PCYN Procyon Corp (PK)

PROCYON CORPORATION & SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

March 31, 2024 and June 30, 2023

 

 

The accompanying notes are an integral part of these financial statements.

 

 

PROCYON CORPORATION & SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three and Nine Months Ended March 31, 2024 and 2023

 

 

The accompanying notes are an integral part of these financial statements.

 

 

PROCYON CORPORATION & SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

For the Nine Months Ended March 31, 2024 and 2023

 

 

 

The accompanying notes are an integral part of these financial statements.

 

 

PROCYON CORPORATION & SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Nine Months Ending March 31, 2024 and 2023

 

 

The accompanying notes are an integral part of these financial statements.

 

 

Notes to Financial Statements

 

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 March 31, 2024, 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 options granted during the quarter ended March 31, 2024.

 

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.

 

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Additional information with respect to stock option activity is as follows:

 

		Number of Shares				Weighted Average Exercise Price
Outstanding at March 31, 2022			115,000			$	0.26
Granted			-			$	-
Exercised			-			$	-
Cancelled			-			$	-
Outstanding at March 31, 2023			115,000			$	0.26
Granted			25,432			$	0.25
Exercised			-			$	-
Cancelled			-			$	-
Outstanding at March 31, 2024			140,432			$	0.26
Options exercisable at March 31, 2023			115,000			$	0.26
Options exercisable at March 31, 2024			140,432			$	0.26

 

EARNINGS PER SHARE

 

Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock.

 

For the nine months ended March 31, 2024, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations.

 

For the nine months ended March 31, 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.

 

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NOTE B - INVENTORIES

 

Inventories consisted of the following:		March 31, 2024				June 30, 2023
Finished Goods		$	618,349			$	576,548
Raw Materials			182,838				185,370
		$	801,187			$	761,918

 

At March 31, 2024 and June 30, 2023, respectively, $265,694 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

 

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 per share of Series A Preferred Stock per annum. Dividends will accrue without interest and will be cumulative from the date of issuance of the Series A Preferred Stock and will be payable quarterly in arrears in cash or publicly traded common stock when and if declared by the Board of Directors. As of March 31, 2024, no dividends have been declared. Dividends in arrears on the outstanding preferred shares total $449,914 as of March 31, 2024.

 

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 of Common Stock at the close of a public offering of Common Stock by the Company provided the Company receives gross proceeds of at least $1,000,000, and the initial offering price of the Common Stock sold in such offering is equal to or in excess of $1 per share. The Company is obligated to reserve an adequate number of shares of its common stock to satisfy the conversion of all the outstanding Series A Preferred Stock. There were 200 shares converted during the reporting period. So long as any share of Series A Preferred Stock is outstanding, the Company is prohibited from declaring dividends or other distributions related to its Common Stock or purchasing, redeeming or otherwise acquiring any of the Common Stock.

 

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 March 31, 2024 and 2023 was $0 and $0 respectively.      

            

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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 (in years)			10

 

 

NOTE D - INCOME TAXES AND AVAILABLE CARRYFORWARD

 

As of March 31, 2024, the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $904,000. NOL arising before December 31, 2020 will expire in various years ending through the year 2035 and for losses arising in taxable years beginning after December 31, 2020, the deduction is limited to 80% of taxable income and can be carried forward indefinitely. The utilization of certain loss carryforwards are limited under Section 382 of the Internal Revenue Code.

 

The components of the provision for income tax (expense) attributable to continuing operations are as follows:

 

		Nine Months March 31, 2024				Nine Months March 31, 2023
Current
Federal		$	0			$	0
State			0				0
		$	0			$	0
Deferred
Federal		$	(151,294	)		$	15,053
State			(31,303	)			3,115
		$	(182,597	)		$	18,168
Total Income Tax Benefit / (Expense)		$	(182,597	)		$	18,168

 

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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		$	229,019
Share based payments			6,387
Lease liabilities - operating leases			92,317
Accrued compensated absences			11,186
Accrued bonus			4,070
Allowance for expected credit losses and sales returns			5,336
Total deferred tax assets			348,315
Deferred tax (liabilities)
Right-of-use-assets - operating leases			(97,848	)
Excess of tax over book depreciation			(42,818	)
Total deferred tax (liabilities)			(140,666	)
Total deferred tax (liabilities)			207,649
Valuation Allowance			(229,066	)
Net Deferred tax (liabilities)		$	(21,417	)

 

The change in the valuation allowance is as follows:

 

June 30, 2023		$	-
March 31, 2024		$	(229,066	)
		$	(229,066	)

 

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Income taxes for the nine months ended March 31, 2024 and 2023 differ from the amounts computed by applying the effective income tax rate of 25.35%, to income before income taxes as a result of the following:

 

		Nine Months March 31, 2024				Nine Months March 31, 2023
Expected (provision) at US statutory rate		$	41,269			$	15,987
State income tax net of federal (provision)			8,539				3,308
Nondeductible Expense			(3,599	)			(1,127	)
Change in estimates of loss carryforward			260				(31,960	)
Change in valuation allowance			(229,066	)		$	31,960
Income Tax (Expense)		$	(182,597	)		$	18,168

 

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

 

A line of credit was procured in June 2021. 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 March 31, 2024, the Company owed $0 on the line of credit.

 

Interest expense for the year ended June 30, 2023 and the period ending March 31, 2024, was $0 and $0, respectively.

 

The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.

 

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.

