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Pastimes : Blue Cheap Stock TRADING
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To: BlueCheap who wrote (1072)3/3/1999 1:11:00 PM
From: Gritten  Read Replies (1) of 1078
 
Well, this info looks good. Not the response I would expect though on the stock price.

FONAR Poised for Growth; Expecting to Announce Shortly the Selection of an Investment Banker

MELVILLE, N.Y.--(BUSINESS WIRE)--March 3, 1999--FONAR Corporation
NASDAQ:FONR), The Open MRI Company(tm), reported today that their
present corporate strategy calls for contracting an experienced investment banking firm. The move is expected to assist FONAR in making the investment community aware of the the new MRI technologies amassed by FONAR from its heavy recent investment in R&D that are expected to enhance shareholder value.

Timothy Damadian, President of HMCA, said, "The opportunities open to
HMCA continue to be very promising. The latest financial report showed that revenues grew 58% higher than that of a year earlier. Most important, operating income, excluding amortization of goodwill, was 108% higher. FONAR's recent R&D achievements will only add more growth. We believe we have shown that our strategy works and that our business plan is right on target. The addition of an investment banker at this time in the development of HMCA will most certainly enhance our ability to select and evaluate prospective acquisitions." For FONAR Investor and product information visit our web site - www.fonar.com
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