Fonar enters Nasdaq good graces

October 13, 2009

Dedicated MR vendor Fonar is in compliance with the Nasdaq stock exchange, ending concerns that the company would be delisted.

Fonar enters Nasdaq good graces
Dedicated MR vendor Fonar is in compliance with the Nasdaq stock exchange, ending concerns that the company would be delisted. At issue was whether Fonar satisfied Nasdaq Listing Rule 5550(b)(3), which requires companies on the exchange to have a minimum $500,000 of net income from continuing operations in the latest fiscal year. Fonar’s most recent Form 10-K, filed Oct. 5, showed net income from continuing operations of $1.1 million for the fiscal year ended June 30, 2009.