 

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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 rent for the first four months of the lease and pays $4,792.50 per month beginning the 5th month of the lease. Rent will increase each succeeding year by no less than 2% but not more than 5%. The rent amount includes common area maintenance charges which are considered nonlease components. In applying ASC 842, the Company is electing to account for nonlease components as being related to the lease component. In addition, the Company uses a lease term of 64 months and an incremental borrowing rate at prime rate of 3.25% which was the borrowing rate on the Company’s recent line of credit with a financial institution.

 

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 rent for the first four months of the lease and pays $9,372 per month beginning the 5th month of the lease. Rent will increase each succeeding year by no less than 2% but not more than 5%. The rent amount includes common area maintenance charges which are considered nonlease components. In applying ASC 842, the Company is electing to account for nonlease components as being related to the lease component. The Company also incurred initial direct cost of $114,083 related to existing improvements in the leased space. This initial direct cost has been included in determining the initial ROU asset and liability amounts. In addition, the Company uses a lease term of 64 months and an incremental borrowing rate at prime rate of 3.25% which was the borrowing rate on the Company’s recent 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		$	(593,680	)
ROU assets - operating leases at March 31, 2024		$	386,064
Lease liabilities - operating leases on adoption date and increase in lease liabilities		$	979,744
Payments on lease liabilities			(615,504	)
Lease liabilities - operating leases on March 31, 2024			364,240
Lease liabilities - operating leases due in the 12 months ending March 31, 2024			178,861
Lease liabilities - operating leases due after March 31, 2024		$	185,379

 

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Variable lease expense was $50,567 and $50,020 for the three months ended March 31, 2024 and 2023, respectively.

 

Variable lease expense was $151,702 and $150,061 for the nine months ended March 31, 2024 and 2023, respectively.

 

Weighted average remaining lease term was 1.99 years and weighted average discount rate was 3.28% at March 31, 2024.

 

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, which was exercised for another year. The Company received sublease income of $9,385 and $27,301 during the three and nine months ended March 31, 2024, respectively.

 

The following is the amount of sublease income the Company will receive over the next five years:

 

12 months ending March 31,
2024		$	23,888
2025			-
2026			-
2027			-
2028			-
		$	23,888

 

 

NOTE H - SUBSEQUENT EVENTS

 

We have evaluated subsequent events through May 21, 2024, which is the date the financial statements were available to be issued.

 

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ITEM 2.         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

 

General

 

You should read the following discussion and analysis in conjunction with the unaudited Condensed Financial Statements and Notes thereto appearing elsewhere in this report.

 

This Report on Form 10-Q, including Management's Discussion and Analysis of Financial Condition and Results of Operations, contains forward-looking statements. When used in this report, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," "hope," "believe" and similar expressions, variations of these words or the negative of those words, and, any statement regarding possible or assumed future results of operations of the Company's business, the markets for its products, anticipated expenditures, regulatory developments or competition, or other statements regarding matters that are not historical facts, are intended to identify forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding events, conditions and financial trends including, without limitation, business conditions in the skin and wound care market and the general economy, competitive factors, changes in product mix, production delays, product recalls, manufacturing capabilities, the loss of any significant customers or suppliers, general supply chain delays, the cost of rising inflation, cyber security breaches, natural disaster impacts, the impact of the COVID-19 pandemic on the Company’s sales, operations and supply chain and other risks or uncertainties detailed in other of the Company's Securities and Exchange Commission filings. Such statements are based on management's current expectations and are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company's actual plan of operations, business strategy, operating results and financial position could differ materially from those expressed in, or implied by, such forward-looking statements.

 

Recent Developments

 

In fiscal 2024 to date, management has expanded on the services and options the Company provides for its customers. Amerx expanded our collagen line with the introduction of a individual size Collagen Gel tube and two new Wound Recovery Kit options for our professional market.

 

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

 

The Company's condensed consolidated financial statements have been prepared in accordance with standards of the Public Company Accounting Oversight Board (United States), which require the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosures. A summary of those significant accounting policies can be found in the Notes to the Consolidated Financial Statements included in the Company's annual report on form 10-K, for the year ended June 30, 2023, which was filed with the Securities and Exchange Commission on September 28, 2023. The estimates used by management are based upon the Company's historical experiences combined with management's understanding of current facts and circumstances. Certain of the Company's accounting policies are considered critical as they are both important to the portrayal of the Company's financial condition and the results of its operations and require significant or complex judgments on the part of management. We believe that the following critical accounting policies affect the more significant judgments and estimates used in the preparation of our consolidated financial statements.

 

 

Accounts Receivable Allowance

 

Accounts receivable allowance reflects a reserve that reduces our customer accounts and receivable to the net amount estimated to be collectible. The valuation of accounts receivable is based upon the credit-worthiness of customers and third-party payers as well as historical collection experience. Allowances for expected credit losses 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 experience, current trends, credit policy and on the analysis of accounts by aging category. At March 31, 2024, and June 30, 2023, our allowance for expected credit losses totaled $15,000 and $11,625, respectively.

 

Advertising and Marketing

 

The Company uses several forms of advertising, including sponsorships to agencies who represent the professionals in their respective fields. The Company expenses these sponsorships over the term of the advertising arrangements on a straight line basis. Other forms of advertising used by the Company include professional journal advertisements, distributor catalogs, website and mailing campaigns. These forms of advertising are expensed when incurred.

 

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 enacted 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. The Company had a valuation allowance of $229,066 as of March 31, 2024 and $0 as of June 30, 2023, respectively. Because the recoverability of deferred tax assets is directly dependent upon future operating results, actual recoverability of deferred tax assets may differ materially from our estimates.

 

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.

 

 

Stock Based Compensation

 

Stock based compensation is accounted for in accordance with Topic 718 - Compensation - Stock Compensation in the Accounting Standards Codification. 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.

