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Note 14 - Subsequent Events
12 Months Ended
Dec. 31, 2011
Notes To Financial Statements  
Subsequent Events [Text Block]
14.   Subsequent Events
 
The Company currently leases the 1st through 5th floors at its New York City (“NYC”) location.  During the month of January, 2012 the Company relocated and consolidated its NYC  manufacturing and production operations to Carlstadt, New Jersey.  Various creative services, sales, marketing and admin activities remain in the NYC location.

On March 28, 2012, the Company completed negotiations with its NYC landlord to terminate its current leases for  the 1 st through 4 th floors (“Termination Agreement”) and entered into a new lease to move its remaining activities to the 8th floor in the same building.

Under the terms of the Termination Agreement, the Company agreed to (i) continue to pay rent at its current annual rate, as well as, certain related charges under the current leases through December 31, 2012, (ii) pay a one-time settlement payment of $125 to satisfy its restoration obligations and other disputed charges under the current leases upon execution of the agreement, and (iii), make an additional single payment  termination fee of $850 on December 31, 2012.

Under the terms of the new lease, the Company  will  rent the 8 th floor at an annual base rent of $1,139 beginning January 1, 2013.  The Landlord agreed to rent concessions through December 31, 2012 and to reimburse the Company for up to $1,084 in costs expended by the Company in its build-out of the 8 th floor, which work is scheduled to be completed by September 30, 2012. The Company’s sublease for the 5th floor terminated on December 31, 2011; and has extended its occupancy of that space through an interim lease agreement with the Landlord at the rate of $15 per month until its move to the 8th Floor, and will retain the basement space through the end of 2012 at the rate of $2 per month.
 
The Company vacated most of the 1 st thorough 4 th floors during the 1st quarter of 2012 as it relocated and consolidated its manufacturing and production operations at its new 77,000 square feet facility in Carlstadt, New Jersey. The Company will relocate remaining functions, currently housed in a portion of the Existing Premises, plus the Company’s executive and sales offices located on the 5th Floor, to the New Premises when work on the 8th Floor is completed, on or about September 30, 2012. In the event the Company does not vacate the 3rd, 4th and 5th floors by September 30, 2012, it may be subject to additional charges at the rate of $3 per day.