MRI vendor Fonar of Melville, NY, has received an additional 180 days from the Nasdaq stock exchange to regain compliance with the exchange's listing requirements.
Fonar received the delisting notice in December, with the stock exchange informing the company that it had received the notice because the bid price on its stock had closed below the minimum $1 per share price for the past 30 consecutive trading days. Fonar was given until June 20 to regain compliance.
Fonar said last week that it had received written notification from Nasdaq that it would be provided with an additional 180 calendar days to regain compliance with the minimum bid price requirement.
By AuntMinnie.com staff writers
June 26, 2006
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