Fonar has been languishing under $1 for seveal months now. There is a real threat of delisting and much talk going back several years of their eminent closing. The fist is possible but not a big deal if they go bulitan board. The latter is not grounded in reality. True the balance sheet shows cuurent liabilties exceeding assets by several million the nature of this gives me hope. Total debt is around $1Million. The main deficet is advances paid to buy a machine or a service contract. Not on the books are management rights for Nine imaging centers. In the past two years Fonar has sold rights to three of twelve centers they had for over $7million. Fonar hasover 130 upright mri scanners that all eventually get a servce contract. Fonar makes a gross profit of $6Million wich grows every year..
Fonar has a unique product that is gradually becoming accepted due to its cost $1.6Million and its weight ( alot) and fear of Fonar's viability.
I believe Fonar has a future because some top people believe in the machine.
Headquartered in Minneapolis, Center for Diagnostic Imaging (NYSE:CDI) has been a leader in high-quality, cost-effective, outpatient radiology imaging services since 1981, and currently owns and operates 42 diagnostic imaging centers in eight states.
" We’ve purchased a second FONAR UPRIGHT® Multi-Position™ MRI to go into one of our Woodbury outpatient centers in the east metro area,” said Robert Baumgartner, CEO of CDI. “Our ongoing collaboration with NWHSU follows our commitment to provide access to the most comprehensive imaging services for clinicians and patients to meet their unique imaging needs.”
“At CDI, we’re committed to providing patients the right exam at the right time with accurate results. The FONAR Open UPRIGHT® MRI scanner provides certain patients – claustrophobic patients, larger patients or those in need of a Positional MRI – access to the imaging exam needed to accurately diagnose a suspected condition and to guide their care,” said William Mullin, M.D., a spine radiologist at CDI.
FONAR states that the ability of its new MRI technology to fully visualize all body parts, and particularly the spine, in fully weight-loaded Full Range of Motion™ positions, is a key new capability it brings to MRI. The positioning capability of the FONAR scanner permits the MRI operator, with the patient's cooperation, to position the patient in the actual position that engenders his/her symptoms, so that a picture can be taken of the patient’s body part in the exact position that generates his/her symptoms