Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Jun. 30, 2016	Aug. 15, 2016	Dec. 31, 2015
Entity Information [Line Items]
Entity Registrant Name	KOSS CORP
Entity Central Index Key	0000056701
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		7,382,706
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 5,218,556

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Net sales	$ 26,001,346	$ 24,230,056
Cost of goods sold	17,058,774	15,781,489
Gross profit	8,942,572	8,448,567
Operating expenses:
Selling, general and administrative expenses	7,959,460	7,904,739
Unauthorized transaction related (recoveries) costs, net	(1,286,001)	31,027
Other expense (income):
Interest expense	6,075	12,813
Income before income tax provision	2,263,038	499,988
Income tax provision	874,038	17,375
Net income	$ 1,389,000	$ 482,613
Income per common share:
Basic	$ 0.19	$ 0.07
Diluted	$ 0.19	$ 0.07

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 735,393	$ 1,000,266
Accounts receivable, less allowance for doubtful accounts of $55,175 and $26,052, respectively	3,530,854	2,823,980
Inventories	8,595,485	7,182,440
Prepaid expenses and other current assets	281,099	348,044
Income taxes receivable	583,507	205,531
Total current assets	13,726,338	11,560,261
Equipment and leasehold improvements, net	1,514,472	1,592,520
Other assets:
Deferred income taxes	3,212,556	3,914,569
Cash surrender value of life insurance	5,667,105	5,359,663
Total other assets	8,879,661	9,274,232
Total assets	24,120,471	22,427,013
Current liabilities:
Accounts payable	1,966,656	2,172,254
Accrued liabilities	1,601,652	1,575,027
Total current liabilities	3,568,308	3,747,281
Long-term liabilities:
Deferred compensation	2,187,714	2,107,486
Other liabilities	178,255	219,227
Total long-term liabilities	2,365,969	2,326,713
Total liabilities	5,934,277	6,073,994
Stockholders' equity:
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 7,382,706 shares	36,914	36,914
Paid in capital	5,070,956	4,626,781
Retained earnings	13,078,324	11,689,324
Total stockholders' equity	18,186,194	16,353,019
Total liabilities and stockholders' equity	$ 24,120,471	$ 22,427,013

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Allowance for doubtful accounts	$ 55,175	$ 26,052
Common stock, par value	$ 0.005	$ 0.005
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	7,382,706	7,382,706
Common stock, shares outstanding	7,382,706	7,382,706

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Net income	$ 1,389,000	$ 482,613
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Provision for doubtful accounts	28,514	25,725
Loss on disposal of equipment and leasehold improvements	40,710	14,953
Depreciation of equipment and leasehold improvements	487,134	559,631
Stock-based compensation expense	444,175	630,539
Deferred income taxes	702,013	284,783
Change in cash surrender value of life insurance	177,740	150,312
Change in deferred compensation accrual	230,228	(12,605)
Deferred compensation paid	(150,000)	(50,000)
Net changes in operating assets and liabilities (see note 14)	(2,679,409)	(2,125,917)
Cash provided by (used in) operating activities	314,625	(340,590)
Investing activities:
Life insurance premiums paid	(129,702)	(231,942)
Purchase of equipment and leasehold improvements	(449,796)	(326,613)
Cash (used in) investing activities	(579,498)	(558,555)
Financing activities:
Net (decrease) in cash and cash equivalents	(264,873)	(899,145)
Cash and cash equivalents at beginning of year	1,000,266	1,899,411
Cash and cash equivalents at end of year	$ 735,393	$ 1,000,266

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Common Stock	Paid in Capital	Retained Earnings
Shares outstanding at period start (in shares) at Jun. 30, 2014		7,382,706
Stockholders' equity at period start at Jun. 30, 2014	$ 15,239,867		$ 36,914	$ 3,996,242	$ 11,206,711
Increase (decrease) in stockholders' equity [Roll Forward]
Net income	482,613				482,613
Stock-based compensation expense	630,539			630,539
Shares outstanding at period end (in shares) at Jun. 30, 2015		7,382,706
Stockholders' equity at period end at Jun. 30, 2015	16,353,019		36,914	4,626,781	11,689,324
Increase (decrease) in stockholders' equity [Roll Forward]
Net income	1,389,000				1,389,000
Stock-based compensation expense	444,175			444,175
Shares outstanding at period end (in shares) at Jun. 30, 2016		7,382,706
Stockholders' equity at period end at Jun. 30, 2016	$ 18,186,194		$ 36,914	$ 5,070,956	$ 13,078,324

