2017 Q1 Form 10-Q Financial Statement

#000035501917000011 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q2 2016 Q1
Revenue $218.0K $18.77M $546.0K
YoY Change -60.07% 11.21% 8.76%
Cost Of Revenue $364.0K $9.580M $263.0K
YoY Change 38.4% -1.24% -25.28%
Gross Profit -$146.0K $9.190M $283.0K
YoY Change -151.59% 27.99% 88.67%
Gross Profit Margin -66.97% 48.96% 51.83%
Selling, General & Admin $4.483M $6.380M $4.063M
YoY Change 10.34% 93.92% 9.63%
% of Gross Profit 69.42% 1435.69%
Research & Development $332.0K $390.0K $395.0K
YoY Change -15.95% -44.29% 9.72%
% of Gross Profit 4.24% 139.58%
Depreciation & Amortization $868.0K $790.0K $830.0K
YoY Change 4.58% -9.2% -6.64%
% of Gross Profit 8.6% 293.29%
Operating Expenses $4.815M $6.770M $4.458M
YoY Change 8.01% 70.1% 9.64%
Operating Profit -$4.961M $2.420M -$4.175M
YoY Change 18.83% -24.38% 6.61%
Interest Expense -$69.00K $210.0K -$127.0K
YoY Change -45.67% -310.0% -24.85%
% of Operating Profit 8.68%
Other Income/Expense, Net $2.000K $190.0K
YoY Change -52.5%
Pretax Income $5.982M $2.820M $4.026M
YoY Change 48.58% -19.2% 57.94%
Income Tax $1.140M -$4.520M -$145.0K
% Of Pretax Income 19.06% -160.28% -3.6%
Net Earnings $5.900M $6.360M $3.005M
YoY Change 96.34% 2.58% 48.84%
Net Earnings / Revenue 2706.42% 33.88% 550.37%
Basic Earnings Per Share $0.96 $0.50
Diluted Earnings Per Share $883.2K $969.5K $458.8K
COMMON SHARES
Basic Shares Outstanding 6.166M shares 6.050M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.800M $8.500M $13.10M
YoY Change -40.46% -9.57% 67.95%
Cash & Equivalents $7.750M $8.528M $13.15M
Short-Term Investments
Other Short-Term Assets $1.100M $800.0K $800.0K
YoY Change 37.5% -11.11% -11.11%
Inventory $3.300M $2.100M $2.500M
Prepaid Expenses
Receivables $38.70M $34.20M $34.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $50.84M $45.56M $50.91M
YoY Change -0.13% 4.44% 18.18%
LONG-TERM ASSETS
Property, Plant & Equipment $15.29M $14.51M $11.88M
YoY Change 28.75% 12.49% -11.72%
Goodwill $3.322M $3.322M $1.767M
YoY Change 88.0% 88.0% 0.0%
Intangibles $6.920M $7.719M $8.066M
YoY Change -14.21% -13.75% -16.44%
Long-Term Investments
YoY Change
Other Assets $15.50M $13.80M $9.400M
YoY Change 64.89% 48.39% 42.42%
Total Long-Term Assets $40.96M $39.34M $31.09M
YoY Change 31.74% 19.65% -1.06%
TOTAL ASSETS
Total Short-Term Assets $50.84M $45.56M $50.91M
Total Long-Term Assets $40.96M $39.34M $31.09M
Total Assets $91.80M $84.90M $82.00M
YoY Change 11.95% 10.98% 10.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.183M $1.254M $1.345M
YoY Change -12.04% -29.62% -41.62%
Accrued Expenses $6.500M $9.300M $7.200M
YoY Change -9.72% 27.4% -10.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $4.507M $2.500M
YoY Change -72.0% 80.28% -13.79%
Total Short-Term Liabilities $14.45M $20.61M $18.58M
YoY Change -22.23% 9.69% -8.3%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K $2.100M $3.900M
YoY Change -92.31% -63.16% -38.1%
Other Long-Term Liabilities $1.100M $1.000M $1.000M
YoY Change 10.0% 42.86% 150.0%
Total Long-Term Liabilities $1.948M $3.498M $5.328M
YoY Change -63.44% -49.42% -26.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.45M $20.61M $18.58M
Total Long-Term Liabilities $1.948M $3.498M $5.328M
Total Liabilities $16.40M $24.11M $23.91M
YoY Change -31.41% -6.21% -13.2%
SHAREHOLDERS EQUITY
Retained Earnings -$106.9M -$120.6M
YoY Change -11.53%
Common Stock $176.8M $173.7M $175.4M
YoY Change 0.75% -0.99% 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) -$675.0K -$675.0K -$675.0K
YoY Change 0.0% 0.0% -200.0%
Treasury Stock Shares
Shareholders Equity $69.20M $60.78M $47.80M
YoY Change
Total Liabilities & Shareholders Equity $91.82M $84.89M $82.01M
YoY Change 11.96% 10.98% 10.02%

