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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2013	Apr. 11, 2014	Jun. 30, 2013
Document Information [Line Items]
Entity Registrant Name	XCel Brands, Inc.
Entity Central Index Key	0001083220
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	XELB
Entity Common Stock, Shares Outstanding		11,436,188
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2013
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2013
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 15,782,120

Consolidated Balance Sheets - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Current Assets:
Cash and cash equivalents	$ 7,461,000	$ 3,929,000
Accounts receivable, net	3,541,000	3,428,000
Inventory	70,000	0
Prepaid expenses	477,000	329,000
Total current assets	11,549,000	7,686,000
Property and Equipment:
Leasehold improvements, furniture and equipment	1,922,000	1,516,000
Less: accumulated depreciation	769,000	403,000
Total property and equipment	1,153,000	1,113,000
Other Assets:
Trademarks and other intangibles, net	45,308,000	45,835,000
Goodwill	12,371,000	12,371,000
Deferred finance costs, net	199,000	450,000
Other assets	344,000	349,000
Total other assets	58,222,000	59,005,000
Total Assets	70,924,000	67,804,000
Current Liabilities:
Accounts payable and accrued expenses	1,289,000	1,421,000
Deferred revenue, net of long-term portion	491,000	221,000
Other current liabilities	66,000	144,000
Current portion of long-term debt	565,000	1,350,000
Total current liabilities	2,411,000	3,136,000
Long-Term Liabilities:
Long-term debt, less current portion	24,218,000	29,046,000
Deferred tax liabilities	8,918,000	10,177,000
Deferred revenue, net of short-term portion	0	480,000
Total long-term liabilities	33,136,000	39,703,000
Total Liabilities	35,547,000	42,839,000
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $.001 par value, 1,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $.001 par value, 25,000,000 shares authorized, 10,005,509 and 7,339,979 issued and outstanding at December 31, 2013 and December 31, 2012, respectively	10,000	7,000
Paid-in capital	30,843,000	21,966,000
Retained earnings	4,524,000	2,992,000
Total stockholders' equity	35,377,000	24,965,000
Total Liabilities and Stockholders' Equity	$ 70,924,000	$ 67,804,000

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2013	Dec. 31, 2012
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	10,005,509	7,339,979
Common stock, shares outstanding	10,005,509	7,339,979

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Revenues
Net licensing revenue	$ 11,546,000	$ 10,432,000
Design and service fee revenue	1,619,000	2,271,000
Net retail sales	203,000	0
Total revenues	13,368,000	12,703,000
Cost of goods sold	93,000	0
Gross profit	13,275,000	12,703,000
Operating expenses
Salaries, benefits and employment taxes	6,520,000	5,475,000
Other design and marketing costs	473,000	728,000
Other selling, general and administrative expenses	2,494,000	2,050,000
Stock-based compensation	4,810,000	4,623,000
Depreciation and amortization	893,000	856,000
Total operating expenses	15,190,000	13,732,000
Other expenses (income)
Loss (gain) on extinguishment of debt	1,351,000	(422,000)
Gain on reduction of contingent obligations	(5,122,000)	(6,300,000)
Total other income	(3,771,000)	(6,722,000)
Operating income	1,856,000	5,693,000
Interest and finance expense
Interest expense - term loan	882,000	1,148,000
Other interest and finance charges	844,000	1,027,000
Total interest and finance expense	1,726,000	2,175,000
Income before income taxes	130,000	3,518,000
Income tax benefit	(1,402,000)	(766,000)
Net income	$ 1,532,000	$ 4,284,000
Net income per share:
Basic (in dollars per share)	$ 0.17	$ 0.62
Diluted (in dollars per share)	$ 0.16	$ 0.57
Weighted average number of common shares outstanding:
Basic (in shares)	9,193,101	6,936,452
Diluted (in shares)	9,791,493	7,577,561

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	(Accumulated Deficit) Retained Earnings [Member]
Balances at Dec. 31, 2011	$ 16,618,000	$ 6,000	$ 17,904,000	$ (1,292,000)
Balances (in shares) at Dec. 31, 2011		5,810,444
Shares issued to employees and directors in connection with restricted stock grants	1,000	$ 1,000	0
Shares issued to employees and directors in connection with restricted stock grants (in shares)		1,544,943
Direct costs relating to equity placement / private stock offering	(2,000)		(2,000)
Compensation expense in connection with stock options, warrant and restricted stock	4,573,000		4,573,000
Restricted stock repurchased on vesting	(711,000)	$ 0	(711,000)
Shares repurchased on vesting of restricted stock (in shares)		(237,033)
Warrants issued in connection with licensing activities	23,000		23,000
Shares issued on exercise of warrants	1,000	$ 0	1,000
Shares issued on exercise of warrants (in shares)		162,500
Forfeiture of prior stock grants	(2,000)	$ 0	(2,000)
Forfeiture of prior stock grants (in shares)		(875)
Shares issued in connection with settlement of debt	180,000	$ 0	180,000
Shares issued in connection with settlement of debt (in shares)		60,000
Net income (loss)	4,284,000	$ 0	0	4,284,000
Balances at Dec. 31, 2012	24,965,000	$ 7,000	21,966,000	2,992,000
Balance (in shares) at Dec. 31, 2012		7,339,979
Shares issued to employees and directors in connection with restricted stock grants	1,000	$ 1,000	0
Shares issued to employees and directors in connection with restricted stock grants (in shares)		1,398,125
Issuance of Common Stock, private stock offering June 5, 2013	5,000,000	$ 2,000	4,998,000
Issuance of Common Stock, private stock offering June 5, 2013 (in shares)		1,428,573
Direct costs relating to equity placement / private stock offering	(311,000)		(311,000)
Compensation expense in connection with stock options, warrant and restricted stock	4,810,000		4,810,000
Restricted stock repurchased on vesting	(622,000)	$ 0	(622,000)
Shares repurchased on vesting of restricted stock (in shares)		(161,168)
Warrants issued in connection with licensing activities	2,000		2,000
Net income (loss)	1,532,000	$ 0	0	1,532,000
Balances at Dec. 31, 2013	$ 35,377,000	$ 10,000	$ 30,843,000	$ 4,524,000
Balance (in shares) at Dec. 31, 2013		10,005,509

Consolidated Statements of Stockholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2013 shares
Shares issued to employees and directors in connection with restricted stock grants	1,625

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income	$ 1,532,000	$ 4,284,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	893,000	856,000
Amortization of deferred finance costs	88,000	119,000
Stock-based compensation	4,810,000	4,618,000
Allowance for doubtful accounts	14,000	25,000
Amortization of seller note discount	576,000	579,000
Amortization of senior note discount	139,000	235,000
Deferred income tax benefit	(1,259,000)	(928,000)
Impairment of long-lived asset	6,000
Loss (gain) on extinguishment of debt	1,351,000	(422,000)
Gain on reduction of contingent obligations	(5,122,000)	(6,300,000)
Changes in operating assets and liabilities:
Accounts receivable	(127,000)	(1,262,000)
Inventory	(70,000)	0
Other assets	(43,000)	(94,000)
Accounts payable and accrued expenses	(119,000)	581,000
Deferred revenue	(211,000)	185,000
Other liabilities	(75,000)	115,000
Net cash provided by operating activities	2,383,000	2,591,000
Cash flows from investing activities
Purchase of property and equipment	(412,000)	(117,000)
Increase in long-term security deposit	(97,000)	(175,000)
Reduction of restricted cash for security deposit	0	175,000
Net cash used in investing activities	(509,000)	(117,000)
Cash flows from financing activities
Proceeds from issuance of common stock and warrants	5,000,000	2,000
Repayment of long-term debt	(13,500,000)	0
Prepayment fee on extinguishment of debt	(189,000)	0
Proceeds from term loan	13,000,000	0
Principal payment of the seller note	(1,500,000)	0
Shares repurchased on vesting of restricted stock	(622,000)	(711,000)
Payment of expenses related to equity and recapitalization	(311,000)	(3,000)
(Acquisition) reduction deferred finance costs	(217,000)	22,000
Repayment of installment debt obligation	0	(556,000)
Repayment of lease obligation	(3,000)	(17,000)
Net cash provided by (used in) financing activities	1,658,000	(1,263,000)
Net increase in cash and cash equivalents	3,532,000	1,211,000
Cash and cash equivalents, beginning of year	3,929,000	2,718,000
Cash and cash equivalents, end of year	7,461,000	3,929,000
Supplemental disclosure of non-cash financing activities:
Shares issued in connection with settlement of debt	0	180,000
Warrants issued in connection with licensing activities	2,000	23,000
Restructure of Seller Note	337,000	0
Supplemental disclosure of cash flow information:
Cash paid during the year for income taxes	119,000	62,000
Cash paid during the year for interest	$ 1,117,000	$ 1,243,000

NATURE OF OPERATIONS, BACKGROUND AND BASIS OF PRESENTATION

12 Months Ended

Dec. 31, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NATURE OF OPERATIONS, BACKGROUND AND BASIS OF PRESENTATION

Xcel Brands, Inc. (“Xcel” and together with its subsidiaries, the “Company”) was incorporated on August 31, 1989 in the State of Delaware under the name Houston Operating Company. On April 19, 2005, we changed our name to NetFabric Holdings, Inc. and on September 29, 2011 we changed our name to Xcel Brands, Inc. The Company engages in the design, licensing, marketing and retail sales of consumer brands, including the Isaac Mizrahi Brand and certain rights of the Liz Claiborne New York Brand (“LCNY”) and the Judith Ripka Brand (the “Ripka Brand”), which we acquired on March 26, 2014 (see Note 12, Subsequent Events). The Company operates in two segments - (1) Design and Licensing and (2) our Retail Business.

Our Design and Licensing business operates in a “working capital light” business model, wherein we license our brands to third parties, provide certain design services, and generate royalty and design and service fee revenues through licensing and other agreements with wholesale manufacturers, sourcing and design companies, and retailers. This includes licensing our own brands for promotion and distribution through an Omnichannel retail sales strategy including distribution through Direct-Response Television (i.e. QVC, Inc. (“QVC”) and The Shopping Channel), the internet, and traditional bricks-and-mortar retail channels. The Isaac Mizrahi Brand and LCNY brand are licensed through our wholly-owned subsidiary IM Brands, LLC (“IM Brands”)(the “Isaac Mizrahi Business”) and the Ripka Brand is licensed through our wholly-owned subsidiary, JR Licensing, LLC (“JR Licensing”).

The Company’s Retail Business operates through its wholly-owned subsidiary, IMNY Retail Management, LLC (“Retail Management”), and was launched in June 2013 opening the Company’s first retail store located in Southampton, New York. The Company opened its second retail store, an outlet store, located near Atlanta, GA, on March 2, 2014. Also, Retail Management plans to launch an e-commerce platform later in 2014.

Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of Xcel Brands, Inc. and its wholly-owned subsidiaries as of and for the years ended December 31, 2013 (the “Current Year”) and December 31, 2012 (the “Prior Year”). The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the Securities and Exchange Commission’s (the “SEC”) accounting rules under Regulation S-X. All material intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the year. Actual results could be affected by those estimates.

Cash and Cash Equivalents

The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents.

Fair Value of Financial Instruments

For certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and other current liabilities, the carrying amounts approximate fair value due to the short-term maturities of these instruments. The carrying value of the debt approximates fair value because the fixed interest rate approximates current market rate and in the instances it does not, the impact on the time value is not material. When debt interest rates are below market rates, the Company considers the discounted value of the difference of actual interest rate and its internal borrowing against the scheduled debt payments.

Fair Value

The Financial Standards Accounting Board’s (“FASB”) accounting standard codification (“ASC”) Subtopic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Subtopic 820-10 outlines a valuation framework, creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements, and details the disclosures that are required for items measured at fair value. We have contingent obligations that are required to be measured at fair value on a recurring basis. Our contingent obligations were measured using inputs from level 3 of the fair value hierarchy, which states:

Level 3 – unobservable inputs that reflect our assumptions that market participants would use in pricing assets or liabilities based on the best information available. The Company’s earn-out obligation (See Note 5, Debt) is based upon certain projected net royalty revenues as defined in the terms and conditions of the acquisition of the Isaac Mizrahi Brand.

Accounts Receivable

Accounts receivable are reported, net of allowance for doubtful accounts. Allowance for doubtful accounts are based on the Company’s ongoing discussions with its licensees, and its evaluation of each licensee’s payment history and account aging. As of December 31, 2013 and 2012, the Company had $3,541,000 and $3,428,000 of accounts receivable, net of allowance for doubtful accounts of $39,000 and $25,000, respectively. The accounts receivable balance includes $174,000 and $699,000 of earned revenue that has been accrued but not billed as of December 31, 2013 and December 31, 2012, respectively.

Property and Equipment

Furniture, equipment and software are recorded at cost and depreciated using the straight-line method over their estimated useful lives, generally three (3) to seven (7) years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the terms of the leases. Betterments and improvements are capitalized, while repairs and maintenance are expensed as incurred.

Trademarks, Goodwill and Other Intangible Assets

The Company follows FASB, ASC Topic 350 “Intangibles - Goodwill and Other”. Under this standard, goodwill and indefinite lived assets are not amortized. The Company’s definite lived intangible assets are amortized over their estimated useful lives of 4 to 5 years.

Under this standard, the Company annually has the option to first assess qualitatively whether it is more likely than not that there is an impairment. The Company completed its annual quantitative assessment analysis of its trademarks, other intangibles and goodwill at December 31, 2013 and determined that no further analysis or impairment charges were required.

Deferred Finance Costs

The Company incurred costs (primarily professional fees and underwriting fees) in connection with borrowings under the senior secured term loan. These costs have been deferred and are being amortized using the straight-line method over the life of the related debt.

Inventory

Inventories are stated at the lower of cost or market using the first in first out (“FIFO”) method. All inventories consist of finished goods and are located at the retail store location. The Company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions. Write-downs, write-offs and shrinkage are charged to cost of goods sold. In the Current Year, the Company experienced shrinkage of $5,000. There were no retail operations or inventory in the Prior Year.

Contingent Obligations

Management analyzes and quantifies the expected contingent obligations (expected earn-out payments) over the applicable pay-out period. Management assesses no less frequently than each reporting period the status of contingent obligations and any expected changes in the fair market value of such contingent obligations. Any change in the expected obligation will result in expense or income recognized in the period in which it is determined fair value has changed. Contingent obligations have been reduced by $5.1 million and $6.3 million during the Current Year and the Prior Year, respectively, and have been recorded as gains on the reduction of contingent obligations and included in operating income in the Company’s consolidated statements of operations (see Note 5, Debt).

Income Taxes

Income tax expense consists of the tax payable for the period and the change during the period in deferred tax assets and liabilities. Deferred income taxes are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted rates in effect during the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

ASC Topic 740 “Accounting for Income Taxes” clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. Tax positions shall initially be recognized in the financial statements when it is more likely than not that the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that has a probability of fifty percent (50%) or greater of being realized upon ultimate settlement with the tax authority, assuming full knowledge of the position and all relevant facts.

