American Shared Hospital Services (AMS) 10-Q 19 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 01, 2015
Document Information [Line Items]
Entity Registrant Name	AMERICAN SHARED HOSPITAL SERVICES
Entity Central Index Key	744,825
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	AMS
Entity Common Stock, Shares Outstanding		5,364,147
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 1,798,000	$ 1,059,000
Restricted cash	50,000	50,000
Certificate of deposit	0	9,000,000
Accounts receivable, net of allowance for doubtful accounts of $100,000 at June 30, 2015 and $100,000 at December 31, 2014	3,654,000	3,192,000
Other receivables	123,000	131,000
Prepaid expenses and other current assets	439,000	448,000
Current deferred tax assets	367,000	367,000
Total current assets	6,431,000	14,247,000
Property and equipment:
Medical equipment and facilities	84,600,000	82,151,000
Office equipment	721,000	721,000
Deposits and construction in progress	10,379,000	13,736,000
Property and equipment	95,700,000	96,608,000
Accumulated depreciation and amortization	(46,269,000)	(46,572,000)
Net property and equipment	49,431,000	50,036,000
Investment in equity securities	600,000	2,709,000
Other assets	466,000	536,000
Total assets	56,928,000	67,528,000
Current liabilities:
Accounts payable	289,000	421,000
Employee compensation and benefits	160,000	179,000
Other accrued liabilities	1,301,000	763,000
Current portion of long-term debt	2,848,000	2,005,000
Current portion of obligations under capital leases	4,304,000	4,103,000
Advances on line of credit	0	8,780,000
Total current liabilities	8,902,000	16,251,000
Long-term debt, less current portion	7,811,000	8,586,000
Long-term capital leases, less current portion	11,345,000	12,190,000
Deferred revenue, less current portion	779,000	874,000
Deferred income taxes	3,489,000	3,473,000
Shareholders' equity:
Common stock (5,364,000 shares at June 30, 2015 and 5,361,000 shares at December 31, 2014)	10,376,000	10,376,000
Additional paid-in capital	5,602,000	5,508,000
Retained earnings	3,700,000	5,542,000
Total equity-American Shared Hospital Services	19,678,000	21,426,000
Non-controlling interest in subsidiaries	4,924,000	4,728,000
Total shareholders' equity	24,602,000	26,154,000
Total liabilities and shareholders' equity	$ 56,928,000	$ 67,528,000

