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Asset Acquisition [Text Block]

Acquisition of C Wonder Trademarks

On July 31, 2015, the Company and its wholly owned subsidiary, C Wonder Licensing, completed the acquisition of certain assets of Burch Acquisition, LLC (the “CW Seller”), including the “C Wonder” trademark and other intellectual property relating thereto, pursuant to an asset purchase agreement (the “CW Purchase Agreement”) dated as of July 16, 2015 with the CW Seller and, solely with respect to certain non-compete and confidentiality provisions of the CW Purchase Agreement, J. Christopher Burch.

In accordance with the CW Purchase Agreement, the Company delivered (i) $2,500,000 in cash and 500,000 shares of common stock of the Company to the CW Seller (the “Closing Consideration”) and (ii) $500,000 in cash and 500,000 shares of common stock of the Company into escrow for purposes of future indemnification obligations of the CW Seller (the “Escrow Consideration”). In addition to the foregoing consideration, Burch LLC will be eligible to earn additional cash (or, at our discretion, shares of our common stock), payable, if at all, after June 30, 2019 based on the royalties related directly to the C Wonder Brand. The value of this additional consideration, or earn-out, will be calculated as the positive amount, if any, of (i) two times (A) the maximum net royalties from license agreements as calculated for any single 12 month period commencing on July 1 and ending on June 30 between the C Wonder closing and June 30, 2019, less (B) $4.0 million, plus (ii) two times the maximum royalty determined based on a percentage of the retail and wholesale sales of C Wonder branded products by Xcel as calculated for any single 12 month period commencing on July 1 and ending on June 30 between the C Wonder closing and June 30, 2019.

On July 15, 2015, the Company and C Wonder Licensing entered into a license agreement with QVC, Inc. dated July 31, 2015, which became effective upon the closing of the C Wonder acquisition (the “QVC License Agreement”). Pursuant to the QVC License Agreement, C Wonder designs and QVC markets, promotes, distributes and sells various products under the C Wonder Brand name in exchange for a royalty based on net retail sales of the products. The initial license period expires on December 31, 2020. After the initial term, the QVC License Agreement automatically renews for additional three-year terms in perpetuity unless either party notifies the other of its intention not to renew at least sixty (60) days prior to the end of the then-current term.

The C Wonder Brand acquisition was accounted for as an asset purchase. The aggregate purchase price has been allocated to the following assets based on the fair value of the assets on the date of acquisition:

Allocated to:
Trademarks	$	15,437,000
Total acquisition price	$	15,437,000

Trademarks have been determined by management to have an estimated useful life of 15 years and accordingly, amortization expense of $429,000 has been recorded in the Company’s consolidated statements of operations for the Current Year.

The following represents the aggregate purchase price of $15.4 million, including legal and other fees of $0.59 million:

Cash paid	$	3,000,000
Fair value of Common Stock issued (1,000,000 shares)		9,000,000
C Wonder Earn-Out obligation (at fair value, see Note 8)		2,850,000
Direct transaction expenses		587,000
Total consideration	$	15,437,000

Acquisition of H Halston Trademarks

12 Months Ended

Dec. 31, 2015

H Halston Trademarks [Member]

Asset Acquisition [Text Block]

4. Acquisition of H Halston Trademarks

On December 22, 2014, the Company and its wholly owned subsidiary, H Licensing, entered into an asset purchase agreement (the "H Asset Purchase Agreement") with The H Company IP, LLC (“HIP”), and its parent, House of Halston LLC (“HOH”), pursuant to which the Company acquired certain assets of HIP, including the “H by Halston” and “H Halston” trademarks (collectively, the “H Halston Brands”) and other intellectual property rights relating thereto. Benjamin Malka, a director of the Company, is a 24% equity holder of HOH, and Chief Executive Officer of HOH.

Pursuant to the H Asset Purchase Agreement, the Company delivered (i) $18,023,090 in cash; (ii) 1,000,000 shares of its Common Stock to HIP and (iii) warrants to purchase up to 750,000 shares of the Company’s Common Stock to HIP’s designee. The warrants are exercisable for a period of five years following the closing date at an exercise price of $12.00 per share (see Note 9).

Pursuant to voting agreements entered into on December 22, 2014 (the “Voting Agreement”), each of HIP and HIP’s Designee appointed Robert W. D’Loren, the Company’s Chief Executive Officer, President and Chairman of the Board, as its irrevocable proxy and attorney-in-fact with respect to the shares of the Company’s Common Stock and warrants received by it in connection with the transaction, respectively. As proxy holder, Mr. D’Loren is required to vote in favor of matters recommended or approved by the board of directors.

Pursuant to a lock-up agreement entered into on December 22, 2014, HIP agreed that during the twelve (12) months from the closing date, in the case of HIP’s stock consideration, or during the twelve (12) months from the date any shares are issued to HIP pursuant to the Trademark License Agreement (defined below) (collectively, the “Lock-up Shares”), HIP may not, subject to certain exceptions, offer, sell, pledge, hypothecate, grant an option for sale or otherwise dispose of, or transfer or grant any rights with respect to, any of the Lock-Up Shares. HIP’s designee entered into a similar lock-up agreement with respect to the warrants. The Company has agreed to file a registration statement covering the Lock-Up Shares and the warrants and use commercially reasonable efforts to cause the registration statement to become effective within sixty (60) days after the expiration of the initial twelve (12) month lock-up period and remain effective for specified time periods.

Concurrent with the acquisition of the H Halston Brands, the Company entered into (i) a license agreement with QVC that provides for a royalty to be paid to the Company by QVC based on net sales of products under the H Halston Brands (the “QVC Halston Agreement”), and (ii) a license with HIP (the “Trademark License Agreement”) that will sub-license, manufacture, distribute, promote, advertise and sell products bearing the H Halston trademark and any related services thereto in all channels of distribution, excluding direct-response television and its related e-commerce and digital distribution, and excluding certain mass retailers. The license with HIP provides for minimum royalties payable to the Company. The initial term of the Trademark License Agreement expires on December 31, 2019, unless sooner terminated or renewed. After the initial term, HIP shall be entitled to renew the Trademark License Agreement on three occasions, each for five (5) year terms, as long as HIP is in compliance with all terms and conditions of the agreement. HIP may terminate the agreement prior to the expiration of the initial term without penalties, fees or payment of future royalties upon 90 day notice prior to the second anniversary of the closing. HIP shall pay royalties to H Licensing during the term, with a minimum guaranteed royalty of $600,000 per year during the initial term for 2016 through 2024 and $1,200,000 for any year thereafter. In the event HIP exercises the early termination right, H Licensing shall pay HIP a participation fee for each of the three following years in an amount not to exceed $4,000,000 ($5,000,000 if H Licensing distributes, or otherwise enters into any agreements for the distribution of products bearing the H Halston trademark in China). The participation fee, if any, may be paid in cash or shares of our common stock based on the greater of $8.00 and the value weighted average price of the common stock for the five business days preceding payment.

As more fully described in Note 8, concurrent with the acquisition of the H Halston Brands, H Licensing entered into a $10 million, five year term loan with the Company’s senior lender, Bank Hapoalim B.M. (“BHI”), and amended the existing IM Term Loan (as defined in Note 8) and JR Term Loan (as defined in Note 8).

The H Halston Brands acquisition was accounted for as an asset purchase. The aggregate purchase price has been allocated to the following assets based on the fair value of the assets on the date of acquisition:

Allocated to:
Trademarks	$	27,562,000
Non-compete agreement		562,000
Total acquisition price	$	28,124,000

Trademarks have been determined by management to have an indefinite useful life and accordingly, no amortization is recorded in the Company’s consolidated statements of operations. The non-compete agreement is amortized on a straight-line basis over its expected useful life of seven years.

The following represents the aggregate purchase price of $28.1 million, including legal and other fees of $0.49 million:

Cash paid	$	18,023,000
Fair value of Common Stock issued (1,000,000 shares)		9,000,000
Fair value of warrants to purchase 750,000 shares of Common Stock (see Note 9)		611,000
Direct transaction expenses		490,000
Total consideration	$	28,124,000

Acquisition of Judith Ripka Trademarks

12 Months Ended

Dec. 31, 2015

Judith Ripka Trademarks [Member]

Asset Acquisition [Text Block]

5. Acquisition of Judith Ripka Trademarks

On April 3, 2014, JR Licensing entered into an asset purchase agreement dated April 1, 2014 (the “JR 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, the Ripka Brand, including the Judith Ripka and Judith Ripka Sterling trademarks and other intellectual property rights. On April 3, 2014, the closing date of the acquisition, the Company paid Ripka $12.0 million in cash, issued promissory notes in the aggregate principal amount of $6.0 million (the “Ripka Seller Notes”) (see Note 8) and issued 571,429 shares of the Company’s Common Stock. The Company was also obligated to pay to Ripka $1.0 million (the “First Installment”) and $1.2 million (the “Second Installment”) in cash or shares of the Company’s Common Stock on October 1, 2014 and April 1, 2015, respectively, subject to approval by BHI. The First Installment payment was amended to $0.9 million and the date was extended to and paid on February 23, 2015. The extension did not result in any penalty or cost to the Company. The Second Installment was amended to $1.3 million. In addition, the Company agreed to pay Ripka additional contingent consideration of up to $5 million in the aggregate, payable in cash or shares of the Company’s Common Stock (see Note 8).

Concurrent with the acquisition of the Ripka Brand, the Company entered into (i) a license agreement with QVC that provides for a royalty to be paid to the Company by QVC based on net sales of products under the Ripka Brand (the “QVC Ripka 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 the Company will operate, and through Ripka owned retail stores (the “Wholesale Business”). The license with the Ripka affiliate provides 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 the Company’s Common Stock equal to (i) 4.75% of the number of shares of the Company’s Common Stock issued and outstanding on the date the QVC Warrant becomes exercisable less (ii) 571,429 shares of the Company’s 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 Ms. Ripka becoming obligated to make a specified payment to QVC under the QVC Ripka Agreement and remains exercisable until such obligation is satisfied in full. Management has determined that the probability of the warrants becoming exercisable is highly unlikely and, therefore, no value was assigned to them as of December 31, 2015.

Concurrent with the acquisition of the Ripka Brand, JR Licensing entered into a $9 million, five year term loan with BHI and amended the then existing IM Term Loan, as more fully described in Note 8.

