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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,678,000 $ 4,556,000
Accounts receivable, net of allowance for doubtful accounts $1,201 and $1,041, respectively 17,977,000 13,184,000
Deferred tax asset 1,522,000 1,358,000
Prepaid expenses and other current assets 390,000 191,000
Total current assets 23,567,000 19,289,000
Property and equipment, net of accumulated depreciation of $1,249 and $1,026, respectively 3,006,000 2,111,000
Trademarks and trade names with indefinite lives 8,467,000 8,467,000
Other intangibles with finite lives, net of accumulated amortization of $8,503 and $8,431 respectively 233,000 306,000
Goodwill 13,192,000 13,192,000
Other assets 297,000 405,000
TOTAL ASSETS 48,762,000 43,770,000
Current liabilities:    
Accounts payable and accrued liabilities 4,789,000 3,772,000
Due to models 12,330,000 9,745,000
Business Combination, Contingent Consideration, Liability, Current 97,000
Term loan - current 500,000
Total current liabilities 17,716,000 13,517,000
Long term liabilities:    
Contingent consideration to seller 67,000
Deferred income tax liability 2,929,000 2,407,000
Term loan – long term 2,230,000
Total long-term liabilities 5,159,000 2,474,000
Total liabilities 22,875,000 15,991,000
Shareholders’ equity:    
Preferred stock, $0.01 par value, 10,000,000 shares authorized; none issued 0 0
Common stock, $0.01 par value, 12,500,000 shares authorized; 6,472,038 shares issued at September 30, 2016 and December 31, 2015 65,000 65,000
Treasury stock, 1,090,370 and 683,654 shares, respectively, at cost (4,893,000) (2,118,000)
Additional paid-in capital 87,240,000 86,987,000
Accumulated deficit (56,463,000) (57,143,000)
Accumulated other comprehensive income (62,000) (12,000)
Total shareholders’ equity 25,887,000 27,779,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 48,762,000 $ 43,770,000