As filed with the Securities and Exchange Commission
                               On June 25,December 7, 2001
                           Registration No. _________
- -------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION

                                    FORM S-3

             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                                FONAR CORPORATION

------------------------------------------------------------------------------- -------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


           Delaware                                             3845
(State or other jurisdiction of                     Primary Standard Industrial
incorporation or organization)                       Classification Code Number

                                   11-2464137
                      (I.R.S. Employer Identification No.)

                                110 Marcus Drive
                            Melville, New York 11747
                                 (631) 694-2929

------------------------------------------------------------------------------- -------------------------------------------------------------------------------
                          (Address, including zip code,
                      and telephone number of registrant's
                          principal executive offices)

                            Raymond V. Damadian, M.D.
                                FONAR CORPORATION
                                110 Marcus Drive
                            Melville, New York 11747
                                 (631) 694-2929

------------------------------------------------------------------------------- -------------------------------------------------------------------------------
 (Name, address, including zip code, and telephone number, including area code,
       of agent for service) Please send copies of all communications to:

                              Henry T. Meyer, Esq.
                                FONAR Corporation
                                110 Marcus Drive
                            Melville, New York 11747
                                 (631) 694-2929
                            ------------------------

     Approximate date of commencement of proposed sale to the public: As soon as
practicable after the effective date of this Registration  Statement If the only
securities  being registered on this Form are being offered pursuant to dividend
or interest reinvestment plans, please check the following box. [ ]

     If any of the securities being registered on this Form are to be offered on
a delayed or continuous  basis  pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest
reinvestment plans, check the following box: [ X ]

     If this Form is filed to  register  additional  securities  for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list  the  Securities  Act  registration  statement  number  of the  earlier
effective registration statement for the same offering: [ ]

     If this Form is a  post-effective  amendment  filed pursuant to Rule 462(c)
under the  Securities  Act,  check the following box and list the Securities Act
registration  statement number of the earlier effective  registration  statement
for the same offering: [ ]

     If delivery of the  prospectus is expected to be made pursuant to Rule 434,
please check the following box: [ ]

                         CALCULATION OF REGISTRATION FEE

Proposed        Proposed
Title of each       Amount          Proposed       proposed        Amount of
class of            to be           maximum        maximum         each class             Amountregistration
securities to       registered      offering       aggregate       Amount of
of securities          to  be        price          offering       registration
tofee
be registered                       registeredprice          offering
                                    per unit       price
fee
- -----------------------------       ----------      --------       ------------------------     ------------
Common Stock         Underlying
Debentures183,924        $1.40          $257,494        $ 61.54
(1) 6,940,499       Varies     $4,500,000.00       $1,125.00


Common Stock
Underlying
Purchase
Warrants  (2)           959,501       $1.801     $1,728,061.30         $432.02


Common Stock
Underlying            2,000,000        $1.61     $3,220,000.00         $805.00
Callable
Warrants  (3)


Total                 9,900,000        -----     $9,448,061.30       $2,362.02


         1)Par value
$0.0001 per
share
- -------------       ----------      --------       -----------     ------------


(1)   Pursuant to Rule 457, Subsection (i) and subsection (g)
         2)       Pursuant to Rule 457, Subsection (g)
         3)       Pursuant to Rule 457, Subsection (c); Specified date: June 19,December 5, 2001

The registrant hereby amends this  registration  statement on such date or dates
as may be necessary to delay its effective date until the registrant  shall file
a further amendment which specifically  states that this registration  statement
shall  thereafter  become  effective  in  accordance  with  Section 8 (a) of the
Securities  Act of  1933  or  until  the  registration  statement  shall  become
effective on such date as the Commission  acting pursuant to said Section 8 (a),
may determine.





PROSPECTUS
9,900,000- ----------
                                 183,924 Shares

                                FONAR CORPORATION

                                  Common Stock

     This is a prospectus  will allow usfor the resale,  from time to issuetime,  of up to 183,924
shares of our common  stock  which has been  issued to the  ownersselling  stockholder
listed  in  this  prospectus,  or by the  pledgees  or  donees  of  our 4%
convertible  debentures  due June  30,  2002,  purchase  warrants  and  callable
warrants if the  owners elect to exercise  their  options to convertselling
stockholder or exercise.
This  prospectus  will also  allowby other  transferees  who may receive the owners to resell  the  shares.  Since the
owners  will be able to  exercise  their  rights up to June 30,  2002  under the
debentures,  up to May 24, 2006 under the  purchase  warrants  and up to May 24,
2004 under the callable warrants, theshares of common stock
in transfers  other than public  sales.  We will not receive any of the proceeds
from the sale of these shares.

     The selling  stockholder  may sell the shares in open  market  transactions
from time to time at market prices through brokers, dealers or agents. See "PLAN
OF DISTRIBUTION" at page __ of this prospectus for a more detailed discussion of
the manner in which the shares may be issued over time. This
means

- -    we will  provide a  prospectus  supplement  as required to update  material
     information contained in this prospectus; and

- -    you should  read this  document  and any  prospectus  supplement  carefully
     before you invest.

- -    The  conversion  price for the  debentures  and the exercise  price for the
     purchase  warrants are fixed.  The proceeds we would  receive if the owners
     elect to buy the common  stock are shown  below.  Neither we nor the owners
     will  have to pay any  commissions  on  debenture  conversions  or  warrant
     exercises.

                            Maximum No.        Per Share         Maximum
         Security           of Shares             Price          Proceeds
         -----------        -----------        ---------        ----------

         Convertible         2,198,339           $2.047         $4,500,000
         Debenture

         Purchase              959,501           $1.801         $1,187,761
         Warrant

     The exercise  price for the callable  warrants will change at the beginning
of each calendar month and be equal to the average  closing bid price of Fonar's
common  stock  for  the  prior  calendar  month.  Assuming  for the  purpose  of
illustration that the callable warrants are exercised at $1.66 per share,  which
was the  closing  bid  price for the  common  stock on June 15,  2001,  we would
receive proceeds as shown below:

                            Maximum No.        Per Share         Maximum
         Security           of Shares             Price          Proceeds
         -----------        -----------        ---------        ----------

         Callable
         Warrants            2,000,000           $1.66          $3,320,000

     Even if the debentures  are not converted  because the market price for thesold.

     Our common  stock is less thantraded on the conversionNasdaq Small Cap Market under the symbol
"FONR." On December 5, 2001,  the last reported sales price for the  debentures,  we would
still have the option of paying the debentures inour common stock
rather than cash.
In this case,  however,  the common stock would be valued at a much lower price,
at the lesser of a) 90% of the  average of the four  lowest  closing  bid prices
during the preceding calendar month or b) the average of the four lowest closing
bid prices during the  preceding  calendar  month less $0.125.  Assuming that we
were paying the $4.5 million  principal in  debentures  today  according to that
formula, the common stock required to be issued would be as follows:

                            Maximum No.        Per Share         Maximum
         Security           of Shares             Price          Proceeds
         -----------        -----------        ---------        ----------

         Convertible
         Debenture           3,435,115           $1.31          $4,500,000

     An  investmentwas $1.40 per share.

     Investing  in our common stock  is subject toinvolves a high leveldegree of risk and
yourisk.  You should
consider carefully  read and  consider the risk factors described in this prospectus seebefore making a
decision  to  purchase  our  stock.  See  "RISK  FACTORS".

     THESE  SECURITIES  HAVE NOT BEEN APPROVED OR  DISAPPROVED BY  at  page  __ of  this
prospectus.

     NEITHER THE  SECURITIES AND EXCHANGE  COMMISSION  NOR ANY STATE  SECURITIES
COMMISSION HAS THE  COMMISSIONAPPROVED OR  DISAPPROVED  OF THESE  SECURITIES OR PASSED UPON THE
ACCURACYADEQUACY OR ADEQUACYACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.

                We expect to pay expensesThe Date of this Prospectus is December __, 2001.

     You may rely only on the information contained in this offeringprospectus.  We have
not  authorized  anyone to provide  information or to make  representations  not
contained in this prospectus.  This prospectus is neither an offer to sell nor a
solicitation  of approximately $78,000.

