Procyon (PCYN) 10-K 28 Sep 23 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2023	Sep. 19, 2023	Sep. 07, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 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 Rd
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
Title of 12(g) Security	Common Stock
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,135,829
Entity Common Stock, Shares Outstanding (in shares)		8,087,388
Auditor Firm ID	232
Auditor Name	Ferlita, Walsh, Gonzalez & Rodriguez, P.A.
Auditor Location	Tampa, Florida
Entity Central Index Key	0000812306
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Jun. 30, 2022
CURRENT ASSETS	$ 431,405	$ 761,651
Cash	451,306	760,396
Certificates of Deposit, plus accrued interest	562,472	281,105
Accounts Receivable, after Allowance for Credit Loss, Current	493,953	407,085
Prepaid Expenses	298,469	374,817
TOTAL CURRENT ASSETS	2,237,605	2,585,054
PROPERTY AND EQUIPMENT, NET	281,023	153,702
Other Assets
Deposits	9,220	12,311
Inventories	330,513	182,224
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	527,170	706,155
Deferred Tax Asset, Net of Valuation Allowance of $0 and $31,960, respectively	161,180	146,051
Assets, Noncurrent, Excluding Property, Plant and Equipment	1,045,083	1,063,741
TOTAL ASSETS	3,563,711	3,802,497
CURRENT LIABILITIES
Accounts Payable	175,057	178,083
Accrued Expenses	277,498	302,601
Short Term Lease Liabilities	173,565	162,547
TOTAL CURRENT LIABILITIES	626,120	643,231
LONG TERM LIABILITIES
Long Term Lease Liabilities	319,882	491,312
TOTAL LONG TERM LIABILITIES	319,882	491,312
TOTAL LIABILITIES	946,002	1,134,543
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 shares authorized, 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	(1,989,481)	(1,939,236)
TOTAL STOCKHOLDERS' EQUITY	2,617,709	2,667,954
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,563,711	3,802,497
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 shares authorized, none issued.	$ 126,860	$ 126,860

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 11,625	$ 13,569
Deferred Tax Assets, Valuation Allowance	$ 0	$ 31,960
Preferred Stock, Shares Authorized (in shares)	496,000,000	496,000,000
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 (in shares)	8,087,388	8,087,388
Common Stock, Shares, Issued (in shares)	8,087,388	8,087,388
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000,000	4,000,000
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Issued (in shares)	167,100	167,100
Preferred Stock, Shares Outstanding (in shares)	167,100	167,100

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
NET SALES	$ 4,686,659	$ 4,842,433
COST OF SALES	1,117,072	1,356,612
GROSS PROFIT	3,569,587	3,485,821
OPERATING EXPENSES
Salaries and Benefits	1,859,980	2,012,430
Selling, General and Administrative	1,806,988	1,710,606
Operating Costs and Expenses	3,666,968	3,723,036
(LOSS) / INCOME FROM OPERATIONS	(97,381)	(237,215)
OTHER INCOME
Rental Income	20,191	0
Interest Income	11,816	1,804
Nonoperating Income (Expense)	32,007	1,804
(LOSS) / INCOME BEFORE INCOME TAXES	(65,374)	(235,411)
INCOME TAX (EXPENSE) / BENEFIT	(15,129)	(25,621)
NET (LOSS) / INCOME	(50,245)	(209,790)
Dividend requirements on preferred stock	16,710	16,710
Basic net (loss) / income available to common shares	$ (66,955)	$ (226,500)
Basic net (loss) / income per common share (in dollars per share)	$ (0.01)	$ (0.03)
Weighted average number of common shares outstanding (in shares)	8,087,388	8,087,388
Diluted net (loss) / income per common share (in dollars per share)	$ (0.01)	$ (0.03)
Weighted average number of common shares outstanding, diluted (in shares)	8,087,388	8,087,388

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	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)					(209,790)
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
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
Net Income (Loss)	$ 0	$ 0	0	(105,348)	(105,348)
Balance (in shares) at Mar. 31, 2022	167,100	8,087,388
Balance at Mar. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,859,874)	2,747,316
Net Income (Loss)	$ 0	$ 0	0	(79,362)	(79,362)
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)					(50,245)
Balance (in shares) at Jun. 30, 2023	167,100	8,087,388
Balance at Jun. 30, 2023	$ 126,860	$ 4,444,766	35,564	(1,989,481)	2,617,709
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
Net Income (Loss)	$ 0	$ 0	0	(29,471)	(29,471)
Balance (in shares) at Mar. 31, 2023	167,100	8,087,388
Balance at Mar. 31, 2023	$ 126,860	$ 4,444,766	35,564	(1,996,972)	2,610,218
Net Income (Loss)	$ 0	$ 0	0	7,491	7,491
Balance (in shares) at Jun. 30, 2023	167,100	8,087,388
Balance at Jun. 30, 2023	$ 126,860	$ 4,444,766	$ 35,564	$ (1,989,481)	$ 2,617,709

