MRI vendor Fonar announced that it has regained compliance with all of Nasdaq's market listing standards.
In October of last year, Nasdaq notified Fonar that it was out of compliance with the exchange's minimum $2.5 million stockholders' equity requirement, and the company's stocks were subject to delisting.
At a hearing on February 24, Fonar requested an extension to regain compliance; less than a month later, Nasdaq accepted the request. On May 10, Fonar filed its 10-Q for the quarter ended March 31 and announced that it had raised $6 million, more than sufficient to fulfill the stockholders' equity requirement of $2.5 million, the company said.
