We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Koss Corporation | NASDAQ:KOSS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.18 | -5.33% | 3.20 | 3.23 | 3.48 | 3.5999 | 3.21 | 3.38 | 306,494 | 00:33:22 |
DELAWARE
|
|
39-1168275
|
(State or other jurisdiction of
|
|
(I.R.S. Employer Identification No.)
|
incorporation or organization)
|
|
|
4129 North Port Washington Avenue, Milwaukee, Wisconsin
|
|
53212
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Large accelerated filer
o
|
|
Accelerated filer
o
|
|
|
|
Non-accelerated filer
o
|
|
Smaller reporting company
þ
|
(Do not check if a smaller reporting company)
|
|
|
|
|
Emerging growth company
o
|
Title of each class
|
|
Trading Symbol(s)
|
|
Name of each exchange on which registered
|
Common
|
|
KOSS
|
|
NASDAQ
|
|
|
|
Page
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
1
|
|
||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
Item 1.
|
Financial Statements
|
|
|
(Unaudited)
|
|
|
||||
|
|
March 31, 2019
|
|
June 30, 2018*
|
||||
ASSETS
|
|
|
|
|
|
|
||
Current assets:
|
|
|
|
|
|
|
||
Cash and cash equivalents
|
|
$
|
2,722,895
|
|
|
$
|
1,081,533
|
|
Accounts receivable, less allowance for doubtful accounts of $3,235 and
$51,854, respectively |
|
2,812,147
|
|
|
4,709,745
|
|
||
Inventories, net
|
|
6,729,666
|
|
|
6,138,679
|
|
||
Prepaid expenses and other current assets
|
|
275,315
|
|
|
206,776
|
|
||
Income taxes receivable
|
|
42,151
|
|
|
32,375
|
|
||
Total current assets
|
|
12,582,174
|
|
|
12,169,108
|
|
||
|
|
|
|
|
||||
Equipment and leasehold improvements, net
|
|
913,806
|
|
|
1,132,105
|
|
||
|
|
|
|
|
||||
Other assets:
|
|
|
|
|
||||
Deferred income taxes
|
|
13,277
|
|
|
—
|
|
||
Operating lease right-of-use asset
|
|
2,912,466
|
|
|
3,102,263
|
|
||
Cash surrender value of life insurance
|
|
6,532,249
|
|
|
6,374,372
|
|
||
Total other assets
|
|
9,457,992
|
|
|
9,476,635
|
|
||
|
|
|
|
|
||||
Total assets
|
|
$
|
22,953,972
|
|
|
$
|
22,777,848
|
|
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
||
Current liabilities:
|
|
|
|
|
|
|
||
Accounts payable
|
|
$
|
1,207,199
|
|
|
$
|
1,429,491
|
|
Accrued liabilities
|
|
741,126
|
|
|
788,961
|
|
||
Deferred revenue
|
|
606,466
|
|
|
690,905
|
|
||
Operating lease liability
|
|
262,643
|
|
|
254,418
|
|
||
Total current liabilities
|
|
2,817,434
|
|
|
3,163,775
|
|
||
|
|
|
|
|
||||
Long-term liabilities:
|
|
|
|
|
|
|
||
Deferred compensation
|
|
2,413,474
|
|
|
2,394,009
|
|
||
Deferred revenue
|
|
156,786
|
|
|
168,465
|
|
||
Operating lease liability
|
|
2,649,823
|
|
|
2,847,845
|
|
||
Total long-term liabilities
|
|
5,220,083
|
|
|
5,410,319
|
|
||
|
|
|
|
|
||||
Total liabilities
|
|
8,037,517
|
|
|
8,574,094
|
|
||
|
|
|
|
|
||||
Stockholders' equity:
|
|
|
|
|
|
|
||
Common stock, $0.005 par value, authorized 20,000,000 shares; issued
and outstanding 7,404,831 and 7,382,706 shares, respectively |
|
37,024
|
|
|
36,914
|
|
||
Paid in capital
|
|
6,091,023
|
|
|
5,752,270
|
|
||
Retained earnings
|
|
8,788,408