     On June 15, 2001,an offer to buy any securities  other than those  registered by
this prospectus, nor is it an offer to sell or a solicitation of an offer to buy
securities  where an offer  or  solicitation  would  be  unlawful.  Neither  the
closing price for our common stock (Symbol: FONR) was
$1.67 per share,delivery of this prospectus, nor any sale made under this prospectus, means that
the information contained in this prospectus is correct as reported by Nasdaq. Our common stock is traded onof any time after the Nasdaq
SmallCap Market.

                  The
date of this prospectus is June 25, 2001prospectus.


                                TABLE OF CONTENTS

ABOUT  THIS PROSPECTUS...........................................................PROSPECTUS.........................................................
ABOUT FONAR.....................................................................FONAR CORPORATION........................................................
ABOUT THIS OFFERING............................................................
RISK FACTORS....................................................................FACTORS...................................................................
FORWARD-LOOKING STATEMENTS......................................................STATEMENTS.....................................................
USE OF PROCEEDS.................................................................PROCEEDS...............................................................
SELLING STOCKHOLDER...........................................................
PLAN OF DISTRIBUTION ....................................................................................................................
LEGAL MATTERS...................................................................

EXPERTS.........................................................................MATTERS.................................................................
MATERIAL CHANGES..............................................................
EXPERTS ......................................................................
INDEMNIFICATION ..............................................................................................................................
WHERE YOU CAN FIND MORE INFORMATION.............................................INFORMATION...........................................
INCORPORATION OF INFORMATION WE FILE WITH THE SEC.............................

                              ABOUT THIS PROSPECTUS

     This prospectus is part of a registration  statement that we filed with the
Securities  and  Exchange  Commission using a "shelf" registration  process.Commission.  Under this  shelf  process,  weregistration  statement  the
selling  stockholder  may sell from time to time issue any number of theup to 183,924  shares of our common
stock uponstock. These shares were issued to the conversionselling  stockholder in consideration for
270,000 shares of the  debentures or the exercise of the
warrants up to a total of 9,900,000 shares.

     The number of shares being registered,  by the terms of the agreements with
the Tail  Wind Fund is two times  the  number  of  shares  necessary  to pay the
debentures at the lower of the market price,eMajix.com, Inc..


     Periodically,  as computed under the agreements or
conversion price, plus the number of shares underlying the warrants.

     Periodically,required,  we expect to provide a  prospectus  supplement
that will add, update or change  information  contained in this prospectus.  You
should read both this prospectus and any prospectus supplement together with the
additional  information  described  below under the heading  "Where You Can Find
More Information."

     The  registration  statement that contains this  prospectus,  including the
exhibits to the  registration  statement  and the  information  incorporated  by
reference,  contains additional information about the common stock offered under
this prospectus.  The  registration  statement can be read at the Securities and
Exchange  Commission's  web site or at the  Securities  and Exchange  Commission
offices mentioned below under the heading "Where You Can Find More Information."

     You should rely only on the information  provided in this prospectus and in
any prospectus supplement,  including the information incorporated by reference.
We have not  authorized  any  dealer,  salesperson  or other  person to give any
information or represent  anything not contained in this prospectus.  You should
not rely on any unauthorized information. This prospectus does not constitute an
offer to sell any  shares  in any  jurisdiction  in  which it is  unlawful.  The
information  in this  prospectus  is current  as of the date on the  cover.  You
should not assume that the information in this prospectus,  or any supplement to
this  prospectus,  is accurate at any date other than the date  indicated on the
cover page of these documents.


                             ABOUT FONAR CORPORATION

     At Fonar we design, manufacture and market magnetic resonance imaging (MRI)
scanners.  MRI scanners use magnetic fields to generate images of organs,  bones
and tissue  inside the human body.  The MRI scanner uses a magnetic  field which
causes  the  hydrogen  atoms in  tissue  to align.  When the  magnetic  force is
withdrawn,  the atoms fall out of alignment  emitting  radio signals as they do.
The speed at which the atoms fall out of  alignment,  or  "relaxation  time" and
radio signals vary  depending on the type of tissue and whether any pathology is
present.  The radio signals provide the data from which the scanner's  computers
generate an image of the body part being scanned.

     Our address is 110 Marcus Drive,  Melville,  New York 11747,  our telephone
number there is (631) 694-2929 and our Internet address is http://www.fonar.com.

     Fonar  offers  the  following  MRI  scanners:  the  Stand-Up,  also  called
Indomitable  (TM),  QUAD (TM),  Fonar-360  (TM) and Echo (TM). The Pinnacle (TM)
MRI, a  work-in-progress,  recently  received FDA clearance to market on June 6,
2001.

     The  Stand-Up  allows  patients to be scanned  while  standing,  sitting or
reclining.  We believe  that the  Stand-Up is the first and  presently  only MRI
scanner in which this is possible.  This means that anyan  abnormality  or injury,  such as a slipped disc,
will be able to be scanned under full weight-bearing  conditions, or, more often
than not, in the  position in which the patient  experiences  pain.  An elevator
built into the floor brings the patient to the desired height in the scanner. An
adjustable bed allows the patients to stand, sit or lie on their backs, sides or
stomachs,  at any angle. In the future,  the Stand-Up may also be useful for MRI
directed surgical procedures and could be particularly  useful in trauma centers where a quick MRI
screening  within the first critical hour of treatment would greatly improve the
patient's chances for survival and complete recovery.procedures.

     The Fonar 360 is an enlarged room sized magnet in which the floor,  ceiling
and walls of the room are part of the magnet frame.  Consequently,  this scanner
allows 360 degree access to the patient.  Physicians and family members are able
to  actually  enter the  scanner  and  approach  the  patient.  The Fonar 360 is presently marketed as
a diagnostic scanner and is sometimes referred to as the Open Sky MRI. The walls can be decorated  with  panoramic  murals and the entire
scan room can be decorated to be incorporated into the pictured landscape.

     In the future,  we may also further develop the Fonar 360 to function as an
operating room. We sometimes refer to this contemplated version of the Fonar 360
as the OR-360.

     The room sized magnet and 360 degree access to the patient would permit
surgical teams to walk into the magnet and perform surgery on the patient inside
the magnet.  The MRI image could be obtained during surgery to guide the surgeon
in the surgery.  Surgical instruments,  needles,  catheters,  endoscopes and the
like could be  introduced  directly  into the  patient's  body and guided to the
right location by means of the MRI image. For example, chemotherapy or radiation
in a cancer  case  could be  delivered  directly  to the  malignant  tumor.  The
challenges  in  converting  the  Fonar-360 to an actual  operating  room include
designing  instruments  and  support  equipment  which can be used in a magnetic
field and conforming the OR-360 to operating room standards for the surgeries in
question.

     The QUAD  scanner is  supported  by four  posts and is open on four  sides,
thereby allowing access to the scanning area from four sides.  We believe the QUAD (TM) 12000 MRI scanner was
the first  "open" MRI scanner  with a high field  magnet. The QUAD (TM) 7000
is similar in design to the QUAD 12000 but uses a smaller lower field magnet.

     We are also  developing  theThe  "Pinnacle"  (TM)  which is a  superconductive  version of our open iron frame
magnet. The Pinnacle received FDA clearance on June 6, 2001.

     Fonar also offers a low cost, low field open MRI scanner, the Echo (TM).

     In addition to manufacturing MRI scanning systems,  we formed a subsidiary,
Health Management  Corporation of America, which we sometimes call HMCA, in 1997
to engage in the business of managing imaging  facilities and medical practices.
HMCA provides and supervises the non-medical  personnel for the clients at their
sites.  At HMCA we also  provide our clients  centralized  billing,  collection,
marketing,  advertising,  accounting  and  financial  services.  We also provide
office  equipment  and  furnishing,  consumable  supplies  and in some cases the
office  space  used by our  clients.  Almost all of HMCA's  client  professional
corporations are owned by Fonar's founder,  President and Chairman of the Board,
Dr. Raymond V. Damadian.

     HMCA's address is at 6 Corporate  Center Drive,  Melville,  New York 11747,
its  telephone  number  there is (631)  694-2816  and its  internet  address  is
www.hmca.com.

     Approximately  72% of our  consolidated  revenues for the fiscal year ended
June 30,  2001 and 81% for the fiscal  year ended June 30, 2000 were from HMCA's
management services.

