0000056701-22-000021 | 10-K | XBRL Viewer

Print Document View Excel Document

Document Information Statement - USD ($)	12 Months Ended
Document Information Statement - USD ($)	Jun. 30, 2022	Aug. 22, 2022	Dec. 31, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	0-3295
Entity Registrant Name	KOSS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	4129 North Port Washington Avenue
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Tax Identification Number	39-1168275
Entity Address, Postal Zip Code	53212
City Area Code	414
Local Phone Number	964-5000
Title of 12(b) Security	Common Stock, $0.005 par value per share
Trading Symbol	KOSS
Security Exchange Name	NASDAQ
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 53,187,151
Entity Common Stock, Shares Outstanding		9,147,795
Documents Incorporated by Reference [Text Block]	Part III of this Form 10-K incorporates by reference certain information from Koss Corporation’s Proxy Statement for its 2022 Annual Meeting of Stockholders to be filed with the Commission under Regulation 14A within 120 days of the end of the fiscal year covered by this Form 10-K.
Document Fiscal Period Focus	FY
Entity Central Index Key	0000056701
Amendment Flag	false
Auditor Name	WIPFLI LLP
Auditor Location	Milwaukee, Wisconsin
Auditor Firm ID	344

Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 9,208,170	$ 6,950,215
Accounts receivable, less allowance for doubtful accounts of $2,027 and $41,500, respectively	1,846,620	2,240,785
Inventories	8,631,362	5,901,512
Prepaid expenses and other current assets	188,478	456,004
Total current assets	19,874,630	15,548,516
Equipment and leasehold improvements, net	1,088,017	1,281,180
Other assets:
Operating lease right-of-use assets	3,247,725	2,305,455
Cash surrender value of life insurance	5,744,724	7,188,994
Total other assets	8,992,449	9,494,449
Total assets	29,955,096	26,324,145
Current liabilities:
Accounts payable	796,163	398,433
Accrued liabilities	560,356	665,567
Deferred revenue	543,891	694,632
Operating lease liability	223,530	288,949
Income taxes payable	3,033	4,543
Total current liabilities	2,126,973	2,052,124
Long-term liabilities:
Deferred compensation	1,937,229	2,491,482
Deferred revenue	169,210	188,932
Operating lease liability	3,024,195	2,016,506
Total long-term liabilities	5,130,634	4,696,920
Total liabilities	7,257,607	6,749,044
Stockholders' equity:
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 9,147,795 and 8,608,706 shares, respectively	45,739	43,044
Paid in capital	12,653,402	10,802,118
Retained earnings	9,998,348	8,729,939
Total stockholders' equity	22,697,489	19,575,101
Total liabilities and stockholders' equity	$ 29,955,096	$ 26,324,145

Consolidated Balance Sheets (Parentheticals) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 2,027	$ 41,500
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	9,147,795	8,608,706
Common stock, shares outstanding (in shares)	9,147,795	8,608,706

Consolidated Statements of Income - USD ($)	12 Months Ended
Consolidated Statements of Income - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Operations [Abstract]
Net sales	$ 17,607,267	$ 19,546,008
Cost of goods sold	10,989,889	12,813,873
Gross profit	6,617,378	6,732,135
Selling, general and administrative expenses	5,715,355	7,122,627
Income (loss) from operations	902,023	(390,492)
Other income	362,390	885,505
Interest income	11,513	2,706
Income before income tax provision	1,275,926	497,719
Income tax provision	7,517	4,125
Net income	$ 1,268,409	$ 493,594
Income per common share:
Basic (in dollars per share)	$ 0.14	$ 0.06
Diluted (in dollars per share)	$ 0.13	$ 0.05
Weighted-average number of shares:
Basic (in shares)	9,070,277	7,864,688
Diluted (in shares)	9,985,662	9,639,273

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 1,268,409	$ 493,594
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
(Recovery of) doubtful accounts of accounts receivable	(35,305)	(9,226)
Depreciation of equipment and leasehold improvements	293,465	302,616
Stock-based compensation expense	463,633	619,137
Change in cash surrender value of life insurance	(211,636)	(208,116)
(Benefit) provision for deferred compensation	(160,120)	308,000
Deferred compensation paid	(71,250)	(150,000)
Deferred compensation relieved	(472,883)
Other income - SBA loan forgiveness		(506,700)
Other income - Net gain from life insurance benefits	(262,391)
Loss on disposal of fixed assets	7,856
Net changes in operating assets and liabilities:
Accounts receivable	429,470	85,505
Inventories	(2,729,850)	(362,718)
Prepaid expenses and other current assets	267,526	(188,357)
Income taxes receivable		14,622
Income taxes payable	(1,510)	4,543
Accounts payable	397,730	(429,272)
Accrued liabilities	44,789	85,468
Deferred revenue	(170,463)	289,644
Net cash (used in) provided by operating activities	(942,530)	348,740
Investing activities:
Purchase of equipment and leasehold improvements	(108,158)	(600,155)
Life insurance premiums paid	(95,887)	(104,051)
Proceeds from life insurance policy	2,014,184
Net cash provided by (used in) investing activities	1,810,139	(704,206)
Financing activities:
Proceeds from exercise of stock options	1,390,346	3,306,272
Net cash provided by financing activities	1,390,346	3,306,272
Net increase in cash and cash equivalents	2,257,955	2,950,806
Cash and cash equivalents at beginning of year	6,950,215	3,999,409
Cash and cash equivalents at end of year	$ 9,208,170	$ 6,950,215

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Paid in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Jun. 30, 2020	7,404,831
Balance at Jun. 30, 2020	$ 37,024	$ 6,882,729	$ 8,236,345	$ 15,156,098
Net income			493,594	493,594
Stock-based compensation expense		619,137		$ 619,137
Exercise of common stock options (in shares)	1,203,875			1,203,875
Exercise of common stock options	$ 6,020	3,300,252		$ 3,306,272
Balance at Jun. 30, 2021	$ 43,044	10,802,118	8,729,939	$ 19,575,101
Balance (in shares) at Jun. 30, 2021	8,608,706			8,608,706
Net income			1,268,409	$ 1,268,409
Stock-based compensation expense		463,633		$ 463,633
Exercise of common stock options (in shares)	539,089			539,089
Exercise of common stock options	$ 2,695	1,387,651		$ 1,390,346
Balance at Jun. 30, 2022	$ 45,739	$ 12,653,402	$ 9,998,348	$ 22,697,489
Balance (in shares) at Jun. 30, 2022	9,147,795			9,147,795

