Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 01, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
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 | 5,364,000 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 2,140,000 | $ 2,209,000 |
Restricted cash | 50,000 | 50,000 |
Accounts receivable, net of allowance for doubtful accounts of $100,000 at March 31, 2016 and $100,000 at December 31, 2015 | 3,557,000 | 3,038,000 |
Other receivables | 88,000 | 107,000 |
Prepaid expenses and other current assets | 531,000 | 570,000 |
Total current assets | 6,366,000 | 5,974,000 |
Property and equipment: | ||
Medical equipment and facilities | 83,367,000 | 83,267,000 |
Office equipment | 722,000 | 721,000 |
Deposits and construction in progress | 17,899,000 | 10,796,000 |
Property and equipment | 101,988,000 | 94,784,000 |
Accumulated depreciation and amortization | (49,228,000) | (47,661,000) |
Net property and equipment | 52,760,000 | 47,123,000 |
Investment in equity securities | 579,000 | 579,000 |
Other assets | 382,000 | 366,000 |
Total assets | 60,087,000 | 54,042,000 |
Current liabilities: | ||
Accounts payable | 531,000 | 375,000 |
Employee compensation and benefits | 198,000 | 156,000 |
Other accrued liabilities | 1,052,000 | 1,162,000 |
Current portion of long-term debt | 2,637,000 | 2,641,000 |
Current portion of obligations under capital leases | 4,767,000 | 4,331,000 |
Total current liabilities | 9,185,000 | 8,665,000 |
Long-term debt, less current portion | 5,567,000 | 6,884,000 |
Long-term capital leases, less current portion | 15,697,000 | 9,190,000 |
Deferred revenue, less current portion | 689,000 | 719,000 |
Deferred income taxes | 3,468,000 | 3,404,000 |
Shareholders' equity: | ||
Common stock (10,000,000 authorized; 5,364,000 shares issued and outstanding at March 31, 2016 and December 31, 2015) | 10,376,000 | 10,376,000 |
Additional paid-in capital | 5,793,000 | 5,734,000 |
Retained earnings | 4,071,000 | 4,020,000 |
Total equity-American Shared Hospital Services | 20,240,000 | 20,130,000 |
Non-controlling interest in subsidiary | 5,241,000 | 5,050,000 |
Total shareholders' equity | 25,481,000 | 25,180,000 |
Total liabilities and shareholders' equity | $ 60,087,000 | $ 54,042,000 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Allowance for doubtful accounts (in dollars) | $ 100,000 | $ 100,000 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,364,000 | 5,364,000 |
Common stock, shares outstanding | 5,364,000 | 5,364,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue: | ||
Medical services revenue | $ 4,238,000 | $ 4,117,000 |
Costs of revenue: | ||
Maintenance and supplies | 244,000 | 333,000 |
Depreciation and amortization | 1,562,000 | 1,505,000 |
Other direct operating costs | 699,000 | 682,000 |
Costs of revenue | 2,505,000 | 2,520,000 |
Gross Margin | 1,733,000 | 1,597,000 |
Selling and administrative expense | 949,000 | 821,000 |
Interest expense | 285,000 | 320,000 |
Operating income | 499,000 | 456,000 |
(Loss) on early extinguishment of debt | (108,000) | 0 |
Interest and other income | 5,000 | 6,000 |
Income before income taxes | 396,000 | 462,000 |
Income tax expense | 64,000 | 130,000 |
Net income | 332,000 | 332,000 |
Less: Net income attributable to non-controlling interest | (281,000) | (204,000) |
Net income attributable to American Shared Hospital Services | $ 51,000 | $ 128,000 |
Net income per share: | ||
Earnings per common share - basic | $ 0.01 | $ 0.02 |
Earnings per common share - diluted | $ 0.01 | $ 0.02 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Sub-Total ASHS [Member] | Non-controlling Interest [Member] |
Balances at Dec. 31, 2014 | $ 26,154,000 | $ 10,376,000 | $ 5,508,000 | $ 5,542,000 | $ 21,426,000 | $ 4,728,000 |
Balances (in shares) at Dec. 31, 2014 | 5,361,000 | |||||
Stock based compensation expense | 226,000 | $ 0 | 226,000 | 0 | 226,000 | 0 |
Stock based compensation expense (in shares) | 3,000 | |||||
