Procyon (PCYN) 10-K 6 Oct 20 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2020	Sep. 22, 2020	Sep. 21, 2020
Document Information [Line Items]
Entity Registrant Name	PROCYON CORP
Entity Central Index Key	0000812306
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)			8,087,388
Entity Public Float		$ 799,558
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Jun. 30, 2019
CURRENT ASSETS
Cash	$ 665,834	$ 290,287
Certificates of Deposit, plus accrued interest	155,132	153,951
Accounts Receivable, less allowance for doubtful accounts of $9,408 and $6,719 respectively	311,043	419,630
Inventories	758,516	485,433
Prepaid Expenses	183,138	244,494
TOTAL CURRENT ASSETS	2,073,663	1,593,795
PROPERTY AND EQUIPMENT, NET	452,855	488,460
OTHER ASSETS
Deposits	4,192	4,192
Inventories	83,812	123,204
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	30,245
Deferred Tax Asset, Net of Valuation Allowance of $144,620 and $171,381, respectively	159,874	208,281
Assets, Noncurrent, Excluding Property, Plant and Equipment	295,123	352,677
TOTAL ASSETS	2,821,641	2,434,932
CURRENT LIABILITIES
Accounts Payable	167,459	147,445
PPP Loan	57,028
Accrued Expenses	289,466	228,490
TOTAL CURRENT LIABILITIES	513,953	375,935
LONG TERM LIABILITIES
PPP Loan	143,972
TOTAL LONG TERM LIABILITIES	143,972
TOTAL LIABILITIES	657,925	375,935
COMMITMENTS AND CONTINGENCIES (NOTE G)
STOCKHOLDERS' EQUITY
Preferred Stock
Common Stock, no par value, 80,000,000 shares authorized; 8,087,388 and 8,087,388 shares issued and outstanding, respectively	4,444,766	4,444,766
Paid-in Capital	15,885	15,885
Accumulated Deficit	(2,423,795)	(2,528,514)
TOTAL STOCKHOLDERS' EQUITY	2,163,716	2,058,997
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,821,641	2,434,932
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock	$ 126,860	$ 126,860

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands	Jun. 30, 2020	Jun. 30, 2019
Accounts Receivable, allowance for doubtful accounts	$ 9,408	$ 6,719
Valuation allowance	$ 144,619	$ 171,381
Preferred stock, authorized (in shares)	496,000,000	496,000,000
Preferred stock, issued (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	80,000,000	80,000,000
Common stock, outstanding (in shares)	8,087,388	8,087,388
Common stock, issued (in shares)	8,087,388	8,087,388
Convertible Preferred Stock [Member]
Preferred stock, authorized (in shares)	4,000,000	4,000,000
Preferred stock, issued (in shares)	167,100	167,100
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, outstanding (in shares)	167,100	167,100

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
NET SALES	$ 4,334,088	$ 4,191,188
COST OF SALES	1,134,675	1,141,602
GROSS PROFIT	3,199,413	3,049,586
OPERATING EXPENSES
Salaries and Benefits	1,729,688	1,534,407
Selling, General and Administrative	1,316,709	1,418,106
Operating Costs and Expenses, Total	3,046,397	2,952,513
INCOME FROM OPERATIONS	153,016	97,073
OTHER INCOME
(Loss) on Disposal of Assets	(4,697)
Other Income	10,000
Interest Income	1,746	2,240
Nonoperating Income (Expense), Total	7,049	2,240
INCOME BEFORE INCOME TAXES	160,065	99,313
INCOME TAX EXPENSE	(48,407)	(72,089)
NET INCOME	111,658	27,224
Dividend requirements on preferred stock	(16,710)	(16,960)
Basic net income available to common shares	$ 94,948	$ 10,264
Basic net income per common share (in dollars per share)	$ 0.01	$ 0
Weighted average number of common shares outstanding (in shares)	8,087,388	8,087,388
Diluted net income per common share (in dollars per share)	$ 0.01	$ 0
Weighted average number of common shares outstanding, diluted (in shares)	8,319,488	8,319,488