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Jun. 30, 2022
Significant Accounting Policies [Abstract]
Significant Accounting Policies	KOSS CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. SIGNIFICANT ACCOUNTING POLICIES NATURE OF BUSINESS — Koss Corporation”("Koss"), a Delaware corporation, and its 100%-owned subsidiaries (collectively the "Company"), reports its finances as a single reporting segment, as the Company’s only business line is the design, manufacture and sale of stereo headphones and related accessories. The Company leases its plant and office in Milwaukee, Wisconsin. The domestic market is served by domestic sales representatives and independent manufacturers' representatives working directly with certain retailers, distributors, and original equipment manufacturers. International markets are served by domestic sales representatives and sales personnel in the Netherlands and the Caucasus region which utilize independent distributors in several foreign countries. The Company has two subsidiaries, Koss Corp B.V. and Koss U.K. Limited ("Koss UK"), which were formed to comply with certain European Union ("EU") requirements. Koss Corp B.V. and Koss UK are non-operating and hold no assets. BASIS OF CONSOLIDATION — The Consolidated Financial Statements include the accounts of Koss and its subsidiaries, Koss Corp B.V. and Koss UK, which are 100%-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. REVENUE RECOGNITION — Revenues from product sales are recognized when the customer obtains control of the product, which typically occurs upon shipment from the Company's facility. There are a very limited number of customers for which control does not pass until they have received the products at their facility. Revenue from product sales is adjusted for estimated warranty obligations and variable consideration, which are detailed below. The amount of revenue recognized is to reflect the consideration expected to be received for those goods or services. Warranties - The Company offers a lifetime warranty to consumers in the United States and certain other countries. This lifetime warranty creates a future performance obligation. The Company determines the standalone selling price for this performance obligation using the cost-plus method. There are also certain foreign distributors that receive warranty repair parts and replacement headphones to satisfy warranty obligations in those countries. The Company defers revenue to recognize the future obligations related to these warranties. The deferred revenue is based on historical analysis of warranty claims relative to sales. This deferred revenue reflects the Company's best estimates of the amount of warranty returns and repairs it will experience during those future periods. If future warranty activity varies from the estimates, the Company will adjust the estimated deferred revenue, which would affect net sales and operating results in the period that such adjustment becomes known. The Company typically receives payment for product at the time of shipment or under normal collection terms, which are generally 30-60 days. The Company estimates that the warranty related performance obligation is satisfied within one to three years and therefore uses that same time frame for recognition of the deferred revenue, using amortization of 50% in year 1, 30% in year 2, and 20% in year 3 for domestic sales. Export deferred revenue, where applicable, is recognized over a 12 month period from date of shipment. Reserves for Variable Consideration - Revenue from product sales is recorded at the net sales price, which includes estimates of variable consideration for which reserves are established and which result from returns, rebates, and co-pay assistance that are offered within contracts between the Company and its customers. Overall, these reserves reflect the Company's best estimates of the amount of consideration to which it is entitled based on the terms of the contract. If actual results in the future vary from the estimates, the Company will adjust these estimates, which would affect net sales and operating results in the period such variances become known. Product Returns - The Company generally offers customers a limited right of return. The Company estimates the amount of product sales that may be returned by its customers and records the estimate as a reduction of revenue in the period the related product revenue is recognized. Product return liabilities are estimated using historical sales and returns information. If actual results in the future vary from the estimates, the Company will adjust these estimates, which would affect net sales and operating results in the period such variances become known. Volume Rebates - The Company offers volume rebates to certain customers in the United States and certain foreign distributors. These volume rebates are tied to sales volume within specified periods. The amount of revenue is reduced for variable consideration related to customer rebates, which are calculated using expected values and is based on program specific factors such as expected rebate percentages and expected volumes. Changes in such accruals may be required if actual sales volume differs from estimated sales volume, which would affect net sales and operating results in the period such variances become known. Sales Commissions - The Company has elected the practical expedient of not capitalizing sales commissions. RESEARCH AND DEVELOPMENT — Research and development is primarily comprised of product prototypes and testing. These activities, charged to operations as a component of selling, general and administrative expenses in the accompanying Consolidated Statements of Income, amounted to $285,244 and $410,602 in 2022 and 2021, respectively. ADVERTISING COSTS — Advertising costs included within selling, general and administrative expenses in the accompanying Consolidated Statements of Income were $50,513 in 2022 and $33,976 in 2021. Such costs are expensed as incurred. INCOME TAXES — The Company operates as a C Corporation under the Internal Revenue Code (the “Code"). Amounts provided for income tax expense are based on income reported for financial statement purposes and do not necessarily represent amounts currently payable under tax laws. Deferred income tax assets and liabilities are computed annually for differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. As changes in tax laws or rates are enacted, deferred income tax assets and liabilities are adjusted through the provision for income taxes. The differences relate principally to different methods used for depreciation and amortization for income tax purposes, net operating loss carryforwards, capitalization requirements of the Code, allowances for doubtful accounts, provisions for excess and obsolete inventory, stock-based compensation, warranty reserves, and other income tax related carryforwards. A valuation allowance is established when necessary to reduce deferred income tax assets to the amount that is more likely than not to be realized. PATENT COSTS — The Company incurs on-going legal fees and filing costs related to the patent portfolio. These costs are expensed in the period they are incurred since no patent legal costs were probable to provide a future economic benefit. INCOME (LOSS) PER COMMON AND COMMON STOCK EQUIVALENT SHARE — Income (loss) per common and common stock equivalent share is calculated under the provisions of Topic 260 in the Accounting Standards Codification ("ASC") which provides for calculation of “basic” and “diluted” income (loss) per share. Basic income (loss) per common and common stock equivalent share includes no dilution and is computed by dividing net income (loss) by the weighted average common shares outstanding for the period. Diluted income (loss) per common and common stock equivalent share reflects the potential dilution of securities that could share in the earnings of an entity. See Note 10 for additional information on income (loss) per common and common stock equivalent share. CASH AND CASH EQUIVALENTS — The Company considers depository accounts and investments with a maturity at the date of acquisition and expected usage of three months or less to be cash and cash equivalents. The Company maintains its cash on deposit at a commercial bank located in the United States of America. The Company periodically has cash balances in excess of insured amounts. The Company has not experienced, and does not expect to incur, any losses on these deposits. ACCOUNTS RECEIVABLE — Accounts receivable consists of unsecured trade receivables due from customers. An allowance for doubtful accounts is recorded for significant past due receivable balances based on a review of the past due item and general economic conditions. INVENTORIES — As of June 30, 2022 and 2021, the Company’s inventory was recorded using standard cost which approximates the lower of first in first out (“FIFO”) cost or net realizable value. The carrying value of inventory is reviewed for impairment on at least a quarterly basis, or more frequently if warranted due to changes in market conditions. See Note 4 for additional information on inventory. EQUIPMENT AND LEASEHOLD IMPROVEMENTS — Equipment and leasehold improvements are stated at cost. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or the estimated useful life of the asset. Major expenditures for property and equipment and significant renewals are capitalized. Maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation and amortization are removed from the accounts and any resulting gains or losses are included in operations. See Note 5 for additional information on equipment and leasehold improvements. LEASES — The Company determines if a contract is a lease at the date of inception. The Company leases its facility in Milwaukee, Wisconsin from Koss Holdings, LLC, which is controlled by five equal ownership interests in trusts held by the 5 beneficiaries of the former chairman’s revocable trust and is an operating lease. Operating leases are reported on the Company's Consolidated Balance Sheets as operating lease right-of-use ("ROU") assets and operating lease liabilities. Operating lease ROU assets and liabilities are valued at the present value of the future lease payment obligations. Operating lease expense is recorded on a straight-line basis over the life of the lease taking into account expected renewal periods. LIFE INSURANCE POLICIES — Life insurance policies are stated at cash surrender value or at the amount the Company would receive in the case of split-dollar arrangements. Increases in cash surrender value, net of annual premiums paid, and the proceeds from company-owned life insurance policies are included in selling, general and administrative expenses and other income, respectively, in the Consolidated Statements of Income. DEFERRED COMPENSATION —At June 30, 2022, the Company’s deferred compensation liability is for a current officer and at June 30, 2021 is for a current and former office and is calculated based on various assumptions which may include compensation, years of service, expected retirement date, discount rates, and mortality tables. The related expense is calculated using the net present value of the expected payments and is included in selling, general and administrative expenses in the Consolidated Statements of Income. The selling, general and administrative expenses recorded during the year end June 20, 2022, also include the gain recorded as a result of the reversal of the deferred compensation current and noncurrent liabilities recorded for the Company’s founder who passed away on December 21, 2021. See Note 9 for additional information on deferred compensation. FAIR VALUE OF FINANCIAL INSTRUMENTS — Cash equivalents, accounts receivable, and accounts payable approximate fair value based on the short maturity of these instruments. IMPAIRMENT OF LONG-LIVED ASSETS — The Company evaluates the recoverability of the carrying amount of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. The Company evaluates the recoverability of equipment and leasehold improvements annually, or more frequently if events or circumstances indicate that an asset might be impaired. If an asset is considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. Management determines fair value using an undiscounted future cash flow analysis or other accepted valuation techniques. No impairments of the Company's long-lived assets were recorded in the years ended June 30, 2022, or 2021. LEGAL COSTS — All legal costs related to litigation, for which the Company is liable, are charged to operations as incurred, except settlements, which are expensed when a claim is probable and can be reasonably estimated. Recoveries of legal costs are recorded when the amount and items to be paid are confirmed by the third party. Proceeds from the settlement of legal disputes are recorded in income when the amounts are determinable, and the collection is certain. STOCK-BASED COMPENSATION — The Company has a stock-based employee compensation plan, which is described more fully in Note 11. The Company accounts for stock-based compensation in accordance with ASC 718 "Compensation - Stock Compensation". Under the fair value recognition provisions of this statement, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the vesting period. OTHER INCOME — In December 2021, the Company recognized approximately $262,000 of other income related to the proceeds from company-owned life insurance policies on its founder, who passed away on December 21, 2021. In July 2021, the Company entered into a license agreement with a headphone manufacturer (whereby the manufacturer licensed the use of certain patents in certain of their headphones). The one-time license fee of $100,000 was also treated as other income. Other income is shown as a separate line on the condensed Consolidated Statements of Income. There was a related payment of $100,000 to a third party that was charged to legal expense. On November 3, 2020, the Company was notified that the full $506,700 of the SBA Loan (see Note 7) was forgiven. The loan forgiveness was treated as other income and shown as a separate line on the Consolidated Statements of Operations for the year ended June 30, 2021. The Company followed the debt and debt extinguishment accounting model for the SBA Loan forgiveness. Other income also includes $378,805 received from a director in settlement of a short sale under Rule 144 during the year ended June 30, 2021. USE OF ESTIMATES — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates.

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Jun. 30, 2022
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	2. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes (Topic 740)", which removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. This guidance was effective for the Company July 1, 2021. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings in the period of adoption. The adoption of the new standard did not have a material impact to income taxes reported in the financial statements for the year ended June 30, 2022.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI https://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL122150809-237846

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

+ Details

Revenue Recognition

12 Months Ended

Jun. 30, 2022

Revenue Recognition [Abstract]

Revenue Recognition

3. REVENUE RECOGNITION

The Company disaggregates its net sales by geographical location as it believes it best depicts how the nature, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table summarizes net sales by geographical location:


	2022		2021
United States	$	13,034,647	$	14,298,358
Export		4,572,620		5,247,650
Net Sales	$	17,607,267	$	19,546,008

Deferred revenue relates primarily to consumer and customer warranties. These constitute future performance obligations and the Company defers revenue related to these future performance obligations. The Company recognized revenue, which was included in the deferred revenue liability at the beginning of the periods, of $453,693 and $325,962 in the years ended June 30, 2022 and 2021, respectively, for performance obligations related to consumer and customer warranties. The deferred revenue liability was $593,920 as of June 30, 2020. The Company estimates that the deferred revenue performance obligations are satisfied within 1 to 3 years and therefore uses the same time frame for recognition of the deferred revenue.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Inventories

12 Months Ended

Jun. 30, 2022

Inventories [Abstract]

Inventories

4. INVENTORIES

The components of inventories at June 30, 2022 and 2021 were as follows:


		2022		2021
Raw materials	$	2,217,621	$	2,067,572
Finished goods		8,302,546		5,621,228
Inventories, gross		10,520,167		7,688,800
Reserve for obsolete inventory		(1,888,805)		(1,787,288)
Inventories, net	$	8,631,362	$	5,901,512

Equipment and Leasehold Improvements

12 Months Ended

Jun. 30, 2022

Equipment and Leasehold Improvements [Abstract]

Equipment and Leasehold Improvements

5. EQUIPMENT AND LEASEHOLD IMPROVEMENTS

The major categories of equipment and leasehold improvements at June 30, 2022 and 2021 are summarized as follows:


	Estimated
	useful lives (in years)		2022		2021
Machinery and equipment	5 - 10	$	601,315	$	593,595
Furniture and office equipment	5 - 10		337,419		357,351
Tooling	5		4,506,044		4,407,535
Computer & technology equipment	3 - 5		197,073		821,371
Leasehold improvements	3 - 10		2,951,054		3,074,421
Assets in progress	N/A		235,749		276,054
			8,828,654		9,530,327
Less: accumulated depreciation and amortization			7,740,637		8,249,147
Equipment and leasehold improvements, net		$	1,088,017	$	1,281,180

Income Taxes

12 Months Ended

Jun. 30, 2022

Income Taxes [Abstract]

Income Taxes

6. INCOME TAXES

The Company utilizes the liability method of accounting for income taxes. The liability method measures the expected income tax impact of future taxable income and deductions implicit in the Consolidated Balance Sheets. The income tax provision in 2022 and 2021 consisted of the following:


Year Ended June 30,	2022		2021
Current:
Federal	$	—	$	—
State		7,517		4,125
Deferred		—		—
Total income tax provision	$	7,517	$	4,125

The 2022 and 2021 tax results in an effective rate different than the federal statutory rate because of the following:


Year Ended June 30,	2022		2021
Federal income tax liability at statutory rate	$	267,945	$	104,522
State income tax liability, net of federal income tax effect		5,938		3,259
Increase in valuation allowance		1,486,001		7,741,570
Stock option (deduction)		(1,966,822)		(8,326,662)
Non-deductible officers' compensation		127,612		657,464
All other permanent items		(50,573)		(172,863)
R&D credit		(34,936)		(30,000)
Return-to-provision		(38,863)		(3,303)
Expiration of stock options and tax credits		7,573		40,572
State tax rate change		157,716		(30,887)
Other		45,926		20,453
Total income tax provision	$	7,517	$	4,125

Temporary differences which give rise to deferred income tax assets and liabilities at June 30, 2022 and June 30, 2021 include:


	2022		2021
Deferred income tax assets:
Deferred compensation	$	479,340	$	664,705
Stock-based compensation		107,499		116,582
Accrued expenses and reserves		551,562		543,940
Deferred revenue		176,447		222,341
Federal and state net operating loss carryforwards		9,942,511		8,333,391
Credit carryforwards		292,155		252,192
Equipment and leasehold improvements		122,764		57,639
Lease liability		803,603		580,053
Valuation allowance		(11,671,606)		(10,185,605)
Total deferred income tax assets		804,275		585,238

Deferred income tax liabilities:
ROU asset		(803,603)		(580,053)
Other		(672)		(5,185)
Net deferred income tax assets	$	-	$	-

Deferred income tax balances reflect the effects of temporary differences between the tax bases of assets and liabilities and their carrying amounts. These differences are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. The recognition of these deferred tax balances will be realized through normal recurring operations and, as such, the Company has recorded the value of such expected benefits. The Company has federal net operating loss carryforwards of approximately $352,000 which expire in fiscal year 2037 and approximately $38,202,000 which can be carried forward indefinitely. The Company has state net operating loss carryforwards totaling approximately $12,323,000 in Wisconsin, which expire in tax years 2029 through 2041, and approximately $17,961,000 in other states. In the year ended June 30, 2022, the Company generated federal net operating losses of approximately $7,199,000. At the state level, the fiscal 2022 net operating loss generated in Wisconsin was approximately $1,144,000 and approximately $3,536,000 in all other states combined.

The need for a valuation allowance is evaluated each accounting period based on the Company’s evaluation of positive and negative evidence concerning the usage of their deferred tax assets. As of the end of the period, the Company has evaluated all evidence concerning the usage of their deferred tax assets and the determination has been made to maintain a full valuation allowance on the Company’s net deferred tax asset. The need for a valuation allowance is an estimate at period-end, which is subject to change once additional evidence is obtained in future periods. Future evidence includes, but is not limited to, license agreement proceeds which are expected to be recorded into earnings in the subsequent period. This is a subsequent event that was not known or knowable at June 30, 2022. When the license proceeds are recognized in a future period, the evidence will be considered in determining the Company's expected usage of their deferred tax assets, and may have a material impact on the Company's financial statements.

Generally accepted accounting principles in the United States (“GAAP”) prescribe a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken, or expected to be taken, in a tax return. There were no additional significant matters determined to be unrecognized tax benefits taken or expected to be taken in a tax return that have been recorded on the Company’s Consolidated Financial Statements for the years ended June 30, 2022 and 2021.

Additionally, GAAP provides guidance on the recognition of interest and penalties related to income taxes. No interest or penalties related to income taxes has been accrued or recognized as of and for the years ended June 30, 2022 or 2021. The Company records interest related to unrecognized tax benefits in interest expense.

The Company does not believe it has any unrecognized tax benefits as of June 30, 2022 or 2021. Any changes to the Company's unrecognized tax benefits during the fiscal years ended June 30, 2022 and 2021 would have impacted the effective tax rate.

The Company files income tax returns in the United States federal jurisdiction and in several state jurisdictions. The Company’s federal tax returns for tax years and state income tax returns are open for the standard statutory period.

The following are the changes in the valuation allowance:


	Balance,		Decrease (Increase)
	beginning		in valuation		Balance,
Year Ended June 30,	of year		allowance		end of year
2022	$	(10,185,605)	$	(1,486,001)	$	(11,671,606)
2021	$	(2,444,035)	$	(7,741,570)	$	(10,185,605)

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Credit Facility and SBA Loan

12 Months Ended

Jun. 30, 2022

Credit Facility and SBA Loan [Abstract]

Credit Facility and SBA Loan

7. CREDIT FACILITY AND SBA LOAN

On May 14, 2019, the Company entered into a secured credit facility ("Credit Agreement") with Town Bank (“Lender”). The Credit Agreement provides for a $5,000,000 revolving secured credit facility with an interest rate of 1.50% over LIBOR. The Credit Agreement also provides for letters of credit for the benefit of the Company of up to a sublimit of $1,000,000. There are no unused line fees in the credit facility. On January 28, 2021, the Credit Agreement was amended to extend the expiration to October 31, 2022, and to change the interest rate to Wall Street Journal Prime less 1.50%. The Company and the Lender also entered into a General Business Security Agreement dated May 14, 2019 under which the Company granted the Lender a security interest in substantially all of the Company’s assets in connection with the Company’s obligations under the Credit Agreement. The Credit Agreement contains certain affirmative and negative covenants customary for financings of this type. The negative covenants include restrictions on other indebtedness, liens, fundamental changes, certain investments, disposition of assets, mergers and liquidations, among other restrictions. As of June 30, 2022, the Company was in material compliance with all covenants related to the Credit Agreement. As of June 30, 2022 and 2021, there were no outstanding borrowings on the facility.

On November 3, 2020, the Company was notified that the full principal amount of the SBA Loan received under the Small Business Administration ("SBA") Paycheck Protection Program (the “PPP”) of the CARES Act through Town Bank had been forgiven and $506,700 was recorded as other income in the 2021 Consolidated Statement of Income.

The Company incurs interest expense primarily related to its secured credit facility. There was no interest expense for the years ended June 30, 2022 or 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Accrued liabilities

12 Months Ended

Jun. 30, 2022

Accrued Liabilities [Abstract]

Accrued Liabilities

8. ACCRUED LIABILITIES

Accrued liabilities as of June 30, 2022 and 2021 were as follows:


	2022		2021
Cooperative advertising and promotion allowances	$	200,175	$	201,006
Customer credit balances		30,515		1,008
Current deferred compensation		—		150,000
Employee benefits		75,101		83,463
Legal and professional fees		86,500		73,200
Bonus and profit-sharing		91,784		38,199
Sales commissions and bonuses		39,195		70,175
Other		37,086		48,516
Total accrued liabilities	$	560,356	$	665,567

Deferred Compensation

12 Months Ended

Jun. 30, 2022

Deferred Compensation [Abstract]

Deferred Compensation

9. DEFERRED COMPENSATION

As of June 30, 2022 and 2021, the Company has a deferred compensation agreement with a current officer. As of June 30, 2021 the Company also had a deferred compensation agreement with a former officer, who has since passed away. The related expense is calculated using the net present value of the expected payments and is included in selling, general and administrative expenses in the Consolidated Statements of Income. The Company's current and non-current deferred compensation obligations are included in accrued liabilities and deferred compensation, respectively, in the Consolidated Balance Sheets.

The Board of Directors entered into an agreement to continue the 1991 base salary of the Company’s founder and former chairman beginning in fiscal year ended June 30, 2015 and continuing for the remainder of his life. In December 2021, the former officer passed away. In fiscal year 2022 payments totaling $71,250 were made to the former officer under the deferred compensation arrangement until December 31, 2021 and were expensed as paid. At June 30, 2021, the Company had a total deferred compensation liability of $472,883 recorded related to the former officer, which at his death was relieved. As a result, deferred compensation income of $472,883 was recognized in selling, general and administrative expenses during the year ended June 30, 2022.

The remaining deferred compensation liability of $1,937,229 and $2,168,599 recorded at June 30, 2022 and June 30, 2021, respectively, relates to a supplemental retirement plan for a current officer that calls for annual cash compensation following retirement from the Company in an amount equal to 2% of base salary, as defined in the agreement, multiplied by the number of years of service to the Company. The retirement payments are to be paid monthly to the officer until his death and then to his surviving spouse monthly until her death. Deferred compensation (income)/expense of ($231,370) and $102,000 was recognized under this arrangement during the years ended June 30, 2022 and 2021, respectively, to record the liability at net present value of the future expected payments. The net present value was calculated using a discount factor of 4.78% at June 30, 2022 and 3.29% as of June 30, 2021. The life expectancies used in the calculation of net present value were 19.70 and 21.00 years for fiscal years ended June 30, 2022 and 2021, respectively. The current officer's retirement date is estimated to be October 2029.