On April 1, 2014, the Company entered into a three-year employment agreement with Ms. Ripka pursuant to which she serves as the Chief Design Officer of the Ripka Brand and performs duties and obligations under agreements with the Company’s licensees or any other third party. 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 she 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.

Ms. Ripka is also eligible to receive an annual cash bonus for each calendar year during the term of her employment (or any partial fiscal year during the term) equal to 10% of the direct-response television royalty income for the Ripka Brand products during such calendar year in excess of $6 million. Ms. Ripka earned a cash bonus of $4,000 and $16,000 for the years ended December 31, 2015 and 2014, respectively.

The Ripka Brand acquisition was accounted for as an asset purchase. The aggregate purchase price was allocated to the following assets based on the fair value of the assets on the date of acquisition:

Allocated to:
Trademarks	$	24,600,000
Copyrights and other intellectual property		190,000
Total acquisition price	$	24,790,000

Trademarks have been determined by management to have an indefinite useful life and accordingly, no amortization is recorded in the Company’s consolidated statements of operations. Copyrights and other intellectual property are amortized on a straight-line basis over their expected useful lives of ten years.

The following represents the aggregate purchase price of $24.8 million, including legal and other fees of $0.39 million:

Cash paid	$	11,975,000
Installment payment due February 23, 2015		1,000,000
Installment payment due April 1, 2015		1,190,000
Ripka Seller Notes (at fair value, see Note 8)		4,165,000
Fair value of Common Stock issued (571,429 shares)		2,286,000
Ripka Earn-Out obligation (at fair value, see Note 8)		3,784,000
Direct transaction expenses		390,000
Total consideration	$	24,790,000

Trademarks, Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

6. Trademarks, Goodwill and Other Intangibles

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

	December 31,
	2015		2014
Trademarks	$	112,113,000	$	96,662,000
Licensing agreements		2,000,000		2,000,000
Non-compete agreement		562,000		562,000
Copyrights and other intellectual property		190,000		190,000
Accumulated amortization, trademarks, licensing and non-compete agreements		(2,542,000)		(1,735,000)
Net carrying amount	$	112,323,000	$	97,679,000

The following table presents amortization expense over the remaining useful lives of the definite lived intangible assets:

	Amortization
Year Ending December 31,	Expense
2016	$	1,128,000
2017		1,128,000
2018		1,128,000
2019		1,128,000
2020		1,128,000
Thereafter		10,007,000
Total	$	15,647,000

Amortization expense for intangible assets for the years ended December 31, 2015 and 2014 was $807,000 and $543,000, respectively. The trademarks of the Isaac Mizrahi Brand, the Ripka Brand and the H Halston Brands have been determined to have indefinite useful lives and, accordingly, consistent with ASC Topic 350, no amortization has been recorded in the Company’s consolidated statements of operations related to those intangible assets.

The Company has $12.4 million 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 or Prior Year.

Significant Contracts [Text Block]

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, 2015

Significant Contracts [Abstract]

7. Significant Contracts

QVC Agreements

Through its wholly owned subsidiaries, the Company has entered into direct-to-retail license agreements with QVC, pursuant to which the Company designs, and QVC sources and sells, various products under the IsaacMizrahiLIVE brand, the Judith Ripka brands, the H by Halston brand, and the C Wonder brand. These agreements include, respectively, the IM QVC Agreement, the Ripka QVC Agreement, the H QVC Agreement, and the C Wonder QVC Agreement (collectively, the “QVC Agreements”). QVC owns the rights to all designs produced under the QVC Agreements, and the QVC Agreements include the sale of products across various categories through QVC’s television media and related internet sites.

Pursuant to the agreements, the Company has granted to QVC and its affiliates the exclusive, worldwide right to promote the Company’s branded products, and the right to use and publish the related trademarks, service marks, copyrights, designs, logos, and other intellectual property rights owned, used, licensed and/or developed by us, for varying terms as set forth below. The Agreements include automatic renewal periods as detailed below unless terminated by either party.

	Current Term	Automatic	Xcel Commenced
Agreement	Expiry	Renewal	Brand with QVC	QVC Product Launch
IM QVC Agreement	September 30, 2020	one year period	September 2011	2010
Ripka QVC Agreement	March 31, 2019	one year period	April 2014	1999
H QVC Agreement	December 31, 2019	three year period	January 2015	September 2015
C Wonder QVC Agreement	January 1, 2021	three year period	August 2015	March 2016

In connection with the forgoing and during the same periods, QVC and its subsidiaries have the exclusive, worldwide right to use the names, likenesses, images, voices, and performances of the Company’s spokespersons to promote the respective products. Under the IM QVC Agreement, IM Brands has also granted to QVC and its affiliates, during the same period, exclusive, worldwide rights to promote third party vendor co-branded products that, in addition to bearing and being marketed in connection with the trademarks and logos of such third party vendors, also bear or are marketed in connection with the IsaacMizrahiLIVE trademark and related logo.

Under the QVC Agreements, QVC is obligated to make royalty payments to the Company on a quarterly basis, based upon the net retail sales of the specified respective branded products. Net retail sales are defined as the aggregate amount of all revenue generated through the sale of the specified respective branded products by QVC and its subsidiaries under the QVC Agreements, excluding freight, shipping and handling charges, customer returns, and sales, use or other taxes.

Also under the QVC Agreements, the Company will pay a royalty participation fee to QVC on revenue earned from the sale, license, consignment, or any other form of distribution of any products, bearing, marketed in connection with or otherwise associated with the specified respective trademarks and brands.

Under the Company’s QVC Agreements, QVC is required to pay the Company fees based primarily on a percentage of its net sales of Isaac Mizrahi, Ripka, H Halston, and C Wonder branded merchandise. QVC royalty revenue represents a significant portion of the Company’s total revenues. In addition, QVC pays the company design fees related to the LCNY brand. Pursuant to an agreement with Kate Spade Company (“KSC”), formerly Fifth & Pacific Companies, Inc. and formerly Liz Claiborne, Inc. (the “LCNY Agreement”), we provide certain design services related to the LCNY brand, which is sold exclusively through QVC.

Revenues from QVC, including fees related to LCNY brand, totaled $22.21 million and $16.43 million for the Current Year and Prior Year, respectively, representing 80% and 79% of the Company’s total revenues, respectively. As of December 31, 2015 and 2014, the Company had receivables from QVC of $6.40 million and $2.36 million, representing 84% and 65% of the Company’s receivables, respectively. The December 31, 2015 QVC receivables include $1.18 million of earned revenue that had been accrued but not billed as of December 31, 2015. The QVC receivables at December 31, 2014 had no earned revenue that was not billed.

Debt

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

8. Debt

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

	December 31,
	2015		2014
IM Term Loan (i)	$	11,375,000	$	12,750,000
JR Term Loan (i)		7,875,000		9,000,000
H Term Loan (i)		10,000,000		10,000,000
Net unamortized deferred finance costs related to term loans (ii)		(493,000)		(624,000)
IM Seller Note		4,918,000		5,366,000
Ripka Seller Notes		469,000		4,398,000
Contingent obligation - IM Seller		250,000		5,766,000
Contingent obligation - JR Seller		3,784,000		3,784,000
Contingent obligation - CW Seller		2,850,000		-
Total		41,028,000		50,440,000
Current portion (iii), (iv)		9,168,000		11,416,000
Long-term debt	$	31,860,000	$	39,024,000

(i)

Term loans outstanding as of December 31, 2015 were refinanced in February 2016, as described below.

(ii)

See Note 2, Summary of Significant Accounting Policies, Recent Accounting Pronouncements.

(iii)

$4.918 million of the current portion of long-term debt as of December 31, 2015 consists of the IM Seller Note, described below, which is payable in common stock or cash, at the Company’s option.

(iv)

The current portion of long-term debt presented on the consolidated balance sheet at December 31, 2015 includes $4.000 million related to term loan debt, reflecting scheduled January 2016 principal payments of $1.375 million under the term loans which existed as of December 31, 2015, plus $2.625 million of 2016 principal payments due under the refinanced term loan debt (the Xcel Term Loan, as defined below).

Term Loans

On August 1, 2013, IM Brands, LLC (“IM Brands”) entered into a $13 million five year term loan with BHI (as amended, the “IM Term Loan”). The IM Term 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.

On April 3, 2014, JR Licensing, LLC (“JR Licensing”) entered into a $9 million five year term loan with BHI (as amended, the “JR Term Loan”). The JR Term Loan is secured by all of the assets of JR Licensing and a guarantee from the Company secured by a pledge of the Company’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 Term 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 Term Loan is bearing interest based on LIBOR, on the last business day of the applicable interest period and, if the JR Term Loan is bearing interest based on Prime, quarterly in arrears on the first day of each calendar quarter.

On December 22, 2014, H Licensing, LLC (“H Licensing”) entered into a $10 million, five year term loan with BHI (“H Term Loan”). The H Term Loan is secured by (i) all of the assets of H Licensing, (ii) a guarantee by the Company, secured by a pledge of the Company’s membership interest in H Licensing, (iii) a guarantee from IM Brands, secured by a pledge of all of the assets of IM Brands, and (iv) a guarantee from JR Licensing, secured by a pledge of all of the assets of JR Licensing. The H Term Loan bears interest at an annual rate, as elected by H Licensing, of LIBOR plus 3.50% or Prime rate plus 0.50%. Interest on the H Term Loan accruing at a rate based on LIBOR is payable on the last business day of the applicable interest period, and interest on the H Term Loan accruing at a rate based on the Prime rate is payable quarterly in arrears on the first day of each calendar quarter.

The Company is required to maintain minimum fixed charge ratio and liquidity covenants and other non-monetary covenants, including reporting requirements and trademark preservation, in accordance with the terms and conditions of the IM Term Loan, the JR Term Loan, and the H Term Loan. As of December 31, 2015, the Company was in full compliance with all such covenants.

Scheduled quarterly principal payments of $625,000, $375,000, and $375,000 under the IM Term Loan, JR Term Loan, and H Term Loan, respectively, were paid in January 2016.

