Procyon (PCYN) 10-Q 22 Feb 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2023	Feb. 07, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 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)		8,108,388
Entity Central Index Key	0000812306
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
CURRENT ASSETS
Cash	$ 267,804	$ 451,306
Certificates of Deposit, plus accrued interest	570,944	562,472
Accounts Receivable, less allowance for doubtful accounts of $15,000 and $11,625 respectively	509,608	493,953
Inventories	530,863	431,405
Prepaid Expenses	227,994	298,469
TOTAL CURRENT ASSETS	2,107,213	2,237,605
PROPERTY AND EQUIPMENT, NET	301,314	281,023
OTHER ASSETS
Deposits	4,665	9,220
Inventories	286,611	330,513
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	433,449	527,170
Deferred Tax Asset, Net of Valuation Allowance of $176,532 and $0 respectively	15,512	161,180
Assets, Noncurrent, Excluding Property, Plant and Equipment	757,237	1,045,083
TOTAL ASSETS	3,165,764	3,563,711
CURRENT LIABILITIES
Accounts Payable	208,888	175,057
Accrued Expenses	197,115	277,498
Short Term Lease Liabilities	177,083	173,565
TOTAL CURRENT LIABILITIES	583,086	626,120
LONG TERM LIABILITIES
Long Term Lease Liabilities	230,576	319,882
TOTAL LONG TERM LIABILITIES	230,576	319,882
TOTAL LIABILITIES	813,662	946,002
Commitments and Contingencies	0
STOCKHOLDERS' EQUITY
Preferred Stock	0	0
Common Stock, no par value, 80,000,000 shares authorized; 8,108,388 and 8,087,388 shares issued and outstanding, respectively	4,450,166	4,444,766
Paid-in Capital	41,085	35,564
Accumulated Deficit	(2,265,809)	(1,989,481)
TOTAL STOCKHOLDERS' EQUITY	2,352,102	2,617,709
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,165,764	3,563,711
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock	$ 126,660	$ 126,860

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Dec. 31, 2023	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 15,000	$ 11,625
Deferred Tax Assets, Valuation Allowance	$ 176,532	$ 0
Preferred Stock, Shares Authorized (in shares)	496,000,000	496,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Common Stock, No Par Value (in dollars per share)	$ 0	$ 0
Common Stock, Shares Authorized (in shares)	80,000,000	80,000,000
Common Stock, Shares, Outstanding (in shares)	8,108,388	8,087,388
Common Stock, Shares, Issued (in shares)	8,108,388	8,087,388
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000,000	4,000,000
Preferred Stock, Shares Issued (in shares)	166,900	167,100
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Outstanding (in shares)	166,900	167,100

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
NET SALES	$ 1,200,053	$ 1,183,937	$ 2,373,160	$ 2,359,640
COST OF SALES	263,324	293,455	524,029	588,359
GROSS PROFIT	936,729	890,482	1,849,131	1,771,281
OPERATING EXPENSES
Salaries and Benefits	502,478	447,633	980,504	915,790
Selling, General and Administrative	535,666	474,394	1,027,433	898,489
Operating Costs and Expenses	1,038,144	922,027	2,007,937	1,814,279
INCOME/(LOSS) FROM OPERATIONS	(101,415)	(31,545)	(158,806)	(42,998)
OTHER INCOME
(Loss) on Disposal of Assets	(1,214)	0	(1,214)	0
Other Income / Gain on Extinguishment of Debt	618	0	618	0
Rental income	8,958	2,844	17,916	2,844
Interest Income	5,618	2,192	10,826	3,087
Nonoperating Income (Expense)	13,980	5,036	28,146	5,931
INCOME/(LOSS) BEFORE INCOME TAXES	(87,435)	(26,509)	(130,660)	(37,067)
INCOME TAX (EXPENSE)/ BENEFIT	(155,038)	6,431	(145,668)	8,802
NET LOSS	(242,473)	(20,078)	(276,328)	(28,265)
Dividend requirements on preferred stock	(4,172)	(4,178)	(7,805)	(8,355)
Basic net loss available to common shares	$ (246,645)	$ (24,256)	$ (284,133)	$ (36,620)
Basic net loss per common share (in dollars per share)	$ (0.03)	$ 0	$ (0.04)	$ 0
Weighted average number of common shares outstanding (in shares)	8,108,388	8,087,388	8,108,388	8,087,388
Diluted net loss per common share (in dollars per share)	$ (0.03)	$ 0	$ (0.04)	$ 0
Weighted average number of common shares outstanding, diluted (in shares)	8,108,388	8,087,388	8,108,388	8,087,388