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (50,245)	$ (209,790)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	52,817	38,217
Decrease in Allowance for Doubtful Accounts	(1,944)	4,161
Right of Use Asset Amortization	178,985	176,189
Accrued Interest on Certificate of Deposit	6,949	667
Deferred Income Taxes	16,831	(57,581)
Valuation Allowance	31,960	(31,960)
(Gain)/Loss on Sale of Assets	0	0
Gain on Extinguishment of Debt	0	0
Stock Based Compensation	0	0
Decrease (increase) in:
Accounts Receivable	(84,924)	86,112
Deposits	3,091	(9,076)
Inventory	181,957	(89,537)
Prepaid Expenses	76,348	(98,566)
Increase (decrease) in:
Accounts Payable	(3,026)	10,495
Accrued Expenses	(25,103)	(111,376)
Payments on Operating Lease Liability	160,412	154,023
NET CASH (USED) / PROVIDED BY OPERATING ACTIVITIES	145,466	(383,482)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Certificate of Deposit	400,000
Redemption of Certificate of Deposit	(125,582)	0
Purchase of Property & Equipment	180,138	82,644
Proceeds on disposal of property and equipment	0	0
NET CASH (USED IN) / PROVIDED BY INVESTING ACTIVITIES	(454,556)	(82,644)
CASH FLOW FROM FINANCING ACTIVITIES
NET CASH (USED IN) FINANCING ACTIVITIES	0	0
NET CHANGE IN CASH	(309,090)	(466,126)
CASH AT BEGINNING OF THE YEAR	760,396	1,226,522
CASH AT END OF THE YEAR	451,306	760,396
SUPPLEMENTAL DISCLOSURES
Interest Paid	0	0
Taxes Paid	$ 0	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals)	12 Months Ended
	Jun. 30, 2023 USD ($)
Increase (Decrease) in Operating Lease Right-of-use Asset	$ 180,109
Increase (Decrease) in Operating Lease Liability	$ 180,109

Note A - Summary of Significant

Note A - Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Activity Procyon Corporation has two 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 months or less to be cash equivalents. Concentration of Credit Risk The Company maintains its cash at various financial institutions. All accounts are fully insured by the Federal Deposit Insurance Corporation, up to $250,000 per Company. At June 30, 2023 and 2022, our uninsured cash balance was $0 and $52,539 respectively. Revenue Recognition The Company recognizes revenue in accordance with the Financial Accounting Standards Board's (FASB) release of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) which requires that five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. 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 2/10 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-party payers and customers. The Company bases its estimates on its historical collection and write-off experience, current trends, credit policy, and on analysis of accounts receivable by aging category. As of June 30, 2023 and 2022, accounts receivable allowance was approximately $11,600 and $13,600, or less than 2% of gross accounts receivable. Inventories Inventories are valued at the lower of average cost or net realized value determined by the first-in, first-out method. A portion of inventory is included in non-current inventory. The non-current balance represents product that will most likely not be used within the next 12 months. A majority of this non-current inventory comes from minimum economic level orders necessary to produce product at a reasonable cost. 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. 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 - Income Tax in the Accounting Standards Codification. A valuation allowance is used to reduce deferred tax assets to the net amount expected to be recovered in future periods. The estimates for deferred tax assets and the corresponding valuation allowance require us to exercise complex judgments. We periodically review and adjust those estimates based upon the most current information available. We have a valuation allowance of $ 0 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 necessarily indicative of the amounts that the Company could realize in a current market exchange. Shipping and Handling Costs Shipping and handling costs incurred were approximately $215,000 and $210,000 for the years ended June 30, 2023, and 2022, respectively, and were included in selling, general and administrative expenses. Advertising and Marketing The Company records advertising and marketing expenses in the periods in which they are incurred. During the years ended June 30, 2023 and 2022, approximately $536,000 and $473,000, of advertising and marketing costs were included in selling, general and administrative expenses for each respective year. Stock Based Compensation In November 2020, our shareholders approved the Procyon Corporation 2020 Stock Option and Incentive Plan (the “2020 Option Plan”). The Company maintained the Procyon Corporation 2009 Stock Option Plan (the "2009 Option Plan"), which expired on December 8, 2019. The 2009 Option Plan was approved by the Company's shareholders on December 8, 2009. No The 2009 Option Plan provided for the granting of incentive stock options, non-qualified stock options, and stock appreciation rights ("SARs") to eligible officers, directors, employees and consultants of the Company and its subsidiaries. The 2009 Option Plan is administered by the Compensation Committee. The Board of Directors has authorized the issuance of 500,000 shares of common stock to underlie the granting of incentive stock options and 500,000 shares of common stock to underlie the granting of non-qualified stock options and SARs under the 2009 Option Plan. The Board issued 250,000 shares of common stock to underlie Non-Qualified Stock Options, on September 27, 2016, effective June 30, 2016. However, 40,000 Options to purchase common stock were awarded to Justice Anderson pursuant to his employment agreement effective July 1, 2016 and 25,000 Options to purchase common stock were awarded to Justice Anderson pursuant to his employment agreement effective July 1, 2017. These Options will expire ten Eligible participants under the 2009 Option Plan must be such full or part-time officers and other employees, non-employee directors and key persons (including consultants and prospective employees) of the Company and its Subsidiaries as are selected from time to time by the Compensation Committee in its sole discretion. Only employees may receive incentive stock options. Employees, non-employee directors and consultants may receive non-qualified stock options or SARs. Non-Qualified Stock Options granted under the 2009 Option Plan many have a term of not more than ten ten five The 2020 Option Plan provides for the granting of Incentive Stock Options, meeting the requirements of 422 of the Internal Revenue Code (the “Code”), Non-Qualified Stock Options, which do not qualify as Incentive Stock Options, Stock Appreciation Rights (“SARs”), Restricted Stock, Restricted Stock Units, or Other Stock-Based Awards (together, an “Award”). An SAR is an Award entitling the recipient to receive shares of Common Stock having a value equal to the excess of the Fair Market Value of the Stock on the date of exercise over the exercise price of the Stock Appreciation Right multiplied by the number of shares of Stock with respect to which the Stock Appreciation Right shall have been exercised. “Restricted Stock Unit” means an unfunded, unsecured right to receive, on the applicable settlement date, one The Board of Directors has authorized the issuance of 2,000,000 shares of Common Stock to underlie the granting of Awards under the 2020 Option Plan. The 2,000,000 shares of Common Stock that have been reserved for the 2020 Option Plan have not been registered under the Securities Act of 1933. We have no present plans to register such shares. Incentive Stock Options may only be granted to employees of the Company or its Subsidiaries and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. Incentive Stock Options can be granted for a term not exceeding ten years, except for Ten Percent Owners of our Common Stock, for whom the maximum option term is five Non-Qualified Stock Options are Options that is not intended to be or otherwise do not qualify as an Incentive Stock Option. Non-Qualified Stock Options shall be granted and have a term of not more than ten Effective June 30, 2021, the Company granted 25,000 non-qualified stock options to Justice W. Anderson and 25,000 non-qualified stock options to James B. Anderson for exceeding certain performance standards in fiscal 2021, pursuant to the terms of their respective Restated and Amended Executive Employment Agreements dated July 1, 2020. Each of the options were dated September 24, 2021, but were granted and effective as of June 30, 2021 for a ten .373 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 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. Agreements to grant 40,000 and 25,000 Options to purchase common stock were executed and delivered to Justice Anderson, pursuant to his executive employment agreements, on September 27, 2016 and August 23, 2017, respectively, but with grant dates of June 30, 2016 and June 30, 2017, respectively. Equity instruments issued to non-employees in exchange for goods, fees and services are accounted for under the fair value-based method of Accounting Standards Codification Topic 718 - Compensation - Stock Compensation (“Topic 718"). Effective as of June 30, 2021, the Company granted 25,000 non-qualified stock options to Justice W. Anderson and 25,000 non-qualified stock options to James B. Anderson for exceeding certain performance standards in fiscal 2021, pursuant to the terms of their respective Restated and Amended Executive Employment Agreements dated July 1, 2020. Each of the options were granted on June 30, 2021 with a ten .373 Additional information with respect to stock option activity is as follows: Number of Shares Weighted Average Exercise Price Outstanding at June 30, 2021 115,000 $ 0.26 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2022 115,000 $ 0.26 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2023 115,000 $ 0.26 Options exercisable at June 30, 2022 115,000 $ 0.26 Options exercisable at June 30, 2023 115,000 $ 0.26 Net Income Per Common Share The Company computes net income per share in accordance with Accounting Standards Codification Topic 260 - Earnings per Share (Topic 260). Topic 260 requires presentation of both basic and diluted earnings per shares (EPS) on the face of the income statement. Basic EPS is computed by dividing net income available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. Subsequent Events We have evaluated subsequent events through September 18, 2023, which is the date the financial statements were available to be issued.