On February 26, 2016, Xcel and its wholly owned subsidiaries, IM Brands, JR Licensing, H Licensing, C Wonder Licensing, LLC, Xcel Design Group, LLC, IMNY Retail Management, LLC, and IMNY E-Store, USA, LLC (each a “Guarantor” and collectively, the “Guarantors”), as Guarantors, entered into an Amended and Restated Loan and Security Agreement (the “Loan Agreement”) with BHI, as agent (the “Agent”), and the financial institutions party thereto as lenders (the “Lenders”). The Loan Agreement amended and restated the IM Term Loan, the JR Term Loan, and the H Term Loan. Pursuant to the Loan Agreement, Xcel assumed the obligations of each of IM Brands, JR Licensing, and H Licensing under the applicable Existing Line Letters in the aggregate principal amount of $27,875,000 (the “Xcel Term Loan”).

The Xcel Term Loan matures on January 1, 2021. Principal on the Xcel Term Loan shall be payable in quarterly installments on each of January 1, April 1, July 1 and October 1 as follows, starting on April 1, 2016:

	Amount of
	Principal
Year Ending December 31,	Payment
2016(i)	$	2,625,000
2017		4,000,000
2018		4,000,000
2019		4,000,000
2020		4,000,000
2021		9,250,000
Total	$	27,875,000

(i)

Does not include $1.375 million in principal payments made on January 1, 2016.

Under the Loan Agreement, the Company has the right to prepay the Xcel Term Loan, provided that any prepayment of less than all of the outstanding balance shall be applied to the remaining amounts due in inverse order of maturity. If the Xcel Term Loan is prepaid on or prior to the third anniversary of the closing date (including as a result of an event of default), the Company shall pay an early termination fee as follows: an amount equal to the principal amount outstanding under the Term Loan on the date of prepayment, multiplied by: (i) two percent (2.00%) if the Xcel Term Loan is prepaid on or after the closing date and on or before the second anniversary of the closing date; (ii) one percent (1.00%) if the Xcel Term Loan is prepaid after the second anniversary of the closing date and on or before the third anniversary of the closing date; or (iii) zero percent (0.00%), if the Xcel Term Loan is prepaid after the third anniversary of the closing date.

Commencing with the fiscal year ending December 31, 2017, the Company is required to repay a portion of the Xcel Term Loan in an amount equal to 10% of the excess cash flow for the fiscal year; provided that no early termination fee shall be payable with respect to any such payment. Excess cash flow means, for any period, cash flow from operations (before certain permitted distributions) less (i) capital expenditures not made through the incurrence of indebtedness, (ii) all cash interest and principal and taxes paid or payable during such period, and (iii) all dividends declared and paid during such period to equity holders of any credit party treated as a disregarded entity for tax purposes.

Xcel’s obligations under the Loan Agreement are guaranteed by the Guarantors and secured by all of the assets of Xcel and the Guarantors (as well as any subsidiary formed or acquired that becomes a credit party to the Loan Agreement) and, subject to certain limitations contained in the Loan Agreement, equity interests of the Guarantors (as well as any subsidiary formed or acquired that becomes a credit party to the Loan Agreement).

Interest on the Xcel Term Loan accrues at a fixed rate of 5.1% per annum and is payable on each day on which the scheduled principal payments are required to be made.

The Loan Agreement contains customary covenants, including reporting requirements, trademark preservation, and the following financial covenants of the Company (on a consolidated basis with the Guarantors and any subsidiaries subsequently formed or acquired that become a credit party under the Loan Agreement):

net worth of at least $90,000,000 at the end of each fiscal quarter ending on June 30 and December 31 of each fiscal year;

liquid assets of at least $5,000,000, until such time as the ratio of indebtedness to EBITDA (as defined in the Loan Agreement) is less than 1.00 to 1.00 and, in which event, liquid assets must be at least $3,000,000;

a fixed charge ratio of at least 1.20 to 1.00 at each fiscal quarter ended June 30 and December 31 for the twelve fiscal month period ending on such date;

capital expenditures shall not exceed (i) $2,650,000 for the year ending December 31, 2016 and (ii) $700,000 for any fiscal year thereafter; and

EBITDA (as defined in the Loan Agreement) of at least $7,500,000 for the fiscal year ended December 31, 2015; $9,500,000 for the fiscal year ending December 31, 2016; and $9,000,000 for each fiscal year thereafter.

The Company was in compliance with all of these covenants as of December 31, 2015.

IM Seller Note

On September 29, 2011, as part of the consideration for the purchase of the Isaac Mizrahi Business, the Company issued to IM Ready-Made, LLC (“IM Ready”) a promissory note in the principal amount of $7,377,000 (as amended, the “IM Seller Note”). The stated interest rate of the IM Seller Note is 0.25% per annum. Management determined that this rate was below the Company’s expected borrowing rate, which was then estimated at 9.25% per annum. Therefore, the Company discounted the IM 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, on September 29, 2011, the Company prepaid $123,000 of interest on the IM Seller Note. The imputed interest amount is being amortized over the term of the IM Seller Note and recorded as other interest and finance expense on the Company’s consolidated statements of operations.

On December 24, 2013, the IM Seller Note was amended to (1) revise the maturity date to September 30, 2016 (the “Amended Maturity Date”), (2) revise the date to which the maturity date may be extended to September 30, 2018, (3) provide 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) require interim scheduled payments. The remaining scheduled principal payments (including amortization of imputed interest) are as follows:

	Payment
Payment Date	Amount
January 31, 2016 (i)	$	750,000
September 30, 2016 (ii)	$	4,377,000

(i)	Paid in cash in January 2016.

(ii)	Payable in stock or cash at the Company’s sole discretion. Amounts paid in cash require BHI’s approval.

For the Current Year and Prior Year, the Company incurred interest expense of $315,000 and $342,000, respectively, which includes amortization of the discount on the IM Seller Note of $301,000 and $321,000, respectively. The IM Seller Note balance, net of discount, at December 31, 2015 and 2014 was $4,918,000 and $5,366,000, respectively.

Ripka Seller Notes

On April 3, 2014, as part of the consideration for the purchase of the Ripka Brand, JR Licensing issued to Ripka promissory notes in the aggregate principal amount of $6,000,000 (the “Ripka Seller Notes”). The Ripka Seller Notes have a term of five years from the date of issuance, are payable in cash or shares of the Company’s 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 Seller Notes in the event the Company’s stock is trading at a price of less than $7.00 per share. On February 20, 2015, a portion of the Ripka Seller Notes was amended and satisfied.

Management determined that its expected borrowing rate is estimated to be 7.33% per annum and, therefore, discounted the Ripka Seller Notes by $1,835,000 using a 7.33% imputed annual interest rate, resulting in an initial value of $4,165,000. The imputed interest amount is being amortized over the term of the Ripka Seller Notes and recorded as other interest and finance expense on the Company’s consolidated statements of operations.

On February 20, 2015, the Company agreed to cancel Ripka Seller Notes in the principal amount of $3.0 million and execute in its place: (i) a $2.4 million principal amount promissory note issued in the name of Ripka (the “$2,400,000 Seller Note”) and (ii) a $600,000 principal amount promissory note issued in the name of Ripka (the “$600,000 Seller Note”), each with substantially the same terms as the Ripka Seller Notes; provided, however, that the Company and Ms. Ripka agreed that, upon Ripka’s assignment of the $600,000 Seller Note to a permitted assignee, the principal payments under the $600,000 Seller Note shall accelerate to be payable in eight equal quarterly installments of $75,000 with the first payment due on March 31, 2015 and with the final principal payment payable on December 31, 2016. As of the date of the filing of this Annual Report, the $600,000 Seller Note has not been assigned. The $2,400,000 Seller Note was assigned by Ripka to Judith Ripka Creations, Inc. and then assigned by Judith Ripka Creations, Inc. to Thai Jewelry Manufacturer Co. LTD. (“Thai Jewelry”).

On February 20, 2015, the Company entered into a release letter (the “Release Letter”) with Thai Jewelry, pursuant to which the Company agreed to issue to Thai Jewelry an aggregate of 266,667 shares of the Company’s Common Stock in exchange for the cancellation of the $2,400,000 Seller Note. On March 25, 2015, the Company issued the shares of Common Stock pursuant to the Release Letter. The carrying value, net of the discount at the time of the redemption of the $2.4 million Ripka Seller Notes was $1.79 million and, as a result, the Company recorded a loss on the early extinguishment of debt of $0.61 million during the Current Year, which is included in the accompanying consolidated statements of operations.

On April 21, 2015, the Company satisfied an additional $3 million principal amount of the Ripka Seller Notes by issuing 333,334 shares of the Company’s common stock. The carrying value, net of the discount at the time of the redemption of the $3 million Ripka Seller Notes was $2.24 million and, as a result, the Company recorded a loss on the early extinguishment of debt of $0.76 million during the Current Year.

For the Current Year and Prior Year, the Company incurred interest expense of $105,000 and $233,000, respectively, which consisted solely of amortization of the discount on the Ripka Seller Notes. The Ripka Seller Notes balance, net of discount, at December 31, 2015 and 2014 was $469,000 and $4,398,000, respectively.

Contingent Obligations

IM Earn-Out Obligation

IM Ready was eligible to earn additional shares of Common Stock with a value of up to $7.5 million (the “IM Earn-Out Value”) for the 12-month period ended September 30, 2015, with such earn-out payment contingent upon the Isaac Mizrahi Business achieving the net royalty income target set forth below (the “IM Earn-Out Obligation”). On December 24, 2013, the Company and IM Ready amended the terms of the IM Earn-Out Obligation and eliminated the additional consideration for the fiscal year ended December 31, 2014 and the Company made a one-time cash payment of $315,000 to IM Ready in March 2014.

During the Current Year, the Company recorded a $3.0 million gain on the reduction of contingent obligations in the accompanying consolidated statements of operations. Prior to the Current Year’s reduction, the IM Earn-Out Obligation was based on the $7.5 million Earn-Out Value multiplied by 40%, the applicable percentage. The applicable percentage was based on an estimated royalty target range. The reduction in the IM Earn-Out Obligation was based primarily on a revision of projected future net royalty income related to the Isaac Mizrahi Brand during the earn-out period ending September 30, 2015. The IM Earn-Out Obligation was reduced as a result of the timing of projected future net royalty income of the Isaac Mizrahi Business, which diminished the probability of achieving the remaining royalty target. This adjustment resulted from the Company having better visibility as to its 2015 royalties given current Isaac Mizrahi Brand product sales information. IM Ready did not meet the net royalty income target for the 12-month period ended September 30, 2015 and, accordingly, the IM Earn-Out Obligation expired and the Company did not issue additional shares of its Common Stock.