The Company has no unrecognized tax benefits as of December 31, 2013 and December 31, 2012. The Company’s U.S. Federal, state and local income tax returns are closed prior to fiscal year 2010 and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

If applicable, the Company would recognize interest and penalties associated with tax matters as part of the income tax provision, and include accrued interest and penalties with accrued expenses in the consolidated balance sheets.

Revenue Recognition

Licensing revenue is generated from licenses and is based on reported sales of licensed products bearing our trademarks, at royalty rates specified in the license agreements. These agreements are also subject to contractual minimum levels.

Design and service fees are recorded and recognized in accordance with the terms and conditions of each service contract, including the Company meeting its obligations and providing the relevant services under each contract. Generally, we record on a straight-line basis, each base fee as stated in each service agreement for the covered period and, if applicable, we recognize additional payments received that relate to a future period as deferred revenue, until service is provided or revenue is otherwise earned.

We recognize revenue from our retail store upon sale of our products to retail consumers, net of estimated returns.

Concentrations of Credit Risk

Financial instruments which potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents, and accounts receivable. We limit our credit risk with respect to cash by maintaining cash balances with high quality financial institutions. At times our cash and cash equivalents may exceed federally insured limits. Concentrations of credit risk with respect to accounts receivable are minimal due to the limited amount of outstanding receivables and due to the nature of our royalty revenues. Generally, we do not require collateral or other security to support accounts receivables.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC Topic 718 “Compensation - Stock Compensation”, by recognizing the fair value of stock-based compensation as an operating expense in the Company’s consolidated statements of operations. Stock-based compensation can include stock options and restricted stock grants.

Stock Options - The fair value of the Company’s stock option awards are estimated using the Black-Scholes option valuation model. This model requires the input of highly subjective assumptions and elections including expected stock price volatility and the estimated life of each award.

Restricted Stock - Compensation cost for restricted stock is measured using the fair value of the Company’s Common Stock at the date the Common Stock is granted. The compensation cost is recognized over the period between the grant date and the date any restrictions lapse. For stock-based awards that vest based on performance conditions (e.g. achievement of certain milestones), expense is recognized when it is probable that the condition will be met.

The calculation of compensation costs requires that the Company estimate the number of awards that will be forfeited during the vesting period. The fair value of stock-based compensation is amortized over the service period of the awards.

Advertising Costs

All costs associated with production for the Company’s advertising campaigns are expensed during the periods when the activities take place. All other advertising costs such as print and online media are expensed when the advertisement occurs. The Company incurred no advertising costs for the Current Year and Prior Year.

Operating Leases

Total rent payments under operating leases that include scheduled payment increases and rent holidays are amortized on a straight-line basis over the term of the lease. Landlord allowances are amortized by the straight-line method over the term of the lease as a reduction of rent expense.

Earnings per Share

Basic earnings per share excludes dilution and is computed by dividing net income (or loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the effect of common shares issuable upon the exercise of stock options and Warrants using the treasury stock method. The difference between basic and diluted weighted-average common shares results from the assumption that all dilutive stock options, Warrants and restricted stock outstanding were exercised into Common Stock if the effect is anti-dilutive.

Recently Issued Accounting Standards

In July 2012, the FASB issued ASU 2012-02, “Intangibles—Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment.” ASU 2012-02 simplifies the guidance for testing the decline in the realizable value (impairment) of indefinite-lived intangible assets other than goodwill. Examples of intangible assets subject to the guidance include indefinite-lived trademarks, licenses, and distribution rights. The standard applies to all public, private, and not-for-profit organizations. The amendments in this update are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The Company did early adopt this ASU 2012-02. The adoption of ASU No. 2012-02 did not have a material impact on the Company’s results of operations or the Company’s consolidated financial position.

In July 2013, the FASB issued ASU 2013-11, “Income Taxes.” (Topic 740): Presentation of an Unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU’s objective is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. This ASU provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (NOL) carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date and is effective for periods beginning after December 31, 2013. The Company does not have unrecognized tax benefits as of December 31, 2013 and therefore the adoption of ASU No. 2013-11 is not expected to have a material impact on the Company’s results of operations or the Company’s consolidated financial position.

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Trademarks, Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

3. Trademarks, Goodwill and Other Intangibles

Trademarks, and other intangibles, net consist of the following:

	December 31, 2013		December 31, 2012
Trademarks	$	44,500,000	$	44,500,000
Licensing agreements		2,000,000		2,000,000
Accumulated amortization, licensing agreements		(1,192,000)		(665,000)
Net carrying amount	$	45,308,000	$	45,835,000

The following table presents amortization expense for licensing agreements over the remaining useful life:

Year Ending	Carrying Value		Amortization Expense
December 31, 2014		279,000		529,000
December 31, 2015		-		279,000

Amortization expense for intangible assets for the years ended December 31, 2013 and 2012 is $527,000 and $527,000, respectively. The Isaac Mizrahi Brand Trademarks and related goodwill have been determined to have an indefinite useful life and accordingly, consistent with ASC Topic 350, no amortization has been recorded in the Company's consolidated statements of operations.

The Company has $12,371,000 of goodwill that represents the excess of the purchase price over the fair value of net assets acquired accounted for under the acquisition method of accounting relating to the acquisition of the Isaac Mizrahi Business. There was no change in goodwill during the Current Year.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Significant Contracts

12 Months Ended

Dec. 31, 2013

Significant Contracts [Abstract]

Significant Contracts [Text Block]

4. Significant Contracts

QVC Agreement

In connection with the Company’s agreement with QVC, they are required to pay fees based primarily on a percentage of its net sales of Isaac Mizrahi branded merchandise. Licensing revenues from QVC totaled $8.13 million and $7.69 million for the Current Year and the Prior Year, respectively, representing 61% of the Company’s total revenues each year. As of December 31, 2013 and December 31, 2012, the Company had a receivable from QVC in the amount of $2.06 million and $1.90 million, respectively, representing 55% of the Company’s receivables each year. The December 31, 2013 QVC receivable includes $152,000 of earned revenue that has been accrued but not billed as of December 31, 2013.

LCNY Agreement

In connection with the Company’s agreement with Kate Spade and Company (formerly Fifth & Pacific Companies, Inc. and formerly Liz Claiborne, Inc.) (“KSC”) (the “LCNY Agreement”), KSC is required to pay the Company royalties based primarily on a percentage of royalties KSC receives from QVC under a separate license agreement between KSC and QVC. Revenues from the LCNY Agreement totaled $1.57 million and $1.71 million for the Current Year and the Prior Year, respectively, representing 12% and 13% of the Company’s total revenues, respectively. As of December 31, 2013 and December 31, 2012, the Company had a receivable from KSC in the amount of $0.61 million and $0.70 million, respectively, representing 18% and 20% of the Company’s receivables, respectively.

Debt

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

5. Debt

The Company’s net carrying amount of debt is comprised of the following:

	December 31,
	2013		2012
Term Note	$	13,000,000	$	12,579,000
Seller Note		5,045,000		6,306,000
Contingent obligation – due to seller		6,681,000		11,466,000
Other long term liabilities		57,000		45,000
Total		24,783,000		30,396,000
Current portion		565,000		1,350,000
Total long term debt	$	24,218,000	$	29,046,000

Term Loan- Old Loan

On September 29, 2011 (the “Closing Date”), IM Brands, a wholly-owned subsidiary of the Company, entered into a five-year senior secured facility (the “Old Loan”) with MidMarket Capital Partners, LLC (“MidMarket”) and Noteholders in the aggregate principal amount of $13,500,000. The Loan was secured by all of the assets of IM Brands and the Company’s membership interests in IM Brands.

The principal amount of the Loan was payable quarterly as follows: 2.5% on January 5, 2013 through October 5, 2013; 3.75% on January 5, 2014 through October 5, 2014; 6.25% on January 5, 2015 through October 5, 2015; 12.5% on January 5, 2016 through the maturity date, which is the date that is 5 years after the Closing Date.

The interest rate on the Loan was a fixed rate of 8.5%, payable in cash.

Optional Prepayment. IM Brands could have prepaid the Old Loan in whole or in part in increments of $500,000, provided that IM Brands paid the following premiums in connection with the prepayment:

Period	Applicable Premium
Prior to September 29, 2013		2	%
Prior to September 29, 2014		1	%
On or After September 29, 2014		0	%

New Term Loan

On August 1, 2013, the Company extinguished the Old Loan with proceeds from a new $13.0 million, 5-year term loan with Bank of Hapoalim B.M. (“BHI”) (the “New Loan”). The New Loan is secured by all of the assets of IM Brands and the Company’s membership interest in IM Brands and bears interest at an annual fixed rate of 4.44% payable quarterly in arrears each calendar quarter. Scheduled principal payments are as follows:

Date of Payment	Amount of Principal Payment

October 1, 2014, January 1, 2015, April 1, 2015 and July 1, 2015	$	250,000

October 1, 2015, January 1, 2016, April 1, 2016 and July 1, 2016	$	625,000

October 1, 2016, January 1, 2017, April 1, 2017 and July 1, 2017	$	750,000

October 1, 2017, January 1, 2018 and April 1, 2018	$	875,000

July 1, 2018	$	3,875,000

In addition, the Company is required to prepay the outstanding amount of the New Loan from excess cash flow (“Cash Flow Recapture”) for each fiscal year commencing with the year ending December 31, 2014 in arrears in an amount equal to twenty percent (20%) of such Cash Flow Recapture. Cash Flow Recapture for any fiscal period is defined as, cash provided by operating activities for such period less (a) capital expenditures not made through the incurrence of indebtedness less (b) all interest and principal (including indebtedness owed for the New Loan) paid or payable during such period less (c) all income tax payments made during such period.

On August 1, 2013, the extinguishment of the Old Loan resulted in an approximate loss on extinguishment of debt of $1,351,000, consisting of $381,000 of unamortized deferred costs, $781,000 from acceleration of the loan discount, and $189,000 for prepayment fees and expenses of the Old Loan. The prepayment fee was equal to 1.5% of the outstanding balance of the Old Loan immediately before the extinguishment.

Financial Covenants. The Company is required to maintain minimum fixed charge ratio and liquidity covenants, a maximum leverage ratio covenant and other non-monetary covenants, including reporting requirements and trademark preservation in accordance with the terms and conditions of the New Loan. As of December 31, 2013, the Company and IM Brands were in full compliance with all of the covenants under the New Loan.

Seller Note

On the Closing Date, the Company delivered to IM Ready-Made, LLC (“IM Ready”) a promissory note (the “Seller Note”) in the principal amount of $7,377,000. The stated interest rate of the Seller Note is 0.25%. Management has determined that this rate was below the Company’s expected borrowing rate, which was 9.25% on the Closing Date. Therefore, the Company has discounted the Seller Note by $1,740,000 using a 9.0%, imputed annual interest rate, resulting in an initial value of $5,637,000. In addition, the Company pre-paid $123,000 of interest on the Seller Note on the Closing Date. The discount is amortized into (increases) the basis of the Seller Note over the term of the Seller Note.

The Seller Note was initially scheduled to mature on September 29, 2014 (the “Maturity Date”) subject to extension as described below (the date to which the maturity date of the Seller Note is extended is referred to as the “Subsequent Maturity Date”). We have the right to pay the Seller Note at the Maturity Date in cash or, subject to the following conditions, in shares of Common Stock. If we elect to repay the outstanding principal amount of the Seller Note on the Maturity Date by issuing shares of Common Stock, the number of shares issuable will be obtained by dividing the principal amount of the Seller Note then outstanding by the greater of (i) the fair market value of the Common Stock on the Maturity Date and (ii) $4.50 subject to certain adjustments; provided, however, that if the fair market value of the Common Stock is less than $4.50 as adjusted, IM Ready will have the option to extend the maturity of the Seller Note to the Subsequent Maturity Date. If the maturity date of the Seller Note is so extended, IM Ready will have the option to convert the Seller Note into Common Shares based on the greater of (i) the fair market value of the Common Stock on the Subsequent Maturity Date and (ii) $4.50, subject to certain adjustments. If the maturity date of the Seller Note is extended, we will also have the option to repay the outstanding principal amount of the Seller Note on the Subsequent Maturity Date in cash or by issuing the number of shares of Common Stock obtained by dividing the principal amount of the Note outstanding on the Subsequent Maturity Date by the fair market value of the Common Stock on the Subsequent Maturity Date. In addition, at any time the Seller Note is outstanding, we have the right to convert the Note, in whole or in part, into the number of shares of Common Stock obtained by dividing the principal amount to be converted by the fair market value of the Common Stock at the time of the conversion, so long as the fair market value of our Common Stock is at least $4.50.

On December 24, 2013, the Seller Note was amended (1) revising the Maturity Date to September 30, 2016 (the “Amended Maturity Date”), (2) revising the Subsequent Maturity Date to September 30, 2018 (the “Amended Subsequent Maturity Date”), (3) providing the Company with a prepayment right with its Common Stock, subject to remitting in cash the required cash payments set forth below and a minimum Common Stock price of $4.50 per share and (4) requiring interim scheduled payments. Scheduled principal payments (including amortization of imputed interest) are as follows:

Payment Date	Payment Amount		Amount Payable in Cash (i)		Amount Payable in Cash with Restrictions (ii)		Amount Payable in Stock (iii)
December 24, 2013	$	1,500,000	$	1,500,000	$	-		-
January 31, 2015	$	750,000	$	500,000	$	250,000		250,000
January 31, 2016	$	750,000	$	-	$	750,000		750,000
September 30, 2016	$	4,377,432	$	-	$	-		4,377,432

(i)

$1,500,000 was paid prior to December 31, 2013.

(ii)

Amounts payable in cash with restrictions are subject to BHI approving the cash payment. If BHI does not approve the cash payment, the amount shall be payable in shares of Common Stock subject to the provisions described above.

(iii)

This includes the last payment on the Amended Maturity Date and may include amounts payable in cash with restrictions whereby BHI provides approval and the amount would be paid with the Company’s Common Stock. Amounts payable with the Company’s Common Stock shall be subject to the provisions described above.

The stated interest rate of the Seller Note remains at 0.25%. Management has determined that the Company’s expected borrowing rate as of the date of the amendment was 6.44%. Based on the revised payment schedule and the change in the Company’s expected borrowing rate, the Company has increased the Seller note discount by $337,000, and accordingly reduced the carrying value of the Seller Note. Management has determined that the amendment to the Seller Note was in conjunction with an amendment to the contingent obligation to IM Ready (the “Earn-out Obligation”) and the reduction to the carrying value of the Seller Note was recorded as part of the gain on reduction of contingent obligations in the Company’s December 31, 2013 consolidated statement of operations.

