Fonar Corporation (NASDAQ:FONR) created the first commercial MRI in 1980. Today, when we think of MRIs we tend to think of the enclosed General Electric (NYSE:GE) or the Siemens (SI) MRIs. But GE and Siemens have nearly always been followers in this field. Fonar even sued GE in 1995 over a patent and won. (In fact, one can see a film shown to the jury about Fonar's MR technology here.)
With the invention of the MRI, Fonar's founder Dr. Damadian has successfully made an irreversible contribution to the world. For that, we thank you. But that didn't translate into easy financial success. We will outline the rocky financial history of the company, keeping in mind...
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