0000355019-11-000015.txt : 20110510 0000355019-11-000015.hdr.sgml : 20110510 20110510133517 ACCESSION NUMBER: 0000355019-11-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110509 ITEM INFORMATION: Other Events FILED AS OF DATE: 20110510 DATE AS OF CHANGE: 20110510 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: 11827071 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 fonar_form_8-k.txt FONAR FORM 8K 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): May 9, 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 8.01: Other Events As discussed in our Current Report on Form 8-K filed with the Securities and Exchange Commission on January 18, 2011, we requested a hearing before the Listing Qualifications Panel (the "Panel") of The NASDAQ Stock Market ("NASDAQ"). At the hearing on February 24, 2011, we requested the continued listing of our securities on The NASDAQ Capital Market pursuant to an extension within which to regain compliance with the applicable minimum $2.5 million stockholders' equity requirement for continued listing on NASDAQ, and on March 17, 2011, the Panel granted our request subject to the satisfaction of certain conditions. In accordance with the terms of the Panel's decision, on or before May 11, 2011, we are required to demonstrate compliance with all applicable requirements for continued listing on NASDAQ and, in particular, must publicly announce stockholders' equity of at least $2.5 million and provide the Panel with an update regarding the components of the Company's plan to evidence continued compliance with the minimum stockholders' equity requirement through 2011. In that regard, we believe we satisfy the minimum $2.5 million stockholders' equity threshold as of the date of this filing. The basis for our belief that we satisfy the minimum equity threshold is that we successfully completed an equity offering of $6 million on May 2, 2011, as described in Note 14 (Subsequent Events) to the Financial Statements in our Form 10-Q for the quarter ended March 31, 2011 and in the Liquidity and Capital Resources section of Management's Discussion and Analysis of Financial Condition and Results of Operations. 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: May 10, 2011