The IM Earn-Out Value was payable solely in stock. In accordance with ASC Topic 480, “Distinguishing Liabilities from Equity” (“ASC Topic 480”), the IM Earn-Out Obligation was treated as a liability in the accompanying condensed consolidated balance sheets because of the variable number of shares payable under the agreement.

The IM Earn-Out Obligation was recorded as the current portion of long-term debt in the amount of $3.0 million at December 31, 2014 in the accompanying consolidated balance sheets.

QVC Earn-Out

The Company was obligated to pay IM Ready $2.76 million, payable in cash or Common Stock, at the Company’s option, contingent upon IM Brands receiving aggregate net royalty income of at least $2.5 million from QVC in the twelve-month period ended September 30, 2015 with the number of shares of such stock based upon the greater of (x) $4.50 per share, and (y) the average stock price for the last twenty business days prior to the time of such issuance (the “QVC Earn-Out”). The $2.5 million in net royalty income from QVC for the twelve-month period ended September 30, 2015 was met and, therefore, the Company issued IM Ready 290,473 shares of Common Stock, valued at $2.51 million as of September 30, 2015 and made a $0.25 million payment in cash in February 2016.

The QVC Earn-Out of $0.25 million and $2.76 million is recorded as a current liability in the accompanying consolidated balance sheets as of December 31, 2015 and 2014, respectively, because of the variable number of shares payable under the agreement.

Ripka Earn-Out

In connection with the purchase of the Ripka Brand, 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 the Company’s 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 ending on October 1, 2016, 2017 and 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 of any license agreement. The Ripka Earn-Out of $3.78 million is recorded as long-term debt at December 31, 2015 in the accompanying consolidated balance sheets based on the difference between the fair value of the acquired assets of the Ripka Brand and the total consideration paid. In accordance with ASC Topic 480, the Ripka 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.

C Wonder Earn-Out

In connection with the purchase of the C Wonder Brand, the Company agreed to pay the Seller additional consideration (the “C Wonder Earn-Out”), which would be payable, if at all, in cash or shares of common stock of the Company, at the Company’s sole discretion, after June 30, 2019, with a value based on the royalties related directly to the assets the Company acquired pursuant to the Purchase Agreement. The value of the earn-out shall be calculated as the positive amount, if any, of (i) two times (A) the maximum net royalties as calculated for any single twelve month period commencing on July 1 and ending on June 30 between the closing date and June 30, 2019 (each, a “Royalty Target Year”) less (B) $4,000,000, plus (ii) two times the maximum royalty determined based on a percentage of retail and wholesale sales of C Wonder branded products by the Company as calculated for any single Royalty Target Year. The C Wonder Earn-Out of $2.85 million is recorded as long-term debt at December 31, 2015 in the accompanying consolidated balance sheets. This approach is based on the probability of the C Wonder Brand achieving certain net royalty income targets within the earn-out periods and then calculating the present value of the weighted average payment amount. In accordance with ASC Topic 480, the C Wonder 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.

As of December 31, 2015 and 2014, total contingent obligations were $6.9 million and $9.6 million, respectively.

Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

9. Stockholders’ Equity

Effective November 6, 2014, the Company amended its Certificate of Incorporation to increase the total number of authorized shares of capital stock which the Company shall have authority to issue from 26,000,000 shares, consisting of 25,000,000 shares of common stock and 1,000,000 shares of preferred stock, to 36,000,000 shares, consisting of 35,000,000 shares of common stock and 1,000,000 shares of preferred stock.

2014 Private Offering of Equity Securities

On December 22, 2014, in a private offering to accredited investors, the Company issued and sold an aggregate of 1,086,667 shares of its Common Stock at a purchase price of $9.00 per share, for aggregate gross proceeds of $9,780,000 (the “2014 Private Offering”). The Company paid Young America Capital LLC (“Young America”) a placement fee of $474,600 in connection with the 2014 Private Offering (see Note 14, Related Party Transactions). Net proceeds, after the payment of placement fees and legal and other expenses of $486,000, amounted to $9,294,000.

Public Equity Offering

On August 5, 2015, the Company consummated an underwritten public offering of 1,800,000 shares of its common stock at a price of $9.00 per share (the “Offering”) generating gross proceeds of $16,200,000, before underwriting discounts and commissions and other offering expenses of approximately $2,011,000. In addition, the Company granted the underwriter an option to purchase up to an additional 270,000 shares of common stock. The underwriter partially exercised its option to purchase 213,128 shares of common stock, generating gross proceeds of $1,918,000. The Company’s common stock began trading on the NASDAQ Global Market under the symbol “XELB” on July 31, 2015.

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 provide 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 8,000,000 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 is administered by the Board, or, at the Board’s discretion, a committee of the Board.

The fair value of options and warrants is estimated on the date of grant using the Black-Scholes option pricing model. The valuation determined by the Black-Scholes option pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The risk free rate is based on the U.S. Treasury rate for the expected life at the time of grant, volatility is based on the average long-term implied volatilities of peer companies, the expected life is based on the estimated average of the life of options and warrants using the simplified method, and forfeitures are estimated on the date of grant based on certain historical data. The Company utilizes the simplified method to determine the expected life of the options and warrants due to insufficient exercise activity during recent years as a basis from which to estimate future exercise patterns. The expected dividend assumption is based on the Company’s history and expectation of dividend payouts.

Forfeitures are required to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Stock Options

On January 1, 2014, the Company granted options to purchase an aggregate of 50,000 shares of Common Stock to a non-executive employee of the Company. The exercise price per share of the options is $5.00 per share, and 50% of the options will vest on each of the first and second anniversaries of the grant date. As of December 31, 2014, all of these options have been forfeited.

On May 15, 2014, the Company granted options to purchase an aggregate of 50,000 shares of Common Stock to a non-executive employee of the Company. The exercise price per share of the options is $7.50 per share, and 50% of the options will vest on each of May 15, 2015 and 2016.

On July 1, 2014, the Company granted options to purchase an aggregate of 35,000 shares of Common Stock to certain non-executive employees of the Company. The exercise price per share of the options is $7.50 per share, and 50% of the options will vest on each of June 30, 2015 and 2016.

On December 1, 2014, the Company granted options to purchase an aggregate of 10,000 shares of Common Stock to a non-executive employee of the Company. The exercise price per share of the options is $8.00 per share, and 50% of the options will vest on each of March 31, 2015 and 2016.

There were no options granted during 2015.

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

	Year Ended December 31,
	2015		2014
Expected Volatility		N/A		24-29	%
Expected Dividend Yield		N/A		0	%
Expected Life (Term)		N/A		2.5 years
Risk-Free Interest Rate		N/A		0.58 - 0.70	%

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.

A summary of the Company’s stock option activity for the Current Year is as follows:

					Weighted
					Average
			Weighted		Remaining
			Average		Contractual		Aggregate
	Number of		Exercise		Life		Intrinsic
	Options		Price		(in Years)		Value
Outstanding at January 1, 2015		404,000	$	6.67		2.89	$	1,472,000
Granted		-		-		-		-
Canceled		-		-		-		-
Exercised		(20,250)		(3.57)		-		-
Expired/Forfeited		(4,250)		(3.35)		-		-
Outstanding and expected to vest at December 31, 2015		379,500	$	5.50		1.71	$	1,174,000
Exercisable at December 31, 2015		332,000	$	5.18		1.46	$	1,126,000

Compensation expense related to stock option grants for the Current Year and Prior Year was $66,000 and $51,000, respectively. Total unrecognized compensation expense related to unvested stock options at December 31, 2015 amounts to $34,000 and is expected to be recognized over a weighted average period of 0.55 years.

The following table summarizes the Company’s stock option activity for non-vested options for the year ended December 31, 2015:

			Weighted
			Average
	Number of		Grant Date
	Options		Fair Value
Balance at January 1, 2015		95,000	$	1.43
Granted		-		-
Vested		(47,500)		(1.43)
Forfeited or Canceled		-		-
Balance at December 31, 2015		47,500	$	1.43

Warrants

Warrants granted by the Company expire at various times, either five, seven or ten years from the date of grant, depending on the particular grant.

As of December 31, 2015 and 2014, there were 2,219,543 warrants outstanding and exercisable, with a weighted average exercise price of $6.07 per share. The weighted average remaining contractual life of the warrants outstanding and exercisable at December 31, 2015 and 2014 was 3.23 and 4.23 years, respectively, and the aggregate intrinsic value was $3,168,000 and $6,497,000, respectively.

The Company did not grant any warrants to purchase shares of Common Stock during the Current Year or Prior Year.

No compensation expense was recorded in the Current Year or Prior Year related to warrants.

Restricted Stock

A summary of the Company’s restricted stock activity for the Current Year is as follows:

			Weighted
	Number of		Average
	Restricted		Grant Date
	Shares		Fair value
Outstanding at January 1, 2015		3,208,410	$	4.46
Granted		595,692		8.99
Canceled		-		-
Vested		(265,430)		8.05
Expired/Forfeited		(8,187)		6.85
Outstanding and expected to vest at December 31, 2015		3,530,485	$	4.95

On January 1, 2014, the Company issued to a member of management and a key employee an aggregate of 825,000 shares of restricted stock. The vesting date for 550,000 shares of restricted stock was 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. As of December 31, 2014, restrictions on 2,500 shares have lapsed and 89,500 shares, 550,000 shares, 92,000 shares and 91,000 shares are scheduled to vest on March 31, 2015, July 1, 2015, September 30, 2015 and September 30, 2016, respectively. The Company repurchased 1,250 shares of restricted stock upon vesting to satisfy the grantee’s tax withholding obligations.

On April 1, 2014, the Company issued to non-management directors 50,000 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on March 31, 2015 and 50% shall vest on March 31, 2016. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock 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 stock prior to such date.

On May 15, 2014, the Company issued to certain executives and employees 557,475 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on May 31, 2015 and 50% shall vest on May 31, 2016. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock 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 stock prior to such date.

On July 15, 2014, the Company issued to one of its directors 25,000 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on March 31, 2015 and 50% shall vest on March 31, 2016. Notwithstanding the foregoing, the grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock 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 stock prior to such date.

On October 1, 2014, the Company issued to a non-executive employee 15,000 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on March 31, 2015 and 50% shall vest on March 31, 2016. Notwithstanding the foregoing, the grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock 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 stock prior to such date.

