Procyon (PCYN) 10-Q 14 Feb 23 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2022	Feb. 07, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	0-17449
Entity Registrant Name	PROCYON CORPORATION
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	59-3280822
Entity Address, Address Line One	164 Douglas Road East
Entity Address, City or Town	Oldsmar
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34677
City Area Code	727
Local Phone Number	447-2998
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		8,087,388
Entity Central Index Key	0000812306
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
CURRENT ASSETS
Cash	$ 604,752	$ 760,396
Certificates of Deposit, plus accrued interest	281,419	281,105
Accounts Receivable, less allowance for doubtful accounts of $12,755 and $13,569 respectively	585,644	407,085
Inventories	551,597	761,651
Prepaid Expenses	256,740	374,817
TOTAL CURRENT ASSETS	2,280,152	2,585,054
PROPERTY AND EQUIPMENT, NET	155,413	153,702
OTHER ASSETS
Deposits	8,970	12,311
Inventories	302,807	182,224
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	616,157	706,155
Deferred Tax Asset, Net of Valuation Allowance of $0 and $31,960 respectively	154,853	146,051
Assets, Noncurrent, Excluding Property, Plant and Equipment	1,099,787	1,063,741
TOTAL ASSETS	3,535,352	3,802,497
CURRENT LIABILITIES
Accounts Payable	131,388	178,083
Accrued Expenses	190,747	302,601
Short Term Lease Liabilities	166,944	162,547
TOTAL CURRENT LIABILITIES	489,079	643,231
LONG TERM LIABILITIES
Long Term Lease Liabilities	406,584	491,312
TOTAL LONG TERM LIABILITIES	406,584	491,312
TOTAL LIABILITIES	895,663	1,134,543
STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 sharesauthorized, none issued.	0	0
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	35,564	35,564
Accumulated Deficit	(1,967,501)	(1,939,236)
TOTAL STOCKHOLDERS' EQUITY	2,639,689	2,667,954
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,535,352	3,802,497
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 sharesauthorized, none issued.	$ 126,860	$ 126,860

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Dec. 31, 2022	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 12,755	$ 13,569
Deferred Tax Assets, Valuation Allowance	$ 0	$ 31,960
Preferred Stock, Shares Authorized (in shares)	496,000,000	496,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Common Stock, No Par Value (in dollars per share)	$ 0	$ 0
Common Stock, Shares Authorized (in shares)	80,000,000	80,000,000
Common Stock, Shares, Issued (in shares)	8,087,388	8,087,388
Common Stock, Shares, Outstanding, Ending Balance (in shares)		8,087,388
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000,000	4,000,000
Preferred Stock, Shares Issued (in shares)	167,100	167,100
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	167,100	167,100

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
NET SALES	$ 1,183,937	$ 1,330,636	$ 2,359,640	$ 2,520,613
COST OF SALES	293,455	411,914	588,359	740,167
GROSS PROFIT	890,482	918,722	1,771,281	1,780,446
OPERATING EXPENSES
Salaries and Benefits	447,633	497,261	915,790	936,721
Selling, General and Administrative	474,394	475,371	898,489	831,751
Operating Costs and Expenses, Total	922,027	972,632	1,814,279	1,768,472
INCOME/(LOSS) FROM OPERATIONS	(31,545)	(53,910)	(42,998)	11,974
OTHER INCOME
Rental income	2,844		2,844
Interest Income	2,192	697	3,087	1,068
Nonoperating Income (Expense), Total	5,036	697	5,931	1,068
INCOME/(LOSS) BEFORE INCOME TAXES	(26,509)	(53,213)	(37,067)	13,042
INCOME TAX (EXPENSE) / BENEFIT	6,431	(14,349)	8,802	(38,122)
NET LOSS	(20,078)	(67,562)	(28,265)	(25,080)
Dividend requirements on preferred stock	(4,178)	(4,178)	(8,355)	(8,356)
Basic net loss available to common shares	$ (24,256)	$ (71,740)	$ (36,620)	$ (33,436)
Basic net loss per common share (in dollars per share)	$ 0	$ (0.01)	$ 0	$ 0
Weighted average number of common shares outstanding (in shares)	8,087,388	8,087,388	8,087,388	8,087,388
Diluted net loss per common share (in dollars per share)	$ 0	$ (0.01)	$ 0	$ 0
Weighted average number of common shares outstanding, diluted (in shares)	8,087,388	8,087,388	8,087,388	8,087,388