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member]Preferred Stock [Member]Convertible Preferred Stock [Member]	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, Appropriated [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Preferred Stock [Member]Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings, Appropriated [Member]	Total
Balance (in shares) at Jun. 30, 2018						177,100	8,077,388
Balance at Jun. 30, 2018						$ 136,860	$ 4,434,766	$ 15,885	$ (2,555,738)	$ 2,031,773
Net Income (Loss)									87,280	87,280
Balance (in shares) at Sep. 30, 2018						177,100	8,077,388
Balance at Sep. 30, 2018						$ 136,860	$ 4,434,766	15,885	(2,468,458)	2,119,053
Balance (in shares) at Jun. 30, 2018						177,100	8,077,388
Balance at Jun. 30, 2018						$ 136,860	$ 4,434,766	15,885	(2,555,738)	2,031,773
Net Income (Loss)										27,224
Balance (in shares) at Jun. 30, 2019						167,100	8,087,388
Balance (Accounting Standards Update 2016-02 [Member]) at Jun. 30, 2019				$ (6,939)	$ (6,939)
Balance at Jun. 30, 2019						$ 126,860	$ 4,444,766	15,885	(2,528,514)	2,058,997
Balance (in shares) at Sep. 30, 2018						177,100	8,077,388
Balance at Sep. 30, 2018						$ 136,860	$ 4,434,766	15,885	(2,468,458)	2,119,053
Net Income (Loss)									(68,067)	(68,067)
Preferred Stock Converted to Common (in shares)						(10,000)	10,000
Preferred Stock Converted to Common						$ (10,000)	$ 10,000
Balance (in shares) at Dec. 31, 2018						167,100	8,087,388
Balance at Dec. 31, 2018						$ 126,860	$ 4,444,766	15,885	(2,536,525)	2,050,986
Net Income (Loss)									65,021	65,021
Balance (in shares) at Mar. 31, 2019						167,100	8,087,388
Balance at Mar. 31, 2019						$ 126,860	$ 4,444,766	15,885	(2,471,504)	2,116,007
Net Income (Loss)									(57,010)	(57,010)
Balance (in shares) at Jun. 30, 2019						167,100	8,087,388
Balance (Accounting Standards Update 2016-02 [Member]) at Jun. 30, 2019				(6,939)	(6,939)
Balance at Jun. 30, 2019						$ 126,860	$ 4,444,766	15,885	(2,528,514)	2,058,997
Net Income (Loss)									83,840	83,840
Balance (in shares) at Sep. 30, 2019						167,100	8,087,388
Balance at Sep. 30, 2019						$ 126,860	$ 4,444,766	15,885	(2,451,613)	2,135,898
Balance (in shares) at Jun. 30, 2019						167,100	8,087,388
Balance (Accounting Standards Update 2016-02 [Member]) at Jun. 30, 2019				$ (6,939)	$ (6,939)
Balance at Jun. 30, 2019						$ 126,860	$ 4,444,766	15,885	(2,528,514)	2,058,997
Net Income (Loss)										111,658
Balance (in shares) at Jun. 30, 2020						167,100	8,087,388
Balance at Jun. 30, 2020						$ 126,860	$ 4,444,766	15,885	(2,423,795)	2,163,716
Balance (in shares) at Sep. 30, 2019						167,100	8,087,388
Balance at Sep. 30, 2019						$ 126,860	$ 4,444,766	15,885	(2,451,613)	2,135,898
Net Income (Loss)									(204)	(204)
Balance (in shares) at Dec. 31, 2019						167,100	8,087,388
Balance at Dec. 31, 2019						$ 126,860	$ 4,444,766	15,885	(2,451,817)	2,135,694
Net Income (Loss)									55,929	55,929
Balance (in shares) at Mar. 31, 2020						167,100	8,087,388
Balance at Mar. 31, 2020						$ 126,860	$ 4,444,766	15,885	(2,395,888)	2,191,623
Net Income (Loss)									(27,907)	(27,907)
Balance (in shares) at Jun. 30, 2020						167,100	8,087,388
Balance at Jun. 30, 2020						$ 126,860	$ 4,444,766	$ 15,885	$ (2,423,795)	$ 2,163,716

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 111,658	$ 27,224
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	53,942	52,646
Increase in Allowance for Doubtful Accounts	2,689	3,915
Right of Use Asset Amortization	(30,245)
Adoption of ASC 842	(6,939)
Deferred Income Taxes	48,407	72,089
Accrued Interest on Certificates of Deposit		(494)
Loss on Disposal of Assets	4,697
Decrease (increase) in:
Accounts Receivable	105,898	(51,236)
Inventory	(233,691)	(31,722)
Prepaid Expenses	61,356	(73,154)
Increase (decrease) in:
Accounts Payable	20,014	51,973
Accrued Expenses	60,976	(404)
NET CASH PROVIDED BY OPERATING ACTIVITIES	198,772	50,837
CASH FLOW FROM INVESTING ACTIVITIES
Redemption of Certificate of Deposit	(1,181)
Purchase of Property & Equipment	(23,044)	(28,753)
NET CASH (USED IN) INVESTING ACTIVITIES	(24,225)	(28,753)
CASH FLOW FROM FINANCING ACTIVITIES
Payments on Capital Lease		(2,110)
Proceeds from PPP Loan	201,000
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	201,000	(2,110)
NET CHANGE IN CASH	375,547	19,974
CASH AT BEGINNING OF THE YEAR	290,287	270,313
CASH AT END OF THE YEAR	665,834	290,287
SUPPLEMENTAL DISCLOSURES
Interest Paid
Taxes Paid

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals) - shares	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Preferred Stock Exchanged for Common Stock (in shares)	10,000
Preferred Stock Exchanged for Common Stock (in shares)	10,000

