Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 24, 2008, Fonar Corporation (the "Company") was notified by The NASDAQ Stock Market LLC that the NASDAQ Listing Qualifications Panel determined to continue the listing of the Company's common stock on The NASDAQ Capital Market, notwithstanding the Company's failure to solicit proxies and hold its annual meeting for the prior fiscal year in a timely manner, as required by Marketplace Rules 4350(g) and 4350(e), respectively. The Company held a combined annual meeting for the current and prior fiscal years on November 17, 2008. Notwithstanding the Panel's decision to continue the Company's listing on The NASDAQ Stock Market, the Panel issued a public reprimand to the Company for failure to hold its annual meeting for the prior fiscal year in a timely manner.

Item 8.01 Other Events: Determination of NASDAQ Hearings Panel.

On November 24, 2008, the Company was notified by The NASDAQ Stock Market LLC that the NASDAQ Listing Qualifications Panel determined to continue the listing of the Company's common stock on The NASDAQ Capital Market, subject to the condition that, on or before January 15, 2009, the Company file a Current Report on Form 8-K with the Securities and Exchange Commission, evidencing shareholders' equity of at least $2.5 million, or demonstrate compliance with one of the alternative listing criteria.

Exhibits

99. Press Release dated December 1, 2008