Filing pursuant to Rule 424(b)(3)
                                           Registration Statement No. 333-102939

                  PROSPECTUS SUPPLEMENT NO 2. DATED May 2, 2003

                       (TO PROSPECTUS DATED April 4, 2003)

                                2,000,000 SHARES

                               FONAR CORPORATION

                                  COMMON STOCK

This prospectus supplement relates to the plan of distribution pursuant to which
we will  issue  up to  2,000,000  shares  of our  common  stock.  See  "Plan  of
Distribution"  below  for a  more  detailed  description  of  this  plan.  These
2,000,000  shares  are  part  of the  5,000,000  registered  under  Registration
Statement No. 333-102939 and covered by the accompanying prospectus.

You  should  read  this  prospectus   supplement  along  with  the  accompanying
prospectus.  These documents contain information you should consider when making
your  investment  decision.  You should rely only on  information  contained  or
incorporated  by reference in this  prospectus  supplement and the  accompanying
prospectus.  We have not authorized anyone else to provide you with different or
additional  information.  You  should not assume  that the  information  in this
prospectus  supplement  is  accurate  as of any date  other than the date on the
front of this document.

The prospectus  supplement and the accompanying  prospectus do not constitute an
offer to sell or a solicitation of an offer to buy any securities other than the
common stock offered  hereby.  This prospectus  supplement and the  accompanying
prospectus do not constitute an offer to sell or a  solicitation  of an offer to
buy our common stock in any  circumstances  in which an offer or solicitation is
unlawful.

INVESTING IN OUR COMMON STOCK INVOLVES A HIGH DEGREE OF RISK. SEE "RISK FACTORS"
BEGINNING ON PAGE 4 OF THE PROSPECTUS.

NEITHER  THE  SECURITIES  AND  EXCHANGE  COMMISSION  NOR  ANY  STATE  SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS
PROSPECTUS  IS TRUTHFUL OR  COMPLETE.  ANY  REPRESENTATION  TO THE CONTRARY IS A
CRIMINAL OFFENSE.

                              PLAN OF DISTRIBUTION

We  may  issue  up to  2,000,000  shares  of our  common  stock  covered  by the
accompanying prospectus by issuing them directly to vendors,  suppliers of goods
and  services  or other  creditors  in lieu of cash.  This is in addition to the
1,000,000   shares  of  our  common  stock  also  covered  by  the  accompanying
prospectus,  which  were  issued  under the plan of  distribution  described  in
prospectus  supplement  number one. The recipients of the shares would receive a
number of shares  having a market  value of the amount to be paid as of the date
of issuance of the shares.  The  recipients  would  credit our account with them
with the net proceeds they receive from the sale of the shares. Net proceeds for
these  purposes  means the sales price received for the shares less the sellers'
brokerage  commissions  and  other  costs of sale,  if any.  To the  extent  the
recipient is  underpaid,  we may issue  additional  shares or pay the balance in
cash. To the extent the  recipient is overpaid,  we will receive a credit to our
account with the recipient.

The  principal  purposes of issuing these shares is to pay vendors and suppliers
for the parts and  services  necessary  for us to make  timely  delivery  of MRI
scanning systems,  to accelerate our production rate in order to reduce per unit
manufacturing costs and for advertising and marketing expenses.  Management will
have broad discretion in the use of the shares.

                           MARKET FOR OUR COMMON STOCK

Our  common  stock is listed on the  NASDAQ  Small Cap  Market  under the symbol
"FONR".  On May 1, 2003 our closing price of one share of common stock was $0.96
As of May 1, 2003, we had 80,077,973 shares of common stock outstanding.

                       WHERE YOU CAN FIND MORE INFORMATION

The SEC allows us to  "incorporate by reference"  information  that we file with
them, which means that we can disclose important information to you by referring
you  to  those  documents.  The  information  incorporated  by  reference  is an
important part of this prospectus supplement and the accompanying prospectus.

The  documents we  incorporate  by reference  and where you can find  additional
filings  and  information  concerning  Fonar  are set  forth  in the  prospectus
beginning on page 14.