Note A - Summary of Significant

Note A - Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Activity Procyon Corporation has two July 2009, third July 31, 2009, no Principles of Consolidation The consolidated financial statements include the accounts of Procyon Corporation and its wholly-owned subsidiaries, AMERX and Sirius. All material inter-company accounts and transactions are eliminated. 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, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For the purpose of the Statements of Cash Flows, the Company considers cash-on-hand, demand deposits in banks and highly liquid investments purchased with an original maturity of three Concentration of Credit Risk The Company maintains its cash at various financial institutions. All noninterest-bearing transaction accounts are fully insured by the Federal Deposit Insurance Corporation, regardless of the balance of the account, at all insured institutions. At June 30, 2020 2019, $334,265 $0, Revenue Recognition The Company recognizes revenue in accordance with the Financial Accounting Standards Board's (FASB) release of Accounting Standards Update (ASU) 2014 09, 606 five 1 2 3 4 5 Accounts Receivable and Concentration of Credit Risk AMERX grants credit to customers, most of whom are national pharmaceutical distributors, drug stores nationwide and physicians. AMERX wholesales its products to national pharmaceutical distributors and drug stores at a sales term of 2/10, 30 2/10 30 The valuation of accounts receivable is based upon the credit-worthiness of customers as well as historical collection experience. Estimating the credit worthiness of customers and recoverability of customer accounts requires us to exercise considerable judgment. Allowances for doubtful accounts are recorded as a selling, general and administrative expense for estimated amounts expected to be uncollectible from third June 30, 2020 2019, $9,400 $6,700, 3% 2% Inventories Inventories are valued at the lower of average cost or market determined by the first first not 12 Property and Equipment Property and equipment are stated at cost. Depreciation is computed on a straight-line basis over their estimated useful lives. Leased equipment is recorded at it's fair market value at the beginning of the lease term and is depreciated over the life of the equipment. Depreciation on leased equipment is included in depreciation expense. Deferred Income Taxes Deferred income taxes are recognized for the expected tax consequences in future years for differences between the tax bases of assets and liabilities and their financial reporting amounts, based upon exacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. The Company accounts for income taxes under Topic 740 $144,619 June 30, 2020. $171,381 June 30, 2019. Fair Value of Financial Instruments The carrying value of cash, accounts receivable, prepaid expenses, deposits, inventory, accounts payable and accrued expenses approximate fair value. Considerable judgement is required in interpreting market data to develop the estimates of fair value, and accordingly, the estimates are not Shipping and Handling Costs Shipping and handling costs incurred were approximately $157,000 $128,000 June 30, 2020, 2019, Advertising and Marketing The Company records advertising and marketing expenses in the periods in which they are incurred. During the years ended June 30, 2020 2019, $400,000 $576,000, Stock Based Compensation The Company maintained the Procyon Corporation 2009 "2009 December 8, 2019. 2009 December 8, 2009. The 2009 2009 500,000 500,000 2009 250,000 September 27, 2016, June 30, 2016. 40,000 July 1, 2016 25,000 July 1, 2017. ten June 30, 2020, no 2009 1,000,000 2009 250,000 not 1933. Eligible participants under the 2009 may may No 2009 Non-Qualified Stock Options granted under the 2009 not ten not 100% 2009 not ten five not 100% 110% The fair value of a stock option is determined using the Black-Scholes option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. The Black-Scholes option valuation model was developed for estimating the fair value of traded options that have no not not Agreements to grant 40,000 25,000 September 27, 2016 August 23, 2017, June 30, 2016 June 30, 2017, 718 718" Additional information with respect to stock option activity is as follows: Number of Weighted Average Outstanding at June 30, 2018 65,000 $ 0.15 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2019 65,000 $ 0.15 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2020 65,000 $ 0.15 Options exercisable at June 30, 2019 65,000 $ 0.17 Options exercisable at June 30, 2020 65,000 $ 0.17 Net Income Per Common Share The Company computes net income per share in accordance with Accounting Standards Codification Topic 260 260 260 Subsequent Events We have evaluated subsequent events through October 1, 2020,

Note B - Inventories

Note B - Inventories	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE B - INVENTORIES Inventories consisted of the following: June 30, 2020 June 30, 2019 Finished Goods $ 645,039 $ 448,395 Raw Materials 197,289 160,242 $ 842,328 $ 608,637 At June 30, 2020 2019, $83,812 $123,204 not one

Note C - Property and Equipment

Note C - Property and Equipment	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE C - PROPERTY AND EQUIPMENT Property and equipment consisted of the following: As of June 30, 2020 Owned Capitalized Leases Total Office Equipment $ 178,404 $ 11,364 $ 189,768 Furniture and Fixtures 40,304 40,304 Software 26,021 26,021 Leasehold improvements 95,329 95,329 Production Equipment 25,452 25,452 Building 492,559 492,559 Land 64,547 64,547 922,616 11,364 933,980 Less accumulated depreciation (469,761 ) (11,364 ) (481,125 ) $ 452,855 $ 0 $ 452,855 Depreciation expense was $53,942 June 30, 2020. As of June 30, 2019 Owned Capitalized Leases Total Office Equipment $ 163,288 $ 11,364 $ 174,652 Furniture and Fixtures 33,347 33,347 Software 60,754 60,754 Leasehold Improvements 95,329 95,329 Production Equipment 24,577 24,577 Building 492,559 492,559 Land 64,547 64,547 934,401 11,364 945,765 Less accumulated depreciation (445,941 ) (11,364 ) (457,305 ) $ 488,460 $ 0 $ 488,460 Depreciation expense was $52,646 June 30, 2019. In 2016, January 31, 2019. $3,788. June 30, 2020 2019.

