XML 45 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
UNAUTHORIZED TRANSACTION RELATED RECOVERIES (Notes)
3 Months Ended
Sep. 30, 2013
Unauthorized Transactions, Related Recoveries, Net [Abstract]  
Unauthorized Transaction Related Recoveries
UNAUTHORIZED TRANSACTION RELATED RECOVERIES
 
In 2009, Koss Corporation (the "Company") learned of significant unauthorized transactions, details of which have been disclosed in depth in the Company's previous periodic reports filed with the SEC. The unauthorized transaction related recoveries, net line in the Condensed Statements of Income is comprised of legal defense costs, legal fees related to certain claims against third parties (see Note 14), and recoveries related to the unauthorized transactions which are summarized below. For the three months ended September 30, 2013 and 2012, these costs and recoveries were as follows:
 
 
Three Months Ended
 
 
September 30
 
 
2013
 
2012
Legal fees incurred
 
$
107,813

 
$
71,304

 
 
 
 
 
Recoveries:
 
 
 
 
    Insurance proceeds
 

 
(13,108
)
    Proceeds from asset forfeitures
 
(816,529
)
 
(440,923
)
Total recoveries
 
(816,529
)
 
(454,031
)
 
 
 
 
 
Unauthorized transaction related recoveries, net
 
$
(708,716
)
 
$
(382,727
)