Fonar - Where is it going? Message Board

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Microcap & Penny Stocks : Fonar - Where is it going?

FONR 14.75

+0.1%

Nov 14 9:30 AM EST

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To: FRANK ROSSI who wrote (18804)	10/6/2003 7:02:24 AM
From: David C. Burns	Read Replies (2) of 19354

Fonar files to sell 5 mln common shares Reuters, 10.06.03, 6:19 AM ET forbes.com WASHINGTON, Oct 6 (Reuters) - Fonar Corp., (nasdaq: FONR - news - people) which designs and manufactures magnetic resonance imaging (MRI) scanners, filed with U.S. regulators on Monday to sell over time up to 5 million shares of common stock. The New York-based company said it would use expected proceeds for general corporate purposes including working capital to fund operating expenses, accounts payable and capital expenditures, according to the Securities and Exchange Commission filing. A shelf registration gives a company advance regulatory approval to sell securities in one or more separate offerings in amounts, at prices and on terms to be determined at the time of the sale.

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