2023 Q3 Form 10-K Financial Statement

#000143774923027045 Filed on September 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $1.173M $1.202M $4.687M
YoY Change -0.22% -0.59% -3.22%
Cost Of Revenue $260.7K $265.2K $1.117M
YoY Change -11.6% -20.18% -17.66%
Gross Profit $912.4K $937.0K $3.570M
YoY Change 3.59% 6.83% 2.4%
Gross Profit Margin 77.78% 77.94% 76.16%
Selling, General & Admin $491.8K $940.2K $1.807M
YoY Change 15.96% -4.43% 5.63%
% of Gross Profit 53.9% 100.34% 50.62%
Research & Development $30.60K
YoY Change 2.0%
% of Gross Profit 0.86%
Depreciation & Amortization $19.15K $19.34K $52.82K
YoY Change 75.52% 85.96% 38.2%
% of Gross Profit 2.1% 2.06% 1.48%
Operating Expenses $491.8K $940.2K $1.838M
YoY Change 15.96% -4.42% 5.57%
Operating Profit -$57.39K -$3.150K -$97.38K
YoY Change 401.1% -97.05% -58.95%
Interest Expense $5.208K $4.870K $11.82K
YoY Change 481.9% 1375.76%
% of Operating Profit
Other Income/Expense, Net $14.17K $8.820K $32.01K
YoY Change 1482.79% 1674.22%
Pretax Income -$43.23K $10.53K -$65.37K
YoY Change 309.41% -109.91% -72.23%
Income Tax -$9.370K $3.040K -$15.13K
% Of Pretax Income 28.87%
Net Earnings -$33.86K $7.491K -$50.25K
YoY Change 313.52% -109.44% -76.05%
Net Earnings / Revenue -2.89% 0.62% -1.07%
Basic Earnings Per Share -$0.01 -$0.01
Diluted Earnings Per Share -$0.01 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 8.087M 8.087M 8.087M
Diluted Shares Outstanding 8.108M 8.087M

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $969.1K $1.014M $1.014M
YoY Change 11.93% -2.66% -2.66%
Cash & Equivalents $402.5K $451.3K
Short-Term Investments $566.6K $562.5K $562.5K
Other Short-Term Assets $215.7K $298.5K $298.5K
YoY Change -13.39% -20.37% -20.37%
Inventory $544.3K $431.4K $431.4K
Prepaid Expenses
Receivables $434.3K $494.0K $494.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.163M $2.238M $2.238M
YoY Change -10.53% -13.44% -13.44%
LONG-TERM ASSETS
Property, Plant & Equipment $315.3K $281.0K $808.2K
YoY Change 110.47% 82.84% -6.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $462.3K $500.9K $500.9K
YoY Change 35.79% 47.07% 47.07%
Total Long-Term Assets $1.275M $1.326M $1.326M
YoY Change 9.11% 8.93% 8.92%
TOTAL ASSETS
Total Short-Term Assets $2.163M $2.238M $2.238M
Total Long-Term Assets $1.275M $1.326M $1.326M
Total Assets $3.438M $3.564M $3.564M
YoY Change -4.13% -6.28% -6.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $172.2K $175.1K $175.1K
YoY Change 49.82% -1.7% -1.7%
Accrued Expenses $396.2K $451.1K $451.1K
YoY Change 9.27% -3.03% -3.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $568.4K $626.1K $626.1K
YoY Change 19.02% -2.66% -2.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $275.4K $319.9K $319.9K
YoY Change -38.68% -34.89% -34.89%
Total Long-Term Liabilities $275.4K $319.9K $319.9K
YoY Change -38.68% -34.89% -34.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $568.4K $626.1K $626.1K
Total Long-Term Liabilities $275.4K $319.9K $319.9K
Total Liabilities $843.8K $946.0K $946.0K
YoY Change -8.94% -16.62% -16.62%
SHAREHOLDERS EQUITY
Retained Earnings -$2.023M -$1.989M
YoY Change 3.9% 2.59%
Common Stock $4.450M $4.445M
YoY Change 0.12% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.595M $2.618M $2.618M
YoY Change
Total Liabilities & Shareholders Equity $3.438M $3.564M $3.564M
YoY Change -4.13% -6.28% -6.28%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$33.86K $7.491K -$50.25K
YoY Change 313.52% -109.44% -76.05%
Depreciation, Depletion And Amortization $19.15K $19.34K $52.82K
YoY Change 75.52% 85.96% 38.2%
Cash From Operating Activities $4.585K $157.7K $145.5K
YoY Change -103.56% 1407.84% -163.4%
INVESTING ACTIVITIES
Capital Expenditures $53.41K $154.1K $180.1K
YoY Change 662.6% -781.34% 117.97%
Acquisitions
YoY Change
Other Investing Activities $2.860K -$274.4K
YoY Change
Cash From Investing Activities -$53.41K -$151.2K -$454.6K
YoY Change 662.6% 568.69% 450.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 121.0K $0.00
YoY Change -100.0% -423.16% -100.0%
NET CHANGE
Cash From Operating Activities $4.585K 157.7K $145.5K
Cash From Investing Activities -$53.41K -151.2K -$454.6K
Cash From Financing Activities $0.00 121.0K $0.00
Net Change In Cash -$48.82K 127.5K -$309.1K
YoY Change -72.25% -357.15% -33.69%
FREE CASH FLOW
Cash From Operating Activities $4.585K $157.7K $145.5K
Capital Expenditures $53.41K $154.1K $180.1K
Free Cash Flow -$48.82K $3.670K -$34.67K
YoY Change -64.08% -88.9% -88.89%

