Commitments And Contingencies

12 Months Ended

Dec. 31, 2011

Commitments And Contingencies [Abstract]

Commitments And Contingencies

13. Commitments and Contingencies

Operating Leases

As of December 31, 2011, the Company leases office, warehouse and retail space under operating leases. The leases expire over the next six years and some contain provisions for certain annual rental escalations, and renewal options for additional periods. Rent expense is computed on the straight-line method over the lease term period.

The future aggregate minimum annual lease payments under the Company's non-cancellable operating leases are as follows: (dollar amounts in thousands)

Calendar Year
2012	$	3,503
2013		2,817
2014		1,742
2015		1,131
2016		868
Thereafter		526
Total minimum lease commitments	$	10,587

Rent expense charged to operations for the years ended December 31, 2011 and December 31, 2010, were $5,456 and $4,859, respectively. The Company was a named party in a breach of contract suit by a former landlord. The Parties settled the dispute for $475 in February 2012. The $475 was accrued for at December 31, 2011.

Capital Leases

The Company has entered into capital leases for computer and warehouse equipment. The leases require monthly payments of approximately $41 and expire in 2012 through 2014. The interest rate on this capital leases range from 4%-12%.

Future minimum payments required under the capital leases consist of the following as of December 31, 2011:

Year Ending December 31,	Amount
2012		519
2013		434
2014		316
Total		1,269
Less Amount representing interest		(126	)
Present Value of net minimum lease payments		1,143
Less Current portion		(445	)
Long term portion		698

Commitment under Retail Contract

As a result of the Retail Contract transfer from CMS to Dreams, Inc. effective September 1, 2010, Dreams was required to post a $600 irrevocable standby letter of credit for the benefit of The University of Texas to comply with certain terms and conditions of the agreement. In addition, the Company is required to make quarterly payments of $150 towards an annual minimum royalty figure of $600.

Future Contractual Payments to Athletes

As of December 31, 2011, the Company had one remaining agreement with an athlete to provide autographs in the future and the rights to produce and sell certain products.The amount due for 2012 $666. The autographs are received by the Company as a part of inventory products and resold throughout the Company's distribution channels.