For the Current Year and the Prior Year, the Company incurred interest expense of $617,000 and $579,000, respectively, which includes amortization of the Seller Note discounted balance of $576,000 and $541,000, respectively. The Seller Note balance, net of discount, at December 31, 2013 and December 31, 2012 was $5,045,000 and $6,306,000, respectively.

Contingent Obligations

Earn-out obligation

The Earn-Out Obligation allows IM Ready to earn additional shares of Common Stock with a value of up to $7,500,000 (the “Earn-Out Value”) for the 12-month period ending September 30, 2015, with the number of shares to be issued based upon the greater of (i) $4.50 per share and (ii) the average stock price for the last twenty days in such period, and with such earn-out payment contingent upon the Isaac Mizrahi Business achieving the net royalty income target set forth below. IM Ready was eligible to earn additional shares of Common Stock for the fiscal year ended September 30, 2013 and 2012, but did not meet the minimum net royalty income target. In addition, on December 24, 2013, the Company and IM Ready amended the terms of the Earn-Out Obligation and eliminated the additional consideration for the fiscal year ending September 30, 2014 and the Company agreed to make a one-time cash payment of $315,000 to IM Ready, which was made in March 2014. The Earn-Out Obligation is recorded as $3.6 million and $8.7 million as long-term debt at December 31, 2013 and December 31, 2012, respectively and $0.3 million as a current liability, on the Company’s consolidated balance sheets. The $5.1 million and $6.3 million reduction was recorded as a gain on reduction of contingent obligations in the Company’s December 31, 2013 and 2012 consolidated statement of operations, respectively. The reduction in the Earn-Out Obligation for the Current Year was based on (1) the amendment eliminating any earn-out for fiscal year ending September 30, 2014 and (2) a revision of the timing of projected future net royalty income related to the Isaac Mizrahi brand, therefore reducing the probability of achieving the corresponding royalty target within the Earn-Out period. The reduction in the Earn-Out Obligation for the Prior Year was based on a revision of the timing of projected future net royalty income within the earn-out period related to the Isaac Mizrahi brand, therefore diminishing the probability of achieving the corresponding royalty targets. Any future change in the Earn-Out Obligation will result in an expense or income in the period in which it is determined fair market value of the carrying value has changed. The royalty targets and percentage of the potential earn-out value are as follows:

ROYALTY TARGET PERIOD	ROYALTY TARGET		EARN-OUT VALUE

Royalty Target Period (October 1, 2014 to September 30, 2015)	$	24,000,000	$	7,500,000

IM Ready will receive a percentage of the Earn-Out Value based upon the percentage of the actual net royalty income of the Isaac Mizrahi Business to the royalty target as set forth below.

APPLICABLE PERCENTAGE	% OF EARN-OUT VALUE EARNED
Less than 76%		0	%
76% up to 80%		40	%
80% up to 90%		70	%
90% up to 95%		80	%
95% up to 100%		90	%
100% or greater		100	%

The Earn-Out Value is payable solely in stock. In accordance with ASC Topic 480 "Distinguishing Liabilities from Equity", the earn-out obligation is treated as a liability in the accompanying consolidated balance sheets because of the variable number of shares payable under the agreement.

QVC Earn-Out

The QVC Earn-Out payment requires the Company to pay IM Ready $2.8 million, payable in cash or Common Stock, at the Company’s option, contingent upon the IM Brands receiving aggregate net royalty income of at least $2.5 million from QVC in the twelve-month period ending September 30, 2015 with such stock based upon the greater of (x) $4.50 per share, and (y) the average stock price for the last twenty days prior to the time of such issuance (the “QVC Earn-Out’). The current term of the QVC Agreement, as amended, runs through September 30, 2020. Management has determined that it is probable that the $2.5 million in net royalty income from QVC will be met. In accordance with ASC Topic 480 "Distinguishing Liabilities from Equity", the QVC Earn-Out obligation is treated as a liability in the accompanying consolidated balance sheets because of the variable number of shares payable under the agreement. Management will assess no less frequently than each reporting period the status of this contingent obligation. Any change in the expected obligation will result in an expense or income in the period in which it is determined fair market value has changed.

As of December 31, 2013, the Earn-Out Obligation is $3.9 million and the QVC Earn-Out is $2.8 million, which combined is equal to $6.7 million and represents the total contingent obligation to IM Ready. The total contingent obligation to IM Ready as of December 31, 2012 was $11.5 million.

Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

6. Stockholders’ Equity

Private Offering of Equity Securities

On June 5, 2013 in a private offering to affiliates of an existing shareholder and a director of the Company, which are accredited investors, the Company issued and sold an aggregate of 1,428,573 shares of its Common Stock and Warrants to purchase an aggregate of 312,500 shares of the Company’s Common Stock for aggregate gross proceeds of $5,000,000 (the “Offering”). The Warrants are exercisable at a price of $5.00 per share, at any time on or prior to June 5, 2018.

We concluded that there is a discounted component to the Offering as compared to the then market value of our Common Stock, primarily due to the limited liquidity in our shares. Based on the Company’s analysis, the Company concluded that such discount was 10% and therefore grossed up the offering price based on the discount, resulting in a fair value of $3.86 per common share.

The fair value for the Warrants was estimated $.12 for each warrant to purchase one share of Common Stock using the Black-Scholes option-pricing model with the following weighted-average assumptions:

Expected Volatility (i)	22.5	%
Expected Dividend Yield	0	%
Expected Life Term (ii)	2.5
Risk-Free Interest Rate	0.39	%

(i)

Due to the Company’s limited trading activity, the Company used the average volatility of similar companies in its industry.

(ii)

Due to the Company’s limited history, the expected life of options was calculated using the ‘simplified method’ in accordance with Staff Accounting Bulletin (“SAB”) Topic 14.02 in accordance with SAB No. 110.

The proceeds of the Offering were accounted for as the par value of the Common Stock ($.001 per share) issued and the balance ($3.499 per share) as additional paid in-capital, inclusive of the value of the Warrants.

2011 Equity Incentive Plan

The Company’s 2011 Equity Incentive Plan, as amended and restated (the “Plan”) is designed and utilized to enable the Company to offer its employees, officers, directors, consultants and others whose past, present and/or potential contributions to the Company have been, are or will be important to the success of the Company, an opportunity to acquire a proprietary interest in the Company. A total of 5,000,000 shares of Common Stock are eligible for issuance under the Plan. The Plan provides for the grant of any or all of the following types of awards: stock options, restricted stock, deferred stock, stock appreciation rights and other stock-based awards. The Plan will be administered by the Company’s board of directors (the “Board”), or, at the Board's discretion, a committee of the Board.

On April 17, 2012, the Company issued to management an aggregate of 1,150,000 shares of restricted stock. The vesting date of 1,075,000 shares of restricted stock was November 15, 2013, provided, however, that each such grantee has the right to extend the vesting date by six-month increments in his or her sole discretion, prior to the date the restrictions would lapse. The vesting date of 37,500 shares of restricted stock was May 15, 2013, provided however, the grantee has the right to extend the vesting date by six-month increments in his sole discretion, prior to the date the restrictions would lapse. The vesting date of 37,500 shares of restricted stock is May 15, 2014, provided however, the executive has the right to extend the vesting date by six-month increments in his sole discretion, prior to the date the restrictions would lapse. As of December 31, 2013, restrictions on 827,776 shares have lapsed and 322,224 restricted shares are scheduled to vest on May 15, 2014. The Company repurchased 153,896 and 218,163 shares of restricted stock upon vesting of restricted stock in satisfying the grantees’ tax withholding obligation on November 15, 2013 and November 15, 2012, respectively, at a price of $3.86 and $3.00 per share, respectively.

On May 1, 2012, the Company granted options to purchase an aggregate of 105,500 shares of Common Stock to non-executive employees of the Company. The exercise price per share of the options is $3.00 per share, and 50% of the options will vest on each of the first and second anniversaries of the grant date. Of these awards, 1,500 and 26,750 options were forfeited in 2013 and 2012, respectively, and reverted to, and are eligible for re-grant under the Plan. As of December 31, 2013, no vested shares have been exercised.

On June 1, 2012, the Company issued to non-management directors 138,335 shares of restricted stock. The vesting date of 138,335 shares of restricted stock was December 1, 2013, provided, however, that each such grantee has the right to extend the vesting date by six-month increments in his sole discretion, prior to the date the restrictions would lapse. As of December 31, 2013, restrictions on 88,863 shares have lapsed and 49,472 restricted shares are scheduled to vest on June 1, 2014. The Company repurchased 7,272 and 18,870 shares of restricted stock upon vesting of restricted stock in satisfying the grantees’ tax withholding obligation on December 1, 2013 and December 1, 2012, respectively, at a price of $3.86 and $3.00 per share, respectively.

On June 1, 2012, the Company issued to management 256,608 shares of restricted stock. The vesting date of 256,608 shares of restricted stock is June 1, 2014, provided, however, that each such grantee has the right to extend the vesting date by six-month increments in his sole discretion, prior to the date the restrictions would lapse.

On April 1, 2013, the Company issued to management and employees 1,270,000 shares of restricted stock. The vesting date of 1,075,000 shares of restricted stock is March 31, 2014, provided, however, that each such grantee has the right to extend the vesting date by six-month increments in his sole discretion, prior to the date the restrictions would lapse. The remaining 195,000 shares of restricted stock will vest evenly over two years, whereby 50% shall vest on March 31, 2014 and 50% shall vest on March 31, 2015. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted shares by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted shares until the next following September 30th or March 31st, as the case may be, by providing written notice of such election to extend such date with respect to all or a portion of the restricted shares prior to such date.

On April 1, 2013, the Company issued to non-management directors 100,000 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on March 31, 2014 and 50% shall vest on March 31, 2015. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted shares by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted shares until the next following September 30th or March 31st, as the case may be, by providing written notice of such election to extend such date with respect to all or a portion of the restricted shares prior to such date.

On May 1, 2013, the Company issued to non-executive employees 29,750 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on April 30, 2014 and 50% shall vest on April 30, 2015.

Stock Options and Warrants

The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including the expected stock price volatility.

The fair value for these options and Warrants was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Year Ended December 31, 2013			Year Ended December 31, 2012
Expected Volatility (i)		21-22	%		39-40	%
Expected Dividend Yield		0	%		0	%
Expected Life (Term) (ii)		1-3 years			4-5 years
Risk-Free Interest Rate		0.21 – 0.39	%		0.70% - 0.80	%

(i)

Due to the Company’s limited trading activity, the Company used the average volatility of companies in its industry.

(ii)

Due to the Company’s limited history, the expected life of options was calculated using the ‘simplified method’ in accordance SAB Topic 14.02 in accordance with SAB No. 110.

Stock Options

The options that the Company granted under the Plan expire at various times, either five, seven or ten years from the date of grant, depending on the particular grant.

Summary of the Company’s stock options for the years ended December 31, 2013 and 2012 are as follows:

			Weighted-Average
	Options		Exercise Price
Outstanding at January 1, 2012		267,125	$	5.00
Granted		105,500		3.00
Canceled		-		-
Exercised		-		-
Expired/Forfeited		(27,625)		(3.06)
Outstanding at December 31, 2012		345,000		4.54
Granted		-		-
Canceled		-		-
Exercised		-		-
Expired/Forfeited		(1,875)		(3.40)
Outstanding and expected to vest at December 31, 2013		343,125	$	4.55
Exercisable at December 31, 2013		304,500	$	4.75

The preceding table does not include options to purchase 576 shares of Common Stock for $728 per share issued under the Company’s former equity plan. The Company does not expect to issue any equity awards under this plan.

The weighted average grant date fair value per share of options granted during the year ended December 31, 2012 was $0.99.

The weighted average contractual term (in years) of options outstanding as of December 31, 2013 and 2012, were 3.60 and 4.61 respectively. The weighted average contractual term (in years) of options exercisable as of December 31, 2013 and 2012, were 3.08 and 4.03 respectively.

The aggregate intrinsic value is calculated as the difference between the market price of the Company’s Common Stock as of December 31, 2013 and the exercise price of the underlying options. At December 31, 2013 and 2012, the aggregate intrinsic value of options outstanding was zero. In addition, at December 31, 2013 and 2012, the aggregate intrinsic value of options exercisable was zero. There were no unamortized stock options as of December 31, 2013. There were no options exercised for the year ended December 31, 2013 and 2012.

Compensation expense related to stock option grants for the year ended December 31, 2013 and 2012 was $69,000 and $65,000, respectively. An additional $13,000 is expected to be expensed through April 30, 2014.

Warrants

A summary of the Company’s Warrants for the years ended December 31, 2013 and 2012 is as follows:

			Weighted-Average
	Warrants		Exercise Price
Outstanding at January 1, 2012		1,219,543	$	1.95
Granted		75,000		5.50
Canceled		-		-
Exercised		(162,500)		(0.01)
Expired/Forfeited		-		-
Outstanding at December 31, 2012		1,132,043		2.47
Granted		337,500		5.00
Canceled		-		-
Exercised		-		-
Expired/Forfeited		-		-
Outstanding at December 31, 2013		1,469,543	$	3.05
Exercisable at December 31, 2013		1,457,043	$	3.03

Compensation expense related to Warrants grants for the years ended December 31, 2013 and 2012 was $33,000 and $44,000, respectively.

The Company values other Warrants issued to non-employees at the commitment date at the fair market value of the instruments issued, a measure which is more readily available than the fair market value of services rendered, using the Black-Scholes model. The fair market value of the instruments issued is expensed over the vesting period.

On January 23, 2012, we issued to a licensee Warrants to purchase 75,000 shares of Common Stock with an exercise price of $5.50 per share and a term of 5-years. Compensation expense related to Warrants in connection with the licensing agreement is amortized over the 5-year initial term of the license agreement and is recorded as a discount to licensing revenues. The stock-based licensing revenue discount for each of the years ended December 31, 2013 and 2012 was $5,000. An additional amount of $13,000 is expected to be amortized over a period of 33 months from January 1, 2014 through September 30, 2016.

On June 5, 2013, in connection with the Offering we issued Warrants to purchase 312,500 shares of Common Stock with an exercise price of $5.00 per share and a term of 5-years.

On October 4, 2013, we issued to Adam Dweck (“AD”), who is an Executive Vice President of Earthbound, LLC (“Earthbound”) and the son of Jack Dweck, who is a principal of Earthbound and is on the Company’s board of directors, Warrants to purchase 25,000 shares of Common Stock at an exercise price of $5.00 per share. The Warrants were in connection with performance targets under a licensing agent agreement with AD (See Note 11, Related party Transactions). These Warrants expire on August 2, 2016. On October 4, 2013, 12,500 Warrants vested and 12,500 vest upon achieving the second performance target. (See Note 11, Related Party Transactions)

Restricted Stock

Compensation cost for restricted stock is measured using the fair value of the Company’s Common Stock at the date of the grant. The compensation cost, net of projected forfeitures, is recognized over the period between the grant date and the date any restrictions lapse, with compensation cost for grants with a graded vesting schedule recognized using the treasury method. The restrictions do not affect voting and dividend rights.