|
|
|
8,414,570
|
|
||
Total stockholders' equity
|
|
14,916,455
|
|
|
14,203,754
|
|
||
|
|
|
|
|
||||
Total liabilities and stockholders' equity
|
|
$
|
22,953,972
|
|
|
$
|
22,777,848
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
March 31
|
|
March 31
|
||||||||||||
|
|
2019
|
|
2018*
|
|
2019
|
|
2018*
|
||||||||
Net sales
|
|
$
|
4,860,247
|
|
|
$
|
4,390,454
|
|
|
$
|
16,056,313
|
|
|
$
|
16,365,370
|
|
Cost of goods sold
|
|
3,205,039
|
|
|
3,377,035
|
|
|
10,907,425
|
|
|
11,791,297
|
|
||||
Gross profit
|
|
1,655,208
|
|
|
1,013,419
|
|
|
5,148,888
|
|
|
4,574,073
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Selling, general and administrative expenses
|
|
1,505,922
|
|
|
1,771,295
|
|
|
4,798,045
|
|
|
5,203,125
|
|
||||
Interest expense
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,218
|
|
||||
Income (loss) before income tax provision
|
|
149,286
|
|
|
(757,876
|
)
|
|
350,843
|
|
|
(634,270
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Income tax provision
|
|
(23,020
|
)
|
|
4,274
|
|
|
(22,995
|
)
|
|
3,047,356
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss)
|
|
$
|
172,306
|
|
|
$
|
(762,150
|
)
|
|
$
|
373,838
|
|
|
$
|
(3,681,626
|
)
|
|
|
|
|
|
|
|
|
|
||||||||
Income (loss) per common share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
0.02
|
|
|
$
|
(0.10
|
)
|
|
$
|
0.05
|
|
|
$
|
(0.50
|
)
|
Diluted
|
|
$
|
0.02
|
|
|
$
|
(0.10
|
)
|
|
$
|
0.05
|
|
|
$
|
(0.50
|
)
|
Weighted-average number of shares
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
7,404,831
|
|
|
7,382,706
|
|
|
7,399,768
|
|
|
7,382,706
|
|
||||
Diluted
|
|
7,405,425
|
|
|
7,382,706
|
|
|
7,408,110
|
|
|
7,382,706
|
|
|
|
Nine Months Ended
|
||||||
|
|
March 31
|
||||||
|
|
2019
|
|
2018*
|
||||
Operating activities:
|
|
|
|
|
|
|
||
Net income (loss)
|
|
$
|
373,838
|
|
|
$
|
(3,681,626
|
)
|
Adjustments to reconcile net income to net cash provided by
operating activities: |
|
|
|
|
||||
Provision for (recovery of) doubtful accounts
|
|
4,039
|
|
|
2,626
|
|
||
Loss on disposal of equipment and leasehold improvements
|
|
—
|
|
|
343
|
|
||
Depreciation of equipment and leasehold improvements
|
|
336,946
|
|
|
385,221
|
|
||
Stock-based compensation expense
|
|
292,186
|
|
|
248,624
|
|
||
Deferred income taxes
|
|
(13,277
|
)
|
|
3,041,405
|
|
||
Change in cash surrender value of life insurance
|
|
(34,801
|
)
|
|
(181,403
|
)
|
||
Change in deferred revenue
|
|
(96,118
|
)
|
|
(109,158
|
)
|
||
Change in deferred compensation accrual
|
|
131,965
|
|
|
137,718
|
|
||
Deferred compensation paid
|
|
(112,500
|
)
|
|
(112,500
|
)
|
||
Net changes in operating assets and liabilities (see note 9)
|
|
954,130
|
|
|
1,788,052
|
|
||
Cash provided by operating activities
|
|
1,836,408
|
|
|
1,519,302
|
|
||
|
|
|
|
|
||||
Investing activities:
|
|
|
|
|
|
|
||
Purchase of equipment and leasehold improvements
|
|
(118,647
|
)
|
|
(250,618
|
)
|
||
Life insurance premiums paid
|
|
(123,076
|
)
|
|
(131,058
|
)
|
||
Cash used in investing activities