 

FINANCIAL CONDITION

 

As of March 31, 2024 the Company's principal sources of liquid assets included cash of $325,130, inventories of $535,493, and net accounts receivable of $481,884. The Company also has $576,522 in Certificate of Deposits. The Company had net working capital of $1,501,553, and long-term lease of $185,379, at March 31, 2024.

 

During the nine months ended March 31, 2024 cash decreased from $451,306 as of June 30, 2023, to $325,130. Operating activities used cash of $63,891 during the period. Investing activities used cash of $62,285 during the period.

 

The Company reflected a net non-current deferred tax liabilities of $21,417, at March 31, 2024. Because the recoverability of deferred tax assets is directly dependent upon future operating results, actual recoverability of deferred tax assets may differ materially from our estimates.

 

RESULTS OF OPERATIONS

 

Comparison of the three and nine months ended March 31, 2024 and 2023.

 

Net sales during the quarter ended March 31, 2024, were $1,198,539 as compared to the previous year's quarter net sales of $1,124,824, an increase of $73,715, or approximately 7%. Net sales during the nine months ended March 31, 2024, were $3,571,699 as compared to the previous year's period net sales of $3,484,464, an increase of $87,235, or approximately 3%.

 

Gross profit during the quarter ended March 31, 2024, was $937,765 as compared to $861,270 during the quarter ended March 31, 2023, an increase of $76,495 or 9%. As a percentage of net sales, gross profit was approximately 78% in the quarter ended March 31, 2024, and approximately 77% in the corresponding quarter in 2023. We believe the increase in Gross Profit comes from a shift in sales channels to more sales coming from our highest margin channels of physician and retail sales. Gross profit during the nine months ended March 31, 2024, was $2,786,896 as compared to $2,632,551 during the nine months ended March 31, 2023, an increase of $154,345 or 6%. As a percentage of net sales, gross profit was approximately 78% in the nine months ended March 31, 2024, and approximately 76% in the corresponding period in 2023. We believe the increase in Gross Profit comes from a shift in sales channels to more sales coming from our highest margin channels of physician and retail sales.

 

Operating expenses during the quarter ended March 31, 2024 were $1,019,557, consisting of $516,349 in salaries and benefits and $503,208 in selling, general and administrative expenses. This compares to operating expenses during the quarter ended March 31, 2023 of $912,500, consisting of $465,788 in salaries and benefits; and $446,712 in selling, general and administrative expenses. Expenses for the quarter ended March 31, 2024, increased by $107,057 or approximately 12% compared to the corresponding quarter in 2023. Salaries and Benefits increased as a result of increased sales personnel, along with continued economic competitive pressures on salaries for good current employees. Operating expenses increased as channel fees, depreciation and sales personnel cost rose. Operating expenses during the nine months ended March 31, 2024 were $3,027,494, consisting of $1,496,853 in salaries and benefits and $1,530,641 in selling, general and administrative expenses. This compares to operating expenses during the nine months ended March 31, 2023 of $2,726,779, consisting of $1,381,578 in salaries and benefits; and $1,345,201 in selling, general and administrative expenses. Expenses for the nine months ended March 31, 2024, increased by $300,715 or approximately 11% compared to the corresponding period in 2023. Salaries and Benefits increased as a result of addition of sales personnel, along with continued economic competitive pressures on salaries for current employees. Operating expenses increased as channel marketing and fees, depreciation and delivery fees rose.                  

 

 

Operating loss increased by $30,562 to an operating loss of $81,792 for the quarter ended March 31, 2024, as compared to an operating loss of $51,230 in the comparable quarter of the prior year. The increase in net loss for the three month period, of the comparable quarter of the prior year before income taxes was primarily attributable to the increases in operating expenses. Operating loss increased by $146,370 to an operating loss of $240,598 for the nine months ended March 31, 2024 as compared to an operating loss of $94,228 in the comparable period of the prior year. The increase in net loss for the nine month period, of the comparable period of the prior year before income taxes was primarily attributable to the increases in operating expenses.

 

ITEM 4. CONTROLS AND PROCEDURES

 

(a) Evaluation of Disclosure Controls and Procedures

 

Management of the Company, with the participation of the Chief Executive Officer and Chief Financial Officer, has conducted an evaluation of the effectiveness of the Company's disclosure controls and procedures pursuant to Rule 13a-15 under the Securities Exchange Act of 1934 as of the end of the period covered by this report. Based on that evaluation, management, including the Chief Executive and Chief Financial Officer, has concluded that, as of the end of the period covered by this report, the Company's disclosure controls and procedures were not effective in ensuring that all material information relating to the Company required to be disclosed in this report has been made known to management in a timely manner and ensuring that this information is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and regulations, because of the identification of a material weakness in our internal controls over financial reporting, identified below, which we view as an integral part of our disclosure controls and procedures.

 

(b) Changes in Internal Controls Over Financial Reporting

 

As previously reported, our annual assessment of the internal controls over financial reporting as of June 30, 2023 revealed a deficiency that we consider to be a material weakness: inadequate segregation of duties consistent with control objectives.

 

During fiscal 2024, the Company will continue to address changes needed to improve segregation of duties consistent with control objectives. We have added staff to grow sales. We expect that increased sales will enable us to add support staff, specifically in the accounting and shipping departments. A secondary effect of adding more staff will address needed improvements in segregation of duties consistent with control objectives.