A summary of the Company’s restricted stock for the year ended December 31, 2013 and 2012 is as follows:

	Restricted Shares		Weighted- Average Grant Date Fair value
Outstanding at January 1, 2012		17,125	$	3.34
Granted		1,544,943		3.00
Canceled		-		-
Vested		(596,586)		3.00
Expired/Forfeited		(875)		3.34
Outstanding at December 31, 2012		964,607		3.00
Granted		1,399,750		3.86
Canceled		-		-
Vested		(336,178)		3.01
Expired/Forfeited		(1,625)		3.82
Outstanding at December 31, 2013		2,026,554	$	3.59

Compensation expense related to restricted stock grants for the years ended December 31, 2013 and 2012 was $4,741,000 and $4,514,000, respectively. An additional $826,000 is expected to be expensed through April 30, 2015.

The following table provides information with respect to purchases by the Company of restricted stock during the Current Year and Prior Year.

Date	Total Number of Shares Purchased (a)		Average Price Paid per Share		Number of Shares Purchased as Part of Publically Announced Plan		Fair value of re-purchased shares
November 15, 2012		218,163	$	3.00		-	$	654,000
December 1, 2012		18,870		3.00		-		56,000
Total 2012		237,033					$	710,000

November 15, 2013		153,896	$	3.86		-	$	594,000
December 1, 2013		7,272		3.86		-		28,000
Total 2013		161,168				-	$	622,000

(a)

All of the shares of restricted stock in the proceeding table were originally granted to employees and directors as restricted stock pursuant to the Company’s Plan. The shares reflected above were relinquished by employees and directors in exchange for the Company’s agreement to pay federal and state and local withholding obligations on behalf of such employees and directors on the vesting of restricted stock.

Shares Available Under the Company’s 2011 Equity Incentive Plan

At December 31, 2013 there were 2,095,758 common shares available for issuance under the Plan.

Shares Reserved for Issuance

At December 31, 2013 there were 3,909,002 common shares reserved for issuance pursuant to unexercised Warrants and stock options, and availability for issuance under the Plan.

Dividends

The Company has not paid any dividends to date.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Earnings Per Share

Basic earnings per share includes no dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the effect of restricted stock-based awards and common shares issuable upon exercise of stock options and Warrants using the treasury stock method. The difference between basic and diluted weighted-average common shares results from the assumption that all dilutive stock options and Warrants outstanding were exercised and have been converted into Common Stock.

For the Current Year, 265,875 shares issuable upon exercise of options and 886,050 shares issuable upon exercise of Warrants were excluded from the calculation of earnings per share because they were anti-dilutive. For the Prior Year, 345,000 shares issuable upon exercise of options and 548,550 shares issuable upon exercise of Warrants were excluded from the calculation of earnings per share because they were anti-dilutive.

A reconciliation of shares used in calculating basic and diluted earnings per share follows:

	Year Ended December 31, 2013		Year Ended December 31, 2012
Basic		9,193,101		6,936,452
Effect of exercise of options and Warrants		598,392		641,109
Diluted		9,791,493		7,577,561

Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

8. Commitments and Contingencies

Leases

The Company leases office space and retail store space under operating lease agreements that expire at various dates through March 31, 2016. The majority of the lease obligations are related to the Company’s main headquarters located in New York City, which lease expires February 2016. Future minimum lease payments under the terms of these noncancelable operating lease agreements are as follows:

	Lease Payments
Year ending December 31, 2014	$	721,000
Year ending December 31, 2015		751,000
Year ending December 31, 2016		119,000
Total future noncancelable minimum lease payments	$	1,591,000

The corporate headquarters’ lease requires the Company to pay additional rents by virtue of increases in the base taxes and other costs on the property. In addition, retail store operating leases provide for additional bonus rent based on a percentage of annual retail sales in excess of targeted levels. Additional rents have not been material. Total rent expense was $708,000 and $619,000 for the years ended December 31, 2013 and 2012, respectively.

The Company has contracts with certain executives and key employees. The future minimum payments under these contracts are:

	Employment Contract Payments
Year ending December 31, 2014	$	2,472,000
Year ending December 31, 2015		1,128,000
Year ending December 31, 2016		834,000
Total future minimum employment contract payments	$	4,434,000

In addition to the employment contract payments stated above, the Company’s employment contracts with certain executives and key employees contain performance based bonus provisions. These provisions include bonuses based on the Company achieving revenues in excess of established targets and/or on operating results.

Income taxes

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

9. Income taxes

The Company accounts for income taxes in accordance with ASC Topic 740. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. In determining the need for a valuation allowance, management reviews both positive and negative evidence pursuant to the requirements of ASC Topic 740, including current and historical results of operations, future income projections and the overall prospects of the Company's business.

The income tax provision (benefit) for Federal and state and local income taxes in the consolidated statements of operations consists of the following:

	Year Ended December 31,
	2013		2012
Current:
Federal	$	(110,000)	$	109,000
State and local		(33,000)		53,000
Total current		(143,000)		162,000

Deferred:
Federal		(1,173,000)		(754,000)
State and local		(86,000)		(174,000)
Total deferred		(1,259,000)		(928,000)
Total provision (benefit)	$	(1,402,000)	$	(766,000)

The reconciliation of income tax computed at the Federal and state statutory rate to the Company’s income before taxes are as follows:

	Year Ended December 31,
	2013			2012
U.S. statutory federal rate		34.0	%		34.0	%
State and local, net of federal tax		(66.4)	%		6.3	%
Gain on reduction of contingent obligation		(1,251.5)	%		(72.5)	%
Excess compensation deduction		112.5	%		-	%
Deferred tax adjustment		96.5	%		6.7	%
Other permanent differences		(2.8)	%		3.6	%
Income tax provision (benefit)		(1,077.7)	%		(21.9)	%

The significant components of net deferred tax liabilities of the Company consist of the following:

	December 31, 2013		December 31, 2012
Deferred tax assets
Federal state and local net operating loss carryforwards	$	70,000	$	-
Property and equipment		117,000		34,000
Stock-based compensation		2,738,000		1,439,000
Accrued compensation and other accrued expenses		280,000		91,000
Allowance for doubtful accounts		16,000		10,000
Royalty advances		156,000		222,000
Other		18,000		-
Total deferred tax assets	$	3,395,000	$	1,796,000

Deferred tax liabilities
Basis difference arising from discounted note payable		(339,000)		(602,000)
Basis difference arising from intangible assets of acquisition		(11,974,000)		(11,371,000)
Total deferred tax liabilities		(12,313,000)		(11,973,000)
Net deferred tax liabilities	$	(8,918,000)	$	(10,177,000)

	December 31,		December 31,
	2013		2012
Net current deferred tax asset	$	49,000	$	101,000
Net non-current deferred tax liabilities		(8,967,000)		(10,278,000)
Net deferred tax liabilities	$	(8,918,000)	$	(10,177,000)

The Company has available at December 31, 2013 and December 31, 2012, approximately $207,000 and $0, respectively, of unused U.S. Federal and state and local net operating loss carryforwards that may be applied against future taxable income.

During the Current Year, the Company recorded a $5.1 million gain on the reduction of contingent obligations related to the acquisition of IM Ready. This gain is not subject to U.S. Federal income tax (See Note 5, Debt).

As of December 31, 2013 and 2012, management does not believe the Company has any material uncertain tax positions that would require it to measure and reflect the potential lack of sustainability of a position on audit in its consolidated financial statements. The Company will continue to evaluate its uncertain tax positions in future periods to determine if measurement and recognition in its consolidated financial statements is necessary. The Company does not believe there will be any material changes in its unrecognized tax positions over the next year.

Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

10.

Segment Information

Since the Company opened its first retail store in June 2013, it operates in two segments - (1) Design and Licensing, and (2) Retail, which are based on its business activities and organization. The operating segments are segments of the Company for which separate discrete financial information is available and for which operating results are evaluated regularly by the chief operating decision makers, made up of the Company’s executive management team, in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are net sales or revenue (in the case of licensing and design fees) and operating income for each segment. The design and licensing segment includes royalties earned on licensed products and use of the Company’s trademarks, and rights granted to third parties for the right to sell the Company’s products and related design and other service fees. The retail segment represents sales of Isaac Mizrahi New York branded products through its retail store. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Corporate overhead expenses are allocated to the segments based upon specific usage or other allocation methods.

The following table presents the key performance information of the Company’s reportable segments:

	Year Ended December 31,
	2013		2012
Revenue:
Net licensing revenue	$	11,546,000	$	10,432,000
Design and service fee income		1,619,000		2,271,000
Design and licensing revenues		13,165,000		12,703,000
Retail sales		203,000		-
Total revenues	$	13,368,000	$	12,703,000

Operating income (loss):
Design and licensing	$	2,195,000	$	5,693,000
Retail		(339,000)		-
Total operating income	$	1,856,000	$	5,693,000

	December 31,
Long Lived Assets	2013		2012
Trademarks and other intangibles, net :
Design and licensing	$	45,308,000	$	45,835,000
Retail		-		-
Total Trademarks and other intangibles, net	$	45,308,000	$	45,835,000

Property and equipment :
Design and licensing	$	939,000	$	1,113,000
Retail		214,000		-
Total property and equipment	$	1,153,000	$	1,113,000

	December 31,
	2013		2012
Depreciation and amortization :
Design and licensing	$	873,000	$	856,000
Retail		20,000		-
Total depreciation and amortization	$	893,000	$	856,000

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Related Party Transactions

12 Months Ended

Dec. 31, 2013

11. Related Party Transactions

Todd Slater

On September 29, 2011, the Company entered into an agreement which was amended on October 4, 2011, with Todd Slater, who was appointed as a director of the Company commencing on October 17, 2011, for services related to the Company’s licensing strategy and introduction of potential licensees. During the term of the agreement or during the year following the expiration of the term of the agreement, if the Company enters into a license or distribution agreement with a licensee introduced by Mr. Slater, Mr. Slater was entitled to receive a commission equal to fifteen percent (15%) of all net royalties received by the Company during the first term of such agreement, payable within thirty days of receipt of the net royalties.

On July 10, 2012, the Company and Mr. Slater entered into an amendment (the “Amendment”) to the agreement. Pursuant to the Amendment, the Company paid to Mr. Slater $163,000 as payment in full for (i) the cancellation of all amounts which are or may otherwise become due or payable to Mr. Slater under the terms of the agreement for licensees already introduced to the Company by Mr. Slater and which Mr. Slater was entitled to fifteen percent (15%) of the revenues from such licensees under the agreement, and (ii) the assignment to the Company of all such amounts payable directly to Mr. Slater pursuant to such license agreements. The Company has capitalized this payment and amortizes the expense in accordance with the revenue earned from the respective licensing agreements on which this payment was based upon.

The Company incurred direct licensing costs with Mr. Slater from amortization of the one-time payment stated above and fees paid for the Current Year and the Prior Year of $46,000 and $31,000, respectively.

On June 5, 2013, the Company paid Threadstone Advisors, LLC (“Threadstone”) a fee of $280,000 for the placement of $4,000,000 of proceeds from the Offering (See Note 6, Stockholders’ Equity). This placement fee was recorded as a reduction in paid-in capital and reflected in the stockholders’ equity section of the consolidated balance sheet. Mr. Slater is an officer and a 5% owner of Threadstone.

Licensing Agent Agreement

On August 2, 2011, the Company entered into a licensing agent agreement with AD, pursuant to which he is entitled to a five percent (5%) commission on any royalties we receive under any new license agreements that he procures for us during the initial term of such license agreements.

We are also obligated to grant to AD Warrants to purchase 12,500 shares of Common Stock at an exercise price of $5.00 per share, subject to AD generating $0.5 million of accumulated royalties and additional Warrants to purchase 12,500 shares of Common Stock at an exercise price of $5.00 per share, subject to AD generating $1.0 million of accumulated royalties. These Warrants expire on August 2, 2016. As of December 31, 2013, AD has reached the first milestone of $0.5 million sourced royalties and the Company deems it likely that AD will reach the second milestone of $1.0 million of AD sourced royalties by August 2, 2016. On October 4, 2013 the Company issued Warrants to AD to purchase 25,000 shares of Common Stock of which 12,500 vest immediately and 12,500 vest upon achieving the second milestone. The fair value of these Warrants was estimated at $2,500 on the grant date using the Black-Scholes option pricing method, of which half has been recorded as a royalty commission expense in the Current Year and is recorded as a reduction of net licensing revenues on the consolidated statements of operations. The balance of the Warrants will be expensed evenly over the next 15 months, the period when the second milestone is estimated to occur. Additionally, AD shall be entitled to receive Warrants to purchase an additional 25,000 shares of Common Stock priced at the fair market value at the time of issuance, subject to AD generating $2.0 million of accumulated royalties. These Warrants also all expire on August 2, 2016.

The Company incurred direct licensing costs with AD of $20,000 and $13,000 for the Current Year and the Prior Year, respectively.

Jones Texas, Inc.

Edward Jones, III, a principal shareholder and chief executive officer of Jones Texas, Inc. (“JT”) is a member of the Company’s board of directors. The Company and JT entered into a consulting agreement on March 28, 2012, whereby JT shall pursue and introduce licensing opportunities for the Company. JT procured a license for the Company during 2012, which the Company agreed to remit 15% of the license revenues for the initial term of the license. JT earned $0 and $3,000 in fees for the Current Year and the Prior Year, respectively.

Earthbound, LLC

As part of the consideration for the acquisition of the Isaac Mizrahi Business, the Company assumed a $1.5 million non-interest obligation owed to Earthbound, payable over five years commencing on September 29, 2011. Jack Dweck is a principal owner of Earthbound. The Company recorded $94,000 of interest expense in the Prior Year. The Company extinguished this debt on November 21, 2012.

IM Ready-Made, LLC

The Company and IM Ready had balances owed between the companies relating to the transition of the Isaac Mizrahi Business and certain payments assigned to the Seller by QVC under the QVC Agreement. As of December 31, 2013, the Company owed IM Ready $459,000 and as of December 31, 2012 IM Ready owed the Company $217,000. The Company did not earn any revenue or incur any expenses with IM Ready since the Closing Date.

Mark DiSanto

On June 5, 2013, Mark X. DiSanto Investment Trust (the “DiSanto Trust”) purchased 285,715 shares of its Common Stock and Warrants to purchase an aggregate of 62,500 of the Company’s Common Stock for aggregate gross proceeds of $1 million through the Offering (See Note 6, Stockholders’ Equity). Mark DiSanto, a director of the Company, is the trustee and has sole voting and dispositive power for the DiSanto Trust.

Executive Officer

In April 2013, the Company purchased $2,300 in used equipment from our Chief Executive Officer to be utilized at our New York City location. The purchase price was at the estimated fair market value of the equipment.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

12.

