Procyon Corp (PK) (PCYN) Quote

PCYN now pink current

Looks to me like its the numbers. Last Q EPS was .03 per share. It they can do that Q over Q that's .12 per year.

Any idea what's behind this recent rally?

Looks like its headed over a buck

Thanks. You could comment on my blog if you’d like more people to see this

You didn't mention a couple very compelling reasons to buy the stock:

1) the insider purchase of 17000 shares @ .16

2) The potential ramifications of the last 8k.

Why are they relocating to a LARGER FACILITY?

The Lease relates to the following leasehold premises: Approximately 3,220 square feet consisting of 2,380 square feet of air conditioned office space and 840 square feet of non-air conditioned warehouse space located at 13100 56 th Court, Suite 702, Clearwater, FL 33760.

Tenant shall be relocating to approximately 4,892 square feet consisting of 800 square feet of air conditioned office space, 2,446 square feet of non air conditioned warehouse space, and 1,646 square feet of air conditioned warehouse space located at 13101 56 th Court, Suite s 805-806 , Clearwater, FL 33760 .
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new writeup on PCYN

I wrote up PCYN on my blog

$PCYN is a Buy and Here's Why
http://www.nonamestocks.com/2018/08/pcyn-is-buy-and-heres-why.html

It did. I'm going to sit the bid with you. Let's see what we can fish out of the weak hands here!

Just got into 'interesting' territory at .11

You probably bought some of mine . This year I sold some in February and rest in May.

Yeah I am. I bought more back in May and wondered who that was selling.

No I am completely out. Sold the rest earlier this year. Not one of my better investments didn't have confidence in its value being realized any time soon. Good luck with it if your still in.

Another year came and went. Are you still in the stock?

I only had glanced at the Q till your post. That is interesting they didn't even get the number of votes in support equal to the shares board members have! I voted against. I think the best thing they could do for shareholders is sell out. Considering their margins a multiple of 2x sales would still be a margin for someone which would put the price at about .50/share. If they don't do that management should make good on their buyback of a few years ago (when the stock was much higher) and do a dutch tender at a much higher price or at least management should try to buy some descent shares (a lot more than the token 5k that was purchased some time ago).

OK I said enough ... Obviously I'm not too big on management these days.

Well ghmm, it looks like I'm here to stay awhile... It looks like the growth trend of the past several years has been broken. I wonder if some customers were lost with the price increase last year.

Hopefully sales can be built back up again. Amerigel gets great reviews from people who use it, but there are alot of good dressings out there. I thinks it's probably pretty hard to compete when your product doesnt have any uniqe charachteristics.

With the 80% gross margins, it doesn't take a whole lot of new sales for the company to start bringing in barrelloads of cash. They are paying off the mortgage note early and I think thats a good sign. Maybe a step closer to starting paying dividends.

In addition, the results of the vote were in the Q. Quite a significant votes were placed against all directors. I wonder if that trust which owns 20% is upset with things.

Quarterly earnings out. Revenue was a schocker, I wasnt expecting the drop at all. Puzzling. I thought we had a great high-margin growth story unfolding. Management attributes the decline to timing of orders from large distributors. Maybe it's just bad timing...

Not to create more work for you but the i-box still has sirius which they sold a couple years ago.

PYCN.. $0.23..

I-Box updated.. Hank

PCYN..

I continue to be baffled by the way this stock trades.. Sold the balance of my position @ 0.22 but think I will reload again on the bid side..

Yeah it would be nice to see them expand a bit. Thanks for the link too!

Along with expectations of continued revenue growth in existing markets, theres some talk in the K about them going after gov contracts and international markets. I dont remember past fillings being so bullish.

I think we have very good opportunity here. The amerigel business has been consistently grownign for the past ten or so years.