SIGNIFICANT ACCOUNTING POLICIES (Notes)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Notes)	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	NATURE OF BUSINESS — Koss Corporation ("Koss"), a Delaware corporation, and its 100%-owned subsidiary (collectively the "Company"), reports its finances as a single reporting segment, as the Company’s principal 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 offices in the Netherlands and Russia which utilize independent distributors in several foreign countries. The Company has one subsidiary, Koss U.K. Limited ("Koss UK"), which was formed to comply with certain European Union ("EU") requirements. Koss UK is non-operating and holds no assets. BASIS OF CONSOLIDATION — The consolidated financial statements include the accounts of Koss and its subsidiary, Koss UK, which is a 100%-owned subsidiary. All significant intercompany accounts and transactions have been eliminated. REVENUE RECOGNITION — The Company recognizes revenue when all of the following criteria are met: persuasive evidence of an arrangement exists; shipment and delivery have occurred; the seller’s price to the buyer is fixed and determinable; and collectibility is reasonably assured. When these criteria are generally satisfied, the Company recognizes revenue. The Company also offers certain customers the right to return products that do not meet the standards agreed with the customer. The Company continuously monitors such product returns and cannot guarantee that they will continue to experience the same return rates that they have experienced in the past. The Company records a provision for estimated returns based on prior product rates of return. Any significant increase in product quality failure rates and the resulting credit returns could have a material adverse impact on the Company’s operating results for the period or periods in which such returns materialize. The Company provides for certain sales incentives. The Company records a provision for estimated incentives based upon the incentives offered to customers on product related sales in the same period as the related revenues are recorded. The provision is recorded as a reduction of sales. The Company also records a provision for estimated sales returns and allowances on product related sales in the same period as the related revenues are recorded. These estimates are based on historical sales returns, analysis of credit memo data and other known factors. If the historical data the Company uses to calculate these estimates does not properly reflect future returns, adjustments may be required in future periods. SHIPPING AND HANDLING FEES AND COSTS — Shipping and handling costs charged to customers have been included in net sales. Shipping and handling costs incurred by the Company have been included in cost of goods sold. RESEARCH AND DEVELOPMENT — Research and development activities charged to operations as a component of selling, general and administrative expenses in the accompanying Consolidated Statements of Income amounted to $91,259 in fiscal year 2016. There were no research and development activities charged to operations in fiscal year 2015. ADVERTISING COSTS — Advertising costs included within selling, general and administrative expenses in the accompanying Consolidated Statements of Income were $143,518 in 2016 and $154,505 in 2015. Such costs are expensed as incurred. INCOME TAXES — The Company operates as a C Corporation under the Internal Revenue Code of 1986, as amended (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 losses, 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. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. INCOME PER COMMON AND COMMON STOCK EQUIVALENT SHARE — Income 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 per share. Basic income per common and common stock equivalent share includes no dilution and is computed by dividing net income by the weighted average common shares outstanding for the period. Diluted income per common and common stock equivalent share reflects the potential dilution of securities that could share in the earnings of an entity. See Note 11 for additional information on income 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. See Note 3 for additional information on accounts receivable. INVENTORIES — The Company’s inventory is valued at the lower of last-in, first-out ("LIFO") cost or market. 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. 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 are included in selling, general and administrative expenses in the Consolidated Statements of Income, which is where the annual premiums are recorded. PRODUCT WARRANTY OBLIGATIONS — Estimated future warranty costs related to products are charged to cost of goods sold during the period the related revenue is recognized. The product warranty liability reflects the Company’s best estimate of probable obligations under those warranties. See Note 9 for additional information on product warranty obligations. DEFERRED COMPENSATION — The Company’s deferred compensation liabilities are for a current and former officer and are calculated based on compensation, years of service 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. See Note 10 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 a 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, 2016 and 2015. LEGAL COSTS — All legal costs related to litigation are charged to operations as incurred, except settlements, which are expensed when a claim is probable and can be estimated. Recoveries of legal costs are recorded when the amount and items to be paid are confirmed by the insurance company. 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 12. 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. NEW ACCOUNTING PRONOUNCEMENTS — Accounting Standards Update ("ASU") No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, is part of the Financial Accounting Standards Board ("FASB") simplification initiative. This update requires deferred tax assets and liabilities to be classified as noncurrent in a classified statement of financial position. The Company adopted this update retrospectively during the year ended June 30, 2016 and has reflected the change on the Consolidated Balance Sheets. The adoption of this ASU had no impact on the valuation of the Company's deferred tax assets and liabilities, only the classification of the items on the Consolidated Balance Sheets. 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. RECLASSIFICATIONS — Certain amounts previously reported have been reclassified to conform to the current presentation.

UNAUTHORIZED TRANSACTION RELATED RECOVERIES (Notes)

12 Months Ended

Jun. 30, 2016

Unauthorized Transactions, Costs and Related Recoveries, Net [Abstract]

Unauthorized Transaction Related Costs and Recoveries

In December 2009, the Company learned of significant unauthorized transactions as previously reported. The Company has ongoing costs and recoveries associated with the unauthorized transactions. For the fiscal years ended June 30, 2016 and 2015, the costs incurred were for legal fees related to claims initiated against third parties (see Note 18). During the year ended June 30, 2016, the Company had net recoveries as a result of settling one of its claims for a gross amount of $3,000,000. For the fiscal years ended June 30, 2016 and 2015, the costs and recoveries were as follows:



	2016			2015
Legal fees incurred	$	1,714,074		$	152,492
Gross proceeds from the settlement of the third party lawsuit	(3,000,000		)	—
Proceeds from asset forfeitures	(75		)	(121,465		)
Unauthorized transaction related (recoveries) costs, net	$	(1,286,001	)	$	31,027

ACCOUNTS RECEIVABLE (Notes)

12 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Accounts Receivable

Accounts receivable includes unsecured trade receivables due from customers. The Company performs credit evaluations of its customers and does not require collateral to establish an account receivable. Accounts receivable from the Company's two largest customers represented approximately 18% and 26% of trade account receivables as of June 30, 2016 and 2015, respectively.

The Company evaluates collectibility of accounts receivable based on a number of factors. Accounts receivable are considered to be past due if unpaid one day after their due date. An allowance for doubtful accounts is recorded for past due receivable balances based on a review of the past due item and general economic conditions. The Company writes off accounts receivable when they become uncollectible. Changes in the allowance for doubtful accounts were as follows:



Fiscal Year Ended June 30,	Balance, beginning of year		Provision charged to expense	Amounts written-off		Recoveries of previously written-off	Balance, end of year
2016	$	26,052	28,514	(447	)	1,056	$	55,175
2015	$	20,501	25,725	(20,174	)	—	$	26,052

The vast majority of international customers, outside of Canada, purchase products on a cash against documents or cash in advance basis. Approximately 28% and 5% of the Company's trade accounts receivable at June 30, 2016 and 2015, were foreign receivables denominated in U.S. dollars.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

INVENTORIES (Notes)

12 Months Ended

Jun. 30, 2016

Inventory Disclosure [Abstract]

Inventories

As of June 30, 2016 and 2015, the Company’s inventory was valued using the lower of last-in, first-out (“LIFO”) cost or market. If the first-in, first-out (“FIFO”) method of inventory accounting had been used by the Company for inventories valued at LIFO, inventories would have been $471,174 and $753,439 higher than reported at June 30, 2016 and 2015, respectively.

The components of inventories at June 30, 2016 and 2015 were as follows:



	2016			2015
Raw materials	$	3,466,907		$	5,374,333
Finished goods	7,570,026			6,246,072
	11,036,933			11,620,405
Reserve for obsolete inventory	(2,441,448		)	(4,437,965		)
Total inventories	$	8,595,485		$	7,182,440

EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Notes)

12 Months Ended

Jun. 30, 2016

Property, Plant and Equipment, Net [Abstract]

Equipment and Leasehold Improvements

The major categories of equipment and leasehold improvements at June 30, 2016 and 2015 are summarized as follows:



	Estimated useful lives	2016		2015
Machinery and equipment	5-10 years	$	592,189	$	642,200
Furniture and office equipment	5-10 years	373,716		374,616
Tooling	5 years	4,299,776		4,126,850
Display booths	5 years	253,680		287,180
Computer equipment	3-5 years	768,620		1,414,517
Leasehold improvements	3-15 years	2,387,626		2,308,246
Assets in progress	N/A	210,189		60,600
		8,885,796		9,214,209
Less: accumulated depreciation and amortization		7,371,324		7,621,689
Equipment and leasehold improvements, net		$	1,514,472	$	1,592,520

INCOME TAXES (Notes)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

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 2016 and 2015 consisted of the following:



Year Ended June 30,	2016		2015
Current:
Federal	$	169,350	$	(100,126	)
State	2,675		(167,282		)
Deferred	702,013		284,783
Total income tax provision	$	874,038	$	17,375

The 2016 and 2015 tax results in an effective rate different than the federal statutory rate because of the following:



Year Ended June 30,	2016			2015
Federal income tax expense at statutory rate	$	769,433		$	169,996
State income tax expense (benefit), net of federal income tax benefit	91,660			(21,442		)
Decrease in valuation allowance	(370,000		)	—
Stock-based compensation	447,180			53,596
Adjustments for unrecognized tax benefits	—			(175,000		)
Other	(64,235		)	(9,775		)
Total income tax provision	$	874,038		$	17,375

Temporary differences which give rise to deferred income tax assets and liabilities at June 30, 2016 and June 30, 2015 include:



	2016			2015
Deferred income tax assets:
Deferred compensation	$	864,954		$	835,270
Stock-based compensation	603,159			889,325
Accrued expenses and reserves	1,390,910			2,075,601
Federal and state net operating loss carryforwards	418,296			463,237
Valuation allowance	(409		)	(370,409		)
Equipment and leasehold improvements	—			11,566
Other	5,979			14,650
Total deferred income tax assets	3,282,889			3,919,240

Deferred income tax liabilities:
Equipment and leasehold improvements	(67,390		)	—
Other	(2,943		)	(4,671		)
Net deferred income tax assets	$	3,212,556		$	3,914,569

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 full value of such expected benefits. The Company has no federal net operating loss carryforwards as of June 30, 2016. The Company has net operating loss carryforwards in the state of Wisconsin totaling $5,892,509 which expire in fiscal years 2030 through 2035. In addition, the Company has operating loss carryforwards in other states totaling $324,326, which expire in fiscal years 2026 through 2035.

ASC Topic 740 "Income Taxes" prescribes 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 year ended June 30, 2016.

Additionally, ASC Topic 740 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, 2016 and 2015. The Company records interest related to unrecognized tax benefits in interest expense.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2016		2015
Unrecognized tax benefits at beginning of year	$	—	$	175,000
Reductions based on settlements with taxing authorities	—		(175,000		)
Unrecognized tax benefits at end of year	$	—	$	—

In the fiscal year ended June 30, 2015, the Company settled its position with a state tax authority and reduced the unrecognized tax benefits to zero. The Company does not believe it has any unrecognized tax benefits as of June 30, 2016. Any changes to the Company's unrecognized tax benefits during the fiscal years ended June 30, 2016 and 2015 would impact 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 beginning July 1, 2012 or later are open. For states in which the Company files state income tax returns, the statute of limitations is generally open for tax years ended June 30, 2012 and forward.

The following are the changes in the valuation allowance:



Year Ended June 30,	Balance, beginning of year			Increase in valuation allowance	Release of valuation allowance	Balance, end of year
2016	$	(370,409	)	—	370,000	$	(409	)
2015	$	(370,409	)	—	—	$	(370,409	)

CREDIT FACILITY (Notes)	12 Months Ended
CREDIT FACILITY (Notes)	Jun. 30, 2016
Debt Disclosure [Abstract]
Credit Facility	On May 12, 2010, the Company entered into a secured credit facility ("Credit Agreement") with JPMorgan Chase Bank, N.A. (“Lender”). The Credit Agreement provided for an $8,000,000 revolving secured credit facility with interest rates either ranging from 0.0% to 0.75% over the Lender’s most recently publicly announced prime rate or 2.0% to 3.0% over LIBOR, depending on the Company’s leverage ratio. The Company pays a fee of 0.3% to 0.45% for unused amounts committed in the credit facility. On July 23, 2014, the Credit Agreement was amended to reduce the facility to $5,000,000, subject to a borrowing base calculation as defined in the Credit Agreement, and to amend certain financial covenants. On May 31, 2016, the Credit Agreement was amended to extend the expiration to July 31, 2018, and to amend certain financial covenants. In addition to the revolving loans, the Credit Agreement also provides that the Company may, from time to time, request the Lender to issue letters of credit for the benefit of the Company up to a sublimit of $2,000,000 and subject to certain other limitations. The loans may be used only for general corporate purposes of the Company. The Credit Agreement contains certain affirmative, negative and financial covenants customary for financings of this type. The negative covenants include restrictions on other indebtedness, liens, fundamental changes, certain investments, asset sales, sale and leaseback transactions and transactions with affiliates, among other restrictions. The financial covenants include minimum debt service coverage ratio requirements. The Company and the Lender also entered into the Pledge and Security Agreement dated May 12, 2010, 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. As of June 30, 2016 and 2015, there were no outstanding borrowings on the facility. The Company incurs interest expense primarily related to its secured credit facility. Interest expense was $6,075 and $12,813 for the years ended June 30, 2016 and 2015, respectively.

PRODUCT WARRANTY OBLIGATIONS (Notes)

12 Months Ended

Jun. 30, 2016

Standard Product Warranty Disclosure [Abstract]

Product Warranty Obligations

The Company records a liability for product warranty obligations at the time of sale based upon historical warranty experience. The majority of the Company’s products carry a lifetime warranty. The Company also records a liability for specific warranty matters when they become known and are reasonably estimated. However, the Company is continuously releasing new and more complex and technologically advanced products. Even though some of these products have a shorter warranty period, it is at least reasonably possible that products could be released with certain unknown quality or design problems resulting in higher than expected warranty and related costs. These costs could have a materially adverse effect on the Company's results of operations and financial condition in the near term. The Company’s current and non-current product warranty obligations are included in accrued liabilities and other liabilities, respectively, in the Consolidated Balance Sheets.

Changes to the product warranty obligations for the years ended June 30, 2016 and 2015 are as follows:



Year Ended June 30,	Balance, beginning of year		Provision charged to expense	Warranty expenses incurred		Balance, end of year
2016	$	531,891	214,827	(263,188	)	$	483,530
2015	$	722,624	103,925	(294,658	)	$	531,891

DEFERRED COMPENSATION (Notes)	12 Months Ended
DEFERRED COMPENSATION (Notes)	Jun. 30, 2016
Deferred Compensation [Abstract]
Deferred Compensation	The Company has deferred compensation agreements with a former and current officer. 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 net present value was calculated for the former officer using a discount factor of 2.60% and 2.70% as of June 30, 2016 and 2015, respectively. The net present value was calculated for the current officer using a discount factor of 4.80% and 4.80% at June 30, 2016 and 2015, respectively. The Board of Directors entered into an agreement to continue the 1991 base salary of the former chairman for the remainder of his life. These payments began in the fiscal year ended June 30, 2015, and payments of $150,000 and $50,000 were made under this arrangement for the years ended June 30, 2016 and 2015, respectively. The Company has a deferred compensation liability of $772,026 and $820,720 recorded as of June 30, 2016 and 2015, respectively. Deferred compensation expense of $101,306 and $166,414 was recognized under this arrangement in 2016 and 2015, respectively. The Board of Directors has approved a supplemental retirement plan with an 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. The Company has a deferred compensation liability of $1,565,688 and $1,436,766 recorded as of June 30, 2016 and 2015, respectively. Deferred compensation expense of $128,922 and a reversal of deferred compensation expense of $179,019 was recognized under this arrangement in 2016 and 2015, respectively. The Company uses life insurance policies to provide funds to meet its deferred compensation obligations.

