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): November 24, 2008
FONAR CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-10248 11-2464137
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
110 Marcus Drive
Melville, New York 11747
(631) 694-2929
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(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 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On November 24, 2008, Fonar Corporation (the "Company") was notified by The
NASDAQ Stock Market LLC that the NASDAQ Listing Qualifications Panel determined
to continue the listing of the Company's common stock on The NASDAQ Capital
Market, notwithstanding the Company's failure to solicit proxies and hold its
annual meeting for the prior fiscal year in a timely manner, as required by
Marketplace Rules 4350(g) and 4350(e), respectively. The Company held a combined
annual meeting for the current and prior fiscal years on November 17, 2008.
Notwithstanding the Panel's decision to continue the Company's listing on The
NASDAQ Stock Market, the Panel issued a public reprimand to the Company for
failure to hold its annual meeting for the prior fiscal year in a timely manner.
Item 8.01 Other Events: Determination of NASDAQ Hearings Panel.
On November 24, 2008, the Company was notified by The NASDAQ Stock Market LLC
that the NASDAQ Listing Qualifications Panel determined to continue the listing
of the Company's common stock on The NASDAQ Capital Market, subject to the
condition that, on or before January 15, 2009, the Company file a Current Report
on Form 8-K with the Securities and Exchange Commission, evidencing
shareholders' equity of at least $2.5 million, or demonstrate compliance with
one of the alternative listing criteria.
Exhibits
99. Press Release dated December 1, 2008
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: December 1, 2008