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member] Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Jun. 30, 2021	167,100	8,087,388
Balance at Jun. 30, 2021	$ 126,860	$ 4,444,766	$ 35,564	$ (1,729,446)	$ 2,877,744
Net Income (Loss)	$ 0	$ 0	0	42,482	42,482
Balance (in shares) at Sep. 30, 2021	167,100	8,087,388
Balance at Sep. 30, 2021	$ 126,860	$ 4,444,766	35,564	(1,686,964)	2,920,226
Balance (in shares) at Jun. 30, 2021	167,100	8,087,388
Balance at Jun. 30, 2021	$ 126,860	$ 4,444,766	35,564	(1,729,446)	2,877,744
Net Income (Loss)					(25,080)
Balance (in shares) at Dec. 31, 2021	167,100	8,087,388
Balance at Dec. 31, 2021	$ 126,860	$ 4,444,766	35,564	(1,754,526)	2,852,664
Balance (in shares) at Sep. 30, 2021	167,100	8,087,388
Balance at Sep. 30, 2021	$ 126,860	$ 4,444,766	35,564	(1,686,964)	2,920,226
Net Income (Loss)	$ 0	$ 0	0	(67,562)	(67,562)
Balance (in shares) at Dec. 31, 2021	167,100	8,087,388
Balance at Dec. 31, 2021	$ 126,860	$ 4,444,766	35,564	(1,754,526)	2,852,664
Balance (in shares) at Jun. 30, 2022	167,100	8,087,388
Balance at Jun. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,939,236)	2,667,954
Net Income (Loss)	$ 0	$ 0	0	(8,187)	(8,187)
Balance (in shares) at Sep. 30, 2022	167,100	8,087,388
Balance at Sep. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,947,423)	2,659,767
Balance (in shares) at Jun. 30, 2022	167,100	8,087,388
Balance at Jun. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,939,236)	2,667,954
Net Income (Loss)					(28,265)
Balance (in shares) at Dec. 31, 2022	167,100	8,087,388
Balance at Dec. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,967,501)	2,639,689
Balance (in shares) at Sep. 30, 2022	167,100	8,087,388
Balance at Sep. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,947,423)	2,659,767
Net Income (Loss)	$ 0	$ 0	0	(20,078)	(20,078)
Balance (in shares) at Dec. 31, 2022	167,100	8,087,388
Balance at Dec. 31, 2022	$ 126,860	$ 4,444,766	$ 35,564	$ (1,967,501)	$ 2,639,689

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (28,265)	$ (25,080)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	22,050	17,614
Decrease in Allowance for Doubtful Accounts	(814)	0
Right of Use Asset Amortization	89,998	87,472
Accrued Interest on Certificate of Deposit	(314)	(402)
Deferred Income Taxes	23,158	6,162
Valuation Allowance	(31,960)	31,960
Decrease (increase) in:
Accounts Receivable	(177,745)	78,767
Deposits	3,341	(24,664)
Inventory	89,471	(181,177)
Prepaid Expenses	118,077	28,670
Increase (decrease) in:
Accounts Payable	(46,695)	(129,367)
Accrued Expenses	(111,854)	(181,588)
NET CASH (USED IN) OPERATING ACTIVITIES	(51,552)	(291,633)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property & Equipment	(23,761)	(52,208)
NET CASH RECEIEVED/(USED IN) INVESTING ACTIVITIES	(23,761)	(52,208)
CASH FLOW FROM FINANCING ACTIVITIES
Payments on Operating Lease Liability	(80,331)	(76,107)
NET CASH (USED IN) FINANCING ACTIVITIES	(80,331)	(76,107)
NET CHANGE IN CASH	(155,644)	(419,948)
CASH AT BEGINNING OF THE YEAR	760,396	1,226,522
CASH AT END OF THE YEAR	604,752	806,574
SUPPLEMENTAL DISCLOSURES
Interest Paid	0	0
Taxes Paid	$ 0	$ 0