INCOME (LOSS) PER COMMON AND COMMON STOCK EQUIVALENT SHARE (Notes)	12 Months Ended
	Jun. 30, 2016
Earnings Per Share, Basic and Diluted [Abstract]
Income Per Common and Common Stock Equivalent Share	Basic income per share is computed based on the weighted-average number of common shares outstanding. The weighted-average number of common shares outstanding was 7,382,706 for the years ended June 30, 2016 and 2015. When dilutive, stock options are included in income per share as share equivalents using the treasury stock method. For the years ended June 30, 2016 and 2015 there were no common stock equivalents related to stock option grants that were included in the computation of the weighted-average number of shares outstanding for diluted income per share. Shares issuable upon the exercise of outstanding options of 2,140,000 and 2,245,000 were excluded from the diluted weighted average common shares outstanding for the years ended June 30, 2016 and 2015, respectively, as they would be anti-dilutive.

STOCK OPTIONS (Notes)

12 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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 which expire or are otherwise forfeited, canceled or terminated after July 25, 2012, the Effective Date of the 2012 Plan. As of June 30, 2016, there were 1,374,308 options available for future grants. Options vest over a three to five year period from the date of grant, with a maximum term of five to ten years.

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. 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. Expected pre-vesting option forfeitures are based on historical data.

As of June 30, 2016, there was $690,190 of total unrecognized compensation cost related to stock options granted under the 2012 Plan and 1990 Plan. This cost is expected to be recognized over a weighted average period of 2.30 years. Total unrecognized compensation cost will be adjusted for any future changes in estimated and actual forfeitures. The Company recognized stock-based compensation expense of $444,175 and $630,539 in 2016 and 2015, respectively. These expenses were included in selling, general and administrative expenses.

There was no cash received from stock option exercises during 2016 or 2015.

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 years ended June 30, 2016 and 2015 were $0.75 and $0.73, respectively. 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 2016 and 2015, the Company used the following weighted-average assumptions:



	2016		2015
Expected stock price volatility	50	%	43	%
Risk free interest rate	1.48	%	1.52	%
Expected dividend yield	4.00	%	4.00	%
Expected forfeitures	5.60	%	1.50	%
Expected life of options	4.5 years		4.6 years

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



	Number of Shares		Stock Options Price Range	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life - Years	Aggregate Intrinsic Value of In-The- Money Options
Shares under option at June 30, 2014	2,066,000		$3.90 - $13.09	$	5.97	4.13	$	—
Granted	470,000		$2.24 - $3.30	$	3.14
Exercised	—		—	$	—
Expired	(201,000	)	$4.97 - $13.09	$	7.06
Forfeited	(90,000	)	$3.00 - $6.00	$	4.69
Shares under option at June 30, 2015	2,245,000		$2.24 - $13.09	$	5.33	3.69	$	1,676
Granted	410,000		$2.05 - $2.83	$	2.72
Exercised	—		—	$	—
Expired	(458,000	)	$3.00 - $13.09	$	6.25
Forfeited	(57,000	)	$3.00 - $6.00	$	4.34
Shares under option at June 30, 2016	2,140,000		$2.05 - $9.74	$	4.66	3.51	$	—
Exercisable as of June 30, 2015	1,134,500		$3.90 - $13.09	$	6.01	2.18	$	—
Exercisable as of June 30, 2016	1,084,000		$2.24 - $9.74	$	5.57	2.47	$	—

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, 2016 and 2015 is as follows:



	2016		2015
Total intrinsic value of stock options exercised	$	—	$	—
Cash received from stock option exercises	$	—	$	—
Total fair value of stock options vested	$	583,727	$	696,958

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

STOCK REPURCHASE PROGRAM (Notes)	12 Months Ended
STOCK REPURCHASE PROGRAM (Notes)	Jun. 30, 2016
Stock Purchase Agreement Disclosure [Abstract]
Stock Purchase Agreements	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 his Company common stock from his estate. The Company does not have the right to require the estate to sell stock to the Company. As such, this arrangement is accounted for as a written put option with the fair value of the put option recorded as a derivative liability. As of June 30, 2016, the estate of the former chairman does not hold a material amount of Company stock. As such, there is no exposure that the executor of the former chairman's estate may require the Company to repurchase a material amount of stock in the event of his death. The repurchase price is 95% of the fair market value of the common stock on the date that notice to repurchase is provided to the Company. The total number of shares to be repurchased will be sufficient to provide proceeds which are the lesser of $2,500,000 or the amount of estate taxes and administrative expenses incurred by his estate. The Company may elect to pay the purchase price in cash or may elect to pay cash equal to 25% of the total amount due and to execute a promissory note at the prime rate of interest for the balance payable over four years. The Company maintains a $1,150,000 life insurance policy to fund a substantial portion of this obligation. 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 has approved increases in the amount authorized for repurchase under the program. As of June 30, 2016, the Board had authorized the repurchase of an aggregate of $45,500,000 of common stock under the stock repurchase program, of which $43,360,247 had been expended. No shares were repurchased in 2016 or 2015.

ADDITIONAL CASH FLOW INFORMATION (Notes)

12 Months Ended

Jun. 30, 2016

Supplemental Cash Flow Elements [Abstract]

Additional Cash Flow Information

The net changes in cash as a result of changes in operating assets and liabilities consist of the following:



	2016			2015
Accounts receivable	$	(735,388	)	$	311,182
Inventories	(1,413,045		)	(127,508		)
Income taxes receivable	(377,976		)	903,745
Prepaid expenses and other current assets	66,945			(199,844		)
Income taxes payable	—			(175,000		)
Accounts payable	(205,598		)	(292,501		)
Accrued liabilities	26,625			(2,428,446		)
Other liabilities	(40,972		)	(117,545		)
Net change	$	(2,679,409	)	$	(2,125,917	)

Net cash paid (refunded) during the year for:
Income taxes	$	558,202		$	(985,585	)
Interest	$	6,075		$	12,813

EMPLOYEE BENEFIT PLANS (Notes)	12 Months Ended
EMPLOYEE BENEFIT PLANS (Notes)	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
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 2016 or 2015. 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 2016 and 2015, the matching contribution was 50% and 25% of employee contributions to the plan, respectively. Vesting of Company contributions occurs immediately. Company contributions were $186,877 and $91,354 during 2016 and 2015, respectively.

FOREIGN SALES AND SIGNIFICANT CUSTOMERS (Notes)

12 Months Ended

Jun. 30, 2016

Foreign Sales and Significant Customers [Abstract]

Foreign Sales and Significant Customers

The Company’s net foreign sales amounted to $10,504,583 during 2016 and $7,450,744 during 2015.

