Koss (KOSS) 10-Q 8 May 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2020	May 04, 2020
Document Information [Line Items]
Entity Registrant Name	KOSS CORP
Entity Central Index Key	0000056701
Trading Symbol	koss
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		7,404,831
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Title of 12(b) Security	Common

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2020	Jun. 30, 2019	[1]
Current assets:
Cash and cash equivalents	$ 2,063,963	$ 2,228,282
Accounts receivable, less allowance for doubtful accounts of $8,758 and $2,617, respectively	3,553,376	3,655,143
Inventories, net	4,991,561	6,851,448
Prepaid expenses and other current assets	388,501	133,889
Income taxes receivable	10,234	45,660
Total current assets	11,007,635	12,914,422
Equipment and leasehold improvements, net	1,022,860	890,110
Other assets:
Deferred income taxes		13,276
Operating lease right-of-use assets	2,649,823	2,847,846
Cash surrender value of life insurance	6,838,982	6,569,628
Total other assets	9,488,805	9,430,750
Total assets	21,519,300	23,235,282
Current liabilities:
Accounts payable	409,081	1,436,373
Accrued liabilities	634,897	650,513
Deferred revenue	439,302	645,470
Operating lease liability	274,025	265,443
Total current liabilities	1,757,305	2,997,799
Long-term liabilities:
Deferred compensation	2,344,478	2,419,962
Deferred revenue	165,226	163,018
Operating lease liability	2,375,797	2,582,402
Total long-term liabilities	4,885,501	5,165,382
Total liabilities	6,642,806	8,163,181
Stockholders' equity:
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 7,404,831	37,024	37,024
Paid in capital	6,761,363	6,333,135
Retained earnings	8,078,107	8,701,942
Total stockholders' equity	14,876,494	15,072,101
Total liabilities and stockholders' equity	$ 21,519,300	$ 23,235,282
[1]	As adjusted for change in accounting principle (Note 2)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2020	Jun. 30, 2019	[1]
Accounts receivable, allowance for doubtful accounts	$ 8,758	$ 2,617
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)	7,404,831	7,404,831
Common stock, shares outstanding (in shares)	7,404,831	7,404,831
[1]	As adjusted for change in accounting principle (Note 2)