Income Per Common and Common Stock Equivalent Share

12 Months Ended

Jun. 30, 2022

Income Per Common and Common Stock Equivalent Share [Abstract]

Income Per Common and Common Stock Equivalent Share

10. INCOME PER COMMON AND COMMON STOCK EQUIVALENT SHARE

Basic income per share is computed based on the weighted-average number of common shares outstanding. Diluted income per common share is calculated assuming the exercise of stock options except where the result would be anti-dilutive. The following table reconciles the numerator and denominator used to calculate basic and diluted income per share:


		Year Ended
	2022		2021
Numerator
Net income	$	1,268,409	$	493,594

Denominator
Weighted average shares, basic		9,070,277		7,864,688
Dilutive effect of stock compensation awards (1)		915,385		1,774,585
Diluted shares		9,985,662		9,639,273

Net income attributable to common shareholders per share:
Basic	$	0.14	$	0.06
Diluted	$	0.13	$	0.05

(1) No stock options were anti-dilutive for the years ended June 20, 2022 and 2021.

Stock Options

12 Months Ended

Jun. 30, 2022

Stock Options [Abstract]

Stock Options

11. STOCK OPTIONS

In 2012, pursuant to the recommendation of the Board of Directors, the stockholders ratified the creation of the Company’s 2012 Omnibus Incentive Plan (the “2012 Plan”), which superseded the 1990 Flexible Incentive Plan (the "1990 Plan"). The 2012 Plan is administered by a committee of the Board of Directors and provides for granting of various stock-based awards including stock options to eligible participants, primarily officers and certain key employees. A total of 2,000,000 shares of common stock were available under the terms of the 2012 Plan plus shares outstanding under the 1990 Plan that expired or were otherwise forfeited, canceled or terminated after July 25, 2012, the Effective Date of the 2012 Plan. As of June 30, 2022, there were 690,308 options available for future grants. Options vest over a 3-to-5-year period from the date of grant, with a maximum term of 5 to 10 years. The Company's policy is to issue new shares when stock options are exercised. As of July 25, 2022, the tenth anniversary of the 2012 Plan, no further awards may be made under the 2012 Plan.

The fair value of each stock option grant was estimated as of the date of grant using the Black-Scholes pricing model. The resulting compensation cost for fixed awards with graded vesting schedules is amortized on a straight-line basis over the vesting period for the entire award. Forfeitures are accounted for as they occur. The expected term of awards granted is determined based on historical experience with similar awards, giving consideration to the expected term and vesting schedules. The expected volatility is determined based on the Company’s historical stock prices over the most recent period commensurate with the expected term of the award. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term commensurate with the expected term of the award.

As of June 30, 2022, there was $553,237 of total unrecognized compensation cost related to stock options granted under the 2012 Plan. This cost is expected to be recognized over a weighted average period of 1.99 years. The Company recognized stock-based compensation expense of $463,633 and $619,137 in 2022 and 2021, respectively. These expenses were included in selling, general and administrative expenses.

Options are granted at a price equal to or greater than the market value of the common stock on the date of grant. The per share weighted average fair value of the stock options granted during the year ended June 30, 2021 was $1.12. No options were granted during the year ended June 30, 2022. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. For the options granted in 2021, the Company used the following weighted-average assumptions:


	2022	2021
Expected stock price volatility	n/a	77%
Risk free interest rate	n/a	0.34%
Expected dividend yield	n/a	—%
Expected life of options (years)	n/a	6.0

The following table identifies options granted, exercised, canceled, or available for exercise pursuant to the 1990 Plan and the 2012 Plan:


							Aggregate
						Weighted	Intrinsic
				Weighted		Average	Value of
		Stock		Average		Remaining	In-The-
	Number of	Options		Exercise		Contractual	Money
	Shares	Price Range		Price		Life - Years	Options
Shares under option at June 30, 2020	2,721,875	$	1.77 - $6.00	$	2.73	4.82	$	—
Granted	615,000	$	1.73 - $2.11	$	1.84
Exercised	(1,203,875)	$	1.77 - $6.00	$	2.75
Expired	(385,000)	$	1.77 - $5.24	$	3.24
Forfeited	—		—		—
Shares under option at June 30, 2021	1,748,000	$	1.73 - $6.00	$	2.29	4.86	$	36,594,280
Granted	—	$	—	$	—
Exercised	(539,089)	$	1.73 - $6.00	$	2.58
Expired	—	$	—	$	—
Forfeited	(150,000)		1.73 - $2.65		2.00
Shares under option at June 30, 2022	1,058,911	$	1.73 - $2.92	$	2.18	3.72	$	5,055,797
Exercisable as of June 30, 2021	288,000	$	1.73 - $6.00	$	3.19	2.81	$	5,767,425
Exercisable as of June 30, 2022	264,577	$	1.73 - $2.92	$	2.45	2.06	$	1,180,591

The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on any given date and the exercise price, multiplied by the number of in-the-money outstanding and exercisable stock options.

‎

A summary of intrinsic value and cash received from stock option exercises and fair value of vested stock options for the fiscal years ended June 30, 2022 and 2021 is as follows:


	2022		2021
Total intrinsic value of stock options exercised	$	9,032,778	$	31,877,285
Cash received from stock option exercises	$	1,390,346	$	3,306,272
Total fair value of stock options vested	$	620,018	$	550,093
Total recognized tax benefit	$	1,778,981	$	6,545,430


		Weighted
		Average
		Grant Date
	Shares	Fair Value
Non-vested as of June 30, 2020	1,313,166	1.26
Granted	615,000	1.12
Vested	(468,166)	1.17
Forfeited	—	—
Non-vested as of June 30, 2021	1,460,000	1.23
Granted	—	—
Vested	(515,666)	1.20
Forfeited	(150,000)	1.38
Non-vested as of June 30, 2022	794,334	1.22

Stock Repurchase Program	12 Months Ended
Stock Repurchase Program	Jun. 30, 2022
Stock Repurchase Program [Abstract]
Stock Repurchase Program	12. STOCK REPURCHASE PROGRAM In April 1995, the Board of Directors approved a stock repurchase program authorizing the Company to purchase from time to time up to $2,000,000 of its common stock for its own account. Subsequently, the Board of Directors periodically approved increases in the amount authorized for repurchase under the program. As of June 30, 2022, the repurchase of an aggregate of $45,500,000 of common stock was authorized under the stock repurchase program, of which $43,360,247 had been expended. No shares were repurchased in fiscal year 2022 or 2021. The Company has an agreement with the former chairman, in the event of his death, at the request of the executor of his estate, to repurchase up to $2,000,000 of Company common stock from his estate. The Company did not have the right to require the estate to sell stock to the Company. Upon his passing, the estate has twelve months to exercise the right to require the Company to repurchase the stock. The estate did not exercise this right as of June 30, 2022 and is not expected to do so. As of June 30, 2022, the estate of the former chairman did not hold a material amount of Company stock.

Leases

12 Months Ended

Jun. 30, 2022

Leases [Abstract]

Related Party Leases

13. LEASES

The Company leases its facility in Milwaukee, Wisconsin from Koss Holdings, LLC, which is controlled by five equal ownership interests in trusts held by the 5 beneficiaries of the former Chairman’s revocable trust. On May 24, 2022, the lease was renewed for a period of five years, ending June 30, 2028 (the “Extended Term”, and is being accounted for as an operating lease. The lease extension maintained the rent at a fixed rate of $380,000 per year and included an option to renew at an increased rate of $397,000 for an additional five years ending June 30, 2033 (the “Second Extended Term”). The negotiated increase in rent slated for 2028 will be the first increase in rent since 1996. The Company is responsible for all property maintenance, insurance, taxes and other normal expenses related to ownership.

The Company used its incremental borrowing rate as of the date of renewal, May 24, 2022, to recalculate the net present value of the operating lease ROU asset and liability. Both the Extended Term and the Second Extended Term renewal options were included in the calculation of the ROU asset and liability as the Company believes it is reasonably certain to exercise both rights to renew. The non-lease components of the agreement related to common area maintenance charges are accounted for separately.

Supplemental information related to lease expense and valuation of the ROU asset and liability was as follows:


		Year Ended
	2022		2021
Operating lease cost	$	380,000	$	380,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(380,000)	$	(380,000)
Weighted-average remaining lease term (in years)		11		7
Weighted-average discount rate		5.25%		4.25%

The maturity schedule of future minimum lease payments and reconciliation to the operating lease liabilities reported on the 2022 Consolidated Balance Sheet is as follows:


Year Ending June 30,
2023	$	380,000
2024		380,000
2025		380,000
2026		380,000
2027		380,000
Thereafter		2,365,000
Total lease payments		4,265,000
Present value adjustment		(1,017,275)
Total lease liabilities	$	3,247,725

Employee Benefit Plans

12 Months Ended

Jun. 30, 2022

Employee Benefit Plans [Abstract]

Employee Benefit Plans

14. EMPLOYEE BENEFIT PLANS

Substantially all domestic employees are participants in the Koss Employee Stock Ownership Trust ("KESOT") under which an annual contribution in either cash or common stock may be made at the discretion of the Board of Directors. No contributions were made for the fiscal years 2022 or 2021.

