Contact Information: Contact: Daniel Culver FONAR Corporation 631-694-2929
FONAR Deemed Compliant With All NASDAQ Capital Market Listing Standards; FONAR Complies With NASDAQ Marketplace Rule 5250(b)(2)
| Source: FONAR Corporation
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.