Non-controlling interest investment in subsidiaries | 46,000 | $ 0 | 0 | 0 | 0 | 46,000 |
Cash distributions to non-controlling interests | (670,000) | 0 | 0 | 0 | 0 | (670,000) |
Net (loss) income | (576,000) | 0 | 0 | (1,522,000) | (1,522,000) | 946,000 |
Balances at Dec. 31, 2015 | 25,180,000 | $ 10,376,000 | 5,734,000 | 4,020,000 | 20,130,000 | 5,050,000 |
Balances (in shares) at Dec. 31, 2015 | 5,364,000 | |||||
Stock based compensation expense | 59,000 | $ 0 | 59,000 | 0 | 59,000 | 0 |
Stock based compensation expense (in shares) | 0 | |||||
Non-controlling interest investment in subsidiaries | 7,000 | $ 0 | 0 | 0 | 0 | 7,000 |
Cash distributions to non-controlling interests | (97,000) | 0 | 0 | 0 | 0 | (97,000) |
Net (loss) income | 332,000 | 0 | 0 | 51,000 | 51,000 | 281,000 |
Balances at Mar. 31, 2016 | $ 25,481,000 | $ 10,376,000 | $ 5,793,000 | $ 4,071,000 | $ 20,240,000 | $ 5,241,000 |
Balances (in shares) at Mar. 31, 2016 | 5,364,000 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating activities: | ||
Net income | $ 332,000 | $ 332,000 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation and amortization | 1,574,000 | 1,517,000 |
(Gain) on sale of assets | (1,000) | 0 |
Loss on early extinguishment of debt | 108,000 | 0 |
Deferred income tax | 64,000 | 0 |
Stock-based compensation expense | 59,000 | 36,000 |
Other non-cash items | 4,000 | 12,000 |
Changes in operating assets and liabilities: | ||
Receivables | (500,000) | (735,000) |
Prepaid expenses and other assets | 22,000 | 9,000 |
Customer deposits/deferred revenue | (78,000) | 17,000 |
Accounts payable and accrued liabilities | 136,000 | 141,000 |
Net cash from operating activities | 1,720,000 | 1,329,000 |
Investing activities: | ||
Payment for purchase of property and equipment | (333,000) | (188,000) |
Net cash used in investing activities | (333,000) | (188,000) |
Financing activities: | ||
Principal payments on long-term debt | (1,439,000) | (401,000) |
Principal payments on capital leases | (1,064,000) | (1,004,000) |
Proceeds from certificate of deposit | 0 | 9,000,000 |
Payments on line of credit | 0 | (8,780,000) |
Capital contributions from non-controlling interests | 7,000 | 0 |
Distributions to non-controlling interests | (97,000) | (88,000) |
Proceeds from capital lease financing for reimbursement of payments for acquisition of equipment | 1,137,000 | 0 |
Net cash used in financing activities | (1,456,000) | (1,273,000) |
Net change in cash and cash equivalents | (69,000) | (132,000) |
Cash and cash equivalents at beginning of period | 2,209,000 | 1,059,000 |
Cash and cash equivalents at end of period | 2,140,000 | 927,000 |
Supplemental cash flow disclosure: | ||
Interest | 515,000 | 438,000 |
Income taxes (refunds) | 96,000 | (5,000) |
Schedule of non-cash investing and financing activities | ||
Acquisition of equipment with capital lease financing | $ 6,870,000 | $ 1,160,000 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
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 only normal recurring accruals) necessary to present fairly American Shared Hospital Services’ consolidated financial position as of March 31, 2016 and the results of its operations for the three month periods ended March 31, 2016 and 2015, which results are not necessarily indicative of results on an annualized basis. Consolidated balance sheet amounts as of December 31, 2015 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, 2015 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 subsidiaries as follows: The Company wholly-owns the subsidiaries OR21, Inc. (“OR21 LLC”), MedLeader.com, Inc. (“MedLeader”), PBRT Orlando, LLC (“Orlando”) and American Shared Radiosurgery Services (“ASRS”). The Company is also the majority owner of Long Beach Equipment, LLC (“LBE”). ASRS is the majority-owner of GK Financing, LLC (“GKF”) which wholly-owns the subsidiaries GK Financing U.K., Limited (“GKUK”), and Instituto de Gamma Knife del Pacifico S.A.C. (“GKPeru”). GKF is also the majority-owner of the subsidiaries Albuquerque GK Equipment, LLC (“AGKE”) and Jacksonville GK Equipment, LLC (“JGKE”). The Company through its majority-owned subsidiary, GKF, provided Gamma Knife units to seventeen medical centers as of March 31, 2016 in the states of Arkansas, California, Oregon, 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 and Orlando to provide proton beam therapy services in Long Beach, California and Orlando, Florida; 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. Orlando treated its first patient in April 2016. GKPeru is expected to begin operation in mid-2016. GKUK is inactive and LBE is not expected to generate revenue within the next two years. The Company continues to develop its design and business model for “The Operating Room for the 21st Century” SM (“OR21” SM 50 50 MedLeader was formed to provide continuing medical education online and through videos for doctors, nurses and other healthcare workers. This subsidiary is not operational at this time. Based on the guidance provided in accordance with Accounting Standards Codification (“ASC”) 280 Segment Reporting On January 14, 2016, the Company entered into a definitive lease agreement for financing of its MEVION S250 at UF Health Cancer Center at Orlando Health. The proceeds of $ 7,900,000 8,400,000 1,000,000 6,700,000 1,137,000 Based on the guidance provided in accordance with ASC 405 Extinguishment of Liabilities Debt Modifications and Extinguishments 108,000 145,000 80,000 28,000 In May 2014, the Financial Accounting Standards Board “(FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers In August 2014, FASB issued ASU No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern In January 2015, the 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 , 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, InterestImputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs The Company adopted ASU 2015-03 on January 1, 2016, on a retrospective basis. Debt issuance costs that were previously recorded as other assets on the Company’s condensed consolidated Balance Sheets were reclassified as an offset to the respective debt instrument for which they were derived. As of March 31, 2016 and December 31, 2015, $ 67,000 72,000 In January 2016, the FASB issued ASU No. 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02 Leases In March 2016, the FASB issued ASU No. 2016-09 Compensation Stock Compensation (Topic 718) |
Per Share Amounts
Per Share Amounts | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Per Share Amounts Per share information has been computed based on the weighted average number of common shares and dilutive common share equivalents outstanding. The computation for the three month periods ended March 31, 2016 and 2015 excluded approximately 617,000 Three Months ended March 31, 2016 2015 Net income attributable to American Shared Hospital Services $ 51,000 $ 128,000 Weighted average common shares for basic earnings per share 5,541,000 5,477,000 Diluted effect of stock options and restricted stock - 49,000 Weighted average common shares for diluted earnings per share 5,541,000 5,526,000 Basic earnings per share $ 0.01 $ 0.02 Diluted earnings per share $ 0.01 $ 0.02 |
Stock-based Compensation
Stock-based Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 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 options 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, for the Company’s options and restricted stock awards, in the amount of $ 59,000 36,000 440,000 Restricted Grant Date Intrinsic Outstanding at January 1, 2016 3,000 $ 2.58 $ - Granted 32,000 $ 1.89 $ - Vested (8,000) $ 1.89 $ - Forfeited - $ - $ - Outstanding at March 31, 2016 27,000 $ 1.97 $ 7000 Stock Grant Date Weighted- Outstanding at January 1, 2016 614,000 $ 2.86 5.10 Granted 3,000 $ 1.90 6.94 Exercised - $ - - Forfeited - $ - - Outstanding at March 31, 2016 617,000 $ 2.85 4.86 Exercisable at March 31, 2016 82,000 $ 2.74 2.69 |