     Approximately  98% of HMCA's  revenues  for the fiscal  year ended June 30,
2001 and 99% of HMCA's  revenues  for the fiscal  year ended June 30,  2000 were
derived from entities owned by Dr. Raymond V. Damadian.


                               ABOUT THIS OFFERING

     The selling  stockholder  will act  independently of us in making decisions
with  respect to the timing,  manner and size of sales of the  shares.  They may
sell them in the open  market at  market  prices  through  brokers,  dealers  or
agents,   or  in  private   transactions  on  negotiated  terms.  See  "PLAN  OF
DISTRIBUTION"  for a more  detailed  discussion of the ways in which the selling
stockholders might sell their shares.

     Our common stock is traded on the Nasdaq Small Cap Market.

NASDAQ Symbol..............FONR


                                  Risk Factors...............AnRISK FACTORS

An investment in our stock is high riskrisk. You should carefully  consider the risk
factors  in this  prospectus  before  deciding  whether to  purchase  the shares
offered. See "Risk Factors."RISK FACTORS."

This summary is qualified in its entirety by the more detailed  information
appearing elsewhere in the prospectus.
                                  RISK FACTORS

     An investment in Fonar is highly  speculative  and subject to a high degree
of risk. Therefore,  you should carefully consider the risks discussed below and
other  information  contained in this  prospectus  before  deciding to invest in
shares of our common stock.

1.   We have and continue to experience significant losses.

     For the fiscal years ended June 30, 20002001 and June 30, 1999,2000, we  experienced
net losses of $10.96$15.18 million and $14.22$10.96 million  respectively  and net operating
losses of $16.43$16.21 million and $15.61$15.51 million respectively. For the nine monthsfiscal quarter
ended  March 31,September 30, 2001, we experienced a net loss of $9.7$3.8 million and anas compared
to a net loss of $3.9 million for the fiscal quarter end September 30, 2000. Our
operating  loss of $10.8  million.$3.4 million for the first  quarter of fiscal 2002,  however,
improved,  compared to the operating  loss of $4.0 for the first quarter  fiscal
2002, due to increased  scanner  sales.  We have been able to fund our losses to
date  from the  $128.7  million  judgment,  net  amount of $77.2  million  after
attorney's  fees,  received  from  General  Electric  Company in 1997 for patent
infringement   and  from  other  patent   litigation   settlements   with  other
competitors, the terms of which agreements are required to be kept confidential.
As of March 31,September 30, 2001,  however,  our balance sheet shows  approximately $10.3$7.6
million in cash or cash  equivalents  and $7.6$6.1 million in marketable  securities
out of total current assets of $40.1$35.2 million. We believe that we will be able to
reverse our operating losses with the  introduction  into the marketplace of our
new MRI scanners and from the operating income generated by our subsidiary HMCA.
HMCA  operating  income washas declined  from $3.12 million in fiscal 1999 to $2.48
million in fiscal  2000 and $2.2to $1.0  million  for fiscal  2001.  HMCA  operating
income for the first  nine
monthsquarter of fiscal 2002  declined to $550,000,  compared to
$801,000 for the first quarter of fiscal 2001. There can be no assurance  however, that we
can reverse our operating losses.

2.   Fonar is dependant on the success of its new products to become profitable.

     Our ability to generate future operating profits will depend on our ability
to market and sell our new lines of MRI products.  The Stand-Up MRI, also called
"Indomitable(TM),  Fonar  360(TM)  and Echo  scanners  have  all  been  recently
introduced  into the market.  Although we are  optimistic  that these  scanners'
features will make them competitive,  there can be no assurance as to the degree
or timing of market  acceptance  of these  products.  Revenues from the sales of
QUAD(TM)  scanners,  introduced  in 1995,  have not been  sufficient  to date to
generate  operating  profits.  The  product  we  are  currently  promoting  most
vigorously  is the  Stand-Up  MRI.  We  believe  the  Stand-Up  MRI is the  most
promising  because it enable scans to be performed on patients in weight bearing
positions,  such as sitting or  standing.  The  market for the  Stand-Up,  which
received FDA clearance in October  2000,  is still largely untested.being  tested.  The following
chart shows the revenues  attributable  to each model between October 1, 2000during fiscal 2001 and March 31, 2001.the
first  quarter of fiscal  2002.  Please  note that we  recognize  the revenue on
scanner sales on a percentage of  completion  basis.  This means we book revenue
not as money is  received  or sales  are  made,  but as the  scanner  is  built.
Consequently,  the revenues for a fiscal period do not necessarily relate to the
orders placed in that period.

                 Model          Revenues Recognized

---------                -------------------Fiscal Year Ended June 30, 2001

                 Stand-Up       $ 990,7001,640,615
                 Fonar 360                0
                 QUAD            $3,043,308
                 Echo            $1,052,182

Fiscal Quarter Ended September 30, 2001

                 Stand-Up       $ 1,798,645
                Echo                        $   328,9501,581,378
                 QUAD                48,000

3.   We must compete in a highly  competitive  market against  competitors  with
     greater financial resources than we have.

     The medical equipment  industry is highly  competitive and characterized by
rapidly changing  technology and extensive research and development.  The market
demand for a continuing  supply of new and improved products requires that we be
engaged  continuously  in research and  development.  New products  also require
continuous retooling or at least modifications to our manufacturing  facilities,
and our sales and marketing force must  continuously  adjust to new products and
product  features.  This is highly  expensive and companies  with  substantially
greater  financial  resources  than we have engage in the  marketing of magnetic
resonance   imaging   scanners  which  compete  with  the  Company's   scanners.
Competitors include large,  multinational  companies or their affiliates such as
General Electric Company,  Siemens A.G.,  PickerMarconi  International,  Philips N.V.,
Toshiba  Corporation  Hitachi Corporation and ShimadzuHitachi  Corporation.  There can be no assurance  that
Fonar's  products  will be able to  successfully  compete  with  products of its
competitors.

4.   The  success of some of the  businesses  purchased  by HMCA  depends on the
     continued employment of the former owners of those businesses.

     The businesses acquired by HMCA are essentially service organizations whose
continued  success  depends  on  retaining  and  developing   existing  business
relationships.  These  relationships are often heavily dependant on the personal
efforts of key persons in the acquired company or medical  practices  managed by
the  acquired  company.  HMCA has  sought to retain  these  key  people  through
employment agreements which include both noncompetition  covenants and financial
incentives.  Nevertheless,  there can be no assurance that these key people will
remain as employees or produce results sufficient to make the acquired companies
profitable.

5.   HMCA'S profitability depends on its ability to successfully perform billing
     and collection services for its clients.

     HMCA performs billing and collection services for the medical practices and
MRI facilities it manages.  The viability of HMCA's clients and their ability to
remit  management fees to HMCA depends on HMCA's ability to collect the clients'
receivables.  Collectibility of these  receivables can be adversely  affected by
the  longer  payment  cycles and  rigorous  informational  requirements  of some
insurance  companies  or  other  third  party  payors.  Proper   authorizations,
referrals  and  confirmation  of  coverage  for  patients,  as well as issues of
medical  necessity,  need to be addressed  prior to the  rendering of service to
assure prompt payment of claims. HMCA believes it is properly addressing billing
and collection  requirements  and issues for its clients and that its collection
rates are good.  Nevertheless,  the regulations and  requirements  applicable to
medical billing and collections could change in the future and result in reduced
or delayed collections.  Approximately 97%98% of HMCA's revenues for the receivables  billed  and
collected  by HMCAyear ended
June 30, 2001 are from professional  corporationsentities owned by Raymond V. Damadian.

6.   Capitated  insurance  programs  could  adversely  affect HMCA's  clients by
     shifting a part of the  financial  responsibility  for patient  care to the
     medical providers.

     Certain HMO's and insurers have instituted  managed care programs where the
physician or physician  group is paid on a capitated  basis.  Under these plans,
the  physician is not paid  according to the  services  provided,  but is paid a
fixed  monthly fee per patient,  which in HMCA's  experience is based on age and
gender.  Currently,  approximately  12.3%less than two percent of HMCA's clients'  revenues are from
capitated  programs.  Under  capitated  insurance  programs,  the  physician  or
physician  practice  in  effect  bears  some of the risk in the  event a patient
requires  extensive  treatment.  In the event that HMCA's  client  primary  care
practices  experience a shortfall between the capitated payments and the cost of
providing  services,  the ability of those  practices to pay for HMCA's services
may be impaired.