 

 

PART II. OTHER INFORMATION

ITEM 5. OTHER INFORMATION

 

(c) Trading Plans		During the quarter ended March 31, 2024, no director or officer adopted or terminated:
(i)		Any contract, instruction or written plan for the purchase or sale of securities of the Company intended to satisfy the affirmative defense conditions of Rule 10b5-1(c); and;
(Ii)		Any “non-Rule 10b5-1 trading arrangement” as defined in paragraph (c) of item 408(a) of Regulation S-K.

 

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ITEM 6. EXHIBITS

 

	(A) EXHIBITS
	//	10.1	Restated and Amended Executive Employment Agreement effective July 1, 2023 between Justice W. Anderson, Procyon Corporation and AMERX Health Care Corporation.
	//	10.2	Restated and Amended Executive Employment Agreement effective July 1, 2023 between James B. Anderson, Procyon Corporation and AMERX Health Care Corporation.
	//	10.3	Restated and Amended Executive Employment Agreement effective July 1, 2023 between George O. Borak, Procyon Corporation and AMERX Health Care Corporation.
	++	10.5	Business Line of Credit - Loan Agreement dated June 10, 2021
	++	10.6	Business Line of Credit - Promissory Note dated June 10, 2021
	**	10.7	Lease (164-166), effective January 15, 2021.
	**	10.8	Lease (172), effective January 15, 2021.
		31.1	Certification of Justice W. Anderson pursuant to Exchange Act Rule 13a-14(a)/15d-14(a)
		31.2	Certification of James B. Anderson pursuant to Exchange Act Rule 13a-14(a)/15d-14(a)
		32.1	Certification Pursuant to 18 U.S.C.§1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act Of 2002
		101.1*	The following materials from the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, formatted in iXBRL (Inline Extensible Business Reporting Language): (I) the Condensed Balance Sheets, (ii) the Condensed Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to Condensed Consolidated Financial Statements
		104	Cover Page Interactive Data File (embedded within the Inline XBRL and contained in Exhibit 101)
		*	Furnished, not filed
		//	Incorporated by reference to the Company’s form 10-K filed on or about September 28, 2022.
		++	Incorporated by reference to the Company’s form 10-K filed on or about October 28, 2021.
		**	Incorporated by reference to the Company’s form 8-K filed on or about January 27, 2021.

 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, there unto duly authorized.

 

	PROCYON CORPORATION
May 24, 2024	By:/s/ JUSTICE W. ANDERSON
Date	Justice W. Anderson, Chief Executive Officer

 

Exhibit 31.1

 

CERTIFICATION

 

I, Justice W. Anderson, Chief Executive Officer of Procyon Corporation, certify that:

 

1.	I have reviewed this quarterly report on Form 10-Q of Procyon Corporation

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; and

 

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report.

 

4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant issuer and have:

 

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.	The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

(a)

all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

(b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: May 24, 2024

 

/s/ JUSTICE W. ANDERSON

Justice W. Anderson, Chief Executive Officer

 

Exhibit 31.2

 

CERTIFICATION

 

I, James B. Anderson, Chief Financial Officer of Procyon Corporation, certify that:

 

1.	I have reviewed this quarterly report on Form 10-Q of Procyon Corporation

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to stated material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; and

 

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report.

 

4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant issuer and have:

 

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.	The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

(a)

all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

(b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: May 24, 2024

/s/ JAMES B. ANDERSON

James B. Anderson, Chief Financial Officer

 

 

Exhibit 32.1

 

CERTIFICATION PURSUANT TO 18 U.S.C. §1350,

AS ADOPTED PURSUANT TO SECTION 906OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Procyon Corporation (the "Company") on Form 10-Q for the period ended March 31, 2024, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), we, the undersigned Chief Executive Officer and Chief Financial Officer of the Company, do each certify, to our knowledge, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 

Dated: May 24, 2024

 

/s/ JUSTICE W. ANDERSON	/s/ JAMES B. ANDERSON
Justice W. Anderson Chief Executive Officer	James B. Anderson, Chief Financial Officer

 

v3.24.1.1.u2

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2024	May 07, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	Q3
Amendment Flag	false

v3.24.1.1.u2

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
CURRENT ASSETS
Cash	$ 325,130	$ 451,306
Certificates of Deposit, plus accrued interest	576,522	562,472
Accounts Receivable, less allowance for expected credit losses of $15,000 and $11,625 respectively.	481,884	493,953
Inventories	535,493	431,405
Prepaid Expenses	373,033	298,469
TOTAL CURRENT ASSETS	2,292,062	2,237,605
PROPERTY AND EQUIPMENT, NET	281,134	281,023
OTHER ASSETS
Deposits	4,665	9,220
Inventories	265,694	330,513
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	386,064	527,170
Deferred Tax Assett, net of valuation allowance of $0	0	161,180
Assets, Noncurrent, Excluding Property, Plant and Equipment	673,423	1,045,083
TOTAL ASSETS	3,246,619	3,563,711
CURRENT LIABILITIES
Accounts Payable	208,435	175,057
Accrued Expenses	403,213	277,498
Short Term Lease Liabilities	178,861	173,565
TOTAL CURRENT LIABILITIES	790,509	626,120
LONG TERM LIABILITIES
Lease Liability, Non-Current	185,379	319,882
Deferred Tax Liability , net of valuation allowance of 229,066.	21,417	0
TOTAL LONG TERM LIABILITIES	206,796	319,882
TOTAL LIABILITIES	997,305	946,002
STOCKHOLDERS' EQUITY
Common Stock, no par value, 80,000,000 shares authorized; 8,108,388 and 8,087,388 shares issued and outstanding , respectively outstanding.	4,450,166	4,444,766
Paid-in Capital	41,085	35,564
Accumulated Deficit	(2,368,597)	(1,989,481)
TOTAL STOCKHOLDERS' EQUITY	2,249,314	2,617,709
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,246,619	3,563,711
Nondesignated Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock	0	0
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock	$ 126,660	$ 126,860