Investment in Equity Securities
Investment in Equity Securities | 3 Months Ended |
Mar. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Cost-method Investments, Description [Text Block] | Investment in Equity Securities As of March 31, 2016 and December 31, 2015 the Company had a $ 579,000 0.46 The Company carries 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 not be recoverable. During the period ended December 31, 2015, the Company determined that its investment was other than temporarily impaired. In determining the fair value of the Company’s common stock in Mevion, the Company engaged a third party expert to review and corroborate its assessment of the fair value of the investment. The third party utilized the market approach and an option waterfall model calibrated to Mevion’s last round of funding. Each equity class was examined and priced according to its liquidation preferences. The fair value of the Company’s investment in Mevion, as of December 31, 2015, was approximately $ 579,000 2,140,000 The Company reviewed this investment at March 31, 2016 in light of both current market conditions and the ongoing needs of Mevion to raise cash to continue its development of the first compact, single room proton beam radiation therapy (“PBRT”) system. Based on its analysis, the Company determined no additional impairment needs to be recognized as of March 31, 2016. 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 in May 2015. The Company’s first MEVION S250 treated its first patient on April 6, 2016. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 5. 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 March 31, 2016 Assets: Cash, cash equivalents, restricted cash $ 2,190 $ - $ - $ 2,190 $ 2,190 Investment in equity securities - - 579 579 579 Total $ 2,190 $ - $ 579 $ 2,769 $ 2,769 Liabilities Debt obligations $ - $ - $ 8,321 $ 8,321 $ 8,204 Total $ - $ - $ 8,321 $ 8,321 $ 8,204 December 31, 2015 Assets: Cash, cash equivalents, restricted cash $ 2,259 $ - $ - $ 2,259 $ 2,259 Investment in equity securities - - 579 579 579 Total $ 2,259 $ - $ 579 $ 2,838 $ 2,838 Liabilities Debt obligations $ - $ - $ 9,744 $ 9,744 $ 9,525 Total $ - $ - $ 9,744 $ 9,744 $ 9,525 |
Repurchase of Common Stock
Repurchase of Common Stock | 3 Months Ended |
Mar. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 6. 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 shares of its own stock on the open market, which the Board reaffirmed in 2008. There were no shares repurchased in 2016 or 2015. There are approximately 72,000 shares remaining under this repurchase authorization. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 7. 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 month periods ended March 31, 2016 and 2015 by applying the actual effective tax rates to income reported within the condensed consolidated financial statements through those periods. |
Per Share Amounts (Tables)
Per Share Amounts (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 month periods ended March 31, 2016 and 2015: Three Months ended March 31, 2016 2015 Net income attributable to American Shared Hospital Services $ 51,000 $ 128,000 Weighted average common shares for basic earnings per share 5,541,000 5,477,000 Diluted effect of stock options and restricted stock - 49,000 Weighted average common shares for diluted earnings per share 5,541,000 5,526,000 Basic earnings per share $ 0.01 $ 0.02 Diluted earnings per share $ 0.01 $ 0.02 |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 unvested restricted stock awards, consisting primarily of annual automatic grants and deferred compensation to non-employee directors, for the three month period ended March 31, 2016: Restricted Grant Date Intrinsic Outstanding at January 1, 2016 3,000 $ 2.58 $ - Granted 32,000 $ 1.89 $ - Vested (8,000) $ 1.89 $ - Forfeited - $ - $ - Outstanding at March 31, 2016 27,000 $ 1.97 $ 7000 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes stock option activity for the three month period ended March 31, 2016: Stock Grant Date Weighted- Outstanding at January 1, 2016 614,000 $ 2.86 5.10 Granted 3,000 $ 1.90 6.94 Exercised - $ - - Forfeited - $ - - Outstanding at March 31, 2016 617,000 $ 2.85 4.86 Exercisable at March 31, 2016 82,000 $ 2.74 2.69 |