Cashflow Statement

Concept 2017 Q1 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income $5.900M $6.360M $3.005M
YoY Change 96.34% 2.58% 48.84%
Depreciation, Depletion And Amortization $868.0K $790.0K $830.0K
YoY Change 4.58% -9.2% -6.64%
Cash From Operating Activities $2.770M $6.320M $2.390M
YoY Change 15.9% 33.9% -9.47%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$230.0K -$150.0K
YoY Change 100.0% 475.0% 36.36%
Acquisitions
YoY Change
Other Investing Activities -$4.220M
YoY Change
Cash From Investing Activities -$300.0K -$4.450M -$150.0K
YoY Change 100.0% 11025.0% 36.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.420M -6.490M -2.040M
YoY Change 18.63% 111.4% -67.97%
NET CHANGE
Cash From Operating Activities 2.770M 6.320M 2.390M
Cash From Investing Activities -300.0K -4.450M -150.0K
Cash From Financing Activities -2.420M -6.490M -2.040M
Net Change In Cash 50.00K -4.620M 200.0K
YoY Change -75.0% -386.96% -105.21%
FREE CASH FLOW
Cash From Operating Activities $2.770M $6.320M $2.390M
Capital Expenditures -$300.0K -$230.0K -$150.0K
Free Cash Flow $3.070M $6.550M $2.540M
YoY Change 20.87% 37.61% -7.64%

