Procyon (PCYN) 10-Q 15 May 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2023	May 09, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
CURRENT ASSETS
Cash	$ 323,790	$ 760,396
Certificates of Deposit, plus accrued interest	558,382	281,105
Accounts Receivable, less allowance for doubtful accounts of $11,625 and $13,568 respectively.	512,852	407,085
Inventories	549,410	761,651
Prepaid Expenses	454,998	374,817
TOTAL CURRENT ASSETS	2,399,432	2,585,054
PROPERTY AND EQUIPMENT, NET	146,307	153,702
OTHER ASSETS
Deposits	8,970	12,311
Inventories	321,354	182,224
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	570,668	706,155
Deferred Tax Asset, net valuation allowance of $0 and $31,960 respectively.	164,219	146,051
Assets, Noncurrent, Excluding Property, Plant and Equipment	1,082,211	1,063,741
TOTAL ASSETS	3,627,950	3,802,497
CURRENT LIABILITIES
Accounts Payable	208,087	178,083
Lease Liability, Current	169,169	162,547
Accrued Expenses	276,774	302,601
TOTAL CURRENT LIABILITIES	654,030	643,231
LONG TERM LIABILITIES
Lease Liability, Non-Current	363,702	491,312
TOTAL LONG TERM LIABILITIES	363,702	491,312
TOTAL LIABILITIES	1,017,732	1,134,543
STOCKHOLDERS' EQUITY
Common Stock, no par value, 80,000,000 shares authorized; 8,087,388 shares issued and outstanding.	4,444,766	4,444,766
Paid-in Capital	35,564	35,564
Accumulated Deficit	(1,996,972)	(1,939,236)
TOTAL STOCKHOLDERS' EQUITY	2,610,218	2,667,954
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,627,950	3,802,497
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Series A Cumulative Convertible Preferred Stock, no par value; 4,000,000 shares authorized; 167,100 shares issued and outstanding.	$ 126,860	$ 126,860