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	[1]	Mar. 31, 2020	Mar. 31, 2019	[1]
Net sales	$ 4,789,441	$ 4,860,247		$ 14,362,862	$ 16,056,313
Cost of goods sold	3,199,665	3,205,039		10,061,544	10,907,425
Gross profit	1,589,776	1,655,208		4,301,318	5,148,888
Selling, general and administrative expenses	1,687,676	1,540,348		4,938,983	4,889,284
(Loss) income from operations	(97,900)	114,860		(637,665)	259,604
Interest income	6,631			19,955
(Loss) income before income tax provision	(91,269)	114,860		(617,710)	259,604
Income tax provision	6,104	(23,020)		6,125	(22,995)
Net (loss) income	$ (97,373)	$ 137,880	[2]	$ (623,835)	$ 282,599	[2],[3]
(Loss) income per common share:
Basic (in dollars per share)	$ (0.01)	$ 0.02	[2]	$ (0.08)	$ 0.04	[2]
Diluted (in dollars per share)	$ (0.01)	$ 0.02	[2]	$ (0.08)	$ 0.04	[2]
Weighted-average number of shares:
Basic (in shares)	7,404,831	7,404,831	[2]	7,404,831	7,399,768	[2]
Diluted (in shares)	7,404,831	7,405,425	[2]	7,404,831	7,408,110	[2]
[1]	As adjusted for change in accounting principle (Note 2)
[2]	As adjusted for change in accounting principle (Note 2)
[3]	As adjusted for change in accounting principle (Note 2)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2020		Mar. 31, 2019	[1]
Operating activities:
Net (loss) income	$ (623,835)		$ 282,599	[2],[3]
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
(Recovery of) provision for doubtful accounts	(8,938)		4,039
Depreciation of equipment and leasehold improvements	258,401		336,946
Stock-based compensation expense	428,228		383,425
Deferred income taxes	13,276		(13,277)
Change in cash surrender value of life insurance	(156,398)		(34,801)
Change in deferred compensation accrual	37,016		131,965
Deferred compensation paid	(112,500)		(112,500)
Net changes in operating assets and liabilities:
Accounts receivable	110,705		1,893,559
Inventories	1,859,887		(590,987)
Prepaid expenses and other current assets	(254,612)		(68,539)
Income taxes receivable	35,426		(9,776)
Accounts payable	(1,027,292)		(222,292)
Accrued liabilities	(15,616)		(47,835)
Deferred revenue	(203,960)		(96,118)
Net cash provided by operating activities	339,788		1,836,408
Investing activities:
Purchase of equipment and leasehold improvements	(391,151)		(118,647)
Life insurance premiums paid	(112,956)		(123,076)
Net cash (used in) investing activities	(504,107)		(241,723)
Financing activities:
Proceeds from exercise of stock options			46,677
Net cash provided by financing activities			46,677
Net (decrease) increase in cash and cash equivalents	(164,319)		1,641,362
Cash and cash equivalents at beginning of period	2,228,282	[4]	1,081,533
Cash and cash equivalents at end of period	$ 2,063,963		$ 2,722,895
[1]	As adjusted for change in accounting principle (Note 2)
[2]	As adjusted for change in accounting principle (Note 2)
[3]	As adjusted for change in accounting principle (Note 2)
[4]	As adjusted for change in accounting principle (Note 2)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance, as originally stated (in shares) at Jun. 30, 2018									7,382,706
Balance at Jun. 30, 2018		$ 18,617	$ (18,617)		$ 36,914	$ 5,770,887	$ 8,395,953	$ 14,203,754	$ 36,914	$ 5,752,270	$ 8,414,570	$ 14,203,754
Net (loss) income											282,599	282,599	[1],[2],[3]
Stock-based compensation expense										383,425		383,425
Balance (in shares) at Mar. 31, 2019									7,404,831
Balance at Mar. 31, 2019									$ 37,024	6,200,879	8,678,552	14,916,455
Exercise of common stock options (in shares)									22,125
Exercise of common stock options									$ 110	46,567		46,677
Stock-based compensation expense, as restated										383,425		383,425
Balance, as originally stated (in shares) at Dec. 31, 2018									7,404,831
Balance at Dec. 31, 2018									$ 37,024	6,068,623	8,540,672	14,646,319
Net (loss) income											137,880	137,880	[2],[3]
Stock-based compensation expense										132,256		132,256
Balance (in shares) at Mar. 31, 2019									7,404,831
Balance at Mar. 31, 2019									$ 37,024	6,200,879	8,678,552	14,916,455
Stock-based compensation expense, as restated										132,256		$ 132,256
Balance, as originally stated (in shares) at Jun. 30, 2019									7,404,831			7,404,831	[4]
Balance at Jun. 30, 2019		$ 146,742	$ (146,742)		$ 37,024	$ 6,333,135	$ 8,701,942	$ 15,072,101	$ 37,024	6,186,393	8,848,684	$ 15,072,101	[5]
Net (loss) income											(623,835)	(623,835)
Stock-based compensation expense										428,228		$ 428,228
Balance (in shares) at Mar. 31, 2020									7,404,831			7,404,831
Balance at Mar. 31, 2020									$ 37,024	6,761,363	8,078,107	$ 14,876,494
Stock-based compensation expense, as restated										428,228		428,228
Balance, as originally stated (in shares) at Dec. 31, 2019									7,404,831
Balance at Dec. 31, 2019									$ 37,024	6,618,029	8,175,480	14,830,533
Net (loss) income											(97,373)	(97,373)
Stock-based compensation expense										143,334		$ 143,334
Balance (in shares) at Mar. 31, 2020									7,404,831			7,404,831
Balance at Mar. 31, 2020									$ 37,024	6,761,363	8,078,107	$ 14,876,494
Stock-based compensation expense, as restated										$ 143,334		$ 143,334
[1]	As adjusted for change in accounting principle (Note 2)
[2]	As adjusted for change in accounting principle (Note 2)
[3]	As adjusted for change in accounting principle (Note 2)
[4]	As adjusted for change in accounting principle (Note 2)
[5]	As adjusted for change in accounting principle (Note 2)