7.   The profitability of HMCA could be adversely  affected if medical insurance
     reimbursement raterates change.

     HMCA receives  substantially  all of its revenue from medical practices and
providers of MRI services.  Consequently,  HMCA would be indirectly  affected by
changes in medical  insurance  reimbursement  policies,  HMO policies,  referral
patterns,  no-fault  and  workers  compensation  reimbursement  levels and other
factors affecting the  profitability of a medical practice or MRI facility.  The
types of medical  providers  served by HMCA are (a) MRI facilities,  (b) primary
care practices and (c) physical therapy and rehabilitation practices.  There are
approximately 20 MRI facilities served by HMCA located in New York,  Florida and
Georgia.  The primary care  practices  served by HMCA consist of four offices in
New York and the physical therapy and rehabilitation  practices consist of eight
offices  located  primarily  in New York.  Approximately  40%57% of HMCA's  clients
revenues arefor the year ended June 30, 2001 were  generated  from the no-fault and
personal  injury  protection  claims.  Although  we do not  know of any  pending
adverse development  affecting these types of facilities,  future changes in the
reimbursement  levels for MRI,  primary care,  workers  compensation or no fault
reimbursement,   or  changes  in  utilization   policies  for  MRI  or  physical
rehabilitation  therapy could adversely  affect the ability of HMCA's clients to
pay  HMCA's  fees.  In  addition,  HMCA  depends on the  ability of the  medical
practices and providers to attract and retain physicians and other  professional
staff.

8.   The  amortization  of the  goodwillmanagement  agreements on our balance sheet will
     reduce future profits.

     HMCA acquired  businesses  which were  essentially  service  businesses for
purchase prices based on earnings  multiples rather than net tangible assets. As
the historical cost of the assets was small relative to the purchase price,  the
consolidated  balance sheet of Fonar, HMCA and Fonar's  subsidiaries  reflects a
net carrying value of approximately $20.7$20.4 million in goodwillmanagement agreements as at
March 31,June 30, 2001 and $20.1 million as at September 30, 2001.  Before  amortization,
the aggregate amount of goodwillmanagement  agreements  attributable to the acquisitions
was approximately  $23.4 million.  Amortization of this goodwill,these management  agreements,
which is over a period  of  twenty  (20)  years,  will  reduce  net  profits  by
approximately $1.2 million annually. This is a non-cash annual expense.

9.   Professional  liability  claims  against  HMCA or its  clients  may  exceed
     insurance coverage levels.

     Although with one exception,  HMCA does not provide medical services, it is
possible  that a patient  suing one of HMCA's  client  medical  practices or MRI
facilities  would also sue HMCA.  In Florida,  where the  corporate  practice of
medicine  is legally  permissible,  a  subsidiary  of HMCA in one case  provides
medical  care  through  employee  doctors  and could be subject to  professional
liability claims in the event of malpractice. Neither HMCA nor its clients carry
professional  liability  insurance but physicians  working for HMCA's clients or
for  HMCA's  subsidiaries  are  required  to  maintain  professional   liability
insurance in the minimum amount of  $1,000,000/$3,000,000.  Such insurance would
not cover HMCA or a client  professional  corporation,  however,  in the event a
claim were made which was not covered by the  physician's  insurance.  Claims in
excess of  insurance  coverage  might also have to be  satisfied  by HMCA or its
clients if they were named as defendants.

10.  We do not carry  product  liability  insurance  and  would  have to pay any
     claims from our revenues and capital resources.

     Fonar  does not carry  product  liability  insurance  but is  self-insured.
Consequently,  Fonar would have to pay from its own resources any valid products
liability claim. To date, Fonar has not had to pay any such claims.

11.  We are dependant upon the services of Dr. Damadian.

     Our success is greatly  dependent upon the continued  participation  of Dr.
Raymond V. Damadian,  Fonar's founder,  Chairman of the Board and President. Dr.
Damadian  has acted as our CEO  since  1978 and will  continue  to do so for the
foreseeable  future. In addition to providing general supervision and direction,
he provides active direction, supervision and management of our sales, marketing
and research and  development  efforts.  In  connection  with the  physician and
diagnostic  management  services  business  conducted by HMCA, Dr. Damadian owns
most of the professional corporations which are HMCA clients. With the exception
of four  professional  corporations  which provided  management  fees to HMCA of
approximately  $374,000  in  the  aggregate  during  fiscal  2001,  all  of  the
professional corporations are owned by Dr. Damadian. Loss of the services of Dr.
Damadian would have a material adverse effect on our business. We do not have an
employment or  noncompetition  agreement with Dr. Damadian.  We do not currently
carry "key man" life insurance on Dr. Damadian.

12.  Dr. Raymond V. Damadian has voting control of Fonar; the management  cannot
     be changed or the company sold without his agreement.

     Dr. Raymond V. Damadian, the President, Chairman of the Board and principal
stockholder  of Fonar is and will  continue  to be in  control of Fonar and in a
position to elect all of the directors of Fonar. As of March 31,September 30, 2001, there
were outstanding  58,787,81760,033,490 shares of common stock,  having one vote per share,
4,211 shares of Class B common  stock,  having ten votes per share and 9,562,824
shares of Class C common stock,  having 25 votes per share.  Of these totals Dr.
Damadian owned 2,488,274  shares of common stock and 9,561,174 shares of Class C
common stock,  giving him over 80% of the voting power of Fonar's  voting stock.
This  means that the  holders  of the  common  stock will not be able to control
decisions  concerning any merger or sale of Fonar,  the election of directors or
the determination of business and management policy.

13.  The dilution  which may result from the payment of theits debentures in common
     stock could be significant.

     In May, 2001, the Company  issued  convertible  debentures in the principal
amount of $4.5 million. As of December 7, 2001, the outstanding principal amount
of the debentures was $3.15 million.  The debentures can be converted at a price
of $2.047 per share,  which would  result in  2,198,3391,538,837  shares of common  stock
being  issued. If, however,issued  if  the  remaining  principal  balance  of  the  debentures  were
converted.  At the times when the market price for our common stock is less than
$2.047 per share,  thenhowever,  the  holders  will not be likely to convert  and we
willwould be left with the alternative of paying the debentures in cash or in shares
of common stock valued, for the purpose of payment,  at a discount from the then
current market value for the common stock.  This  discounted  value would be the
lesser of (1) 90% of the  average of the four lowest  closing bid prices  during
the preceding  calendar  month or (2) the average of the four lowest closing bid
prices during the preceding calendar month less $0.125. If for example,  we were
paying the remaining  principal  balance of the  debentures in June,full in December,
2001,  then the  approximate  number of shares we would  have to issue  based on the  formula
would be  3,435,1152,739,130,  or  approximately  56%78% more shares thenthan would be issued on
conversion.conversion in full. Since this alternative is based on market price, there is no
limit on how low the  determined  value  could be.  The  payments  for  October,
November and December 2001 were made through the issuance of 1,357,807 shares of
common stock. No part of the debentures have been converted to date.  Fonar does
retain  the  option,  however,  to pay the  debentures  in cash if they  are not
converted.

14.  The  provisions of the debentures  would subject  Fonar's  stockholders  to
     further dilution if we were to issue common stock at prices below market or
     below the conversion price in the debentures.

     In addition to provisions  providing for  proportionate  adjustments in the
event of stock splits, stock dividends, reverse stock splits and similar events,
the debentures provide for an adjustment of the conversion price if Fonar issues
shares of common  stock at prices  lower than the  conversion  price or the then
prevailing market price. This means that if we need to raise equity financing at
a time  when the  market  price  for  Fonar's  common  stock  is lower  than the
conversion price, or if we need to provide a new equity investor with a discount
from the then prevailing market price, then the conversion price will be reduced
and the dilution to stockholders increased.

15.  The provisions of the warrants provide for reductions in the exercise price
     if we issue  common  stock at prices  below  market  or below  the  warrant
     exercise prices.

