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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 S69Tpfy95azfCzLTrUoV2aLDprZb1drqda9hdsFvLz3sec2kh4UTdZ1RCiTWZF4B
 CQzwwGIOZz02edrpBXhxKA==

<SEC-DOCUMENT>0001050502-07-000139.txt : 20070417
<SEC-HEADER>0001050502-07-000139.hdr.sgml : 20070417
<ACCEPTANCE-DATETIME>20070417173029
ACCESSION NUMBER:		0001050502-07-000139
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070412
FILED AS OF DATE:		20070417
DATE AS OF CHANGE:		20070417

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ANDERSON REGINA WOLFE
		CENTRAL INDEX KEY:			0001366467

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17449
		FILM NUMBER:		07771816

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(727)447-2998

	MAIL ADDRESS:	
		STREET 1:		1300 S HIGHLAND AVE
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33756

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROCYON CORP
		CENTRAL INDEX KEY:			0000812306
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				368732690
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		1300 S HIGHLAND AVE
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33756
		BUSINESS PHONE:		(727)447-2998

	MAIL ADDRESS:	
		STREET 1:		1300 S HIGHLAND AVE
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33756
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4rwa_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-04-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000812306</issuerCik>
        <issuerName>PROCYON CORP</issuerName>
        <issuerTradingSymbol>PCYN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001366467</rptOwnerCik>
            <rptOwnerName>ANDERSON REGINA WOLFE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>440 S. GULFVIEW BLVD., #1702N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CLEARWATER</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33767</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President/CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Procyon Corporation</value>
            </securityTitle>
            <transactionDate>
                <value>2007-04-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3350500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.30</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>As Administrator of Estate</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Procyon Corporation</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>72500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Procyon Corporation</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.2125</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-04-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.2125</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>1999-12-31</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>As Administrator of Estate</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Procyon Corporation</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.1594</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-04-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.1594</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2000-11-18</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-11-18</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>As Administrator of Estate</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The 3,350,500 shares of common stock and 60,000 options to purchase common stock were held beneficially by the Reporting
 Person as the Administrator of the Estate of John C. Anderson and such shares and options were transferred to the John C.
 Anderson Trust pursuant to the terms of the Trust.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Regina W. Anderson</signatureName>
        <signatureDate>2007-04-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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