|
|
(241,723
|
)
|
|
(381,676
|
)
|
||
|
|
|
|
|
||||
Financing activities:
|
|
|
|
|
|
|
||
Proceeds from exercise of stock options
|
|
46,677
|
|
|
—
|
|
||
Cash provided by financing activities
|
|
46,677
|
|
|
—
|
|
||
|
|
|
|
|
||||
Net increase in cash and cash equivalents
|
|
1,641,362
|
|
|
1,137,626
|
|
||
Cash and cash equivalents at beginning of period
|
|
1,081,533
|
|
|
432,283
|
|
||
Cash and cash equivalents at end of period
|
|
$
|
2,722,895
|
|
|
$
|
1,569,909
|
|
|
|
Nine Months Ended March 31, 2019
|
|||||||||||||||||
|
|
Common Stock
|
|
Paid in
|
|
Retained
|
|
|
|||||||||||
|
|
Shares
|
|
Amount
|
|
Capital
|
|
Earnings
|
|
Total
|
|||||||||
Balance, June 30, 2018*
|
|
7,382,706
|
|
|
$
|
36,914
|
|
|
$
|
5,752,270
|
|
|
$
|
8,414,570
|
|
|
$
|
14,203,754
|
|
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
373,838
|
|
|
373,838
|
|
||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
292,186
|
|
|
—
|
|
|
292,186
|
|
||||
Exercise of common stock options
|
|
22,125
|
|
|
110
|
|
|
46,567
|
|
|
—
|
|
|
46,677
|
|
||||
Balance, March 31, 2019
|
|
7,404,831
|
|
|
$
|
37,024
|
|
|
$
|
6,091,023
|
|
|
$
|
8,788,408
|
|
|
$
|
14,916,455
|
|
|
|
Three Months Ended March 31, 2019
|
|||||||||||||||||
|
|
Common Stock
|
|
Paid in
|
|
Retained
|
|
|
|||||||||||
|
|
Shares
|
|
Amount
|
|
Capital
|
|
Earnings
|
|
Total
|
|||||||||
Balance, December 31, 2018
|
|
7,404,831
|
|
|
$
|
37,024
|
|
|
$
|
5,993,193
|
|
|
$
|
8,616,102
|
|
|
$
|
14,646,319
|
|
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
172,306
|
|
|
172,306
|
|
||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
97,830
|
|
|
—
|
|
|
97,830
|
|
||||
Balance, March 31, 2019
|
|
7,404,831
|
|
|
$
|
37,024
|
|
|
$
|
6,091,023
|
|
|
$
|
8,788,408
|
|
|
$
|
14,916,455
|
|
|
|
|
|
New
|
|
|
||||||
|
|
As
|
|
Revenue
|
|
|
||||||
Balance Sheets
|
|
Previously
|
|
Standard
|
|
As
|
||||||
June 30, 2018
|
|
Reported
|
|
Adjustment
|
|
Adjusted
|
||||||
Current liabilities:
|
|
|
|
|
|
|
||||||
Accrued liabilities
|
|
$
|
1,178,571
|
|
|
$
|
(389,610
|
)
|
|
$
|
788,961
|
|
Deferred revenue
|
|
—
|
|
|
690,905
|
|
|
690,905
|
|
|||
|
|
|
|
|
|
|
||||||
Long-term liabilities:
|
|
|
|
|
|
|
||||||
Other liabilities
|
|
155,702
|
|
|
(155,702
|
)
|
|
—
|
|
|||
Deferred revenue
|
|
—
|
|
|
168,465
|
|
|
168,465
|
|
|||
|
|
|
|
|
|
|
||||||
Equity:
|
|
|
|
|
|
|
||||||
Retained earnings
|
|
8,728,628
|
|
|
(314,058
|
)
|
|
8,414,570
|
|
|
|
|
|
New
|
|
|
||||||
|
|
As
|
|
Revenue
|
|
|
||||||
Statements of Income
|
|
Previously
|
|
Standard
|
|
As
|
||||||
Three Months Ended March 31, 2018
|
|
Reported
|
|
Adjustment
|
|
Adjusted
|
||||||
Net sales
|
|
$
|
4,326,674
|
|
|
$
|
63,780
|
|
|
$
|
4,390,454
|
|
Cost of goods sold
|
|
3,363,121
|
|
|
13,914
|
|
|
3,377,035
|
|
|||
Income tax provision
|
|
5,126
|
|
|
(852
|
)
|
|
4,274
|
|
|||
Net (loss)
|
|
(812,868
|
)
|
|
50,718
|
|
|
(762,150
|
)
|
|||
|
|
|
|
|
|
|
||||||
(Loss) per common share:
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