The Company’s sales by country were as follows:



	2016		2015
United States	$	15,496,763	$	16,779,312
Sweden	4,322,582		3,677,225
Czech Republic	1,231,731		441,754
Hong Kong	1,121,609		—
People's Republic of China	969,848		193,374
Malaysia	669,782		262,600
Canada	400,672		498,026
All other countries	1,788,359		2,377,765
Net sales	$	26,001,346	$	24,230,056

Sales during 2016 and 2015 to the Company's five largest customers, which are generally large national retailers or foreign distributors, represented approximately 47% and 45% of the Company's net sales, respectively. Included in these percentages were sales to a single Scandinavian distributor which represented approximately 17% and 15% of the Company's net sales during 2016 and 2015, respectively. Net sales to a single United States customer represented approximately 11% and 8% of the Company's net sales during 2016 and 2015, respectively.

COMMITMENTS AND CONTINGENCIES (Notes)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Notes)	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	The Company leases its facility in Milwaukee, Wisconsin from Koss Holdings, LLC, which is wholly-owned by the former chairman. On May 15, 2012, the lease was renewed for a period of five years, ending June 30, 2018, and is being accounted for as an operating lease. The lease extension maintained the rent at a fixed rate of $380,000 per year. The Company is responsible for all property maintenance, insurance, taxes and other normal expenses related to ownership. Total rent expense was $380,000 in both 2016 and 2015.

LEGAL MATTERS (Notes)

12 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Legal Matters

As of June 30, 2016, the Company is party to the following matter related to the unauthorized transactions described below:

•

On December 17, 2010, the Company filed an action against Park Bank in Circuit Court of Milwaukee County, Wisconsin alleging a claim of breach of the Uniform Fiduciaries Act relating to the unauthorized transactions, as previously reported. In 2015, Park Bank filed third party claims based on contribution and subrogation against Grant Thornton LLP and Michael Koss. The Court granted motions to dismiss the contribution claims against Grant Thornton LLP and Michael Koss, but determined that it was premature to decide the subrogation claims at this stage of the proceedings. On or around March 11, 2016, the Court entered an order granting Park Bank's motion for summary judgment that dismissed the case. On March 22, 2016, the Company filed a Notice of Appeal that appeals the order granting Park Bank's motion for summary judgment and the Court's denial of the motion to dismiss the subrogation claims.

The ultimate resolution of this matter 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.

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Consolidation	BASIS OF CONSOLIDATION — The consolidated financial statements include the accounts of Koss and its subsidiary, Koss UK, which is a 100%-owned subsidiary. All significant intercompany accounts and transactions have been eliminated.
Revenue Recognition	REVENUE RECOGNITION — The Company recognizes revenue when all of the following criteria are met: persuasive evidence of an arrangement exists; shipment and delivery have occurred; the seller’s price to the buyer is fixed and determinable; and collectibility is reasonably assured. When these criteria are generally satisfied, the Company recognizes revenue. The Company also offers certain customers the right to return products that do not meet the standards agreed with the customer. The Company continuously monitors such product returns and cannot guarantee that they will continue to experience the same return rates that they have experienced in the past. The Company records a provision for estimated returns based on prior product rates of return. Any significant increase in product quality failure rates and the resulting credit returns could have a material adverse impact on the Company’s operating results for the period or periods in which such returns materialize. The Company provides for certain sales incentives. The Company records a provision for estimated incentives based upon the incentives offered to customers on product related sales in the same period as the related revenues are recorded. The provision is recorded as a reduction of sales. The Company also records a provision for estimated sales returns and allowances on product related sales in the same period as the related revenues are recorded. These estimates are based on historical sales returns, analysis of credit memo data and other known factors. If the historical data the Company uses to calculate these estimates does not properly reflect future returns, adjustments may be required in future periods.
Shipping and Handling Fees and Costs	SHIPPING AND HANDLING FEES AND COSTS — Shipping and handling costs charged to customers have been included in net sales. Shipping and handling costs incurred by the Company have been included in cost of goods sold.
Research and Development	RESEARCH AND DEVELOPMENT — Research and development activities charged to operations as a component of selling, general and administrative expenses in the accompanying Consolidated Statements of Income amounted to $91,259 in fiscal year 2016. There were no research and development activities charged to operations in fiscal year 2015.
Advertising Costs	ADVERTISING COSTS — Advertising costs included within selling, general and administrative expenses in the accompanying Consolidated Statements of Income were $143,518 in 2016 and $154,505 in 2015. Such costs are expensed as incurred.
Income Taxes	INCOME TAXES — The Company operates as a C Corporation under the Internal Revenue Code of 1986, as amended (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 losses, 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. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized.
Income Per Common and Common Stock Equivalent Share	INCOME PER COMMON AND COMMON STOCK EQUIVALENT SHARE — Income 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 per share. Basic income per common and common stock equivalent share includes no dilution and is computed by dividing net income by the weighted average common shares outstanding for the period. Diluted income per common and common stock equivalent share reflects the potential dilution of securities that could share in the earnings of an entity. See Note 11 for additional information on income 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. See Note 3 for additional information on accounts receivable.
Inventories	INVENTORIES — The Company’s inventory is valued at the lower of last-in, first-out ("LIFO") cost or market. 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.
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 are included in selling, general and administrative expenses in the Consolidated Statements of Income, which is where the annual premiums are recorded.
Product Warranty Obligations	PRODUCT WARRANTY OBLIGATIONS — Estimated future warranty costs related to products are charged to cost of goods sold during the period the related revenue is recognized. The product warranty liability reflects the Company’s best estimate of probable obligations under those warranties. See Note 9 for additional information on product warranty obligations.
Deferred Compensation	DEFERRED COMPENSATION — The Company’s deferred compensation liabilities are for a current and former officer and are calculated based on compensation, years of service 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. See Note 10 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 a 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, 2016 and 2015.
Legal Costs	LEGAL COSTS — All legal costs related to litigation are charged to operations as incurred, except settlements, which are expensed when a claim is probable and can be estimated. Recoveries of legal costs are recorded when the amount and items to be paid are confirmed by the insurance company. 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 12. 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.
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS — Accounting Standards Update ("ASU") No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, is part of the Financial Accounting Standards Board ("FASB") simplification initiative. This update requires deferred tax assets and liabilities to be classified as noncurrent in a classified statement of financial position. The Company adopted this update retrospectively during the year ended June 30, 2016 and has reflected the change on the Consolidated Balance Sheets.
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 revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reclassifications	RECLASSIFICATIONS — Certain amounts previously reported have been reclassified to conform to the current presentation.

