NOTE 19 - BUSINESS COMBINATIONS

12 Months Ended

Jun. 30, 2018

Business Combinations [Abstract]

NOTE 19 - BUSINESS COMBINATIONS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2018, 2017 and 2016

NOTE 19 – 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

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