Note D - Intangible Assets

Note D - Intangible Assets	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE D - INTANGIBLE ASSETS On June 30, 2017, $17,000. not 350,

Note E - Accrued Expenses

Note E - Accrued Expenses	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE E - ACCRUED EXPENSES Accrued expenses consist of the following at June 30, 2020 2019. 2020 2019 Accrued Payroll $ 119,756 $ 116,282 Accrued Paid Time Off 31,094 29,923 Accrued Professional Fees 49,278 44,901 Accrued Incentive Plan 51,746 27,660 Accrued Lease Liabiity 33,750 - Other 3,842 9,724 Total $ 289,466 $ 228,490

Note F - Line of Credit

Note F - Line of Credit	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE F - LINE OF CREDIT In fiscal 2019, $250,000 June 30, 2020 June 30, 2019, $0 Interest expense for the years ended June 30, 2020 2019 $0 $0, The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.

Note G - Paycheck Protection Pr

Note G - Paycheck Protection Program Loan	12 Months Ended
	Jun. 30, 2020
PPP Loan [Member]
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	NOTE G - PAYCHECK PROTECTION PROGRAM LOAN The Company applied for a loan with the Small Business Administration (the "SBA") Paycheck Protection Program ("PPP") of the Coronavirus Aid, Relief and Economic Security Act of 2020 $201,000 April 13, 2020. The Loan, which is evidenced by a promissory note (the "Note"), has a two April 13, 2022, 1.00% seven not may The Loan may eight April 13, 2020. Principal payments of $57,028 $143,972 June 30, 2021 2022,

Note H - Commitments and Contin

Note H - Commitments and Contingencies	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE H - COMMITMENTS AND CONTINGENCIES The Company leases warehouse office space under operating leases expiring through year 2021. June 30, 2020 2019 $29,193 $54,259, June 30, 2021 29,193 $ 29,193

Note I - Stockholders' Equity

Note I - Stockholders' Equity	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE I - STOCKHOLDERS' EQUITY During January 1995, 4,000,000 $.10 June 30, 2020, no $387,306 $2.32 June 30, 2020. The preferred stockholders have the right to convert each share of Series A Cumulative Convertible Preferred Stock into one one $1 $1 Share-based compensation expense recognized during the period is based on the value of the portion of share-based payment awards that is ultimately expected to vest. As share-based compensation expense recognized in the statement of operations is based on awards ultimately expected to vest, it can be reduced for estimated forfeitures. The ASC topic Stock Compensation requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The share based compensation charged against income for the periods ended June 30, 2020 2019 $0 $0

Note J - Earnings Per Share

Note J - Earnings Per Share	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE J - EARNINGS PER SHARE As required by Accounting Standards Codification Topic 260 260" Years Ended June 30, 2020 2019 Numerator: Net Income (Loss) $ 111,658 $ 27,224 Adjustment for basic earnings per share: Dividend requirements on preferred stock (16,710 ) (16,960 ) Numerator for basic earnings per share- Net income available to common stockholders $ 94,948 $ 10,264 Effect of dilutive securities: Numerator for diluted earnings per share- Net income available to common stockholder $ 94,948 $ 10,264 Denominator: Denominator for basic earnings per share- Weighted-average common shares 8,087,388 8,087,388 Effect of dilutive securities: Stock options 65,000 65,000 Weighted-average Dilutive potential common shares 167,100 167,100 Denominator for dilutive earnings per share- Adjusted weighted-average shares and assumed conversions 8,319,488 8,319,488 Basic Net Income per share $ 0.01 $ 0.00 Diluted Net Income per share $ 0.01 $ 0.00

Note K - Income Taxes and Avail

Note K - Income Taxes and Available Carryforward	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE K - INCOME TAXES AND AVAILABLE CARRYFORWARD As of June 30, 2020, $1,132,000. 2035.The 382 The components of the provision for income taxes expenses are attributable to continuing operations as follows: Year ended June Year ended June Current Federal $ - $ - State - - - - Deferred Federal $ (40,109 ) $ (59,730 ) State (8,298 ) (12,359 ) $ (48,407 ) $ (72,089 ) Deferred income taxes reflect the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows: Non-Current Deferred tax assets: NOL and contribution carryforwards $ 286,965 Accrued compensated absences 7,881 Accrued bonus 13,115 Allowance for doubtful accounts 2,384 310,345 Deferred tax (liabilities): Excess of tax over book depreciation (5,852 ) Total deferred tax (liabilities) (5,852 ) Net deferred tax asset (liability) 304,493 Valuation Allowance (144,619 ) Net deferred tax asset $ 159,874 The change in the valuation allowance is as follows: June 30, 2020 $ (144,619 ) June 30, 2019 (171,381 ) $ 26,761 The Company has approximately $106,000 June 30, 2020. $26,761. not $529,000 not $144,619 Income taxes for the years ended June 30, 2020 2019 25.35% 2020 2019 Expected benefit (provision) at US statutory rate $ (33,613 ) $ (20,856 ) State income tax net of federal benefit (provision) (6,955 ) (4,315 ) Nondeductible expense (6,412 ) (5,827 ) Change in estimates of losses carryforward (29,328 ) (563 ) Change in valuation allowance 26,761 (37,513 ) Other 1,140 (3,015 ) Income tax benefit (expense) $ (48,407 ) $ (72,089 ) The earliest tax year still subject to examination by taxing jurisdictions is fiscal year June 30, 2017. The Company performed a review of its uncertain tax positions in accordance with Accounting Standards Codification ASC 740 10 not During the year ended June 30, 2020, $201,000 19 2020 32, In addition, the Small Business Administration continues to revise its rules under the program in consultation with the Department of Treasury. Lenders also have urged Congress to take additional actions regarding the program to allow for additional funding and streamlining the forgiveness process for loans under certain amount. As a result of the opposition from businesses on the IRS Notice and the continually changing landscape of the program, the Company considered the expenses that qualify for loan forgiveness as deductible expenses when accounting for its tax provision for the year ended June 30, 2020.