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. A) BASIS OF PRESENTATION The condensed consolidated balance sheet as of March 31, 2020 three nine March 31, 2020 nine March 31, 2020 three nine March 31, 2020 2019 not not may Certain information and footnote disclosure normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10 June 30, 2019 The preparation of financial statements in conformity with U.S. GAAP requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not valuation allowance , Company's B) INCOME TAXES A state tax provision of $6,104 $6,125 three nine March 31, 2020 ly. There was no three nine March 31, 2019. zero three nine March 31, 2020 2019 . F three nine March 31, 2019 $23,020 $22,995 not 2017. C) 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

Note 2 - Change in Accounting P

Note 2 - Change in Accounting Principle	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2. During the first 2020, The cumulative effect of the changes in the June 30, 2019 Stock-Based Balance Sheet As Previously Compensation As June 30, 2019 Reported Adjustment Adjusted Equity: Paid in capital $ 6,186,393 $ 146,742 $ 6,333,135 Retained earnings $ 8,848,684 $ (146,742 ) $ 8,701,942 The impact of the change in principle on the Consolidated Statement of Operations for the three nine March 31, 2019 Stock-Based Statement of Operations As Previously Compensation As Three Months Ended March 31, 2019 Reported Adjustment Adjusted Selling, general and administrative expenses $ 1,505,922 $ 34,426 $ 1,540,348 Income from operations 149,286 (34,426 ) 114,860 Net income $ 172,306 $ (34,426 ) $ 137,880 Income per common share Basic $ 0.02 $ (0.00 ) $ 0.02 Diluted $ 0.02 $ (0.00 ) $ 0.02 Stock-Based Statement of Operations As Previously Compensation As Nine Months Ended March 31, 2019 Reported Adjustment Adjusted Selling, general and administrative expenses $ 4,798,045 $ 91,239 $ 4,889,284 Income from operations 350,843 (91,239 ) 259,604 Net income $ 373,838 $ (91,239 ) $ 282,599 Income per common share Basic $ 0.05 $ (0.01 ) $ 0.04 Diluted $ 0.05 $ (0.01 ) $ 0.04 The impact of the change in principle on the Consolidated Statement of Cash Flows for the nine March 31, 2019 Stock-Based Statement of Cash Flows As Previously Compensation As Nine Months Ended March 31, 2019 Reported Adjustment Adjusted Operating activities: Net income $ 373,838 $ (91,239 ) $ 282,599 Stock-based compensation expense $ 292,186 $ 91,239 $ 383,425 As of March 31, 2020 3.03 $1,366,897. $1,093,712 June 30, 2019, 3.01

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. The components of inventories were as follows: March 31, 2020 June 30, 2019 Raw materials $ 1,915,307 $ 1,848,340 Finished goods 4,622,349 6,604,408 Inventories, gross 6,537,656 8,452,748 Reserve for obsolete inventory (1,546,095 ) (1,601,300 ) Inventories, net $ 4,991,561 $ 6,851,448

Note 4 - Credit Facility

Note 4 - Credit Facility	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	4. On May 14, 2019, two May 14, 2021. a $5,000,000 1.50% $1,000,000. no May 14, 2019 March 31, 2020 June 30, 2019 no

Note 5 - Revenue Recognition

Note 5 - Revenue Recognition	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	5. The Company disaggregates it's 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: Three Months Ended Nine Months Ended March 31 March 31 2020 2019 2020 2019 United States $ 4,200,797 $ 3,611,654 $ 11,785,603 $ 10,653,071 Export 588,644 1,248,593 2,577,259 5,403,242 Net Sales $ 4,789,441 $ 4,860,247 $ 14,362,862 $ 16,056,313 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 $367,198 and $424,574 nine March 31, 2020 2019 $859,370 $763,252 June 30, 2018 March 31, 2019 one three