Note A - Summary of Accounting

Note A - Summary of Accounting Policies	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE A - SUMMARY OF ACCOUNTING POLICIES The interim consolidated financial statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles ("GAAP") have been condensed or omitted as allowed by such rules and regulations. The Company believes that the disclosures are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements dated June 30, 2022. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Management of the Company has prepared the accompanying unaudited condensed consolidated financial statements prepared in conformity with generally accepted accounting principles, which require the use of management estimates, contain all adjustments (including normal recurring adjustments) necessary to present fairly the operations and cash flows for the period presented and to make the financial statements not misleading. STOCK-BASED COMPENSATION Stock based compensation is accounted for in accordance with Topic 718 - Compensation - Stock Compensation in the Accounting Standards Codification. Pursuant to Topic 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the statement of operations based upon their fair values. Topic 718 rescinds the acceptance of pro forma disclosure. In December 2009, our shareholders approved the adoption of a new stock option plan, providing the Company a continued means of offering stock-based compensation. On December 31, 2022, there were 65,000 outstanding options to purchase shares of our common stock granted under our prior 2009 Stock Option Plan. There were 50,000 outstanding options to purchase shares of our common stock granted under our 2020 Stock Option Plan. 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. There were no The Black-Scholes option valuation model was developed for estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Because option valuation models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of the options. Our options do not have the characteristics of traded options, therefore, the option valuation models do not necessarily provide a reliable measure of the fair value of our options. EARNINGS PER SHARE Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock. For the six months ended December 31, 2022, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations. For the six months ended December 31, 2021, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations.

Note B - Inventories

Note B - Inventories	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE B - INVENTORIES Inventories consisted of the following: December 31, June 30, 2022 2022 Finished Goods $ 829,299 $ 759,118 Raw Materials 25,105 184,757 $ 854,404 $ 943,875 At December 31, 2022 and June 30, 2022, respectively, $302,807 and $182,224 of our inventory was considered non-current as it will not be used within a one year period.

Note C - Stockholders' Equity

Note C - Stockholders' Equity	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE C - STOCKHOLDERS' EQUITY During January 1995, the Company's Board of Directors authorized the issuance of up to 4,000,000 shares of Series A Cumulative Convertible Preferred Stock ("Series A Preferred Stock"). The preferred stockholders are entitled to receive, as and if declared by the board of directors, quarterly dividends at an annual rate of $ .10 no Holders of the Preferred Stock have the right to convert their shares of Preferred Stock into an equal number of shares of Common Stock of the Company. In addition, Preferred Stock holders have the right to vote the number of shares into which their shares are convertible into Common Stock. Such preferred shares will automatically convert into one no

Note D - Income Taxes and Avail

Note D - Income Taxes and Available Carryforward	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D - INCOME TAXES AND AVAILABLE CARRYFORWARD As of December 31, 2022, the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $732,000. NOL arising before December 31, 2020 will expire in various years ending through the year 2035 and for losses arising in taxable years beginning after December 31, 2020, the deduction is limited to 80% of taxable income and can be carried forward indefinitely. The utilization of certain loss carryforwards are limited under Section 382 of the Internal Revenue Code. The components of the provision for income tax (expense) attributable to continuing operations are as follows: Six Months Six Months December 31, 2022 December 31, 2021 Current Federal $ 0 $ 0 State 0 0 $ 0 $ 0 Deferred Federal $ 7,293 $ (31,587 ) State 1,509 (6,535 ) $ 8,802 $ (38,122 ) Total Income Tax Benefit / (Expense) $ 8,802 $ (38,122 ) 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 $ 185,632 Share based payments 4,988 Lease liabilities - operating leases 145,361 Accrued compensated absences 8,104 Accrued bonus 2,918 Allowance for doubtful accounts 3,233 Total deferred tax assets 350,236 Deferred tax (liabilities) Right-of-use-assets - operating leases (156,165 ) Excess of tax over book depreciation (39,218 ) Total deferred tax (liabilities) (195,383 ) Total deferred tax asset 154,853 Valuation Allowance - Net Deferred tax asset $ 154,853 The change in the valuation allowance is as follows: June 30, 2022 $ (31,960 ) December 31 2022 $ - $ (31,960 ) Income taxes for the six months ended December 31, 2022 and 2021 differ from the amounts computed by applying the effective income tax rate of 25.35%, to income before income taxes as a result of the following: Six Months Six Months December 31, 2022 December 31, 2021 Expected (provision) at US statutory rate $ 7,784 $ (2,739 ) State income tax net of federal (provision) 1,611 (567 ) Nondeductible Expense (593 ) (1,854 ) Change in estimates of loss carryforward (31,960 ) (1,002 ) Change in valuation allowance 31,960 $ (31,960 ) Income Tax (Expense) $ 8,802 $ (38,122 ) The earliest tax year still subject to examination by a major taxing jurisdiction is fiscal year end June 30, 2019. The Company performed a review of its uncertain tax positions in accordance with Accounting Standards Codification ASC 740-10 "Uncertainty in Income Taxes". In this regard, an uncertain tax position represents the Company's expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes.