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member] Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Jun. 30, 2022	167,100	8,087,388
Balance at Jun. 30, 2022	$ 126,860	$ 4,444,766	$ 35,564	$ (1,939,236)	$ 2,667,954
Net Income (Loss)	$ 0	$ 0	0	(8,187)	(8,187)
Balance (in shares) at Sep. 30, 2022	167,100	8,087,388
Balance at Sep. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,947,423)	2,659,767
Balance (in shares) at Jun. 30, 2022	167,100	8,087,388
Balance at Jun. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,939,236)	2,667,954
Net Income (Loss)					(28,265)
Balance (in shares) at Dec. 31, 2022	167,100	8,087,388
Balance at Dec. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,967,501)	2,639,689
Balance (in shares) at Sep. 30, 2022	167,100	8,087,388
Balance at Sep. 30, 2022	$ 126,860	$ 4,444,766	35,564	(1,947,423)	2,659,767
Net Income (Loss)	$ 0	$ 0	0	(20,078)	(20,078)
Balance (in shares) at Dec. 31, 2022	167,100	8,087,388
Balance at Dec. 31, 2022	$ 126,860	$ 4,444,766	35,564	(1,967,501)	2,639,689
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
Stock Based Compensation (in shares)	0	20,800
Stock Based Compensation	$ 0	$ 5,200	5,521	0	10,721
Preferred Stock Converted to Common (in shares)	(200)	200
Preferred Stock Converted to Common	$ (200)	$ 200
Net Income (Loss)	$ 0				(33,855)
Balance (in shares) at Sep. 30, 2023	166,900	8,108,388
Balance at Sep. 30, 2023	$ 126,660	$ 4,450,166	41,085	(2,023,336)	2,594,575
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
Net Income (Loss)					(276,328)
Balance (in shares) at Dec. 31, 2023	166,900	8,108,388
Balance at Dec. 31, 2023	$ 126,660	$ 4,450,166	41,085	(2,265,809)	2,352,102
Balance (in shares) at Sep. 30, 2023	166,900	8,108,388
Balance at Sep. 30, 2023	$ 126,660	$ 4,450,166	41,085	(2,023,336)	2,594,575
Net Income (Loss)	$ 0			(242,473)	(242,473)
Balance (in shares) at Dec. 31, 2023	166,900	8,108,388
Balance at Dec. 31, 2023	$ 126,660	$ 4,450,166	$ 41,085	$ (2,265,809)	$ 2,352,102