INVENTORIES (Tables)

12 Months Ended

Jun. 30, 2016

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

The components of inventories at June 30, 2016 and 2015 were as follows:



	2016			2015
Raw materials	$	3,466,907		$	5,374,333
Finished goods	7,570,026			6,246,072
	11,036,933			11,620,405
Reserve for obsolete inventory	(2,441,448		)	(4,437,965		)
Total inventories	$	8,595,485		$	7,182,440

EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Tables)

12 Months Ended

Jun. 30, 2016

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment

The major categories of equipment and leasehold improvements at June 30, 2016 and 2015 are summarized as follows:



	Estimated useful lives	2016		2015
Machinery and equipment	5-10 years	$	592,189	$	642,200
Furniture and office equipment	5-10 years	373,716		374,616
Tooling	5 years	4,299,776		4,126,850
Display booths	5 years	253,680		287,180
Computer equipment	3-5 years	768,620		1,414,517
Leasehold improvements	3-15 years	2,387,626		2,308,246
Assets in progress	N/A	210,189		60,600
		8,885,796		9,214,209
Less: accumulated depreciation and amortization		7,371,324		7,621,689
Equipment and leasehold improvements, net		$	1,514,472	$	1,592,520

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The income tax provision in 2016 and 2015 consisted of the following:



Year Ended June 30,	2016		2015
Current:
Federal	$	169,350	$	(100,126	)
State	2,675		(167,282		)
Deferred	702,013		284,783
Total income tax provision	$	874,038	$	17,375

Schedule of Effective Income Tax Rate Reconciliation

The 2016 and 2015 tax results in an effective rate different than the federal statutory rate because of the following:



Year Ended June 30,	2016			2015
Federal income tax expense at statutory rate	$	769,433		$	169,996
State income tax expense (benefit), net of federal income tax benefit	91,660			(21,442		)
Decrease in valuation allowance	(370,000		)	—
Stock-based compensation	447,180			53,596
Adjustments for unrecognized tax benefits	—			(175,000		)
Other	(64,235		)	(9,775		)
Total income tax provision	$	874,038		$	17,375

Schedule of Deferred Tax Assets and Liabilities

Temporary differences which give rise to deferred income tax assets and liabilities at June 30, 2016 and June 30, 2015 include:



	2016			2015
Deferred income tax assets:
Deferred compensation	$	864,954		$	835,270
Stock-based compensation	603,159			889,325
Accrued expenses and reserves	1,390,910			2,075,601
Federal and state net operating loss carryforwards	418,296			463,237
Valuation allowance	(409		)	(370,409		)
Equipment and leasehold improvements	—			11,566
Other	5,979			14,650
Total deferred income tax assets	3,282,889			3,919,240

Deferred income tax liabilities:
Equipment and leasehold improvements	(67,390		)	—
Other	(2,943		)	(4,671		)
Net deferred income tax assets	$	3,212,556		$	3,914,569

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2016		2015
Unrecognized tax benefits at beginning of year	$	—	$	175,000
Reductions based on settlements with taxing authorities	—		(175,000		)
Unrecognized tax benefits at end of year	$	—	$	—

Summary of Valuation Allowance

The following are the changes in the valuation allowance:



Year Ended June 30,	Balance, beginning of year			Increase in valuation allowance	Release of valuation allowance	Balance, end of year
2016	$	(370,409	)	—	370,000	$	(409	)
2015	$	(370,409	)	—	—	$	(370,409	)

PRODUCT WARRANTY OBLIGATIONS (Tables)

12 Months Ended

Jun. 30, 2016

Standard Product Warranty Disclosure [Abstract]

Schedule of Product Warranty Liability

Changes to the product warranty obligations for the years ended June 30, 2016 and 2015 are as follows:



Year Ended June 30,	Balance, beginning of year		Provision charged to expense	Warranty expenses incurred		Balance, end of year
2016	$	531,891	214,827	(263,188	)	$	483,530
2015	$	722,624	103,925	(294,658	)	$	531,891

STOCK OPTIONS (Tables)

12 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

For the options granted in 2016 and 2015, the Company used the following weighted-average assumptions:



	2016		2015
Expected stock price volatility	50	%	43	%
Risk free interest rate	1.48	%	1.52	%
Expected dividend yield	4.00	%	4.00	%
Expected forfeitures	5.60	%	1.50	%
Expected life of options	4.5 years		4.6 years

Schedule of Share-based Compensation - Options Granted, Exercised, Cancelled, or Available for Exercise

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



	Number of Shares		Stock Options Price Range	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life - Years	Aggregate Intrinsic Value of In-The- Money Options
Shares under option at June 30, 2014	2,066,000		$3.90 - $13.09	$	5.97	4.13	$	—
Granted	470,000		$2.24 - $3.30	$	3.14
Exercised	—		—	$	—
Expired	(201,000	)	$4.97 - $13.09	$	7.06
Forfeited	(90,000	)	$3.00 - $6.00	$	4.69
Shares under option at June 30, 2015	2,245,000		$2.24 - $13.09	$	5.33	3.69	$	1,676
Granted	410,000		$2.05 - $2.83	$	2.72
Exercised	—		—	$	—
Expired	(458,000	)	$3.00 - $13.09	$	6.25
Forfeited	(57,000	)	$3.00 - $6.00	$	4.34
Shares under option at June 30, 2016	2,140,000		$2.05 - $9.74	$	4.66	3.51	$	—
Exercisable as of June 30, 2015	1,134,500		$3.90 - $13.09	$	6.01	2.18	$	—
Exercisable as of June 30, 2016	1,084,000		$2.24 - $9.74	$	5.57	2.47	$	—

Intrinsic Value and Cash Received from Stock Option Exercises and Fair Value of Vested 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, 2016 and 2015 is as follows:



	2016		2015
Total intrinsic value of stock options exercised	$	—	$	—
Cash received from stock option exercises	$	—	$	—
Total fair value of stock options vested	$	583,727	$	696,958

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Wholly owned former subsidiary, ownership percentage	100.00%
Research and development expensed	$ 91,259	$ 0
Advertising costs expensed	$ 143,518	$ 154,505

UNAUTHORIZED TRANSACTION RELATED RECOVERIES (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Unauthorized Transactions, Costs and Related Recoveries, Net [Abstract]
Legal fees incurred		$ 1,714,074	$ 152,492
Gross proceeds from the settlement of the third party lawsuit	$ 3,000,000	3,000,000	0
Proceeds from asset forfeitures		(75)	(121,465)
Unauthorized transaction related (recoveries) costs, net		$ (1,286,001)	$ 31,027

ACCOUNTS RECEIVABLE, CHANGE IN ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Receivables [Abstract]
Provision for doubtful accounts	$ 28,514	$ 25,725
Amounts written-off	447	20,174
Recoveries of previously written-off	1,056	0
Allowance for doubtful accounts	$ 55,175	$ 26,052	$ 20,501