v3.24.1.1.u2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Mar. 31, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 15,000	$ 11,625
Deferred Tax Assets, Valuation Allowance	229,066	$ (0)
Deferred Tax Liabilities, Valuation Allowance	$ 229,066
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
Nondesignated Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	496,000,000	496,000,000
Preferred Stock, Shares Issued (in shares)	0	0
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

v3.24.1.1.u2

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
NET SALES	$ 1,198,539	$ 1,124,824	$ 3,571,699	$ 3,484,464
COST OF SALES	260,774	263,554	784,803	851,913
GROSS PROFIT	937,765	861,270	2,786,896	2,632,551
OPERATING EXPENSES
Salaries and Benefits	516,349	465,788	1,496,853	1,381,578
Selling, General and Administrative	503,208	446,712	1,530,641	1,345,201
Operating Costs and Expenses	1,019,557	912,500	3,027,494	2,726,779
(LOSS) FROM OPERATIONS	(81,792)	(51,230)	(240,598)	(94,228)
OTHER INCOME
(Loss) on Disposal of Assets		0	(1,214)	0
Other Income	356	8,531	974	11,375
Rental Income	8,957		26,873
Interest Income / (Expense)	6,620	3,862	17,446	6,949
Nonoperating Income (Expense)	15,933	12,393	44,079	18,324
(LOSS) BEFORE INCOME TAXES	(65,859)	(38,837)	(196,519)	(75,904)
INCOME TAX (EXPENSE) / BENEFIT	(36,929)	9,366	(182,597)	18,168
NET (LOSS)	(102,788)	(29,471)	(379,116)	(57,736)
Dividend requirements on preferred stock	(4,173)	(4,179)	(11,978)	(12,533)
Basic net (loss) available to common shares	$ (106,961)	$ (33,650)	$ (391,094)	$ (70,269)
Basic net (loss) per common share (in dollars per share)	$ (0.01)	$ (0)	$ (0.05)	$ (0.01)
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)	$ (0.01)	$ 0	$ (0.05)	$ (0.01)
Weighted average number of common shares outstanding, diluted (in shares)	8,108,388	8,087,388	8,108,388	8,087,388

v3.24.1.1.u2

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)
Net (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)					(57,736)
Net (Loss)					(57,736)
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
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)
Net (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)
Net (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
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	0	0	0
Net Income (Loss)	0	0	0	(33,855)	(33,855)
Net (Loss)	$ 0	$ 0	0	(33,855)	(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)					(379,116)
Net (Loss)					(379,116)
Balance (in shares) at Mar. 31, 2024	166,900	8,108,388
Balance at Mar. 31, 2024	$ 126,660	$ 4,450,166	41,085	(2,368,597)	2,249,314
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	0	0	(242,473)	(242,473)
Net (Loss)	$ 0	$ 0	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
Net Income (Loss)	0	0	0	(102,788)	(102,788)
Net (Loss)	$ 0	$ 0	0	(102,788)	(102,788)
Balance (in shares) at Mar. 31, 2024	166,900	8,108,388
Balance at Mar. 31, 2024	$ 126,660	$ 4,450,166	$ 41,085	$ (2,368,597)	$ 2,249,314

v3.24.1.1.u2

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended		21 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (102,788)	$ (33,855)	$ (29,471)	$ (8,187)	$ (379,116)	$ (57,736)
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:
Depreciation					60,960	33,484
Allowance for Doubtful Accounts					3,375	(1,944)
Right of Use Asset Amortization					141,106	135,487
Accrued Interest on Cetificate of Deposit					(14,050)	0
Deferred Income Taxes					(46,469)	13,792
Valuation Allowance					229,066	(31,960)
(Gain)/Loss on Sale of Assets					(1,214)	(0)
Payment on Operating Lease Liability					(129,205)	(120,987)	$ (615,504)
Decrease (increase) in:
Accounts Receivable					8,694	(103,823)
Deposits					4,555	3,341
Inventory					(39,269)	73,111
Prepaid Expenses					(74,564)	(80,181)
Increase (decrease) in:
Accounts Payable					33,378	30,005
Accrued Expenses					136,434	(25,829)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES					(63,891)	(133,240)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of CD						(277,277)
Purchase of property & equipment					(62,285)	(26,089)
NET CASH (USED IN) INVESTING ACTIVITIES					(62,285)	(303,366)
CASH FLOW FROM FINANCING ACTIVITIES
NET CHANGE IN CASH					(126,176)	(436,606)
CASH AT BEGINNING OF PERIOD		$ 451,306		$ 760,396	451,306	760,396	760,396
CASH AT END OF PERIOD	$ 325,130		$ 323,790		325,130	323,790	$ 325,130
SUPPLEMENTAL DISCLOSURES
Interest Paid					0	0
Taxes Paid					$ 0	$ 0

v3.24.1.1.u2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
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)	200
Conversion of Stock, Amount Converted		$ 200

v3.24.1.1.u2

Note A - Summary of Accounting Policies	9 Months Ended
	Mar. 31, 2024
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 March 31, 2024, 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 options granted during the quarter ended March 31, 2024.   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 March 31, 2022     115,000     $ 0.26   Granted     -     $ -   Exercised     -     $ -   Cancelled     -     $ -   Outstanding at March 31, 2023     115,000     $ 0.26   Granted     25,432     $ 0.25   Exercised     -     $ -   Cancelled     -     $ -   Outstanding at March 31, 2024     140,432     $ 0.26   Options exercisable at March 31, 2023     115,000     $ 0.26   Options exercisable at March 31, 2024     140,432     $ 0.26     EARNINGS PER SHARE   Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock.   For the nine months ended March 31, 2024, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations.   For the nine months ended March 31, 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.