(0.11
|
)
|
|
$
|
0.01
|
|
|
$
|
(0.10
|
)
|
Diluted
|
|
(0.11
|
)
|
|
0.01
|
|
|
(0.10
|
)
|
|
|
|
|
New
|
|
|
||||||
|
|
As
|
|
Revenue
|
|
|
||||||
Statements of Income
|
|
Previously
|
|
Standard
|
|
As
|
||||||
Nine Months Ended March 31, 2018
|
|
Reported
|
|
Adjustment
|
|
Adjusted
|
||||||
Net sales
|
|
$
|
16,277,181
|
|
|
$
|
88,189
|
|
|
$
|
16,365,370
|
|
Cost of goods sold
|
|
11,753,719
|
|
|
37,578
|
|
|
11,791,297
|
|
|||
Income tax provision
|
|
3,048,208
|
|
|
(852
|
)
|
|
3,047,356
|
|
|||
Net (loss)
|
|
(3,733,089
|
)
|
|
51,463
|
|
|
(3,681,626
|
)
|
|||
|
|
|
|
|
|
|
||||||
(Loss) per common share:
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
(0.51
|
)
|
|
$
|
0.01
|
|
|
$
|
(0.50
|
)
|
Diluted
|
|
(0.51
|
)
|
|
0.01
|
|
|
(0.50
|
)
|
Balance Sheets
|
|
As
|
||
June 30, 2018
|
|
Adjusted
|
||
Assets:
|
|
|
||
Operating lease right-of-use asset
|
|
$
|
3,102,263
|
|
|
|
|
||
Current liabilities:
|
|
|
||
Operating lease liability
|
|
254,418
|
|
|
|
|
|
||
Long-term liabilities:
|
|
|
||
Operating lease liability
|
|
2,847,845
|
|
|
|
March 31, 2019
|
|
June 30, 2018*
|
||||
Raw materials
|
|
$
|
2,676,550
|
|
|
$
|
2,717,862
|
|
Finished goods
|
|
6,463,112
|
|
|
6,057,703
|
|
||
|
|
9,139,662
|
|
|
8,775,565
|
|
||
Allowance for obsolete inventory
|
|
(2,409,996
|
)
|
|
(2,636,886
|
)
|
||
Inventories, net
|
|
$
|
6,729,666
|
|
|
$
|
6,138,679
|
|
|
|
March 31, 2019
|
|
June 30, 2018*
|
||||
Cooperative advertising and promotion allowances
|
|
$
|
190,923
|
|
|
$
|
292,873
|
|
Customer credit balances
|
|
126,663
|
|
|
53,365
|
|
||
Current deferred compensation
|
|
150,000
|
|
|
150,000
|
|
||
Employee benefits
|
|
59,708
|
|
|
60,739
|
|
||
Legal and professional fees
|
|
90,300
|
|
|
81,000
|
|
||
Profit-sharing
|
|
21,578
|
|
|
17,975
|
|
||
Sales commissions and bonuses
|
|
64,342
|
|
|
74,078
|
|
||
Other
|
|
37,612
|
|
|
58,931
|
|
||
Total accrued liabilities
|
|
$
|
741,126
|
|
|
$
|
788,961
|
|
|
|
Nine Months Ended
|
||||||
|
|
March 31
|
||||||
|
|
2019
|
|
2018*
|
||||
Accounts receivable
|
|
$
|
1,893,559
|
|
|
$
|
919,927
|
|
Inventories
|
|
(590,987
|
)
|
|
1,988,887
|
|
||
Prepaid expenses and other current assets
|
|
(68,539
|
)
|
|
(123,671
|
)
|
||
Income taxes receivable
|
|
(9,776
|
)
|
|
5,951
|
|
||
Accounts payable
|
|
(222,292
|
)
|
|
(1,414,569
|
)
|
||
Accrued liabilities
|
|
(47,835
|
)
|
|
411,527
|
|
||
Net change
|
|
$
|
954,130
|
|
|
$
|
1,788,052
|
|
|
|
|
|
|
||||
Net cash paid during the period for:
|
|
|
|
|
|
|
||
Income taxes
|
|
$
|
1,678
|
|
|
$
|
3,182
|
|
Interest
|
|
$
|
—
|
|
|
$
|
5,218
|
|
|
|
Beginning
Balance |
|
Deferral
of Revenue |
|
Recognition
of Deferred Revenue |
|
Ending
Balance |
||||||||
Nine Months Ended March 31, 2019
|
|
$
|
859,370
|
|
|
$
|
368,087
|
|
|
$
|
(464,205
|
)
|
|
$
|
763,252
|
|
|
|
Nine Months Ended
|
||||||
|
|
March 31
|
||||||
|
|
2019
|
|
2018
|
||||
Operating lease cost
|
|
$
|
285,000
|
|
|
$
|
285,000
|
|