INVENTORIES, COMPONENTS OF INVENTORIES (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 3,466,907	$ 5,374,333
Finished goods	7,570,026	6,246,072
Gross inventory	11,036,933	11,620,405
Reserve for obsolete inventory	(2,441,448)	(4,437,965)
Total inventories	$ 8,595,485	$ 7,182,440

EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	$ 8,885,796	$ 9,214,209
Less: accumulated depreciation and amortization	7,371,324	7,621,689
Equipment and leasehold improvements, net	1,514,472	1,592,520
Machinery and equipment
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	592,189	642,200
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	373,716	374,616
Tooling
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	4,299,776	4,126,850
Display booths
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	253,680	287,180
Computer equipment
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	768,620	1,414,517
Leasehold improvements
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	2,387,626	2,308,246
Assets in progress
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	$ 210,189	$ 60,600
Minimum [Member] \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Furniture and office equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Tooling
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Display booths
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Computer equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Minimum [Member] \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum [Member] \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Maximum [Member] \| Furniture and office equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Maximum [Member] \| Tooling
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Maximum [Member] \| Display booths
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Maximum [Member] \| Computer equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Maximum [Member] \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years

INCOME TAXES, TAX PROVISION (Details) - USD ($)	12 Months Ended
INCOME TAXES, TAX PROVISION (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Federal	$ 169,350	$ (100,126)
State	2,675	(167,282)
Deferred Federal, State and Local, Tax Expense (Benefit)	702,013	284,783
Total income tax provision	$ 874,038	$ 17,375

INCOME TAXES, EFFECTIVE TAX RATE RECONCILIATION (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Federal income tax expense at statutory rate	$ 769,433	$ 169,996
State income tax expense (benefit), net of federal income tax benefit	91,660	(21,442)
Decrease in valuation allowance	(370,000)	0
Stock-based compensation	447,180	53,596
Adjustments for unrecognized tax benefits	0	(175,000)
Other	(64,235)	(9,775)
Total income tax provision	$ 874,038	$ 17,375

INCOME TAXES, TEMPORARY DIFFERENCES (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Deferred Income Tax Assets:
Deferred compensation	$ 864,954	$ 835,270
Stock-based compensation	603,159	889,325
Accrued expenses and reserves	1,390,910	2,075,601
Federal and state net operating loss carryforwards	418,296	463,237
Valuation allowance	(409)	(370,409)
Equipment and leasehold improvements	0	11,566
Other	5,979	14,650
Total deferred income tax assets	3,282,889	3,919,240
Deferred Income Tax Liabilities:
Equipment and leasehold improvements	(67,390)	0
Other	(2,943)	(4,671)
Net deferred income tax assets	$ 3,212,556	$ 3,914,569

INCOME TAXES, NARRATIVE (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits that would impact effective tax rate	$ 0	$ 0
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Wisconsin Department of Revenue [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	5,892,509
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 324,326

INCOME TAXES, UNRECOGNIZED TAX BENEFITS (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of year	$ 0	$ 175,000
Reductions based on settlements with taxing authorities	0	(175,000)
Unrecognized tax benefits at end of year	$ 0	$ 0

INCOME TAXES, VALUATION ALLOWANCE (Details) - USD ($)	12 Months Ended
INCOME TAXES, VALUATION ALLOWANCE (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	$ (370,409)
Balance, end of year	(409)	$ (370,409)
Valuation Allowance of Deferred Tax Assets [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of year	(370,409)	(370,409)
Increase in valuation allowance	0	0
Release of valuation allowance	370,000	0
Balance, end of year	$ (409)	$ (370,409)

CREDIT FACILITY (Details) - USD ($)		12 Months Ended
CREDIT FACILITY (Details) - USD ($)	May 12, 2010	Jun. 30, 2016	Jun. 30, 2015	Jul. 23, 2014
Line of Credit Facility [Line Items]
Revolving secured credit facility, maximum borrowing available	$ 8,000,000			$ 5,000,000
Line of credit sublimit	$ 2,000,000
Interest Expense		$ 6,075	$ 12,813
Minimum [Member]
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.30%
Minimum [Member] \| Prime Rate [Member]
Line of Credit Facility [Line Items]
Interest rate, percentage spread, depending on Company's leverage ratio	0.00%
Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate, percentage spread, depending on Company's leverage ratio	2.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.45%
Maximum [Member] \| Prime Rate [Member]
Line of Credit Facility [Line Items]
Interest rate, percentage spread, depending on Company's leverage ratio	0.75%
Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate, percentage spread, depending on Company's leverage ratio	3.00%

ACCRUED LIABILITIES (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Accrued Liabilities, Current [Abstract]
Cooperative advertising and promotion allowances	$ 479,645	$ 400,114
Product warranty obligations	305,275	312,664
Customer credit balances	47,753	261,977
Current deferred compensation	150,000	150,000
Accrued returns	140,918	97,026
Employee benefits	83,113	93,568
Legal and professional fees	127,329	70,000
Management bonuses and profit-sharing	147,450	71,381
Sales commissions and bonuses	70,050	68,890
Other	50,119	49,407
Total accrued liabilities	$ 1,601,652	$ 1,575,027

PRODUCT WARRANTY OBLIGATIONS (Details) - USD ($)	12 Months Ended
PRODUCT WARRANTY OBLIGATIONS (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of year	$ 531,891	$ 722,624
Provision charged to expense	214,827	103,925
Warranty expenses incurred	(263,188)	(294,658)
Balance, end of year	$ 483,530	$ 531,891

DEFERRED COMPENSATION (Details) - USD ($)	12 Months Ended
DEFERRED COMPENSATION (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Distributions Paid	$ 150,000	$ 50,000
Liability	$ 2,187,714	$ 2,107,486
Former Chairman of the Board
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Discount factor	2.60%	2.70%
Liability	$ 772,026	$ 820,720
Expense	$ 101,306	$ 166,414
Officer of Company
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Discount factor	4.80%	4.80%
Liability	$ 1,565,688	$ 1,436,766
Expense	$ 128,922	$ (179,019)
Cash compensation - percent of base salary times number of years of service	2.00%

INCOME (LOSS) PER COMMON AND COMMON STOCK EQUIVALENT SHARE (Details) - shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Basic and Diluted [Abstract]
Weighted average number of shares outstanding	7,382,706	7,382,706
Common stock equivalents related to stock option grants that were included in the computation of the weighted-average number of shares outstanding	0	0
Shares under option excluded as anti-dilutive	2,140,000	2,245,000