     In addition to provisions  providing for  proportionate  adjustments in the
event of stock splits, stock dividends, reverse stock splits and similar events,
the  warrants  provide for a reduction  of the  exercise  price if Fonar  issues
shares of common stock at prices lower than the exercise price or lower than the
then prevailing  market price.  Although theThe number of shares issuable under the warrants
will notwould change in this case in inverse  proportion,  but we would receive less inthe same
amount of proceeds if the warrants were subsequently exercised.exercised in full.


                           FORWARD-LOOKING STATEMENTS

     We make  statements in this  prospectus and the documents  incorporated  by
reference that are considered  forward-looking  statements within the meaning of
the Securities Act of 1933 and the Securities  Exchange Act of 1934. The Private
Securities  Litigation  Reform Act of 1995  contains the safe harbor  provisions
that cover these forward-looking statements. We are including this statement for
purposes  of  complying  with  these  safe  harbor  provisions.  We  base  these
forward-looking  statements on our current  expectations  and projections  about
future  events.  These  forward-looking  statements are not guarantees of future
performance and are subject to risks,  uncertainties and assumptions  including,
among other things:

     -    continued losses and cash flow deficits;

     -    the continued  availability of financing in the amounts,  at the times
          and on the terms required to support our future business;

     -    uncertain market acceptance of our products; and

     -    reliance on key personnel.

     Words  such  as  "expect,"   "anticipate,"   "intend,"  "plan,"  "believe,"
"estimate" and variations of such words and similar  expressions are intended to
identify such forward-looking statements. We undertake no obligation to publicly
update or revise  any  forward-looking  statements,  whether  as a result of new
information,  future events or otherwise.  Because of these risks, uncertainties
and  assumptions,  the  forward-looking  events  discussed  or  incorporated  by
reference in this document may not occur.

                                 USE OF PROCEEDS

     We cannot  guaranteewill not receive any proceeds  from the amountsale by the selling  stockholder
of the proceedscommon stock

                               SELLING STOCKHOLDER

     Pursuant to a stock  subscription  agreement dated January 17, 2001 between
us and eMajix, Inc., we issued and sold to the selling stockholder,  eMajix.com,
183,924 shares of common stock in consideration for 270,000 shares of the common
stock of eMajix.com, Inc.

     The table below presents information  regarding the selling stockholder and
the shares  that it may offer and sell from time to time under this  prospectus.
The table assumes that the selling stockholder sells all of the shares. However,
no  assurances  can be given as to the actual number of shares that will receivebe sold
by the selling stockholder or that will be held by the selling stockholder after
completion of the sales.  Information  concerning  the selling  stockholder  may
change  from time to time and any changed  information  will be  presented  in a
supplement to this prospectus if and when necessary and required.

     Beneficial  ownership is  determined  in  accordance  with the rules of the
Securities and Exchange  Commission that deem shares to be beneficially owned by
any person who has voting or investment power with respect to the shares. Common
stock  issuable upon  conversion of the  debentures or exercise of warrants that
are  currently  convertible,  exercisable  or  exercisable  within  60 days  are
considered to be outstanding and to be beneficially  owned by the person holding
the debentures and warrants for the purpose of computing beneficiary  ownership.
Assuming that the selling stockholders sell all of the shares offered under this
prospectus, the selling stockholders will beneficially own less than one percent
of our outstanding shares of common stock after the completion of this offering.


                             WhetherShares              Shares             Shares
                         Beneficially           Offered          Beneficially
Selling                   Owned Prior           By This          Owned After
Stockholder             to Offering (1)        Prospectus          Offering
- ----------------        ---------------        ----------        ------------

eMajix.com, Inc.         183,924                 183,924               0

Neither the debentures  will be convertedselling stockholder nor any of its affiliates,  officers,  directors
or  principal  equity  holders  has held any  position  or office or has had any
material relationship with us within the warrants  exercised
will depend on the market price for Fonar's common stock.  We have received $4.5
million from the issuance of the debentures.past three years.


                              PLAN OF DISTRIBUTION

     We will not receive any additionalof the proceeds of the sales of these shares.

     WHO MAY SELL AND  APPLICABLE  RESTRICTIONS.  Shares may be offered and sold
directly  by the  selling  stockholder  and  those  persons'  pledgees,  donees,
transferees  or other  successors  in  interest  from any conversions. Whether wetime to time.  The selling
stockholder  could transfer,  devise or gift shares by other means.  The selling
stockholder  may also  resell  all or a portion of their  shares in open  market
transactions  in reliance upon available  exemptions  under the Securities  Act,
such as Rule 144, provided it meets the requirements of these exemptions.

     Alternatively,  the selling  stockholder may from time to time offer shares
through brokers,  dealers or agents.  Brokers,  dealers,  agents or underwriters
participating in transactions may receive any proceedscompensation in the form of discounts,
concessions or  commissions  from the warrants
will depend on the market  price of our common  stock  relative to the  exercise
price under the warrants.

     We intend to use the net  proceeds of this  offering,selling  stockholder  (and, if any,  for general
corporate purposes, including working capital to fund operating losses, expenses
and capital expenditures.  As of the date of this prospectus,  we cannot specify
with certainty the  particular  usesthey act as
agent for the  net proceeds to be received in this
offering.  Accordingly,  our  management  will  have  broad  discretion  in  the
application of any net proceeds received. Pending such uses, we intend to invest
the net proceeds,  if any, from this offering in  short-term,  interest-bearing,
investment grade securities.

                              PLAN OF DISTRIBUTION

     Allpurchaser of the shares,  from that  purchaser).  The  discounts,
concessions or commissions  might be in excess of commonthose customary in the type of
transaction involved.

     The  selling  stockholder  received  the shares in the  ordinary  course of
business pursuant to the stock being offered by this  prospectus will be
issued uponsubscription  agreement.  The selling stockholder
does not have any agreements or understandings, directly or indirectly, with any
person to distribute the conversionsecurities.

     Nevertheless,  the selling  stockholder and any brokers,  dealers or payment of our 4% convertible  debentures due June
30, 2002 or uponagents
who  participate  in  the  exercise of our outstanding  purchase warrants and callable
warrants.

     The  debentures  are  convertible at the optiondistribution  of  the  holder at a priceshares  may  be  deemed  to be
underwriters,  and any profits on the sale of $2.047 per share. Ifshares by them and any  discounts,
commissions  or  concessions  received by any  broker,  dealer or agent might be
deemed to be underwriting discounts and commissions under the holders decideSecurities Act. To
the extent  the  selling  stockholder  may be deemed to be an  underwriter,  the
selling stockholder may be subject to statutory liabilities,  including, but not
limited to,  convert, then we would still have
the right to pay the  debentures  in shares of our common  stock,  but the stock
would be  valued  at the  lesser  of a) 90%Sections 11, 12 and 17 of the  averageSecurities  Act and Rule 10b-5 under
the Securities Exchange Act. These provisions of the four  lowest
closing  bid prices  during the  preceding  month or b) the  average of the four
lowest closing bid prices during the preceding calendar month less $0.125.

     This means that if the holders of the debenture elect not to covert because
the market pricesecurities laws provide, in
general  terms,  for  our common  stock is less than the  conversion  price,  the
selection  of the second  alternative  by Fonar will  resultliability  for fraud,  untrue  statements  contained  in a
significantly
lower  valuation  of our shares and greater  dilution to our  stockholders  than
would be the case in a conversion.

     We received the $4.5 million upon the issuance of the  debentures.  Whether
the debentures are convertedprospectus or we elect to pay the debentures in stock, we will
not receive additional proceeds.

     The  purchase  warrants  cover  959,501  shares of common stock and have an
exercise price of $1.801 per share. The exercise period extends to May 24, 2006.
If all of the purchase warrants are exercised,  we would receive proceeds in the
approximate amount of $1.7 million.

     The callable  warrants  cover  2,000,000  shares of common stock and have a
variable  exercise  price.  Subject to a maximum  price of $6.00 per share and a
minimum  price of $2.00  per  share,  the  exercise  price  will be equal to the
average  closing bid price of Fonar's  common stock for the full calendar  month
preceding  the date of exercise.  The exercise  period  extends to May 24, 2004.
Since the exercise price varies, the amount of proceeds,  if any, which we would
receive cannot be predicted. At the minimum exercise price of $2.00 per share we
would receive proceeds of $4 million.