v3.24.1.1.u2

Note B - Inventories	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE B - INVENTORIES   Inventories consisted of the following:   March 31, 2024     June 30, 2023                     Finished Goods   $ 618,349     $ 576,548   Raw Materials     182,838       185,370       $ 801,187     $ 761,918     At March 31, 2024 and June 30, 2023, respectively, $265,694 and $330,513 of our inventory was considered non-current as it will not be used within a one year period.

v3.24.1.1.u2

Note C - Stockholders' Equity	9 Months Ended
	Mar. 31, 2024
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 per share of Series A Preferred Stock per annum. Dividends will accrue without interest and will be cumulative from the date of issuance of the Series A Preferred Stock and will be payable quarterly in arrears in cash or publicly traded common stock when and if declared by the Board of Directors. As of March 31, 2024, no dividends have been declared. Dividends in arrears on the outstanding preferred shares total $449,914 as of March 31, 2024.   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 of Common Stock at the close of a public offering of Common Stock by the Company provided the Company receives gross proceeds of at least $1,000,000, and the initial offering price of the Common Stock sold in such offering is equal to or in excess of $1 per share. The Company is obligated to reserve an adequate number of shares of its common stock to satisfy the conversion of all the outstanding Series A Preferred Stock. There were 200 shares converted during the reporting period. So long as any share of Series A Preferred Stock is outstanding, the Company is prohibited from declaring dividends or other distributions related to its Common Stock or purchasing, redeeming or otherwise acquiring any of the Common Stock.   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 March 31, 2024 and 2023 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 (in years)     10

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D - INCOME TAXES AND AVAILABLE CARRYFORWARD   As of March 31, 2024, the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $904,000. NOL arising before December 31, 2020 will expire in various years ending through the year 2035 and for losses arising in taxable years beginning after December 31, 2020, the deduction is limited to 80% of taxable income and can be carried forward indefinitely. The utilization of certain loss carryforwards are limited under Section 382 of the Internal Revenue Code.   The components of the provision for income tax (expense) attributable to continuing operations are as follows:       Nine Months March 31, 2024     Nine Months March 31, 2023   Current                 Federal   $ 0     $ 0   State     0       0       $ 0     $ 0   Deferred                 Federal   $ (151,294 )   $ 15,053   State     (31,303 )     3,115       $ (182,597 )   $ 18,168                     Total Income Tax Benefit / (Expense)   $ (182,597 )   $ 18,168     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   $ 229,019   Share based payments     6,387   Lease liabilities - operating leases     92,317   Accrued compensated absences     11,186   Accrued bonus     4,070   Allowance for expected credit losses and sales returns     5,336   Total deferred tax assets     348,315                       Deferred tax (liabilities)         Right-of-use-assets - operating leases     (97,848 ) Excess of tax over book depreciation     (42,818 ) Total deferred tax (liabilities)     (140,666 )           Total deferred tax (liabilities)     207,649   Valuation Allowance     (229,066 ) Net Deferred tax (liabilities)   $ (21,417 )   The change in the valuation allowance is as follows:   June 30, 2023   $ -   March 31, 2024   $ (229,066 )     $ (229,066 )   Income taxes for the nine months ended March 31, 2024 and 2023 differ from the amounts computed by applying the effective income tax rate of 25.35%, to income before income taxes as a result of the following:       Nine Months March 31, 2024     Nine Months March 31, 2023   Expected (provision) at US statutory rate   $ 41,269     $ 15,987   State income tax net of federal (provision)     8,539       3,308   Nondeductible Expense     (3,599 )     (1,127 ) Change in estimates of loss carryforward     260       (31,960 ) Change in valuation allowance     (229,066 )   $ 31,960   Income Tax (Expense)   $ (182,597 )   $ 18,168     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.

v3.24.1.1.u2

Note E - Line of Credit	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE E - LINE OF CREDIT   A line of credit was procured in June 2021. 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 March 31, 2024, the Company owed $0 on the line of credit.   Interest expense for the year ended June 30, 2023 and the period ending March 31, 2024, was $0 and $0, respectively.   The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.

v3.24.1.1.u2

Note F - Recent Accounting Pronouncements	9 Months Ended
	Mar. 31, 2024
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.