The guy who writes the whopperinvestments blog nailed in in a write up in Feb:

http://www.whopperinvestments.com/?s=pcyn

Not a bad quarter and year for the company. My rough calculation is about .006 - .0065 for the quarter and about .021 - .022 for the year... Have to remember they are selling just a bit below book with a fair amount of cash/receivables too.

http://www.sec.gov/Archives/edgar/data/812306/000100009611000244/0001000096-11-000244-index.htm

I didn't read threw the report yet so if any of the other people who follow this board notice something please post.

PCYN.. No updates to report since last post....

PCYN.. No updates to report since last post....

I agree about the dividend (I had forgotten about the preferred and the terms). Think they could get loan terms switched if there were restrictions on dividend given their cash/debt and book value.

My guess is the bulk (if not all) the sales increases have been from price increases. I believe they have taken annual increases. It would be nice if they pick up a product or two, increase their marketing presence. I am not sure how best to do it but I'd like to see them get it done .

'Happy with the status quo' was probably not a good choice of words, but I think they re on the right track. The Amerigel business continues to grow.

The point I was making regarding dividends is that they will surely pay off the debt first and that leaves cash of 600K or so. Before common sharholders can get anything almost 300K has to be paid to prefered. Im sure the comapany management wants to keep a signifigant cash balance on hand so chance of a dividend at this time is low.

I am not so happy with the status quo. I would like to see a bit more growth not sure how they do that. Their attempt at a diabetic business didn't go well. My theory is one brother is more competent then the other but just a guess. Regina is retirement age but it looked like she gave her shares to the children so that hope for a sale is gone .

I don't put a lot of attention in this stock (I bought in to high but am not about to sell at these prices) but I seem to recall there was one pretty significant (non-family) shareholder.

Forgot about the preferred

I dont think we see a dividend anytime soon. I would expect the bank of america loan, which regina anderson has personally guaranteed, to be paid off. Then of course almost 300K in dividends would go to holders of that pesky preferred before we see anything.

In last quarters filings it looks like they made a pretty substantial 50K principle payment on the loan.

I dont think the re going to sell the company either. At least not soon. It's the anderson's family business and they arent close to retirement age at all.

Im happy with the status quo. Revenue growth should be more apparent I think.

Thanks 10 Bagger for selling the shares! I dont't want to bid it up into the 20c range. I guess now we wait around for the ocasional 'tired' holder who wants to sell out.

PCYN..

I own 17088 and thats it.. Time to improve the bid.. hank

This is hard to read. I am assuming your posting so i-hub doesn't bump you from the mod position and its the buy of 5k shares from a month ago?
http://www.sec.gov/Archives/edgar/data/812306/000114036111033307/xslF345X03/doc1.xml

I saw the .1888's trade a week or two ago and don't see you on the bid/ask I guess that means support/resistance has been broken

I have a fair amount but not enough to push management to do something. Wish someone bigger then me would have them sell out already or at the least give us a nice annual dividend!

FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response 0.5



Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*ANDERSON REGINA WOLFE

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(Last) (First) (Middle)
2350 NE COACHMAN ROAD


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(Street)CLEARWATER FL 33765

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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PROCYON CORP [PCYN] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)X Director 10% Owner
Officer (give title below) Other (specify below)


3. Date of Earliest Transaction (Month/Day/Year)
06/15/2011
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)X Form filed by One Reporting Person
Form filed by More than One Reporting Person



Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 06/15/2011 P 5,000 A $ 0.19 77,500 D


Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date
(Month/Day/Year) 7. Title and Amount of Underlying Securities
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
/s/ Regina W. Anderson 06/16/2011
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Now that's funny but true...

plus I thought resistance and support would be around Hanks Bid/Ask

I didn't know TA applied to stocks that trade once a month ... plus I thought resistance and support would be around Hanks Bid/Ask .

On a serious note since the company is a family business I doubt they get sold (unfortunately). The company never executed on their buyback (would have to buy from negotiated sellers since doesn't trade enough) so IMO one of the best things they could do to increase shareholder value is a dividend of say the majority of their EPS. I wouldn't be opposed to a push to increase revenue's either but not sure how effective they could be at that.