Note L - Concentration of Suppl

Note L - Concentration of Supply Risk	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE L - CONCENTRATION OF SUPPLY RISK The Company's manufacturing and packaging activities are performed at a production facility owned and operated by a non-affiliated pharmaceutical manufacturer. At the present time, the manufacturer is the major source of the Company's wound care products. The sudden loss or failure of this manufacturer could significantly impair AMERX's ability to fulfill customer orders on a short-term basis and therefore, could materially and adversely affect the Company's operations. However, the Company has maintained a long-term relationship with this manufacturer and does not There were no June 30, 2020 2019,

Note M - Major Customer

Note M - Major Customer	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Major Customer Disclosure [Text Block]	NOTE M - MAJOR CUSTOMER During the year ended June 30, 2020 2019, no 10%

Note N - Research and Developme

Note N - Research and Development	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Research, Development, and Computer Software Disclosure [Text Block]	NOTE N - RESEARCH AND DEVELOPMENT AMERX incurred $23,093 $33,140 June 30, 2020 2019,

Note O - Pandemic Health Issue

Note O - Pandemic Health Issue	12 Months Ended
	Jun. 30, 2020
COVID 19 Health Issue [Member]
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	NOTE O - PANDEMIC HEALTH ISSUE At the time of release of these financial statements, the United States is experiencing a National Emergency related to persistent health issues. Management is unable to quantify the potential duration and economic impact of mandated closures by our National, State or Local governments.

Note P - Recent Accounting Pron

Note P - Recent Accounting Pronouncements	12 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE P - RECENT ACCOUNTING PRONOUNCEMENTS In May 2017, No. 2017 09, 718 June 30, 2019 No. 2017 09 On June 16, 2016, 2016 13, 326 December 15, 2019, December 15, 2018. No. 2016 13

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of Procyon Corporation and its wholly-owned subsidiaries, AMERX and Sirius. All material inter-company accounts and transactions are eliminated.
Use of Estimates, Policy [Policy Text Block]	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, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents For the purpose of the Statements of Cash Flows, the Company considers cash-on-hand, demand deposits in banks and highly liquid investments purchased with an original maturity of three
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk The Company maintains its cash at various financial institutions. All noninterest-bearing transaction accounts are fully insured by the Federal Deposit Insurance Corporation, regardless of the balance of the account, at all insured institutions. At June 30, 2020 2019, $334,265 $0,
Revenue [Policy Text Block]	Revenue Recognition The Company recognizes revenue in accordance with the Financial Accounting Standards Board's (FASB) release of Accounting Standards Update (ASU) 2014 09, 606 five 1 2 3 4 5
Accounts Receivable [Policy Text Block]	Accounts Receivable and Concentration of Credit Risk AMERX grants credit to customers, most of whom are national pharmaceutical distributors, drug stores nationwide and physicians. AMERX wholesales its products to national pharmaceutical distributors and drug stores at a sales term of 2/10, 30 2/10 30 The valuation of accounts receivable is based upon the credit-worthiness of customers as well as historical collection experience. Estimating the credit worthiness of customers and recoverability of customer accounts requires us to exercise considerable judgment. Allowances for doubtful accounts are recorded as a selling, general and administrative expense for estimated amounts expected to be uncollectible from third June 30, 2020 2019, $9,400 $6,700, 3% 2%
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at the lower of average cost or market determined by the first first not 12
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Depreciation is computed on a straight-line basis over their estimated useful lives. Leased equipment is recorded at it's fair market value at the beginning of the lease term and is depreciated over the life of the equipment. Depreciation on leased equipment is included in depreciation expense.
Income Tax, Policy [Policy Text Block]	Deferred Income Taxes Deferred income taxes are recognized for the expected tax consequences in future years for differences between the tax bases of assets and liabilities and their financial reporting amounts, based upon exacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. The Company accounts for income taxes under Topic 740 $144,619 June 30, 2020. $171,381 June 30, 2019.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The carrying value of cash, accounts receivable, prepaid expenses, deposits, inventory, accounts payable and accrued expenses approximate fair value. Considerable judgement is required in interpreting market data to develop the estimates of fair value, and accordingly, the estimates are not
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs incurred were approximately $157,000 $128,000 June 30, 2020, 2019,
Advertising Cost [Policy Text Block]	Advertising and Marketing The Company records advertising and marketing expenses in the periods in which they are incurred. During the years ended June 30, 2020 2019, $400,000 $576,000,
Share-based Payment Arrangement [Policy Text Block]	Stock Based Compensation The Company maintained the Procyon Corporation 2009 "2009 December 8, 2019. 2009 December 8, 2009. The 2009 2009 500,000 500,000 2009 250,000 September 27, 2016, June 30, 2016. 40,000 July 1, 2016 25,000 July 1, 2017. ten June 30, 2020, no 2009 1,000,000 2009 250,000 not 1933. Eligible participants under the 2009 may may No 2009 Non-Qualified Stock Options granted under the 2009 not ten not 100% 2009 not ten five not 100% 110% The fair value of a stock option is determined using the Black-Scholes option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. The Black-Scholes option valuation model was developed for estimating the fair value of traded options that have no not not Agreements to grant 40,000 25,000 September 27, 2016 August 23, 2017, June 30, 2016 June 30, 2017, 718 718" Additional information with respect to stock option activity is as follows: Number of Weighted Average Outstanding at June 30, 2018 65,000 $ 0.15 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2019 65,000 $ 0.15 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2020 65,000 $ 0.15 Options exercisable at June 30, 2019 65,000 $ 0.17 Options exercisable at June 30, 2020 65,000 $ 0.17
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Common Share The Company computes net income per share in accordance with Accounting Standards Codification Topic 260 260 260
Subsequent Events, Policy [Policy Text Block]	Subsequent Events We have evaluated subsequent events through October 1, 2020,