Note 6 - (Loss) Income Per Comm

Note 6 - (Loss) Income Per Common and Common Stock Equivalent Share	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	6. Basic (loss) 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: Three Months Ended March 31, Nine Months Ended March 31, 2020 2019* 2020 2019* Numerator Net (loss) income $ (97,373 ) $ 137,880 $ (623,835 ) $ 282,599 Denominator Weighted average shares, basic 7,404,831 7,404,831 7,404,831 7,399,768 Dilutive effect of stock compensation awards - 594 - 8,342 Diluted shares 7,404,831 7,405,425 7,404,831 7,408,110 Net (loss) income attributable to common shareholders per share: Basic $ (0.01 ) $ 0.02 $ (0.08 ) $ 0.04 Diluted $ (0.01 ) $ 0.02 $ (0.08 ) $ 0.04 *As adjusted for change in accounting principle (Note 2

Note 7 - Leases

Note 7 - Leases	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7. The Company leases its facility in Milwaukee, Wisconsin from Koss Holdings, LLC, which is wholly-owned by the former Chairman. On January 5, 2017 five June 30, 2023 $380,000 five June 30, 2028

Note 8 - Subsequent Events

Note 8 - Subsequent Events	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	8. On April 13, 2020, April 14, 2020, two April 14, 2022. $506,700 1.0%. may eight 1 2 3 may 1106 Not 25% On April 24, 2020, no

Note 9 - Supplier Concentration

Note 9 - Supplier Concentration	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	9. The Company uses contract manufacturing facilities in the People’s Republic of China. The majority of the contract manufacturing is done by four one 75%

Note 10 - Legal Matters

Note 10 - Legal Matters	9 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	10. The Company is subject to a variety of claims and suits that arise from time to time in the ordinary course of business. Although management currently believes that resolving these claims against us, individually or in the aggregate, will not may

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	A) BASIS OF PRESENTATION The condensed consolidated balance sheet as of March 31, 2020 three nine March 31, 2020 nine March 31, 2020 three nine March 31, 2020 2019 not not may Certain information and footnote disclosure normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10 June 30, 2019 The preparation of financial statements in conformity with U.S. GAAP requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not valuation allowance , Company's
Income Tax, Policy [Policy Text Block]	B) INCOME TAXES A state tax provision of $6,104 $6,125 three nine March 31, 2020 ly. There was no three nine March 31, 2019. zero three nine March 31, 2020 2019 . F three nine March 31, 2019 $23,020 $22,995 not 2017.
Patent Costs [Policy Text Block]	C) 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

Note 2 - Change in Accounting_2

Note 2 - Change in Accounting Principle (Tables)	9 Months Ended
	Mar. 31, 2020
Notes Tables
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	Stock-Based Balance Sheet As Previously Compensation As June 30, 2019 Reported Adjustment Adjusted Equity: Paid in capital $ 6,186,393 $ 146,742 $ 6,333,135 Retained earnings $ 8,848,684 $ (146,742 ) $ 8,701,942 Stock-Based Statement of Operations As Previously Compensation As Three Months Ended March 31, 2019 Reported Adjustment Adjusted Selling, general and administrative expenses $ 1,505,922 $ 34,426 $ 1,540,348 Income from operations 149,286 (34,426 ) 114,860 Net income $ 172,306 $ (34,426 ) $ 137,880 Income per common share Basic $ 0.02 $ (0.00 ) $ 0.02 Diluted $ 0.02 $ (0.00 ) $ 0.02 Stock-Based Statement of Operations As Previously Compensation As Nine Months Ended March 31, 2019 Reported Adjustment Adjusted Selling, general and administrative expenses $ 4,798,045 $ 91,239 $ 4,889,284 Income from operations 350,843 (91,239 ) 259,604 Net income $ 373,838 $ (91,239 ) $ 282,599 Income per common share Basic $ 0.05 $ (0.01 ) $ 0.04 Diluted $ 0.05 $ (0.01 ) $ 0.04 Stock-Based Statement of Cash Flows As Previously Compensation As Nine Months Ended March 31, 2019 Reported Adjustment Adjusted Operating activities: Net income $ 373,838 $ (91,239 ) $ 282,599 Stock-based compensation expense $ 292,186 $ 91,239 $ 383,425