v3.24.1.1.u2

Note G - Right-of-use Assets and Lease Liabilities	9 Months Ended
	Mar. 31, 2024
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 rent for the first four months of the lease and pays $4,792.50 per month beginning the 5th month of the lease. Rent will increase each succeeding year by no less than 2% but not more than 5%. The rent amount includes common area maintenance charges which are considered nonlease components. In applying ASC 842, the Company is electing to account for nonlease components as being related to the lease component. In addition, the Company uses a lease term of 64 months and an incremental borrowing rate at prime rate of 3.25% which was the borrowing rate on the Company’s recent line of credit with a financial institution.   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 rent for the first four months of the lease and pays $9,372 per month beginning the 5th month of the lease. Rent will increase each succeeding year by no less than 2% but not more than 5%. The rent amount includes common area maintenance charges which are considered nonlease components. In applying ASC 842, the Company is electing to account for nonlease components as being related to the lease component. The Company also incurred initial direct cost of $114,083 related to existing improvements in the leased space. This initial direct cost has been included in determining the initial ROU asset and liability amounts. In addition, the Company uses a lease term of 64 months and an incremental borrowing rate at prime rate of 3.25% which was the borrowing rate on the Company’s recent 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   $ (593,680 ) ROU assets - operating leases at March 31, 2024   $ 386,064             Lease liabilities - operating leases on adoption date and increase in lease liabilities   $ 979,744   Payments on lease liabilities     (615,504 ) Lease liabilities - operating leases on March 31, 2024     364,240   Lease liabilities - operating leases due in the 12 months ending March 31, 2024     178,861   Lease liabilities - operating leases due after March 31, 2024   $ 185,379     Variable lease expense was $50,567 and $50,020 for the three months ended March 31, 2024 and 2023, respectively.   Variable lease expense was $151,702 and $150,061 for the nine months ended March 31, 2024 and 2023, respectively.   Weighted average remaining lease term was 1.99 years and weighted average discount rate was 3.28% at March 31, 2024.   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, which was exercised for another year. The Company received sublease income of $9,385 and $27,301 during the three and nine months ended March 31, 2024, respectively.   The following is the amount of sublease income the Company will receive over the next five years:   12 months ending March 31,         2024   $ 23,888   2025     -   2026     -   2027     -   2028     -       $ 23,888

v3.24.1.1.u2

Note H - Subsequent Events	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE H - SUBSEQUENT EVENTS   We have evaluated subsequent events through May 21, 2024, which is the date the financial statements were available to be issued.

v3.24.1.1.u2

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		ITEM 5. OTHER INFORMATION   (c) Trading Plans   During the quarter ended March 31, 2024, no director or officer adopted or terminated: (i)   Any contract, instruction or written plan for the purchase or sale of securities of the Company intended to satisfy the affirmative defense conditions of Rule 10b5-1(c); and; (Ii)   Any “non-Rule 10b5-1 trading arrangement” as defined in paragraph (c) of item 408(a) of Regulation S-K.
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

v3.24.1.1.u2

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2024
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 March 31, 2024, 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 options granted during the quarter ended March 31, 2024.   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 March 31, 2022     115,000     $ 0.26   Granted     -     $ -   Exercised     -     $ -   Cancelled     -     $ -   Outstanding at March 31, 2023     115,000     $ 0.26   Granted     25,432     $ 0.25   Exercised     -     $ -   Cancelled     -     $ -   Outstanding at March 31, 2024     140,432     $ 0.26   Options exercisable at March 31, 2023     115,000     $ 0.26   Options exercisable at March 31, 2024     140,432     $ 0.26
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 nine months ended March 31, 2024, the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from operations.   For the nine months ended March 31, 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.

v3.24.1.1.u2

Note A - Summary of Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares     Weighted Average Exercise Price   Outstanding at March 31, 2022     115,000     $ 0.26   Granted     -     $ -   Exercised     -     $ -   Cancelled     -     $ -   Outstanding at March 31, 2023     115,000     $ 0.26   Granted     25,432     $ 0.25   Exercised     -     $ -   Cancelled     -     $ -   Outstanding at March 31, 2024     140,432     $ 0.26   Options exercisable at March 31, 2023     115,000     $ 0.26   Options exercisable at March 31, 2024     140,432     $ 0.26

v3.24.1.1.u2

Note B - Inventories (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current and Noncurrent [Table Text Block]	Inventories consisted of the following:   March 31, 2024     June 30, 2023                     Finished Goods   $ 618,349     $ 576,548   Raw Materials     182,838       185,370       $ 801,187     $ 761,918

v3.24.1.1.u2

Note C - Stockholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2024
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 (in years)     10

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Nine Months March 31, 2024     Nine Months March 31, 2023   Current                 Federal   $ 0     $ 0   State     0       0       $ 0     $ 0   Deferred                 Federal   $ (151,294 )   $ 15,053   State     (31,303 )     3,115       $ (182,597 )   $ 18,168                     Total Income Tax Benefit / (Expense)   $ (182,597 )   $ 18,168
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Non-Current   Deferred tax assets         NOL and contribution carryforwards   $ 229,019   Share based payments     6,387   Lease liabilities - operating leases     92,317   Accrued compensated absences     11,186   Accrued bonus     4,070   Allowance for expected credit losses and sales returns     5,336   Total deferred tax assets     348,315                       Deferred tax (liabilities)         Right-of-use-assets - operating leases     (97,848 ) Excess of tax over book depreciation     (42,818 ) Total deferred tax (liabilities)     (140,666 )           Total deferred tax (liabilities)     207,649   Valuation Allowance     (229,066 ) Net Deferred tax (liabilities)   $ (21,417 )
Summary of Valuation Allowance [Table Text Block]	June 30, 2023   $ -   March 31, 2024   $ (229,066 )     $ (229,066 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Nine Months March 31, 2024     Nine Months March 31, 2023   Expected (provision) at US statutory rate   $ 41,269     $ 15,987   State income tax net of federal (provision)     8,539       3,308   Nondeductible Expense     (3,599 )     (1,127 ) Change in estimates of loss carryforward     260       (31,960 ) Change in valuation allowance     (229,066 )   $ 31,960   Income Tax (Expense)   $ (182,597 )   $ 18,168

v3.24.1.1.u2

Note G - Right-of-use Assets and Lease Liabilities (Tables)	9 Months Ended
	Mar. 31, 2024
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   $ (593,680 ) ROU assets - operating leases at March 31, 2024   $ 386,064             Lease liabilities - operating leases on adoption date and increase in lease liabilities   $ 979,744   Payments on lease liabilities     (615,504 ) Lease liabilities - operating leases on March 31, 2024     364,240   Lease liabilities - operating leases due in the 12 months ending March 31, 2024     178,861   Lease liabilities - operating leases due after March 31, 2024   $ 185,379
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	12 months ending March 31,         2024   $ 23,888   2025     -   2026     -   2027     -   2028     -       $ 23,888