Note E - Line of Credit

Note E - Line of Credit	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE E - LINE OF CREDIT A line of credit was procured in June 2021, with a new bank. The limit for this line of credit is $250,000. Terms of the Line of credit include an interest rate that fluctuates based on prime plus a half of point, with monthly interest only payments. The line of credit matures on June 30, 2023. This line of credit renews annually until either party decides otherwise. At December 31, 2022, the Company owed $0 on the line of credit. Interest expense for the year ended June 30, 2022 and the period ending December 31, 2022, was $0 and $0, respectively. The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.

Note F - Paycheck Protection Pr

Note F - Paycheck Protection Program Loan	6 Months Ended
	Dec. 31, 2022
PPP Loan [Member]
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	NOTE F - 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 (the "CARES Act") in the amount of $201,000 (the "Loan"). The Loan was funded on April 13, 2020. The Company used the proceeds of the Loan for covered payroll costs, rent and utilities in accordance with the relevant terms and conditions of the CARES Act. The Loan was subject to being forgiven partially or fully if the Loan proceeds were used for covered payroll costs, rent and utilities, provided that such amounts were incurred during the eight-week period that commenced on April 13, 2020. Any forgiveness of the Loan would be subject to approval by the SBA and would require the Company to apply for such treatment. The loan was forgiven in full by the SBA in May of 2021.

Note G - Recent Accounting Pron

Note G - Recent Accounting Pronouncements	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE G - RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Loss (Topic 326) (44ASU 2016-13"), which updates the guidance on recognition and measurement of credit losses for financial assets. The new requirements, known as the current expected credit loss model ("CECL ") will require entities to adopt an impairment model based on expected losses rather than incurred losses. ASU 2016-13 must be adopted on a modified-retrospective approach. This update was effective for fiscal years beginning after December 15, 2020 including interim periods within those fiscal years. In October 2019, the F ASB approved an extension for all non-SEC filers, including small reporting companies, to extend the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Therefore, the effective date for this update will be July 1, 2023. The Company is currently evaluating the potential impact of the adoption of the new standard on its consolidated statements of financial condition and results of operations.

