NOTE 20 - BUSINESS COMBINATIONS

12 Months Ended

Jun. 30, 2017

Business Combinations [Abstract]

NOTE 20 - BUSINESS COMBINATIONS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2017, 2016 and 2015

NOTE 20 – BUSINESS COMBINATIONS

Acquisitions

On June 15, 2017, the Company purchased 100% interest in Turnkey Equipment Management of Great Neck, LLC. The consideration and net assets acquired is as follows:

Cash Paid	$	1,312,769
Security deposit		23,775
Total Consideration		1,336,544
Net assets at Fair Value		731,582
Goodwill	$	604,962

On March 20, 2017, the Company purchased 100% interest in Radwell Leasing LLC and Radwell LLC. The net assets acquired and consideration is as follows:

Diagnostic Equipment	$	544,375
Leasehold Improvements		126,237
Total Net Assets Acquired	$	670,612

Stock issued as consideration	$	791,210
Less cash received - Net		(120,598	)
Total Consideration	$	670,612

On June 30, 2016, the Company purchased 100% interest in TK2 Equipment Management, LLC and Turnkey Services of New York, LLC. The consideration and net assets acquired is as follows:

Cash Paid	$	4,223,567
Net assets at Fair Value		2,861,507
Goodwill	$	1,555,060

Pro forma Results

The following unaudited pro forma results of operations for the twelve months ended June 30, 2016 and 2015 assumes that the TK2 Equipment Management LLC and Turnkey Services of New York LLC acquisitions were made at the beginning of the year prior to acquisition. The unaudited pro forma information does not purport to be indicative of the results that would have been obtained if the acquisitions had actually occurred at the beginning of the year prior to acquisition, nor of the results that may be reported in the future. The results of operations of Radwell Leasing LLC, Radwell LLC and Turnkey Equipment of Great Neck LLC were diminutive and did not affect the proforma results of operations.

	Year ended June 30, 2016		Year ended June 30, 2015
Total Revenues – Net	$	73,368,210	$	69,050,996
Net Income - Controlling Interests	$	16,088,263	$	13,175,717
Net Income Available to Common Stockholders	$	15,042,842	$	12,319,511
Net Income Available to Class A Non-Voting   Preferred Stockholders	$	779,173	$	638,147
Net Income Available to Class C Common Stockholders	$	266,248	$	218,059
Basic Net Income Per Common Share Available to Common Stockholders	$	2.49	$	2.04
Diluted Net Income Per Common Share Available to Common Stockholders	$	2.43	$	1.99
Basic and Diluted Income Per Share - Common C	$	0.70	$	0.57
Weighted Average Basic Shares Outstanding		6,050,893		6,050,632
Weighted Average Diluted Shares Outstanding		6,178,397		6,178,136
Weighted Average Basic and Diluted Shares Outstanding - Class C Common		382,513		382,513