Nasdaq to hold hearing for Fonar

MRI vendor Fonar of Melville, NY, has been granted a hearing in late August by the Nasdaq Listing Qualifications Panel.

Fonar will ask the stock exchange to continue listing its securities based on the company's plan to solicit proxies and hold its annual meeting.

Earlier this month, Nasdaq notified Fonar that by not holding its annual meeting as scheduled this past June, the company failed to comply with the stock market's annual-meeting statute, and, as a result, would have its securities removed from Nasdaq.

Related Reading

Nasdaq puts Fonar on notice, July 14, 2008

Fonar completes Florida sale, July 1, 2008

Fonar's revenues dip in Q3, May 23, 2008

Fonar advances revenues in Q2, February 19, 2008

Fonar sells second Upright MRI to CDI, January 15, 2008

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