Note B - Inventories

Note B - Inventories	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE B - INVENTORIES Inventories consisted of the following: June 30, 2023 June 30, 2022 Finished Goods $ 576,548 $ 759,118 Raw Materials 185,370 184,757 $ 761,918 $ 943,875 At June 30, 2023 and 2022, respectively, $330,513 and $182,224 of our inventory was considered non-current as it will not be used within a one year period.

Note C - Property and Equipment

Note C - Property and Equipment	12 Months Ended
	Jun. 30, 2023
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, 2023 Total Office Equipment 239,890 Furniture and Fixtures 102,541 Software 177,019 Leasehold improvements 42,289 Production Equipment 26,752 Building 18,392 606,883 Less accumulated depreciation (325,860 ) $ 281,023 Depreciation expense was $52,817 for the year ended June 30, 2023. As of June 30, 2022 Total Office Equipment $ 224,635 Furniture and Fixtures 95,038 Software 26,021 Leasehold improvements 35,907 Production Equipment 26,752 Building 18,392 426,745 Less accumulated depreciation (273,043 ) $ 153,702 Depreciation expense was $38,217 for the year ended June 30, 2022.

Note D - Intangible Assets

Note D - Intangible Assets	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE D - INTANGIBLE ASSETS On June 30, 2017, the Company acquired the formulation of its care lotion from its manufacturer for $17,000. The Company has determined that this asset has an indefinite useful life and therefore is not being amortized, but instead will be tested for impairment at least annually in accordance with the provisions of FASB ASC 350, Intangibles - Goodwill and Other.

Note E - Accrued Expenses

Note E - Accrued Expenses	12 Months Ended
	Jun. 30, 2023
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, 2023 and 2022. 2023 2022 Accrued Payroll $ 70,298 $ 151,341 Accrued Paid Time Off 33,820 41,837 Accrued Professional Fees 48,793 53,681 Accrued Incentive Plan 24,387 10,789 Accrued Lease Liability 92,856 40,439 Other 7,344 4,514 Total $ 277,498 $ 302,601

Note F - Line of Credit

Note F - Line of Credit	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE F - LINE OF CREDIT A line of credit was procured in June 2021, with a bank. The limit for this line of credit is $250,000 as well. Terms of the Line of credit include and an interest rate that fluctuates at prime plus a half of point, interest only. The line of credit matures on June 30, 2022. This line of credit, renews annually until either party decides otherwise. At June 30, 2023, the Company owed $0 on the line of credit. Interest expense for the years ended June 30, 2023 and 2022 was $0 and $0, respectively. The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.

Note G - Commitments and Contin

Note G - Commitments and Contingencies	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE G - COMMITMENTS AND CONTINGENCIES The Company leases its office space, warehouse space and certain equipment. The minimum lease payments due under the lease agreements for fiscal years ended June 30, are as follows: 2024 $ 184,805 2025 188,353 2026 141,062 $ 514,220

Note H - Stockholders' Equity

Note H - Stockholders' Equity	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Equity [Text Block]	NOTE H - 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. The preferred stockholders are entitled to receive, if declared by the board of directors, quarterly dividends at an annual rate of $ .10 The preferred stockholders have the right to convert each share of Series A Cumulative Convertible Preferred Stock into one one 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 accrued and charged against income for the periods ended June 30, 2023 and 2022 was $10,721 and $0 respectively.