PCYN has been showing support around 0.15 and resistance in the 0.1747 range. MACD shows that it is NEUTRAL in short-term; and NEUTRAL in mid-long term.

Check here:
'http://www.allotcbb.com/quote.php?symbol=pcyn'

Might not mean anything and no big amount of shares but none-the-less good to see Regina pick up 5k.

http://ih.advfn.com/p.php?pid=nmona&article=48110417

PCYN.. $0.19

The $0.1628 bid is mine and has been there for quite a period of time.. I'm long about 54K and it has taken almost a year to buy.. Nice little company with a pretty decent pipeline.. I look for a take out long before a 5 bagger.. hank

We meet again. I bought some PCYN today. I paid .19. I hope I didn't overpay. The said in their last annc that they were raising prices. I hope that results in some rev growth and increased profits. With a float of 2 mil this baby could hum if interest arrives. Trading below book.

PCYN.. $0.12 earnings...Cheap..

Bigger customer base boosts 2Q at medical supply firm Procyon
Tampa Bay Business Journal

Date: Friday, February 11, 2011, 10:41am EST
Related: Health Care

Procyon Corp. reported net income of $78,905, or 1 cent a share, for the three months ended Dec. 31, compared with a net loss of $4,977, or 0 cents a share, for the same period a year earlier.

Net sales for the just-ended quarter, the second quarter of the company’s fiscal year, were $744,234, compared with $548,644 in the year-ago period, a filing with the Securities and Exchange Commission said.

Sales and profit increased largely because of the expansion of the customer base, increases in market share and an increased number of customers purchasing early to avoid an announced price increase the company implemented effective Jan. 1, the filing said.

Procyon (OTCBB: PCYN) is a medical supply firm headquartered in Clearwater.

Read more: Bigger customer base boosts 2Q at medical supply firm Procyon | Tampa Bay Business Journal

PROCYON CORPORATION & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31, 2010 and June 30, 2010

(unaudited) (audited)
ASSETS December 31, June 30,
2010 2010
CURRENT ASSETS
Cash $ 815,031 $ 827,512
Certificates of Deposit, plus accrued interest 104,584 54,028
Accounts Receivable, less allowance for doubtful 254,297 184,130
accounts of $1,000.
Inventories 233,781 188,287
Prepaid Expenses 113,367 116,815
Deferred Tax Asset 104,986 121,391
TOTAL CURRENT ASSETS 1,626,046 1,492,163

PROPERTY AND EQUIPMENT, NET 549,241 513,925

OTHER ASSETS
Deposits 792 1,854
Deferred Tax Asset 781,277 861,945
782,069 863,799

TOTAL ASSETS $ 2,957,356 $ 2,869,887


LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts Payable $ 140,684 $ 184,942
Accrued Expenses 122,436 128,006
Current Portion of Mortgage Payable 27,210 26,335
TOTAL CURRENT LIABILITIES 290,330 339,283

LONG TERM LIABILITIES
Mortgage Payable 383,816 397,367
TOTAL LONG TERM LIABILITIES 383,816 397,367

STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 shares - -
authorized, none issued.
Series A Cumulative Convertible Preferred Stock, 154,950 154,950
no par value; 4,000,000 shares authorized;
199,100 shares issued and outstanding.
Common Stock, no par value, 80,000,000 shares 4,416,676 4,416,676
authorized; 8,055,388 shares issued and
outstanding.
Paid-in Capital 6,000 6,000
Accumulated Deficit (2,294,416 ) (2,444,389 )
TOTAL STOCKHOLDERS' EQUITY $ 2,283,210 2,133,237

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,957,356 $ 2,869,887



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




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CONSOLIDATED STATEMENTS OF OPERATIONS
Three & Six Months Ended December 31, 2010 and 2009
(unaudited) (unaudited) (unaudited) (unaudited)
Three Months Three Months Six Months Six Months
Ended Ended Ended Ended
Dec. 31, 2010 Dec. 31, 2009 Dec. 31, 2010 Dec. 31, 2009