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Mar. 31, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 11,625	$ 13,568
Deferred Tax Assets, Valuation Allowance	$ 0	$ 31,960
Preferred Stock, 496,000,000 shares authorized, none issued. (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, Outstanding, Ending Balance (in shares)		8,087,388
Common Stock, Shares, Issued (in shares)	8,087,388	8,087,388
Convertible Preferred Stock [Member]
Preferred Stock, 496,000,000 shares authorized, none issued. (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		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
NET SALES	$ 1,124,824	$ 1,112,498	$ 3,484,464	$ 3,633,111
COST OF SALES	263,554	284,238	851,913	1,024,405
GROSS PROFIT	861,270	828,260	2,632,551	2,608,706
OPERATING EXPENSES
Salaries and Benefits	465,788	550,017	1,381,578	1,486,738
Selling, General and Administrative	446,712	420,830	1,345,201	1,252,581
Operating Costs and Expenses	912,500	970,847	2,726,779	2,739,319
(LOSS) FROM OPERATIONS	(51,230)	(142,587)	(94,228)	(130,613)
OTHER INCOME (EXPENSE)
Other Income	8,531	0	11,375	0
Interest Income / (Expense)	3,862	397	6,949	1,465
Nonoperating Income (Expense)	12,393	397	18,324	1,465
(LOSS) BEFORE INCOME TAXES	(38,837)	(142,190)	(75,904)	(129,148)
INCOME TAX (EXPENSE) / BENEFIT	9,366	36,842	18,168	(1,280)
NET (LOSS)	(29,471)	(105,348)	(57,736)	(130,428)
Dividend requirements on preferred stock	(4,179)	(4,179)	(12,533)	(12,533)
Basic net (loss) available to common shares	$ (33,650)	$ (109,527)	$ (70,269)	$ (142,961)
Basic net (loss) per common share (in dollars per share)	$ 0	$ (0.01)	$ (0.01)	$ (0.02)
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)	$ (0.01)	$ (0.02)
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, June 30, 2022 (in shares) at Jun. 30, 2021	167,100	8,087,388
Balance, June 30, 2022 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, September 30, 2022 (in shares) at Sep. 30, 2021	167,100	8,087,388
Balance, September 30, 2022 at Sep. 30, 2021	$ 126,860	$ 4,444,766	35,564	(1,686,964)	2,920,226
Balance, June 30, 2022 (in shares) at Jun. 30, 2021	167,100	8,087,388
Balance, June 30, 2022 at Jun. 30, 2021	$ 126,860	$ 4,444,766	35,564	(1,729,446)	2,877,744
Net Income (Loss)					(130,428)
Balance, September 30, 2022 (in shares) at Mar. 31, 2022	167,100	8,087,388
Balance, September 30, 2022 at Mar. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,859,874)	2,747,316
Balance, June 30, 2022 (in shares) at Sep. 30, 2021	167,100	8,087,388
Balance, June 30, 2022 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, September 30, 2022 (in shares) at Dec. 31, 2021	167,100	8,087,388
Balance, September 30, 2022 at Dec. 31, 2021	$ 126,860	$ 4,444,766	35,564	(1,754,526)	2,852,664
Net Income (Loss)	$ 0	$ 0	0	(105,348)	(105,348)
Balance, September 30, 2022 (in shares) at Mar. 31, 2022	167,100	8,087,388
Balance, September 30, 2022 at Mar. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,859,874)	2,747,316
Balance, June 30, 2022 (in shares) at Jun. 30, 2022	167,100	8,087,388
Balance, June 30, 2022 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, September 30, 2022 (in shares) at Sep. 30, 2022	167,100	8,087,388
Balance, September 30, 2022 at Sep. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,947,423)	2,659,767
Balance, June 30, 2022 (in shares) at Jun. 30, 2022	167,100	8,087,388
Balance, June 30, 2022 at Jun. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,939,236)	2,667,954
Net Income (Loss)					(57,736)
Balance, September 30, 2022 (in shares) at Mar. 31, 2023	167,100	8,087,388
Balance, September 30, 2022 at Mar. 31, 2023	$ 126,860	$ 4,444,766	35,564	(1,996,972)	2,610,218
Balance, June 30, 2022 (in shares) at Sep. 30, 2022	167,100	8,087,388
Balance, June 30, 2022 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, September 30, 2022 (in shares) at Dec. 31, 2022	167,100	8,087,388
Balance, September 30, 2022 at Dec. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,967,501)	2,639,689
Net Income (Loss)	$ 0	$ 0	0	(29,471)	(29,471)
Balance, September 30, 2022 (in shares) at Mar. 31, 2023	167,100	8,087,388
Balance, September 30, 2022 at Mar. 31, 2023	$ 126,860	$ 4,444,766	$ 35,564	$ (1,996,972)	$ 2,610,218

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (57,736)	$ (130,428)
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:
Depreciation	33,484	27,819
Allowance for Doubtful Accounts	(1,944)	4,161
Right of Use Asset Amortization	135,487	133,634
Deferred Income Taxes	13,792	(30,680)
Valuation Allowance	(31,960)	31,960
Accrued Interest on Cetificate of Deposit	0	(603)
Decrease (increase) in:
Accounts Receivable	(103,823)	114,904
Deposits	3,341	(18,501)
Inventory	73,111	(211,753)
Prepaid Expenses	(80,181)	(109,656)
Increase (decrease) in:
Accounts Payable	30,005	43,918
Accrued Expenses	(25,829)	(94,699)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(12,253)	(239,924)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of CD	(277,277)	0
Purchase of property & equipment	(26,089)	(60,029)
NET CASH (USED IN) INVESTING ACTIVITIES	(303,366)	(60,029)
CASH FLOW FROM FINANCING ACTIVITIES
Payment on Operating Lease Liability	(120,987)	(116,584)
NET CASH (USED IN) FINANCING ACTIVITIES	(120,987)	(116,584)
NET CHANGE IN CASH	(436,606)	(416,537)
CASH AT BEGINNING OF PERIOD	760,396	1,226,522
CASH AT END OF PERIOD	323,790	809,985
SUPPLEMENTAL DISCLOSURES
Interest Paid		0
Taxes Paid	$ 0	$ 0