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		18 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (242,473)	$ (33,855)	$ (20,078)	$ (8,187)	$ (276,328)	$ (28,265)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation					40,032	22,050
Decrease in Allowance for Doubtful Accounts					3,375	(814)
Right of Use Asset Amortization					93,721	89,998
Accrued Interest on Certificate of Deposit					(8,472)	(314)
Deferred Income Taxes					(30,864)	23,158
Valuation Allowance					176,532	(31,960)
(Gain)/Loss on Sale of Assets					(1,214)	0
Payments on Operating Lease Liability					(85,788)	(80,331)	$ (572,085)
Decrease (increase) in:
Accounts Receivable					(19,030)	(177,745)
Deposits					4,555	3,341
Inventory					(55,556)	89,471
Prepaid Expenses					70,475	118,077
Increase (decrease) in:
Accounts Payable					33,831	(46,695)
Accrued Expenses					(69,662)	(111,854)
NET CASH (USED IN) OPERATING ACTIVITIES					(121,965)	(131,883)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property & Equipment					(61,537)	(23,761)
NET CASH RECEIEVED/(USED IN) INVESTING ACTIVITIES					(61,537)	(23,761)
CASH FLOW FROM FINANCING ACTIVITIES
Payments on Operating Lease Liability					0	0
NET CASH (USED IN) FINANCING ACTIVITIES					0	0
NET CHANGE IN CASH					(183,502)	(155,644)
CASH AT BEGINNING OF THE YEAR		$ 451,306		$ 760,396	451,306	760,396	760,396
CASH AT END OF THE YEAR	$ 267,804		$ 604,752		267,804	604,752	$ 267,804
SUPPLEMENTAL DISCLOSURES
Interest Paid					0	0
Taxes Paid					$ 0	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals)	3 Months Ended
	Dec. 31, 2023 USD ($) shares
Accrued Expenses Settled For Issuance of Equity	$ 10,721
Series A Cumulative Convertible Preferred Stock Exchanged for Common Stock [Member]
Conversion of Stock, Shares Converted (in shares) | shares	200
Conversion of Stock, Amount Converted	$ 200

Note A - Summary of Accounting

Note A - Summary of Accounting Policies	6 Months Ended
	Dec. 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, 2023. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Management of the Company has prepared the accompanying unaudited condensed consolidated financial statements prepared in conformity with generally accepted accounting principles, which require the use of management estimates, contain all adjustments (including normal recurring adjustments) necessary to present fairly the operations and cash flows for the period presented and to make the financial statements not misleading. STOCK-BASED COMPENSATION Stock based compensation is accounted for in accordance with Topic 718 - Compensation - Stock Compensation in the Accounting Standards Codification. Pursuant to Topic 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the statement of operations based upon their fair values. Topic 718 rescinds the acceptance of pro forma disclosure. In December 2009, our shareholders approved the adoption of a new stock option plan, providing the Company a continued means of offering stock-based compensation. On December 31, 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. Additional information with respect to stock option activity is as follows: Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2021 115,000 $ 0.17 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at December 31, 2022 115,000 $ 0.17 Granted 25,432 $ 0.25 Exercised - $ - Cancelled - $ - Outstanding at December 31, 2023 140,432 $ 0.26 Options exercisable at December 31, 2022 115,000 $ 0.17 Options exercisable at December 31, 2023 140,432 $ 0.25 EARNINGS PER SHARE Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock. For the six months ended December 31, 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 six months ended December 31, 2022, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations.

Note B - Inventories

Note B - Inventories	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE B - INVENTORIES Inventories consisted of the following: December 31, 2023 June 30, 2023 Finished Goods $ 618,349 $ 576,548 Raw Materials 199,125 185,370 $ 817,474 $ 761,918 At December 31, 2023 and June 30, 2023, respectively, $286,611 and $330,513 of our inventory was considered non-current as it will not be used within a one year period.

Note C - Stockholders' Equity

Note C - Stockholders' Equity	6 Months Ended
	Dec. 31, 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 preferred stockholders are entitled to receive, as and if declared by the board of directors, quarterly dividends at an annual rate of $ .10 no Holders of the Preferred Stock have the right to convert their shares of Preferred Stock into an equal number of shares of Common Stock of the Company. In addition, Preferred Stock holders have the right to vote the number of shares into which their shares are convertible into Common Stock. Such preferred shares will automatically convert into one Share-based compensation expense recognized during the period is based on the value of the portion of share-based payment awards that is ultimately expected to vest. As share-based compensation expense recognized in the statement of operations is based on awards ultimately expected to vest, it can be reduced for estimated forfeitures. The ASC topic Stock Compensation requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The share based compensation charged against income for the periods ended December 31, 2023 and 2022 was $0 and $0 respectively. The Black-Scholes option-pricing model, which values options based on the stock price at grant date, the expected life of the options, the estimated volatility of the stock and the risk free interest rate over the life of the option. The assumption used in the Black-Scholes model were as follows for the stock options granted in July 2023. Stock Price at Date of Grant $ .248 Risk-free interest rate 3.97 % Expected volatility of common stock 90.37 % Dividend yield 0 % Expected life of options 10 years