NET SALES $ 744,234 $ 548,644 $ 1,398,479 $ 1,220,460

COST OF SALES 158,324 109,073 296,970 248,091

GROSS PROFIT 585,910 439,571 1,101,509 972,369

OPERATING EXPENSES
Salaries and Benefits 248,551 244,365 464,425 492,599
Selling, General and Administrative 203,681 205,411 376,904 411,311
452,232 449,776 841,329 903,910

INCOME (LOSS) FROM OPERATIONS 133,678 (10,205 ) 260,180 68,459

OTHER INCOME (EXPENSE)
Interest Expense (7,261 ) (8,150 ) (14,994 ) (16,400 )
Interest Income 907 1,500 1,860 3,689
(6,354 ) (6,650 ) (13,134 ) (12,711 )

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 127,324 (16,855 ) 247,046 55,748

INCOME TAX EXPENSE (48,419 ) 2,565 (97,073 ) (26,725 )

NET INCOME (LOSS) FROM CONTINUING OPERATIONS 78,905 (14,290 ) 149,973 29,023

DISCONTINUED OPERATIONS
Income (Loss) from Operations of Discontinued Component - (17,211 ) - 39,365
Provision for Income Tax Expense - 6,477 - (14,813 )
NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS - (10,734 ) - 24,552

NET INCOME (LOSS) 78,905 (25,024 ) 149,973 53,575

Dividend requirements on preferred stock (4,977 ) (4,977 ) (9,955 ) (9,955 )

Basic net income (loss) available to common shares $ 73,928 $ (30,001 ) $ 140,018 $ 43,620

Basic net income per common share
Continuing Operations $ 0.01 $ - $ 0.02 $ -
Discontinued Operations $ - $ - $ - $ -
Total Basic Net Income Per Share $ 0.01 $ - $ 0.02 $ -

Weighted average number of common shares outstanding 8,055,388 8,055,388 8,055,388 8,055,388

Diluted net income per common share
Continuing Operations $ 0.01 $ - $ 0.02 $ -
Discontinued Operations $ - $ - $ - $ -
Total Diluted Net Income Per Share $ 0.01 $ - $ 0.02 $ -

Weighted average number of common shares outstanding, diluted 8,254,488 8,055,388 8,254,488 8,254,488

Congrats on that one very nice gain. I wasn't at all familiar with the company.

I agree! The sales improvment is very encouraging. Between this and APNC I 'm am very pleased today

At first glance Q looks pretty strong.

If they keep getting no movement/recognition since they are selling around cash and profitable I would like to see them at least start returning some cash to shareholders not all but say .01 - .02 a year which would be a nice reward for shareholders and probably start to get us a whole lot more following too!

Yes it was me.. Ive been able to buy little but I'll try for more.. hank

I saw a .1328 bid the other day and wondered if that might be you .

My cost basis is a lot higher and I've held on for a few years now but the company is very cheap with a ton of cash. Been waiting for some catalyst to get the company (and the stock) going. I'll take a few solid quarters like the last one in the mean time. I was thinking to build up a bit more of a stake and become a bit more active try to get management to do something more to increase value (other then the word only buyback a year or two ago). Baring a sale or expansion, probably the easiest and safest thing is a small dividend.

I've been try to add at the bid every now and then for a good year or so with small fills here and there. Good luck to anyone wanting to get a descent number of shares (at the bid anyway)!

PCYN $0.15 Investor relations..

http://www.procyoncorp.com/investor-relations.html

Corporate Governance -
Procyon Corporation is governed by a Board of Directors that determines the direction of the company’s growth and development and provides management oversight.
Recent SEC Filings -
click here www.sec.gov for the following reports:

2010 FORM 10-K Annual Report (filed September 28, 2010)
2010 FORM 10Q-Q3 Quarterly Report (filed May 13, 2010)
2010 FORM 10Q-Q2 Quarterly Report (filed February 16, 2009)
2010 FORM 10Q-Q1 Quarterly Report (filed November 6, 2009)
2009 FORM 10-K Annual Report (filed September 28, 2009)
2009 FORM 10Q-Q1 Quarterly Report (filed May 15, 2009)
2009 FORM10Q-Q4 Quarterly Report (filed Feb. 12, 2009)
2009 FORM10Q-Q3 Quarterly Report (filed Nov 14, 2008)
Proxy Materials -
Proxy Statement 2010


Annual Meeting -
The Annual Meeting of Procyon Corporation Shareholders will convene Tuesday, November 9, 2010, at 4 p.m. EST at the corporate offices located at 1300 S Highland Avenue, Clearwater, FL 33756. Meeting notice and shareholder’s proxies were mailed to shareholders on or about October 9, 2010.

PCYN.. $0.15 10Q

PROCYON CORPORATION & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
September 30, 2010 and June 30, 2010

(unaudited) (audited)
ASSETS September 30, June 30,
2010 2010
CURRENT ASSETS
Cash $ 817,826 $ 827,512
Certificates of Deposit, plus accrued interest 104,338 54,028
Accounts Receivable, less allowance for doubtful accounts of $1,000. 177,946 184,130
Inventories 205,006 188,287
Prepaid Expenses 104,070 116,815
Deferred Tax Asset 103,624 121,391
TOTAL CURRENT ASSETS 1,512,810 1,492,163

PROPERTY AND EQUIPMENT, NET 525,077 513,925

OTHER ASSETS
Deposits 792 1,854
Deferred Tax Asset 831,058 861,945
831,850 863,799

TOTAL ASSETS $ 2,869,737 $ 2,869,887

LIABILITIES AND STOCKHOLDERS' EQUITY


CURRENT LIABILITIES
Accounts Payable $ 141,145 $ 184,942
Accrued Expenses 106,717 128,006
Current Portion of Mortgage Payable 27,210 26,335
TOTAL CURRENT LIABILITIES 275,072 339,283

LONG TERM LIABILITIES
Mortgage Payable 390,360 397,367
TOTAL LONG TERM LIABILITIES 390,360 397,367

STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 shares - -
authorized, none issued.
Series A Cumulative Convertible Preferred Stock, 154,950 154,950
no par value; 4,000,000 shares authorized;
199,100 shares issued and outstanding.
Common Stock, no par value, 80,000,000 shares 4,416,676 4,416,676
authorized; 8,055,388 shares issued and outstanding.

Paid-in Capital 6,000 6,000
Accumulated Deficit (2,373,321 ) (2,444,389 )
TOTAL STOCKHOLDERS' EQUITY $ 2,204,305 2,133,237

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,869,737 $ 2,869,887


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




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PROCYON CORPORATION & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended September 30, 2010 and 2009
(unaudited) (unaudited)
Three Months Three Months
Ended Ended
Sep. 30, 2010 Sep. 30, 2009

NET SALES $ 654,245 $ 671,816

COST OF SALES 138,646 139,018

GROSS PROFIT 515,599 532,798

OPERATING EXPENSES
Salaries and Benefits 215,875 248,233
Selling, General and Administrative 173,222 205,900
389,097 454,133

INCOME FROM OPERATIONS 126,502 78,665

OTHER INCOME (EXPENSE)
Interest Expense (7,734 ) (8,250 )
Interest Income 954 2,189
(6,780 ) (6,061 )

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 119,722 72,604

INCOME TAX EXPENSE (48,654 ) (29,291 )

NET INCOME FROM CONTINUING OPERATIONS 71,068 43,313

DISCONTINUED OPERATIONS
Income from Operations of Discontinued Component - 56,576
Provision for Income Tax Expense - (21,289 )
NET INCOME FROM DISCONTINUED OPERATIONS - 35,287

NET INCOME 71,068 78,600

Dividend requirements on preferred stock (4,978 ) (4,978 )

Basic net income available to common shares $ 66,090 $ 73,622

Basic net income per common share
Continuing Operations $ 0.01 $ 0.01
Discontinued Operations $ - $ 0.00
Total Basic Net Income Per Share $ 0.01 $ 0.01

