XML 14 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Jun. 30, 2021
Current Assets:    
Cash and cash equivalents $ 48,722,977 $ 44,460,411
Short term investments 32,326 32,177
Accounts receivable – net of allowances for doubtful accounts of $204,597 and $442,270 at June 30, 2022 and 2021, respectively 4,335,956 4,525,435
Accounts receivable – related party 11,977
Medical receivables – net 20,108,989 17,900,489
Management and other fees receivable – net of allowances for doubtful accounts of $16,627,917 and $15,786,878 at June 30, 2022 and 2021, respectively 33,419,219 30,947,863
Management and other fees receivable – related party medical practices – net of allowances for doubtful accounts of $4,686,893 and $4,184,399 at June 30, 2022 and 2021, respectively 8,602,561 7,814,250
Inventories 2,359,821 1,663,419
Prepaid expenses and other current assets 1,104,325 1,227,463
Total Current Assets 118,686,174 108,583,484
Accounts receivable – long term 1,871,890 2,879,946
Deferred income tax asset 12,842,478 15,958,961
Property and equipment – net 22,281,791 21,850,139
Right-of-use-asset – operating leases 34,232,109 30,133,285
Right-of-use-asset – financing lease 928,109 1,126,990
Goodwill 4,269,277 4,269,277
Other intangible assets – net 3,703,885 4,037,599
Other assets 526,269 666,514
Total Assets 199,341,982 189,506,195
Current Liabilities:    
Current portion of long-term debt and capital leases 40,078 173,206
Accounts payable 1,551,269 1,866,035
Other current liabilities 6,417,227 9,162,118
Operating lease liability – current portion 3,880,129 3,533,656
Financing lease liability – current portion 210,140 202,741
Unearned revenue on service contracts 4,288,766 4,365,825
Customer deposits 361,245 731,101
Contract liabilities 14,739
Total Current Liabilities 16,748,854 20,049,421
Long-Term Liabilities:    
Unearned revenue on service contracts 1,857,257 2,800,522
Deferred income tax liability 215,726 238,316
Due to related party medical practices 92,663 92,663
Operating lease liability – net of current portion 33,090,990 28,975,132
Financing lease liability – net of current portion 838,291 1,048,431
Long-term debt and capital leases, less current portion 155,379 760,254
Other liabilities 106,541 171,331
Total Long-Term Liabilities 36,356,847 34,086,649
Total Liabilities 53,105,701 54,136,070
Stockholders’ Equity:    
Paid-in capital in excess of par value 184,531,535 185,100,976
Accumulated deficit (33,566,757) (46,007,663)
Treasury stock, at cost – 11,643 shares of common stock at June 30, 2022 and 2021 (675,390) (675,390)
Total Fonar Corporation’s Stockholders’ Equity 150,290,114 138,418,649
Noncontrolling interests (4,053,833) (3,048,524)
Total Stockholders’ Equity 146,236,281 135,370,125
Total Liabilities and Stockholders’ Equity 199,341,982 189,506,195
Class A Non Voting Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred Stock Value 31 31
Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred Stock Value
Common Stock [Member]    
Stockholders’ Equity:    
Common Stock Value 657 657
Common Class B [Member]    
Stockholders’ Equity:    
Common Stock Value
Common Class C [Member]    
Stockholders’ Equity:    
Common Stock Value $ 38 $ 38