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts (in dollars)	$ 100,000	$ 100,000
Common stock, shares issued	5,364,000	5,361,000
Common stock, shares outstanding	5,364,000	5,361,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Medical services revenue	$ 4,394,000	$ 3,379,000	$ 8,511,000	$ 7,443,000
Costs of revenue:
Maintenance and supplies	281,000	451,000	614,000	938,000
Depreciation and amortization	1,593,000	1,606,000	3,098,000	3,217,000
Other direct operating costs	718,000	477,000	1,400,000	1,154,000
Costs of revenue	2,592,000	2,534,000	5,112,000	5,309,000
Gross Margin	1,802,000	845,000	3,399,000	2,134,000
Selling and administrative expense	979,000	937,000	1,800,000	1,859,000
Interest expense	345,000	510,000	665,000	980,000
Operating income (loss)	478,000	(602,000)	934,000	(705,000)
(Loss) on write down investment in equity securities	(2,114,000)	0	(2,114,000)	0
(Loss) on sale of subsidiary	0	(572,000)	0	(572,000)
Gain on foreign currency transactions	0	146,000	0	161,000
Interest and other income	5,000	6,000	11,000	15,000
(Loss) before income taxes	(1,631,000)	(1,022,000)	(1,169,000)	(1,101,000)
Income tax expense	106,000	34,000	236,000	4,000
Net (loss)	(1,737,000)	(1,056,000)	(1,405,000)	(1,105,000)
Less: Net (income) loss attributable to non-controlling interests	(233,000)	129,000	(437,000)	82,000
Net (loss) attributable to American Shared Hospital Services	$ (1,970,000)	$ (927,000)	$ (1,842,000)	$ (1,023,000)
Net (loss) per share:
(Loss) per common share - basic	$ (0.36)	$ (0.2)	$ (0.34)	$ (0.22)
(Loss) per common share - assuming dilution	$ (0.36)	$ (0.2)	$ (0.34)	$ (0.22)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Net (loss) attributable to American Shared Hospital Services	$ (1,842,000)	$ (1,023,000)
Other comprehensive income:
Foreign currency translation adjustments	0	779,000
Less comprehensive (income) attributable to the non-controlling interest	0	(337,000)
Comprehensive (loss) attributable to American Shared Hospital Services, net of tax	$ (1,842,000)	$ (581,000)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Sub-Total ASHS [Member]	Non-controlling Interest [Member]
Balances at Dec. 31, 2013	$ 24,055,000	$ 8,578,000	$ 4,990,000	$ (442,000)	$ 6,494,000	$ 19,620,000	$ 4,435,000
Balances (in shares) at Dec. 31, 2013		4,609,000
Repurchase of common stock	(2,000)	$ (2,000)	0	0	0	(2,000)	0
Repurchase of common stock (in shares)		(1,000)
Stock-based compensation expense	373,000	$ 0	373,000	0	0	373,000	0
Stock based compensation expense (in shares)		3,000
Private placement common stock	1,800,000	$ 1,800,000	0	0	0	1,800,000	0
Private placement common stock (in shares)		750,000
Fair value of warrants issued with promissory notes	145,000	$ 0	145,000	0	0	145,000	0
Non-controlling interest investment in subsidiaries	517,000	0	0	0	0	0	517,000
Cash distributions to non-controlling interests	(951,000)	0	0	0	0	0	(951,000)
Cumulative translation adjustment	779,000	0	0	442,000	0	442,000	337,000
Net (loss) income	(562,000)	0	0	0	(952,000)	(952,000)	390,000
Balances at Dec. 31, 2014	26,154,000	$ 10,376,000	5,508,000	0	5,542,000	21,426,000	4,728,000
Balances (in shares) at Dec. 31, 2014		5,361,000
Stock-based compensation expense	94,000	$ 0	94,000	0	0	94,000	0
Stock based compensation expense (in shares)		3,000
Non-controlling interest investment in subsidiaries	27,000	$ 0	0	0	0	0	27,000
Cash distributions to non-controlling interests	(268,000)	0	0	0	0	0	(268,000)
Net (loss) income	(1,405,000)	0	0	0	(1,842,000)	(1,842,000)	437,000
Balances at Jun. 30, 2015	$ 24,602,000	$ 10,376,000	$ 5,602,000	$ 0	$ 3,700,000	$ 19,678,000	$ 4,924,000
Balances (in shares) at Jun. 30, 2015		5,364,000