         No proceeds  can be expected  to be received  from the  exercise of the
warrants  unless  the  market  price  of our  common  stock is  higher  than the
applicable exercise prices.

     No  commissions  are payable by us or the holders of the debentures and the
warrantsotherwise made in connection with a conversionthe sale of securities,  and the
failure  to  disclose  significant  information  which is  necessary  to prevent
information disclosed from being misleading.

     To comply with certain states'  securities laws, if applicable,  the shares
will be sold in such  jurisdictions  only through registered or exercise.

     Welicensed brokers
or dealers. In addition, in certain states the shares may not be sold unless the
shares have been  registered or qualified for sale in that state or an exemption
from registration or qualification is available and is complied with.

     MANNER OF SALES. The selling  stockholder  will act  independently of us in
making  decisions with respect to the optiontiming,  manner and size of redeeming upeach sale. The
shares  may be sold at then  prevailing  market  prices,  at prices  related  to
200,000  callable  warrants per monthprevailing  market prices,  at a price of $0.01 per  underlying  warrant share,  if the average  closing bid
price of Fonar's  common  stock is  greater  than 115%fixed prices or at other negotiated  prices.  The
shares may be sold according to one or more of the warrant  pricefollowing methods.

     A block trade in effectwhich the broker or dealer so engaged will attempt to sell
     the shares as agent but may  position  and resell a portion of the block as
     principal to facilitate the transaction.

     Purchases  by a broker or dealer as  principal  and resale by the broker or
     dealer for five consecutive trading daysits account as allowed under this prospectus.

     Ordinary  brokerage  transactions  and  transactions  in any calendar month. We also havewhich  the  optionbroker
     solicits purchasers.

     Pledges of reducing the exercise  price under the callable  warrantsshares to any lower
exercise price that was previously in effect.

     The debentures and warrants  provide for  proportionate  adjustmentsa broker-dealer or other person, who may, in the event
     of stock splits,  stock  dividendsdefault, purchase or sell the pledged shares.

     An exchange distribution under the rules of the exchange.

     In  private   transactions   between  sellers  and  reverse stock splits.purchasers   without  a
     broker-dealer.

     By writing options.

     Any  combination of the foregoing,  or any other  available means allowable
     under law.

     HEDGING OR SHORT  TRANSACTIONS.  In addition,  the conversionselling  stockholder may
enter into option, derivative, hedging or short transactions with respect to the
shares,  and exercise  prices will be reduced,  with  certain  specified
exceptions,  if we issue shares at lower prices then the debenture conversionany  related  offers  or warrant exercise prices, or less than market price for our common stock.

     The numbersales of  shares  being registered,  bymay be made  under  this
prospectus. For example, the termsselling stockholder may:

     enter  into   transactions   involving   short   sales  of  the  agreementsshares  by
     broker-dealers  in the course of hedging the positions they assume with the
     Tail  Wind Fund is two timesselling stockholders;

     sell shares short itself and deliver the numbershares registered hereby to settle
     such short sales or to close out stock loans  incurred in  connection  with
     its short positions;

     write call options, put options or other derivative  instruments (including
     exchange-traded  options or privately  negotiated  options) with respect to
     the shares, or which it settles through delivery of the shares;

     enter into option  transactions or other types of transactions that require
     the  selling  stockholder  to deliver  shares to a broker,  dealer or other
     financial  institution,  who may then resell or transfer  the shares  under
     this prospectus; or

     loan the shares to a broker, dealer or other financial institution, who may
     sell the loaned shares.

     These option,  derivative,  hedging and short  transactions may require the
delivery to a broker,  dealer or other  financial  institution of shares necessaryoffered
under this prospectus,  and that broker,  dealer or other financial  institution
may resell those shares under this prospectus.

     EXPENSES  ASSOCIATED WITH REGISTRATION.  We have agreed to pay the debentures atexpenses
of registering the lower of the market price, as computedshares under the agreementsSecurities Act,  including  registration and
filing  fees,  printing  expenses,   administrative  expenses,  legal  fees  and
accounting fees. If the shares are sold through  underwriters or conversion price, plusbroker-dealers,
the  number of shares underlyingselling  stockholder  will  be  responsible  for  underwriting   discounts,
underwriting commissions and agent commissions.

     INDEMNIFICATION AND CONTRIBUTION. In the warrants.

     Inregistration rights agreement that
we entered into with the selling  stockholder,  we and the selling  stockholders
agreed to indemnify or provide  contribution  to each other and specified  other
persons against some  liabilities in connection with the issuanceoffering of the debenturesshares,
including liabilities arising under the Securities Act. The selling stockholders
may also agree to The Tail Wind Fund,indemnify  any  broker-dealer  or agent that  participates  in
transactions  involving sales of the shares against some liabilities,  including
liabilities arising under the Securities Act.

     SUSPENSION OF THIS OFFERING.  We may suspend the use of this  prospectus if
we paidlearn of any event that causes this prospectus to include an untrue statement
of material  fact or omit to state a placement  feematerial  fact required to Roan  Meyers,  Inc.be stated in the
amountprospectus or necessary to make the  statements in the prospectus not misleading
in light of $157,500.  In
addition, we issued 300,000 purchase warrantsthe  circumstances  then existing.  If this type of event occurs,  a
prospectus  supplement  or  post-effective   amendment,  if  required,  will  be
distributed  to Roan Meyers, Inc.the selling  stockholder.  Any material  changes in this plan of
distribution will be reflected in a post-effective amendment.

     Computershare  Trust Company,  Inc.,  formerly called  American  Securities
Transfer & Trust, Inc., located at 12039 W. Alameda Parkway, Lakewood,  Colorado
80228, is the transfer agent and registrar for our common stock.


                                  SELLING STOCKHOLDERS

     Assuming that all 9,900,000 shares of common stock are issued to the owners
of the debentures and warrants upon conversion and exercise, the following chart
shows the owners and  certain  other  information.  The chart  assumes  that the
owners will resell all the shares they receive.

Name of                  Shares To Be        Percentage      Shares Beneficially
Beneficial               Beneficially        of  Voting            Owned
Owner                 Owned and Offered         Power          After Offering
- ----------------      -----------------      ----------      -------------------
The Tail Wind             9,600,000            2.65%                  0
Fund Ltd.

Roan Meyers Inc.            300,000            0.09%                  0LEGAL MATTERS

     Certain  legal  matters  with  respect to the  validity of the shares being
offered by the  prospectus  will be passed  upon by Henry T.  Meyer,  Esq.,  110
Marcus Drive, Melville, New York 11747. Mr. Meyer is Fonar's General Counsel.

                                     ExpertsEXPERTS

     The consolidated  financial statements and supplemental financial schedules
contained  in Fonar's  latest  annual  report on Form  10-K,10-K/A,  incorporated  by
reference into this prospectus,  has been examinedaudited by Tabb ConigliaroGrassi & McGann,Co., CPA's,  P.C.,
to the extent set forth in their report. Such financial statements and schedules
were included  therein in reliance upon their reports,  given on their authority
as experts in accounting and auditing.

                                SubsequentMATERIAL CHANGES

     The Company no longer  consolidates any medical practices which it manages.
In 1999, 2000 and 2001, the Company had consolidated  certain medical  practices
managed as a result of the 1998 acquisitions of A & A Services, Inc. and Dynamic
Health Care  Management,  Inc.  The Company  also  previously  consolidated  the
practices  conducted by Superior Medical Services,  P.C. in 1999, 2000 and 2001.
The Company has determined that  consolidation of such medical  practices is not
appropriate because the underlying  management agreements do not meet all of the
six  criteria  of  Emerging  Issues  Task Force  ("EITF")  Consensus  No.  97-2.
Accordingly,  the  consolidated  financial  statements  have been restated.  The
significant effect of such restated financial statements for 1999, 2000 and 2001
has been to their  report,  Tabb
Conigliaro & McGann merged into Grassi & Co., CPA's, P.C.decrease revenue and related costs by $3.7 million, $3.8 million and
$4.2 million  respectively.  In addition,  the balance sheet caption  "Excess of
Cost Over Net  Assets of  Businesses  Acquired - Net" has been  reclassified  to
"Management Agreements - Net".