Note H - Right-of-use Assets an

Note H - Right-of-use Assets and Lease Liabilities	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE H - RIGHT-OF-USE ASSETS AND LEASE LIABILITIES Operating leases In August 2020, the Company entered into a lease agreement to lease certain office equipment with a lease term of 63 months. The lease renews on a month-to-month basis and contains an option to purchase the equipment at fair market value or return the equipment. Historically, the Company has not exercised the option to purchase at the end of the initial lease term for similar leases and simply returned the equipment at the end of the initial lease term. Initial rent amount was $574 per month. In applying ASC 842, the Company uses a lease term of 63 months and an incremental borrowing rate of 4.25% which was the borrowing rate on the Company’s line of credit with a financial institution. In January 2021, the Company entered in a lease agreement to lease warehouse space with a lease term of 64 months. The Company paid no 4,792.50 In January 2021, the Company entered in a lease agreement to lease office space with a lease term of 64 months. The Company paid no The following is information related to the Company’s right-of-use assets and liabilities for its operating leases: ROU assets - operating leases obtained in exchange for lease liabilities - operating leases $ 973,081 Amortization of ROU assets since lease inception $ (356,924 ) ROU assets - operating leases at December 31, 2022 $ 616,157 Lease liabilities - operating leases on adoption date and increase in lease liabilities $ 973,081 Payments on lease liabilities (399,553 ) Lease liabilities - operating leases on December 31, 2022 573,528 Lease liabilities - operating leases due in the 12 months ending December 31, 2022 166,944 Lease liabilities - operating leases due after December 31, 2022 $ 406,584 Variable lease expense was $50,020 and $50,020 for the three months ended December 31, 2022 and 2021, respectively. Variable lease expense was $100,041 and $100,041 for the six months ended December 31, 2022 and 2021, respectively. Weighted average remaining lease term was 3.24 years and weighted average discount rate was 3.29% at December 31, 2022. Sublease to Third Party During the three months ended December 31, 2022, the Company entered into a lease agreement with an unrelated party to sublease a portion of the warehouse space that it is leasing from its landlord. The contract conveys the right to control the use of the specified area of the warehouse for a period of time in exchange for consideration. Therefore, the sublease meets the definition of a lease pursuant to ASC 842. The Company classifies the sublease as an operating lease because it does not transfer ownership at the end of the lease term. The sublease is for a term of twelve months and it contains a renewal option of which the sublessee is not reasonably certain to exercise. The Company received sublease income of $2,844 during the three months ended December 31, 2022. Management considered if the sublease created an impairment of the Right of Use Asset and determined that no impairment was noted at this time. The following is the amount of sublease income the Company will receive overthe next five years: 12 months ending December 31, 2023 $ 31,284 2024 - 2025 - 2026 - 2027 - $ 31,284

Note I - Contingency

Note I - Contingency	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE I - CONTINGENCY At the time of release of these financial statements, the United States had recently experienced a National Emergency related to persistent health issues caused by the COVID-19 pandemic. Management is unable to quantify the economic impact as a result of the pandemic.

Note J - Subsequent Events

Note J - Subsequent Events	6 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE J - SUBSEQUENT EVENTS We have evaluated subsequent events through February 10, 2023, which is the date the financial statements were available to be issued.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Share-Based Payment Arrangement [Policy Text Block]	STOCK-BASED COMPENSATIONStock based compensation is accounted for in accordance with Topic 718 - Compensation - Stock Compensation in the Accounting Standards Codification. Pursuant to Topic 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the statement of operations based upon their fair values. Topic 718 rescinds the acceptance of pro forma disclosure. In December 2009, our shareholders approved the adoption of a new stock option plan, providing the Company a continued means of offering stock-based compensation.On December 31, 2022, there were 65,000 outstanding options to purchase shares of our common stock granted under our prior 2009 Stock Option Plan. There were 50,000 outstanding options to purchase shares of our common stock granted under our 2020 Stock Option Plan.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. There were no
Earnings Per Share, Policy [Policy Text Block]	EARNINGS PER SHAREBasic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock. -7-

Note B - Inventories (Tables)

Note B - Inventories (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Inventory, Current and Noncurrent [Table Text Block]	Inventories consisted of the following: December 31, June 30, 2022 2022 Finished Goods $ 829,299 $ 759,118 Raw Materials 25,105 184,757 $ 854,404 $ 943,875

Note D - Income Taxes and Ava_2

Note D - Income Taxes and Available Carryforward (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Six Months Six Months December 31, 2022 December 31, 2021 Current Federal $ 0 $ 0 State 0 0 $ 0 $ 0 Deferred Federal $ 7,293 $ (31,587 ) State 1,509 (6,535 ) $ 8,802 $ (38,122 ) Total Income Tax Benefit / (Expense) $ 8,802 $ (38,122 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Non-Current Deferred tax assets NOL and contribution carryforwards $ 185,632 Share based payments 4,988 Lease liabilities - operating leases 145,361 Accrued compensated absences 8,104 Accrued bonus 2,918 Allowance for doubtful accounts 3,233 Total deferred tax assets 350,236 Deferred tax (liabilities) Right-of-use-assets - operating leases (156,165 ) Excess of tax over book depreciation (39,218 ) Total deferred tax (liabilities) (195,383 ) Total deferred tax asset 154,853 Valuation Allowance - Net Deferred tax asset $ 154,853 The change in the valuation allowance is as follows: June 30, 2022 $ (31,960 ) December 31 2022 $ - $ (31,960 )
Comprehensive Income (Loss) [Table Text Block]	Six Months Six Months December 31, 2022 December 31, 2021 Expected (provision) at US statutory rate $ 7,784 $ (2,739 ) State income tax net of federal (provision) 1,611 (567 ) Nondeductible Expense (593 ) (1,854 ) Change in estimates of loss carryforward (31,960 ) (1,002 ) Change in valuation allowance 31,960 $ (31,960 ) Income Tax (Expense) $ 8,802 $ (38,122 )