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Net (loss)	$ (1,405,000)	$ (1,105,000)
Adjustments to reconcile net (loss) to net cash from operating activities:
Depreciation and amortization	3,124,000	3,292,000
Loss on write down of investment in equity securities	2,114,000	0
Loss on sale of subsidiary	0	572,000
Deferred income tax	16,000	(47,000)
(Gain) on foreign currency transactions	0	(161,000)
Stock-based compensation expense	94,000	46,000
Other non-cash items	24,000	0
Changes in operating assets and liabilities:
Receivables	(454,000)	(86,000)
Prepaid expenses and other assets	64,000	(4,000)
Customer deposits/deferred revenue	(13,000)	(25,000)
Accounts payable and accrued liabilities	305,000	(90,000)
Net cash from operating activities	3,869,000	2,392,000
Investing activities:
Payment for purchase of property and equipment	(1,344,000)	(296,000)
Investment in equity securities	(5,000)	0
Proceeds from sale of subsidiary	0	768,000
Net (used in) from cash from investing activities	(1,349,000)	472,000
Financing activities:
Principal payments on long-term debt	(979,000)	(1,772,000)
Principal payments on capital leases	(1,804,000)	(2,165,000)
Proceeds from long-term debt financing on property and equipment	1,023,000	0
Proceeds from certificate of deposit	9,000,000	0
Advances on line of credit	0	70,000
Payments on line of credit	(8,780,000)	(1,200,000)
Non-controlling interest investment in subsidiaries	27,000	102,000
Cash distributions to non-controlling interests	(268,000)	(434,000)
Common stock Repurchased	0	(2,000)
Private placement common stock	0	1,580,000
Net cash (used in) financing activities	(1,781,000)	(3,821,000)
Effect of changes in foreign exchange rates on cash	0	(8,000)
Net change in cash and cash equivalents	739,000	(965,000)
Cash and cash equivalents at beginning of period	1,059,000	1,909,000
Cash and cash equivalents at end of period	1,798,000	944,000
Supplemental cash flow disclosure:
Cash paid for interest	889,000	1,122,000
Cash paid for income taxes	(6,000)	51,000
Schedule of non-cash investing and financing activities
Acquisition of equipment with capital lease financing	1,160,000	2,732,000
Equipment relieved in sale of subsidiary	0	(4,921,000)
Other assets relieved in sale of subsidiary	0	(826,000)
Debt relieved in sale of subsidiary	0	5,181,000
Other liabilities relieved in sale of subsidiary	0	14,000
Net equity releived in sale of subsidiary	0	1,351,000
OCI released to net income in sale of subsidiary	0	(779,000)
Investment released to net income in sale of subsidiary	$ 0	$ (1,360,000)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Basis of Presentation In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals and entries to record the impairment of the Company’s investment in equity securities and the sale of EWRS Tibbi Cihazlar Ticaret Ltd Sti, “EWRS Turkey”) necessary to present fairly American Shared Hospital Services’ consolidated financial position as of June 30, 2015 and the results of its operations for the three and six month periods ended June 30, 2015 and 2014, which results are not necessarily indicative of results on an annualized basis. Consolidated balance sheet amounts as of December 31, 2014 have been derived from audited consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014 included in the Company’s 10-K filed with the Securities and Exchange Commission. These condensed consolidated financial statements include the accounts of American Shared Hospital Services (the “Company”) and its wholly-owned subsidiaries: OR21, Inc. (“OR21”); MedLeader.com, Inc. (“MedLeader”); and American Shared Radiosurgery Services (“ASRS”); ASRS’ majority-owned subsidiary, GK Financing, LLC (“GKF”); GKF’s wholly-owned subsidiaries, GK Financing U.K., Limited (“GKUK”), Instituto de Gamma Knife del Pacifico S.A.C. (“GKPeru”); ASHS’ majority owned subsidiary, Long Beach Equipment, LLC (“LBE”), GKF’s majority owned subsidiaries, Albuquerque GK Equipment, LLC (“AGKE”), Jacksonville GK Equipment, LLC (“JGKE”) and EWRS, LLC (“EWRS”). EWRS owned 100 The Company through its majority-owned subsidiary, GKF, provided Gamma Knife units to seventeen medical centers as of June 30, 2015 in the states of Arkansas, California, Connecticut, Florida, Illinois, Massachusetts, Mississippi, Nevada, New Jersey, New Mexico, New York, Tennessee, Oklahoma, Ohio, Texas, and Washington. The Company also directly provides radiation therapy and related equipment, including Intensity Modulated Radiation Therapy (“IMRT”), Image Guided Radiation Therapy (“IGRT”) and a CT Simulator to the radiation therapy department at an existing Gamma Knife site in the United States. The Company formed the subsidiaries GKUK and GKPeru, for the purposes of expanding its business internationally into the United Kingdom and Peru; LBE to provide proton beam therapy services in Long Beach, California; and AGKE and JGKE to provide Gamma Knife services in Albuquerque, New Mexico and Jacksonville, Florida. AGKE began operation in the second quarter 2011 and JGKE began operation in the fourth quarter 2011. GKPeru is expected to begin operation in the latter part of 2015/early 2016. GKUK is inactive and LBE is not expected to generate revenue within the next two years. Based on guidance provided in accordance with Accounting Standards Codification (“ASC”) 830, Foreign Currency Matters As of June 10, 2014 EWRS Turkey’s balance sheet accounts were translated at rates in effect as of those dates, respectively, and income and expense accounts were translated at the weighted average rates of exchange during those respective periods. Gains and losses from foreign currency transactions and remeasurement are listed in the Company’s Condensed Consolidated Statements of Operations. The Company recorded a net foreign currency gain of $ 146,000 161,000 Based on guidance provided in accordance with Accounting Standards Update (“ASU”) No. 2014-08 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity Based on guidance provided in accordance with ASU No 2013-05 Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries of Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity 779,000 Based on guidance provided in accordance with ASC 280 Segment Reporting Effective May 31, 2014 (with closing occurring June 10, 2014) the Company sold EWRS Turkey for EUR 4.2 6.0 768,000 572,000 Based on guidance provided in ASC 320 Investments – Debt and Equity Securities Other Than Temporary Impairment (“OTTI”) of Certain Investments in Equity Securities 600,000 2,114,000 In January 2015, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items International Accounting Standards 1, Presentation of Financial Statements In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Per Share Amounts