v3.24.1.1.u2

Note A - Summary of Accounting Policies (Details Textual) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
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

v3.24.1.1.u2

Note A - Summary of Accounting Policies - Stock Options Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Outstanding, shares (in shares)		115,000	115,000
Outstanding. weighted average exercise price (in dollars per share)		$ 0.26	$ 0.26
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	$ 0.26
Options exercisable, shares (in shares)	140,432	140,432	115,000
Options exercisable. weighted average exercise price (in dollars per share)	$ 0.26	$ 0.26	$ 0.26

v3.24.1.1.u2

Note B - Inventories (Details Textual) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Inventory, Noncurrent, Total	$ 265,694	$ 330,513

v3.24.1.1.u2

Note B - Inventories - Inventories (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Finished Goods	$ 618,349	$ 576,548
Raw Materials	182,838	185,370
Inventory, Gross	$ 801,187	$ 761,918

v3.24.1.1.u2

Note C - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2095	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Jun. 30, 2023
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				$ 449,914
Convertible Preferred Stock, Shares Issued upon Conversion		1		1
Conversion of Stock, Shares Converted (in shares)		200

v3.24.1.1.u2

Note C - Stockholders' Equity - Summary of Stock Option Valuation Assumptions (Details)	9 Months Ended
	Mar. 31, 2024 $ / 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	0.00%
Expected life of options (in years) (Year)	10 years

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward (Details Textual) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Loss Carryforwards	$ 904,000
Effective Income Tax Rate Reconciliation, Percent, Total	25.35%	25.35%

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward - Provision for Income Tax Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Federal			$ 0	$ 0
State			0	0
Current Federal, State and Local, Tax Expense (Benefit)			0	0
Federal			(151,294)	15,053
State			(31,303)	3,115
Deferred Federal, State and Local, Tax Expense (Benefit)			(182,597)	18,168
Total Income Tax Benefit / (Expense)	$ (36,929)	$ 9,366	$ (182,597)	$ 18,168

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward - Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
NOL and contribution carryforwards	$ 229,019
Share based payments	6,387
Lease liabilities - operating leases	92,317
Accrued compensated absences	11,186
Accrued bonus	4,070
Allowance for doubtful accounts	5,336
Total deferred tax assets	348,315
Right-of-use-assets - operating leases	(97,848)
Excess of tax over book depreciation	(42,818)
Total deferred tax (liabilities)	(140,666)
Total deferred tax asset	207,649
Valuation Allowance	(229,066)	$ 0
Net Deferred tax asset	$ (21,417)

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward - Changes in the Valuation Allowance (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Valuation Allowance	$ (229,066)	$ 0

v3.24.1.1.u2

Note D - Income Taxes and Available Carryforward - Income Taxes Reconciliation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Expected (provision) at US statutory rate			$ 41,269	$ 15,987
State income tax net of federal (provision)			8,539	3,308
Nondeductible Expense			(3,599)	(1,127)
Change in estimates of loss carryforward			(260)	31,960
Change in valuation allowance			(229,066)	31,960
Total Income Tax Benefit / (Expense)	$ (36,929)	$ 9,366	$ (182,597)	$ 18,168

v3.24.1.1.u2

Note E - Line of Credit (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	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

v3.24.1.1.u2

Note G - Right-of-use Assets and Lease Liabilities (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	May 31, 2021	Jan. 31, 2021	Aug. 31, 2020	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2015
Variable Lease, Cost				$ 50,567	$ 50,020	$ 151,702	$ 150,061
Operating Lease, Weighted Average Remaining Lease Term (Year)				1 year 11 months 26 days		1 year 11 months 26 days
Operating Lease, Weighted Average Discount Rate, Percent				3.28%		3.28%
Sublease Income				$ 9,385		$ 27,301
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		2.00%
Lessee, Operating Lease, Maximum Yearly Increase of Rent		5.00%
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		2.00%
Lessee, Operating Lease, Maximum Yearly Increase of Rent		5.00%
Operating Lease, Initial Direct Cost Expense, over Term		$ 114,083

v3.24.1.1.u2

Note G - Right-of-use Assets and Lease Liabilities - Right-of-use Assets and Liabilities (Details) - USD ($)	9 Months Ended		21 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Jun. 30, 2023
ROU assets - operating leases obtained in exchange for lease liabilities - operating leases	$ 979,744
Amortization of ROU assets since lease inception	(593,680)
ROU assets - operating leases at March 31, 2024	386,064		$ 386,064	$ 527,170
Lease liabilities - operating leases on adoption date and increase in lease liabilities		$ 979,744	979,744
Payment on Operating Lease Liability	(129,205)	$ (120,987)	(615,504)
Lease liabilities - operating leases on March 31, 2024	364,240		364,240
Lease liabilities - operating leases due in the 12 months ending March 31, 2024	178,861		178,861	173,565
Lease liabilities - operating leases due after March 31, 2024	$ 185,379		$ 185,379	$ 319,882

v3.24.1.1.u2

Note G - Right-of-use Assets and Lease Liabilities - Schedule of Sublease Income (Details)	Mar. 31, 2024 USD ($)
2024	$ 23,888
2025	0
2026	0
2027	0
2028	0
Lessor, Operating Lease, Payment to be Received	$ 23,888

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