Note A - Summary of Significa_2

Note A - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Weighted Average Outstanding at June 30, 2018 65,000 $ 0.15 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2019 65,000 $ 0.15 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2020 65,000 $ 0.15 Options exercisable at June 30, 2019 65,000 $ 0.17 Options exercisable at June 30, 2020 65,000 $ 0.17

Note B - Inventories (Tables)

Note B - Inventories (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Inventory, Current and Noncorrent [Table Text Block]	June 30, 2020 June 30, 2019 Finished Goods $ 645,039 $ 448,395 Raw Materials 197,289 160,242 $ 842,328 $ 608,637

Note C - Property and Equipme_2

Note C - Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of June 30, 2020 Owned Capitalized Leases Total Office Equipment $ 178,404 $ 11,364 $ 189,768 Furniture and Fixtures 40,304 40,304 Software 26,021 26,021 Leasehold improvements 95,329 95,329 Production Equipment 25,452 25,452 Building 492,559 492,559 Land 64,547 64,547 922,616 11,364 933,980 Less accumulated depreciation (469,761 ) (11,364 ) (481,125 ) $ 452,855 $ 0 $ 452,855 As of June 30, 2019 Owned Capitalized Leases Total Office Equipment $ 163,288 $ 11,364 $ 174,652 Furniture and Fixtures 33,347 33,347 Software 60,754 60,754 Leasehold Improvements 95,329 95,329 Production Equipment 24,577 24,577 Building 492,559 492,559 Land 64,547 64,547 934,401 11,364 945,765 Less accumulated depreciation (445,941 ) (11,364 ) (457,305 ) $ 488,460 $ 0 $ 488,460

Note E - Accrued Expenses (Tabl

Note E - Accrued Expenses (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	2020 2019 Accrued Payroll $ 119,756 $ 116,282 Accrued Paid Time Off 31,094 29,923 Accrued Professional Fees 49,278 44,901 Accrued Incentive Plan 51,746 27,660 Accrued Lease Liabiity 33,750 - Other 3,842 9,724 Total $ 289,466 $ 228,490

Note H - Commitments and Cont_2

Note H - Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	2021 29,193 $ 29,193

Note J - Earnings Per Share (Ta

Note J - Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years Ended June 30, 2020 2019 Numerator: Net Income (Loss) $ 111,658 $ 27,224 Adjustment for basic earnings per share: Dividend requirements on preferred stock (16,710 ) (16,960 ) Numerator for basic earnings per share- Net income available to common stockholders $ 94,948 $ 10,264 Effect of dilutive securities: Numerator for diluted earnings per share- Net income available to common stockholder $ 94,948 $ 10,264 Denominator: Denominator for basic earnings per share- Weighted-average common shares 8,087,388 8,087,388 Effect of dilutive securities: Stock options 65,000 65,000 Weighted-average Dilutive potential common shares 167,100 167,100 Denominator for dilutive earnings per share- Adjusted weighted-average shares and assumed conversions 8,319,488 8,319,488 Basic Net Income per share $ 0.01 $ 0.00 Diluted Net Income per share $ 0.01 $ 0.00

Note K - Income Taxes and Ava_2

Note K - Income Taxes and Available Carryforward (Tables)	12 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year ended June Year ended June Current Federal $ - $ - State - - - - Deferred Federal $ (40,109 ) $ (59,730 ) State (8,298 ) (12,359 ) $ (48,407 ) $ (72,089 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Non-Current Deferred tax assets: NOL and contribution carryforwards $ 286,965 Accrued compensated absences 7,881 Accrued bonus 13,115 Allowance for doubtful accounts 2,384 310,345 Deferred tax (liabilities): Excess of tax over book depreciation (5,852 ) Total deferred tax (liabilities) (5,852 ) Net deferred tax asset (liability) 304,493 Valuation Allowance (144,619 ) Net deferred tax asset $ 159,874 June 30, 2020 $ (144,619 ) June 30, 2019 (171,381 ) $ 26,761
Comprehensive Income (Loss) [Table Text Block]	2020 2019 Expected benefit (provision) at US statutory rate $ (33,613 ) $ (20,856 ) State income tax net of federal benefit (provision) (6,955 ) (4,315 ) Nondeductible expense (6,412 ) (5,827 ) Change in estimates of losses carryforward (29,328 ) (563 ) Change in valuation allowance 26,761 (37,513 ) Other 1,140 (3,015 ) Income tax benefit (expense) $ (48,407 ) $ (72,089 )

