10-K Filing

KOSS CORP CIK: 56701 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0000056701-18-000033`
Period End Date	20180630
Filing Date	20180823
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	koss-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 22 Cash Flow Statement 36 Stockholders Equity 10

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$55.17K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$55.87K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$51.85K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$432.28K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$735.39K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.38M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $51,854 and $55,872, respectively	`AccountsReceivableNetCurrent`	$4.71M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.38M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $51,854 and $55,872, respectively	`AccountsReceivableNetCurrent`	$3.93M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	Point-in-time
Inventories	`InventoryNet`	$8.35M	USD	Point-in-time
Inventories	`InventoryNet`	$6.14M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$206.78K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$206.40K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$32.38K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$32.81K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.95M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.41M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.13M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.04M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$6.37M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$6.02M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingEquipmentAndLeaseholdImprovements`	$6.37M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingEquipmentAndLeaseholdImprovements`	$9.07M	USD	Point-in-time
Total assets	`Assets`	$23.42M	USD	Point-in-time
Total assets	`Assets`	$19.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.24M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.61M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.29M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.39M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$155.70K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$164.42K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.46M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.85M	USD	Point-in-time
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 7,382,706 shares	`CommonStockValue`	$36.91K	USD	Point-in-time
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 7,382,706 shares	`CommonStockValue`	$36.91K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$5.75M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$5.42M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.19M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.42M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$24.05M	USD	Annual
Net sales	`SalesRevenueNet`	$23.52M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.16M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.93M	USD	Annual
Gross profit	`GrossProfit`	$6.90M	USD	Annual
Gross profit	`GrossProfit`	$6.58M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.94M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.60M	USD	Annual
Unauthorized transaction related (recoveries) costs, net	`UnauthorizedTransactionRelatedCostsRecoveriesNet`	$67.55K	USD	Annual
Unauthorized transaction related (recoveries) costs, net	`UnauthorizedTransactionRelatedCostsRecoveriesNet`	$-18.77K	USD	Annual
Interest expense	`InterestExpense`	$5.22K	USD	Annual
Interest expense	`InterestExpense`	$964.00	USD	Annual
(Loss) before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-773.09K	USD	Annual
(Loss) before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-343.36K	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$3.04M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$190.55K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-3.39M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-963.64K	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.46	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.13	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.46	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.13	USD	Annual

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-3.39M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-963.64K	USD	Annual
(Recovery of) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-4.87K	USD	Annual
(Recovery of) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-1.87K	USD	Annual
Loss on disposal of equipment and leasehold improvements	`GainLossOnDispositionOfAssets`	$-6.23K	USD	Annual
Loss on disposal of equipment and leasehold improvements	`GainLossOnDispositionOfAssets`	$-343.00	USD	Annual
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$526.26K	USD	Annual
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$503.58K	USD	Annual
Stock-based compensation expense	`StockOptionPlanExpense`	$349.75K	USD	Annual
Stock-based compensation expense	`StockOptionPlanExpense`	$331.56K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.04M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$170.30K	USD	Annual
Change in cash surrender value of life insurance	`LifeInsuranceCorporateOrBankOwnedChangeInValue`	$218.22K	USD	Annual
Change in cash surrender value of life insurance	`LifeInsuranceCorporateOrBankOwnedChangeInValue`	$223.90K	USD	Annual
Change in deferred compensation accrual	`IncreaseDecreaseInDeferredCompensation`	$256.70K	USD	Annual
Change in deferred compensation accrual	`IncreaseDecreaseInDeferredCompensation`	$249.59K	USD	Annual
Deferred compensation paid	`DeferredCompensationArrangementWithIndividualDistributionPaid`	$150.00K	USD	Annual
Deferred compensation paid	`DeferredCompensationArrangementWithIndividualDistributionPaid`	$150.00K	USD	Annual
Net changes in operating assets and liabilities (see note 14)	`IncreaseDecreaseInOperatingCapital`	$-640.23K	USD	Annual
Net changes in operating assets and liabilities (see note 14)	`IncreaseDecreaseInOperatingCapital`	$-287.08K	USD	Annual
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$234.25K	USD	Annual
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.03M	USD	Annual
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$133.93K	USD	Annual
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$131.22K	USD	Annual
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$250.62K	USD	Annual
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$403.43K	USD	Annual
Cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-381.84K	USD	Annual
Cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-537.36K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$649.25K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-303.11K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$432.28K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$735.39K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$432.28K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$735.39K	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Stockholders' equity at period start	`StockholdersEquity`	$14.52M	USD	Point-in-time
Stockholders' equity at period start	`StockholdersEquity`	$17.57M	USD	Point-in-time
Stockholders' equity at period start	`StockholdersEquity`	$18.19M	USD	Point-in-time
Net (loss)	`NetIncomeLoss`	$-3.39M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-963.64K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$331.56K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$349.75K	USD	Annual
Stockholders' equity at period end	`StockholdersEquity`	$14.52M	USD	Point-in-time
Stockholders' equity at period end	`StockholdersEquity`	$17.57M	USD	Point-in-time
Stockholders' equity at period end	`StockholdersEquity`	$18.19M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.