CLEARWATER, FL—Procyon Corporation (OTC:PCYN), a pharmaceutical company, announced today that it has experienced significant delays in filing its annual Form 10-K report due to the impact of major hurricanes. The company, headquartered in Clearwater, Florida, had previously filed for an extension on September 30, 2024, to submit its annual report for the fiscal year ended June 30, 2024, but has been unable to meet the extended deadline.
Hurricanes Helene and Milton have caused widespread power outages affecting both the company's personnel and professional advisors. While Procyon's operations have not been disrupted operationally, as power and carrier services are available to their location, their independent auditors have been impacted by the outages, hindering the completion of the necessary financial reporting.
The company has stated its intention to finalize and submit the Form 10-K as soon as possible. This announcement is based on a press release statement filed with the Securities and Exchange Commission (SEC). Procyon's stock is not listed on any major exchange, which may affect the visibility and trading of its shares.
The delay in filing the 10-K report highlights the broader challenges that companies can face in the wake of natural disasters, which can extend beyond physical damage to include disruptions in critical business processes.
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