Note I - Earnings Per Share

Note I - Earnings Per Share	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE I - EARNINGS PER SHARE As required by Accounting Standards Codification Topic 260 - Earnings per Share (“Topic 260"), the following table sets forth the computation of basic and diluted earnings per share: Years Ended June 30, 2023 2022 Numerator: Net (Loss) Income $ (50,245 ) $ (209,790 ) Adjustment for basic earnings per share: Dividend requirements on preferred stock (16,710 ) (16,710 ) Numerator for basic earnings per share-Net income available to common stockholders $ (66,955 ) $ (226,500 ) Effect of dilutive securities: Numerator for diluted earnings per share- Net income available to common stockholder $ (66,955 ) $ (226,500 ) Denominator: Denominator for basic earnings per share- Weighted-average common shares 8,087,388 8,087,388 Effect of dilutive securities: Stock options 0 0 Weighted-average Dilutive potential common shares 0 0 Denominator for dilutive earnings per share-Adjusted weighted-average shares and assumed conversions 8,087,388 8,087,388 Basic Net Income per share $ (0.01 ) $ (0.03 ) Diluted Net Income per share $ (0.01 ) $ (0.03 )

Note J - Income Taxes and Avail

Note J - Income Taxes and Available Carryforward	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE J - INCOME TAXES AND AVAILABLE CARRYFORWARD As of June 30, 2023, the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $716,000. 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 taxes expenses are attributable to continuing operations as follows: Year ended Year ended June 30, 2023 June 30, 2022 Current $ - $ - Federal State - - Deferred - - Federal $ 12,535 $ 21,229 State 2,594 4,392 $ 15,129 $ 25,621 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 $ 181,439 Share based payments 6,387 Lease Liabilities - operating leases 125,064 Accrued compensated absences 8,572 Accrued bonus 6,181 Allowance for doubtful accounts 2,946 330,589 Deferred tax (liabilities): Right of use assets - operating leases (133,611 ) Excess of tax over book depreciation (35,798 ) Total deferred tax (liabilities) (169,409 ) Net deferred tax asset (liability) 161,180 Valuation Allowance - Net deferred tax asset $ 161,180 The change in the valuation allowance is as follows: June 30, 2023 $ - June 30, 2022 (31,960 ) $ (31,960 ) Income taxes for the years ended June 30, 2023 and 2022 differ from the amounts computed by applying the effective income tax rates of 25.35% to income before income taxes as a result of the following: 2023 2022 Expected benefit (provision) at US statutory rate $ 13,767 $ 49,436 State income tax net of federal benefit (provision) 2,848 10,229 Nondeductible expense (1,246 ) (689 ) Non Taxable Income - - Change in estimates of losses carryforward (32,200 ) (1,395 ) Change in valuation allowance 31,960 (31,960 ) Income tax benefit (expense) $ 15,129 $ 25,621 The earliest tax year still subject to examination by taxing jurisdictions is fiscal year June 30, 2020. 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 K - Concentration of Suppl

Note K - Concentration of Supply Risk	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE K - 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 expect a discontinuance of its wound care products from the manufacturer in the near term. The Company has also opened relationships with other manufactures to address supply risk. There were no back orders as of June 30, 2023 and 2022, respectively, due to the timely receipt of product from the manufacturer.

Note L - Major Customer

Note L - Major Customer	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Major Customer Disclosure [Text Block]	NOTE L - MAJOR CUSTOMER During the year ended June 30, 2022 sales from one one

Note M - Research and Developme

Note M - Research and Development	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Research, Development, and Computer Software Disclosure [Text Block]	NOTE M - RESEARCH AND DEVELOPMENT AMERX incurred $30,600 and $30,000 during the years ended June 30, 2023 and 2022, respectively, towards research and development efforts. These efforts were directed towards additional studies aimed at expanding existing markets, correcting issues with FDA compliance and manufacturing.

Note N - Right-of-use Assets an

Note N - Right-of-use Assets and Lease Liabilities	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE N - 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 pays no In January 2021, the Company entered in a lease agreement to lease office space with a lease term of 64 months. The Company pays no In May 2021, the Company entered into a lease agreement to lease certain office equipment with a lease term of 39 months. The lease expires at the end of the lease term and the Company can simply return the equipment at the end of the initial lease term or upgrade the equipment during or at the end of the current lease term. Initial rent amount was $547 per month. In applying ASC 842, the Company uses a lease term of 39 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. 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 $ 979,744 Amortization of ROU assets since lease inception (452,574 ) ROU assets - operating leases at June 30, 2022 $ 527,170 Lease liabilities - operating leases on adoption date $ 979,744 Payments on lease liabilities (486,297 ) Lease liabilities - operating leases on June 30, 2023 493,447 Lease liabilities - operating leases due in the 12 months ending June 30, 2024 173,565 Lease liabilities - operating leases due after June 30, 2024 $ 319,882 Variable lease expense was $202,270 and $208,467 for the years ended June 30, 2023 and 2022, respectively. Weighted average remaining lease term was 2.73 years and weighted average discount rate was 3.29% at June 30, 2023. Sublease to a Third Party 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 $19,908 during the year ended June 30, 2023. The following is the amount of sublease income the Company will receive over the next five years: 12 months ending June 30, 2024 $ 14,220 2025 - 2026 - 2027 - 2028 - $ 14,220