Note A - Summary of Accounting

Note A - Summary of Accounting Policies	9 Months Ended
	Mar. 31, 2023
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. Our 2009 Stock Option Plan expired by its terms in December 2019. In November 2020, our shareholders approved the adoption of a new stock option plan, the Procyon Corporation 2020 Stock Option and Incentive Plan (the “2020 Stock Option Plan”) providing the Company a continued means of offering stock-based compensation. On March 31, 2023, 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 nine months ended March 31, 2023, 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 nine months ended March 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.

Note B - Inventories

Note B - Inventories	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE B - INVENTORIES Inventories consisted of the following: March 31, 2023 June 30, 2022 Finished Goods $ 833,333 $ 759,118 Raw Materials 37,431 184,757 $ 870,764 $ 943,875 At March 31, 2023 and June 30, 2022, respectively, $321,354 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	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Equity [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 Series A 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 Series A Preferred Stock have the right to convert their shares of Series A Preferred Stock into an equal number of shares of Common Stock of the Company. In addition, Series A 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	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D - INCOME TAXES AND AVAILABLE CARRYFORWARD As of March 31, 2023 , the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $748,000. 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: Nine Months March 31, 2023 Nine Months March 31, 2022 Current Federal $ 0 $ 0 State 0 0 $ 0 $ 0 Deferred Federal $ 15,053 $ (1,060 ) State 3,115 (220 ) $ 18,168 $ (1,280 ) Total Income Tax Benefit / (Expense) $ 18,168 $ (1,280 ) 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 $ 189,562 Share based payments 4,988 Lease liabilities - operating leases 135,056 Accrued compensated absences 9,305 Accrued bonus 3,801 Allowance for doubtful accounts 2,946 Total deferred tax assets 345,658 Deferred tax (liabilities) Right-of-use-assets - operating leases (144,636 ) Excess of tax over book depreciation (36,803 ) Total deferred tax (liabilities) (181,439 ) Total deferred tax asset 164,219 Valuation Allowance - Net Deferred tax asset $ 164,219 The change in the valuation allowance is as follows: June 30, 2022 $ (31,960 ) March 31, 2023 $ - $ (31,960 ) Income taxes for the nine months ended March 31, 2023 and 2022 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: Nine Months March 31, 2023 Nine Months March 31, 2022 Expected (provision) at US statutory rate $ 15,987 $ 27,147 State income tax net of federal (provision) 3,308 5,617 Nondeductible Expense (1,127 ) (689 ) Change in estimates of loss carryforward (31,960 ) (1,395 ) Change in valuation allowance 31,960 $ (31,960 ) Income Tax (Expense) $ 18,168 $ (1,280 ) 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	9 Months Ended
	Mar. 31, 2023
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 March 31, 2023, the Company owed $0 on the line of credit. Interest expense for the year ended June 30, 2022 and the period ending March 31, 2023, was $0 and $0, respectively. The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.

Note F - Recent Accounting Pron

Note F - Recent Accounting Pronouncements	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE F - 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 G - Right-of-use Assets an

Note G - Right-of-use Assets and Lease Liabilities	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE G - 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 $ (402,413 ) ROU assets - operating leases at March 31, 2023 $ 570,668 Lease liabilities - operating leases on adoption date and increase in lease liabilities $ 973,081 Payments on lease liabilities (440,210 ) Lease liabilities - operating leases on March 31, 2023 532,871 Lease liabilities - operating leases due in the 12 months ending March 31, 2024 169,169 Lease liabilities - operating leases due after March 31, 2024 $ 363,702 Variable lease expense was $50,020 and $50,020 for the three months ended March 31, 2023 and 2022, respectively. Variable lease expense was $150,061 and $150,061 for the nine months ended March 31, 2023 and 2022, respectively. Weighted average remaining lease term was 2.99 years and weighted average discount rate was 3.29% at March 31, 2023. Sublease to Third Party During the nine months ended March 31, 2023, 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 $8,531 and $11,375 during the three and nine months ended March 31, 2023. 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 March 31, 2024 $ 22,752 2025 - 2026 - 2027 - 2028 - $ 22,752

