Koss Corp. (KOSS, Financial) filed Amended Annual Report for the period ended 2009-06-30.
Koss Corp. has a market cap of $38.8 million; its shares were traded at around $5.26 with a P/E ratio of 23.9 and P/S ratio of 1. The dividend yield of Koss Corp. stocks is 4.5%.KOSS is in the portfolios of Chuck Royce of Royce& Associates.
As previously disclosed, approximately $31,500,000 was misappropriated from fiscal year 2005 through December 2009. Approximately $30,900,000 or 98.1% of the total $31,500,000 of the unauthorized transactions was misappropriated by circumventing the Companys internal controls and other operating procedures for the payment of Company expenditures by using wire transfers or cashiers checks to pay for Ms. Sachdevas personal expenditures. Of the $30,900,000, approximately $8,500,000 and $5,100,000 was misappropriated by use of these means during 2009 and 2008, respectively. Misappropriations by use of wire transfers or cashiers checks totaled $10,300,000 during fiscal year 2010. The balance of the misappropriations of approximately $600,000, or 1.9% from the total amount of $31,500,000 from fiscal year 2005 through December 2009, was carried out by circumventing the Companys internal controls and other operating procedures involving the Companys petty cash system, manual check system and travelers checks policy. Out of the estimated $600,000 of these types of transactions, approximately $91,000 and $110,000 occurred during years 2009 and 2008, respectively. Approximately $107,000 of misappropriations involving the use of the Companys petty cash system, manual check system and travelers checks policy occurred during 2010.
The amount expensed on engineering and research activities relating to the development of new products or the improvement of existing products was approximately $1,559,000 during 2009 as compared with $726,000 during 2008. These activities were conducted by both Company personnel and outside consultants.
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Koss Corp. has a market cap of $38.8 million; its shares were traded at around $5.26 with a P/E ratio of 23.9 and P/S ratio of 1. The dividend yield of Koss Corp. stocks is 4.5%.KOSS is in the portfolios of Chuck Royce of Royce& Associates.
Highlight of Business Operations:
The aggregate market value of the common voting stock held by nonaffiliates of the registrant as of December 31, 2008 was approximately $10,718,152 (based on the $4.65 per share closing price of the Companys common stock as reported on the NASDAQ Stock Market on December 31, 2008, as adjusted for the stock split on December 1, 2009).As previously disclosed, approximately $31,500,000 was misappropriated from fiscal year 2005 through December 2009. Approximately $30,900,000 or 98.1% of the total $31,500,000 of the unauthorized transactions was misappropriated by circumventing the Companys internal controls and other operating procedures for the payment of Company expenditures by using wire transfers or cashiers checks to pay for Ms. Sachdevas personal expenditures. Of the $30,900,000, approximately $8,500,000 and $5,100,000 was misappropriated by use of these means during 2009 and 2008, respectively. Misappropriations by use of wire transfers or cashiers checks totaled $10,300,000 during fiscal year 2010. The balance of the misappropriations of approximately $600,000, or 1.9% from the total amount of $31,500,000 from fiscal year 2005 through December 2009, was carried out by circumventing the Companys internal controls and other operating procedures involving the Companys petty cash system, manual check system and travelers checks policy. Out of the estimated $600,000 of these types of transactions, approximately $91,000 and $110,000 occurred during years 2009 and 2008, respectively. Approximately $107,000 of misappropriations involving the use of the Companys petty cash system, manual check system and travelers checks policy occurred during 2010.
The amount expensed on engineering and research activities relating to the development of new products or the improvement of existing products was approximately $1,559,000 during 2009 as compared with $726,000 during 2008. These activities were conducted by both Company personnel and outside consultants.
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