Per Share Amounts	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 2. Per Share Amounts Three Months ended June 30, Six Months ended June 30, 2015 2014 2015 2014 Net (loss) attributable to American Shared Hospital Services $ (1,970,000) $ (927,000) $ (1,842,000) $ (1,023,000) Weighted average common shares for basic earnings per share 5,484,000 4,718,000 5,480,000 4,718,000 Diluted effect of stock options and restricted stock - - - - Weighted average common shares for diluted earnings per share 5,484,000 4,718,000 5,480,000 4,718,000 Basic (loss) per share $ (0.36) $ (0.20) $ (0.34) $ (0.22) Diluted (loss) per share $ (0.36) $ (0.20) $ (0.34) $ (0.22) Pursuant to GAAP, potentially dilutive common stock equivalents, such as dilutive stock options, are not considered when their inclusion in reporting earnings per share would be dilutive to reported losses incurred per share. Because the Company reported a loss for the three and six month periods ending June 30, 2015 and June 30, 2014, the potentially dilutive effects of approximately 38,000 42,000 of the Company’s stock options and 14,000 15,000 unvested restricted stock units were not considered for the reporting period, respectively.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 3. Stock-based Compensation On June 2, 2010, the Company’s shareholders approved an amendment and restatement of the 2006 Stock Incentive Plan (the “2006 Plan”). Among other things, the amendment and restatement renamed the 2006 Plan to the Incentive Compensation Plan (the “Plan”) and increased the number of shares of the Company’s common stock reserved for issuance under the Plan by an additional 880,000 750,000 1,630,000 Stock-based compensation expense associated with the Company’s stock-based awards to employees is calculated using the Black-Scholes valuation model. The Company’s stock-based awards have characteristics significantly different from those of traded options, and changes in the subjective input assumptions can materially affect the fair value estimates. The estimated fair value of the Company’s option grants is estimated using assumptions for expected life, volatility, dividend yield, and risk-free interest rate which are specific to each award. The estimated fair value of the Company’s options is amortized over the period during which an employee is required to provide service in exchange for the award (requisite service period), usually the vesting period. Accordingly, stock-based compensation cost before income tax effect in the amount of $58,000 and $94,000 is reflected in net income for the three and six month periods ended June 30, 2015, compared to $ 20,000 46,000 Restricted Grant Date Intrinsic Outstanding at January 1, 2015 29,000 $ 2.88 $ - Granted 3,000 $ 2.58 $ - Vested (15,000) $ 2.85 $ - Forfeited - $ - $ - Outstanding at June 30, 2015 17,000 $ 2.84 $ - Stock Grant Date Weighted- Outstanding at January 1, 2015 659,000 $ 3.13 5.57 Granted 12,000 $ 2.58 - Exercised (2,000) $ 2.30 - Forfeited (55,000) $ 5.97 - Outstanding at June 30, 2015 614,000 $ 2.87 6.08 Exercisable at June 30, 2015 82,000 $ 2.74 3.44