Note H - Contingency

Note H - Contingency	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE H - 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 I - Subsequent Events

Note I - Subsequent Events	9 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE I - SUBSEQUENT EVENTS We have evaluated subsequent events through May 12, 2023, which is the date the financial statements were available to be issued.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2023
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. Our 2009 Stock Option Plan expired by its terms in December 2019. In November 2020, our shareholders approved the adoption of a new stock option plan, the Procyon Corporation 2020 Stock Option and Incentive Plan (the “2020 Stock Option Plan”) providing the Company a continued means of offering stock-based compensation.On March 31, 2023, 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.For the nine months ended March 31, 2023, 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 nine months ended March 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.

Note B - Inventories (Tables)

Note B - Inventories (Tables)	9 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Inventory, Current and Noncurrent [Table Text Block]	March 31, 2023 June 30, 2022 Finished Goods $ 833,333 $ 759,118 Raw Materials 37,431 184,757 $ 870,764 $ 943,875

Note D - Income Taxes and Ava_2

Note D - Income Taxes and Available Carryforward (Tables)	9 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Nine Months March 31, 2023 Nine Months March 31, 2022 Current Federal $ 0 $ 0 State 0 0 $ 0 $ 0 Deferred Federal $ 15,053 $ (1,060 ) State 3,115 (220 ) $ 18,168 $ (1,280 ) Total Income Tax Benefit / (Expense) $ 18,168 $ (1,280 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Non-Current Deferred tax assets NOL and contribution carryforwards $ 189,562 Share based payments 4,988 Lease liabilities - operating leases 135,056 Accrued compensated absences 9,305 Accrued bonus 3,801 Allowance for doubtful accounts 2,946 Total deferred tax assets 345,658 Deferred tax (liabilities) Right-of-use-assets - operating leases (144,636 ) Excess of tax over book depreciation (36,803 ) Total deferred tax (liabilities) (181,439 ) Total deferred tax asset 164,219 Valuation Allowance - Net Deferred tax asset $ 164,219 June 30, 2022 $ (31,960 ) March 31, 2023 $ - $ (31,960 )
Comprehensive Income (Loss) [Table Text Block]	Nine Months March 31, 2023 Nine Months March 31, 2022 Expected (provision) at US statutory rate $ 15,987 $ 27,147 State income tax net of federal (provision) 3,308 5,617 Nondeductible Expense (1,127 ) (689 ) Change in estimates of loss carryforward (31,960 ) (1,395 ) Change in valuation allowance 31,960 $ (31,960 ) Income Tax (Expense) $ 18,168 $ (1,280 )

Note G - Right-of-use Assets _2

Note G - Right-of-use Assets and Lease Liabilities (Tables)	9 Months Ended
	Mar. 31, 2023
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 $ (402,413 ) ROU assets - operating leases at March 31, 2023 $ 570,668 Lease liabilities - operating leases on adoption date and increase in lease liabilities $ 973,081 Payments on lease liabilities (440,210 ) Lease liabilities - operating leases on March 31, 2023 532,871 Lease liabilities - operating leases due in the 12 months ending March 31, 2024 169,169 Lease liabilities - operating leases due after March 31, 2024 $ 363,702
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	12 months ending March 31, 2024 $ 22,752 2025 - 2026 - 2027 - 2028 - $ 22,752

Note A - Summary of Accountin_2

Note A - Summary of Accounting Policies (Details Textual)	3 Months Ended
	Mar. 31, 2023 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	65,000
The 2020 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	50,000

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Inventory, Noncurrent, Total	$ 321,354	$ 182,224

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Finished Goods	$ 833,333	$ 759,118
Raw Materials	37,431	184,757
Inventory, Gross	$ 870,764	$ 943,875