Note A - Summary of Significa_3

Note A - Summary of Significant Accounting Policies (Details Textual)	Jul. 01, 2017shares	Sep. 27, 2016shares	Jul. 01, 2016shares	Jun. 30, 2020USD ($)shares	Jun. 30, 2019USD ($)shares
Number of Wholly Owned Subsidiaries					2
Cash, Uninsured Amount | $				$ 334,265	$ 0
Percentage of Discount on Bill Payment Within Ten Days to Pharmaceutical Distributors and Drug Stores					2.00%
Term of Sale for Pharmaceutical Distributors and Drug Stores (Day)					30 days
Percentage of Discount on Bill Payment Within Ten Days to Physicians					2.00%
Standard Payment Term to Physicians (Day)					30 days
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $				9,400	$ 6,700
Deferred Tax Assets, Valuation Allowance, Total | $				$ 144,619	$ 171,381
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)
The 2009 Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					1,000,000
The 2009 Option Plan [Member] | Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					500,000
The 2009 Option Plan [Member] | Incentive Stock Options [Member] | Ten Percent Owners [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					110.00%
The 2009 Option Plan [Member] | Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					500,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares)		250,000
The 2009 Option Plan [Member] | Share-based Payment Arrangement, Option [Member] | Justice Anderson [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	25,000		40,000
Selling, General and Administrative Expenses [Member]
Shipping and Handling Expense, Total | $				$ 157,000	$ 128,000
Marketing and Advertising Expense, Total | $				$ 400,000	$ 576,000
Maximum [Member]
Accounts Receivable, Allowance, Percentage				3.00%	2.00%
Maximum [Member] | The 2009 Option Plan [Member] | Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)					10 years
Maximum [Member] | The 2009 Option Plan [Member] | Incentive Stock Options [Member] | Ten Percent Owners [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)					5 years
Maximum [Member] | The 2009 Option Plan [Member] | Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)					10 years
Minimum [Member] | The 2009 Option Plan [Member] | Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					100.00%
Minimum [Member] | The 2009 Option Plan [Member] | Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					100.00%

Note A - Summary of Significa_4

Note A - Summary of Significant Accounting Policies - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Outstanding, options (in shares)	65,000	65,000
Outstanding options, weighted average exercise price (in dollars per share)	$ 0.15	$ 0.15
Granted (in shares)
Granted, weighted average exercise price (in dollars per share)
Exercised (in shares)
Exercised, weighted average exercise price (in dollars per share)
Cancelled (in shares)
Cancelled, weighted average exercise price (in dollars per share)
Outstanding, options (in shares)	65,000	65,000
Outstanding options, weighted average exercise price (in dollars per share)	$ 0.15	$ 0.15
Options exercisable (in shares)	65,000	65,000
Options exercisable, weighted average exercise price (in dollars per share)	$ 0.17	$ 0.17

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Inventory, Noncurrent, Total	$ 83,812	$ 123,204

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Finished Goods	$ 645,039	$ 448,395
Raw Materials	197,289	160,242
Inventory, Gross, Total	$ 842,328	$ 608,637

Note C - Property and Equipme_3

Note C - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2016
Depreciation, Total	$ 53,942	$ 52,646
Capital Leases, Annual Rent Payment			$ 3,788

Note C - Property and Equipme_4

Note C - Property and Equipment - Property and Equipment (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Property and equipment, owned	$ 922,616	$ 934,401
Property and equipment, capitalized leases	11,364	11,364
Property and equipment, gross	933,980	945,765
Less accumulated depreciation, owned	(469,761)	(445,941)
Less accumulated depreciation, capitalized leases	(11,364)	(11,364)
Less accumulated depreciation	(481,125)	(457,305)
Property and equipment, net, owned	452,855	488,460
Property and equipment, net, capitalized leases	0	0
Property and equipment, net	452,855	488,460
Office Equipment [Member]
Property and equipment, owned	178,404	163,288
Property and equipment, capitalized leases	11,364	11,364
Property and equipment, gross	189,768	174,652
Furniture and Fixtures [Member]
Property and equipment, owned	40,304	33,347
Property and equipment, gross	40,304	33,347
Software [Member]
Property and equipment, owned	26,021	60,754
Property and equipment, gross	26,021	60,754
Leasehold Improvements [Member]
Property and equipment, owned	95,329	95,329
Property and equipment, gross	95,329	95,329
Production Equipment [Member]
Property and equipment, owned	25,452	24,577
Property and equipment, gross	25,452	24,577
Building [Member]
Property and equipment, owned	492,559	492,559
Property and equipment, gross	492,559	492,559
Land [Member]
Property and equipment, owned	64,547	64,547
Property and equipment, gross	$ 64,547	$ 64,547

Note D - Intangible Assets (Det

Note D - Intangible Assets (Details Textual)	12 Months Ended
	Jun. 30, 2017USD ($)
Formulation of Care Lotion [Member]
Finite-lived Intangible Assets Acquired	$ 17,000

Note E - Accrued Expenses - Acc

Note E - Accrued Expenses - Accrued Expenses (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Accrued Payroll	$ 119,756	$ 116,282
Accrued Paid Time Off	31,094	29,923
Accrued Professional Fees	49,278	44,901
Accrued Incentive Plan	51,746	27,660
Accrued Lease Liabiity	33,750
Other	3,842	9,724
Total	$ 289,466	$ 228,490