Note D - Income Taxes and Avail

Note D - Income Taxes and Available Carryforward	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D - INCOME TAXES AND AVAILABLE CARRYFORWARD As of December 31, 2023, the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $863,000. NOL arising before December 31, 2020 will expire in various years ending through the year 2035 and for losses arising in taxable years beginning after December 31, 2020, the deduction is limited to 80% of taxable income and can be carried forward indefinitely. The utilization of certain loss carryforwards are limited under Section 382 of the Internal Revenue Code. The components of the provision for income tax (expense) attributable to continuing operations are as follows: Six Months December 31, 2023 Six Months December 31, 2022 Current Federal $ 0 $ 0 State 0 0 $ 0 $ 0 Deferred Federal $ (120,695 ) $ 7,293 State (24,973 ) 1,509 $ (145,668 ) $ 8,802 Total Income Tax Benefit / (Expense) $ (145,668 ) $ 8,802 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 $ 218,665 Share based payments 6,387 Lease liabilities - operating leases 103,321 Accrued compensated absences 9,985 Accrued bonus 3,346 Allowance for doubtful accounts 4,747 Total deferred tax assets 346,451 Deferred tax (liabilities) Right-of-use-assets - operating leases (109,858 ) Excess of tax over book depreciation (44,549 ) Total deferred tax (liabilities) (154,407 ) Total deferred tax asset 192,044 Valuation Allowance (176,532 ) Net Deferred tax asset $ 15,512 The change in the valuation allowance is as follows: June 30, 2023 $ - December 31, 2023 $ (176,532 ) $ (176,532 ) Income taxes for the six months ended December 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: Six Months December 31, 2023 Six Months December 31, 2022 Expected (provision) at US statutory rate $ 27,520 $ 7,784 State income tax net of federal (provision) 5,694 1,611 Nondeductible Expense (2,611 ) (593 ) Change in estimates of loss carryforward 261 (31,960 ) Change in valuation allowance (176,532 ) $ 31,960 Income Tax (Expense) $ (145,668 ) $ 8,802 The earliest tax year still subject to examination by a major taxing jurisdiction is fiscal year end June 30, 2021. The Company performed a review of its uncertain tax positions in accordance with Accounting Standards Codification ASC 740-10 "Uncertainty in Income Taxes". In this regard, an uncertain tax position represents the Company's expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes.

Note E - Line of Credit

Note E - Line of Credit	6 Months Ended
	Dec. 31, 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 renews annually on June 30th. This line of credit renews annually until either party decides otherwise. At December 31, 2023, the Company owed $0 on the line of credit. Interest expense for the year ended June 30, 2023 and the period ending December 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	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE F - RECENT ACCOUNTING PRONOUNCEMENTS Adoption of new accounting standards New accounting standards or accounting standards updates were assessed and determined to be either not applicable or not having a material impact on the Company’s consolidated financial statements or processes.