STOCK OPTIONS, NARRATIVE (Details) - USD ($)	12 Months Ended
STOCK OPTIONS, NARRATIVE (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jul. 25, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock added to stock option plan			2,000,000
Options available for future grants	1,374,308
Unrecognized compensation costs related to stock options granted	$ 690,190
Weighted average period over which cost is expected to be recognized	2 years 3 months 19 days
Stock-based compensation expense	$ 444,175	$ 630,539
Cash received from stock option exercises	$ 0	$ 0
Per share weighted average fair value of the stock options granted	$ 0.75	$ 0.73
Shares granted	410,000	470,000
Weighted average exercise price of share granted in period	$ 2.72	$ 3.14
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period	3 years
Option term	5 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period	5 years
Option term	10 years

STOCK OPTIONS, WEIGHTED AVERAGE ASSUMPTIONS (Details)	12 Months Ended
STOCK OPTIONS, WEIGHTED AVERAGE ASSUMPTIONS (Details)	Jun. 30, 2016 Rate	Jun. 30, 2015 Rate
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected stock price volatility	50.00%	43.00%
Risk free interest rate	1.48%	1.52%
Expected dividend yield	4.00%	4.00%
Expected forfeitures	5.60%	1.50%
Expected life of options	4 years 6 months	4 years 7 months 7 days

STOCK OPTIONS, OPTIONS GRANTED, EXERCISED, CANCELLED OR AVAILABLE FOR EXERCISE (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Options Shares [Roll Forward]
Shares under option, beginning of period	2,245,000	2,066,000
Granted	410,000	470,000
Exercised	0	0
Expired	(458,000)	(201,000)
Forfeited	(57,000)	(90,000)
Shares under option, end of period	2,140,000	2,245,000	2,066,000
Excercisable	1,084,000	1,134,500
Exercise Price Range [Rollforward]
Stock Option Exercise Price Range, Shares under option, Lower Range Limit, Beginning Balance	$ 2.24	$ 3.90
Stock Option Exercise Price Range, Shares under option, Upper Range Limit, Beginning Balance	13.09	13.09
Stock Option Exercise Price Range, Granted, Lower Range Limit	2.05	2.24
Stock Option Exercise Price Range, Granted, Upper Range Limit	2.83	3.30
Stock Option Exercise Price Range, Exercised, Lower Range Limit	0.00	0.00
Stock Option Exercise Price Range, Exercised, Upper Range Limit	0.00	0.00
Stock Option Exercise Price Range, Expired, Lower Range Limit	3.00	4.97
Stock Option Exercise Price Range, Expired, Upper Range Limit	13.09	13.09
Stock Option Exercise Price Range, Forfeited, Lower Range Limit	3.00	3.00
Stock Option Exercise Price Range, Forfeited, Upper Range Limit	6.00	6.00
Stock Option Exercise Price Range, Shares under option, Lower Range Limit, Ending Balance	2.05	2.24	$ 3.90
Stock Option Exercise Price Range, Shares under option, Upper Range Limit, Ending Balance	9.74	13.09	13.09
Stock option exercise price range, exercisable, lower range limit	2.24	3.90
Stock option exercise price range, exercisable, upper range limit	9.74	13.09
Weighted average exercise price [Roll Forward]
Shares under option, Weighted Average Exercise Price, Beginning Balance	5.33	5.97
Granted, Weighted Average Exercise Price	2.72	3.14
Exercised, Weighted Average Exercise Price	0.00	0.00
Expired, Weighted Average Exercise Price	6.25	7.06
Forfeited, Weighted Average Exercise Price	4.34	4.69
Shares under option,Weighted Average Exercise Price, Ending Balance	4.66	5.33	$ 5.97
Exercisable, weighted average exercise price	$ 5.57	$ 6.01
Weighted average remaining contractual life, shares under option	3 years 6 months 5 days	3 years 8 months 7 days	4 years 1 month 17 days
Interest Expense [Abstract]
Exercisable, weighted average remaining contractual life	2 years 5 months 20 days	2 years 2 months 5 days
Aggregate intrinsic value of in-the-money options, shares under option	$ 0	$ 1,676	$ 0
Exercisable, aggregate intrinsic value of in-the-money options	$ 0	$ 0

STOCK OPTIONS, INTRINSIC VALUE AND CASH RECEIVED ON EXERCISES, FAIR VALUE OF VESTED OPTIONS (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of stock options exercised	$ 0	$ 0
Cash received from stock option exercises	0	0
Total fair value of stock options vested	$ 583,727	$ 696,958

STOCK REPURCHASE PROGRAM (Details)	12 Months Ended
STOCK REPURCHASE PROGRAM (Details)	Jun. 30, 2016 USD ($)
Stock Purchase Agreement Disclosure [Abstract]
Maximum amount Board will approve per repurchase	$ 2,000,000
Authorized amount	45,500,000
Inception to date repurchased	$ 43,360,247

ADDITIONAL CASH FLOW INFORMATION (Details) - USD ($)	12 Months Ended
ADDITIONAL CASH FLOW INFORMATION (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Accounts receivable	$ 735,388	$ (311,182)
Inventories	1,413,045	127,508
Income taxes receivable	377,976	(903,745)
Prepaid expenses and other current assets	(66,945)	199,844
Income taxes payable	0	(175,000)
Accounts payable	(205,598)	(292,501)
Accrued liabilities	26,625	(2,428,446)
Other liabilities	(40,972)	(117,545)
Net change	2,679,409	2,125,917
Net cash paid (refunded) during the year for:
Income taxes	558,202	(985,585)
Interest	$ 6,075	$ 12,813

FOREIGN SALES AND SIGNIFICANT CUSTOMERS, SALES BY COUNTRY (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 26,001,346	$ 24,230,056
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	15,496,763	16,779,312
Non-U.S. Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	10,504,583	7,450,744
Sweden
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	4,322,582	3,677,225
Czech Republic
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,231,731	441,754
Hong Kong
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,121,609	0
People's Republic of China
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	969,848	193,374
Malaysia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	669,782	262,600
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	400,672	498,026
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,788,359	$ 2,377,765

FOREIGN SALES AND SIGNIFICANT CUSTOMERS FOREIGN SALES AND SIGNIFICANT CUSTOMERS, NARRATIVE (Details) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Jun. 30, 2016 Rate	Jun. 30, 2015 Rate
Five largest customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	47.00%	45.00%
Single Scandinavian Customer [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17.00%	15.00%
Single United States Customer [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	11.00%	8.00%

ACCOUNTS RECEIVABLE, NARRATIVE (Details)	Jun. 30, 2016 Rate	Jun. 30, 2015 Rate
Receivables [Abstract]
Trade accounts receivable, two largest customers, percentage	18.00%	26.00%
Foreign trade accounts receivable, denominated in US dollars, percentage	28.00%	5.00%

INVENTORIES, NARRATIVE (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Inventory Disclosure [Abstract]
LIFO reserve	$ 471,174	$ 753,439

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Term	5 years
Annual lease commitment	$ 380,000
Rent expense	$ 380,000	$ 380,000