Facts In Submission

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CY2017Q1 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
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482000 usd
CY2016Q2 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
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482000 usd
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25000 usd
CY2016Q2 us-gaap Billings In Excess Of Cost Current
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207000 usd
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us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
26509000 usd
us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
24596000 usd
CY2017Q1 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
9028000 usd
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1293000 usd
us-gaap Income Tax Expense Benefit
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CY2017Q1 us-gaap Income Tax Expense Benefit
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1140000 usd
us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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3698000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Repayments Of Other Debt
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5000 usd
us-gaap Repayments Of Other Debt
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6000 usd
us-gaap Payments Of Dividends Minority Interest
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us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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us-gaap Repayments Of Notes Payable
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-3431000 usd
us-gaap Repayments Of Notes Payable
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Increase Decrease In Accounts Payable Related Parties
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-17000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
178000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
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249000 usd
us-gaap Increase Decrease In Customer Advances
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-181000 usd
us-gaap Increase Decrease In Customer Advances
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-427000 usd
us-gaap Increase Decrease In Other Current Liabilities
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-4008000 usd
us-gaap Increase Decrease In Other Current Liabilities
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576000 usd
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Other Noncurrent Assets
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223000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
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-143000 usd
us-gaap Increase Decrease In Prepaid Expense
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-278000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
9000 usd
us-gaap Increase Decrease In Inventories
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-596000 usd
us-gaap Increase Decrease In Inventories
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-43000 usd
us-gaap Increase Decrease In Receivables
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12000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
17000 usd
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Depreciation And Amortization
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2587000 usd
us-gaap Depreciation And Amortization
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2507000 usd
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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362000 usd
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q1 FONR Costs Incurred On Uncompleted Contracts
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1031000 usd
CY2016Q2 FONR Costs Incurred On Uncompleted Contracts
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894000 usd
CY2017Q1 FONR Estimated Earnings
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999000 usd
CY2016Q2 FONR Estimated Earnings
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491000 usd
CY2017Q1 FONR Subtotal Costs Estimated Earnings And Billings On Uncompleted Contracts Plus Costs Incurred On Uncompleted Contracts
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2030000 usd
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1385000 usd
CY2017Q1 us-gaap Accrued Salaries Current
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891000 usd
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3189000 usd
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245000 usd
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385000 usd
CY2017Q1 us-gaap Accrued Professional Fees Current And Noncurrent
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123000 usd
CY2016Q2 us-gaap Accrued Professional Fees Current And Noncurrent
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2580000 usd
CY2016Q2 us-gaap Other Accrued Liabilities Noncurrent
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2487000 usd
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1140000 usd
CY2016Q1 us-gaap Health Care Organization Patient Service Revenue Provisionfor Bad Debts
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us-gaap Health Care Organization Patient Service Revenue Provisionfor Bad Debts
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-11859000 usd
us-gaap Health Care Organization Patient Service Revenue Provisionfor Bad Debts
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CY2017Q1 us-gaap Health Care Organization Patient Service Revenue Provisionfor Bad Debts
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CY2017Q1 FONR Managment And Other Fees Receivable Related Medical Practices Net Allowances
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5255000 usd
CY2016Q2 FONR Managment And Other Fees Receivable Related Medical Practices Net Allowances
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4064000 usd
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624000 usd
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CY2017Q1 us-gaap Other Liabilities
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890000 usd
CY2016Q2 us-gaap Other Liabilities
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712000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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9428000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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10300000 usd
CY2017Q1 FONR Accounts Receivable Service And Repair Fees
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3614000 usd
CY2016Q2 FONR Accounts Receivable Service And Repair Fees
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4370000 usd
CY2016Q1 us-gaap Earnings Per Share Basic
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0.5
us-gaap Earnings Per Share Basic
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2.23
us-gaap Earnings Per Share Basic
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CY2017Q1 us-gaap Earnings Per Share Basic
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FONR Provision For Bad Debts
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FONR Provision For Bad Debts
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CY2015Q3 FONR Hmca Ownership Size Of Imperial Management Services Percent
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0.242 pure
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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15264000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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11686000 usd
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Investment Income Net
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145000 usd
us-gaap Investment Income Net
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CY2017Q1 us-gaap Investment Income Net
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CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7750000 usd
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8528000 usd
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9449000 usd
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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13147000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
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CY2017Q1 us-gaap Inventory Work In Process
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279000 usd
CY2016Q2 us-gaap Inventory Work In Process
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CY2017Q1 us-gaap Other Inventory Supplies
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CY2016Q2 us-gaap Other Inventory Supplies
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CY2017Q1 us-gaap Finite Lived Intangible Assets Gross
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CY2015Q3 FONR Ownership Interest After Reorganization For Hdm Original Investors Of Newly Expanded Hdm Percent
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dei Entity Registrant Name
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Fonar Corporation
dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Type
DocumentType
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dei Document Period End Date
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dei Amendment Flag
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dei Entity Filer Category
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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CY2016Q2 us-gaap Interest Payable Current
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us-gaap Interest Expense
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FONR Value Of Shares Issued To Employees As Compensation Value.
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FONR Value Of Shares Issued In Settlement Of Liabilities Value.
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us-gaap Deferred Other Tax Expense Benefit
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CY2017Q1 us-gaap Deferred Other Tax Expense Benefit
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2 shares
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1900000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1000 shares
us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
2000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
200 shares
FONR Shares Of Common Stock Issued For Acquisition Shares
SharesOfCommonStockIssuedForAcquisitionShares
42000 shares
FONR Value Of Shares Issued For Acquisition Value.
ValueOfSharesIssuedForAcquisitionValue.
791000 usd
CY2017Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
110029000 usd
CY2016Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
800000 usd
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 usd
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 usd
CY2017Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1900000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-649000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
403000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-182000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
112000 usd
CY2017Q1 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
671000 usd
CY2017Q1 us-gaap Business Combination Assets And Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized
671000 usd
CY2017Q1 FONR Stock Issued
StockIssued
791000 usd
CY2017Q1 FONR Additional Cash Considerationless Cash Received
AdditionalCashConsiderationlessCashReceived
-120000 usd
CY2017Q1 FONR Diagnostic Equipment
DiagnosticEquipment
545000 usd
CY2017Q1 FONR Leasehold Improvements
LeaseholdImprovements
126000 usd

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0000355019-17-000011-index-headers.html Edgar Link pending
0000355019-17-000011-index.html Edgar Link pending
0000355019-17-000011.txt Edgar Link pending
0000355019-17-000011-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fonar10-q_20170331.htm Edgar Link pending
fonar_exhibit-31.htm Edgar Link pending
fonar_exhibit-32.htm Edgar Link pending
fonr-20160930.xsd Edgar Link pending
R1.htm Edgar Link pending
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fonr-20160930_cal.xml Edgar Link unprocessable
fonr-20160930_def.xml Edgar Link unprocessable
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fonr-20160930.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
fonr-20160930_lab.xml Edgar Link unprocessable