Investment in Equity Securities

Investment in Equity Securities	6 Months Ended
	Jun. 30, 2015
Investments, All Other Investments [Abstract]
Cost-method Investments, Description [Text Block]	Note 4. Investment in Equity Securities As of June 30, 2015 and December 31, 2014 the Company had a $ 600,000 2,709,000 5,000,000 The Company has carried its investment in Mevion at cost and reviews it for impairment on a quarterly basis, or as events or circumstances might indicate that the carrying value of the investment may be below its cost basis on an other than temporary impairment basis. The Company evaluated this investment for impairment at December 31, 2014 and reviewed it at June 30, 2015 in light of the length of time and extent to which market value has been below cost, the financial condition and near term prospects of Mevion, current market conditions and events, and our ability and intent to retain our investment for a period sufficient to allow for an anticipated recovery in the market value. On July 27, 2015 Mevion cancelled its planned initial public offering (“IPO”) and announced on August 4, 2015 that it had entered into an investment agreement where up to $ 200 0.56 The Company analyzed the recent events stated above and determined that the cancellation of Mevion’s IPO indicated 600,000 2,114,000 In determining the fair value of the Company’s common stock in Mevion, the Company was able to obtain several common stock estimates based under a probability weighted expected return method (“P-WERM”). The P-WERM analysis considered the probability of several potential outcomes in its determination of a fair value of the Mevion investment. The Company reviewed certain scenarios from the P-WERM analysis as well as additional analyses and estimated the value of its common stock investment in Mevion at approximately $ 600,000 The $2,114,000 other than temporary impairment of its investment in Mevion is recorded in other (loss) on the Company’s Condensed Consolidated Statement of Operations. This transaction is treated as a capital loss for tax purposes which may be deducted only to the extent the Company has capital gains. The Company is not aware of any event or transaction planned where the Company would generate a capital gain. Therefore, a full valuation allowance was recorded against the income tax benefit from the impairment loss, and the net impact to the income tax provision for the three and six month periods ended June 30, 2015 was $ 0 The first MEVION S250, located at Barnes-Jewish Hospital in St. Louis, MO (“Barnes-Jewish Hospital”), treated its first patient on December 19, 2013. The second MEVION S250, located at the Ackerman Cancer Center in Jacksonville, Florida (“Ackerman Cancer Center”), treated its first patient in April 2015. The third MEVION S250, located at Robert Wood Johnson University Hospital in New Brunswick, New Jersey (“Robert Wood Johnson”), started May 2015. The Company’s first MEVION S250 system was delivered to UF Health Cancer Center at Orlando Health in November 2014 and anticipates treating patients in the first quarter 2016.

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 5. Line of Credit As of December 31, 2014, the Company had a $ 9,000,000 December 31, 2014 Borrowing under the line of credit was subject to interest expense at a rate equal to the bank’s prime rate minus 0.5 percentage point, or alternatively at the Company’s discretion, the LIBOR rate plus 1.0 percentage point. The weighted average interest rate on money borrowed against the line of credit during 2014 was 1.40 8,780,000

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 6. Fair Value of Financial Instruments The Company’s disclosures of the fair value of financial instruments is based on a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. Level 1 inputs are unadjusted quoted market prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for assets or liabilities, and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. Level 1 Level 2 Level 3 Total Carrying Value June 30, 2015 Assets: Cash, cash equivalents, restricted cash $ 1,848 $ - $ - $ 1,848 $ 1,848 Investment in equity securities - - 600 600 600 Total $ 1,848 $ - $ 600 $ 2,448 $ 2,448 Liabilities Debt obligations $ - $ 9,564 $ - $ 9,564 $ 10,659 Total $ - $ 9,564 $ - $ 9,564 $ 10,659 December 31, 2014 Assets: Cash, cash equivalents, restricted cash $ 1,109 $ - $ - $ 1,109 $ 1,109 Certificate of deposit 9,000 - - 9,000 9,000 Investment in equity securities - - 330 330 2,709 Total $ 10,109 $ - $ 330 $ 10,439 $ 12,818 Liabilities Advances on line of credit $ 8,780 $ - $ - $ 8,780 $ 8,780 Debt obligations - 10,658 - 10,658 10,591 Total $ 8,780 $ 10,658 $ - $ 19,438 $ 19,371

Repurchase of Common Stock

Repurchase of Common Stock	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 7. Repurchase of Common Stock In 1999 and 2001, the Board of Directors approved resolutions authorizing the Company to repurchase up to a total of 1,000,000 1,000 72,000

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 8. Income Taxes We generally calculate our effective income tax rate at the end of an interim period using an estimate of the annualized effective income tax rate expected to be applicable for the full fiscal year. However, when a reliable estimate of the annualized effective income tax rate cannot be made, we compute our provision for income taxes using the actual effective income tax rate for the results of operations reported within the year-to-date periods. Our effective income tax rate is highly influenced by relative income or losses reported and the amount of the nondeductible stock-based compensation associated with grants of our common stock options and historically from the results of foreign operations. A small change in estimated annual pretax income (loss) can produce a significant variance in the annualized effective income tax rate given the expected amount of these items. As a result, we have computed our provision for income taxes for the three and six month periods ended June 30, 2015 and 2014 by applying the actual effective tax rates to income or (loss) reported within the condensed consolidated financial statements through those periods.

