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Weighted Average Life (Years) | April 30, 2016 | January 30, 2016 | ||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |||||||||||||||
Finite-lived intangible assets: | ||||||||||||||||||
EVINE trademark | 15 | $ | 1,103,000 | $ | (98,000 | ) | $ | 1,103,000 | $ | (80,000 | ) | |||||||
Total finite-lived intangible assets | $ | 1,103,000 | $ | (98,000 | ) | $ | 1,103,000 | $ | (80,000 | ) | ||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||
FCC broadcast license | $ | 12,000,000 | $ | 12,000,000 |
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April 30, 2016 | January 30, 2016 | |||||||
PNC Credit Facility | ||||||||
PNC revolving loan due May 1, 2020, principal amount | $ | 59,900,000 | $ | 59,900,000 | ||||
PNC term loan due May 1, 2020, principal amount | 12,245,000 | 12,780,000 | ||||||
Less unamortized debt issuance costs | (244,000 | ) | (266,000 | ) | ||||
PNC term loan due May 1, 2020, carrying amount | 12,001,000 | 12,514,000 | ||||||
GACP Credit Agreement | ||||||||
GACP term loan due March 9, 2021, principal amount | 16,930,000 | — | ||||||
Less unamortized debt issuance costs | (1,406,000 | ) | — | |||||
GACP term loan due March 9, 2021, carrying amount | 15,524,000 | — | ||||||
Total long-term credit facilities | 87,425,000 | 72,414,000 | ||||||
Less current portion of long-term credit facilities | (2,993,000 | ) | (2,143,000 | ) | ||||
Long-term credit facilities, excluding current portion | $ | 84,432,000 | $ | 70,271,000 |
PNC Credit Facility | ||||||||||||||||
Fiscal year | Term loan | Revolving loan | GACP Term Loan | Total | ||||||||||||
2016 | $ | 1,608,000 | $ | — | $ | 637,000 | $ | 2,245,000 | ||||||||
2017 | 2,321,000 | — | 921,000 | 3,242,000 | ||||||||||||
2018 | 2,143,000 | — | 850,000 | 2,993,000 | ||||||||||||
2019 | 1,964,000 | — | 780,000 | 2,744,000 | ||||||||||||
2020 | 4,209,000 | 59,900,000 | 850,000 | 64,959,000 | ||||||||||||
2021 | — | — | 12,892,000 | 12,892,000 | ||||||||||||
$ | 12,245,000 | $ | 59,900,000 | $ | 16,930,000 | $ | 89,075,000 |
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Fiscal 2016 | Fiscal 2015 | ||
Expected volatility | 84% | 82% | |
Expected term (in years) | 6 years | 6 years | |
Risk-free interest rate | 1.7% | 1.7% |
2011 Incentive Stock Option Plan | Weighted Average Exercise Price | 2004 Incentive Stock Option Plan | Weighted Average Exercise Price | 2001 Incentive Stock Option Plan | Weighted Average Exercise Price | |||||||||||||||
Balance outstanding, January 30, 2016 | 1,555,000 | $ | 4.30 | 670,000 | $ | 6.18 | 399,000 | $ | 7.78 | |||||||||||
Granted | 966,000 | $ | 1.19 | — | $ | — | — | $ | — | |||||||||||
Exercised | — | $ | — | — | $ | — | — | $ | — | |||||||||||
Forfeited or canceled | (495,000 | ) | $ | 4.68 | (19,000 | ) | $ | 8.78 | (8,000 | ) | $ | 10.48 | ||||||||
Balance outstanding, April 30, 2016 | 2,026,000 | $ | 2.72 | 651,000 | $ | 6.10 | 391,000 | $ | 7.73 | |||||||||||
Options exercisable at April 30, 2016 | 841,000 | $ | 3.76 | 633,000 | $ | 6.14 | 391,000 | $ | 7.73 |
Options Outstanding | Options Vested or Expected to Vest | ||||||||||||||||||||||||
Option Type | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | |||||||||||||||||
2011 Incentive: | 2,026,000 | $ | 2.72 | 8.6 | $ | 340,000 | 1,926,000 | $ | 2.78 | 8.5 | $ | 306,000 | |||||||||||||
2004 Incentive: | 651,000 | $ | 6.10 | 3.0 | $ | 1,000 | 649,000 | $ | 6.10 | 3.0 | $ | 1,000 | |||||||||||||
2001 Incentive: | 391,000 | $ | 7.73 | 2.0 | $ | — | 391,000 | $ | 7.73 | 2.0 | $ | — |
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Percentile Rank | Percentage of Units Vested | |
< 33% | 0% | |
33% | 50% | |
50% | 100% | |
100% | 150% |
Percentile Rank | Percentage of Units Vested | |
< 33% | 0% | |
33% | 50% | |
50% | 100% | |
100% | 150% |
Shares | Weighted Average Grant Date Fair Value | |||
Non-vested outstanding, January 30, 2016 | 861,000 | $4.46 | ||
Granted | 368,000 | $1.12 | ||
Vested | (28,000 | ) | $5.76 | |
Forfeited | (267,000 | ) | $5.60 | |
Non-vested outstanding, April 30, 2016 | 934,000 | $2.77 |
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Three-Month Periods Ended | ||||||||
April 30, 2016 | May 2, 2015 | |||||||
Jewelry & Watches | $ | 64,174 | $ | 65,809 | ||||
Home & Consumer Electronics | 35,646 | 37,110 | ||||||
Beauty | 23,240 | 19,525 | ||||||
