Fonar Corp. (FONR, Financial) filed Amended Annual Report for the period ended 2009-06-30.
Fonar Corp. has a market cap of $27.3 million; its shares were traded at around $2.44 with and P/S ratio of 4.2.
approximately 41.8% of our total revenues and 56.4% of our medical equipment
revenues, as compared to 31.5% of total revenues and 47.6% of medical equipment
revenues in fiscal 2008. These sales show the market penetration being achieved
by the Upright(R) MRI scanner.
MRI takes advantage of the nuclear resonance signal elicited from the body's
tissues and the exceptional sensitivity of this signal for detecting disease.
Much of the serious disease of the body occurs in the soft tissue of vital
organs. The principal diagnostic modality currently in use for detecting
disease, as in the case of x-ray mammography, are diagnostic x-rays. X-rays
discriminate soft tissues, such as healthy breast tissue and cancerous tissue
poorly, because the x-ray particle traverses the various soft tissues almost
equally thereby causing target films to be nearly equally exposed by x-rays
passing through adjacent soft tissues and creating healthy and cancerous shadows
on the film that differ little in brightness. The image contrast between
cancerous and healthy breast tissue is poor, making the detection of breast
cancers by the x-ray mammogram less than optimal and forcing the mammogram to
rely on the presence or absence of microscopic stones called
"microcalcifications" instead of being able to "see" the breast cancer itself.
If microcalcifications are not present to provide the missing contrast, then the
breast cancer goes undetected. They frequently are not present. The maximum
contrast available by x-ray with which to discriminate disease is 4%. Brain
cancers differ from surrounding healthy brain by only 1.6% while the contrast in
the brain by MRI is 25 times greater at 40%. X-ray contrasts among the body's
soft tissues are maximally 4%. Their contrast by MRI is 32.5 times greater
(130%).
The soft tissue contrasts with which to distinguish cancers on images by MRI are
up to 180%. In the case of cancer these contrasts can be even more marked making
cancers readily visible and detectable anywhere in the body. This is because the
nuclear resonance signals from the body's tissues differ so dramatically. Liver
cancer and healthy liver signals differ by 180% for example. Thus there is some
urgency to bring to market an MRI based breast scanner that can overcome the
x-ray limitation and assure that mammograms do not miss serious lesions. The
added benefit of MRI mammography relative to x- ray mammography is the
elimination of the need for the patient to disrobe and the painful compression
of the breast typical of the x-ray mammogram. The patient is scanned in her
street clothes in MRI mammography. Moreover MRI mammogram scans the entire chest
wall including the axilla for the presence of nodes which the x-ray mammogram
cannot reach.
Our areas of operations are principally in the United States. During the fiscal
year ended June 30, 2009, 13.2% of the Company's revenues were generated by
foreign sales, as compared to 2.4% for fiscal 2008.
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Fonar Corp. has a market cap of $27.3 million; its shares were traded at around $2.44 with and P/S ratio of 4.2.
Highlight of Business Operations:
During fiscal 2009, sales of our Upright(R) MRI scanners accounted forapproximately 41.8% of our total revenues and 56.4% of our medical equipment
revenues, as compared to 31.5% of total revenues and 47.6% of medical equipment
revenues in fiscal 2008. These sales show the market penetration being achieved
by the Upright(R) MRI scanner.
MRI takes advantage of the nuclear resonance signal elicited from the body's
tissues and the exceptional sensitivity of this signal for detecting disease.
Much of the serious disease of the body occurs in the soft tissue of vital
organs. The principal diagnostic modality currently in use for detecting
disease, as in the case of x-ray mammography, are diagnostic x-rays. X-rays
discriminate soft tissues, such as healthy breast tissue and cancerous tissue
poorly, because the x-ray particle traverses the various soft tissues almost
equally thereby causing target films to be nearly equally exposed by x-rays
passing through adjacent soft tissues and creating healthy and cancerous shadows
on the film that differ little in brightness. The image contrast between
cancerous and healthy breast tissue is poor, making the detection of breast
cancers by the x-ray mammogram less than optimal and forcing the mammogram to
rely on the presence or absence of microscopic stones called
"microcalcifications" instead of being able to "see" the breast cancer itself.
If microcalcifications are not present to provide the missing contrast, then the
breast cancer goes undetected. They frequently are not present. The maximum
contrast available by x-ray with which to discriminate disease is 4%. Brain
cancers differ from surrounding healthy brain by only 1.6% while the contrast in
the brain by MRI is 25 times greater at 40%. X-ray contrasts among the body's
soft tissues are maximally 4%. Their contrast by MRI is 32.5 times greater
(130%).
The soft tissue contrasts with which to distinguish cancers on images by MRI are
up to 180%. In the case of cancer these contrasts can be even more marked making
cancers readily visible and detectable anywhere in the body. This is because the
nuclear resonance signals from the body's tissues differ so dramatically. Liver
cancer and healthy liver signals differ by 180% for example. Thus there is some
urgency to bring to market an MRI based breast scanner that can overcome the
x-ray limitation and assure that mammograms do not miss serious lesions. The
added benefit of MRI mammography relative to x- ray mammography is the
elimination of the need for the patient to disrobe and the painful compression
of the breast typical of the x-ray mammogram. The patient is scanned in her
street clothes in MRI mammography. Moreover MRI mammogram scans the entire chest
wall including the axilla for the presence of nodes which the x-ray mammogram
cannot reach.
Our areas of operations are principally in the United States. During the fiscal
year ended June 30, 2009, 13.2% of the Company's revenues were generated by
foreign sales, as compared to 2.4% for fiscal 2008.
Read the The complete Report