Note F - Line of Credit (Detail

Note F - Line of Credit (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Line of Credit Facility, Maximum Borrowing Capacity		$ 250,000
Long-term Line of Credit, Total	$ 0	0
Interest Expense, Total	$ 0	$ 0

Note G - Paycheck Protection _2

Note G - Paycheck Protection Program Loan (Details Textual) - Paycheck Protection Program CARES Act [Member] - USD ($)	Jun. 30, 2020	Apr. 13, 2020
Notes Payable, Total	$ 201,000	$ 201,000
Long-Term Debt, Maturity, Year One	57,028
Long-Term Debt, Maturity, Year Two	$ 143,972

Note H - Commitments and Cont_3

Note H - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Lease, Expense	$ 29,193	$ 54,259

Note H - Commitments and Cont_4

Note H - Commitments and Contingencies - Minimum Lease Payments (Details)	Jun. 30, 2020USD ($)
2021	$ 29,193
Total minimum lease payments	$ 29,193

Note I - Stockholders' Equity (

Note I - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 1995	Jun. 30, 2020	Jun. 30, 2019
Preferred Stock, Shares Authorized (in shares)		496,000,000	496,000,000
Share-based Payment Arrangement, Expense		$ 0	$ 0
Minimum [Member]
Share Price (in dollars per share)		$ 1
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000,000	4,000,000	4,000,000
Preferred Stock, Dividend Rate, Per-Dollar-Amount (in dollars per share)	$ 0.10
Dividends, Preferred Stock, Total		$ 0
Preferred Stock, Amount of Preferred Dividends in Arrears		$ 387,306
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears (in dollars per share)		$ 2.32
Convertible Preferred Stock, Shares Issued upon Conversion (in shares)		1

Note J - Earnings Per Share - E

Note J - Earnings Per Share - Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019
Net Income	$ (27,907)	$ 55,929	$ (204)	$ 83,840	$ (57,010)	$ 65,021	$ (68,067)	$ 87,280	$ 111,658	$ 27,224
Dividend requirements on preferred stock									(16,710)	(16,960)
Numerator for basic earnings per share- Net income available to common stockholders									94,948	10,264
Numerator for diluted earnings per share- Net income available to common stockholder									$ 94,948	$ 10,264
Weighted average number of common shares outstanding (in shares)									8,087,388	8,087,388
Effect of dilutive securities: Stock options (in shares)									65,000	65,000
Weighted-average Dilutive potential common shares (in shares)									167,100	167,100
Denominator for dilutive earnings per share- Adjusted weighted-average shares and assumed conversions (in shares)									8,319,488	8,319,488
Basic net income per common share (in dollars per share)									$ 0.01	$ 0
Diluted net income per common share (in dollars per share)									$ 0.01	$ 0

Note K - Income Taxes and Ava_3

Note K - Income Taxes and Available Carryforward (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Apr. 13, 2020
Operating Loss Carryforwards, Total	$ 1,132,000
Operating Loss Carryforwards, Portion Estimated to Expire before Utilization	106,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(26,761)	$ 26,761
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	529,000
Operating Loss Carryforwards, Valuation Allowance, Total	$ 144,619
Effective Income Tax Rate Reconciliation, Percent, Total	25.35%	25.35%
Paycheck Protection Program CARES Act [Member]
Notes Payable, Total	$ 201,000		$ 201,000

Note K - Income Taxes and Ava_4

Note K - Income Taxes and Available Carryforward - Provision for Income Tax Expense (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
State
Current Income Tax Expense (Benefit), Total
Federal	(40,109)	(59,730)
State	(8,298)	(12,359)
Income tax benefit (expense)	$ (48,407)	$ (72,089)

Note K - Income Taxes and Ava_5

Note K - Income Taxes and Available Carryforward - Deferred Tax Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
NOL and contribution carryforwards	$ 286,965
Accrued compensated absences	7,881
Accrued bonus	13,115
Allowance for doubtful accounts	2,384
Deferred Tax Assets, Gross, Total	310,345
Excess of tax over book depreciation	(5,852)
Total deferred tax (liabilities)	(5,852)
Net deferred tax asset (liability)	304,493
Valuation Allowance	(144,619)	$ (171,381)
Net deferred tax asset	159,874
Valuation allowance	(144,619)	(171,381)
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (26,761)	$ 26,761

Note K - Income Taxes and Ava_6

Note K - Income Taxes and Available Carryforward - Income Taxes Reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Expected benefit (provision) at US statutory rate	$ (33,613)	$ (20,856)
State income tax net of federal benefit (provision)	(6,955)	(4,315)
Nondeductible expense	(6,412)	(5,827)
Change in estimates of losses carryforward	(29,328)	(563)
Change in valuation allowance	26,761	(37,513)
Other	1,140	(3,015)
Income tax benefit (expense)	$ (48,407)	$ (72,089)

Note M - Major Customer (Detail

Note M - Major Customer (Details Textual) xbrli-pure in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	0	0

Note N - Research and Develop_2

Note N - Research and Development (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Research and Development Expense, Total	$ 23,093	$ 33,140