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Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

BASIC		2015				2014				2013
Net income		$	6,402,405			$	7,706,921			$	7,265,717
Weighted average common shares outstanding			10,077,506				10,203,063				10,176,492
Earnings per share – basic		$	0.64			$	0.76			$	0.71
DILUTED
Net income		$	6,402,405			$	7,706,921			$	7,265,717
Weighted average common shares outstanding			10,077,506				10,203,063				10,176,492
Effect of restricted stock awards and assumed exercise of stock options			25,254				38,058				39,946
Weighted average common shares outstanding, assuming dilution			10,102,760				10,241,121				10,216,438
Earnings per share - diluted		$	0.63			$	0.75			$	0.71
Outstanding options and restricted stock awards excluded as anti-dilutive			60,433				-				-

Schedule of Goodwill [Table Text Block]

		Leather Factory				Tandy Leather				Total
Balance, January 1, 2014		$	598,579			$	383,406			$	981,985
Acquisitions and adjustments			-				-				-
Foreign exchange gain/loss			(10,199	)			-				(10,199	)
Impairments			-				-				-
Balance, December 31, 2014		$	588,380			$	383,406			$	971,786
Acquisitions and adjustments			-				-				-
Foreign exchange gain/loss			(18,430	)			-				(18,430	)
Impairments			-				-				-
Balance, December 31, 2015		$	569,950			$	383,406			$	953,356

Schedule of Finite-Lived Intangible Assets [Table Text Block]

		As of December 31, 20 15
		Gross				Accumulated Amortization				Net
Trademarks, Copyrights		$	554,369			$	544,504			$	9,865
Non-Compete Agreements			174,665				157,248				17,417
		$	729,034			$	701,752			$	27,282

		As of December 31, 20 14
		Gross				Accumulated Amortization				Net
Trademarks, Copyrights		$	544,369			$	518,426			$	25,943
Non-Compete Agreements			178,882				146,799				32,083
		$	723,251			$	665,225			$	58,026

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

		Leather Factory				Tandy Leather				Total
2016			108				6,335				6,443
2017			90				1,667				1,757
2018			-				1,417				1,417
2019			-				666				666
2020			-				666				666
Thereafter			-				6,333				6,333

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- Definition

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