Note, Warrant, & Common Stock P

Note, Warrant, & Common Stock Purchase Agreement	6 Months Ended
	Jun. 30, 2015
Note, Warrant And Common Stock Purchase Agreement [Abstract]
Note, Warrant And Common Stock Purchase Agreement [Text Block]	Note 9. Note, Warrant, & Common Stock Purchase Agreement In June 2014, the Company sold in a private offering, an aggregate of 650,000 1,600,000

Per Share Amounts (Tables)

Per Share Amounts (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted earnings per share for the three and six month periods ended June 30, 2015 and 2014: Three Months ended June 30, Six Months ended June 30, 2015 2014 2015 2014 Net (loss) attributable to American Shared Hospital Services $ (1,970,000) $ (927,000) $ (1,842,000) $ (1,023,000) Weighted average common shares for basic earnings per share 5,484,000 4,718,000 5,480,000 4,718,000 Diluted effect of stock options and restricted stock - - - - Weighted average common shares for diluted earnings per share 5,484,000 4,718,000 5,480,000 4,718,000 Basic (loss) per share $ (0.36) $ (0.20) $ (0.34) $ (0.22) Diluted (loss) per share $ (0.36) $ (0.20) $ (0.34) $ (0.22)

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	The following table summarizes restricted stock awards, consisting primarily of annual automatic grants and deferred compensation to non-employee directors, for the six month period ended June 30, 2015: Restricted Grant Date Intrinsic Outstanding at January 1, 2015 29,000 $ 2.88 $ - Granted 3,000 $ 2.58 $ - Vested (15,000) $ 2.85 $ - Forfeited - $ - $ - Outstanding at June 30, 2015 17,000 $ 2.84 $ -
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes stock option activity for the six month period ended June 30, 2015: Stock Grant Date Weighted- Outstanding at January 1, 2015 659,000 $ 3.13 5.57 Granted 12,000 $ 2.58 - Exercised (2,000) $ 2.30 - Forfeited (55,000) $ 5.97 - Outstanding at June 30, 2015 614,000 $ 2.87 6.08 Exercisable at June 30, 2015 82,000 $ 2.74 3.44

Fair Value of Financial Instr19

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The estimated fair value of the Company’s assets and liabilities as of June 30, 2015 and December 31, 2014 were as follows (in thousands): Level 1 Level 2 Level 3 Total Carrying Value June 30, 2015 Assets: Cash, cash equivalents, restricted cash $ 1,848 $ - $ - $ 1,848 $ 1,848 Investment in equity securities - - 600 600 600 Total $ 1,848 $ - $ 600 $ 2,448 $ 2,448 Liabilities Debt obligations $ - $ 9,564 $ - $ 9,564 $ 10,659 Total $ - $ 9,564 $ - $ 9,564 $ 10,659 December 31, 2014 Assets: Cash, cash equivalents, restricted cash $ 1,109 $ - $ - $ 1,109 $ 1,109 Certificate of deposit 9,000 - - 9,000 9,000 Investment in equity securities - - 330 330 2,709 Total $ 10,109 $ - $ 330 $ 10,439 $ 12,818 Liabilities Advances on line of credit $ 8,780 $ - $ - $ 8,780 $ 8,780 Debt obligations - 10,658 - 10,658 10,591 Total $ 8,780 $ 10,658 $ - $ 19,438 $ 19,371

Basis of Presentation (Details

Basis of Presentation (Details Textual) € in Millions	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	May. 31, 2014USD ($)	May. 31, 2014EUR (€)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Basis Of Presentation [Line Items]
Foreign Currency Transaction Gain, before Tax				$ 146,000		$ 161,000
Proceeds from Divestiture of Interest in Consolidated Subsidiaries					$ 0	768,000
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total							$ 779,000
Other than Temporary Impairment Losses, Investments			$ 2,114,000	$ 0	2,114,000	$ 0
Mevion Medical Systems Inc [Member]
Basis Of Presentation [Line Items]
Investments, Fair Value Disclosure, Total			$ 600,000		600,000
Other than Temporary Impairment Losses, Investments					$ 2,114,000
EWRS Turkey [Member]
Basis Of Presentation [Line Items]
Equity Method Investment, Ownership Percentage			100.00%		100.00%
Sale of EWRS Turkey [Member]
Basis Of Presentation [Line Items]
Proceeds from Divestiture of Interest in Consolidated Subsidiaries					$ 768,000
Divestiture of Subsidiary, Gross Sale value	$ 6,000,000	€ 4.2
Income (Loss) from Subsidiaries, Net of Tax					$ 572,000

