NOTE 8 - BUSINESS COMBINATIONS

6 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

NOTE 8 - BUSINESS COMBINATIONS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2017 and 2016

(Amounts and shares in thousands, except per share amounts)

(UNAUDITED)

NOTE 8 – 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	$	,313
Security deposit		24
Total Consideration		1,337
Net assets at Fair Value		732
Goodwill	$	605

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
Leasehold Improvements		126
Total Net Assets Acquired	$	670

Stock issued as consideration	$	791
Less cash received - net		(121	)
Total Consideration	$	670

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	$	,224
Net assets at Fair Value		2,862
Goodwill	$	1,555

Pro forma Results

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.