Note G - Right-of-use Assets an

Note G - Right-of-use Assets and Lease Liabilities	6 Months Ended
	Dec. 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 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. 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 $ 979,744 Amortization of ROU assets since lease inception $ (546,295 ) ROU assets - operating leases at December 31, 2023 $ 433,449 Lease liabilities - operating leases on adoption date and increase in lease liabilities $ 979,744 Payments on lease liabilities (572,085 ) Lease liabilities - operating leases on December 31, 2023 407,659 Lease liabilities - operating leases due in the 12 months ending December 31, 2024 177,083 Lease liabilities - operating leases due after December 31, 2024 $ 230,576 Variable lease expense was $50,567 and $50,020 for the three months ended December 31, 2023 and 2022, respectively. Variable lease expense was $101,135 and $100,041 for the six months ended December 31, 2023 and 2022, respectively. Weighted average remaining lease term was 2.23 years and weighted average discount rate was 3.29% at December 31, 2023. Sublease to 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, in November 2022. 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 $8,958 and $17,916 during the three and six months ended December 31, 2023, respectively. The following is the amount of sublease income the Company will receive over the next five years: 12 months ending December 31, 2024 $ 32,846 2025 - 2026 - 2027 - 2028 - $ 32,846

Note H - Subsequent Events

Note H - Subsequent Events	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE H - SUBSEQUENT EVENTS We have evaluated subsequent events through February 18, 2024, which is the date the financial statements were available to be issued.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Share-Based Payment Arrangement [Policy Text Block]	STOCK-BASED COMPENSATION Stock based compensation is accounted for in accordance with Topic 718 - Compensation - Stock Compensation in the Accounting Standards Codification. Pursuant to Topic 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the statement of operations based upon their fair values. Topic 718 rescinds the acceptance of pro forma disclosure. In December 2009, our shareholders approved the adoption of a new stock option plan, providing the Company a continued means of offering stock-based compensation. On December 31, 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. Additional information with respect to stock option activity is as follows: Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2021 115,000 $ 0.17 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at December 31, 2022 115,000 $ 0.17 Granted 25,432 $ 0.25 Exercised - $ - Cancelled - $ - Outstanding at December 31, 2023 140,432 $ 0.26 Options exercisable at December 31, 2022 115,000 $ 0.17 Options exercisable at December 31, 2023 140,432 $ 0.25
Earnings Per Share, Policy [Policy Text Block]	EARNINGS PER SHARE Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock. For the six months ended December 31, 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 six months ended December 31, 2022, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations.

Note A - Summary of Accountin_2

Note A - Summary of Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2021 115,000 $ 0.17 Granted - $ - Exercised - $ - Cancelled - $ - Outstanding at December 31, 2022 115,000 $ 0.17 Granted 25,432 $ 0.25 Exercised - $ - Cancelled - $ - Outstanding at December 31, 2023 140,432 $ 0.26 Options exercisable at December 31, 2022 115,000 $ 0.17 Options exercisable at December 31, 2023 140,432 $ 0.25

Note B - Inventories (Tables)

Note B - Inventories (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Inventory, Current and Noncurrent [Table Text Block]	Inventories consisted of the following: December 31, 2023 June 30, 2023 Finished Goods $ 618,349 $ 576,548 Raw Materials 199,125 185,370 $ 817,474 $ 761,918

Note C - Stockholders' Equity (

Note C - Stockholders' Equity (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Stock Price at Date of Grant $ .248 Risk-free interest rate 3.97 % Expected volatility of common stock 90.37 % Dividend yield 0 % Expected life of options 10 years

Note D - Income Taxes and Ava_2

Note D - Income Taxes and Available Carryforward (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Six Months December 31, 2023 Six Months December 31, 2022 Current Federal $ 0 $ 0 State 0 0 $ 0 $ 0 Deferred Federal $ (120,695 ) $ 7,293 State (24,973 ) 1,509 $ (145,668 ) $ 8,802 Total Income Tax Benefit / (Expense) $ (145,668 ) $ 8,802
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Non-Current Deferred tax assets NOL and contribution carryforwards $ 218,665 Share based payments 6,387 Lease liabilities - operating leases 103,321 Accrued compensated absences 9,985 Accrued bonus 3,346 Allowance for doubtful accounts 4,747 Total deferred tax assets 346,451 Deferred tax (liabilities) Right-of-use-assets - operating leases (109,858 ) Excess of tax over book depreciation (44,549 ) Total deferred tax (liabilities) (154,407 ) Total deferred tax asset 192,044 Valuation Allowance (176,532 ) Net Deferred tax asset $ 15,512
Summary of Valuation Allowance [Table Text Block]	June 30, 2023 $ - December 31, 2023 $ (176,532 ) $ (176,532 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Six Months December 31, 2023 Six Months December 31, 2022 Expected (provision) at US statutory rate $ 27,520 $ 7,784 State income tax net of federal (provision) 5,694 1,611 Nondeductible Expense (2,611 ) (593 ) Change in estimates of loss carryforward 261 (31,960 ) Change in valuation allowance (176,532 ) $ 31,960 Income Tax (Expense) $ (145,668 ) $ 8,802

