MELVILLE, NY--(MARKET WIRE)--Dec 1, 2008 -- FONAR Corporation (NasdaqCM:FONR - News), the Inventor of MR Scanning(TM), today announced that The NASDAQ Listing Qualifications Panel (“NASDAQ Panel”) has granted the Company’s request for continued listing 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 the Company’s compliance with the NASDAQ shareholders’ equity requirement of $2.5 million, or demonstrating its compliance with one of the alternative listing criteria. While the Company is taking steps to comply with the terms of the NASDAQ Panel decision, there can be no assurance that the Company will be able to do so.
