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NOTE 19 - BUSINESS COMBINATIONS | 12 Months Ended
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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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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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