Note H - Right-of-use Assets _2

Note H - Right-of-use Assets and Lease Liabilities (Tables)	6 Months Ended
	Dec. 31, 2022
Notes Tables
Lessee, Operating Lease, Right-of-Use Assets and Liabilities [Table Text Block]	ROU assets - operating leases obtained in exchange for lease liabilities - operating leases $ 973,081 Amortization of ROU assets since lease inception $ (356,924 ) ROU assets - operating leases at December 31, 2022 $ 616,157 Lease liabilities - operating leases on adoption date and increase in lease liabilities $ 973,081 Payments on lease liabilities (399,553 ) Lease liabilities - operating leases on December 31, 2022 573,528 Lease liabilities - operating leases due in the 12 months ending December 31, 2022 166,944 Lease liabilities - operating leases due after December 31, 2022 $ 406,584
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]	12 months ending December 31, 2023 $ 31,284 2024 - 2025 - 2026 - 2027 - $ 31,284

Note A - Summary of Accountin_2

Note A - Summary of Accounting Policies (Details Textual)	3 Months Ended
	Dec. 31, 2022 shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0
The 2009 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance	65,000
The 2020 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance	50,000

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Inventory, Noncurrent, Total	$ 302,807	$ 182,224

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Finished Goods	$ 829,299	$ 759,118
Raw Materials	25,105	184,757
Inventory, Gross, Total	$ 854,404	$ 943,875

Note C - Stockholders' Equity (

Note C - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
	Jan. 31, 1995	Dec. 31, 2022	Jun. 30, 2022
Preferred Stock, Shares Authorized (in shares)		496,000,000	496,000,000
Minimum [Member]
Proceeds From Public Offering Required for Mandatory Conversion		$ 1,000,000
Share Price		$ 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	$ 0.10
Dividends, Preferred Stock, Total		$ 0
Preferred Stock, Amount of Preferred Dividends in Arrears		$ 429,581
Convertible Preferred Stock, Shares Issued upon Conversion		1
Conversion of Stock, Shares Converted (in shares)		0

Note D - Income Taxes and Ava_3

Note D - Income Taxes and Available Carryforward (Details Textual) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards	$ 732,000
Effective Income Tax Rate Reconciliation, Percent, Total	25.35%	25.35%

Note D - Income Taxes and Ava_4

Note D - Income Taxes and Available Carryforward - Provision for Income Tax Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Federal			$ 0	$ 0
State			0	0
Current Federal, State and Local, Tax Expense (Benefit), Total			0	0
Federal			7,293	(31,587)
State			1,509	(6,535)
Deferred Federal, State and Local, Tax Expense (Benefit), Total			8,802	(38,122)
INCOME TAX (EXPENSE) / BENEFIT	$ 6,431	$ (14,349)	$ 8,802	$ (38,122)

Note D - Income Taxes and Ava_5

Note D - Income Taxes and Available Carryforward - Deferred Tax Assets and Liabilities (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
NOL and contribution carryforwards	$ 185,632
Share based payments	4,988
Lease liabilities - operating leases	145,361
Accrued compensated absences	8,104
Accrued bonus	2,918
Allowance for doubtful accounts	3,233
Total deferred tax assets	350,236
Right-of-use-assets - operating leases	(156,165)
Excess of tax over book depreciation	(39,218)
Total deferred tax (liabilities)	(195,383)
Total deferred tax asset	154,853
Valuation Allowance	0		$ (31,960)
Net Deferred tax asset	154,853		$ 146,051
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (31,960)	$ 31,960