Cash paid for amounts included in the measurement of lease liabilities:
|
|
|
|
|
||||
Operating cash flows from operating leases
|
|
$
|
285,000
|
|
|
$
|
285,000
|
|
Weighted-average remaining lease term (in years)
|
|
9.25
|
|
|
10.25
|
|
||
Weighted-average discount rate
|
|
4.25
|
%
|
|
4.25
|
%
|
Year ending June 30,
|
|
|
||
2019 (excluding the nine months ended March 31, 2019)
|
|
$
|
95,000
|
|
2020
|
|
380,000
|
|
|
2021
|
|
380,000
|
|
|
2022
|
|
380,000
|
|
|
2023
|
|
380,000
|
|
|
Thereafter
|
|
1,900,000
|
|
|
Total lease payments
|
|
3,515,000
|
|
|
Present value adjustment
|
|
(602,534
|
)
|
|
Total lease liabilities
|
|
$
|
2,912,466
|
|
•
|
On or around July 13, 2018, the Company was served with a lawsuit by a former celebrity endorser of certain products alleging that the Company used her name and image to market and sell the products after the termination of their agreement without her consent. This case remains pending. The ultimate resolution of this matter is not determinable at this time.
|
•
|
The Company has launched a program focused on enforcing its intellectual property and, in particular, certain of its patent portfolio. The Company has incurred costs and will continue to incur costs related to enforcing this program. These costs primarily relate to legal fees and other costs involved with the underlying efforts to enforce this portfolio. Depending on the response to and the underlying results of the enforcement program, the Company may enter into licensing arrangements or initiate lawsuits as part of the Company’s efforts to enforce this program.
|
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
•
|
Net sales for the quarter ended
March 31, 2019
, increased
$469,793
to
$4,860,247
, compared to the same quarter last year. Sales increased in both foreign and domestic markets for the quarter.
|
•
|
For the
nine months ended March 31, 2019
, net sales decreased
$309,057
to
$16,056,313
. A decline in sales to domestic mass retail customers and distributors drove the decrease in net sales. Increased sales to foreign distributors partially offset the decline in domestic sales.
|
•
|
Gross profit as a percent of net sales increased for the three and
nine months ended March 31, 2019
. Gross profit fluctuations were primarily driven by change in the mix of business by product, customer and sales channel.
|
•
|
Selling, general and administrative expenses for the
three and nine months ended March 31, 2019
, decreased compared to the same period in the prior year primarily due to a decrease in employee benefit costs, sales commissions, engineering testing costs, and professional fees. For the
nine months ended March 31, 2019
, cash surrender value income was less than the prior year.
|
•
|
Tax expense for the
three and nine months ended March 31, 2019
was minimal due to an offsetting change in the valuation allowance for deferred tax assets. During the
three and nine months ended March 31, 2019
, the tax credit is due to refund of AMT carry forward not utilized in prior periods.