Note O - Recent Accounting Pron

Note O - Recent Accounting Pronouncements	12 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE O - RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, the F ASB 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 FASB 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.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2023
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 months or less to be cash equivalents.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk The Company maintains its cash at various financial institutions. All accounts are fully insured by the Federal Deposit Insurance Corporation, up to $250,000 per Company. At June 30, 2023 and 2022, our uninsured cash balance was $0 and $52,539 respectively.
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, Revenue from Contracts with Customers (Topic 606) which requires that five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.
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 2/10 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-party payers and customers. The Company bases its estimates on its historical collection and write-off experience, current trends, credit policy, and on analysis of accounts receivable by aging category. As of June 30, 2023 and 2022, accounts receivable allowance was approximately $11,600 and $13,600, or less than 2% of gross accounts receivable.
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at the lower of average cost or net realized value determined by the first-in, first-out method. A portion of inventory is included in non-current inventory. The non-current balance represents product that will most likely not be used within the next 12 months. A majority of this non-current inventory comes from minimum economic level orders necessary to produce product at a reasonable cost.
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.
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 - Income Tax in the Accounting Standards Codification. A valuation allowance is used to reduce deferred tax assets to the net amount expected to be recovered in future periods. The estimates for deferred tax assets and the corresponding valuation allowance require us to exercise complex judgments. We periodically review and adjust those estimates based upon the most current information available. We have a valuation allowance of $ 0
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 necessarily indicative of the amounts that the Company could realize in a current market exchange.
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs incurred were approximately $215,000 and $210,000 for the years ended June 30, 2023, and 2022, respectively, and were included in selling, general and administrative expenses.
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, 2023 and 2022, approximately $536,000 and $473,000, of advertising and marketing costs were included in selling, general and administrative expenses for each respective year.
Share-Based Payment Arrangement [Policy Text Block]	Stock Based Compensation In November 2020, our shareholders approved the Procyon Corporation 2020 Stock Option and Incentive Plan (the “2020 Option Plan”). The Company maintained the Procyon Corporation 2009 Stock Option Plan (the "2009 Option Plan"), which expired on December 8, 2019. The 2009 Option Plan was approved by the Company's shareholders on December 8, 2009. No The 2009 Option Plan provided for the granting of incentive stock options, non-qualified stock options, and stock appreciation rights ("SARs") to eligible officers, directors, employees and consultants of the Company and its subsidiaries. The 2009 Option Plan is administered by the Compensation Committee. The Board of Directors has authorized the issuance of 500,000 shares of common stock to underlie the granting of incentive stock options and 500,000 shares of common stock to underlie the granting of non-qualified stock options and SARs under the 2009 Option Plan. The Board issued 250,000 shares of common stock to underlie Non-Qualified Stock Options, on September 27, 2016, effective June 30, 2016. However, 40,000 Options to purchase common stock were awarded to Justice Anderson pursuant to his employment agreement effective July 1, 2016 and 25,000 Options to purchase common stock were awarded to Justice Anderson pursuant to his employment agreement effective July 1, 2017. These Options will expire ten Eligible participants under the 2009 Option Plan must be such full or part-time officers and other employees, non-employee directors and key persons (including consultants and prospective employees) of the Company and its Subsidiaries as are selected from time to time by the Compensation Committee in its sole discretion. Only employees may receive incentive stock options. Employees, non-employee directors and consultants may receive non-qualified stock options or SARs. Non-Qualified Stock Options granted under the 2009 Option Plan many have a term of not more than ten ten five The 2020 Option Plan provides for the granting of Incentive Stock Options, meeting the requirements of 422 of the Internal Revenue Code (the “Code”), Non-Qualified Stock Options, which do not qualify as Incentive Stock Options, Stock Appreciation Rights (“SARs”), Restricted Stock, Restricted Stock Units, or Other Stock-Based Awards (together, an “Award”). An SAR is an Award entitling the recipient to receive shares of Common Stock having a value equal to the excess of the Fair Market Value of the Stock on the date of exercise over the exercise price of the Stock Appreciation Right multiplied by the number of shares of Stock with respect to which the Stock Appreciation Right shall have been exercised. “Restricted Stock Unit” means an unfunded, unsecured right to receive, on the applicable settlement date, one The Board of Directors has authorized the issuance of 2,000,000 shares of Common Stock to underlie the granting of Awards under the 2020 Option Plan. The 2,000,000 shares of Common Stock that have been reserved for the 2020 Option Plan have not been registered under the Securities Act of 1933. We have no present plans to register such shares. Incentive Stock Options may only be granted to employees of the Company or its Subsidiaries and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. Incentive Stock Options can be granted for a term not exceeding ten years, except for Ten Percent Owners of our Common Stock, for whom the maximum option term is five Non-Qualified Stock Options are Options that is not intended to be or otherwise do not qualify as an Incentive Stock Option. Non-Qualified Stock Options shall be granted and have a term of not more than ten Effective June 30, 2021, the Company granted 25,000 non-qualified stock options to Justice W. Anderson and 25,000 non-qualified stock options to James B. Anderson for exceeding certain performance standards in fiscal 2021, pursuant to the terms of their respective Restated and Amended Executive Employment Agreements dated July 1, 2020. Each of the options were dated September 24, 2021, but were granted and effective as of June 30, 2021 for a ten .373 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 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. Agreements to grant 40,000 and 25,000 Options to purchase common stock were executed and delivered to Justice Anderson, pursuant to his executive employment agreements, on September 27, 2016 and August 23, 2017, respectively, but with grant dates of June 30, 2016 and June 30, 2017, respectively. Equity instruments issued to non-employees in exchange for goods, fees and services are accounted for under the fair value-based method of Accounting Standards Codification Topic 718 - Compensation - Stock Compensation (“Topic 718"). Effective as of June 30, 2021, the Company granted 25,000 non-qualified stock options to Justice W. Anderson and 25,000 non-qualified stock options to James B. Anderson for exceeding certain performance standards in fiscal 2021, pursuant to the terms of their respective Restated and Amended Executive Employment Agreements dated July 1, 2020. Each of the options were granted on June 30, 2021 with a ten .373 Additional information with respect to stock option activity is as follows: Number of Shares Weighted Average Exercise Price Outstanding at June 30, 2021 115,000 $ 0.26 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2022 115,000 $ 0.26 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2023 115,000 $ 0.26 Options exercisable at June 30, 2022 115,000 $ 0.26 Options exercisable at June 30, 2023 115,000 $ 0.26
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 - Earnings per Share (Topic 260). Topic 260 requires presentation of both basic and diluted earnings per shares (EPS) on the face of the income statement. Basic EPS is computed by dividing net income available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events We have evaluated subsequent events through September 18, 2023, which is the date the financial statements were available to be issued.