Note D - Income Taxes and Ava_6

Note D - Income Taxes and Available Carryforward - Income Taxes Reconciliation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Expected (provision) at US statutory rate			$ 7,784	$ (2,739)
State income tax net of federal (provision)			1,611	(567)
Nondeductible Expense			(593)	(1,854)
Change in estimates of loss carryforward			(31,960)	(1,002)
Change in valuation allowance			31,960	(31,960)
Income Tax (Expense)	$ 6,431	$ (14,349)	$ 8,802	$ (38,122)

Note E - Line of Credit (Detail

Note E - Line of Credit (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Line of Credit Facility, Maximum Borrowing Capacity			$ 250,000
Interest Expense, Debt, Total	$ 0	$ 0

Note F - Paycheck Protection _2

Note F - Paycheck Protection Program Loan (Details Textual)	Apr. 13, 2020 USD ($)
Paycheck Protection Program CARES Act [Member]
Notes Payable, Total	$ 201,000

Note H - Right-of-use Assets _3

Note H - Right-of-use Assets and Lease Liabilities (Details Textual) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 31, 2021	Aug. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2015
Variable Lease, Cost			$ 50,020	$ 50,020	$ 100,041	$ 100,041
Operating Lease, Weighted Average Remaining Lease Term (Year)			3 years 2 months 26 days		3 years 2 months 26 days
Operating Lease, Weighted Average Discount Rate, Percent			3.29%		3.29%
Sublease Income			$ 2,844
Operating Lease For Office Equipment [Member]
Lessee, Operating Lease, Term of Contract							63 months
Lessee, Operating Lease, Rent Per Month		$ 574
Lessee, Operating Lease, Discount Rate		4.25%
Operating Lease for Warehouse [Member]
Lessee, Operating Lease, Term of Contract	64 months
Lessee, Operating Lease, Discount Rate	3.25%
Lessee, Operating Lease, Rent Per Month, First Four Months	$ 0
Lessee, Operating Lease, Rent Per Month, Beginning After Fifth Month	$ 4,792
Lessee, Operating Lease, Minimum Yearly Increase of Rent	2%
Lessee, Operating Lease, Maximum Yearly Increase of Rent	5%
Operating Lease for Office Space [Member]
Lessee, Operating Lease, Term of Contract	64 months
Lessee, Operating Lease, Discount Rate	3.25%
Lessee, Operating Lease, Rent Per Month, First Four Months	$ 0
Lessee, Operating Lease, Rent Per Month, Beginning After Fifth Month	$ 9,372
Lessee, Operating Lease, Minimum Yearly Increase of Rent	2%
Lessee, Operating Lease, Maximum Yearly Increase of Rent	5%
Operating Lease, Initial Direct Cost Expense, over Term	$ 114,083

Note H - Right-of-use Assets _4

Note H - Right-of-use Assets and Lease Liabilities - Right-of-use Assets and Liabilities (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
ROU assets - operating leases obtained in exchange for lease liabilities - operating leases	$ 973,081
Amortization of ROU assets since lease inception	(356,924)
ROU assets - operating leases at December 31, 2022	616,157	$ 706,155
Lease liabilities - operating leases on adoption date and increase in lease liabilities	973,081
Payments on lease liabilities	(399,553)
Lease liabilities - operating leases on December 31, 2022	573,528
Lease liabilities - operating leases due in the 12 months ending December 31, 2022	166,944	162,547
Lease liabilities - operating leases due after December 31, 2022	$ 406,584	$ 491,312

Note H - Right-of-use Assets _5

Note H - Right-of-use Assets and Lease Liabilities - Operating Sublease, Payment to be Received, Fiscal Year Maturity (Details)	Dec. 31, 2022 USD ($)
Lessor, operating sublease, payments to be received, 2023	$ 31,284
Lessor, operating sublease, payments to be received, 2024	0
Lessor, operating sublease, payments to be received, 2025	0
Lessor, operating sublease, payments to be received, 2026	0
Lessor, operating sublease, payments to be received, 2027	0
Lessor, operating sublease, payments to be received, total	$ 31,284