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
March 31
|
|
March 31
|
||||||||||||
Financial Performance Summary
|
|
2019
|
|
2018*
|
|
2019
|
|
2018*
|
||||||||
Net sales
|
|
$
|
4,860,247
|
|
|
$
|
4,390,454
|
|
|
$
|
16,056,313
|
|
|
$
|
16,365,370
|
|
Net sales (decrease) increase %
|
|
10.7
|
%
|
|
(8.0
|
)%
|
|
(1.9
|
)%
|
|
(8.1
|
)%
|
||||
Gross profit
|
|
$
|
1,655,208
|
|
|
$
|
1,013,419
|
|
|
$
|
5,148,888
|
|
|
$
|
4,574,073
|
|
Gross profit as % of net sales
|
|
34.1
|
%
|
|
23.1
|
%
|
|
32.1
|
%
|
|
27.9
|
%
|
||||
Selling, general and administrative expenses
|
|
$
|
1,505,922
|
|
|
$
|
1,771,295
|
|
|
$
|
4,798,045
|
|
|
$
|
5,203,125
|
|
Selling, general and administrative expenses as % of net sales
|
|
31.0
|
%
|
|
40.3
|
%
|
|
29.9
|
%
|
|
31.8
|
%
|
||||
Interest expense
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,218
|
|
Income (loss) before income tax provision
|
|
$
|
149,286
|
|
|
$
|
(757,876
|
)
|
|
$
|
350,843
|
|
|
$
|
(634,270
|
)
|
Income before income tax as % of net sales
|
|
3.1
|
%
|
|
(17.3
|
)%
|
|
2.2
|
%
|
|
(3.9
|
)%
|
||||
Income tax provision
|
|
$
|
(23,020
|
)
|
|
$
|
4,274
|
|
|
$
|
(22,995
|
)
|
|
$
|
3,047,356
|
|
Income tax provision as % of income before income tax
|
|
(15.4
|
)%
|
|
(0.6
|
)%
|
|
(6.6
|
)%
|
|
(480.5
|
)%
|
Total cash provided by (used in):
|
|
2019
|
|
2018*
|
||||
Operating activities
|
|
$
|
1,836,408
|
|
|
$
|
1,519,302
|
|
Investing activities
|
|
(241,723
|
)
|
|
(381,676
|
)
|
||
Financing activities
|
|
46,677
|
|
|
—
|
|
||
Net increase in cash and cash equivalents
|
|
$
|
1,641,362
|
|
|
$
|
1,137,626
|
|
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
Period (2019)
|
|
Total # of
Shares
Purchased
|
|
Average
Price Paid
per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plan (1)
|
|
Approximate Dollar Value of Shares Available under Repurchase Plan
|
||||||
January 1 - March 31
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
2,139,753
|
|
Item 3.
|
Defaults Upon Senior Securities
|
Item 4.
|
Mine Safety Disclosures
|
Item 5.
|
Other Information
|
Item 6.
|
Exhibits
|
Exhibit No.
|
Exhibit Description
|
|
|
31.1
|
|
|
|
31.2
|
|
|
|
32.1
|
|
|
|
32.2
|
|
|
|
101
|
The following financial information from Koss Corporation's Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets as of March 31, 2019 and June 30, 2018, (ii) Condensed Consolidated Statements of Income (Unaudited) for the three and nine months ended March 31, 2019 and 2018 (iii) Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended March 31, 2019 and 2018 and (iv) the Notes to Condensed Consolidated Financial Statements (Unaudited). *
|
*
|
Filed herewith
|
**
|
Furnished herewith
|
KOSS CORPORATION
|
|
|
|
|
|
|
|
|
/s/ Michael J. Koss
|
|
May 10, 2019
|
Michael J. Koss
|
|
|
Chairman
|
|
|
Chief Executive Officer
|
|
|
|
|
|
|
|
|
/s/ David D. Smith
|
|
May 10, 2019
|
David D. Smith
|
|
|
Chief Financial Officer
|
|
|
Principal Accounting Officer
|
|
|
|
|
|
|
|
1 Year Koss Chart |
1 Month Koss Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions