FONAR Chairman/President Dr. Raymond Damadian and Another Board Member Purchase Company Stock in Open Market
Wednesday February 15, 7:05 am ET
MELVILLE, N.Y.--(BUSINESS WIRE)--Feb. 15, 2006--FONAR Corporation (NASDAQ: FONR - News), The Inventor of MR Scanning(TM), today announced that its Chairman, President and founder Raymond Damadian, M.D., purchased 100,000 shares of FONAR stock in the open market on February 13, 2006. This brings his total ownership to 2,588,274 shares of common stock. Dr. Damadian has not sold a share in more than a decade. In addition to Dr. Damadian, Robert J. Janoff purchased 10,000 shares of FONAR stock in the open market on February 10, 2006. Mr. Janoff is a non-executive and independent member, as defined in the Nasdaq listing rules, of FONAR's Board of Directors. The purchases were made pursuant to the Company's corporate governance guidelines for insider stock purchases. |
