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NOTE 19 - BUSINESS COMBINATIONS | 12 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
NOTE 19 - BUSINESS COMBINATIONS | FONAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2019, 2018 and 2017 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 |
Pro forma Results 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.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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