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2020 June 30, 2019 Raw materials $ 1,915,307 $ 1,848,340 Finished goods 4,622,349 6,604,408 Inventories, gross 6,537,656 8,452,748 Reserve for obsolete inventory (1,546,095 ) (1,601,300 ) Inventories, net $ 4,991,561 $ 6,851,448

Note 5 - Revenue Recognition (T

Note 5 - Revenue Recognition (Tables)	9 Months Ended
	Mar. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Nine Months Ended March 31 March 31 2020 2019 2020 2019 United States $ 4,200,797 $ 3,611,654 $ 11,785,603 $ 10,653,071 Export 588,644 1,248,593 2,577,259 5,403,242 Net Sales $ 4,789,441 $ 4,860,247 $ 14,362,862 $ 16,056,313

Note 6 - (Loss) Income Per Co_2

Note 6 - (Loss) Income Per Common and Common Stock Equivalent Share (Tables)	9 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, Nine Months Ended March 31, 2020 2019* 2020 2019* Numerator Net (loss) income $ (97,373 ) $ 137,880 $ (623,835 ) $ 282,599 Denominator Weighted average shares, basic 7,404,831 7,404,831 7,404,831 7,399,768 Dilutive effect of stock compensation awards - 594 - 8,342 Diluted shares 7,404,831 7,405,425 7,404,831 7,408,110 Net (loss) income attributable to common shareholders per share: Basic $ (0.01 ) $ 0.02 $ (0.08 ) $ 0.04 Diluted $ (0.01 ) $ 0.02 $ (0.08 ) $ 0.04

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019		Mar. 31, 2020	Mar. 31, 2019
Income Tax Expense (Benefit), Total	$ 6,104	$ (23,020)	[1]	$ 6,125	$ (22,995)	[1]
Tax Cuts and Jobs Act, Income Tax Expense (Benefit), Total		23,020			22,995
State and Local Jurisdiction [Member]
Income Tax Expense (Benefit), Total	6,104	0		6,125	0
Domestic Tax Authority [Member]
Income Tax Expense (Benefit), Total	$ 0	$ 0		$ 0	$ 0
[1]	As adjusted for change in accounting principle (Note 2)

Note 2 - Change in Accounting_3

Note 2 - Change in Accounting Principle (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 1,366,897	$ 1,093,712
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years 10 days	3 years 3 days

Note 2 - Change in Accounting_4

Note 2 - Change in Accounting Principle - Cumulative Effect of Changes for Adoption of New Accounting Standard (Details) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019		Mar. 31, 2020	Mar. 31, 2019		Jun. 30, 2019
Paid in capital							$ 6,333,135
Retained earnings	$ 8,078,107			$ 8,078,107			8,701,942	[1]
Selling, general and administrative expenses	1,687,676	$ 1,540,348	[2]	4,938,983	$ 4,889,284	[2]
Income from operations	(97,900)	114,860	[2]	(637,665)	259,604	[2]
Net (loss) income	$ (97,373)	$ 137,880	[2],[3]	$ (623,835)	$ 282,599	[2],[3],[4]
Basic (in dollars per share)	$ (0.01)	$ 0.02	[2],[3]	$ (0.08)	$ 0.04	[2],[3]
Diluted (in dollars per share)	$ (0.01)	$ 0.02	[2],[3]	$ (0.08)	$ 0.04	[2],[3]
Stock-based compensation expense				$ 428,228	$ 383,425	[4]
Accounting Standards Update 2016-09 [Member] | Previously Reported [Member]
Paid in capital							6,186,393
Retained earnings							8,848,684
Selling, general and administrative expenses		$ 1,505,922			4,798,045
Income from operations		149,286			350,843
Net (loss) income		$ 172,306			$ 373,838
Basic (in dollars per share)		$ 0.02			$ 0.05
Diluted (in dollars per share)		$ 0.02			$ 0.05
Stock-based compensation expense					$ 292,186
Accounting Standards Update 2016-09 [Member] | Revision of Prior Period, Adjustment [Member]
Paid in capital							146,742
Retained earnings							$ (146,742)
Selling, general and administrative expenses		$ 34,426			91,239
Income from operations		(34,426)			(91,239)
Net (loss) income		$ (34,426)			$ (91,239)
Basic (in dollars per share)		$ 0			$ (0.01)
Diluted (in dollars per share)		$ 0			$ (0.01)
Stock-based compensation expense					$ 91,239
[1]	As adjusted for change in accounting principle (Note 2)
[2]	As adjusted for change in accounting principle (Note 2)
[3]	As adjusted for change in accounting principle (Note 2)
[4]	As adjusted for change in accounting principle (Note 2)