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CY2023 us-gaap Use Of Estimates
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Use of Estimates</b></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Concentration of Credit Risk</b></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The Company maintains its cash at various financial institutions. All accounts are fully insured by the Federal Deposit Insurance Corporation, up to $250,000 per Company. At June 30, 2023 and 2022, our uninsured cash balance was $0 and $52,539 respectively.</p>
CY2023Q2 us-gaap Cash Uninsured Amount
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CY2022Q2 us-gaap Cash Uninsured Amount
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CY2023 pcyn Term Of Sale For Pharmaceutical Distributors And Drug Stores
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CY2023Q2 us-gaap Inventory Finished Goods
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CY2022Q2 us-gaap Inventory Finished Goods
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CY2023Q2 us-gaap Inventory Raw Materials
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CY2022Q2 us-gaap Inventory Raw Materials
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CY2023Q2 us-gaap Inventory Gross
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CY2022Q2 us-gaap Inventory Gross
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CY2023Q2 us-gaap Inventory Noncurrent
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CY2023 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
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CY2023Q2 us-gaap Property Plant And Equipment Gross
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CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q2 us-gaap Property Plant And Equipment Net
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281023 usd
CY2023 us-gaap Depreciation
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CY2022Q2 us-gaap Property Plant And Equipment Gross
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CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022 us-gaap Depreciation
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CY2023Q2 us-gaap Accrued Salaries Current
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CY2022Q2 us-gaap Accrued Salaries Current
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151341 usd
CY2023Q2 us-gaap Accrued Vacation Current
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33820 usd
CY2021Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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250000 usd
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
0 usd
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
184805 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
188353 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
141062 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10721 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2023 us-gaap Net Income Loss
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-50245 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-209790 usd
CY2023 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
16710 usd
CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
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16710 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-66955 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-226500 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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-226500 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8087388
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
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CY2023 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8087388
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2023Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
716000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
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0 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
31960 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-31960 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-15129 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-25621 usd
CY2023 us-gaap Current Income Tax Expense Benefit
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0 usd
CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
12535 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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21229 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Deferred Federal State And Local Tax Expense Benefit
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15129 usd
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
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25621 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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181439 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
6387 usd
CY2023Q2 pcyn Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
125064 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
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8572 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
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6181 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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2946 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
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330589 usd
CY2023Q2 us-gaap Deferred Tax Liabilities Leasing Arrangements
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133611 usd
CY2023Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2023Q2 us-gaap Deferred Income Tax Liabilities
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169409 usd
CY2023Q2 pcyn Deferred Tax Assets Liabilities Gross
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161180 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q2 us-gaap Deferred Tax Assets Liabilities Net
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161180 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
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31960 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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31960 usd
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2535 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2535 pure
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
13767 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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49436 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
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CY2023 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2022 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2023 pcyn Effective Income Tax Rate Reconciliation Loss Carryforward Amount
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32200 usd
CY2022 pcyn Effective Income Tax Rate Reconciliation Loss Carryforward Amount
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1395 usd
CY2023 us-gaap Research And Development Expense
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30600 usd
CY2022 us-gaap Research And Development Expense
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30000 usd
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
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0.0425 pure
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q2 us-gaap Operating Lease Right Of Use Asset
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527170 usd
CY2015Q2 us-gaap Operating Lease Liability
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us-gaap Operating Lease Payments
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CY2023Q2 us-gaap Operating Lease Liability
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CY2023Q2 us-gaap Operating Lease Liability Current
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173565 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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319882 usd
CY2023 us-gaap Variable Lease Cost
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202270 usd
CY2022 us-gaap Variable Lease Cost
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208467 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2023 us-gaap Sublease Income
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19908 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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14220 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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0 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
14220 usd

Files In Submission

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pcyn-20230630_cal.xml Edgar Link unprocessable
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