On January 1, 2015, the Company issued to a non-executive employee 25,000 shares of restricted stock. The shares of restricted stock vest evenly over two years, whereby 50% shall vest on January 1, 2016 and 50% shall vest on January 1, 2017. Notwithstanding the foregoing, the grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock until the next following July 1st or January 1st, 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 stock prior to such date.

On January 6, 2015, the Company issued non-executive employees 18,167 shares of fully vested common stock.

On April 1, 2015, the Company issued to non-management directors 50,000 shares of restricted stock. The shares of restricted stock will vest evenly over two years, whereby 50% shall vest on March 31, 2016 and 50% shall vest on March 31, 2017. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock 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 stock prior to such date.

On May 19, 2015, the Company issued certain executive officers and employees 417,500 shares of restricted stock. The shares of restricted stock vest evenly over two years, whereby 50% vest on April 30, 2016 and 50% vest on April 30, 2017. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock until the next following April 30th or October 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 stock prior to such date.

On June 3, 2015, the Company issued a non-management director 75,000 shares of restricted stock. The shares of restricted stock will vest evenly over three years, whereby 33.33% shall vest on each of May 31, 2016, 2017 and 2018, respectively. Notwithstanding the foregoing, the grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock until the next following November 30th or May 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 stock prior to such date.

On July 1, 2015, the Company issued employees 8,000 shares of restricted stock. The shares of restricted stock vest evenly over two years, whereby 50% vest on April 30, 2016 and 50% vest on April 30, 2017. Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock until the next following April 30th or October 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 stock prior to such date.

On November 30, 2015, the Company issued an employee 2,025 shares of fully vested common stock.

Compensation expense related to restricted stock grants for the Current Year and Prior Year was $4,574,000 and $5,100,000, respectively. Total unrecognized compensation expense related to unvested restricted stock grants at December 31, 2015 amounts to $4,511,000 and is expected to be recognized over a weighted average period of 1.25 years.

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

					Number of
					Shares
					Purchased as
	Total				Part of
	Number		Actual		Publically		Fair value of
	of Shares		Price Paid		Announced		Re-Purchased
Date	Purchased		per Share		Plan		Shares
March 28, 2014 (i)		15,750	$	4.00		-	$	63,000
September 30, 2014 (i)		26,250		7.83		-		205,000
December 1, 2014 (i)		88,725		8.00		-		710,000
Total 2014		130,725	$	7.49		-	$	978,000

September 30, 2015 (i)		82,825	$	8.59		-	$	711,000
December 17, 2015 (ii)		5,000		7.25		-		36,000
Total 2015		87,825	$	8.51		-	$	747,000

All of the shares of restricted stock in the preceding table were originally granted to employees and directors as restricted stock pursuant to the Plan.

(i)	The shares repurchased were acquired from employees and directors in connection with the settlement of income tax withholding obligations on behalf of such employees and directors from the vesting of restricted stock.
(ii)	See Note 14, Related Party Party Transactions.

Shares Available Under the Company’s 2011 Equity Incentive Plan

At December 31, 2015, there were 3,192,828 shares of Common Stock available for issuance under the Plan.

Shares Reserved for Issuance

At December 31, 2015, there were 5,791,871 shares of Common Stock reserved for issuance pursuant to unexercised warrants and stock options, or available for issuance under the Plan.

Dividends

The Company has not paid any dividends to date.

Earnings Per Share [Text Block]

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SAB TOPIC 4.C)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
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-Section C

+ Details

Earnings Per Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

10. Earnings Per Share

Shares used in calculating basic and diluted net income (loss) per share are as follows:

	Year Ended December 31,
	2015		2014
Basic		16,151,163		11,698,880
Effect of exercise of warrants		946,902		971,873
Effect of exercise of stock options		125,175		145,921
Diluted		17,223,240		12,816,674

The computation of basic and diluted EPS excludes the Common Stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	Year Ended December 31,
	2015		2014
Stock options and warrants		750,000		20,548

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

11. Commitments and Contingencies

Leases

The Company leases office space under an operating lease agreement related to the Company’s main headquarters located in New York City, which lease expires in 2022.

Additionally, on July 8, 2015, the Company entered into a Sublease Agreement (the “Sublease”) with GBG USA Inc., a Delaware corporation (the “Sublandlord”), pursuant to which the Company has subleased approximately 29,600 rentable square feet of office space (the “Premises”). The term of the Sublease commences on March 1, 2016 and expires on October 30, 2027. The Company shall pay to the Sublandlord fixed rent of $117,032 per month (which fixed rent shall increase upon the five year anniversary of the commencement of the Sublease) for the Premises, with the first monthly installment paid upon the signing of the Sublease, together with certain amounts of additional rent.

In connection with the Sublease, the Company obtained an Irrevocable Standby Letter of Credit (the “Letter of Credit”) from BHI in favor of Sublandlord, for a sum not exceeding $1,108,725. The Company has deposited this amount with BHI as collateral for the Letter of Credit and recorded the amount as restricted cash in the December 31, 2015 consolidated balance sheet.

Future minimum lease payments under the terms of the Company’s noncancelable operating lease agreements are as follows:

	Lease
Year Ending December 31,	Payments
2016	$	967,000
2017		1,605,000
2018		2,311,000
2019		2,393,000
2020		2,423,000
Thereafter		11,811,000
Total future noncancelable minimum lease payments	$	21,510,000

The lease for the Company’s corporate headquarters requires the Company to pay additional rents by way of increases in the base taxes and other costs on the property. Total rent expense was $919,000 and $753,000 for the years ended December 31, 2015 and 2014, respectively.

Employment Agreements

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

	Employment
	Contract
Year Ending December 31,	Payments
2016	$	4,425,000
2017		1,751,000
Thereafter		2,810,000
Total future minimum employment contract payments	$	8,986,000

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.

Certain of the employment agreements contain severance and/or change in control provisions. Aggregate potential severance compensation amounted to approximately $12.4 million at December 31, 2015.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

12. 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,
	2015		2014
Current:
Federal	$	637,000	$	1,108,000
State and local		219,000		333,000
Total current		856,000		1,441,000

Deferred:
Federal		(611,000)		(1,343,000)
State and local		(89,000)		(195,000)
Total deferred		(700,000)		(1,538,000)
Total provision (benefit)	$	156,000	$	(97,000)

The reconciliation of income tax computed at the Federal and state and local statutory rates to the Company’s income (loss) before taxes is as follows:

	Year Ended December 31,
	2015			2014
U.S. statutory Federal rate		34.00	%		(34.00)	%
State and local rate, net of Federal tax		1.92			81.71
Gain on reduction of contingent obligation		(33.98)			(385.97)
Excess compensation deduction		0.00			100.46
Foreign tax credits		0.58			(99.26)
Life insurance		2.10			101.67
Other permanent differences		0.61			51.87
Income tax provision (benefit)		5.23	%		(183.52)	%

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

	December 31,
	2015		2014
Deferred tax assets
Property and equipment	$	341,000	$	204,000
Stock-based compensation		6,146,000		4,625,000
Accrued compensation and other accrued expenses		708,000		548,000
Basis difference arising from discounted note payable		546,000		-
Other		25,000		85,000
Total deferred tax assets	$	7,766,000	$	5,462,000

Deferred tax liabilities
Basis difference arising from discounted note payable	$	-	$	(648,000)
Basis difference arising from intangible assets of acquisition		(14,515,000)		(12,263,000)
Total deferred tax liabilities		(14,515,000)		(12,911,000)
Net deferred tax liabilities	$	(6,749,000)	$	(7,449,000)

At December 31, 2015 and 2014 the Company has no U.S. Federal and state and local net operating loss carryforwards that may be applied against future taxable income.

During the Current Year and Prior Year, the Company recorded a $3.0 million and a $0.6 million gain, respectively, 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 8).

As of December 31, 2015 and 2014, 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.

Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

13. Discontinued Operations

Discontinued operations as of December 31, 2015 and 2014 represent the net sales and expenses related to the Company’s retail operations. The Company will continue to operate e-commerce, which was previously reported as a component of retail operations, as a component of our licensing business.

A summary of the Company’s results of discontinued operations of its retail business for the Current Year and Prior Year and the Company’s assets and liabilities from discontinued operations of its retail business as of December 31, 2015 and 2014 is as follows:

Results of discontinued operations:

	Year Ended December 31,
	2015		2014
Net sales	$	287,000	$	560,000
Cost of sales		(221,000)		(470,000)
Operating expenses		(268,000)		(1,046,000)
Depreciation and amortization		-		(85,000)
Loss from disposal of discontinued operations		(273,000)		(739,000)
Income tax benefit		203,000		704,000
Loss from discontinued operations, net	$	(272,000)	$	(1,076,000)

Loss per share from discontinued operations, net:
Basic	$	(0.02)	$	(0.09)
Diluted	$	(0.02)	$	(0.08)

Weighted average shares outstanding:
Basic		16,151,163		11,698,880
Diluted		17,223,240		12,816,674

Assets and liabilities of discontinued operations:

	December 31,
	2015		2014
Inventory	$	-	$	214,000
Prepaid expenses and other current assets		8,000		63,000
Deferred tax asset		-		226,000
Total current assets	$	8,000	$	503,000
Property and equipment, net	$	-	$	112,000
Other long-term assets		-		11,000
Total long-term assets	$	-	$	123,000
Accounts payable and accrued expenses	$	60,000	$	157,000
Other current liabilities		-		61,000
Total liabilities	$	60,000	$	218,000

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Related Party Transactions

12 Months Ended

Dec. 31, 2015

14. 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 to 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 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 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.

The Company incurred direct licensing costs with Mr. Slater from amortization of the one-time payment stated above for the Current Year and the Prior Year of $32,000 and $85,000, respectively.

On December 22, 2014, the Company entered into an agreement with Young America, pursuant to which the Company agreed to pay Young America a cash payment of 7% of the gross proceeds from a private offering of the Company’s equity securities, except with respect to $3,000,000 of common stock sold in the 2014 Private Offering. The Company paid Young America a placement fee of $474,600 in connection with the 2014 Private Offering. Todd Slater is a director of the Company and a registered representative and independent contractor to Young America, and he received $439,005 of the consideration paid to Young America.

Licensing Agent Agreement

On August 2, 2011, the Company entered into a licensing agent agreement with Adam Dweck (“AD”), son of Jack Dweck, a former director of the Company, pursuant to which he is entitled to a five percent commission on any royalties the Company receives under any new license agreements that he procures for the Company for the initial term of such license agreements. AD earned $14,000 and $25,000 in fees for the Current Year and Prior Year, respectively.