Subsequent Events

Acquisition of the Judith Ripka Trademarks

On April 3, 2014, JR Licensing, LLC, a wholly-owned subsidiary of Xcel (“JR Licensing”) entered into an asset purchase agreement dated April 1, 2014 (the “Purchase Agreement”) with Judith Ripka Berk (“Ms. Ripka”), an individual, and certain companies owned by Ms. Ripka including Judith Ripka Creations (collectively “Ripka”), pursuant to which JR Licensing purchased from Ripka certain assets, including the Judith Ripka and Judith Ripka Sterling trademarks and other intellectual property rights (the “Ripka Brand”). On the closing date of the acquisition, the Company paid Ripka $12.0 million in cash, $6.0 million through the issuance of interest free notes payable (the “Ripka Notes”), and 571,429 shares of the Company’s stock. The Ripka Notes have a term of five years from the date of issuance, are payable in cash or shares of Xcel Common Stock valued at the time of payment, at the Company’s option, and with a floor price of $7.00 per share if paid in stock, with Ripka having certain rights to extend the maturity of the Ripka Notes in the event the Company’s stock is trading at a price of less than $7.00 per share. The Company is obligated to pay Ripka an additional $1.0 million on October 1, 2014 and an additional $1.2 million on April 1, 2015. In addition, the Company agreed to pay Ripka additional consideration of up to $5 million in aggregate (the “Ripka Earn-out”), payable in cash or shares of the Company’s Common Stock based on the fair market value of our Common Stock at the time of payment, and with a floor of $7.00 per share, based on the Ripka Brand achieving in excess of $1 million of net royalty income during each of the 12-month periods beginning on October 1, 2015 and ending on October 1, 2018, less the sum of all earn out payments for any prior earn-out period. Net royalty income shall not include any revenues generated by direct-response television sales or any revenue accelerated as a result of termination.

Concurrent with the acquisition of the Ripka Brand, the Company entered into (i) a license agreement with QVC, Inc. that provides for a royalty to be paid to the Company by QVC based on net sales of products under the Ripka Brand (the “JR/QVC Agreement”), and (ii) a license with an affiliate of Ripka that will design, source, market, and promote products under the Ripka Brand to wholesale accounts, through an e-commerce site which Xcel will operate, and through Ripka owned retail stores (the “Wholesale Business”). The license with the Wholesale Business will provide for a royalty payable to the Company based on its wholesale sale of products under the Ripka Brand. The Company issued to QVC a Warrant (the “QVC Warrant”) to purchase a number of shares of our Common Stock equal to (i) 4.75% of the number of shares of common stock of Xcel issued and outstanding on the date the QVC Warrant becomes exercisable less (ii) 571,429 shares of our Common Stock (subject to adjustment in the event of a stock split, combination, or stock dividend). The QVC Warrant is exercisable at a price of $.001 per share and becomes exercisable only upon Judith Ripka becoming obligated to make a specified payment to QVC under the JR/QVC Agreement and remains exercisable until such obligation is satisfied in full.

Concurrent with the acquisition of the Ripka Assets, JR Licensing entered into a $9 million 5-year term loan with BHI (the “JR Loan”). The JR Loan is secured by all of the assets of JR Licensing and a guarantee from Xcel secured by a pledge of Xcel’s membership interest in JR Licensing and by a guarantee from IM Brands, secured by a pledge of all of IM Brands’ assets. The JR Loan bears interest at an annual variable rate of either, LIBOR plus 3.5% or Prime plus 0.50%, at JR Licensing’s option, payable, if the JR Loan is bearing interest based on LIBOR, on the last business day of the applicable interest period and, if the JR Loan is bearing interest based on Prime, quarterly in arrears on the first day of each calendar quarter. Scheduled quarterly principal payments are as follows:

Date of Payment	Amount of Principal Payment

April 1, 2015, July 1, 2015, October 1, 2015 and January 1, 2016	$	375,000

April 1, 2016, July 1, 2016, October 1, 2016 and January 1, 2017	$	625,000

April 1, 2017, July 1, 2017, October 1, 2017 and January 1, 2018	$	750,000

April 1, 2018, July 1, 2018, October 1, 2018 and January 1, 2019	$	500,000

In addition, JR Licensing shall prepay the outstanding amount of the JR Loan from excess cash flow (“Cash Flow Recapture”) for each fiscal year commencing with the year ending December 31, 2015 in arrears in an amount equal to fifty percent (50%) of such Cash Flow Recapture. Cash Flow Recapture shall mean for any fiscal period, cash provided by operating activities for such period less (a) capital expenditures not made through the incurrence of indebtedness less (b) all interest and principal (including indebtedness owed for the JR Loan) paid or payable during such period less (c) the portion of the holdback amount paid or payable pursuant to the Purchase Agreement during such period less (d) payments made during such period by JR Licensing to Xcel equal to the estimated tax liability of Xcel resulting from any taxable income (net of losses, including for prior years to the extent permitted to be deducted) of JR Licensing. JR Licensing also executed a guaranty of our outstanding $13 million loan with BHI, in favor of BHI, secured by a pledge of all of JR Licensing’s assets.

Financial Covenants. The Company is required to maintain;

⋅

minimum fixed charge ratio, of 1.20 to 1.00 for the periods ending on or prior to December 31, 2015 and not less than 1.10 to 1.00 for periods commencing on and after March 31, 2016;

⋅

minimum EBITDA (as defined in the BHI loan documents), not be less than $5,500,000 for the fiscal year ending December 31, 2014, not less than $7,500,000 for the fiscal year ending December 31, 2015, not less than $11,000,000 for the fiscal year ending on December 31, 2016 and not less than $12,000,000 for fiscal year ending December 31, 2017 and each fiscal year end thereafter;

⋅

$31 million minimum net worth;

⋅

$3 million minimum liquidity covenants;

⋅

and other non-monetary covenants, including reporting requirements and trademark preservation in accordance with the terms and conditions of the JR Loan.

In addition, JR Licensing is required to maintain minimum EBITDA of $3 million for the fiscal year ending December 31, 2014, not less than $4 million for the fiscal year ending December 31, 2015 and not less than $5 million for the fiscal year ending December 31, 2016 and each fiscal year end thereafter. EBITDA for JR licensing shall exclude allocated corporate overhead.

On April 1, 2014, the Company entered into a three-year employment agreement with Ms. Ripka such that she will serve as the Chief Design Officer of the Judith Ripka brand and perform duties and obligations under agreements with the Company’s licensees or any other third party pursuant to which Ms. Ripka has agreed to, and is obligated to, perform personal services. Thereafter, the agreement will renew automatically for one-year periods, unless either party gives written notice of intent to terminate at least 30 days prior to such termination. Ms. Ripka’s base salary is $750,000 per annum, and Ms. Ripka is entitled to other benefits including (a) non-accountable expenses of $114,000 per year, (b) $1,000 per month for rent for her Florida office, (c) the employment of a personal assistant, and (d) first class travel expenses.

Bonus. Ms. Ripka shall be eligible to receive an annual cash bonus (the “Bonus”) for each calendar year during the Term (or any partial fiscal year during the Term), equal to ten percent (10%) of the direct response television royalty income during such calendar year in excess of $6 million.

The Ripka Brand acquisition will be accounted for as an asset purchase.

New Loan Amendment

On April 3, 2014 and in conjunction with the Ripka Brand acquisition and entering into the JR Loan, the Company amended the New Loan. The amendments include:

⋅

Minimum EBITDA of IM Brands shall not be less than $6,000,000 for the fiscal year ending December 31, 2014, not less than $9,000,000 for the fiscal year ending December 31, 2015, not less than $11,000,000 for the fiscal year ending December 31, 2016 and not less than $12,500,000 for the fiscal year ending December 31, 2017 and each fiscal year end thereafter. EBITDA for IM Brands shall exclude allocated corporate overhead;

⋅

Minimum EBITDA of the Company shall not be less than $5,500,000 for the fiscal year ending December 31, 2014, not less than $7,500,000 for the fiscal year ending December 31, 2015, not less than $11,000,000 for the fiscal year ending on December 31, 2016 and not less than $12,000,000 for fiscal year ending December 31, 2017 and each fiscal year end thereafter;

⋅

Capital Expenditures of Guarantor and its Subsidiaries on a consolidated basis in any fiscal year shall not exceed $1,300,000;

⋅

$31 million minimum net worth;

⋅

$3 million minimum liquidity covenants;

⋅

on and after January 1 2015, IM Brands shall repay an amount equal to fifty percent (50%) of Cash Flow Recapture until such time as principal payments received by BHI for the New Loan and the JR Loan is equal to or greater than $1 million in the aggregate (other than a result of scheduled payments), then twenty percent (20%).

Restricted Stock Grant

On January 1, 2014, the Company issued to management and a key employee an aggregate of 825,000 shares of restricted stock. The vesting date of 550,000 shares of restricted stock is July 1, 2014, and the remaining 275,000 shall vest evenly over the periods ending September 30, 2014, 2015 and 2016, provided, however, that each such grantee has the right to extend the vesting dates by six-month increments in their sole discretion, prior to the date the restrictions would lapse.

The fair value of the restricted shares on the grant date is approximately $3.3 million, and the compensation expense will be recognized over the vesting periods without regard to extensions.

Executive Employment Amendment

Effective February 1, 2014, the Company entered into an employment agreement with Marisa Gardini (“Ms. Gardini”) superseding a three-year employment agreement with Ms. Gardini that was set to expire on September 29, 2014 (the “Previous Employment Agreement”). The term of employment and performance of services by Ms. Gardini under of this agreement may be terminated by either party upon thirty (30) day notice to the other party. Ms. Gardini’s salary was $250,000, $250,000 and $500,000 per annum, respectively, in the first three successive 12-month periods following September 29, 2011, the effective date of the Previous Employment Agreement, however effective February 1, 2014, Ms. Gardini’s base salary shall be $18,000 per annum. Ms. Gardini resigned as Executive Vice President of Strategic Planning and Marketing, but remains a director of the Company.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

Fair Value Measurement, Policy [Policy Text Block]

Fair Value

Receivables, Policy [Policy Text Block]

Accounts Receivable

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Trademarks, Goodwill and Other Intangible Assets

Deferred Finance Costs [Policy Text Block]

Deferred Finance Costs

Inventory, Policy [Policy Text Block]

Inventory

Contingent Obligation, Policy [Policy Text Block]

Contingent Obligations

Income Tax, Policy [Policy Text Block]

Income Taxes

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

We recognize revenue from our retail store upon sale of our products to retail consumers, net of estimated returns.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Stock-Based Compensation

Advertising Costs, Policy [Policy Text Block]

Advertising Costs

Lease, Policy [Policy Text Block]

Operating Leases

Earnings Per Share, Policy [Policy Text Block]

Earnings per Share

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

Trademarks, Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill [Table Text Block]

Trademarks, and other intangibles, net consist of the following:

	December 31, 2013		December 31, 2012
Trademarks	$	44,500,000	$	44,500,000
Licensing agreements		2,000,000		2,000,000
Accumulated amortization, licensing agreements		(1,192,000)		(665,000)
Net carrying amount	$	45,308,000	$	45,835,000

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The following table presents amortization expense for licensing agreements over the remaining useful life:

Year Ending	Carrying Value		Amortization Expense
December 31, 2014		279,000		529,000
December 31, 2015		-		279,000

Debt (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Debt [Table Text Block]

The Company’s net carrying amount of debt is comprised of the following:

	December 31,
	2013		2012
Term Note	$	13,000,000	$	12,579,000
Seller Note		5,045,000		6,306,000
Contingent obligation – due to seller		6,681,000		11,466,000
Other long term liabilities		57,000		45,000
Total		24,783,000		30,396,000
Current portion		565,000		1,350,000
Total long term debt	$	24,218,000	$	29,046,000

Schedule Optional Prepayment Applicable Premium Percentage [Table Text Block]

Optional Prepayment. IM Brands could have prepaid the Old Loan in whole or in part in increments of $500,000, provided that IM Brands paid the following premiums in connection with the prepayment:

Period	Applicable Premium
Prior to September 29, 2013		2	%
Prior to September 29, 2014		1	%
On or After September 29, 2014		0	%

Schedule of Maturities of Long-term Debt [Table Text Block]

Scheduled quarterly principal payments are as follows:

Date of Payment	Amount of Principal Payment

April 1, 2015, July 1, 2015, October 1, 2015 and January 1, 2016	$	375,000

April 1, 2016, July 1, 2016, October 1, 2016 and January 1, 2017	$	625,000

April 1, 2017, July 1, 2017, October 1, 2017 and January 1, 2018	$	750,000

April 1, 2018, July 1, 2018, October 1, 2018 and January 1, 2019	$	500,000

Debt Instrument Principal Payments [Table Text Block]

Scheduled principal payments (including amortization of imputed interest) are as follows:

Payment Date	Payment Amount		Amount Payable in Cash (i)		Amount Payable in Cash with Restrictions (ii)		Amount Payable in Stock (iii)
December 24, 2013	$	1,500,000	$	1,500,000	$	-		-
January 31, 2015	$	750,000	$	500,000	$	250,000		250,000
January 31, 2016	$	750,000	$	-	$	750,000		750,000
September 30, 2016	$	4,377,432	$	-	$	-		4,377,432

(i)

$1,500,000 was paid prior to December 31, 2013.

(ii)

(iii)

Schedule Of Royalty Targets and Percentage Of Potential Earn Out Value [Table Text Block]

The royalty targets and percentage of the potential earn-out value are as follows:

ROYALTY TARGET PERIOD	ROYALTY TARGET		EARN-OUT VALUE

Royalty Target Period (October 1, 2014 to September 30, 2015)	$	24,000,000	$	7,500,000

IM Ready will receive a percentage of the Earn-Out Value based upon the percentage of the actual net royalty income of the Isaac Mizrahi Business to the royalty target as set forth below.

APPLICABLE PERCENTAGE	% OF EARN-OUT VALUE EARNED
Less than 76%		0	%
76% up to 80%		40	%
80% up to 90%		70	%
90% up to 95%		80	%
95% up to 100%		90	%
100% or greater		100	%

Term Loan [Member]

Schedule of Maturities of Long-term Debt [Table Text Block]

Scheduled principal payments are as follows:

Date of Payment	Amount of Principal Payment

October 1, 2014, January 1, 2015, April 1, 2015 and July 1, 2015	$	250,000

October 1, 2015, January 1, 2016, April 1, 2016 and July 1, 2016	$	625,000

October 1, 2016, January 1, 2017, April 1, 2017 and July 1, 2017	$	750,000

October 1, 2017, January 1, 2018 and April 1, 2018	$	875,000

July 1, 2018	$	3,875,000

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

The fair value for the Warrants was estimated $.12 for each warrant to purchase one share of Common Stock using the Black-Scholes option-pricing model with the following weighted-average assumptions:

Expected Volatility (i)	22.5	%
Expected Dividend Yield	0	%
Expected Life Term (ii)	2.5
Risk-Free Interest Rate	0.39	%

(i)

Due to the Company’s limited trading activity, the Company used the average volatility of similar companies in its industry.