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($)	Mar. 31, 2020	Jun. 30, 2019
Raw materials	$ 1,915,307	$ 1,848,340
Finished goods	4,622,349	6,604,408
Inventories, gross	6,537,656	8,452,748
Reserve for obsolete inventory	(1,546,095)	(1,601,300)
Inventories, net	$ 4,991,561	$ 6,851,448	[1]
[1]	As adjusted for change in accounting principle (Note 2)

Note 4 - Credit Facility (Detai

Note 4 - Credit Facility (Details Textual) - Town Bank [Member] - Credit Agreement [Member] - USD ($)	May 14, 2019	Mar. 31, 2020	Jun. 30, 2019
Debt Instrument, Term (Year)	2 years
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.00%
Long-term Line of Credit, Total		$ 0	$ 0
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000,000

Note 5 - Revenue Recognition (D

Note 5 - Revenue Recognition (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2018
Contract with Customer, Liability, Total	$ 367,198	$ 424,574
Contract with Customer, Liability, Total		$ 763,252	$ 859,370
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

Note 5 - Revenue Recognition -

Note 5 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019		Mar. 31, 2020	Mar. 31, 2019
Net Sales	$ 4,789,441	$ 4,860,247	[1]	$ 14,362,862	$ 16,056,313	[1]
UNITED STATES
Net Sales	4,200,797	3,611,654		11,785,603	10,653,071
Non-US [Member]
Net Sales	$ 588,644	$ 1,248,593		$ 2,577,259	$ 5,403,242
[1]	As adjusted for change in accounting principle (Note 2)

Note 6 - (Loss) Income Per Co_3

Note 6 - (Loss) Income Per Common and Common Stock Equivalent Share - Earning Per Share (Details) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	[1]	Mar. 31, 2020	Mar. 31, 2019	[1]
Net (loss) income	$ (97,373)	$ 137,880	[2]	$ (623,835)	$ 282,599	[2],[3]
Weighted average shares, basic (in shares)	7,404,831	7,404,831	[2]	7,404,831	7,399,768	[2]
Dilutive effect of stock compensation awards (in shares)		594			8,342
Diluted shares (in shares)	7,404,831	7,405,425	[2]	7,404,831	7,408,110	[2]
Basic (in dollars per share)	$ (0.01)	$ 0.02	[2]	$ (0.08)	$ 0.04	[2]
Diluted (in dollars per share)	$ (0.01)	$ 0.02	[2]	$ (0.08)	$ 0.04	[2]
[1]	As adjusted for change in accounting principle (Note 2)
[2]	As adjusted for change in accounting principle (Note 2)
[3]	As adjusted for change in accounting principle (Note 2)

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual)	9 Months Ended
	Mar. 31, 2020USD ($)
Lease Extension Per Year	$ 380,000
Lessee, Operating Lease, Renewal Term (Year)	5 years

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details Textual)	Apr. 13, 2020USD ($)
Subsequent Event [Member]
Proceeds From Paycheck Protection Program Under CARES Act	$ 506,700

Note 9 - Supplier Concentrati_2

Note 9 - Supplier Concentration (Details Textual)	3 Months Ended
	Mar. 31, 2020
Number of Major Vendors	4
Supplier Concentration Risk [Member] | Manufacturing Costs Benchmark [Member]
Number of Major Vendors	1
Concentration Risk, Percentage	75.00%