Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  FOLEY MICHAEL TIMOTHY
2. Date of Event Requiring Statement (Month/Day/Year)
12/31/2006
3. Issuer Name and Ticker or Trading Symbol
PROCYON CORP [PCYN]
(Last)
(First)
(Middle)
2284 KINGS POINT DRIVE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

LARGO, FL 33774
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 5,000
D (1)
 
Common Shares 5,000
D (2)
 
Common Shares 945
I
Owned of record by Spouse as trustee of her IRA Account. (3)
Common Shares 12,000
I
Owned of record by Spouse (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
FOLEY MICHAEL TIMOTHY
2284 KINGS POINT DRIVE
LARGO, FL 33774
  X      

Signatures

/s/ Michael T. Foley 06/11/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These transactions were effected through Mr. Foley's IRA account.
(2) These transactions were effected through a brokerage account held of record by Mr. Foley and his wife as tenants by the entireties.
(3) These transactions were effected through Mr. Foley's wife's IRA account. The entire amount of the issuer's securities held by Mr. Foley's wife in her IRA account is reported herein. Mr. Foley disclaims, for purposes of Section 16, beneficial ownership of such securities, except to the extent of his indirect pecuniary interest therein. This report shall not be deemed an admission that Mr. Foley is the beneificial owner of such securities for purposes of Section 16 or for any other purposes.
(4) These transactions were effected through a brokerage account in the name of Mr. Foley's wife. The entire amount of the Issuer's securities held by Mr. Foley's wife in her individual account is reported herein. Mr. Foley disclaims, for purposes of Section 16, beneficial ownership of such securities, except to the extent of his indirect pecuniary interest therein. This report shall not be deemed an admission that Mr. Foley is the beneificial owner of such securities for purposes of Section 16 or for any other purposes.

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