The Company issued 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. Additionally, AD shall be entitled to receive warrants to purchase 25,000 shares of Common Stock priced at an exercise price per share equal to the fair market value at the time of issuance, subject to AD generating $2.0 million of accumulated royalties. These warrants all expire on August 2, 2016. AD reached the first milestone of $0.5 million sourced royalties, as well as the second milestone of $1.0 million of sourced royalties as of December 31, 2014. Accordingly, the Company issued warrants to AD to purchase 25,000 shares of Common Stock, of which 12,500 vested in 2013 and 12,500 vested in 2014. The fair value of these warrants was estimated at $2,500 on the grant date using the Black-Scholes option pricing model, of which $1,000 has been recorded as a royalty commission expense in the Prior Year. The expense was recorded as a reduction of net licensing revenues in the consolidated statements of operations.

Jones Texas, Inc.

On May 14, 2015, and amended on June 24, 2015, the Company entered into a consulting agreement with Jones Texas, Inc., ("JT Inc.") whose controlling shareholder is Edward Jones, a Director of the Company. The agreement provides for fees payable to JT Inc. up to $75,000, which was paid during the Current Year. The consulting services were related to due diligence on the C Wonder brand prior to the acquisition.

Benjamin Malka

Concurrent with the acquisition of the H Halston Brand on December 22, 2014, we entered into a license agreement with HIP. Benjamin Malka, a director of the Company, is a 25% equity holder of HIP’s parent company, HOH and Chief executive Officer of HOH. The HIP license agreement provides for royalty payments including guaranteed minimum royalties to be paid to the Company during the initial term that expires on December 31, 2019.

On September 1, 2015 we entered into a license agreement with Lord and Taylor, LLC (the “L&T License”) and simultaneously amended the H Halston License Agreement eliminating HIP’s minimum guaranteed royalty obligations, provided the L&T License is in effect. In addition, we entered into a sublicense agreement with HIP obligating us to pay HIP a royalty participation fee on an annual basis the greater of (i) 50% of royalties received under the L&T License or (ii) guaranteed minimum royalties. Guaranteed minimum royalties are equal to $0.25 million for the seventeen months ending January 31, 2017, and $0.75 million, $0.75 million, $1.5 million and $1.75 million for the twelve months ending January 31, 2018, 2019, 2020, and 2021, respectively.

The Company incurred a $59,000 royalty participation fee with HIP for the Current Year.

Marisa Gardini

In accordance with the terms and conditions of the C Wonder Purchase Agreement, the Company paid Marisa Gardini, a former Director of the Company, a $240,000 commission fee for the acquisition of the C Wonder Brand. The amount of the payment was considered a direct acquisition cost of the C Wonder Brand and accordingly has been included as a component of the purchase price.

James Haran

On December 16, 2015, the Company purchased 5,000 shares of its Common Stock from James Haran at $7.25 per share, the closing sale price of the Company’s Common Stock on that day. The Company determined that it was in the best interests of the Company to purchase these shares of common stock from Mr. Haran in lieu of his selling the shares in the open market.

Subsequent Events [Text Block]

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, 2015

Subsequent Events [Abstract]

15. Subsequent Events

On February 26, 2016, the Company amended the terms of certain debt obligations by entering into an Amended and Restated Loan and Security Agreement with the Company’s senior lender, Bank Hapoalim B.M. As a result of this refinancing, the current and non-current portions of long-term debt have been adjusted accordingly in the December 31, 2015 consolidated balance sheet. Refer to Note 8, Debt for additional information.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Discontinued Operations, Policy [Policy Text Block]

Discontinued Operations

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.

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

The Company performed its annual qualitative analysis of goodwill and performed a qualitative analysis of intangible assets at December 31, 2015, and determined that these assets were not impaired.

The Company’s definite lived intangible assets are amortized over their estimated useful lives of four (4) to fifteen (15) years.

Deferred Finance Costs [Policy Text Block]

Deferred Finance Costs

Contingent Obligation, Policy [Policy Text Block]

Contingent Obligations

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Advertising Costs, Policy [Policy Text Block]

Advertising Costs

Lease, Policy [Policy Text Block]

Operating Leases

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

Stock-Based Compensation

Income Tax, Policy [Policy Text Block]

Income Taxes

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

Fair Value of Financial Instruments

Fair Value Measurement, Policy [Policy Text Block]

Fair Value

The following table reflects the change in fair value of the Company’s earn-out obligation associated with the Isaac Mizrahi Brand for the years ended December 31, 2015 and 2014:

	December 31,
	2015		2014
Balance at beginning of year	$	5,766,000	$	6,366,000
Gain on reduction of contingent obligation		(3,000,000)		(600,000)
Payment of contingent obligation		(2,516,000)		-
Balance at end of year	$	250,000	$	5,766,000

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

Concentrations of Credit Risk

Earnings Per Share, Policy [Policy Text Block]

Earnings Per Share

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The following table reflects the change in fair value of the Company’s earn-out obligation associated with the Isaac Mizrahi Brand for the years ended December 31, 2015 and 2014:

	December 31,
	2015		2014
Balance at beginning of year	$	5,766,000	$	6,366,000
Gain on reduction of contingent obligation		(3,000,000)		(600,000)
Payment of contingent obligation		(2,516,000)		-
Balance at end of year	$	250,000	$	5,766,000

Acquisition of C Wonder Trademarks (Tables) - C Wonder Trademarks [Member]

12 Months Ended

Dec. 31, 2015

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Allocated to:
Trademarks	$	15,437,000
Total acquisition price	$	15,437,000

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

The following represents the aggregate purchase price of $15.4 million, including legal and other fees of $0.59 million:

Cash paid	$	3,000,000
Fair value of Common Stock issued (1,000,000 shares)		9,000,000
C Wonder Earn-Out obligation (at fair value, see Note 8)		2,850,000
Direct transaction expenses		587,000
Total consideration	$	15,437,000

Acquisition of H Halston Trademarks (Tables) - H Halston Trademarks [Member]

12 Months Ended

Dec. 31, 2015

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Allocated to:
Trademarks	$	27,562,000
Non-compete agreement		562,000
Total acquisition price	$	28,124,000

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

The following represents the aggregate purchase price of $28.1 million, including legal and other fees of $0.49 million:

Cash paid	$	18,023,000
Fair value of Common Stock issued (1,000,000 shares)		9,000,000
Fair value of warrants to purchase 750,000 shares of Common Stock (see Note 9)		611,000
Direct transaction expenses		490,000
Total consideration	$	28,124,000

Acquisition of Judith Ripka Trademarks (Tables) - Judith Ripka Trademarks [Member]

12 Months Ended

Dec. 31, 2015

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Allocated to:
Trademarks	$	24,600,000
Copyrights and other intellectual property		190,000
Total acquisition price	$	24,790,000

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

The following represents the aggregate purchase price of $24.8 million, including legal and other fees of $0.39 million:

Cash paid	$	11,975,000
Installment payment due February 23, 2015		1,000,000
Installment payment due April 1, 2015		1,190,000
Ripka Seller Notes (at fair value, see Note 8)		4,165,000
Fair value of Common Stock issued (571,429 shares)		2,286,000
Ripka Earn-Out obligation (at fair value, see Note 8)		3,784,000
Direct transaction expenses		390,000
Total consideration	$	24,790,000

Trademarks, Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015		2014
Trademarks	$	112,113,000	$	96,662,000
Licensing agreements		2,000,000		2,000,000
Non-compete agreement		562,000		562,000
Copyrights and other intellectual property		190,000		190,000
Accumulated amortization, trademarks, licensing and non-compete agreements		(2,542,000)		(1,735,000)
Net carrying amount	$	112,323,000	$	97,679,000

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

The following table presents amortization expense over the remaining useful lives of the definite lived intangible assets:

	Amortization
Year Ending December 31,	Expense
2016	$	1,128,000
2017		1,128,000
2018		1,128,000
2019		1,128,000
2020		1,128,000
Thereafter		10,007,000
Total	$	15,647,000

Significant Contracts (Tables)

12 Months Ended

Dec. 31, 2015

Significant Contracts [Abstract]

Schedule Of License Agreements [Table Text Block]

The Agreements include automatic renewal periods as detailed below unless terminated by either party.

	Current Term	Automatic	Xcel Commenced
Agreement	Expiry	Renewal	Brand with QVC	QVC Product Launch
IM QVC Agreement	September 30, 2020	one year period	September 2011	2010
Ripka QVC Agreement	March 31, 2019	one year period	April 2014	1999
H QVC Agreement	December 31, 2019	three year period	January 2015	September 2015
C Wonder QVC Agreement	January 1, 2021	three year period	August 2015	March 2016

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

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 the Company’s noncancelable operating lease agreements are as follows:

	Lease
Year Ending December 31,	Payments
2016	$	967,000
2017		1,605,000
2018		2,311,000
2019		2,393,000
2020		2,423,000
Thereafter		11,811,000
Total future noncancelable minimum lease payments	$	21,510,000

Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]

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

	Employment
	Contract
Year Ending December 31,	Payments
2016	$	4,425,000
2017		1,751,000
Thereafter		2,810,000
Total future minimum employment contract payments	$	8,986,000

Income taxes (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015		2014
Current:
Federal	$	637,000	$	1,108,000
State and local		219,000		333,000
Total current		856,000		1,441,000

Deferred:
Federal		(611,000)		(1,343,000)
State and local		(89,000)		(195,000)
Total deferred		(700,000)		(1,538,000)
Total provision (benefit)	$	156,000	$	(97,000)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reconciliation of income tax computed at the Federal and state and local statutory rates to the Company’s income (loss) before taxes is as follows:

	Year Ended December 31,
	2015			2014
U.S. statutory Federal rate		34.00	%		(34.00)	%
State and local rate, net of Federal tax		1.92			81.71
Gain on reduction of contingent obligation		(33.98)			(385.97)
Excess compensation deduction		0.00			100.46
Foreign tax credits		0.58			(99.26)
Life insurance		2.10			101.67
Other permanent differences		0.61			51.87
Income tax provision (benefit)		5.23	%		(183.52)	%

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,
	2015		2014
Deferred tax assets
Property and equipment	$	341,000	$	204,000
Stock-based compensation		6,146,000		4,625,000
Accrued compensation and other accrued expenses		708,000		548,000
Basis difference arising from discounted note payable		546,000		-
Other		25,000		85,000
Total deferred tax assets	$	7,766,000	$	5,462,000

Deferred tax liabilities
Basis difference arising from discounted note payable	$	-	$	(648,000)
Basis difference arising from intangible assets of acquisition		(14,515,000)		(12,263,000)
Total deferred tax liabilities		(14,515,000)		(12,911,000)
Net deferred tax liabilities	$	(6,749,000)	$	(7,449,000)

Debt (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Debt [Table Text Block]

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

	December 31,
	2015		2014
IM Term Loan (i)	$	11,375,000	$	12,750,000
JR Term Loan (i)		7,875,000		9,000,000
H Term Loan (i)		10,000,000		10,000,000
Net unamortized deferred finance costs related to term loans (ii)		(493,000)		(624,000)
IM Seller Note		4,918,000		5,366,000
Ripka Seller Notes		469,000		4,398,000
Contingent obligation - IM Seller		250,000		5,766,000
Contingent obligation - JR Seller		3,784,000		3,784,000
Contingent obligation - CW Seller		2,850,000		-
Total		41,028,000		50,440,000
Current portion (iii), (iv)		9,168,000		11,416,000
Long-term debt	$	31,860,000	$	39,024,000

(i)

Term loans outstanding as of December 31, 2015 were refinanced in February 2016, as described below.

