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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
OMB APPROVAL
FORM 12b-25 OMB NUMBER: 3235-0058
Expires: May 31, 1997
NOTIFICATION OF LATE FILING Estimated average burden
hours per response..2.50
SEC FILE NUMBER
000-17449
CUSIP NUMBER
742806 30 0
(Check One): / / Form 10-K and /X/ Form 10-KSB / / Form 20-F / /Form 11-K
/ / Form 10-Q and / / Form 10-QSB / / Form N-SAR
For Period Ended: June 30, 1997
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( ) Transition Report on 10-K
( ) Transition Report on Form 20-F
( ) Transition Report on Form 11-K
( ) Transition Report on Form 10-Q
( ) Transition Report on Form N-SAR
For the Transition Period Ended:
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NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED ANY INFORMATION CONTAINED HEREIN.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
PROCYON CORPORATION
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Full Name of Registrant
NOT APPLICABLE
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Former Name if Applicable
1150 CLEVELAND STREET, SUITE 410
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Address of Principal Executive Office (Street and Number)
CLEARWATER, FLORIDA 34615
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City, State and Zip Code
PART II -- RULES 12B-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
(b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 10-KSB, Form 20-F, 11-K or Form N SAR, or
portion thereof, will be filed on or before the fifteenth calendar
/x/ day following the prescribed due date; or the subject quarterly
report of transition report on Form 10-Q or Form 10-QSB, or
portion thereof will be filed on or before the fifth calendar day
following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III -- NARRATIVE
State below in reasonable detail the reasons why Forms 10-K and 10-KSB, 20-F,
11-K, 10-Q and 10-QSB, N-SAR, or the transition report or portion thereof could
not be filed within the prescribed time period.
FINAL REVIEW AND APPROVAL OF THE FORM 10-KSB BY THE COMPANY'S OUTSIDE DIRECTORS
AND ACCOUNTING FIRM COULD NOT BE COMPLETED UNTIL OCTOBER 1, 1997.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
JOHN C. ANDERSON (813) 447-2998
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the Registrant was required to file such report(s) been
filed? If answer is no, identify reports(s). /X/ Yes / / No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or
portion thereof? If so, attach an explanation of the anticipated
change, both narratively and quantitatively, and, if appropriate,
state the reasons why a reasonable estimate of the results cannot be
made. /X/ Yes / / No
Net sales, gross profit and net loss (after dividend requirements for
Preferred Stock) during fiscal 1997 were approximately $216,000,
$119,000 and $701,000, respectively. This compares to net sales, gross
profit and net loss (after dividend requirements for Preferred Stock)
during fiscal 1996 of $309,000, $213 and $523,000, respectively.
PROCYON CORPORATION
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
PROCYON CORPORATION
Date: September 30, 1997 By: /s/ John C. Anderson
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John C. Anderson, President
INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representa-tive. The name and title of the
person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
VIOLATIONS (SEE 18 U.S.C. 1001).