Note G - Right-of-use Assets _2

Note G - Right-of-use Assets and Lease Liabilities (Tables)	6 Months Ended
	Dec. 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 $ 979,744 Amortization of ROU assets since lease inception $ (546,295 ) ROU assets - operating leases at December 31, 2023 $ 433,449 Lease liabilities - operating leases on adoption date and increase in lease liabilities $ 979,744 Payments on lease liabilities (572,085 ) Lease liabilities - operating leases on December 31, 2023 407,659 Lease liabilities - operating leases due in the 12 months ending December 31, 2024 177,083 Lease liabilities - operating leases due after December 31, 2024 $ 230,576
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	12 months ending December 31, 2024 $ 32,846 2025 - 2026 - 2027 - 2028 - $ 32,846

Note A - Summary of Accountin_3

Note A - Summary of Accounting Policies (Details Textual) - shares	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	140,432	140,432	115,000	115,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0	25,432	0
The 2009 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	65,000	65,000
The 2020 Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	50,000	50,000

Note A - Summary of Accountin_4

Note A - Summary of Accounting Policies - Stock Options Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Outstanding, shares (in shares)		115,000	115,000
Outstanding. weighted average exercise price (in dollars per share)		$ 0.17	$ 0.17
Granted, shares (in shares)	0	25,432	0
Granted. weighted average exercise price (in dollars per share)		$ 0.25	$ 0
Exercised, shares (in shares)		0	0
Exercised. weighted average exercise price (in dollars per share)		$ 0	$ 0
Cancelled, shares (in shares)		0	0
Cancelled. weighted average exercise price (in dollars per share)		$ 0	$ 0
Outstanding, shares (in shares)	140,432	140,432	115,000
Outstanding. weighted average exercise price (in dollars per share)	$ 0.26	$ 0.26	$ 0.17
Options exercisable, shares (in shares)	140,432	140,432	115,000
Options exercisable. weighted average exercise price (in dollars per share)	$ 0.25	$ 0.25	$ 0.17

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Inventory, Noncurrent, Total	$ 286,611	$ 330,513

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Finished Goods	$ 618,349	$ 576,548
Raw Materials	199,125	185,370
Inventory, Gross	$ 817,474	$ 761,918

Note C - Stockholders' Equity_2

Note C - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2095	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Jun. 30, 2023
Preferred Stock, Shares Authorized (in shares)		496,000,000		496,000,000	496,000,000
Share Price		$ 248		$ 248
Share-Based Payment Arrangement, Expense		$ 0	$ 0
Minimum [Member]
Proceeds From Public Offering Required for Mandatory Conversion				$ 1,000,000
Share Price		$ 1		$ 1
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000,000	4,000,000		4,000,000	4,000,000
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 0.1
Dividends, Preferred Stock, Total				$ 0
Preferred Stock, Amount of Preferred Dividends in Arrears				$ 445,741
Convertible Preferred Stock, Shares Issued upon Conversion		1		1
Conversion of Stock, Shares Converted (in shares)		200

Note C - Stockholders' Equity -

Note C - Stockholders' Equity - Summary of Stock Option Valuation Assumptions (Details)	6 Months Ended
	Dec. 31, 2023 $ / shares
Stock Price at Date of Grant (in dollars per share)	$ 248
Risk-free interest rate	3.97%
Expected volatility of common stock	90.37%
Dividend yield	0%
Expected life of options (in years) (Year)	10 years

