Revolving Line of Credit

6 Months Ended

Jun. 30, 2013

Line of Credit Facility [Abstract]

Revolving Line of Credit

On May 10, 2013, the SkyMall Companies entered into a $7,650,000 revolving line of credit note with JPMorgan Chase Bank, N.A. that refinanced an existing line of credit (the “Bank Line”).  The Bank Line expires on June 30, 2014 and interest on outstanding borrowings is payable monthly at a rate of LIBOR plus 0.5%.  The Bank Line is fully guaranteed by, and secured by all of the assets of, Xhibit and its subsidiaries, including the SkyMall Companies, pursuant to Continuing Guarantees and Continuing Security Agreements of Xhibit and each of its subsidiaries. In addition to the guaranties provided by the Company, the Credit Facility is also guaranteed an affiliate company controlled by Jahm Najafi, a member of the Company's Board of Directors and the Company’s majority shareholder through beneficial ownership.  At June 30, 2013, there was $7,650,000 outstanding under the Bank Line.