FONAR CORPORATION
Fonar MRI news @ aol . com The Inventor of MR Scanning
For Immediate Release An ISO 9001 Company
Contact: Daniel Culver, 110 Marcus Drive
Director of Communications Melville, N.Y. 11747
Web site: www.fonar.com Tel: (631) 694-2929
Email: invest @ fonar. com Fax: (631) 390-9540
Contact: Jordan Darrow Tel: (631) 367-1866
Darrow Associates, Inc. jdarrow @ optonline.net
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FONAR Receives Notification from Nasdaq That It Is Being Provided an Additional
180 Calendar Day Compliance Period
Regarding Its Listing on The Nasdaq Capital Market
MELVILLE, NEW YORK - June 23, 2006 -FONAR Corporation (NASDAQ: FONR), The
Inventor of MR Scanning(TM), today announced that, as expected, it received a
written notification from The Nasdaq Stock Market (Nasdaq) on June 21, 2006
regarding its listing on the NASDAQ Capital Market. The letter states that the
Company will now be provided an additional 180 calendar day compliance period to
regain compliance with the minimum bid price requirement.
About FONAR
FONAR(R) was incorporated in 1978, making it the first, oldest and most
experienced MRI manufacturer in the industry. FONAR introduced the world's first
commercial MRI in 1980, and went public in 1981. Since its inception, FONAR has
installed hundreds of MRI scanners worldwide. Their stellar product line
includes the FONAR UPRIGHT(TM) MRI (also known as the Stand-Up(TM) MRI), the
only whole-body MRI that performs Position(TM) imaging (pMRI) and scans patients
in numerous weight- bearing positions, i.e. standing, sitting, in flexion and
extension, as well as the conventional lie-down position. The FONAR UPRIGHT(TM)
MRI often sees the patient's problem that other scanners cannot because they are
lie-down only. With nearly one half million patients scanned, the
patient-friendly FONAR UPRIGHT(TM) MRI has a near zero claustrophobic rejection
rate by patients. A radiologist said, "FONAR UPRIGHT(TM) MRI - No More
Claustrophobia - The Tunnel Is Gone." As another FONAR customer states, "If the
patient is claustrophobic in this scanner, they'll be claustrophobic in my
parking lot." Approximately 85% of patients are scanned sitting while they watch
a 42" flat screen TV. FONAR's latest MRI scanner is the FONAR 360, a room-size
recumbent scanner that optimizes openness while facilitating physician access to
the patient. FONAR is headquartered on Long Island, New York, and has
approximately 400 employees.
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The Inventor of MR Scanning(TM), Stand-Up(TM) MRI, True Flow(TM) MRI, FONAR
UPRIGHT(TM) MRI, Position(TM) MRI, PMRI(TM) and The Proof is in the Picture(TM)
are trademarks of FONAR.
Be sure to visit FONAR's Web site for Company product and investor information:
www.fonar.com
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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
filings with the Securities and Exchange Commission.