Note D - Income Taxes and Ava_3

Note D - Income Taxes and Available Carryforward (Details Textual) - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards	$ 863,000
Effective Income Tax Rate Reconciliation, Percent, Total	25.35%	25.35%

Note D - Income Taxes and Ava_4

Note D - Income Taxes and Available Carryforward - Provision for Income Tax Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Federal			$ 0	$ 0
State			0	0
Current Federal, State and Local, Tax Expense (Benefit)			0	0
Federal			(120,695)	7,293
State			(24,973)	1,509
Deferred Federal, State and Local, Tax Expense (Benefit)			(145,668)	8,802
INCOME TAX (EXPENSE)/ BENEFIT	$ (155,038)	$ 6,431	$ (145,668)	$ 8,802

Note D - Income Taxes and Ava_5

Note D - Income Taxes and Available Carryforward - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
NOL and contribution carryforwards	$ 218,665
Share based payments	6,387
Lease liabilities - operating leases	103,321
Accrued compensated absences	9,985
Accrued bonus	3,346
Allowance for doubtful accounts	4,747
Total deferred tax assets	346,451
Right-of-use-assets - operating leases	(109,858)
Excess of tax over book depreciation	(44,549)
Total deferred tax (liabilities)	(154,407)
Total deferred tax asset	192,044
Valuation Allowance	(176,532)	$ 0
Net Deferred tax asset	$ 15,512	$ 161,180

Note D - Income Taxes and Ava_6

Note D - Income Taxes and Available Carryforward - Changes in the Valuation Allowance (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Valuation Allowance	$ (176,532)	$ 0

Note D - Income Taxes and Ava_7

Note D - Income Taxes and Available Carryforward - Income Taxes Reconciliation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Expected (provision) at US statutory rate			$ 27,520	$ 7,784
State income tax net of federal (provision)			5,694	1,611
Nondeductible Expense			(2,611)	(593)
Change in estimates of loss carryforward			(261)	31,960
Change in valuation allowance			(176,532)	31,960
Income Tax (Expense)	$ (155,038)	$ 6,431	$ (145,668)	$ 8,802

Note E - Line of Credit (Detail

Note E - Line of Credit (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	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		6 Months Ended
	May 31, 2021	Jan. 31, 2021	Aug. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2015
Variable Lease, Cost				$ 50,567	$ 50,020	$ 101,135	$ 100,041
Operating Lease, Weighted Average Remaining Lease Term (Year)				2 years 2 months 23 days		2 years 2 months 23 days
Operating Lease, Weighted Average Discount Rate, Percent				3.29%		3.29%
Sublease Income				$ 8,958		$ 17,916
Operating Lease For 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%		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 ($)	6 Months Ended		18 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Jun. 30, 2023
ROU assets - operating leases obtained in exchange for lease liabilities - operating leases	$ 979,744
Amortization of ROU assets since lease inception	(546,295)
ROU assets - operating leases at December 31, 2023	433,449		$ 433,449	$ 527,170
Lease liabilities - operating leases on adoption date and increase in lease liabilities		$ 979,744	979,744
Payments on Operating Lease Liability	(85,788)	$ (80,331)	(572,085)
Lease liabilities - operating leases on December 31, 2023	407,659		407,659
Lease liabilities - operating leases due in the 12 months ending December 31, 2024	177,083		177,083	173,565
Lease liabilities - operating leases due after December 31, 2024	$ 230,576		$ 230,576	$ 319,882

Note G - Right-of-use Assets _5

Note G - Right-of-use Assets and Lease Liabilities - Schedule of Sublease Income (Details)	Dec. 31, 2023 USD ($)
2024	$ 32,846
2025	0
2026	0
2027	0
2028	0
Lessor, Operating Lease, Payment to be Received	$ 32,846