                                 INDEMNIFICATION

     The Delaware  General  Corporation  Law and Fonar's by-laws provide for the
indemnification  of an officer or director under certain  circumstances  against
reasonable  expenses  incurred  in  connection  with the  defense  of any action
brought  against him by reason of his being a director  or  officer.  Insofar as
indemnification  for  liabilities  arising  under  the  Securities  Act  may  be
permitted to directors,  officers or other persons under Fonar's  by-laws or the
Delaware General Corporation Law, Fonar has been informed that in the opinion of
the Securities and Exchange  Commission such  indemnification  is against public
policy as expressed in the Securities Act and is therefore unenforceable.

                       WHERE YOU CAN FIND MORE INFORMATION

     We file reports, proxy statements and other information with the Securities
and Exchange Commission. Our Securities and Exchange Commission filings are also
available over the Internet at the Securities and Exchange Commission's web site
at  http://www.sec.gov.  You may also read and copy any  document we file at the
Securities and Exchange Commission's public reference rooms in Washington, D.C.,
New  York,  New York and  Chicago,  Illinois.  Please  call the  Securities  and
Exchange  Commission  at  1-800-SEC-0330  for  more  information  on the  public
reference rooms. Our Commission File No. is 0-10248.

                INCORPORATION OF INFORMATION WE FILE WITH THE SEC

     The  Securities  and  Exchange  Commission  allows  us to  "incorporate  by
reference" the information we file with them, which means:

          -    incorporated documents are considered part of this prospectus;

          -    we can disclose important  information to you by referring you to
               those documents; and

          -    information  that  we  file  with  the  Securities  and  Exchange
               Commission   will   automatically   update  and  supersede   this
               prospectus.

     We are  incorporating  by reference the  documents  listed below which were
filed with the Securities and Exchange  Commission under the Securities Exchange
Act of 1934:

          -    AnnualQuarterly  Report on Form 10-K for the year ended June 30, 2000, which was
          filed on September 28, 2000;

     -    Quarterly  report  on Form  10-Q  for the  fiscal  quarter  ended
               March 31,September 30, 2001, which was filed on May 14,November 16, 2001.

          -    Annual  Report on Form  10-K/A for the year ended June 30,  2001,
               which was filed on October 30, 2001;

     We also  incorporate by reference  each of the following  documents that we
will file with the  Securities  and Exchange  Commission  after the date of this
prospectus but before the end of the offering:

          -    Reports  filed  under  Sections  13(a) and (c) of the  Securities
               Exchange Act of 1934;

          -    Definitive proxy or information statements filed under Section 14
               of the  Securities  Exchange Act of 1934 in  connection  with any
               subsequent stockholders' meeting; and

          -    Any reports filed under Section 15(d) of the Securities  Exchange
               Act of 1934.

     You may request a copy of these  filings,  at no cost,  by contacting us at
the following address or phone number:

               Fonar  Corporation
               110  Marcus  Drive
               Melville,  New York 11747
               Attention: Investor Relations


(631) 694-2929

 Part


                                     PART II

                     Information Not Required in prospectusINFORMATION NOT REQUIRED IN PROSPECTUS


ITEM 14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION

The following table sets forth the costs and expenses,  other than  underwriting
discounts and commissions, payable by the Registrant in connection with the sale
of the common  stock being  registered.  All amounts  are  estimates  except the
registration fee.

                                AMOUNT TO BE PAID

SEC Registration Fee                                $     2,362.0261.54
Printing                                               15,000.002,500.00*
Legal Fees and Expenses                                25,000.002,500.00*
Accounting Fees and Expenses                           15,000.002,500.00*
Blue Sky Fees and Expenses                             15,000.002,500.00*
Transfer Agent and Registrar Fees                      5,000.002,500.00*
Miscellaneous                                          1,000.00
                                                                  -----------
  Total...........................................................1,000.00*
                                                     ----------
  Total.............................................$ 78,362.0113,561.54*
                                                    ===========

* estimated

ITEM 15. INDEMNIFICATION OF DIRECTORS AND OFFICERS

     Section  102(b)(7) of the General  Corporation Law of the State of Delaware
(the  "Delaware  Law") grants  corporations  the right to limit or eliminate the
personal  liability of their  directors in certain  circumstances  in accordance
with provisions  therein set forth. Our Certificate of Incorporation  contains a
provision eliminating director liability to us and our stockholders for monetary
damages for breach of  fiduciary  duty as a director.  The  provision  does not,
however,  eliminate or limit the personal  liability of a director:  (i) for any
breach of such  director's duty of loyalty to us or our  stockholders;  (ii) for
acts or omissions not in good faith or which involve intentional misconduct or a
knowing  violation of law; (iii) under the Delaware  statutory  provision making
directors personally liable, for improper payment of dividends or improper stock
purchases or redemptions;  or (iv) for any  transaction  from which the director
derived an improper personal benefit. This provision offers persons who serve on
our Board of Directors  protection  against awards of monetary damages resulting
from breaches of their duty of care (except as indicated  above). As a result of
this provision, our ability or a stockholder's ability to successfully prosecute
an  action  against  a  director  for a breach  of his duty of care is  limited.
However,  the provision does not affect the  availability of equitable  remedies
such as an injunction or rescission  based upon a director's  breach of his duty
of care.  The SEC has taken the position that the provision  will have no effect
on claims arising under federal securities laws.

     Section 145 of the Delaware Law grants  corporations the right to indemnify
their  directors,   officers,  employees  and  agents  in  accordance  with  the
provisions  therein set forth.  Our By-laws provide that the corporation  shall,
subject to limited exceptions, indemnify its directors and executive officers to
the fullest  extent not  prohibited  by the Delaware  Law.  Our By-laws  provide
further  that the  corporation  shall  have the  power to  indemnify  its  other
officers,  employees  and her  agents as set  forth in the  Delaware  Law.  Such
indemnification  rights  permit  reimbursement  for  expenses  incurred  by such
director,  executive officer, other officer, employee or agent in advance of the
final   disposition  of  such  proceeding  in  accordance  with  the  applicable
provisions of the Delaware Law.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors,  officers and  controlling  persons of us
pursuant to these  provisions,  or otherwise,  we have been advised that, in the
opinion of the  Securities  and Exchange  Commission,  such  indemnification  is
against  public  policy  as  expressed  in the  Securities  Act of 1933  and is,
therefore, unenforceable.

     Item 16. Exhibits and Financial Statement Schedules

     Exhibits

     4.1  * Specimen Common Stock Certificate  incorporated  herein by reference
          to Exhibit 4.1 to the Registrant's registration statement on Form S-1,
          Commission File No. 33-13365.

     4.2  * Article Fourth of the Certificate of Incorporation,  as amended,  of
          the  Registrant  incorporated  by  reference  to  Exhibit  4.1  to the
          Registrant's  registration  statement on Form S-8, Commission File No.
          33-62099.

     4.3  * Section A of Article FOURTH of the Certificate of Incorporation,  as
          amended,  of the Registrant. See Exhibits.Registrant,  incorporated by reference to Exhibit 4.3
          to the  Registrant's  registration  statement on Form S-3,  Commission
          File No.333-63782

     4.4  * Form of 4%  Convertible  Debentures  due June 30, 2002  incorporated
          herein by reference to Exhibit 4.1 of the Registrant's  current report
          on For 8-K filed on June 11, 2001. Commission File No. 0-10248.

     4.5  * Form of  Purchase  Warrants  incorporated  herein  by  reference  to
          Exhibit 4.2 of the  Registrant's  current  report on Form 8-K filed on
          June 11, 2001. Commission File No. 0-10248.

     4.6  * Form of  Callable  Warrants  incorporated  herein  by  reference  to
          Exhibit 4.3 of the  Registrant's  current reports on Form 8-K filed on
          June 11, 2001. Commission File No. 0-10248.

     54.7  * Amendments  dated October 25, 2001 to 4% Convertible  Debentures due
          June  30,  2002,  incorporated  by  reference  to  Exhibit  4.7 to the
          Registrant's  registration  statement on Form S-3, Commission file No.
          333-63782.


