SOURCE: FONAR Corporation

FONAR Corporation

October 09, 2009 12:35 ET

FONAR Deemed Compliant With All NASDAQ Capital Market Listing Standards; FONAR Complies With NASDAQ Marketplace Rule 5250(b)(2)

MELVILLE, NY--(Marketwire - October 9, 2009) - FONAR® Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, today announced that the NASDAQ Stock Market has notified FONAR that it complies with all NASDAQ Capital Market continued listing standards. Specifically, the Company satisfies NASDAQ Listing Rule 5550(b)(3) which requires the Company to have a minimum $500,000 of net income from continuing operations in the latest fiscal year.

In the Company's most recent Form 10-K, filed on October 5, 2009, net income from continuing operations was $1.1 million for the fiscal year ended June 30, 2009. (Visit www.fonar.com/news/100509.htm for details.)

This announcement does not represent any change or amendment to the Company's fiscal year 2009 financial statements or to its Annual Report on Form 10-K filed on October 5, 2009; however, FONAR received an audit opinion that expresses doubt about the ability of the Company to continue as a 'going concern' for a reasonable period of time. In accordance with NASDAQ Listing Rule 5250(b)(2), the Company is hereby disclosing receipt of the 'going concern' opinion in a public announcement through the news media.

For investor and other information visit: www.fonar.com.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, pMRI™, Full Range of Motion™, Multi-Position™, The Proof is in the Picture™, Dynamic™, True Flow™, Spondylography™, Spondylometry™ and Upright Radiology™ are trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Daniel Culver
    FONAR Corporation
    631-694-2929
    Email Contact