The Company maintains a retirement savings plan under Section 401(k) of the Internal Revenue Code. This plan covers all employees of the Company who have completed one full fiscal quarter of service. Matching contributions can be made at the discretion of the Board of Directors. For fiscal years 2022 and 2021, the matching contribution was 25% of employee contributions to the plan. Vesting of Company contributions occurs immediately. Company contributions were $89,314 and $79,481 during 2022 and 2021, respectively.

Concentrations

12 Months Ended

Jun. 30, 2022

Concentrations [Abstract]

Concentrations

15. CONCENTRATIONS

In the years ended June 30, 2022 and 2021, the Company’s largest customers were Amazon Seller Central and Ingram Micro, respectively. The Company’s sales to Amazon Seller Central were approximately 13% and 3% of net sales in fiscal year 2022 and 2021, respectively. Ingram Micro sales were approximately 10% and 18% of net sales in fiscal year 2022 and 2021, respectively. The five largest customers of the Company accounted for approximately 45% of net sales in fiscal year 2022 and 48% in fiscal year 2021.

The two customers with the largest accounts receivable balances as of June 30, 2022 and 2021 were Ingram Micro and Amazon Vendor Central. Accounts receivable from Ingram Micro as of June 30, 2022 and June 30, 2021, represented 19% and 24% of total trade accounts receivables, respectively. Amazon Vendor Central accounts receivable as of June 30, 2022 and June 30, 2021, were approximately 18% and 19% of total trade account receivables, respectively. The majority of international customers, outside of Canada, purchase products on a cash against documents or cash in advance basis. Approximately 4% and 6% of the Company's trade accounts receivable at June 30, 2022 and 2021, were foreign receivables denominated in U.S. dollars.

The Company uses contract manufacturing facilities in the People’s Republic of China. The majority of the contract manufacturing is done by two vendors with one vendor representing approximately 59% and 52% of the manufacturing costs in fiscal years 2022 and 2021, respectively. The Company has a long-term relationship with this vendor. However, increased costs from the vendor or an interruption of supply from this vendor could have a material adverse effect on the Company's profit margins and profitability.

Legal Matters

12 Months Ended

Jun. 30, 2022

Legal Matters [Abstract]

Legal Matters

16. LEGAL MATTERS

As of June 30, 2022, the Company is involved in the following matters described below:

As previously reported, the Company has launched a program focused on enforcing its intellectual property and, in particular, certain of its patent portfolio. The Company has continued to enforce its intellectual property by filing complaints against certain parties alleging infringement on the Company’s patents relating to its wireless audio technology. In the event that a monetary award or judgment is received by the Company in connection with these complaints, all or portions of such amounts will be due to third parties. The Company does not expect to incur additional fees and costs related to these lawsuits that may have a material impact to its financial statements. Depending on the response to and the underlying results of the enforcement program, the Company may continue to litigate its claims, enter into licensing arrangements or reach some other outcome potentially advantageous to its competitive position.

The Company was notified by One-E-Way, Inc. that some of the Company's wireless products may infringe on certain One-E-Way patents. No lawsuits involving these allegations have yet been filed and served on the Company. The Company is currently investigating whether these allegations have any merit. Depending on the results of the investigation and the defense of these allegations, the ultimate resolution of this matter may have a material effect on the Company's financial statements. The Company estimates that this matter will ultimately be resolved at a cost of approximately $41,000 to $140,000 and has accrued the lower amount as of June 30, 2022 and 2021.

The ultimate resolution of these matters is not determinable unless otherwise noted.

We also are subject to a variety of other claims and suits that arise from time to time in the ordinary course of our business. Although management currently believes that resolving these claims against us, individually or in aggregate, will not have a material adverse impact on our Consolidated Financial Statements, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future.

Subsequent Events

12 Months Ended

Jun. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

17. SUBSEQUENT EVENTS

In July 2022, in connection with its ongoing intellectual property enforcement program, which includes lawsuits alleging infringement of patents relating to its wireless audio technology, the Company has granted licenses covering certain Company patents and will realize approximately $12 million in non-recurring net proceeds, after fees and expenses, in the first quarter of fiscal year 2023.

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2022
Significant Accounting Policies [Abstract]
Nature of Business	NATURE OF BUSINESS — Koss Corporation”("Koss"), a Delaware corporation, and its 100%-owned subsidiaries (collectively the "Company"), reports its finances as a single reporting segment, as the Company’s only business line is the design, manufacture and sale of stereo headphones and related accessories. The Company leases its plant and office in Milwaukee, Wisconsin. The domestic market is served by domestic sales representatives and independent manufacturers' representatives working directly with certain retailers, distributors, and original equipment manufacturers. International markets are served by domestic sales representatives and sales personnel in the Netherlands and the Caucasus region which utilize independent distributors in several foreign countries. The Company has two subsidiaries, Koss Corp B.V. and Koss U.K. Limited ("Koss UK"), which were formed to comply with certain European Union ("EU") requirements. Koss Corp B.V. and Koss UK are non-operating and hold no assets.
Basis of Consolidation	BASIS OF CONSOLIDATION — The Consolidated Financial Statements include the accounts of Koss and its subsidiaries, Koss Corp B.V. and Koss UK, which are 100%-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
Revenue Recognition	REVENUE RECOGNITION — Revenues from product sales are recognized when the customer obtains control of the product, which typically occurs upon shipment from the Company's facility. There are a very limited number of customers for which control does not pass until they have received the products at their facility. Revenue from product sales is adjusted for estimated warranty obligations and variable consideration, which are detailed below. The amount of revenue recognized is to reflect the consideration expected to be received for those goods or services. Warranties - The Company offers a lifetime warranty to consumers in the United States and certain other countries. This lifetime warranty creates a future performance obligation. The Company determines the standalone selling price for this performance obligation using the cost-plus method. There are also certain foreign distributors that receive warranty repair parts and replacement headphones to satisfy warranty obligations in those countries. The Company defers revenue to recognize the future obligations related to these warranties. The deferred revenue is based on historical analysis of warranty claims relative to sales. This deferred revenue reflects the Company's best estimates of the amount of warranty returns and repairs it will experience during those future periods. If future warranty activity varies from the estimates, the Company will adjust the estimated deferred revenue, which would affect net sales and operating results in the period that such adjustment becomes known. The Company typically receives payment for product at the time of shipment or under normal collection terms, which are generally 30-60 days. The Company estimates that the warranty related performance obligation is satisfied within one to three years and therefore uses that same time frame for recognition of the deferred revenue, using amortization of 50% in year 1, 30% in year 2, and 20% in year 3 for domestic sales. Export deferred revenue, where applicable, is recognized over a 12 month period from date of shipment. Reserves for Variable Consideration - Revenue from product sales is recorded at the net sales price, which includes estimates of variable consideration for which reserves are established and which result from returns, rebates, and co-pay assistance that are offered within contracts between the Company and its customers. Overall, these reserves reflect the Company's best estimates of the amount of consideration to which it is entitled based on the terms of the contract. If actual results in the future vary from the estimates, the Company will adjust these estimates, which would affect net sales and operating results in the period such variances become known. Product Returns - The Company generally offers customers a limited right of return. The Company estimates the amount of product sales that may be returned by its customers and records the estimate as a reduction of revenue in the period the related product revenue is recognized. Product return liabilities are estimated using historical sales and returns information. If actual results in the future vary from the estimates, the Company will adjust these estimates, which would affect net sales and operating results in the period such variances become known. Volume Rebates - The Company offers volume rebates to certain customers in the United States and certain foreign distributors. These volume rebates are tied to sales volume within specified periods. The amount of revenue is reduced for variable consideration related to customer rebates, which are calculated using expected values and is based on program specific factors such as expected rebate percentages and expected volumes. Changes in such accruals may be required if actual sales volume differs from estimated sales volume, which would affect net sales and operating results in the period such variances become known. Sales Commissions - The Company has elected the practical expedient of not capitalizing sales commissions.
Research and Development	RESEARCH AND DEVELOPMENT — Research and development is primarily comprised of product prototypes and testing. These activities, charged to operations as a component of selling, general and administrative expenses in the accompanying Consolidated Statements of Income, amounted to $285,244 and $410,602 in 2022 and 2021, respectively.
Advertising Costs	ADVERTISING COSTS — Advertising costs included within selling, general and administrative expenses in the accompanying Consolidated Statements of Income were $50,513 in 2022 and $33,976 in 2021. Such costs are expensed as incurred.
Income Taxes	INCOME TAXES — The Company operates as a C Corporation under the Internal Revenue Code (the “Code"). Amounts provided for income tax expense are based on income reported for financial statement purposes and do not necessarily represent amounts currently payable under tax laws. Deferred income tax assets and liabilities are computed annually for differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. As changes in tax laws or rates are enacted, deferred income tax assets and liabilities are adjusted through the provision for income taxes. The differences relate principally to different methods used for depreciation and amortization for income tax purposes, net operating loss carryforwards, capitalization requirements of the Code, allowances for doubtful accounts, provisions for excess and obsolete inventory, stock-based compensation, warranty reserves, and other income tax related carryforwards. A valuation allowance is established when necessary to reduce deferred income tax assets to the amount that is more likely than not to be realized.
Patent Costs	PATENT COSTS — The Company incurs on-going legal fees and filing costs related to the patent portfolio. These costs are expensed in the period they are incurred since no patent legal costs were probable to provide a future economic benefit.
Income (Loss) Per Common And Common Stock Equivalent Share	INCOME (LOSS) PER COMMON AND COMMON STOCK EQUIVALENT SHARE — Income (loss) per common and common stock equivalent share is calculated under the provisions of Topic 260 in the Accounting Standards Codification ("ASC") which provides for calculation of “basic” and “diluted” income (loss) per share. Basic income (loss) per common and common stock equivalent share includes no dilution and is computed by dividing net income (loss) by the weighted average common shares outstanding for the period. Diluted income (loss) per common and common stock equivalent share reflects the potential dilution of securities that could share in the earnings of an entity. See Note 10 for additional information on income (loss) per common and common stock equivalent share.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS — The Company considers depository accounts and investments with a maturity at the date of acquisition and expected usage of three months or less to be cash and cash equivalents. The Company maintains its cash on deposit at a commercial bank located in the United States of America. The Company periodically has cash balances in excess of insured amounts. The Company has not experienced, and does not expect to incur, any losses on these deposits.
Accounts Receivable	ACCOUNTS RECEIVABLE — Accounts receivable consists of unsecured trade receivables due from customers. An allowance for doubtful accounts is recorded for significant past due receivable balances based on a review of the past due item and general economic conditions
Inventories	INVENTORIES — As of June 30, 2022 and 2021, the Company’s inventory was recorded using standard cost which approximates the lower of first in first out (“FIFO”) cost or net realizable value. The carrying value of inventory is reviewed for impairment on at least a quarterly basis, or more frequently if warranted due to changes in market conditions. See Note 4 for additional information on inventory.
Equipment and Leasehold Improvements	EQUIPMENT AND LEASEHOLD IMPROVEMENTS — Equipment and leasehold improvements are stated at cost. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or the estimated useful life of the asset. Major expenditures for property and equipment and significant renewals are capitalized. Maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation and amortization are removed from the accounts and any resulting gains or losses are included in operations. See Note 5 for additional information on equipment and leasehold improvements.
Leases	LEASES — The Company determines if a contract is a lease at the date of inception. The Company leases its facility in Milwaukee, Wisconsin from Koss Holdings, LLC, which is controlled by five equal ownership interests in trusts held by the 5 beneficiaries of the former chairman’s revocable trust and is an operating lease. Operating leases are reported on the Company's Consolidated Balance Sheets as operating lease right-of-use ("ROU") assets and operating lease liabilities. Operating lease ROU assets and liabilities are valued at the present value of the future lease payment obligations. Operating lease expense is recorded on a straight-line basis over the life of the lease taking into account expected renewal periods.
Life Insurance Policies	LIFE INSURANCE POLICIES — Life insurance policies are stated at cash surrender value or at the amount the Company would receive in the case of split-dollar arrangements. Increases in cash surrender value, net of annual premiums paid, and the proceeds from company-owned life insurance policies are included in selling, general and administrative expenses and other income, respectively, in the Consolidated Statements of Income.
Deferred Compensation	DEFERRED COMPENSATION —At June 30, 2022, the Company’s deferred compensation liability is for a current officer and at June 30, 2021 is for a current and former office and is calculated based on various assumptions which may include compensation, years of service, expected retirement date, discount rates, and mortality tables. The related expense is calculated using the net present value of the expected payments and is included in selling, general and administrative expenses in the Consolidated Statements of Income. The selling, general and administrative expenses recorded during the year end June 20, 2022, also include the gain recorded as a result of the reversal of the deferred compensation current and noncurrent liabilities recorded for the Company’s founder who passed away on December 21, 2021. See Note 9 for additional information on deferred compensation.
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS — Cash equivalents, accounts receivable, and accounts payable approximate fair value based on the short maturity of these instruments.
Impairment of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS — The Company evaluates the recoverability of the carrying amount of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. The Company evaluates the recoverability of equipment and leasehold improvements annually, or more frequently if events or circumstances indicate that an asset might be impaired. If an asset is considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. Management determines fair value using an undiscounted future cash flow analysis or other accepted valuation techniques. No impairments of the Company's long-lived assets were recorded in the years ended June 30, 2022, or 2021.
Legal Costs	LEGAL COSTS — All legal costs related to litigation, for which the Company is liable, are charged to operations as incurred, except settlements, which are expensed when a claim is probable and can be reasonably estimated. Recoveries of legal costs are recorded when the amount and items to be paid are confirmed by the third party. Proceeds from the settlement of legal disputes are recorded in income when the amounts are determinable, and the collection is certain.
Stock-Based Compensation	STOCK-BASED COMPENSATION — The Company has a stock-based employee compensation plan, which is described more fully in Note 11. The Company accounts for stock-based compensation in accordance with ASC 718 "Compensation - Stock Compensation". Under the fair value recognition provisions of this statement, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the vesting period.
Other Income	OTHER INCOME — In December 2021, the Company recognized approximately $262,000 of other income related to the proceeds from company-owned life insurance policies on its founder, who passed away on December 21, 2021. In July 2021, the Company entered into a license agreement with a headphone manufacturer (whereby the manufacturer licensed the use of certain patents in certain of their headphones). The one-time license fee of $100,000 was also treated as other income. Other income is shown as a separate line on the condensed Consolidated Statements of Income. There was a related payment of $100,000 to a third party that was charged to legal expense. On November 3, 2020, the Company was notified that the full $506,700 of the SBA Loan (see Note 7) was forgiven. The loan forgiveness was treated as other income and shown as a separate line on the Consolidated Statements of Operations for the year ended June 30, 2021. The Company followed the debt and debt extinguishment accounting model for the SBA Loan forgiveness. Other income also includes $378,805 received from a director in settlement of a short sale under Rule 144 during the year ended June 30, 2021.
Use of Estimates	USE OF ESTIMATES — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates.