(ii)

The fair value for these options and Warrants was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Year Ended December 31, 2013			Year Ended December 31, 2012
Expected Volatility (i)		21-22	%		39-40	%
Expected Dividend Yield		0	%		0	%
Expected Life (Term) (ii)		1-3 years			4-5 years
Risk-Free Interest Rate		0.21 – 0.39	%		0.70% - 0.80	%

(i)

Due to the Company’s limited trading activity, the Company used the average volatility of companies in its industry.

(ii)

Due to the Company’s limited history, the expected life of options was calculated using the ‘simplified method’ in accordance SAB Topic 14.02 in accordance with SAB No. 110.

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Summary of the Company’s stock options for the years ended December 31, 2013 and 2012 are as follows:

			Weighted-Average
	Options		Exercise Price
Outstanding at January 1, 2012		267,125	$	5.00
Granted		105,500		3.00
Canceled		-		-
Exercised		-		-
Expired/Forfeited		(27,625)		(3.06)
Outstanding at December 31, 2012		345,000		4.54
Granted		-		-
Canceled		-		-
Exercised		-		-
Expired/Forfeited		(1,875)		(3.40)
Outstanding and expected to vest at December 31, 2013		343,125	$	4.55
Exercisable at December 31, 2013		304,500	$	4.75

Schedule of Share-based Compensation, Stock Warrant Activity [Table Text Block]

A summary of the Company’s Warrants for the years ended December 31, 2013 and 2012 is as follows:

			Weighted-Average
	Warrants		Exercise Price
Outstanding at January 1, 2012		1,219,543	$	1.95
Granted		75,000		5.50
Canceled		-		-
Exercised		(162,500)		(0.01)
Expired/Forfeited		-		-
Outstanding at December 31, 2012		1,132,043		2.47
Granted		337,500		5.00
Canceled		-		-
Exercised		-		-
Expired/Forfeited		-		-
Outstanding at December 31, 2013		1,469,543	$	3.05
Exercisable at December 31, 2013		1,457,043	$	3.03

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

A summary of the Company’s restricted stock for the year ended December 31, 2013 and 2012 is as follows:

	Restricted Shares		Weighted- Average Grant Date Fair value
Outstanding at January 1, 2012		17,125	$	3.34
Granted		1,544,943		3.00
Canceled		-		-
Vested		(596,586)		3.00
Expired/Forfeited		(875)		3.34
Outstanding at December 31, 2012		964,607		3.00
Granted		1,399,750		3.86
Canceled		-		-
Vested		(336,178)		3.01
Expired/Forfeited		(1,625)		3.82
Outstanding at December 31, 2013		2,026,554	$	3.59

Schedule Of Common Stock Repurchased [Table Text Block]

The following table provides information with respect to purchases by the Company of restricted stock during the Current Year and Prior Year.

Date	Total Number of Shares Purchased (a)		Average Price Paid per Share		Number of Shares Purchased as Part of Publically Announced Plan		Fair value of re-purchased shares
November 15, 2012		218,163	$	3.00		-	$	654,000
December 1, 2012		18,870		3.00		-		56,000
Total 2012		237,033					$	710,000

November 15, 2013		153,896	$	3.86		-	$	594,000
December 1, 2013		7,272		3.86		-		28,000
Total 2013		161,168				-	$	622,000

(a)

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

A reconciliation of shares used in calculating basic and diluted earnings per share follows:

	Year Ended December 31, 2013		Year Ended December 31, 2012
Basic		9,193,101		6,936,452
Effect of exercise of options and Warrants		598,392		641,109
Diluted		9,791,493		7,577,561

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Future Minimum Lease Payments For Non Capital Leases [Table Text Block]

Future minimum lease payments under the terms of these noncancelable operating lease agreements are as follows:

	Lease Payments
Year ending December 31, 2014		721,000
Year ending December 31, 2015		751,000
Year ending December 31, 2016		119,000
Total future noncancelable minimum lease payments	$	1,591,000

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The Company has contracts with certain executives and key employees. The future minimum payments under these contracts are:

	Employment Contract Payments
Year ending December 31, 2014	$	2,472,000
Year ending December 31, 2015		1,128,000
Year ending December 31, 2016		834,000
Total future minimum employment contract payments	$	4,434,000

Income taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax provision (benefit) for federal, and state and local income taxes in the consolidated statements of operations consists of the following:

	Year Ended December 31,
	2013		2012
Current:
Federal	$	(110,000)	$	109,000
State and local		(33,000)		53,000
Total current		(143,000)		162,000

Deferred:
Federal		(1,173,000)		(754,000)
State and local		(86,000)		(174,000)
Total deferred		(1,259,000)		(928,000)
Total provision (benefit)	$	(1,402,000)	$	(766,000)

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The reconciliation of income tax computed at the Federal and state statutory rate to the Company’s income before taxes are as follows:

	Year Ended December 31,
	2013			2012
U.S. statutory federal rate		34.0	%		34.0	%
State and local, net of federal tax		(66.4)	%		6.3	%
Gain on reduction of contingent obligation		(1,251.5)	%		(72.5)	%
Excess compensation deduction		112.5	%		-	%
Deferred tax adjustment		96.5	%		6.7	%
Other permanent differences		(2.8)	%		3.6	%
Income tax provision (benefit)		(1,077.7)	%		(21.9)	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of net deferred tax liabilities of the Company consist of the following:

	December 31, 2013		December 31, 2012
Deferred tax assets
Federal state and local net operating loss carryforwards	$	70,000	$	-
Property and equipment		117,000		34,000
Stock-based compensation		2,738,000		1,439,000
Accrued compensation and other accrued expenses		280,000		91,000
Allowance for doubtful accounts		16,000		10,000
Royalty advances		156,000		222,000
Other		18,000		-
Total deferred tax assets	$	3,395,000	$	1,796,000

Deferred tax liabilities
Basis difference arising from discounted note payable		(339,000)		(602,000)
Basis difference arising from intangible assets of acquisition		(11,974,000)		(11,371,000)
Total deferred tax liabilities		(12,313,000)		(11,973,000)
Net deferred tax liabilities	$	(8,918,000)	$	(10,177,000)

	December 31,		December 31,
	2013		2012
Net current deferred tax asset	$	49,000	$	101,000
Net non-current deferred tax liabilities		(8,967,000)		(10,278,000)
Net deferred tax liabilities	$	(8,918,000)	$	(10,177,000)

Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The following table presents the key performance information of the Company’s reportable segments:

	Year Ended December 31,
	2013		2012
Revenue:
Net licensing revenue	$	11,546,000	$	10,432,000
Design and service fee income		1,619,000		2,271,000
Design and licensing revenues		13,165,000		12,703,000
Retail sales		203,000		-
Total revenues	$	13,368,000	$	12,703,000

Operating income (loss):
Design and licensing	$	2,195,000	$	5,693,000
Retail		(339,000)		-
Total operating income	$	1,856,000	$	5,693,000

	December 31,
Long Lived Assets	2013		2012
Trademarks and other intangibles, net :
Design and licensing	$	45,308,000	$	45,835,000
Retail		-		-
Total Trademarks and other intangibles, net	$	45,308,000	$	45,835,000

Property and equipment :
Design and licensing	$	939,000	$	1,113,000
Retail		214,000		-
Total property and equipment	$	1,153,000	$	1,113,000

	December 31,
	2013		2012
Depreciation and amortization :
Design and licensing	$	873,000	$	856,000
Retail		20,000		-
Total depreciation and amortization	$	893,000	$	856,000

Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Schedule of Maturities of Long-term Debt [Table Text Block]

Scheduled quarterly principal payments are as follows:

Date of Payment	Amount of Principal Payment

April 1, 2015, July 1, 2015, October 1, 2015 and January 1, 2016	$	375,000

April 1, 2016, July 1, 2016, October 1, 2016 and January 1, 2017	$	625,000

April 1, 2017, July 1, 2017, October 1, 2017 and January 1, 2018	$	750,000

April 1, 2018, July 1, 2018, October 1, 2018 and January 1, 2019	$	500,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Summary Of Significant Accounting Policies [Line Items]
Probability of Tax Benefit, Percentage	50.00%
Accounts receivable, net	$ 3,541,000	$ 3,428,000
Allowance for Doubtful Accounts Receivable	39,000	25,000
Inventory Write-down	5,000
Gain Loss On Reduction of Contingent Obligations	5,122,000	6,300,000
Accrued Fees and Other Revenue Receivable	$ 174,000	$ 699,000
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Estimated Useful Lives (in years)	3
Finite-Lived Intangible Asset, Useful Life	4 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Estimated Useful Lives (in years)	7
Finite-Lived Intangible Asset, Useful Life	5 years

Trademarks, Goodwill and Other Intangibles (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Finite-Lived Intangible Assets [Line Items]
Trademarks	$ 44,500,000	$ 44,500,000
Licensing agreements	2,000,000	2,000,000
Accumulated amortization, licensing agreements	(1,192,000)	(665,000)
Net carrying amount	$ 45,308,000	$ 45,835,000

Trademarks, Goodwill and Other Intangibles (Details 1)	Dec. 31, 2013 USD ($)
Year Ending December 31, 2014 [Member]
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Licensing Agreements, Carrying Value	$ 279,000
Amortization Expense, Next Twelve Months	529,000
Year Ending December 31, 2015 [Member]
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Licensing Agreements, Carrying Value	0
Amortization Expense, Year Two	$ 279,000

Trademarks, Goodwill and Other Intangibles (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Research and Development Assets Acquired Other than Through Business Combination [Line Items]
Amortization of Intangible Assets	$ 527,000	$ 527,000
Goodwill	$ 12,371,000	$ 12,371,000

Significant Contracts (Details Textual) - USD ($)	12 Months Ended
Significant Contracts (Details Textual) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Business Acquisition [Line Items]
Revenue from Royalty, Percentage		61.00%
Accounts Receivables, Percentage		55.00%
Royalty Agreement With QVC [Member]
Business Acquisition [Line Items]
Royalty Revenue	$ 8,130,000	$ 7,690,000
Revenue from Royalty, Percentage	61.00%
Accounts Receivable, Gross	$ 2,060,000	1,900,000
Accounts Receivables, Percentage	55.00%
Accrued Fees and Other Revenue Receivable	$ 152,000
Royalty Agreement With LCNY [Member]
Business Acquisition [Line Items]
Royalty Revenue	$ 1,570,000	$ 1,710,000
Revenue from Royalty, Percentage	12.00%	13.00%
Accounts Receivable, Gross	$ 610,000	$ 700,000
Accounts Receivables, Percentage	18.00%	20.00%

Debt (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Term Note	$ 13,000,000	$ 12,579,000
Seller Note	5,045,000	6,306,000
Contingent obligation - due to seller	6,681,000	11,466,000
Other long term liabilities	57,000	45,000
Total	24,783,000	30,396,000
Current portion	565,000	1,350,000
Total long term debt	$ 24,218,000	$ 29,046,000

Debt (Details 1)	12 Months Ended
Debt (Details 1)	Dec. 31, 2013
Prior to September 29, 2013 [Member]
Debt Instrument [Line Items]
Applicable Premium	2.00%
Prior To September 29, 2014 [Member]
Debt Instrument [Line Items]
Applicable Premium	1.00%
On Or After September 29, 2014 [Member]
Debt Instrument [Line Items]
Applicable Premium	0.00%

Debt (Details 2)	12 Months Ended
Debt (Details 2)	Dec. 31, 2013 USD ($)
October 1, 2014, January 1, 2015, April 1, 2015 and July 1, 2015 [Member]
Debt Instrument [Line Items]
Amount Of Principal Payment	$ 250,000
October 1, 2015, January 1, 2016, April 1, 2016 and July 1, 2016 [Member]
Debt Instrument [Line Items]
Amount Of Principal Payment	625,000
October 1, 2016, January 1, 2017, April 1, 2017 and July, 2017 [Member]
Debt Instrument [Line Items]
Amount Of Principal Payment	750,000
October 1, 2017, January 1, 2018 and April 1, 2018 [Member]
Debt Instrument [Line Items]
Amount Of Principal Payment	875,000
July 1, 2018 [Member]
Debt Instrument [Line Items]
Amount Of Principal Payment	$ 3,875,000

Debt (Details 3)

Dec. 31, 2013

USD ($)

December 24, 2013 [Member]

Debt Instrument [Line Items]

Debt Instrument, Payment Amount

$ 1,500,000

Debt Instrument, Amount Payable in Cash

1,500,000

^[1]

Debt Instrument, Amount Payable in Cash with Restrictions

$ 0

^[2]

Debt Instrument, Amount Payable in Stock | shares

^[3]

January 31, 2015 [Member]

Debt Instrument [Line Items]

Debt Instrument, Payment Amount

$ 750,000

Debt Instrument, Amount Payable in Cash

500,000

^[1]

Debt Instrument, Amount Payable in Cash with Restrictions

$ 250,000

^[2]

Debt Instrument, Amount Payable in Stock | shares

250,000

^[3]

January 31, 2016 [Member]

Debt Instrument [Line Items]

Debt Instrument, Payment Amount

$ 750,000

Debt Instrument, Amount Payable in Cash

^[1]

Debt Instrument, Amount Payable in Cash with Restrictions

$ 750,000

^[2]

Debt Instrument, Amount Payable in Stock | shares

750,000

^[3]

September 30, 2016 [Member]

Debt Instrument [Line Items]

Debt Instrument, Payment Amount

$ 4,377,432

Debt Instrument, Amount Payable in Cash

^[1]

Debt Instrument, Amount Payable in Cash with Restrictions

$ 0

^[2]

Debt Instrument, Amount Payable in Stock | shares

4,377,432

^[3]

[1]	$1,500,000 was paid prior to December 31, 2013.
[2]	Amounts payable in cash with restrictions are subject to BHI approving the cash payment. If BHI does not approve the cash payment, the amount shall be payable in shares of Common Stock subject to the provisions described above.
[3]	This includes the last payment on the Amended Maturity Date and may include amounts payable in cash with restrictions whereby BHI provides approval and the amount would be paid with the Company’s Common Stock. Amounts payable with the Company’s Common Stock shall be subject to the provisions described above.