Note A - Summary of Significa_2

Note A - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Outstanding at June 30, 2021 115,000 $ 0.26 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2022 115,000 $ 0.26 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at June 30, 2023 115,000 $ 0.26 Options exercisable at June 30, 2022 115,000 $ 0.26 Options exercisable at June 30, 2023 115,000 $ 0.26

Note B - Inventories (Tables)

Note B - Inventories (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Inventory, Current and Noncurrent [Table Text Block]	June 30, 2023 June 30, 2022 Finished Goods $ 576,548 $ 759,118 Raw Materials 185,370 184,757 $ 761,918 $ 943,875

Note C - Property and Equipme_2

Note C - Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of June 30, 2023 Total Office Equipment 239,890 Furniture and Fixtures 102,541 Software 177,019 Leasehold improvements 42,289 Production Equipment 26,752 Building 18,392 606,883 Less accumulated depreciation (325,860 ) $ 281,023 As of June 30, 2022 Total Office Equipment $ 224,635 Furniture and Fixtures 95,038 Software 26,021 Leasehold improvements 35,907 Production Equipment 26,752 Building 18,392 426,745 Less accumulated depreciation (273,043 ) $ 153,702

Note E - Accrued Expenses (Tabl

Note E - Accrued Expenses (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	2023 2022 Accrued Payroll $ 70,298 $ 151,341 Accrued Paid Time Off 33,820 41,837 Accrued Professional Fees 48,793 53,681 Accrued Incentive Plan 24,387 10,789 Accrued Lease Liability 92,856 40,439 Other 7,344 4,514 Total $ 277,498 $ 302,601

Note G - Commitments and Cont_2

Note G - Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	2024 $ 184,805 2025 188,353 2026 141,062 $ 514,220

Note I - Earnings Per Share (Ta

Note I - Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years Ended June 30, 2023 2022 Numerator: Net (Loss) Income $ (50,245 ) $ (209,790 ) Adjustment for basic earnings per share: Dividend requirements on preferred stock (16,710 ) (16,710 ) Numerator for basic earnings per share-Net income available to common stockholders $ (66,955 ) $ (226,500 ) Effect of dilutive securities: Numerator for diluted earnings per share- Net income available to common stockholder $ (66,955 ) $ (226,500 ) Denominator: Denominator for basic earnings per share- Weighted-average common shares 8,087,388 8,087,388 Effect of dilutive securities: Stock options 0 0 Weighted-average Dilutive potential common shares 0 0 Denominator for dilutive earnings per share-Adjusted weighted-average shares and assumed conversions 8,087,388 8,087,388 Basic Net Income per share $ (0.01 ) $ (0.03 ) Diluted Net Income per share $ (0.01 ) $ (0.03 )

Note J - Income Taxes and Ava_2

Note J - Income Taxes and Available Carryforward (Tables)	12 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year ended Year ended June 30, 2023 June 30, 2022 Current $ - $ - Federal State - - Deferred - - Federal $ 12,535 $ 21,229 State 2,594 4,392 $ 15,129 $ 25,621
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Non-Current Deferred tax assets: NOL and contribution carryforwards $ 181,439 Share based payments 6,387 Lease Liabilities - operating leases 125,064 Accrued compensated absences 8,572 Accrued bonus 6,181 Allowance for doubtful accounts 2,946 330,589 Deferred tax (liabilities): Right of use assets - operating leases (133,611 ) Excess of tax over book depreciation (35,798 ) Total deferred tax (liabilities) (169,409 ) Net deferred tax asset (liability) 161,180 Valuation Allowance - Net deferred tax asset $ 161,180 June 30, 2023 $ - June 30, 2022 (31,960 ) $ (31,960 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2023 2022 Expected benefit (provision) at US statutory rate $ 13,767 $ 49,436 State income tax net of federal benefit (provision) 2,848 10,229 Nondeductible expense (1,246 ) (689 ) Non Taxable Income - - Change in estimates of losses carryforward (32,200 ) (1,395 ) Change in valuation allowance 31,960 (31,960 ) Income tax benefit (expense) $ 15,129 $ 25,621

Note N - Right-of-use Assets _2

Note N - Right-of-use Assets and Lease Liabilities (Tables)	12 Months Ended
	Jun. 30, 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 $ 979,744 Amortization of ROU assets since lease inception (452,574 ) ROU assets - operating leases at June 30, 2022 $ 527,170 Lease liabilities - operating leases on adoption date $ 979,744 Payments on lease liabilities (486,297 ) Lease liabilities - operating leases on June 30, 2023 493,447 Lease liabilities - operating leases due in the 12 months ending June 30, 2024 173,565 Lease liabilities - operating leases due after June 30, 2024 $ 319,882
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	12 months ending June 30, 2024 $ 14,220 2025 - 2026 - 2027 - 2028 - $ 14,220

