Our country is run by a bunch of Communist thugs. They're whole plan is to break down the family structure so that the state can control the children and our society. It's cultural marxism. All you jokers have been brainwashed into thinking this is a good thing. Look at the inner cities. 70-80% of black babies are born out of wedlock by teenage crack heads. Instead of trying to help these people and educate them, Obama and his anti-American communists promote these values and give them more welfare for having more children. They are now on the third generation of people who have never worked a day in their life and have been getting government benefits. It's not just Obama is both parties doing this. They are breaking down our family structure, breaking down our nation's borders and are trying to create a New World Order with one global currency. America used to be the best country in the world, now we are just the equivalent of the rest of the world. Wait until the dollar is no longer the World Reserve Currency. That's when we will really become a third world country. The difference between us and Europe is that they can't print US dollars, so they are already seeing a severe recession/depression. We're printing our way out of this mess, and so far it's been working, but it won't work for ever. Both our parties and our big corporations sold us out. We are now a society of fast food workers, bartenders and waiters/waitresses. Most of our jobs went overseas.
In the meantime, keep investing. Ben Bernanke is pumping up this market so much. Enjoy the gains while they're still there, and enjoy whatever time we still have until the economy crashes. When the dollar bubble, debt bubble, market bubble, student loan bubble or new housing bubble bursts, then things will get really ugly. That's why the government wants us disarmed. If they cared about our safety they would close the border with Mexico. I wish you all the best of luck in the next few years.
I completely understand all of it.
Fonar's "Net Income" was $1,076,000 per the Income Statement. Did you look at the actual Income Statement or just the press release?
$505,000 of that $1.6 million in Income belongs to the minority investors and not Fonar as the 10Q clearly states. His figures in the press release insinuate Fonar shareholders own the entire $1.6 million in net income which isn't the case.
Fonar only owns 85% of HMCA and they only own 50.5% of the new Health Diagnostics venture. Yet his press release is insinuating 100% of the income belongs to Fonar shareholders?
For the three month period ended March 31, 2013, we reported net income of $1.6 million on revenues of $11.6 million as compared to net income of $1.6 million on revenues of $9.5 million for the three month period ended March 31, 2012.
What part did you not understand? learn to read!!
How much can a person trust Damadian when he issues a press release like he did? In the headline of the PR he boasts "7th Straight Quarter of $1.5 Million of Net Income" yet when you look at the actual financial statements in the 10Q, Fonar's net income was only $1 million and Net Income for the private investors or Non Controlling Interests was $.5 million.
Who does #$%$ like that? What a deceptive #$%$. Way to turn off new investors Dr. D.
"During the quarter the Company's subsidiary, HMCA, entered into an agreement with outside investors to acquire a 50.5% controlling interest in a newly formed limited liability company, Health Diagnostics Management, LLC (HDM). HMCA contributed $20.2 million to HDM and the group of outside investors contributed $19.8 million for its non-controlling membership interest.
On March 5, 2013, HDM purchased from Health Diagnostics, LLC and certain of its subsidiaries (HD), a business managing 12 Stand-Up® MRI centers and two other scanning centers located in the states of New York and Florida.
With the purchase of HD, the Company increased total assets to $73.3 million at March 31, 2013. This compares to total assets of $33.6 million at June 30, 2012, an increase of 118%. Meanwhile, total liabilities increased to $38.3 million at March 31, 2013 as compared to $22.5 million on June 30, 2012, an increase of 70%. Stockholder's equity increased to $35.0 million at March 31, 2013 from $11.1 million on June 30, 2012, an increase of 216%.
FONAR continued on its surge of profitable quarters where net income was greater than $1.5 million, climbing to seven straight quarters. The Company has had 13 straight quarters of income from operations.
Revenues increased 22% to $11.6 million for the quarter ended March 31, 2013, an increase of 21% from $9.6 million for the preceding quarter ending December 31, 2012. The revenues for this quarter are the largest quarterly revenue since the Nation's 2008 financial crisis. Approximately $2.8 million of revenue was from the acquisition of HD."
Ever wonder why no insiders ever buy this stock? Dr. Damadian is the only insider owning Fonar Common shares. He owns 2% of the outsanding common stock whereas 10 years ago he owned almost 3% of the common shares. And am I the only one who wonders that if Tim Damadian is now running Fonar, why doesn't he own any Fonar stock and why he isn't listed as a Company officer?
I find it strange that the Seeking Alpha PR writer doesn't make any mention that Fonar/HMCA only acquired 50.5% of the 12 Health Diagnostics clinic management rights. Wonder who got the 49.5% ownership rights? Fonar won't ever disclose that info.
And then two years ago, HMCA gave away 25% of their subsidiary for a $6,000,000 private placement which also gave those investors an 18% dividend on top of their 25% equity interest in HMCA.
With investments like that, no wonder no insiders are putting their money into Fonar common shares.
Here's the footnote on Fonar giving away 25% of HMCA.
On May 2, 2011, the Company completed a private placement of equity and succeeded in raising $6,000,000. The offering consisted of Preferred Class A membership interests in a newly formed limited liability company, Imperial Management Services, LLC ("Imperial"). Class B membership interests, all of which were retained by the Company's subsidiary, HMCA, holds a 75% equity interest in Imperial. The Class A membership interests are entitled to receive a dividend of 18% per annum of their cash capital contribution of $6,000,000 to the limited liability company. HMCA contributed all of its assets, together with its liabilities, to Imperial as HMCA's capital contribution. The Imperial operating agreement provides for the Class A members to receive priority distributions until their original capital contributions are returned. Dividends are payable quarterly beginning August 1, 2011.
Earnings are supposed to be released today. I assume there's good news coming. I'm sure the SA author timed his release to coincide with the earnings. If he's right, it'll be rocking again tomorrow...
Fonar is up again in a down market. Today it is up 12%. As I stated earlier, FONR is being accumulated by someone for some reason. Only up from here.
I didn't say I don't think it will all eventually work out,but buying 12 of your own machines for 34.4 million is moving in the wrong direction....like buying a rehabilitation business when you just got over 200 million in a lawsuit and you're in the MRI center business,and then selling it back to the same people for pennies on the dollar...I don't understand a lot of things this company does but the technology keeps bailing them out...
You've been watching Fonar for a lot of years... Why bother buying at 2.75 if you don't believe in the management or the core business. You my friend are a joke.
I've been watching fonar for a lot of years and I find it strange that alpha didn't mention that a stand-up mri maker bought centers that already had stand-ups,that doesn't grow the business but instead increases the risks with managing sites,one thing that fonar has never been very good at because the doctor and his sons private management fees ate all the profit,and with that in mind don't you think the purchase price is a little inflated for fonar and the aquisition.I'm expecting to buy at 2.75 during the summer after everyone figures this out...If they would have bought a bankrupt lay down business with forty sites to upgrade to stand-ups the stock would be twenty dollars now,as always having a scientist as a ceo has not worked,the sure thing is usually not the best thing in business like it is in science...