Debt (Details 4)	12 Months Ended
Debt (Details 4)	Dec. 31, 2013 USD ($)
Fourth Royalty Target Period [Member]
Debt Instrument [Line Items]
ROYALTY TARGET	$ 24,000,000
EARN-OUT VALUE	$ 7,500,000
ROYALTY TARGET PERIODS	Royalty Target Period (October 1, 2014 to September 30, 2015)
Applicable Less than 76% [Member]
Debt Instrument [Line Items]
% OF EARN-OUT VALUE EARNED	0.00%
Applicable 76% up to 80% [Member]
Debt Instrument [Line Items]
% OF EARN-OUT VALUE EARNED	40.00%
Applicable 80% up to 90% [Member]
Debt Instrument [Line Items]
% OF EARN-OUT VALUE EARNED	70.00%
Applicable 90% up to 95% [Member]
Debt Instrument [Line Items]
% OF EARN-OUT VALUE EARNED	80.00%
Applicable 95% up to 100% [Member]
Debt Instrument [Line Items]
% OF EARN-OUT VALUE EARNED	90.00%
Applicable 100% or Greater [Member]
Debt Instrument [Line Items]
% OF EARN-OUT VALUE EARNED	100.00%

Debt (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
Debt (Details Textual) - USD ($)	Sep. 29, 2011	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Long-term Debt, Contingent Payment of Principal or Interest		The principal amount of the Loan was payable quarterly as follows:2.5% on January 5, 2013 through October 5, 2013; 3.75% on January 5, 2014 through October 5, 2014; 6.25% on January 5, 2015 through October 5, 2015; 12.5% on January 5, 2016 through the maturity date, which is the date that is 5 years after the Closing Date.
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		8.50%
Other Long-Term Debt		$ 57,000	$ 45,000
Proceeds from Issuance of Long-term Debt, Total		$ 13,000,000	0
Debt Instrument, Description		Company is required to prepay the outstanding amount of the New Loan from excess cash flow (Cash Flow Recapture) for each fiscal year commencing with the year ending December 31, 2014 in arrears in an amount equal to twenty percent (20%) of such Cash Flow Recapture.
Gains (Losses) on Extinguishment of Debt		$ (1,351,000)	422,000
Debt Instrument, Unamortized Deferred Costs And Discount		381,000
Acceleration of Loan Discount		781,000
Debt Related Commitment Fees and Debt Issuance Costs		$ 189,000
Debt Instrument, Maturity Date, Description		(i) the fair market value of the Common Stock on the Maturity Date and (ii) $4.50 subject to certain adjustments; provided, however, that if the fair market value of the Common Stock is less than $4.50 as adjusted, IM Ready will have the option to extend the maturity of the Seller Note to the Subsequent Maturity Date. If the maturity date of the Seller Note is so extended, IM Ready will have the option to convert the Seller Note into Common Shares based on the greater of (i) the fair market value of the Common Stock on the Subsequent Maturity Date and (ii) $4.50, subject to certain adjustments. If the maturity date of the Seller Note is extended, we will also have the option to repay the outstanding principal amount of the Seller Note on the Subsequent Maturity Date in cash or by issuing the number of shares of Common Stock obtained by dividing the principal amount of the Note outstanding on the Subsequent Maturity Date by the fair market value of the Common Stock on the Subsequent Maturity Date. In addition, at any time the Seller Note is outstanding, we have the right to convert the Note, in whole or in part, into the number of shares of Common Stock obtained by dividing the principal amount to be converted by the fair market value of the Common Stock at the time of the conversion, so long as the fair market value of our Common Stock is at least $4.50.
Other Notes Payable, Noncurrent		$ 5,045,000	6,306,000
Interest Expense, Debt		$ 882,000	1,148,000
Prepayment Fee Percentage		1.50%
Restructure Of Seller Note		$ 337,000	0
Liabilities, Current		2,411,000	3,136,000
Long-term Debt		24,783,000	30,396,000
QVC Earn-Out [Member]
Debt Instrument [Line Items]
Earn Out Payments		$ 2,800,000
Seller Note [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 7,377,000
Stated Interest Rate on Note Payable	0.25%	0.25%
Subordinated Borrowing, Interest Rate	9.25%	6.44%
Debt Instrument, Unamortized Discount	$ 1,740,000
Unamortization of Debt Discount (Premium)		$ 576,000	541,000
Imputed Annual Interest Rate	9.00%
Initial Outstanding Value of Long-term Debt or Borrowing	$ 5,637,000
Initial Prepaid Interest	123,000
Other Notes Payable, Noncurrent		5,045,000	6,306,000
Interest Expense, Debt		617,000	579,000
Restructure Of Seller Note		337,000
Seller Note [Member] \| Midmarket Capital Partners Llc [Member]
Debt Instrument [Line Items]
Long-term Debt, Principal Payments	$ 13,500,000
IM Ready Made LLC [Member]
Debt Instrument [Line Items]
Other Long-Term Debt		500,000
Earn Out Payments		6,700,000	11,500,000
Repayment Of Contingent Obligation		315,000
IM Ready Made LLC [Member] \| QVC Earn-Out [Member]
Debt Instrument [Line Items]
Earn Out Payments		$ 2,800,000
Earn-Out Obligation [Member]
Debt Instrument [Line Items]
Exercise Price of Common Stock		$ 4.50
Royalty Earn Out Value		$ 7,500,000
Earn Out Payments		3,900,000
Gain on Reduction of Contingent Obligations		5,100,000	6,300,000
Liabilities, Current			300,000
Long-term Debt		3,600,000	$ 8,700,000
QVC Inc [Member]
Debt Instrument [Line Items]
Business Acquisitions, Net Royalty Income		$ 2,500,000
Business Acquisition, Description of Acquired Entity		stock based upon the greater of (x) $4.50 per share, and (y) the average stock price for the last twenty days prior to the time of such issuance (the “QVC Earn-out’). The current term of the QVC Agreement, as amended runs through September 30, 2020.
Royalty Revenue, Total		$ 2,500,000
Hapoalim B.M [Member]
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		4.44%

Stockholders' Equity (Details)

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected Volatility

^[1]

22.50%

Expected Dividend Yield

0.00%

Expected Life (Term)

^[2]

2 years 6 months

Risk-Free Interest Rate

0.39%

Equity Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected Volatility Rate, Minimum

^[3]

21.00%

39.00%

Expected Volatility Rate, Maximum

^[3]

22.00%

40.00%

Expected Dividend Yield

0.00%

Risk-Free Interest Rate, Minimum

0.21%

0.70%

Risk-Free Interest Rate, Maximum

0.39%

0.80%

Minimum [Member] | Equity Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected Life (Term)

^[4]

1 year

4 years

Maximum [Member] | Equity Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected Life (Term)

^[4]

3 years

5 years

[1]	Due to the Company’s limited trading activity, the Company used the average volatility of similar companies in its industry.
[2]	Due to the Company’s limited history, the expected life of options was calculated using the ‘simplified method’ in accordance with Staff Accounting Bulletin (“SAB”) Topic 14.02 in accordance with SAB No. 110.
[3]	Due to the Company’s limited trading activity, the Company used the average volatility of companies in its industry.
[4]	Due to the Company’s limited history, the expected life of options was calculated using the ‘simplified method’ in accordance SAB Topic 14.02 in accordance with SAB No. 110.

Stockholders' Equity (Details 1) - $ / shares	12 Months Ended
Stockholders' Equity (Details 1) - $ / shares	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Outstanding, Beginning Balance	345,000	267,125
Options, Granted	0	105,500
Options, Canceled	0	0
Options, Exercised	0	0
Options, Expired/Forfeited	(1,875)	(27,625)
Options, Outstanding, Ending Balance	343,125	345,000
Options, Exercisable at December 31, 2013	304,500
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 4.54	$ 5.00
Weighted-Average Exercise Price, Granted	0	3.00
Weighted-Average Exercise Price Canceled	0	0
Weighted-Average Exercise Price, Exercised	0	0
Weighted-Average Exercise Price, Expired/Forfeited	(3.40)	(3.06)
Weighted Average Exercise Price, Outstanding, Ending Balance	4.55	$ 4.54
Weighted-Average Exercise Price, Exercisable at December 31, 2013	$ 4.75

Stockholders' Equity (Details 2) - Warrant [Member] - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants, Outstanding, Beginning Balance	1,132,043	1,219,543
Warrants, Granted	337,500	75,000
Warrants, Canceled	0	0
Warrants, Exercised	0	(162,500)
Warrants, Expired/Forfeited	0	0
Warrants, Outstanding, Ending Balance	1,469,543	1,132,043
Warrants, Exercisable at December 31, 2013	1,457,043
Weighted-Average Exercise Price, Outstanding, Beginning Balance	$ 2.47	$ 1.95
Weighted-Average Exercise Price, Granted	5.00	5.50
Weighted-Average Exercise Price, Canceled	0	0
Weighted-Average Exercise Price, Exercised	0	(0.01)
Weighted-Average Exercise Price, Expired/Forfeited	0	0
Weighted-Average Exercise Price, Outstanding, Ending Balance	3.05	$ 2.47
Weighted-Average Exercise Price, Exercisable at December 31, 2013	$ 3.03

Stockholders' Equity (Details 3) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares, Outstanding, Beginning Balance	964,607	17,125
Restricted Shares, Granted	1,399,750	1,544,943
Restricted Shares, Canceled	0	0
Restricted Shares, Vested	(336,178)	(596,586)
Restricted Shares, Expired/Forfeited	(1,625)	(875)
Restricted Shares, Outstanding, Ending Balance	2,026,554	964,607
Weighted-Average Exercise Price, Outstanding, Beginning Balance	$ 3.00	$ 3.34
Weighted-Average Grant Date Fair Value, Granted	3.86	3.00
Weighted-Average Grant Date Fair Value, Canceled	0	0
Weighted-Average Grant Date Fair Value, Vested	3.01	3.00
Weighted-Average Grant Date Fair Value, Expired/Forfeited	3.82	3.34
Weighted-Average Exercise Price, Outstanding, Ending Balance	$ 3.59	$ 3.00

Stockholders' Equity (Details 4) - USD ($)

1 Months Ended

12 Months Ended

Dec. 31, 2013

Nov. 15, 2013

Dec. 31, 2012

Nov. 15, 2012

Dec. 31, 2013

Dec. 31, 2012

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value of re-purchased shares

$ 622,000

$ 711,000

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total Number of Shares Purchased

^[1]

7,272

153,896

18,870

218,163

161,168

237,033

Average Price Paid per Share (in dollars per share)

$ 3.86

$ 3.00

Number of Shares Purchased as Part of Publically Announced Plan

Fair value of re-purchased shares

$ 28,000

$ 594,000

$ 56,000

$ 654,000

$ 622,000

$ 710,000

[1]

Stockholders' Equity (Details Textual) - USD ($)

1 Months Ended

12 Months Ended

Jun. 05, 2013

Dec. 31, 2013

Nov. 15, 2013

Oct. 04, 2013

Jun. 05, 2013

May 01, 2013

Apr. 30, 2013

Apr. 01, 2013

Dec. 31, 2012

Nov. 15, 2012

Jun. 01, 2012

May 31, 2012

Apr. 17, 2012

Jan. 23, 2012

Dec. 31, 2013

Dec. 31, 2012

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock, Shares, Issued

10,005,509

7,339,979

10,005,509

7,339,979

Proceeds from Issuance of Common Stock

$ 5,000,000

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

1,625

Warrants Issued for the Purchase of Common Stock

312,500

Common Stock, Capital Shares Reserved for Future Issuance

3,909,002

Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date

10.00%

Shares Issued, Price Per Share

$ 3.86

Sale of Stock, Price Per Share

3.499

Exercise Price of Warrants

$ 5.00

Common Stock, Par or Stated Value Per Share

$ 0.001

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value

$ 0

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value

$ 0

Private Placement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Term Of Warrants

5 years

Adam Dweck [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants Issued To Purchase Common Stock Two

12,500

25,000

12,500

Warrants Exercise Price Two

$ 5.00

Class Of Warrant Or Rights Expired

Aug. 02, 2016

Warrant Vested During First Milestone

12,500

Warrant Vested During Second Milestone

12,500

Management [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock, Shares, Issued

1,428,573

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

2 years

Non Executive Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

2 years

Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Forfeited In Period

Allocated Share-based Compensation Expense

$ 33,000

$ 44,000

Warrant [Member] | Maximum [Member] | Equity Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 0.12

Licensee Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants Issued for the Purchase of Common Stock

75,000

Exercise Price of Common Stock

$ 5.50

Term Of Warrants

5 years

Discount On Licensing Revenue

$ 5,000

5,000

Additional Amount Expected To Be Amortized

13,000

Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated Share-based Compensation Expense

69,000

$ 65,000

Expected Share Based Compensation Expenses For Next 4 Months

$ 13,000

Stock Options Issued Shares Former Equity Plan

576

Stock Options Issued Value Per Share Former Equity Plan

$ 728

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 0.99

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

3 years 7 months 6 days

4 years 7 months 10 days

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term

3 years 29 days

4 years 11 days

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Repurchased During Period, Shares

^[1]

7,272

153,896

18,870

218,163

161,168

237,033

Allocated Share-based Compensation Expense

$ 4,741,000

$ 4,514,000

Expected Share Based Compensation Expenses For Next 16 Months

$ 826,000

Equity Incentive Plan 2011 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted Stock Award Exercise Price Per Share

$ 3.86

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

2,095,758

Common Stock, Eligible for Issuance

5,000,000

Equity Incentive Plan 2011 [Member] | Management [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

1,270,000

256,608

1,150,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

195,000

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

827,776

Stock Repurchased During Period, Shares

218,163

153,896

Restricted Stock Award Exercise Price Per Share

$ 3.00

Equity Incentive Plan 2011 [Member] | Management [Member] | May 15 2013 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options, Shares expected to vest after December 31, 2012

37,500

Equity Incentive Plan 2011 [Member] | Management [Member] | May 15 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

322,224

Options, Shares expected to vest after December 31, 2012

37,500

Equity Incentive Plan 2011 [Member] | Management [Member] | November 15 2013 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

1,075,000

Equity Incentive Plan 2011 [Member] | Management [Member] | March 31 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

1,075,000

Equity Incentive Plan 2011 [Member] | Management [Member] | June 1 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

256,608

Equity Incentive Plan 2011 [Member] | Non Executive Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

29,750

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures

105,500

Restricted Stock Award Exercise Price Per Share

$ 3.00

Percentage Of Share Based Payment Award Vested In Year One

50.00%

Equity Incentive Plan 2011 [Member] | Non Executive Employees [Member] | April 30 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Of Share Based Payment Award Vested In Year One

50.00%

Equity Incentive Plan 2011 [Member] | Non Executive Employees [Member] | April 30 2015 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Of Share Based Payment Award Vested In Year Two

50.00%

Equity Incentive Plan 2011 [Member] | Non Management Directors [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

100,000

138,335

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

88,863

Stock Repurchased During Period, Shares

7,272

18,870

Restricted Stock Award Exercise Price Per Share

$ 3.86

$ 3.00

Equity Incentive Plan 2011 [Member] | Non Management Directors [Member] | December 1 2013 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