Per Share Amounts (Details)

Per Share Amounts (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net (loss) attributable to American Shared Hospital Services	$ (1,970,000)	$ (927,000)	$ (1,842,000)	$ (1,023,000)
Weighted average common shares for basic earnings per share	5,484,000	4,718,000	5,480,000	4,718,000
Diluted effect of stock options and restricted stock	0	0	0	0
Weighted average common shares for diluted earnings per share	5,484,000	4,718,000	5,480,000	4,718,000
Basic (loss) per share	$ (0.36)	$ (0.2)	$ (0.34)	$ (0.22)
Diluted (loss) per share	$ (0.36)	$ (0.2)	$ (0.34)	$ (0.22)

Per Share Amounts (Details Text

Per Share Amounts (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Unvested Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	14,000	15,000	14,000	15,000
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	38,000	42,000	38,000	42,000

Stock-based Compensation (Detai

Stock-based Compensation (Details) - 6 months ended Jun. 30, 2015 - Restricted Stock Units (RSUs) [Member] - $ / shares	Total
Schedule Of Share Based Compensation Restricted Stock Units Award Activity [Line Items]
Outstanding at January 1, 2015	29,000
Granted	3,000
Vested	(15,000)
Forfeited	0
Outstanding at June 30, 2015	17,000
Grant Date Weighted Average Fair Value, Outstanding	$ 2.88
Grant Date Weighted Average Fair Value, Granted	2.58
Grant Date Weighted Average Fair Value, Vested	2.85
Grant Date Weighted Average Fair Value, Forfeited	0
Grant Date Weighted Average Fair Value, Outstanding	2.84
Intrinsic Value, Outstanding	0
Intrinsic Value, Granted	0
Intrinsic Value, Vested	0
Intrinsic Value, Forfeited	0
Intrinsic Value, Outstanding	$ 0

Stock-based Compensation (Det24

Stock-based Compensation (Details 1) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule Of Share Based Compensation Stock Options Activity [Line Items]
Stock Options, Outstanding	659,000
Stock Options, Granted	12,000
Stock Options, Exercised	(2,000)
Stock Options, Forfeited	(55,000)
Stock Options, Outstanding	614,000	659,000
Stock Options, Exercisable	82,000
Grant Date Weighted Average Exercise Price, Outstanding	$ 3.13
Grant Date Weighted Average Exercise Price, Granted	2.58
Grant Date Weighted Average Exercise Price, Exercised	2.30
Grant Date Weighted Average Exercise Price, Forfeited	5.97
Grant Date Weighted Average Exercise Price, Outstanding	2.87	$ 3.13
Grant Date Weighted Average Exercise Price, Exercisable	$ 2.74
Weighted Average Remaining Contractual Life (Years), Balance	6 years 29 days	5 years 6 months 25 days
Weighted Average Remaining Contractual Life (Years), Exercisable	3 years 5 months 8 days

Stock-based Compensation (Det25

Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 02, 2010
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share Based Compensation Expense	$ 58,000	$ 20,000	$ 94,000	$ 46,000
Incentive Compensation Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance					880,000
Incentive Compensation Plan [Member] | Maximum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance					1,630,000
Incentive Compensation Plan [Member] | Minimum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance					750,000