(ii)

See Note 2, Summary of Significant Accounting Policies, Recent Accounting Pronouncements.

(iii)

$4.918 million of the current portion of long-term debt as of December 31, 2015 consists of the IM Seller Note, described below, which is payable in common stock or cash, at the Company’s option.

(iv)

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

	Amount of
	Principal
Year Ending December 31,	Payment
2016(i)	$	2,625,000
2017		4,000,000
2018		4,000,000
2019		4,000,000
2020		4,000,000
2021		9,250,000
Total	$	27,875,000

(i)

Does not include $1.375 million in principal payments made on January 1, 2016.

Debt Instrument Principal Payments [Table Text Block]

The remaining scheduled principal payments (including amortization of imputed interest) are as follows:

	Payment
Payment Date	Amount
January 31, 2016 (i)	$	750,000
September 30, 2016 (ii)	$	4,377,000

(i)	Paid in cash in January 2016.

(ii)	Payable in stock or cash at the Company’s sole discretion. Amounts paid in cash require BHI’s approval.

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

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 [Table Text Block]

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

	Year Ended December 31,
	2015		2014
Expected Volatility		N/A		24-29	%
Expected Dividend Yield		N/A		0	%
Expected Life (Term)		N/A		2.5 years
Risk-Free Interest Rate		N/A		0.58 - 0.70	%

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

A summary of the Company’s stock option activity for the Current Year is as follows:

					Weighted
					Average
			Weighted		Remaining
			Average		Contractual		Aggregate
	Number of		Exercise		Life		Intrinsic
	Options		Price		(in Years)		Value
Outstanding at January 1, 2015		404,000	$	6.67		2.89	$	1,472,000
Granted		-		-		-		-
Canceled		-		-		-		-
Exercised		(20,250)		(3.57)		-		-
Expired/Forfeited		(4,250)		(3.35)		-		-
Outstanding and expected to vest at December 31, 2015		379,500	$	5.50		1.71	$	1,174,000
Exercisable at December 31, 2015		332,000	$	5.18		1.46	$	1,126,000

Share-based Compensation, Performance Shares Award Unvested Activity [Table Text Block]

The following table summarizes the Company’s stock option activity for non-vested options for the year ended December 31, 2015:

			Weighted
			Average
	Number of		Grant Date
	Options		Fair Value
Balance at January 1, 2015		95,000	$	1.43
Granted		-		-
Vested		(47,500)		(1.43)
Forfeited or Canceled		-		-
Balance at December 31, 2015		47,500	$	1.43

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

A summary of the Company’s restricted stock activity for the Current Year is as follows:

			Weighted
	Number of		Average
	Restricted		Grant Date
	Shares		Fair value
Outstanding at January 1, 2015		3,208,410	$	4.46
Granted		595,692		8.99
Canceled		-		-
Vested		(265,430)		8.05
Expired/Forfeited		(8,187)		6.85
Outstanding and expected to vest at December 31, 2015		3,530,485	$	4.95

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.

					Number of
					Shares
					Purchased as
	Total				Part of
	Number		Actual		Publically		Fair value of
	of Shares		Price Paid		Announced		Re-Purchased
Date	Purchased		per Share		Plan		Shares
March 28, 2014 (i)		15,750	$	4.00		-	$	63,000
September 30, 2014 (i)		26,250		7.83		-		205,000
December 1, 2014 (i)		88,725		8.00		-		710,000
Total 2014		130,725	$	7.49		-	$	978,000

September 30, 2015 (i)		82,825	$	8.59		-	$	711,000
December 17, 2015 (ii)		5,000		7.25		-		36,000
Total 2015		87,825	$	8.51		-	$	747,000

All of the shares of restricted stock in the preceding table were originally granted to employees and directors as restricted stock pursuant to the Plan.

(i)	The shares repurchased were acquired from employees and directors in connection with the settlement of income tax withholding obligations on behalf of such employees and directors from the vesting of restricted stock.
(ii)	See Note 14, Related Party Party Transactions.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

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

Shares used in calculating basic and diluted net income (loss) per share are as follows:

	Year Ended December 31,
	2015		2014
Basic		16,151,163		11,698,880
Effect of exercise of warrants		946,902		971,873
Effect of exercise of stock options		125,175		145,921
Diluted		17,223,240		12,816,674

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The computation of basic and diluted EPS excludes the Common Stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	Year Ended December 31,
	2015		2014
Stock options and warrants		750,000		20,548

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Results of discontinued operations:

	Year Ended December 31,
	2015		2014
Net sales	$	287,000	$	560,000
Cost of sales		(221,000)		(470,000)
Operating expenses		(268,000)		(1,046,000)
Depreciation and amortization		-		(85,000)
Loss from disposal of discontinued operations		(273,000)		(739,000)
Income tax benefit		203,000		704,000
Loss from discontinued operations, net	$	(272,000)	$	(1,076,000)

Loss per share from discontinued operations, net:
Basic	$	(0.02)	$	(0.09)
Diluted	$	(0.02)	$	(0.08)

Weighted average shares outstanding:
Basic		16,151,163		11,698,880
Diluted		17,223,240		12,816,674

Assets and liabilities of discontinued operations:

	December 31,
	2015		2014
Inventory	$	-	$	214,000
Prepaid expenses and other current assets		8,000		63,000
Deferred tax asset		-		226,000
Total current assets	$	8,000	$	503,000
Property and equipment, net	$	-	$	112,000
Other long-term assets		-		11,000
Total long-term assets	$	-	$	123,000
Accounts payable and accrued expenses	$	60,000	$	157,000
Other current liabilities		-		61,000
Total liabilities	$	60,000	$	218,000

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at beginning of year	$ 5,766,000	$ 6,366,000
Gain on reduction of contingent obligation	3,000,000	600,000
Payment of contingent obligation	(2,516,000)	0
Balance at end of year	$ 250,000	$ 5,766,000

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary Of Significant Accounting Policies [Line Items]
Accounts receivable, net	$ 7,594,000	$ 3,641,000
Allowance for Doubtful Accounts Receivable	20,000	41,000
Gain Loss On Reduction of Contingent Obligations	3,000,000	600,000
Accrued Fees and Other Revenue Receivable	1,531,000	110,000
Obligations, Fair Value Disclosure	$ 250,000	5,766,000	$ 6,366,000
Deferred Finance Costs, Noncurrent, Net, Total		624,000
Deferred Tax Assets, Net, Current		$ 633,000
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Estimated Useful Lives (in years)	3 years
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 years
Finite-Lived Intangible Asset, Useful Life	15 years

Acquisition of C Wonder Trademarks (Details) - C Wonder Trademarks [Member]	12 Months Ended
	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Total acquisition price	$ 15,437,000
Trademarks [Member]
Business Acquisition [Line Items]
Total acquisition price	$ 15,437,000

Acquisition of C Wonder Trademarks (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition, Contingent Consideration [Line Items]
Fair value of Common Stock issued (1,000,000 shares)	$ 9,000,000	$ 11,286,000
C Wonder Trademarks [Member]
Business Acquisition, Contingent Consideration [Line Items]
Cash paid	3,000,000
Fair value of Common Stock issued (1,000,000 shares)	9,000,000
C Wonder Earn-Out obligation (at fair value, see Note 8)	2,850,000
Direct transaction expenses	587,000
Total consideration	$ 15,437,000

Acquisition of C Wonder Trademarks (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets, Accumulated Amortization	$ 2,542,000	$ 1,735,000
C Wonder Trademarks [Member]
Sale of Stock, Consideration Received on Transaction	4,000,000
Business Combination, Consideration Transferred, Total	15,437,000
Direct transaction expenses	$ 587,000
Stock Issued During Period, Shares, Acquisitions	1,000,000
Trademarks [Member] \| C Wonder Trademarks [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Finite-Lived Intangible Assets, Accumulated Amortization	$ 429,000
Business Combination, Consideration Transferred, Total	$ 15,437,000
Closing Consideration [Member] \| C Wonder Trademarks [Member]
Stock Issued During Period, Shares, Acquisitions	500,000
Payments to Acquire Businesses, Gross	$ 2,500,000
Escrow Consideration [Member] \| C Wonder Trademarks [Member]
Stock Issued During Period, Shares, Acquisitions	500,000
Payments to Acquire Businesses, Gross	$ 500,000

Acquisition of H Halston Trademarks (Details) - H Halston brands [Member]	12 Months Ended
	Dec. 31, 2015 USD ($)
Total acquisition price	$ 28,124,000
Non-compete agreement [Member]
Total acquisition price	562,000
Trademarks [Member]
Total acquisition price	$ 27,562,000

Acquisition of H Halston Trademarks (Details 1)	12 Months Ended
Acquisition of H Halston Trademarks (Details 1)	Dec. 31, 2015 USD ($)
H Halston Trademark [Member]
Cash paid	$ 18,023,000
Direct transaction expenses	490,000
Total acquisition price	28,124,000
Common Stock [Member] \| H Halston Trademarks [Member]
Fair value	9,000,000
Warrant [Member] \| H Halston Trademarks [Member]
Fair value	$ 611,000

