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FONAR Receives NASDAQ Notice of Non-compliance
MELVILLE, NEW YORK, July 11, 2008 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, announced today, that on July 8, 2008, FONAR (the “Company”) received a letter from The NASDAQ Stock Market LLC indicating that the Company is not in compliance with Marketplace Rules 4350(e) and 4350(g) due to the fact that it has not yet solicited proxies and held its annual meeting for the fiscal year ended June 30, 2007. As a result, the notice indicated that the Company’s securities would be subject to delisting from The NASDAQ Capital Market unless the Company requested a hearing before a NASDAQ Listing Qualifications Panel. The Company intends to request a hearing at which it will request continued listing based upon its plan to solicit proxies and hold the annual meeting. However, there can be no assurance the Panel will grant the Company’s request for continued listing. # 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
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