Investment in Equity Securiti26

Investment in Equity Securities (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Aug. 04, 2015	Dec. 31, 2014
Schedule of Cost-method Investments [Line Items]
Equity Method Investments	$ 600,000		$ 600,000			$ 2,709,000
Non Refundable Deposits	5,000,000		5,000,000
Other than Temporary Impairment Losses, Investments	2,114,000	$ 0	2,114,000	$ 0
Valuation Allowance	0		0
Subsequent Event [Member]
Schedule of Cost-method Investments [Line Items]
Equity Method Investment, Ownership Percentage					0.56%
Mevion Medical Systems Inc [Member]
Schedule of Cost-method Investments [Line Items]
Equity Method Investments	600,000		600,000			$ 2,709,000
Investments, Fair Value Disclosure	600,000		600,000
Other than Temporary Impairment Losses, Investments			2,114,000
Mevion Medical Systems Inc [Member] | P WERM [Member]
Schedule of Cost-method Investments [Line Items]
Investments, Fair Value Disclosure	$ 600,000		$ 600,000
Investor [Member] | Subsequent Event [Member]
Schedule of Cost-method Investments [Line Items]
Equity Method Investments					$ 200,000,000

Line of Credit (Details Textual

Line of Credit (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Amount Outstanding		$ 9,000,000
Debt Instrument, Interest Rate Terms	the bank’s prime rate minus 0.5 percentage point, or alternatively at the Company’s discretion, the LIBOR rate plus 1.0 percentage point
Debt, Weighted Average Interest Rate	1.40%
Line of Credit, Current	$ 0	$ 8,780,000
Line of Credit Facility, Expiration Date	Dec. 31, 2014

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets, Carrying Value:
Cash, cash equivalents, restricted cash, Carrying Value	$ 1,848	$ 1,109
Certificate of deposit, Carrying Value		9,000
Investment in equity securities, Carrying Value	600	2,709
Total, Carrying Value	2,448	12,818
Liabilities, Carrying Value
Advances on line of credit, Carrying Value		8,780
Debt obligations, Carrying Value	10,659	10,591
Total, Carrying Value	10,659	19,371
Assets, Fair Value:
Cash, cash equivalents, restricted cash, Fair Value	1,848	1,109
Certificate of deposit, Fair Value		9,000
Investment in equity securities, Fair Value	600	330
Total, Fair Value	2,448	10,439
Liabilities, Fair Value
Advances on line of credit, Fair Value		8,780
Debt obligations, Fair Value	9,564	10,658
Total, Fair Value	9,564	19,438
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value:
Cash, cash equivalents, restricted cash, Fair Value	1,848	1,109
Certificate of deposit, Fair Value		9,000
Investment in equity securities, Fair Value	0	0
Total, Fair Value	1,848	10,109
Liabilities, Fair Value
Advances on line of credit, Fair Value		8,780
Debt obligations, Fair Value	0	0
Total, Fair Value	0	8,780
Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value:
Cash, cash equivalents, restricted cash, Fair Value	0	0
Certificate of deposit, Fair Value		0
Investment in equity securities, Fair Value	0	0
Total, Fair Value	0	0
Liabilities, Fair Value
Advances on line of credit, Fair Value		0
Debt obligations, Fair Value	9,564	10,658
Total, Fair Value	9,564	10,658
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value:
Cash, cash equivalents, restricted cash, Fair Value	0	0
Certificate of deposit, Fair Value		0
Investment in equity securities, Fair Value	600	330
Total, Fair Value	600	330
Liabilities, Fair Value
Advances on line of credit, Fair Value		0
Debt obligations, Fair Value	0	0
Total, Fair Value	$ 0	$ 0

Repurchase of Common Stock (Det

Repurchase of Common Stock (Details Textual) - shares	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2008
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			1,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		72,000
Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Shares	1,000

Note, Warrant, & Common Stock30

Note, Warrant, & Common Stock Purchase Agreement (Details Textual) - USD ($)	1 Months Ended
	Oct. 31, 2014	Jun. 30, 2014
Four Directors [Member]
Note, Warrant And Common Stock Purchase Agreement [Line Items]
Stock Issued During Period, Shares, New Issues	100,000
Proceeds from Issuance of Debt	$ 1,220,000
Private Placement [Member]
Note, Warrant And Common Stock Purchase Agreement [Line Items]
Stock Issued During Period, Shares, New Issues		650,000
Stock Issued During Period, Value, New Issues		$ 1,600,000
Note and Warrant Purchase Agreement [Member]
Note, Warrant And Common Stock Purchase Agreement [Line Items]
Debt Instrument, Term	3 years
Proceeds from Issuance of Common Stock	$ 1,000,000