Acquisition of H Halston Trademarks (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Sep. 01, 2015
H Halston Trademark [Member]
Payments to Acquire Intangible Assets	$ 18,023,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 12.00
Assets Acquisition Purchase Price Allocation	$ 28,124,000
Assets Acquisition Direct Transaction Expenses	$ 490,000
Equity Method Investment, Ownership Percentage	24.00%
H Term Loan [Member]
Debt Instrument, Term	5 years
H Term Loan [Member] \| H Halston Trademark [Member]
Secured Debt	$ 10,000,000
Licensing Agreements [Member]
Operating Leases, Future Minimum Payments Receivable, in Two Years		$ 250,000
Operating Leases, Future Minimum Payments Receivable, in Three Years		750,000
Operating Leases, Future Minimum Payments Receivable, in Four Years		750,000
Operating Leases, Future Minimum Payments Receivable, in Five Years		$ 1,500,000
Licensing Agreements [Member] \| H Halston Trademark [Member]
Operating Leases, Future Minimum Payments Receivable, Current	600,000
Operating Leases, Future Minimum Payments Receivable, in Two Years	600,000
Operating Leases, Future Minimum Payments Receivable, in Three Years	600,000
Operating Leases, Future Minimum Payments Receivable, in Four Years	600,000
Operating Leases, Future Minimum Payments Receivable, in Five Years	600,000
Operating Leases Future Minimum Payments Receivable In Six Years	600,000
Operating Leases Future Minimum Payments Receivable In Seven Years	600,000
Operating Leases Future Minimum Payments Receivable In Eight Years	600,000
Operating Leases Future Minimum Payments Receivable In Nine Years	600,000
Operating Leases Future Minimum Payments Receivable In Nine Years After	$ 1,200,000
Description of Lessor Leasing Arrangements, Operating Leases	In the event HIP exercises the early termination right, H Licensing shall pay HIP a participation fee for each of the three following years in an amount not to exceed $4,000,000 ($5,000,000 if H Licensing distributes, or otherwise enters into any agreements for the distribution of products bearing the H Halston trademark in China).
Lease Expiration Date	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased	$ 8.00
Noncompete Agreements [Member] \| H Halston Trademark [Member]
Assets Acquisition Purchase Price Allocation	$ 562,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
Common Stock [Member] \| H Halston Trademark [Member]
Stock Issued During Period, Shares, Purchase of Assets	1,000,000
Warrant [Member] \| H Halston Trademark [Member]
Stock Issued During Period, Shares, Purchase of Assets	750,000

Acquisition of Judith Ripka Trademarks (Details) - Judith Ripka Trademarks [Member]	12 Months Ended
	Dec. 31, 2015 USD ($)
Assets Acquisition [Line Items]
Total acquisition price	$ 24,790,000
Copyrights and Other Intellectual Property [Member]
Assets Acquisition [Line Items]
Total acquisition price	190,000
Trademarks [Member]
Assets Acquisition [Line Items]
Total acquisition price	$ 24,600,000

Acquisition of Judith Ripka Trademarks (Details 1) - Judith Ripka Trademarks [Member]	12 Months Ended
	Dec. 31, 2015 USD ($)
Assets Acquisition [Line Items]
Cash paid	$ 11,975,000
Ripka Seller Notes (at fair value, see Note 8)	4,165,000
Fair value of Common Stock issued (571,429 shares)	2,286,000
Ripka Earn-Out obligation (at fair value, see Note 8)	3,784,000
Direct transaction expenses	390,000
Total consideration	24,790,000
Installment One [Member]
Assets Acquisition [Line Items]
Asset Acquisition Installment Payment	1,000,000
Installment Two [Member]
Assets Acquisition [Line Items]
Asset Acquisition Installment Payment	$ 1,190,000

Acquisition of Judith Ripka Trademarks (Details Textual) - USD ($)		1 Months Ended		12 Months Ended
	Apr. 03, 2014	Apr. 30, 2015	Oct. 01, 2014	Dec. 31, 2015	Dec. 31, 2014
Assets Acquisition [Line Items]
Payments to Acquire Productive Assets				$ 14,000	$ 18,513,000
Proceeds from Issuance of Long-term Debt, Total				0	9,000,000
Earn Out Payments				$ 2,850,000
Judith Ripka Trademarks [Member]
Assets Acquisition [Line Items]
Payments to Acquire Productive Assets	$ 12,000,000	$ 1,200,000
Stock Issued During Period, Shares, Purchase of Assets	571,429			571,429
Proceeds from Issuance of Long-term Debt, Total				$ 9,000,000
Royalty Revenue	$ 6,000,000
Assets Acquisition Purchase Price Allocation				24,800,000
Maximum Earn-Outs Payable				$ 5,000,000
Debt Instrument, Maturity Date, Description				five year term
Assets Acquisition Direct Transaction Expenses				$ 390,000
Exercise Price Of Common Stock				$ 0.001
Finite-Lived Intangible Asset, Useful Life				10 years
Judith Ripka Trademarks [Member] \| Chief Design Officer [Member]
Assets Acquisition [Line Items]
Base Salary	750,000
Non Accountable Expenses	114,000
Payments for Rent, Monthly	$ 1,000
Annual Cash Bonus Percentage				10.00%
Royalty Revenue				$ 6,000,000
Earn Out Payments				4,000	$ 16,000
Judith Ripka Trademarks [Member] \| Installment One [Member]
Assets Acquisition [Line Items]
Payments to Acquire Productive Assets			$ 1,000,000
Proceeds from Issuance of Long-term Debt, Total				900,000
Judith Ripka Trademarks [Member] \| Installment Two [Member]
Assets Acquisition [Line Items]
Proceeds from Issuance of Long-term Debt, Total				$ 1,300,000
Parent Company [Member] \| Judith Ripka Trademarks [Member]
Assets Acquisition [Line Items]
Percentage of Common Stock Issued and Outstanding				4.75%

Trademarks, Goodwill and Other Intangibles (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Trademarks	$ 112,113,000	$ 96,662,000
Licensing agreements	2,000,000	2,000,000
Non-compete agreement	562,000	562,000
Copyrights and other intellectual property	190,000	190,000
Accumulated amortization, trademarks, licensing and non-compete agreements	(2,542,000)	(1,735,000)
Net carrying amount	$ 112,323,000	$ 97,679,000

Trademarks, Goodwill and Other Intangibles (Details 1)	Dec. 31, 2015 USD ($)
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
2016	$ 1,128,000
2017	1,128,000
2018	1,128,000
2019	1,128,000
2020	1,128,000
Thereafter	10,007,000
Total	$ 15,647,000

Trademarks, Goodwill and Other Intangibles (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Research and Development Assets Acquired Other than Through Business Combination [Line Items]
Amortization of Intangible Assets	$ 807,000	$ 543,000
Goodwill	$ 12,371,000	$ 12,371,000

Significant Contracts (Details)	12 Months Ended
Significant Contracts (Details)	Dec. 31, 2015
IM QVC Agreement [Member]
Current Term Expiry	Sep. 30, 2020
Automatic Renewal	1 year
Xcel Commenced Brand with QVC	September 2011
QVC Product Launch	2010
Ripka QVC Agreement [Member]
Current Term Expiry	Mar. 31, 2019
Automatic Renewal	1 year
Xcel Commenced Brand with QVC	April 2014
QVC Product Launch	1999
H QVC Agreement [Member]
Current Term Expiry	Dec. 31, 2019
Automatic Renewal	3 years
Xcel Commenced Brand with QVC	January 2015
QVC Product Launch	September 2015
C Wonder QVC Agreement [Member]
Current Term Expiry	Jan. 01, 2021
Automatic Renewal	3 years
Xcel Commenced Brand with QVC	August 2015
QVC Product Launch	March 2016

Significant Contracts (Details Textual) - Royalty Agreement With QVC [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Royalty Revenue	$ 22,210	$ 16,430
Revenue from Royalty, Percentage	80.00%	79.00%
Accounts Receivable, Gross	$ 6,400	$ 2,360
Accounts Receivables, Percentage	84.00%	65.00%
Accrued Fees and Other Revenue Receivable	$ 1,180

Debt (Details) - USD ($)

Dec. 31, 2015

Dec. 31, 2014

Net unamortized deferred finance costs related to term loans

^[1]

$ (493,000)

$ (624,000)

Total

41,028,000

50,440,000

Current portion

^[2],[3]

9,168,000

11,416,000

Total long term debt

31,860,000

39,024,000

IM Term Loan [Member]

Contingent obligation - due to seller

Term Note

^[4]

11,375,000

12,750,000

Seller Note

4,918,000

5,366,000

250,000

5,766,000

JR Term Loan [Member]

Contingent obligation - due to seller

Term Note

^[4]

7,875,000

9,000,000

Seller Note

469,000

4,398,000

3,784,000

H Term Loan [Member]

Term Note

^[4]

10,000,000

CW Term Loan [Member]

Contingent obligation - due to seller

$ 2,850,000

$ 0

[1]	See Note 2, Summary of Significant Accounting Policies, Recent Accounting Pronouncements.
[2]	$4.918 million of the current portion of long-term debt as of December 31, 2015 consists of the IM Seller Note, described below, which is payable in common stock or cash, at the Company’s option.
[3]	The current portion of long-term debt presented on the consolidated balance sheet at December 31, 2015 includes $4.000 million related to term loan debt, reflecting scheduled January 2016 principal payments of $1.375 million under the term loans which existed as of December 31, 2015, plus $2.625 million of 2016 principal payments due under the refinanced term loan debt (the Xcel Term Loan, as defined below).
[4]	Term loans outstanding as of December 31, 2015 were refinanced in February 2016, as described below.

Debt (Details 1) - USD ($)

Dec. 31, 2015

Dec. 31, 2014

Total

$ 41,028,000

$ 50,440,000

Xcel Term Loan [Member]

2016(i)

^[1]

2,625,000

4,000,000

4,000,000

4,000,000

4,000,000

9,250,000

$ 27,875,000

[1]	Does not include $1.375 million in principal payments made on January 1, 2016.

Debt (Details 2)

Dec. 31, 2015

USD ($)

Debt Instrument, Payment Amount

$ 2,625,000

January 31, 2016 [Member]

Debt Instrument, Payment Amount

750,000

^[1]

September 30, 2016 [Member]