$PCYN
PROCYON CORP

2021 Q4 Form 10-Q Financial Statement

#000143774922003265 Filed on February 14, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $1.331M $1.174M
YoY Change 13.3% 4.14%
Cost Of Revenue $411.9K $328.6K
YoY Change 25.37% 1.06%
Gross Profit $918.7K $845.8K
YoY Change 8.62% 5.39%
Gross Profit Margin 69.04% 72.02%
Selling, General & Admin $475.4K $326.5K
YoY Change 45.6% -14.55%
% of Gross Profit 51.74% 38.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.390K $11.32K
YoY Change -17.05% -18.56%
% of Gross Profit 1.02% 1.34%
Operating Expenses $475.4K $326.5K
YoY Change 45.6% -14.55%
Operating Profit -$53.91K $104.9K
YoY Change -151.4% 3453.88%
Interest Expense $697.00 -$1.017K
YoY Change -168.53% -185.75%
% of Operating Profit -0.97%
Other Income/Expense, Net $697.00 -$1.017K
YoY Change -168.53% -185.75%
Pretax Income -$53.21K $103.9K
YoY Change -151.24% 2410.47%
Income Tax $14.35K $29.55K
% Of Pretax Income 28.45%
Net Earnings -$67.56K $74.31K
YoY Change -190.92% -36527.94%
Net Earnings / Revenue -5.08% 6.33%
Basic Earnings Per Share -$0.01 $0.01
Diluted Earnings Per Share -$0.01 $0.01
COMMON SHARES
Basic Shares Outstanding 8.087M 8.087M
Diluted Shares Outstanding 8.087M 8.319M

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.087M $802.4K
YoY Change 35.52% 218.8%
Cash & Equivalents $806.6K $647.0K
Short-Term Investments $280.8K $155.4K
Other Short-Term Assets $247.6K $201.9K
YoY Change 22.66% -27.59%
Inventory $853.7K $623.6K
Prepaid Expenses
Receivables $418.6K $459.7K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.607M $2.088M
YoY Change 24.9% 19.1%
LONG-TERM ASSETS
Property, Plant & Equipment $143.9K $440.2K
YoY Change -67.31% -6.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $292.0K $416.2K
YoY Change -29.84% -0.34%
Total Long-Term Assets $1.248M $917.0K
YoY Change 36.07% 3.09%
TOTAL ASSETS
Total Short-Term Assets $2.607M $2.088M
Total Long-Term Assets $1.248M $917.0K
Total Assets $3.855M $3.005M
YoY Change 28.31% 13.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.22K $113.8K
YoY Change -66.41% 0.82%
Accrued Expenses $390.6K $206.1K
YoY Change 89.57% -45.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $156.4K
YoY Change
Total Short-Term Liabilities $428.9K $476.3K
YoY Change -9.96% -3.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $44.57K
YoY Change -100.0%
Other Long-Term Liabilities $573.5K $26.61K
YoY Change 2055.32% 116.34%
Total Long-Term Liabilities $573.5K $71.18K
YoY Change 705.75% 478.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $428.9K $476.3K
Total Long-Term Liabilities $573.5K $71.18K
Total Liabilities $1.002M $547.5K
YoY Change 83.1% 8.05%
SHAREHOLDERS EQUITY
Retained Earnings -$1.755M -$2.130M
YoY Change -17.64% -13.11%
Common Stock $4.445M $4.445M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.853M $2.457M
YoY Change
Total Liabilities & Shareholders Equity $3.855M $3.005M
YoY Change 28.31% 13.71%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$67.56K $74.31K
YoY Change -190.92% -36527.94%
Depreciation, Depletion And Amortization $9.390K $11.32K
YoY Change -17.05% -18.56%
Cash From Operating Activities -$139.0K $21.91K
YoY Change -734.32% -112.76%
INVESTING ACTIVITIES
Capital Expenditures -$31.74K -$3.240K
YoY Change 879.63% -56.68%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$31.74K -$3.240K
YoY Change 879.63% -56.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.21K -45.37K
YoY Change -15.78% 256.12%
NET CHANGE
Cash From Operating Activities -139.0K 21.91K
Cash From Investing Activities -31.74K -3.240K
Cash From Financing Activities -38.21K -45.37K
Net Change In Cash -208.9K -26.70K
YoY Change 682.51% -86.09%
FREE CASH FLOW
Cash From Operating Activities -$139.0K $21.91K
Capital Expenditures -$31.74K -$3.240K
Free Cash Flow -$107.2K $25.15K
YoY Change -526.4% -115.31%

Facts In Submission

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CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
665834 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
646982 USD
us-gaap Interest Paid Net
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0 USD
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us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
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CY2021Q4 us-gaap Operating Loss Carryforwards
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588000 USD
us-gaap Current Federal Tax Expense Benefit
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us-gaap Current Federal Tax Expense Benefit
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27281 USD
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38122 USD
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27281 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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31960 USD
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0.2535 pure
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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149147 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2021Q4 pcyn Deferred Tax Assets Operating Lease Liabilities
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2021Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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201460 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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36224 USD
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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31960 USD
CY2021Q4 us-gaap Deferred Income Tax Assets Net
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CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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2739 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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67345 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
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567 USD
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13934 USD
us-gaap Income Tax Reconciliation Nondeductible Expense
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pcyn Effective Income Tax Rate Reconciliation Loss Carryforward Amount
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pcyn Effective Income Tax Rate Reconciliation Loss Carryforward Amount
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31960 USD
CY2021 us-gaap Interest Expense Debt
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us-gaap Interest Expense Debt
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CY2021Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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178209 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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us-gaap Operating Lease Payments
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CY2021Q4 us-gaap Operating Lease Liability
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731776 USD
CY2021Q4 us-gaap Operating Lease Liability Current
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158247 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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CY2021Q4 us-gaap Variable Lease Cost
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50020 USD
CY2020Q4 us-gaap Variable Lease Cost
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8386 USD
us-gaap Variable Lease Cost
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100041 USD
us-gaap Variable Lease Cost
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22516 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y2M26D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0329 pure

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