v3.24.3

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Cash	$ 326,143	$ 451,306
Certificates of Deposit, plus accrued interest	582,677	562,472
Accounts Receivable, less allowance for expected credit losses of $15,000 and $11,625 respectively	512,909	493,953
Inventories	510,006	431,405
Prepaid Expenses	434,150	298,469
TOTAL CURRENT ASSETS	2,365,885	2,237,605
PROPERTY AND EQUIPMENT, NET	262,020	281,023
Deposits	4,665	9,220
Inventories	216,701	330,513
Intangible Asset	17,000	17,000
ROU Assets - Operating Leases	338,141	527,170
Deferred Tax Asset, Net of Valuation Allowance	0	161,180
Assets, Noncurrent, Excluding Property, Plant and Equipment	576,507	1,045,083
TOTAL ASSETS	3,204,412	3,563,711
CURRENT LIABILITIES
Accounts Payable	160,922	175,057
Accrued Expenses	427,647	277,498
Short Term Lease Liabilities	180,665	173,565
TOTAL CURRENT LIABILITIES	769,234	626,120
Long Term Lease Liabilities	139,211	319,882
Deferred tax liability, net of valuation allowance of 209,003	8,677	0
TOTAL LONG TERM LIABILITIES	147,888	319,882
TOTAL LIABILITIES	917,122	946,002
Commitments and Contingencies	0	0
STOCKHOLDERS' EQUITY
Common Stock, no par value, 80,000,000 shares authorized; 8,120,388 and 8,087,388 shares issued and outstanding, respectively	4,462,166	4,444,766
Paid-in Capital	41,085	35,564
Accumulated Deficit	(2,330,621)	(1,989,481)
TOTAL STOCKHOLDERS' EQUITY	2,287,290	2,617,709
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,204,412	3,563,711
Nondesignated Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 shares authorized, none issued.	0	0
Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred Stock, 496,000,000 shares authorized, none issued.	$ 114,660	$ 126,860

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

No definition available.

PROCYON CORP 10-K