Note A - Summary of Significa_3

Note A - Summary of Significant Accounting Policies (Details Textual) - USD ($)					12 Months Ended
	Jun. 30, 2021	Jul. 01, 2017	Sep. 27, 2016	Jul. 01, 2016	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2019	Jun. 29, 2022
Number of Wholly Owned Subsidiaries					2
Cash, Uninsured Amount					$ 0	$ 52,539
Percentage of Discount on Bill Payment Within Ten Days to Pharmaceutical Distributors and Drug Stores					2%
Term of Sale for Pharmaceutical Distributors and Drug Stores (Day)					30 days
Percentage of Discount on Bill Payment Within Ten Days to Physicians					2%
Standard Payment Term to Physicians (Day)					30 days
Accounts Receivable, Allowance for Credit Loss					$ 11,600	13,600
Deferred Tax Assets, Valuation Allowance					$ 0	$ 31,960			$ 31,960
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					0	0
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)					$ 0	$ 0
The 2009 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)					0
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized								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								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%
The 2009 Option Plan [Member] | Non-Qualified Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized								500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period			250,000
The 2009 Option Plan [Member] | Non-Qualified Stock Options [Member] | Justice Anderson [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)								10 years
The 2009 Option Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Justice Anderson [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period				40,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		25,000		40,000
The 2020 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	2,000,000						2,000,000
The 2020 Option Plan [Member] | Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Aggregate Fair Market Value Per First-time Participant	$ 100,000						$ 100,000
The 2020 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%
The 2020 Option Plan [Member] | Non-Qualified Stock Options [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	25,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)	10 years
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 0.373
The 2020 Option Plan [Member] | Non-Qualified Stock Options [Member] | Chief Financial Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	25,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)	10 years
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 0.373
The 2020 Option Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Per Award	1						1
Selling, General and Administrative Expenses [Member]
Shipping and Handling Expense, Total					$ 215,000	$ 210,000
Marketing and Advertising Expense					$ 536,000	$ 473,000
Maximum [Member]
Accounts Receivable, Allowance, Percentage					2%	2%
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] | Non-Qualified Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)								10 years
Maximum [Member] | The 2020 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 2020 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%
Minimum [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
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%
Minimum [Member] | The 2020 Option Plan [Member] | Incentive Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Purchase Price of Common Stock, Percent							100%
Minimum [Member] | The 2020 Option Plan [Member] | Non-Qualified Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Purchase Price of Common Stock, Percent							100%

Note A - Summary of Significa_4

Note A - Summary of Significant Accounting Policies - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Outstanding at June 30, 2021 (in shares)	115,000	115,000
Outstanding at June 30, 2021 (in dollars per share)	$ 0.26	$ 0.26
Granted (in shares)	0	0
Granted, weighted average exercise price (in dollars per share)	$ 0	$ 0
Exercised (in shares)	0	0
Exercised, weighted average exercise price (in dollars per share)	$ 0	$ 0
Cancelled (in shares)	0	0
Cancelled, weighted average exercise price (in dollars per share)	$ 0	$ 0
Outstanding at June 30, 2022 (in shares)	115,000	115,000
Outstanding at June 30, 2022 (in dollars per share)	$ 0.26	$ 0.26
Options exercisable (in shares)	115,000	115,000
Options exercisable, weighted average exercise price (in dollars per share)	$ 0.26	$ 0.26

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Inventory, Noncurrent	$ 330,513	$ 182,224

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Finished Goods	$ 576,548	$ 759,118
Raw Materials	185,370	184,757
Inventory, Gross	$ 761,918	$ 943,875

Note C - Property and Equipme_3

Note C - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Depreciation	$ 52,817	$ 38,217

Note C - Property and Equipme_4

Note C - Property and Equipment - Property and Equipment (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Property, plant, and equipment, gross	$ 606,883	$ 426,745
Less accumulated depreciation	(325,860)	(273,043)
Property, Plant and Equipment, Net	281,023	153,702
Office Equipment [Member]
Property, plant, and equipment, gross	239,890	224,635
Furniture and Fixtures [Member]
Property, plant, and equipment, gross	102,541	95,038
Software [Member]
Property, plant, and equipment, gross	177,019	26,021
Leasehold Improvements [Member]
Property, plant, and equipment, gross	42,289	35,907
Production Equipment [Member]
Property, plant, and equipment, gross	26,752	26,752
Building [Member]
Property, plant, and equipment, gross	$ 18,392	$ 18,392

Note D - Intangible Assets (Det

Note D - Intangible Assets (Details Textual)	12 Months Ended
	Jun. 30, 2017 USD ($)
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, 2023	Jun. 30, 2022
Accrued Payroll	$ 70,298	$ 151,341
Accrued Paid Time Off	33,820	41,837
Accrued Professional Fees	48,793	53,681
Accrued Incentive Plan	24,387	10,789
Accrued Lease Liability	92,856	40,439
Other	7,344	4,514
Total	$ 277,498	$ 302,601

Note F - Line of Credit (Detail

Note F - Line of Credit (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 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 - Commitments and Cont_3

Note G - Commitments and Contingencies - Minimum Lease Payments (Details)	Jun. 30, 2023 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 184,805
Lessee, Operating Lease, Liability, to be Paid, Year Two	188,353
Lessee, Operating Lease, Liability, to be Paid, Year Three	141,062
Lease for Office Space, Warehouse Space and Certain Equipment [Member]
Lessee, Operating Lease, Liability, to be Paid	$ 514,220

Note H - Stockholders' Equity (

Note H - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 1995	Jun. 30, 2023	Jun. 30, 2022
Preferred Stock, Shares Authorized (in shares)		496,000,000	496,000,000
Share-Based Payment Arrangement, Expense		$ 10,721	$ 0
Minimum [Member]
Share Price		$ 1
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000,000	4,000,000	4,000,000
Preferred Stock, Amount of Preferred Dividends in Arrears		$ 437,936
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears		$ 2.62
Convertible Preferred Stock, Shares Issued upon Conversion		1
Proceeds From Public Offering Required for Mandatory Conversion		$ 1,000,000
Convertible Common Stock [Member]
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 0.10
Convertible Preferred Stock, Shares Issued upon Conversion		1