Note C - Stockholders' Equity (

Note C - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
	Jan. 31, 1995	Mar. 31, 2023	Jan. 31, 2095	Dec. 31, 2023	Jun. 30, 2022
Preferred Stock, 496,000,000 shares authorized, none issued. (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, 496,000,000 shares authorized, none issued. (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		$ 433,759
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 ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Loss Carryforwards	$ 748,000
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		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Federal			$ 0	$ 0
State			0	0
Current Federal, State and Local, Tax Expense (Benefit)			0	0
Federal			15,053	(1,060)
State			3,115	(220)
Deferred Federal, State and Local, Tax Expense (Benefit)			18,168	(1,280)
INCOME TAX (EXPENSE) / BENEFIT	$ 9,366	$ 36,842	$ 18,168	$ (1,280)

Note D - Income Taxes and Ava_5

Note D - Income Taxes and Available Carryforward - Deferred Tax Assets and Liabilities (Details) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
June 30, 2022	$ 0		$ (31,960)
NOL and contribution carryforwards	189,562
Share based payments	4,988
Valuation Allowance	(31,960)	$ 31,960
Lease liabilities - operating leases	135,056
Accrued compensated absences	9,305
Accrued bonus	3,801
Allowance for doubtful accounts	2,946
Total deferred tax assets	345,658
Right-of-use-assets - operating leases	(144,636)
Excess of tax over book depreciation	(36,803)
Total deferred tax (liabilities)	(181,439)
Total deferred tax asset	164,219
Valuation Allowance	0		(31,960)
Net Deferred tax asset	$ 164,219		$ 146,051

Note D - Income Taxes and Ava_6

Note D - Income Taxes and Available Carryforward - Income Taxes Reconciliation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Expected (provision) at US statutory rate			$ 15,987	$ 27,147
State income tax net of federal (provision)			3,308	5,617
Nondeductible Expense			(1,127)	(689)
Change in estimates of loss carryforward			(31,960)	(1,395)
Change in valuation allowance			31,960	(31,960)
Income Tax (Expense)	$ 9,366	$ 36,842	$ 18,168	$ (1,280)

Note E - Line of Credit (Detail

Note E - Line of Credit (Details Textual) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2021
Line of Credit Facility, Maximum Borrowing Capacity			$ 250,000
Long-Term Line of Credit	$ 0
Interest Expense, Debt	$ 0	$ 0

Note G - Right-of-use Assets _3

Note G - Right-of-use Assets and Lease Liabilities (Details Textual) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Jan. 31, 2021	Aug. 31, 2020	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2015
Variable Lease, Cost			$ 50,020	$ 50,020	$ 150,061	$ 150,061
Operating Lease, Weighted Average Remaining Lease Term (Year)			2 years 11 months 26 days		2 years 11 months 26 days
Operating Lease, Weighted Average Discount Rate, Percent			3.29%		3.29%
Sublease Income			$ 8,531		$ 11,375
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 G - Right-of-use Assets _4

Note G - Right-of-use Assets and Lease Liabilities - Right-of-use Assets and Liabilities (Details) - USD ($)	9 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
ROU assets - operating leases obtained in exchange for lease liabilities - operating leases	$ 973,081
Amortization of ROU assets since lease inception	(402,413)
ROU assets - operating leases at March 31, 2023	570,668	$ 706,155
Lease liabilities - operating leases on adoption date and increase in lease liabilities	973,081
Payments on lease liabilities	(440,210)
Lease liabilities - operating leases on March 31, 2023	532,871
Lease liabilities - operating leases due in the 12 months ending March 31, 2024	169,169	162,547
Lease liabilities - operating leases due after March 31, 2024	$ 363,702	$ 491,312

Note G - Right-of-use Assets _5

Note G - Right-of-use Assets and Lease Liabilities - Operating Sublease, Payment to be Received, Fiscal Year Maturity (Details)	Mar. 31, 2023 USD ($)
2024	$ 22,752
2025	0
2026	0
2027	0
2028	0
Lessor, Operating Lease, Payment to be Received	$ 22,752