-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SdMyC5kOwCOiR9Qq2df8aaI4pzDD75qS9W5ZCbhgFUu+3uhtelkCtkWArvbnjedg xfwgG0dZEtu28fYheiFQsA== 0000355019-11-000001.txt : 20110118 0000355019-11-000001.hdr.sgml : 20110117 20110114180924 ACCESSION NUMBER: 0000355019-11-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110114 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing FILED AS OF DATE: 20110118 DATE AS OF CHANGE: 20110114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FONAR CORP CENTRAL INDEX KEY: 0000355019 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 112464137 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10248 FILM NUMBER: 11531322 BUSINESS ADDRESS: STREET 1: 110 MARCUS DR CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 6316942929 MAIL ADDRESS: STREET 1: 110 MARCUS DRIVE CITY: MELVILLE STATE: NY ZIP: 11747 8-K 1 k8-10114.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Act of 1934 Date of Report (Date of earliest event reported): January 11, 2011 FONAR CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 0-10248 11-2464137 - --------------- ---------------- ------------------ - - (State or other (Commission File (I.R.S. Employer jurisdiction of Number) Identification No.) incorporation) 110 Marcus Drive Melville, New York 11747 (631) 694-2929 --------------------------------------------------- (Address, including zip code, and telephone number of registrant's principal executive office) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 3.01(a) Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As announced on October 20, 2010, on October 14, 2010, FONAR Corporation (the "Company") received a letter from The NASDAQ Stock Market LLC ("NASDAQ") indicating that the Company no longer satisfied NASDAQ Listing Rule 5550(b)(2) (the "Rule") given that the Company reported stockholders' equity of less than $2.5 million for the fiscal year ended June 30, 2010. Pursuant to Listing Rule 5800, the Company requested and was granted an extension, through January 7, 2011. On January 11, 2011, the Company received written notification from NASDAQ (the "Staff Determination") that the Company had not complied with the terms of the extension, and accordingly the Company's securities would be delisted and trading suspended unless the Company requested a hearing before a NASDAQ Listing Qualifications Panel (the "NASDAQ Panel"). The Company plans to timely request a hearing before the NASDAQ Panel to address the stockholders' equity deficiency, which will stay any action with respect to the Staff Determination to delist or suspend trading in the Company's securities until the NASDAQ Panel renders a decision subsequent to the hearing. There can be no assurance that the NASDAQ Panel will grant the Company's request for continued listing. A copy of the Company's press release announcing receipt of the Staff Determination is attached hereto as Exhibit 99 and is incorporated herein by reference. Exhibits 99. Press Release dated January 14, 2011 SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FONAR CORPORATION (Registrant) By: /s/ Raymond Damadian Raymond Damadian President and Chairman Dated: January 14, 2011 EX-99 2 x99.txt Exhibit 99 Press Release For Immediate Release FONAR Corporation 110 Marcus Drive Melville, NY 11747 FONAR Receives Letter from NASDAQ MELVILLE, NEW YORK, January 14, 2011 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning(TM), today announced that on January 11, 2011, the Company received a determination letter from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (the "Staff Determination") notifying the Company that, based upon the Company's non-compliance with the $2.5 million stockholders' equity requirement set forth in NASDAQ Listing Rule 5550(b) as of January 7, 2011, the Company's securities were subject to delisting from The NASDAQ Capital Market unless the Company requests a hearing before the NASDAQ Listing Qualifications Panel (the "NASDAQ Panel"). The Company plans to timely request a hearing before the NASDAQ Panel, which will stay any action with respect to the Staff Determination until the Panel renders a decision subsequent to the hearing. There can be no assurance that the Panel will grant the Company's request for continued listing. As previously announced, on October 14, 2010, the Company received notice from the NASDAQ Listing Qualifications Staff that its stockholders' equity was below the minimum requirement for continued listing on The NASDAQ Capital Market. Pursuant to the Listing Rules, the Company requested and was granted an extension, through January 7, 2011. The Company did not meet the terms of the extension by January 7, 2011, which resulted in the issuance of the Staff Determination. # For investor and other information visit: www.fonar.com. 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: Daniel Culver Tel: 631-694-2929 email: investor@fonar.com -----END PRIVACY-ENHANCED MESSAGE-----