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In a recent SEC filing, Fonar Corporation (NASDAQ:FONR), a Delaware-incorporated company specializing in electromedical and electrotherapeutic apparatus with a market capitalization of $84.4 million and a "GREAT" financial health rating according to InvestingPro, disclosed the outcomes of its Annual Meeting of Stockholders held on Monday. The meeting, which took place at the Hilton Long Island Huntington Hotel in Melville, New York, addressed several key agenda items, including the election of directors, executive compensation, and auditor ratification.
The stockholders re-elected the existing board of directors for another term. The board comprises Timothy R. Damadian, M.D., Claudette J.V. Chan, Ronald G. Lehman, Richard E. Turk, and Jessica Maher. Additionally, the compensation for the company’s named executive officers received advisory approval from the shareholders. The company’s management has demonstrated commitment to shareholder value through aggressive share buybacks, as noted by InvestingPro analysts.
Another significant outcome from the meeting was the ratification of CohnReznick LLP as Fonar Corporation’s auditors for the fiscal year ending June 30, 2025. The voting results for the directors, executive compensation, and auditor ratification were included in the filing, providing transparency for investors and the public.
The company, which trades under the symbol (NASDAQ:FONR), has confirmed these decisions through the proper channels, as mandated by the Securities and Exchange Act of 1934. The filing, signed by President and CEO Timothy R. Damadian, ensures that Fonar Corporation adheres to regulatory requirements and maintains corporate governance standards. With the company’s next earnings report scheduled for May 22, 2025, investors tracking FONR’s strong financial metrics, including its impressive current ratio of 10.05 and robust free cash flow yield, can access detailed analysis through InvestingPro, which currently identifies the stock as undervalued.
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