Exhibit 99.1
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FONAR CORPORATION
Fonar MRI news @ aol . com 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:invest2008@fonar.com Fax: (631) 390-1709
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FONAR Receives NASDAQ Notice of Non-compliance
MELVILLE, NEW YORK, July 11, 2008 - FONAR Corporation (NASDAQ-FONR), the
Inventor of MRI Scanning(TM), announced today, that on July 8, 2008, FONAR (the
"Company") received a letter from The NASDAQ Stock Market LLC indicating that
the Company is not in compliance with Marketplace Rules 4350(e) and 4350(g) due
to the fact that it has not yet solicited proxies and held its annual meeting
for the fiscal year ended June 30, 2007. As a result, the notice indicated that
the Company's securities would be subject to delisting from The NASDAQ Capital
Market unless the Company requested a hearing before a NASDAQ Listing
Qualifications Panel. The Company intends to request a hearing at which it will
request continued listing based upon its plan to solicit proxies and hold the
annual meeting. However, there can be no assurance the Panel will grant the
Company's request for continued listing.
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.
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