Fashion & Accessories | 27,528 | 23,329 | ||||||
All other (primarily shipping & handling revenue) | 16,332 | 12,678 | ||||||
Total | $ | 166,920 | $ | 158,451 |
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Weighted Average Life (Years) | April 30, 2016 | January 30, 2016 | ||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |||||||||||||||
Finite-lived intangible assets: | ||||||||||||||||||
EVINE trademark | 15 | $ | 1,103,000 | $ | (98,000 | ) | $ | 1,103,000 | $ | (80,000 | ) | |||||||
Total finite-lived intangible assets | $ | 1,103,000 | $ | (98,000 | ) | $ | 1,103,000 | $ | (80,000 | ) | ||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||
FCC broadcast license | $ | 12,000,000 | $ | 12,000,000 |
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PNC Credit Facility | ||||||||||||||||
Fiscal year | Term loan | Revolving loan | GACP Term Loan | Total | ||||||||||||
2016 | $ | 1,608,000 | $ | — | $ | 637,000 | $ | 2,245,000 | ||||||||
2017 | 2,321,000 | — | 921,000 | 3,242,000 | ||||||||||||
2018 | 2,143,000 | — | 850,000 | 2,993,000 | ||||||||||||
2019 | 1,964,000 | — | 780,000 | 2,744,000 | ||||||||||||
2020 | 4,209,000 | 59,900,000 | 850,000 | 64,959,000 | ||||||||||||
2021 | — | — | 12,892,000 | 12,892,000 | ||||||||||||
$ | 12,245,000 | $ | 59,900,000 | $ | 16,930,000 | $ | 89,075,000 |
April 30, 2016 | January 30, 2016 | |||||||
PNC Credit Facility | ||||||||
PNC revolving loan due May 1, 2020, principal amount | $ | 59,900,000 | $ | 59,900,000 | ||||
PNC term loan due May 1, 2020, principal amount | 12,245,000 | 12,780,000 | ||||||
Less unamortized debt issuance costs | (244,000 | ) | (266,000 | ) | ||||
PNC term loan due May 1, 2020, carrying amount | 12,001,000 | 12,514,000 | ||||||
GACP Credit Agreement | ||||||||
GACP term loan due March 9, 2021, principal amount | 16,930,000 | — | ||||||
Less unamortized debt issuance costs | (1,406,000 | ) | — | |||||
GACP term loan due March 9, 2021, carrying amount | 15,524,000 | — | ||||||
Total long-term credit facilities | 87,425,000 | 72,414,000 | ||||||
Less current portion of long-term credit facilities | (2,993,000 | ) | (2,143,000 | ) | ||||
Long-term credit facilities, excluding current portion | $ | 84,432,000 | $ | 70,271,000 |
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Fiscal 2016 | Fiscal 2015 | ||
Expected volatility | 84% | 82% | |
Expected term (in years) | 6 years | 6 years | |
Risk-free interest rate | 1.7% | 1.7% |
2011 Incentive Stock Option Plan | Weighted Average Exercise Price | 2004 Incentive Stock Option Plan | Weighted Average Exercise Price | 2001 Incentive Stock Option Plan | Weighted Average Exercise Price | |||||||||||||||
Balance outstanding, January 30, 2016 | 1,555,000 | $ | 4.30 | 670,000 | $ | 6.18 | 399,000 | $ | 7.78 | |||||||||||
Granted | 966,000 | $ | 1.19 | — | $ | — | — | $ | — | |||||||||||
Exercised | — | $ | — | — | $ | — | — | $ | — | |||||||||||
Forfeited or canceled | (495,000 | ) | $ | 4.68 | (19,000 | ) | $ | 8.78 | (8,000 | ) | $ | 10.48 | ||||||||
Balance outstanding, April 30, 2016 | 2,026,000 | $ | 2.72 | 651,000 | $ | 6.10 | 391,000 | $ | 7.73 | |||||||||||
Options exercisable at April 30, 2016 | 841,000 | $ | 3.76 | 633,000 | $ | 6.14 | 391,000 | $ | 7.73 |
Options Outstanding | Options Vested or Expected to Vest | ||||||||||||||||||||||||
Option Type | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | |||||||||||||||||
2011 Incentive: | 2,026,000 | $ | 2.72 | 8.6 | $ | 340,000 | 1,926,000 | $ | 2.78 | 8.5 | $ | 306,000 | |||||||||||||
2004 Incentive: | 651,000 | $ | 6.10 | 3.0 | $ | 1,000 | 649,000 | $ | 6.10 | 3.0 | $ | 1,000 | |||||||||||||
2001 Incentive: | 391,000 | $ | 7.73 | 2.0 | $ | — | 391,000 | $ | 7.73 | 2.0 | $ | — |
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Percentile Rank | Percentage of Units Vested | |
< 33% | 0% | |
33% | 50% | |
50% | 100% | |
100% | 150% |
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Three-Month Periods Ended | ||||||||
April 30, 2016 | May 2, 2015 | |||||||
Jewelry & Watches | $ | 64,174 | $ | 65,809 | ||||
Home & Consumer Electronics | 35,646 | 37,110 | ||||||
Beauty | 23,240 | 19,525 | ||||||
Fashion & Accessories | 27,528 | 23,329 | ||||||
All other (primarily shipping & handling revenue) | 16,332 | 12,678 | ||||||
Total | $ | 166,920 | $ | 158,451 |
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