Fair Value of Financial Instr16
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 and December 31, 2015 were as follows (in thousands): Level 1 Level 2 Level 3 Total Carrying March 31, 2016 Assets: Cash, cash equivalents, restricted cash $ 2,190 $ - $ - $ 2,190 $ 2,190 Investment in equity securities - - 579 579 579 Total $ 2,190 $ - $ 579 $ 2,769 $ 2,769 Liabilities Debt obligations $ - $ - $ 8,321 $ 8,321 $ 8,204 Total $ - $ - $ 8,321 $ 8,321 $ 8,204 December 31, 2015 Assets: Cash, cash equivalents, restricted cash $ 2,259 $ - $ - $ 2,259 $ 2,259 Investment in equity securities - - 579 579 579 Total $ 2,259 $ - $ 579 $ 2,838 $ 2,838 Liabilities Debt obligations $ - $ - $ 9,744 $ 9,744 $ 9,525 Total $ - $ - $ 9,744 $ 9,744 $ 9,525 |
Basis of Presentation (Details
Basis of Presentation (Details Textual) - USD ($) | Jan. 14, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 |
Debt obligations, Carrying Value | $ 8,204,000 | $ 9,525,000 | ||
Payments to Acquire Property, Plant, and Equipment, Total | 333,000 | $ 188,000 | ||
Loss on early extinguishment of debt | (108,000) | $ 0 | ||
Accounting Standards Update 2015-03 [Member] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 67,000 | $ 72,000 | ||
Notes Payable [Member] | ||||
Debt Instrument, Face Amount | 145,000 | |||
Unamortized discount on Notes | 80,000 | |||
Deferred fees from issuance of Note | $ 28,000 | |||
Mevion Medical Systems Inc [Member] | ||||
Proceeds from Long-term Capital Lease Obligations | $ 7,900,000 | |||
Debt obligations, Carrying Value | 8,400,000 | |||
Repayments of Notes Payable | 1,000,000 | |||
Purchase Commitment, Remaining Minimum Amount Committed | 6,700,000 | |||
Payments to Acquire Property, Plant, and Equipment, Total | $ 1,137,000 | |||
OR21 LLC [Member] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | |||
Architectural Design Company [Member] | ||||
Equity Method Investment, Ownership Percentage | 50.00% |
Per Share Amounts (Details)
Per Share Amounts (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Schedule Of Earnings Per Share Basic And Diluted [Line Items] | ||
Net income attributable to American Shared Hospital Services | $ 51,000 | $ 128,000 |
Weighted average common shares for basic earnings per share | 5,541,000 | 5,477,000 |
Diluted effect of stock options and restricted stock | 0 | 49,000 |
Weighted average common shares for diluted earnings per share | 5,541,000 | 5,526,000 |
Basic earnings per share | $ 0.01 | $ 0.02 |
Diluted earnings per share | $ 0.01 | $ 0.02 |
Per Share Amounts (Details Text
Per Share Amounts (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 617,000 | 617,000 |
Stock-based Compensation (Detai
Stock-based Compensation (Details) - Restricted Stock Units (RSUs) [Member] | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Shareholders Equity [Line Items] | |
Nonvested, Number of Options, Outstanding | shares | 3,000 |
Nonvested, Number of Options, Granted | shares | 32,000 |
Nonvested, Number of Options, Vested | shares | (8,000) |
Nonvested, Number of Options, Forfeited | shares | 0 |
Nonvested, Number of Options, Outstanding | shares | 27,000 |
Weighted Average Grant-Date Fair Value, Nonvested, Outstanding | $ 2.58 |
Weighted Average Grant-Date Fair Value, Nonvested, Granted | 1.89 |
Weighted Average Grant-Date Fair Value, Nonvested, Vested | 1.89 |
Weighted Average Grant-Date Fair Value, Nonvested, Forfeited | 0 |
Weighted Average Grant-Date Fair Value, Nonvested, Outstanding | 1.97 |