Revenue Recognition (Tables)

12 Months Ended

Jun. 30, 2022

Revenue Recognition [Abstract]

Disaggregation of Revenue


	2022		2021
United States	$	13,034,647	$	14,298,358
Export		4,572,620		5,247,650
Net Sales	$	17,607,267	$	19,546,008

Inventories (Tables)

12 Months Ended

Jun. 30, 2022

Inventories [Abstract]

Components of Inventories


		2022		2021
Raw materials	$	2,217,621	$	2,067,572
Finished goods		8,302,546		5,621,228
Inventories, gross		10,520,167		7,688,800
Reserve for obsolete inventory		(1,888,805)		(1,787,288)
Inventories, net	$	8,631,362	$	5,901,512

Equipment and Leasehold Improvements (Table)

12 Months Ended

Jun. 30, 2022

Equipment and Leasehold Improvements [Abstract]

Summary of Major Categories of Equipment and Leasehold Improvements


	Estimated
	useful lives (in years)		2022		2021
Machinery and equipment	5 - 10	$	601,315	$	593,595
Furniture and office equipment	5 - 10		337,419		357,351
Tooling	5		4,506,044		4,407,535
Computer & technology equipment	3 - 5		197,073		821,371
Leasehold improvements	3 - 10		2,951,054		3,074,421
Assets in progress	N/A		235,749		276,054
			8,828,654		9,530,327
Less: accumulated depreciation and amortization			7,740,637		8,249,147
Equipment and leasehold improvements, net		$	1,088,017	$	1,281,180

Income Taxes (Table)

12 Months Ended

Jun. 30, 2022

Income Taxes [Abstract]

Components of Income Tax (Benefit) Provision


Year Ended June 30,	2022		2021
Current:
Federal	$	—	$	—
State		7,517		4,125
Deferred		—		—
Total income tax provision	$	7,517	$	4,125

Effective Income Tax Rate Reconciliation


Year Ended June 30,	2022		2021
Federal income tax liability at statutory rate	$	267,945	$	104,522
State income tax liability, net of federal income tax effect		5,938		3,259
Increase in valuation allowance		1,486,001		7,741,570
Stock option (deduction)		(1,966,822)		(8,326,662)
Non-deductible officers' compensation		127,612		657,464
All other permanent items		(50,573)		(172,863)
R&D credit		(34,936)		(30,000)
Return-to-provision		(38,863)		(3,303)
Expiration of stock options and tax credits		7,573		40,572
State tax rate change		157,716		(30,887)
Other		45,926		20,453
Total income tax provision	$	7,517	$	4,125

Schedule of Deferred Income Tax Assets and Liabilities


	2022		2021
Deferred income tax assets:
Deferred compensation	$	479,340	$	664,705
Stock-based compensation		107,499		116,582
Accrued expenses and reserves		551,562		543,940
Deferred revenue		176,447		222,341
Federal and state net operating loss carryforwards		9,942,511		8,333,391
Credit carryforwards		292,155		252,192
Equipment and leasehold improvements		122,764		57,639
Lease liability		803,603		580,053
Valuation allowance		(11,671,606)		(10,185,605)
Total deferred income tax assets		804,275		585,238

Deferred income tax liabilities:
ROU asset		(803,603)		(580,053)
Other		(672)		(5,185)
Net deferred income tax assets	$	-	$	-

Schedule of Change in Valuation Allowance


	Balance,		Decrease (Increase)
	beginning		in valuation		Balance,
Year Ended June 30,	of year		allowance		end of year
2022	$	(10,185,605)	$	(1,486,001)	$	(11,671,606)
2021	$	(2,444,035)	$	(7,741,570)	$	(10,185,605)

Accrued Liabilities (Table)

12 Months Ended

Jun. 30, 2022

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities


	2022		2021
Cooperative advertising and promotion allowances	$	200,175	$	201,006
Customer credit balances		30,515		1,008
Current deferred compensation		—		150,000
Employee benefits		75,101		83,463
Legal and professional fees		86,500		73,200
Bonus and profit-sharing		91,784		38,199
Sales commissions and bonuses		39,195		70,175
Other		37,086		48,516
Total accrued liabilities	$	560,356	$	665,567

Income Per Common and Common Stock Equivalent Sharee (Tables)

12 Months Ended

Jun. 30, 2022

Income Per Common and Common Stock Equivalent Share [Abstract]

Income Per Common and Common Stock Equivalent Share


		Year Ended
	2022		2021
Numerator
Net income	$	1,268,409	$	493,594

Denominator
Weighted average shares, basic		9,070,277		7,864,688
Dilutive effect of stock compensation awards (1)		915,385		1,774,585
Diluted shares		9,985,662		9,639,273

Net income attributable to common shareholders per share:
Basic	$	0.14	$	0.06
Diluted	$	0.13	$	0.05

(1) No stock options were anti-dilutive for the years ended June 20, 2022 and 2021.

