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FONAR Receives Notification from
Nasdaq Regarding MELVILLE,
NEW YORK, December 23, 2005 - FONAR Corporation (NASDAQ-FONR),
The Inventor of MR Scanning™, announced today that it
received written notification from The Nasdaq Stock Market on
December 22, 2005 that the bid price of its common stock for
the last 30 consecutive trading days had closed below the minimum
$1.00 per share required for continued listing under Nasdaq
Marketplace Rule 4310(c)(4) (the "Rule"). Pursuant
to Nasdaq Marketplace Rule 4310(c)(8)(D), the Company has been
provided an initial period of 180 calendar days, or until June
20, 2006, to regain compliance. The notice states the Nasdaq
staff (the "Staff") will provide written notification
that the Company has achieved compliance with the Rule if at
any time before June 20, 2006 the bid price of the Company’s
common stock closes at $1.00 per share or more for a minimum
of 10 consecutive business days. About FONAR FONAR was incorporated in 1978, making it the first, oldest and most experienced MRI manufacturer in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. Since its inception, we have installed nearly 300 MRI scanners worldwide. FONAR's stellar product line includes the Upright™ MRI (also known as the Stand-Up™ MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR Upright™ MRI often sees the patient's problem that other scanners cannot because they are lie-down only. With over 100,000 patients scanned, the patient-friendly Upright™ MRI has a near zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. Our latest MRI scanner is the FONAR 360™, a room-size recumbent scanner that optimizes openness while facilitating physician access to the patient. FONAR is headquartered on Long Island, New York, and has approximately 500 employees. # 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. FONAR™ Corporation
Copyright © 2005 FONAR- All Rights Reserved |