Intrinsic Value, Outstanding | 0 |
Intrinsic Value, Granted | 0 |
Intrinsic Value, Vested | 0 |
Intrinsic Value, Forfeited | 0 |
Intrinsic Value, Outstanding | $ 7,000 |
Stock-based Compensation (Det21
Stock-based Compensation (Details 1) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Number of Options, Beginning balance | 614,000 | |
Number of Options, Granted | 3,000 | |
Number of Options, Exercised | 0 | |
Number of Options, Forfeited | 0 | |
Number of Options, Ending balance | 617,000 | 614,000 |
Number of Options, Exercisable | 82,000 | |
Weighted Average Exercise Price, Beginning balance | $ 2.86 | |
Weighted Average Exercise Price, Granted | 1.90 | |
Weighted Average Exercise Price - Exercised | 0 | |
Weighted Average Exercise Price, Forfeited | 0 | |
Weighted Average Exercise Price, Ending balance | 2.85 | $ 2.86 |
Grant Date Weighted Average Exercise Price, Exercisable | $ 2.74 | |
Weighted Average Remaining Contractual Life (Years), Balance | 4 years 10 months 10 days | 5 years 1 month 6 days |
Weighted Average Remaining Contractual Life (Years), Granted | 6 years 11 months 8 days | |
Weighted Average Remaining Contractual Life (Years), Exercisable | 2 years 8 months 8 days |
Stock-based Compensation (Det22
Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Jun. 02, 2010 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share Based Compensation Expense | $ 59,000 | $ 36,000 | |
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 | ||
Share-based Compensation, Compensation Cost Not yet Recognized | $ 440,000 | ||
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 Securiti23
Investment in Equity Securities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Mar. 31, 2016 | |
Schedule of Cost-method Investments [Line Items] | ||
Equity Method Investments | $ 579,000 | $ 579,000 |
Mevion Medical Systems Inc [Member] | ||
Schedule of Cost-method Investments [Line Items] | ||
Equity Method Investments | 579,000 | $ 579,000 |
Equity Method Investment, Ownership Percentage | 0.46% | |
Investments, Fair Value Disclosure | 579,000 | |
Other than Temporary Impairment Losses, Investments | $ 2,140,000 |
Fair Value of Financial Instr24
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets, Carrying Value: | ||
Cash, cash equivalents, restricted cash, Carrying Value | $ 2,190 | $ 2,259 |
Investment in equity securities, Carrying Value | 579 | 579 |
Total, Carrying Value | 2,769 | 2,838 |
Liabilities, Carrying Value | ||
Debt obligations, Carrying Value | 8,204 | 9,525 |
Total, Carrying Value | 8,204 | 9,525 |
Assets, Fair Value: | ||
Cash, cash equivalents, restricted cash, Fair Value | 2,190 | 2,259 |
Investment in equity securities, Fair Value | 579 | 579 |
Total, Fair Value | 2,769 | 2,838 |
Liabilities, Fair Value | ||
Debt obligations, Fair Value | 8,321 | 9,744 |
Total, Fair Value | 8,321 | 9,744 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value: | ||
Cash, cash equivalents, restricted cash, Fair Value | 2,190 | 2,259 |
Investment in equity securities, Fair Value | 0 | 0 |
Total, Fair Value | 2,190 | 2,259 |
Liabilities, Fair Value | ||
Debt obligations, Fair Value | 0 | 0 |
Total, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value: | ||
Cash, cash equivalents, restricted cash, Fair Value | 0 | 0 |
Investment in equity securities, Fair Value | 0 | 0 |
Total, Fair Value | 0 | 0 |
Liabilities, Fair Value | ||
Debt obligations, Fair Value | 0 | 0 |
Total, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value: | ||
Cash, cash equivalents, restricted cash, Fair Value | 0 | 0 |
Investment in equity securities, Fair Value | 579 | 579 |
Total, Fair Value | 579 | 579 |
Liabilities, Fair Value | ||
Debt obligations, Fair Value | 8,321 | 9,744 |
Total, Fair Value | $ 8,321 | $ 9,744 |
Repurchase of Common Stock (Det
Repurchase of Common Stock (Details Textual) - shares | Mar. 31, 2016 | 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 |