Stock Options (Table)

12 Months Ended

Jun. 30, 2022

Stock Options [Abstract]

Stock Options, Assumptions


	2022	2021
Expected stock price volatility	n/a	77%
Risk free interest rate	n/a	0.34%
Expected dividend yield	n/a	—%
Expected life of options (years)	n/a	6.0

Stock Option Activity


							Aggregate
						Weighted	Intrinsic
				Weighted		Average	Value of
		Stock		Average		Remaining	In-The-
	Number of	Options		Exercise		Contractual	Money
	Shares	Price Range		Price		Life - Years	Options
Shares under option at June 30, 2020	2,721,875	$	1.77 - $6.00	$	2.73	4.82	$	—
Granted	615,000	$	1.73 - $2.11	$	1.84
Exercised	(1,203,875)	$	1.77 - $6.00	$	2.75
Expired	(385,000)	$	1.77 - $5.24	$	3.24
Forfeited	—		—		—
Shares under option at June 30, 2021	1,748,000	$	1.73 - $6.00	$	2.29	4.86	$	36,594,280
Granted	—	$	—	$	—
Exercised	(539,089)	$	1.73 - $6.00	$	2.58
Expired	—	$	—	$	—
Forfeited	(150,000)		1.73 - $2.65		2.00
Shares under option at June 30, 2022	1,058,911	$	1.73 - $2.92	$	2.18	3.72	$	5,055,797
Exercisable as of June 30, 2021	288,000	$	1.73 - $6.00	$	3.19	2.81	$	5,767,425
Exercisable as of June 30, 2022	264,577	$	1.73 - $2.92	$	2.45	2.06	$	1,180,591

Intrinsic Value


	2022		2021
Total intrinsic value of stock options exercised	$	9,032,778	$	31,877,285
Cash received from stock option exercises	$	1,390,346	$	3,306,272
Total fair value of stock options vested	$	620,018	$	550,093
Total recognized tax benefit	$	1,778,981	$	6,545,430

Nonvested Option Activity


		Weighted
		Average
		Grant Date
	Shares	Fair Value
Non-vested as of June 30, 2020	1,313,166	1.26
Granted	615,000	1.12
Vested	(468,166)	1.17
Forfeited	—	—
Non-vested as of June 30, 2021	1,460,000	1.23
Granted	—	—
Vested	(515,666)	1.20
Forfeited	(150,000)	1.38
Non-vested as of June 30, 2022	794,334	1.22

Leases (Table)

12 Months Ended

Jun. 30, 2022

Leases [Abstract]

Lease Expense


		Year Ended
	2022		2021
Operating lease cost	$	380,000	$	380,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(380,000)	$	(380,000)
Weighted-average remaining lease term (in years)		11		7
Weighted-average discount rate		5.25%		4.25%

Future Minimum Lease Payments


Year Ending June 30,
2023	$	380,000
2024		380,000
2025		380,000
2026		380,000
2027		380,000
Thereafter		2,365,000
Total lease payments		4,265,000
Present value adjustment		(1,017,275)
Total lease liabilities	$	3,247,725

Significant Accounting Policies (Narrative) (Details)			1 Months Ended		12 Months Ended
Significant Accounting Policies (Narrative) (Details)	Nov. 03, 2021 USD ($)	Nov. 03, 2020 USD ($)	Dec. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 USD ($)
Operating Loss Carryforwards [Line Items]
Other income - Net gain from life insurance benefits			$ 262,000		$ 262,391
Income Tax Expense (Benefit)					$ 7,517	$ 4,125
Number Of Subsidiaries \| item					2
Research and Development Expense					$ 285,244	410,602
Advertising Expense					50,513	33,976
Other income				$ 100,000	362,390	885,505
Legal Fees				$ 100,000
(Benefit) provision for deferred compensation					(160,120)	308,000
Deferred Compensation Arrangement with Individual, Distribution Paid					71,250	150,000
Deferred Compensation Arrangement with Individual, Compensation Expense					$ (472,883)
Koss Corp B.V. [Member]
Operating Loss Carryforwards [Line Items]
Ownership Percentage					100.00%
Koss UK [Member]
Operating Loss Carryforwards [Line Items]
Ownership Percentage					100.00%
Director [Member]
Operating Loss Carryforwards [Line Items]
Other income					$ 378,805
Former Officer [Member]
Operating Loss Carryforwards [Line Items]
Deferred Compensation Arrangement with Individual, Distribution Paid						$ 71,250
Deferred Compensation Arrangement with Individual, Compensation Expense					$ 472,883
SBA Loan [Member]
Operating Loss Carryforwards [Line Items]
Debt forgiven	$ 506,700	$ 506,700

Significant Accounting Policies (Narrative II) (Details)	Jun. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Operating Loss Carryforwards [Line Items]
Revenue, Remaining Performance Obligation, Percentage	50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Operating Loss Carryforwards [Line Items]
Revenue, Remaining Performance Obligation, Percentage	30.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Operating Loss Carryforwards [Line Items]
Revenue, Remaining Performance Obligation, Percentage	20.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years

Revenue Recognition (Narrative) (Details) - USD ($)	12 Months Ended
Revenue Recognition (Narrative) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Revenue recognized	$ 453,693	$ 325,962
Deferred revenue liability			$ 593,920
Minimum [Member]
Contract with Customer, Liability, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Maximum [Member]
Contract with Customer, Liability, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	3 years

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Net Sales	$ 17,607,267	$ 19,546,008
United States [Member]
Disaggregation of Revenue [Line Items]
Net Sales	13,034,647	14,298,358
Export [Member]
Disaggregation of Revenue [Line Items]
Net Sales	$ 4,572,620	$ 5,247,650

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Inventories (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Inventories [Abstract]
Raw materials	$ 2,217,621	$ 2,067,572
Finished goods	8,302,546	5,621,228
Inventories, gross	10,520,167	7,688,800
Reserve for obsolete inventory	(1,888,805)	(1,787,288)
Inventories, net	$ 8,631,362	$ 5,901,512

Equipment and Leasehold Improvements (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 8,828,654	$ 9,530,327
Less: accumulated depreciation and amortization	7,740,637	8,249,147
Equipment and leasehold improvements, net	1,088,017	1,281,180
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 601,315	593,595
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Furniture and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 337,419	357,351
Furniture and Office Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Furniture and Office Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Tooling [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Property, plant and equipment, gross	$ 4,506,044	4,407,535
Computer & Technology Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 197,073	821,371
Computer & Technology Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Computer & Technology Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,951,054	3,074,421
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Assets in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 235,749	$ 276,054

Income Taxes (Narrative) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Federal [Member]
Income Tax Disclosure [Line Items]
Operating loss carryforwards, subject to expiration	352,000
Operating loss carryforwards, not subject to expiration	38,202,000
Operating loss carryforwards	7,199,000
State and Local Jurisdiction [Member] \| Wisconsin Department of Revenue [Member]
Income Tax Disclosure [Line Items]
Operating loss carryforwards, subject to expiration	12,323,000
Operating loss carryforwards	1,144,000
State and Local Jurisdiction [Member] \| Other States [Member]
Income Tax Disclosure [Line Items]
Operating loss carryforwards, subject to expiration	17,961,000
Operating loss carryforwards	$ 3,536,000

Income Taxes (Components of Income Tax (Benefit) Provision) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Taxes [Abstract]
Current: State	$ 7,517	$ 4,125
Total income tax provision (benefit)	$ 7,517	$ 4,125

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Taxes [Abstract]
Federal income tax liability at statutory rate	$ 267,945	$ 104,522
State income tax liability, net of federal income tax effect	5,938	3,259
Increase in valuation allowance	1,486,001	7,741,570
Stock option (deduction)	(1,966,822)	(8,326,662)
Non-deductible officer's compensation	127,612	657,464
All other permanent items	(50,573)	(172,863)
R&D credit	(34,936)	(30,000)
Return-to-provision	(38,863)	(3,303)
Expiration of stock options and tax credits	7,573	40,572
State tax rate change	157,716	(30,887)
Other	45,926	20,453
Total income tax provision (benefit)	$ 7,517	$ 4,125

Income Taxes (Schedule of Deferred Income Tax Assets and Liabilities) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Taxes [Abstract]
Deferred compensation	$ 479,340	$ 664,705
Stock-based compensation	107,499	116,582
Accrued expenses and reserves	551,562	543,940
Deferred revenue	176,447	222,341
Federal and state net operating loss carryforwards	9,942,511	8,333,391
Credit carryforwards	292,155	252,192
Equipment and leasehold improvements	122,764	57,639
Lease liability	803,603	580,053
Valuation allowance	(11,671,606)	(10,185,605)	$ (2,444,035)
Total deferred income tax assets	804,275	585,238
ROU asset	(803,603)	(580,053)
Other	(672)	(5,185)
Net deferred income tax assets	$ 0	$ 0

Income Taxes (Schedule of Change in Valuation Allowance) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Taxes [Abstract]
Balance, beginning of year	$ (10,185,605)	$ (2,444,035)
Decrease (Increase) in valuation allowance	(1,486,001)	(7,741,570)
Balance, end of year	$ (11,671,606)	$ (10,185,605)