     5.   Opinion of Counsel re: Legality. See Exhibits.

     10.1 * License Agreement between Fonar and Raymond V. Damadian incorporated
          herein by reference to Exhibit 10 (e) to Form 10-K for the fiscal year
          ended June 30, 1983, Commission File No. 0-10248

     10.2 * 1993 Incentive Stock Option Plan incorporated herein by reference to
          Exhibit 28.1 to the Registrant's  registration  statement on Form S-8,
          Commission File No. 33-60154.

     10.3 *  1997  Non-Statutory   Stock  Option  Plan  incorporated  herein  by
          reference to Exhibit 28.1 to the Registrant's  registration  statement
          on Form S-8, Commission File No.: 333-27411.

     10.4 * 1997 Stock Bonus Plan  incorporated  herein by  reference to Exhibit
          28.2  to  the  Registrant's   registration   statement  on  Form  S-8,
          Commission File No: 333-27411

     10.5 * Stock  Purchase  Agreement,  dated July 31, 1997 by and between U.S.
          Health Management Corporation , Raymond V. Damadian,  M.D. MR Scanning
          Centers  Management  Company  and  Raymond V.  Damadian,  incorporated
          herein by reference to Exhibit 2.1 to the Registrant's  Form 8-K, July
          31, 1997, Commission File No: 0-10248.

     10.6 * Merger Agreement and Supplemental  Agreement dated June 17, 1997 and
          Letter of  Amendment  dated  June 27,  1997 by and among  U.S.  Health
          Management   Corporation  and  Affordable  Diagnostics  Inc.  et  al.,
          incorporated  herein by reference  to Exhibit 2.1 to the  Registrant's
          8-K, June 30, 1997, Commission File No: 0-10248.

     10.7 * Stock  Purchase  Agreement  dated March 20, 1998 by and among Health
          Management  Corporation  of  America,   Fonar  Corporation,   Giovanni
          Marciano,  Glenn  Muraca et al.,  incorporated  herein by reference to
          Exhibit 2.1 to the Registrant's  8-K, March 20, 1998,  Commission File
          No: 0-10248.

     10.8 * Stock Purchase  Agreement  dated August 20, 1998 by and among Health
          Management Corporation of America, Fonar Corporation,  Stuart Blumberg
          and Steven Jonas, incorporated herein by reference to Exhibit 2 to the
          Registrant's 8-K, September 3, 1998, Commission File No. 0-10248.

     10.9 * Purchase  Agreement  dated May 24, 2001 by and between Fonar and The
          Tail Wind Fund Ltd.  incorporated  herein by reference to Exhibit 10.1
          to the  Registrant's  current  report on Form 8-K filed June 11, 2001.
          Commission File No. 0-10248.

     10.10*Registration  Rights Agreement dated May 24, 2001 by and among Fonar,
          The Tail Wind Fund, Ltd. and Roan Meyers, Inc.  incorporated herein by
          reference to Exhibit 10.2 to the  Registrant's  current report on Form
          8-K filed June 11, 2001. Commission File No. 0-10248.

     10.11Stock  Subscription  Agreement  dated January 17, 2001,  between Fonar
          and eMajix.com, Inc.. See Exhibits.

     23.1 Consent of Grassi & Co., CPA's, P.C., Certified Public Accountants. See Exhibits.

     23.2 (Consent of Counsel is included in Exhibit 5).


     *    Exhibits incorporated by reference.

     Financial Statement Schedules

     None

     Item 17. Undertakings

     The  undersigned registrant hereby undertakes:

     (a)  To file,  during any period in which offers or sales are being made, a
          post-effective amendment to this registration statement:

          (i)  To include any  prospectus  required  by section  10(a)(3) of the
               Securities Act of 1933;

          (ii) To reflect in the  prospectus  any facts or events  arising after
               the  effective  date of the  registration  statement (or the most
               recent post-effective  amendment thereof) which,  individually or
               in  the  aggregate,   represent  a  fundamental   change  in  the
               information   set   forth   in   the   registration    statement.
               Notwithstanding the foregoing, any increase or decrease in volume
               of  securities  offered (if the total dollar value of  securities
               offered  would not  exceed  that  which was  registered)  and any
               deviation  from  the low or  high  end of the  estimated  maximum
               offering  range may be reflected in the form of prospectus  filed
               with the Commission pursuant to Rule 424(b) if, in the aggregate,
               the  changes  in volume  and price  represent  no more than a 20%
               change in the maximum  aggregate  offering price set forth in the
               "Calculation  of   Registration   Fee"  table  in  the  effective
               registration statement.

          (iii)To include any material  information  with respect to the plan of
               distribution   not  previously   disclosed  in  the  registration
               statement  or any  material  change  to such  information  in the
               registration statement.

     (b)  That for the purpose of determining any liability under the Securities
          Act of 1933, each such post-effective  amendment shall be deemed to be
          a new  registration  statement  relating  to  the  securities  offered
          therein,  and the  offering of such  securities  at that time shall be
          deemed to be the initial bona fide offering thereof.

     (c)  To remove from registration by means of a post-effective amendment any
          of  the  securities  being  registered  which  remain  unsold  at  the
          termination of the offering.

     The  undersigned  registrant  hereby  undertakes  that, for the purposes of
          determining  any  liability  under the  Securities  Act of 1933,  each
          filing of the registrant's annual report pursuant to section 13 (a) or
          section  15  (d) of the  Securities  Exchange  Act  of  1934  that  is
          incorporated  by  reference  in the  registration  statement  shall be
          deemed to be a new registration  statement  relating to the securities
          offered therein, and the offering of such securities at the time shall
          be deemed to be the initial bona fide offering thereof.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors,  officers and controlling  persons of the
registrant pursuant to the foregoing  provisions,  or otherwise,  the registrant
has been advised that in the opinion of the Securities  and Exchange  Commission
such  indemnification  is against  public policy as expressed in the Act and is,
therefore,  unenforceable. In the event that a claim for indemnification against
such liabilities  (other than the payment by the registrant of expenses incurred
or paid by a director,  officer or  controlling  person of the registrant in the
successful  defense of any  action,  suit or  proceeding)  is  asserted  by such
director,  officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been  settled by  controlling  precedent,  submit to a court of  appropriate
jurisdiction the question whether such  indemnification  by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.






                                   SIGNATURES

     Pursuant to the  requirements of the Securities Act of 1933, the registrant
certifies  that it has  reasonable  grounds to believe  that it meets all of the
requirements  for  filing  on Form S-3 and has  duly  caused  this  registration
statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized, on June 25,December 7, 2001.

Dated:  June 25,December 7, 2001
                                                    FONAR CORPORATION

                              By:            /s/ Raymond V. Damadian
                                             Raymond  V.  Damadian,
                                             President,  Acting Chief  Financial
                                             Officer   and   Acting    Principal
                                             Accounting Officer

                                             Signing   in  his   capacities   as
                                             Principal     Executive    Officer,
                                             Principal   Financial  Officer  and
                                             Principal Accounting Officer

     Pursuant to the requirements of the Securities Act of 1933, this report has
been signed below by the following  persons on behalf of the  registrant  and in
the capacities and on the dates indicated.


Signature                      Title                                Date

                               - -----------------------           -------------------            -------------

/s/ Raymond V. Damadian           Chairman of the Board of
                               Directors, - -----------------------President and a      December 7, 2001
/s/ Raymond V. Damadian        President and a
                                  Director (Principal
June 25,Raymond V. Damadian            Executive Officer, Principal
                               Financial Officer and
                               Principal Accounting Officer)

                                        Director               December 7, 2001
                                  Executive Officer)
/s/ Claudette J.V. Chan
Director                       June 25, 2001
- -----------------------
Claudette J.V. Chan

                                        Director               December 7, 2001
/s/ Robert J. Janoff
Director                       June 25, 2001
- --------------------
Robert J. Janoff

                                        Director               December 7, 2001
/s/ Charles N. O'Data
Director                       June 25, 2001
- ---------------------
Charles N. O'Data
/s/ Luis E. Todd                  Director                       June 25, 2001
- ----------------
Luis E. Todd