Fonar - Where is it going? Message Board

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

FONR 14.83

-0.6%

3:34 PM EST

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To: JakeStraw who wrote (19041)	1/10/2004 4:41:49 PM
From: telephonics	Read Replies (1) of 19354

Yes that is well known. But what perhaps is less obviou is that Damadian's ownership of 99+% of the Class C shares gives him total control of the company. Common shareholder votes and any action by his captive board that he does not accept are subject to his dictatorial whim. He can authorize as many shares as he wishes and he may sell tham at whatever price he desires and the funds so raised go into his private bank which you and I call Fonar. Wall Street is very aware and unless Fonar starts to comply with the governance that the SEC is demanding there will be no support for this company from that area. Even the larger funds will stay away under the present arrangements. Damadian's protestations to the common shareholder that he is going to increase their investment values is a joke. Why should he???

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