FORM 10-QSB/A
SECURITIES & EXCHANGE COMMISSION
WASHINGTON, DC 20549
Quarterly Report Under Section 13 or 15 (d) of
the Securities Exchange Act of 1934
For Quarter Ended September 30, 1996
Commission File Number: 01-17449
PROCYON CORPORATION
(Name of Small Business Issuer as specified in its charter)
Colorado
(State or Other Jurisdiction of Incorporation or Organization)
36-0732690
(IRS Employer Identification Number)
1150 Cleveland Street, Suite 410
Clearwater, Fl 34615
(Address of Principal Offices)
(813) 447-2998
(Registrant's Telephone Number, Including Area Code)
Indicate by check mark whether the registrant has (1) filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
than the registrant was required to file such reports), and (2) been
subject to such filing requirements for the past 90 days.
YES X NO
Common Stock No Par Value
(Class)
3,637,920 Shares of Common Stock Outstanding as of November 13, 1996
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PROCYON CORPORATION
(Registrant)
January 8, 1997 /s/ John C. Anderson
Date John C. Anderson, President
January 8, 1997
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-END> SEP-30-1996
<CASH> 197,519
<SECURITIES> 0
<RECEIVABLES> 21,767
<ALLOWANCES> 500
<INVENTORY> 101,269
<CURRENT-ASSETS> 322,090
<PP&E> 48,099
<DEPRECIATION> 13,897
<TOTAL-ASSETS> 384,328
<CURRENT-LIABILITIES> 50,276
<BONDS> 0
0
1,328,700
<COMMON> 724,196
<OTHER-SE> (1,718,844)
<TOTAL-LIABILITY-AND-EQUITY> 384,328
<SALES> 32,231
<TOTAL-REVENUES> 34,622
<CGS> 8,876
<TOTAL-COSTS> 193,937
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 2,539
<INCOME-PRETAX> (170,690)
<INCOME-TAX> 0
<INCOME-CONTINUING> (170,690)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (170,690)
<EPS-PRIMARY> (.06)
<EPS-DILUTED> (.06)
</TABLE>
