FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended SEPTEMBER 30, 2022 Commission file number 0-10248 FONAR CORPORATION (Exact name of registrant as specified in its charter) | DELAWARE | 11-2464137 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 110 Marcus Drive Melville, New York | 11747 | | Ad ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR (Exact name of registrant as specified in its charter) DELAWARE 11-2464137 110 Marcus Drive, Melville, New York 11747 (Address of principal executive offices) (Zip Code) (State of incorporation) (IRS Employer Identification Number) (631) 694-2929 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

FORM 10-Q SECURITIES AND EXCHANGE COMMISSION [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended MARCH 31, 2022 Washington, D.C. 20549 Commission file number 0-10248 FONAR CORPORATION (Exact name of registrant as specified in its charter) | DELAWARE | 11-2464137 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | 110 Marcus Drive Melville, New York 11747 Address of pri ...

FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the quarterly period ended DECEMBER 31, 2021 Commission file number 0-10248 FONAR CORPORATION (Exact name of registrant as specified in its charter) | DELAWARE | | | | | 11-2464137 | | --- | --- | --- | --- | --- | --- | | (State or jurisdiction of | other | | | (I.R.S. | Employer | | incorporation or organization) | | | | Identification | No.) | | 110 ...

FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the quarterly period ended SEPTEMBER 30, 2021 Commission file number 0-10248 FONAR CORPORATION (Exact name of registrant as specified in its charter) | delaware | 11-2464137 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 110 Marcus Drive Melville, New York | 11747 | | Ad ...

MRI Technology and Equipment - Fonar's Upright® MRI scanners accounted for approximately 0.8% of total revenues and 10.0% of medical equipment revenues in fiscal 2021, up from 0.1% and 1.0% respectively in fiscal 2020[43]. - The Upright® MRI allows for weight-bearing scans, which can be performed in various positions, enhancing diagnostic capabilities for conditions like Arnold-Chiari Syndrome and scoliosis[23][34]. - Fonar introduced the Upright® Multi-Position™ MRI scanner, which is designed to provide non-claustrophobic imaging experiences for patients[17][36]. - Fonar's scanners operate at a magnetic field strength of 0.6 Tesla, providing a broad range of clinical capabilities and imaging protocols[27]. - The Upright MRI technology offers a significant contrast advantage, with soft tissue contrasts for detecting cancers reaching up to 180%[69]. - Fonar's unique Upright MRI technology allows for weight-bearing imaging, which is critical for diagnosing position-dependent pathologies[75]. Business Operations and Expansion - As of June 30, 2021, HMCA manages a total of 39 MRI scanners, with 25 located in New York and 14 in Florida, contributing to patient volume during the COVID-19 pandemic[24]. - The company has opened a new facility in Pembroke Pines, Florida, and added four additional MRI scanners in New York[24]. - Fonar's forward-looking statements indicate plans for business expansion, although they acknowledge risks and uncertainties, including those related to the COVID-19 pandemic[21][22]. - HMCA's growth strategy includes plans to install three new facilities in fiscal 2022: one in New York and two in Florida[129]. - Fonar's installed base of MRI scanners continues to provide an additional source of income independent of direct sales[52]. Financial Performance - Fonar's service and maintenance revenues from the installed base were approximately $7.7 million in fiscal 2021, down from $8.2 million in fiscal 2020[53]. - Research and development expenditures for the fiscal year ended June 30, 2021, were $1,635,979, compared to $2,025,376 in the previous year[57]. - The backlog of unfilled orders as of September 15, 2021, was approximately $62,000, a significant decrease from $457,000 at the same time in 2020[61]. - HMCA managed a total of 39 MRI scanners as of June 30, 2021, with revenues increasing to $80.9 million from $77.2 million in fiscal 2020[127]. - In fiscal 2021, the aggregate amount of management fees was $4,897,720 per month, an increase from $4,530,422 per month in fiscal 2020, representing a growth of approximately 8.1%[141]. - Patient fees net of provision for bad debts were $23,307,389 in fiscal 2021, compared to $22,495,260 in fiscal 2020, indicating an increase of about 3.6%[145]. Regulatory Compliance and Challenges - Fonar received FDA clearance for the Upright® MRI scanners in the EU in May 2002, and was approved for ISO 13485 certification in April 2003[120]. - Fonar's products are classified as Class II devices, which are subject to general and special controls by the FDA[90]. - The Quality Management System is applicable to the design, manufacture, and servicing of MRI scanner systems, with FDA authority to conduct inspections[95]. - The company believes it is in compliance with current HIPAA requirements and anticipates future compliance costs, which could have a material adverse effect on its business[185]. - The healthcare fraud statute prohibits schemes to defraud any healthcare benefit program, with violations resulting in felony charges, fines, imprisonment, or exclusion from government programs[187]. Marketing and Client Relations - Fonar's marketing efforts are primarily focused on the Upright® MRI, which is unique as it is both open and allows for weight-bearing imaging[44]. - Fonar's marketing strategy targets neurosurgeons, orthopaedic surgeons, radiologists, and general physicians to increase awareness of the Upright MRI's diagnostic benefits[49]. - HMCA's marketing strategy aims to increase the number of managed facilities and improve patient volume and revenue for its clients[147]. - The outpatient diagnostic imaging industry is highly competitive, with HMCA focusing on attracting physician referrals and enhancing relationships with managed care organizations[163]. Impact of External Factors - The company has faced challenges in marketing efforts due to the COVID-19 pandemic and global economic conditions[51]. - The implementation of the Deficit Reduction Act has adversely affected reimbursement rates, but the company has countered this by increasing scan volumes through marketing efforts[178]. - The implementation of the Patient Protection and Affordable Care Act (PPACA) has significantly impacted the healthcare industry, although the full effects remain uncertain[191].

FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended MARCH 31, 2021 Commission file number 0-10248 | Class | Outstanding at May 5, 2021 | | --- | --- | | Common Stock, par value $.0001 | 6,554,210 | | Class B Common Stock, par value $.0001 | 146 | | Class C Common Stock, par value $.0001 | 382,513 | | Class A Preferred Stock, par value $.0001 | 313,438 | FONAR CORPORATION (Exac ...

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES _X_ NO ___ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of ...

Financial Performance - For the three-month period ended September 30, 2020, the company reported a net income of $3.3 million on revenues of $21.0 million, compared to a net income of $4.5 million on revenues of $21.7 million for the same period in 2019, indicating a revenue decrease of 3.2%[87][88] - Operating income decreased from $5.5 million for the three months ended September 30, 2019, to $4.2 million for the same period in 2020, reflecting a decline of 23.6%[89] - HMCA's revenues decreased by 2.4% to $19.0 million in the first three months of fiscal 2021 from $19.5 million in fiscal 2020[104] - Consolidated net revenues decreased by 3.5% to $21.0 million from $21.7 million for the first three months of fiscal 2020, while total costs and expenses increased by 3.5% to $16.8 million[112] - Selling, general and administrative expenses increased to $6.2 million in the first three months of fiscal 2021 from $4.3 million in the same period of fiscal 2020, an increase of 44.2%[113] - Research and development expenses decreased by 18% to $400,000 for the first three months of fiscal 2021 from $472,000 in the same period of fiscal 2020[114] - Foreign revenues decreased by 33.9% to approximately $121,000 in the first three months of fiscal 2021 from approximately $183,000 in fiscal 2020[100] Cash and Liabilities - The company reported a 5.3% increase in cash and cash equivalents, rising from $36.8 million at June 30, 2020 to $38.8 million at September 30, 2020[140] - Cash provided by operating activities for the first three months of fiscal 2021 was $3.8 million, primarily driven by net income of $3.3 million[141] - Total liabilities decreased by 1.5% to $53.2 million at September 30, 2020, down from $54.0 million at June 30, 2020[145] - Working capital increased to $80.5 million at September 30, 2020, up from $77.2 million at June 30, 2020, due to an increase in current assets[147] Technological Advancements - FONAR's Upright® MRI technology allows for scanning patients in multiple positions, significantly improving visualization of spinal abnormalities and treatment outcomes[124] - The Upright® MRI has shown a 250% increase in the visualization of cerebellar tonsil ectopia in patients scanned upright compared to lying down[131] - The UCLA study indicated that static single position MRI missed 35.1% of spondylolistheses and 23.75% of cervical disc bulges, emphasizing the importance of the Upright® MRI[136] - The company has developed a scanning protocol that allows scoliosis patients to obtain diagnostic images without the risks associated with x-rays, impacting over 3 million American women[132] Business Strategy and Future Outlook - The Company entered into a $701,000 loan agreement under the Paycheck Protection Program (PPP) to support Florida locations during COVID-19, with the expectation that most of the loan will be forgiven[155] - The Company has not committed to significant capital expenditures for the remainder of the 2021 fiscal year, except for placing additional scanners at 3 facilities in New York[156] - The business plan focuses on improving and expanding MRI facilities managed or owned by HMCA and increasing the number of scans performed[157] - Management aims to promote wider market recognition of Fonar's scanner products and increase demand for Upright® scanning despite market uncertainties[158] - The Company has achieved profitability for eight consecutive fiscal years and believes its capital resources will support operations through at least September 30, 2021[161] - The future effects of healthcare legislation, COVID-19, and economic conditions on the business are uncertain, but the Company has adequate revenues and cash reserves[161] - The Company maintains its funds in liquid accounts and does not invest in fixed rate instruments[162] - All revenue, expense, and capital purchasing activities are conducted in United States dollars[163]

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _____________________ FORM 10-K _____________________ [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2020 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 0-10248 FONAR CORPORATION (Exact name of registrant as specified in its charter) DELAWARE ...