Note I - Earnings Per Share - E

Note I - Earnings Per Share - Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2023	Jun. 30, 2022
Net Income (Loss)	$ 7,491	$ (29,471)	$ (20,078)	$ (8,187)	$ (79,362)	$ (105,348)	$ (67,562)	$ 42,482	$ (50,245)	$ (209,790)
Dividend requirements on preferred stock									(16,710)	(16,710)
Numerator for basic earnings per share-Net income available to common stockholders									(66,955)	(226,500)
Numerator for diluted earnings per share- Net income available to common stockholder									$ (66,955)	$ (226,500)
Weighted average number of common shares outstanding (in shares)									8,087,388	8,087,388
Effect of dilutive securities: Stock options (in shares)									0	0
Weighted-average Dilutive potential common shares (in shares)									0	0
Denominator for dilutive earnings per share-Adjusted weighted-average shares and assumed conversions (in shares)									8,087,388	8,087,388
Basic net (loss) / income per common share (in dollars per share)									$ (0.01)	$ (0.03)
Diluted net (loss) / income per common share (in dollars per share)									$ (0.01)	$ (0.03)

Note J - Income Taxes and Ava_3

Note J - Income Taxes and Available Carryforward (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Loss Carryforwards	$ 716,000
Effective Income Tax Rate Reconciliation, Percent, Total	25.35%	25.35%

Note J - Income Taxes and Ava_4

Note J - Income Taxes and Available Carryforward - Provision for Income Tax Expense (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Federal	$ 0	$ 0
State	0	0
Current Income Tax Expense (Benefit)	0	0
Federal	12,535	21,229
State	2,594	4,392
Deferred Federal, State and Local, Tax Expense (Benefit)	$ 15,129	$ 25,621

Note J - Income Taxes and Ava_5

Note J - Income Taxes and Available Carryforward - Deferred Tax Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 29, 2022
Valuation allowance	$ 0	$ (31,960)	$ (31,960)
NOL and contribution carryforwards	181,439
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(31,960)	31,960
Share based payments	6,387
Lease Liabilities - operating leases	125,064
Accrued compensated absences	8,572
Accrued bonus	6,181
Allowance for doubtful accounts	2,946
Deferred Tax Assets, Gross	330,589
Right of use assets - operating leases	(133,611)
Excess of tax over book depreciation	(35,798)
Total deferred tax (liabilities)	(169,409)
Net deferred tax asset (liability)	161,180
Deferred Tax Assets, Valuation Allowance	0	$ 31,960	$ 31,960
Net deferred tax asset	$ 161,180

Note J - Income Taxes and Ava_6

Note J - Income Taxes and Available Carryforward - Effective Income Tax Reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Expected benefit (provision) at US statutory rate	$ 13,767	$ 49,436
State income tax net of federal benefit (provision)	2,848	10,229
Nondeductible expense	(1,246)	(689)
Non Taxable Income	0	0
Change in estimates of losses carryforward	32,200	1,395
Change in valuation allowance	31,960	(31,960)
Income tax benefit (expense)	$ 15,129	$ 25,621

Note L - Major Customer (Detail

Note L - Major Customer (Details Textual)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	1	1

Note M - Research and Develop_2

Note M - Research and Development (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Research and Development Expense	$ 30,600	$ 30,000

Note N - Right-of-use Assets _3

Note N - Right-of-use Assets and Lease Liabilities (Details Textual) - USD ($)			1 Months Ended		12 Months Ended
	May 31, 2021	Jan. 01, 2021	Jan. 31, 2021	Aug. 31, 2020	Jun. 30, 2023	Jun. 30, 2022
Lessee, Operating Lease, Discount Rate					4.25%
Variable Lease, Cost					$ 202,270	$ 208,467
Operating Lease, Weighted Average Remaining Lease Term					2 years 8 months 23 days
Operating Lease, Weighted Average Discount Rate, Percent					3.29%
Sublease Income					$ 19,908
Operating Lease for Certain Office Equipment [Member]
Lessee, Operating Lease, Term of Contract	39 months			63 months
Lessee, Operating Lease, Rent Per Month	$ 547			$ 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			$ 4,792.50
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
Operating Lease for Office Space [Member]
Lessee, Operating Lease, Rent Per Month, First Four Months		$ 0
Lessee, Operating Lease, Rent Per Month, Beginning After Fifth Month			$ 9,372

Note N - Right-of-use Assets _4

Note N - Right-of-use Assets and Lease Liabilities - Right-of-use Assets and Liabilities (Details) - USD ($)	12 Months Ended	96 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	May 31, 2015
ROU assets - operating leases obtained in exchange for lease liabilities - operating leases	$ 979,744
Amortization of ROU assets since lease inception	(452,574)
ROU Assets - Operating Leases	527,170	$ 527,170	$ 706,155
Lease liabilities - operating leases on adoption date	493,447	493,447		$ 979,744
Payments on lease liabilities		486,297
Short Term Lease Liabilities	173,565	173,565	162,547
Long Term Lease Liabilities	$ 319,882	$ 319,882	$ 491,312

Note N - Right-of-use Assets _5

Note N - Right-of-use Assets and Lease Liabilities - Schedule of Sublease Income (Details)	Jun. 30, 2023 USD ($)
Lessor, Operating Lease, Payment to be Received, Year One	$ 14,220
Lessor, Operating Lease, Payment to be Received, Year Two	0
Lessor, Operating Lease, Payment to be Received, Year Three	0
Lessor, Operating Lease, Payment to be Received, Year Four	0
Lessor, Operating Lease, Payment to be Received, Year Five	0
Lessor, Operating Lease, Payment to be Received	$ 14,220