Credit Facility and SBA Loan (Details) - USD ($)			12 Months Ended
Credit Facility and SBA Loan (Details) - USD ($)	Nov. 03, 2021	Nov. 03, 2020	Jun. 30, 2022	Jun. 30, 2021
Line of Credit Facility [Line Items]
Interest Expense, Debt			$ 0	$ 0
SBA Loan [Member]
Line of Credit Facility [Line Items]
Debt forgiven	$ 506,700	$ 506,700
Town Bank [Member] \| Credit Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 5,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.00%
Long-term Line of Credit, Total			$ 0	$ 0
Town Bank [Member] \| Credit Agreement [Member] \| Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.50%
Town Bank [Member] \| Amended Credit Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,000,000
Town Bank [Member] \| Amended Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Prime Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.50%

Accrued Liabilities (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Accrued Liabilities [Abstract]
Cooperative advertising and promotion allowances	$ 200,175	$ 201,006
Customer credit balances	30,515	1,008
Current deferred compensation		150,000
Employee benefits	75,101	83,463
Legal and professional fees	86,500	73,200
Bonus and profit-sharing	91,784	38,199
Sales commissions and bonuses	39,195	70,175
Other	37,086	48,516
Total accrued liabilities	$ 560,356	$ 665,567

Deferred Compensation (Details) - USD ($)	12 Months Ended
Deferred Compensation (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Deferred compensation paid	$ 71,250	$ 150,000
Deferred compensation relieved	$ (472,883)
Former Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Life expectancy	19 years 8 months 12 days	21 years
Deferred compensation paid		$ 71,250
Deferred compensation recorded liability		$ 472,883
Deferred compensation relieved	$ 472,883
Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Discount factor	4.78%	3.29%
Deferred compensation recorded liability	$ 1,937,229	$ 2,168,599
Deferred compensation relieved	$ (231,370)	$ 102,000
Cash compensation, percentage of base salary	2.00%

Income Per Common and Common Stock Equivalent Share (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Per Common and Common Stock Equivalent Share [Abstract]
Net income	$ 1,268,409	$ 493,594
Weighted average shares, basic (in shares)	9,070,277	7,864,688
Dilutive effect of stock compensation awards (in shares)	915,385	1,774,585
Diluted shares (in shares)	9,985,662	9,639,273
Basic (in dollars per share)	$ 0.14	$ 0.06
Diluted (in dollars per share)	$ 0.13	$ 0.05

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stock Options (Narrative) (Details) - USD ($)	12 Months Ended
Stock Options (Narrative) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 553,237
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 11 months 26 days
Stock or Unit Option Plan Expense	$ 463,633	$ 619,137
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 1.12
The 2012 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	690,308
The 2012 Omnibus Incentive Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	5 years
The 2012 Omnibus Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years

Stock Options (Stock Options, Assumptions) (Details)	12 Months Ended
Stock Options (Stock Options, Assumptions) (Details)	Jun. 30, 2021
Stock Options [Abstract]
Expected stock price volatility	77.00%
Risk free interest rate	0.34%
Expected life of options (Year)	6 years

Stock Options (Stock Option Activity) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Stock Options [Abstract]
Shares under option, number of shares (in shares)	1,748,000	2,721,875
Granted, number of shares (in shares)		615,000
Exercised, number of shares (in shares)	(539,089)	(1,203,875)
Expired, number of shares (in shares)		(385,000)
Forfeited, number of shares (in shares)	(150,000)
Shares under option, number of shares (in shares)	1,058,911	1,748,000	2,721,875
Exercisable, number of shares (in shares)	264,577	288,000
Shares under option, stock options price range, lower limit (in dollars per share)	$ 1.73	$ 1.77
Shares under option, stock options price range, upper limit (in dollars per share)	6.00	6.00
Granted, stock options price range, lower limit (in dollars per share)		1.73
Granted, stock options price range, upper limit (in dollars per share)		2.11
Exercised, stock options price range, lower limit (in dollars per share)	1.73	1.77
Exercised, stock options price range, upper limit (in dollars per share)	6.00	6.00
Expired, stock options price range, lower limit (in dollars per share)		1.77
Expired, stock options price range, upper limit (in dollars per share)		5.24
Forfeited, stock options price range, lower limit (in dollars per share)	1.73
Forfeited, stock options price range, upper limit (in dollars per share)	2.65
Shares under option, stock options price range, lower limit (in dollars per share)	1.73	1.73	$ 1.77
Shares under option, stock options price range, upper limit (in dollars per share)	2.92	6.00	6.00
Exercisable, stock options price range, lower limit (in dollars per share)	1.73	1.73
Exercisable, stock options price range, upper limit (in dollars per share)	2.92	6.00
Shares under option, weighted average exercise price (in dollars per share)	2.29	2.73
Granted, weighted average exercise price (in dollars per share)		1.84
Exercised, weighted average exercise price (in dollars per share)	2.58	2.75
Expired, weighted average exercise price (in dollars per share)		3.24
Forfeited, weighted average exercise price (in dollars per share)	2.00
Shares under option, weighted average exercise price (in dollars per share)	2.18	2.29	$ 2.73
Exercisable, weighted average exercise price (in dollars per share)	$ 2.45	$ 3.19
Shares under option, weighted average remaining contractual life (Year)	3 years 8 months 19 days	4 years 10 months 9 days	4 years 9 months 25 days
Exercisable, weighted average remaining contractual life (Year)	2 years 21 days	2 years 9 months 21 days
Shares under option, aggregate intrinsic value of in-the-money options	$ 5,055,797	$ 36,594,280
Exercisable, aggregate intrinsic value of in-the-money options	$ 1,180,591	$ 5,767,425

Stock Options (Intrinsic Value) (Details) - USD ($)	12 Months Ended
Stock Options (Intrinsic Value) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Stock Options [Abstract]
Total intrinsic value of stock options exercised	$ 9,032,778	$ 31,877,285
Cash received from stock option exercises	1,390,346	3,306,272
Total fair value of stock options vested	620,018	550,093
Total recognized tax benefit	$ 1,778,981	$ 6,545,430

Stock Options (Nonvested Option Activity) (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Stock Options [Abstract]
Non-vested (in shares)	1,460,000	1,313,166
Granted (in shares)		615,000
Vested (in shares)	(515,666)	(468,166)
Forfeited (in shares)	(150,000)
Non-vested (in shares)	794,334	1,460,000
Non-vested, weighted average grant date fair value (in dollars per share)	$ 1.23	$ 1.26
Granted, weighted average grant date fair value (in dollars per share)		1.12
Vested, weighted average grant date fair value (in dollars per share)	1.20	1.17
Forfeited, weighted average grant date fair value (in dollars per share)	1.38
Non-vested, weighted average grant date fair value (in dollars per share)	$ 1.22	$ 1.23

Stock Repurchase Program (Details) - USD ($)	12 Months Ended
Stock Repurchase Program (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
1995 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 2,000,000
2021 Stock Repurchase Program B [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	45,500,000
Stock Repurchase Program, Additional Authorized Amount	$ 43,360,247
Stock Repurchased and Retired During Period, Shares (in shares)	0	0
Estate of Former Chairman [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 2,000,000

Leases (Narrative) (Details)	12 Months Ended
Leases (Narrative) (Details)	Jun. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lease Extension Per Year	$ 380,000
Lessee, Operating Lease, Renewal Term (Year)	5 years
Additional Renewal [Member]
Lessee, Lease, Description [Line Items]
Lease Extension Per Year	$ 397,000

Leases (Lease Expense) (Details) - USD ($)	12 Months Ended
Leases (Lease Expense) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 380,000	$ 380,000
Operating cash flows from operating leases	$ (380,000)	$ (380,000)
Weighted-average remaining lease term (in years)	11 years	7 years
Weighted-average discount rate	5.25%	4.25%

Leases (Future Minimum Lease Payments) (Details)	Jun. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 380,000
2024	380,000
2025	380,000
2026	380,000
2027	380,000
Thereafter	2,365,000
Total lease payments	4,265,000
Present value adjustment	(1,017,275)
Total lease liabilities	$ 3,247,725

Employee Benefit Plans (Details) - USD ($)	12 Months Ended
Employee Benefit Plans (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Employee Benefit Plans [Abstract]
Matching contributions, percent	25.00%
Company contributions	$ 89,314	$ 79,481

Concentrations (Details)	12 Months Ended
Concentrations (Details)	Jun. 30, 2022 item customer	Jun. 30, 2021 item
Customer Concentration Risk [Member] \| Trade Accounts Receivable [Member] \| Amazon [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	18.00%	19.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Number Of Major Customers \| customer	2
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Ingram Micro [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	19.00%	24.00%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Ingram Micro [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	13.00%	3.00%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Wal-Mart [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	18.00%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Five Largest Clients [Member]
Concentration Risk [Line Items]
Number of Major Vendors \| item	5	5
Concentration Risk, Percentage	45.00%	48.00%
Geographic Concentration Risk [Member] \| Trade Accounts Receivable [Member] \| Foreign [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	4.00%	6.00%
Geographic Concentration Risk [Member] \| Manufacturing Costs Benchmark [Member] \| China [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	59.00%	52.00%

Legal Matters (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Loss Contingencies [Line Items]
Accrual	$ 41,000	$ 41,000
Minimum [Member]
Loss Contingencies [Line Items]
Estimate of loss	41,000
Maximum [Member]
Loss Contingencies [Line Items]
Estimate of loss	$ 140,000

Subsequent Events (Details) - USD ($)	1 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($)	Jul. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Income from operations		$ 902,023	$ (390,492)
Subsequent Event [Member] \| License Agreements [Member]
Subsequent Event [Line Items]
Income from operations	$ 12,000,000