Weighted average number of common shares outstanding 8,055,388 8,055,388

Diluted net income per common share
Continuing Operations $ 0.01 $ 0.01
Discontinued Operations $ - $ 0.00
Total Diluted Net Income Per Share $ 0.01 $ 0.01

Weighted average number of common shares outstanding, diluted 8,254,488 8,254,488

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




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PROCYON CORPORATION & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Three Months Ending September 30, 2010 and 2009

(unaudited) (unaudited)
September 30, September 30,
2010 2009

CASH FLOWS FROM OPERATING ACTIVITIES

Net Income $ 71,068 $ 78,600
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation 7,293 7,108
Deferred Income Taxes 48,654 50,580
Allowance for Doubtful Accounts - 500
Accrued Interest on Certificates of Deposit (310 ) 4,031
Decrease (increase) in:
Accounts Receivable 6,184 3,468
Inventory (16,719 ) (8,721 )
Prepaid Expenses 12,745 (34,038 )
Other Assets 1,062 -
Increase (decrease) in:
Accounts Payable (43,797 ) 13,592
Accrued Expenses (21,289 ) 1,128
NET CASH PROVIDED BY OPERATING ACTIVITIES 64,891 116,248

CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Certificate of Deposit (50,000 ) 191,645
Purchase of property & equipment (18,445 ) (1,846 )
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (68,445 ) 189,799

CASH FLOW FROM FINANCING ACTIVITIES

Payments on Mortgage Payable (6,132 ) (5,748 )
NET CASH USED BY FINANCING ACTIVITIES (6,132 ) (5,748 )

NET CHANGE IN CASH (9,686 ) 300,299

CASH AT BEGINNING OF PERIOD 827,512 403,030

CASH AT END OF PERIOD $ 817,826 $ 703,329

SUPPLEMENTAL DISCLOSURES

Interest Paid $ 7,783 $ 8,261
Taxes Paid $ - $ -

Non Cash Transaction Disclosure

Marketing Expense paid for by Accounts Receivable $ - $ 9,900

Procyon Corp.
1300 South Highland Avenue
Clearwater, FL 33756
United States - Map
Phone: 727-447-2998
Website: http://www.procyoncorp.com

Details
Index Membership: N/A
Sector: Healthcare
Industry: Drug Related Products
Full Time Employees: 10


Business Summary

Procyon Corporation, through its subsidiary, Amerx Health Care Corp., develops and markets medical products used in the treatment of pressure ulcers, dermatitis, inflammation, and other skin problems in the United States. The company?s products include the AmeriGel Hydrogel Wound Dressing and Amerigel Hydrogel Saturated Gauze Dressing, which are used as a wound dressing to manage stages I-IV pressure ulcers, stasis ulcers, diabetic skin ulcers, post surgical incisions, cuts, abrasions, first and second degree burns, and skin irritations; and AmeriGel Premium Care Lotion, a therapeutic skin conditioner containing emollients that restore moisture to fragile skin and alleviate problematic skin conditions. Its products also comprise the AmeriGel Barrier Lotion provides barrier protection to shield the skin from excess moisture and reduce harmful effects to the skin from friction and chafing; AmeriGel Saline Wound Wash, a non-sterile saline solution containing Oakin and used for wound cleansing; and the Amerigel Post Op Surgical Kit. Procyon Corporation sells its products through distributors to healthcare institutions, such as physicians, nursing homes, and home healthcare agencies; and to retailers, including national and regional chain stores, and pharmacies. The company was incorporated in 1987 and is based in Clearwater, Florida.

Some volume finally!

The numbers weren't bad ~.005 roughly but its got a descent BV too so should be higher. Too bad mgm was just throwing lip service with their buyback (not that they could have bought much on the open market anyway).

The K is out, nothing to get excited about though. Looks like a slight loss (not counting the accounting for the tax benefit) on sales of about 600k.