138,335

Equity Incentive Plan 2011 [Member] | Non Management Directors [Member] | March 31 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Of Share Based Payment Award Vested In Year One

50.00%

Equity Incentive Plan 2011 [Member] | Non Management Directors [Member] | March 31 2015 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Of Share Based Payment Award Vested In Year Two

50.00%

Equity Incentive Plan 2011 [Member] | Non Management Directors [Member] | June 1 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

49,472

Equity Incentive Plan 2011 [Member] | Management Warrants [Member] | March 31 2014 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Of Share Based Payment Award Vested In Year One

50.00%

Equity Incentive Plan 2011 [Member] | Management Warrants [Member] | March 31 2015 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Of Share Based Payment Award Vested In Year Two

50.00%

Equity Incentive Plan 2011 [Member] | Restricted Stock [Member] | Non Executive Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Forfeited In Period

1,500

26,750

[1]

Earnings Per Share (Details) - shares	12 Months Ended
Earnings Per Share (Details) - shares	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share Basic And Diluted [Line Items]
Basic	9,193,101	6,936,452
Effect of exercise of options and Warrants	598,392	641,109
Diluted	9,791,493	7,577,561

Earnings Per Share (Details Textual) - shares	12 Months Ended
Earnings Per Share (Details Textual) - shares	Dec. 31, 2013	Dec. 31, 2012
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	886,050	548,550
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	265,875	345,000

Commitments and Contingencies (Details)	Dec. 31, 2013 USD ($)
Commitments and Contingencies [Line Items]
Year ending December 31, 2014	$ 721,000
Year ending December 31, 2015	751,000
Year ending December 31, 2016	119,000
Total future noncancelable minimum lease payments	$ 1,591,000

Commitments and Contingencies (Details 1)	Dec. 31, 2013 USD ($)
Commitments and Contingencies [Line Items]
Year ending December 31, 2014	$ 2,472,000
Year ending December 31, 2015	1,128,000
Year ending December 31, 2016	834,000
Total future minimum employment contract payments	$ 4,434,000

Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Commitments and Contingencies [Line Items]
Lease Expiration Date	Mar. 31, 2016
Operating Leases, Rent Expense	$ 708,000	$ 619,000

Income taxes (Details) - USD ($)	12 Months Ended
Income taxes (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Current:
Federal	$ (110,000)	$ 109,000
State and local	(33,000)	53,000
Total current	(143,000)	162,000
Deferred:
Federal	(1,173,000)	(754,000)
State and local	(86,000)	(174,000)
Total deferred	(1,259,000)	(928,000)
Total provision (benefit)	$ (1,402,000)	$ (766,000)

Income taxes (Details 1)	12 Months Ended
Income taxes (Details 1)	Dec. 31, 2013	Dec. 31, 2012
Schedule of Trading Securities and Other Trading Assets [Line Items]
U.S. statutory federal rate	34.00%	34.00%
State and local, net of federal tax	(66.40%)	6.30%
Gain on reduction of contingent obligation	(1251.50%)	(72.50%)
Excess compensation deduction	112.50%	0.00%
Deferred tax adjustment	96.50%	6.70%
Other permanent differences	(2.80%)	3.60%
Income tax provision (benefit)	(1077.70%)	(21.90%)

Income taxes (Details 2) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Deferred tax assets
Federal state and local net operating loss carryforwards	$ 70,000	$ 0
Property and equipment	117,000	34,000
Stock-based compensation	2,738,000	1,439,000
Accrued compensation and other accrued expenses	280,000	91,000
Allowance for doubtful accounts	16,000	10,000
Royalty advances	156,000	222,000
Other	18,000	0
Total deferred tax assets	3,395,000	1,796,000
Deferred tax liabilities
Basis difference arising from discounted note payable	(339,000)	(602,000)
Basis difference arising from intangible assets of acquisition	(11,974,000)	(11,371,000)
Total deferred tax liabilities	(12,313,000)	(11,973,000)
Net deferred tax liabilities	(8,918,000)	(10,177,000)
Net current deferred tax asset	49,000	101,000
Net non-current deferred tax liabilities	(8,967,000)	(10,278,000)
Net deferred tax liabilities	$ (8,918,000)	$ (10,177,000)

Income taxes (Details Textual) - USD ($)	12 Months Ended
Income taxes (Details Textual) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward	$ 207,000	$ 0
Gain On Reduction Of Contingent Obligations	$ 5,100,000

Segment Information (Details) - USD ($)	12 Months Ended
Segment Information (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Revenue:
Net licensing revenue	$ 11,546,000	$ 10,432,000
Design and service fee income	1,619,000	2,271,000
Design and licensing revenues	13,165,000	12,703,000
Retail sales	203,000	0
Total revenues	13,368,000	12,703,000
Operating income (loss):
Total operating income	1,856,000	5,693,000
Long Lived Assets
Total Trademarks and other intangibles, net	45,308,000	45,835,000
Total property and equipment	1,153,000	1,113,000
Depreciation and amortization :
Total depreciation and amortization	893,000	856,000
Design And Licensing [Member]
Operating income (loss):
Total operating income	2,195,000	5,693,000
Long Lived Assets
Total Trademarks and other intangibles, net	45,308,000	45,835,000
Total property and equipment	939,000	1,113,000
Depreciation and amortization :
Total depreciation and amortization	873,000	856,000
Retail [Member]
Operating income (loss):
Total operating income	(339,000)	0
Long Lived Assets
Total Trademarks and other intangibles, net	0	0
Total property and equipment	214,000	0
Depreciation and amortization :
Total depreciation and amortization	$ 20,000	$ 0

Related Party Transactions (Details Textual) - USD ($)		1 Months Ended				12 Months Ended
Related Party Transactions (Details Textual) - USD ($)	Jun. 05, 2013	Oct. 04, 2013	Jun. 05, 2013	Jul. 10, 2012	Aug. 02, 2011	Dec. 31, 2013	Dec. 31, 2012	Sep. 29, 2011
Related Party Transaction [Line Items]
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized							$ 94,000
Related Party Transaction, Amounts of Transaction						$ 459,000	217,000
Proceeds from Issuance of Common Stock	$ 5,000,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party						2,300
Todd Slater [Member]
Related Party Transaction [Line Items]
Commission Rate to Related Party				15.00%
Fees Earned Separate from Buy Out Payment						46,000	31,000
Related Party Transaction, Amounts of Transaction				$ 163,000
Adam Dweck [Member]
Related Party Transaction [Line Items]
Commission Rate to Related Party					5.00%
Fees Earned Separate from Buy Out Payment						$ 20,000	13,000
Warrants Exercise Price One						$ 5.00
Related Party Transaction Amounts Of Transaction One						$ 500,000
Warrants Issued To Purchase Common Stock Two		25,000				12,500
Warrants Exercise Price Two		$ 5.00				$ 5.00
Related Party Transaction Amounts Of Transaction Two						$ 1,000,000
Warrants Issued To Purchase Common Stock Three						25,000
Related Party Transaction Amounts Of Transaction Three						$ 2,000,000
Class Of Warrant Or Rights Expired		Aug. 02, 2016				Aug. 02, 2016
Warrant Vested During First Milestone		12,500				12,500
Warrant Vested During Second Milestone		12,500				12,500
Warrant Issued To Purchase Common Stock						$ 2,500
Jones Texas, Inc [Member]
Related Party Transaction [Line Items]
Commission Rate to Related Party						15.00%
Fees Earned Separate from Buy Out Payment						$ 0	$ 3,000
Earthbound, Llc [Member]
Related Party Transaction [Line Items]
Due from Related Parties								$ 1,500,000
Threadstone Advisors, LLC [Member]
Related Party Transaction [Line Items]
Fees Earned Separate from Buy Out Payment			$ 280,000
Proceeds from Issuance Initial Public Offering			$ 4,000,000
Equity Method Investment, Ownership Percentage	5.00%		5.00%
DiSanto Trust [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Common Stock						285,715
Stock Issued During Period, Shares, Purchase Of Warrants						62,500
Proceeds from Issuance of Common Stock						$ 1,000,000

Subsequent Events (Details) - Subsequent Event [Member]	12 Months Ended
Subsequent Events (Details) - Subsequent Event [Member]	Dec. 31, 2013 USD ($)
April 1, 2015, July 1, 2015, October 1, 2015 and January 1, 2016 [Member]
Subsequent Event [Line Items]
Amount of Principal Payment	$ 375,000
April 1, 2016, July 1, 2016, October 1, 2016 and January 1, 2017 [Member]
Subsequent Event [Line Items]
Amount of Principal Payment	625,000
April 1, 2017, July 1, 2017, October 1, 2017 and January 1, 2018 [Member]
Subsequent Event [Line Items]
Amount of Principal Payment	750,000
April 1, 2018, July 1, 2018, October 1, 2018 and January 1, 2019 [Member]
Subsequent Event [Line Items]
Amount of Principal Payment	$ 500,000

Subsequent Events (Details Textual)	1 Months Ended				9 Months Ended	12 Months Ended
Subsequent Events (Details Textual)	Apr. 01, 2015 USD ($)	Oct. 01, 2014 USD ($)	Apr. 03, 2014 USD ($) $ / Warrant	Apr. 30, 2013 USD ($)	Dec. 31, 2016	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2012 USD ($)	Apr. 30, 2014 USD ($)
Subsequent Event [Line Items]
Debt Instrument, Maturity Date, Description										(i) the fair market value of the Common Stock on the Maturity Date and (ii) $4.50 subject to certain adjustments; provided, however, that if the fair market value of the Common Stock is less than $4.50 as adjusted, IM Ready will have the option to extend the maturity of the Seller Note to the Subsequent Maturity Date. If the maturity date of the Seller Note is so extended, IM Ready will have the option to convert the Seller Note into Common Shares based on the greater of (i) the fair market value of the Common Stock on the Subsequent Maturity Date and (ii) $4.50, subject to certain adjustments. If the maturity date of the Seller Note is extended, we will also have the option to repay the outstanding principal amount of the Seller Note on the Subsequent Maturity Date in cash or by issuing the number of shares of Common Stock obtained by dividing the principal amount of the Note outstanding on the Subsequent Maturity Date by the fair market value of the Common Stock on the Subsequent Maturity Date. In addition, at any time the Seller Note is outstanding, we have the right to convert the Note, in whole or in part, into the number of shares of Common Stock obtained by dividing the principal amount to be converted by the fair market value of the Common Stock at the time of the conversion, so long as the fair market value of our Common Stock is at least $4.50.
Repayments of Debt										$ 0	$ 556,000
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Minimum Fixed Charge Ratio, Start Range					1.10			1.20
Minimum Fixed Charge Ratio, End Range					1.00			1.00
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year One									$ 5,500,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Two								$ 7,500,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Three							$ 11,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Four						$ 12,000,000
Scenario, Forecast [Member] \| JR Licensing, LLC [Member]
Subsequent Event [Line Items]
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year One									3,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Two								4,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Three							5,000,000
New Loan Amendment [Member] \| Scenario, Forecast [Member]
Subsequent Event [Line Items]
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year One									5,500,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Two								$ 7,500,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Three							11,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Four						12,000,000
New Loan Amendment [Member] \| Scenario, Forecast [Member] \| JR Licensing, LLC [Member]
Subsequent Event [Line Items]
Percentage of Prepayment of Loan								20.00%
Repayments of Debt								$ 1,000,000
New Loan Amendment [Member] \| Scenario, Forecast [Member] \| IM Brands, LLC [Member]
Subsequent Event [Line Items]
Percentage of Cash Flow Recapture Considered for Prepayment of Secured Debt								50.00%
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year One									$ 6,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Two								$ 9,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Three							$ 11,000,000
Minimum Earnings before Interest, Taxes, Depreciation, and Amortization, Year Four						$ 12,500,000
Judith Ripka Berk [Member] \| Scenario, Forecast [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 1,200,000	$ 1,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Guaranty of Outstanding Loan										13,000,000
Minimum Liquidity Covenants			$ 3,000,000
Minimum Net Worth Required for Compliance			31,000,000
Stock Repurchased During Period, Value			$ 571.429
Subsequent Event [Member] \| Chief Design Officer [Member]
Subsequent Event [Line Items]
Payments for Rent, Monthly				$ 1,000
Base Salary												$ 750,000
Non Accountable Expenses				$ 114,000
Subsequent Event [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.50%
Subsequent Event [Member] \| Prime Rate [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Subsequent Event [Member] \| Parent Company [Member]
Subsequent Event [Line Items]
Percentage of Common Stock Issued and Outstanding			4.75%
Subsequent Event [Member] \| New Loan Amendment [Member]
Subsequent Event [Line Items]
Minimum Liquidity Covenants			$ 3,000,000
Maximum Capital Expenditures of Guarantor and its Subsidiaries			1,300,000
Minimum Net Worth Required for Compliance			$ 31,000,000
Subsequent Event [Member] \| Executive Vice President [Member] \| First Year of Employment Agreement [Member]
Subsequent Event [Line Items]
Officers Compensation										250,000
Subsequent Event [Member] \| Executive Vice President [Member] \| Second Year of Employment Agreement [Member]
Subsequent Event [Line Items]
Officers Compensation										250,000
Subsequent Event [Member] \| Executive Vice President [Member] \| Third Year of Employment Agreement [Member]
Subsequent Event [Line Items]
Officers Compensation										500,000
Subsequent Event [Member] \| Director [Member]
Subsequent Event [Line Items]
Agreed Officers Compensation										18,000
Subsequent Event [Member] \| Judith Ripka Berk [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross										$ 12,000,000
Stock Issued During Period, Shares, Acquisitions \| shares										571,429
Maximum Earn-Outs Payable										$ 5,000,000
Required Royalties for Payment of Earn-Outs										1,000,000
Proceeds from Issuance of Secured Debt										$ 9,000,000
Percentage of Cash Flow Recapture Considered for Prepayment of Secured Debt										50.00%
Debt Instrument, Maturity Date, Description										5-year term loan
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / Warrant			0.001
Annual Cash Bonus Percentage										10.00%
Royalty Revenue, Total										$ 6,000,000
Subsequent Event [Member] \| Judith Ripka Berk [Member] \| Demand Notes [Member]
Subsequent Event [Line Items]
Debt Instrument, Face Amount										$ 6,000,000
Debt Instrument, Term										5 years
Floor Price Per Share for Conversion of Debt \| $ / shares										$ 7.00
Subsequent Event [Member] \| Restricted Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures \| shares										825,000
Non Option Equity Instruments, Vesting Conditions										The vesting date of 550,000 shares of restricted stock is July 1, 2014, and the remaining 275,000 shall vest evenly over the periods ending September 30, 2014, 2015 and 2016, provided, however, that each such grantee has the right to extend the vesting dates by six-month increments in their sole discretion, prior to the date the restrictions would lapse.
Sharebased Compensation Arrangement By Sharebased Payment Award Restricted Shares On The Grant Date Fair Value										$ 3,300,000