NEWS! on FONAR Corp.(FONR)
Fonar is BUYING their STOCK BACK! Stock Price $.90 CENTS.
There is much much more to this story but here are some quick facts.
Fonar has $.75 Cents in CASH, a book value of $1.19,trades on the Small Cap Market. Has $40 Million Plus in CASH
Over 40 MRI patents and won or settled many infringment suits. HAS a large patent infringment suit against Health South for the very same infringment that Fonar won $128.7 Million against General Electric.
In my opinion currently VERY UNDER VALUED stock. Just bringing NEW Technology products to Market. Will make a BIG splash at the world's Largest Radiologist Show to be held the last week in November 1999.
These are my perceptions and here is TODAY's Full Release. If interested read ALL very positive recent news releases.
Regards,
Malolm Lindsey
MELVILLE, N.Y.--(BUSINESS WIRE)--October 15, 1999--FONAR
Corporation (NASDAQ-FONR), The Open MRI Company(tm), announced today that the company is
strengthening its stock re-purchase program. It will purchase its shares on an on-going basis. In addition,
an
employee stock purchase plan is being considered for FONAR employees.
FONAR's management and Board of Directors will make the decisions
as to the timing and the number of shares to be re-purchased.
Raymond Damadian, M.D., president and chairman of FONAR, said, "I
am very pleased with the results of our recently-completed R&D. The images are better than, and the
speeds are faster
than, our other Open MRI competitors. We routinely perform many scans in under 6 minutes while having
superior image
quality and contrast. The superior image quality and the wide-open patient environment of our QUAD(tm)
12000 is an
unbeatable combination in today's market place."
Dr. Damadian, founder of the company and the inventor of MRI,
said "The company has had many accomplishments recently which will turn into sales and
prosperity. Besides the
QUAD(tm) 12000, we have made tremendous progress in our works-in-progress scanners such as The Open
Sky MRI(tm),
FONAR OR-360(0) (tm) (MRI operating room) and The Stand-Up MRI(tm). I predict that we shall
obtain FDA
approval and begin shipping some of these works-in-progess scanners to customers in the year
2000."
Timothy Damadian, president of FONAR's subsidiary Health
Management Corporation of America (HMCA) said, "HMCA has had dynamic growth and profitability
since its
inception, adding approximately $10 million in sales each year."
Be sure to visit FONAR's Web site for Company
product and investor information.
fonar.com |
