American Shared Hospital Services (AMS) 10-Q 11 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 03, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		5,367,647

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,764,000	$ 2,209,000
Restricted cash	50,000	50,000
Accounts receivable, net of allowance for doubtful accounts of $100,000 at June 30, 2016 and $100,000 at December 31, 2015	3,840,000	3,038,000
Other receivables	72,000	107,000
Prepaid expenses and other current assets	801,000	603,000
Total current assets	6,527,000	6,007,000
Property and equipment:
Medical equipment and facilities	95,069,000	83,267,000
Office equipment	722,000	721,000
Deposits and construction in progress	6,892,000	10,796,000
Property and equipment	102,683,000	94,784,000
Accumulated depreciation and amortization	(50,883,000)	(47,661,000)
Net property and equipment	51,800,000	47,123,000
Investment in equity securities	579,000	579,000
Other assets	395,000	405,000
Total assets	59,301,000	54,114,000
Current liabilities:
Accounts payable	218,000	375,000
Employee compensation and benefits	275,000	156,000
Other accrued liabilities	1,361,000	1,162,000
Current portion of long-term debt	2,599,000	2,674,000
Current portion of obligations under capital leases	5,124,000	4,331,000
Total current liabilities	9,577,000	8,698,000
Long-term debt, less current portion	4,989,000	6,923,000
Long-term capital leases, less current portion	14,802,000	9,190,000
Deferred revenue, less current portion	663,000	719,000
Deferred income taxes	3,580,000	3,404,000
Shareholders' equity:
Common stock (10,000,000 authorized; 5,368,000 shares issed and outstanding at June 30, 2016 and 5,364,000 shares at December 31, 2015)	10,376,000	10,376,000
Additional paid-in capital	5,853,000	5,734,000
Retained earnings	4,164,000	4,020,000
Total equity-American Shared Hospital Services	20,393,000	20,130,000
Non-controlling interest in subsidiaries	5,297,000	5,050,000
Total shareholders' equity	25,690,000	25,180,000
Total liabilities and shareholders' equity	$ 59,301,000	$ 54,114,000

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)	Jun. 30, 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	5,368,000	5,364,000
Common stock, shares outstanding	5,368,000	5,364,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Medical services revenue	$ 4,518,000	$ 4,394,000	$ 8,756,000	$ 8,511,000
Costs of revenue:
Maintenance and supplies	250,000	281,000	494,000	614,000
Depreciation and amortization	1,649,000	1,593,000	3,211,000	3,098,000
Other direct operating costs	780,000	718,000	1,479,000	1,400,000
Costs of revenue	2,679,000	2,592,000	5,184,000	5,112,000
Gross Margin	1,839,000	1,802,000	3,572,000	3,399,000
Selling and administrative expense	963,000	979,000	1,912,000	1,800,000
Interest expense	433,000	345,000	718,000	665,000
Operating income	443,000	478,000	942,000	934,000
(Loss) on write down investment in equity securities	0	(2,114,000)	0	(2,114,000)
(Loss) on early extinguishment of debt	0	0	(108,000)	0
Interest and other income	3,000	5,000	8,000	11,000
Income (loss) before income taxes	446,000	(1,631,000)	842,000	(1,169,000)
Income tax expense	93,000	106,000	157,000	236,000
Net income (loss)	353,000	(1,737,000)	685,000	(1,405,000)
Less: Net (income) attributable to non-controlling interests	(260,000)	(233,000)	(541,000)	(437,000)
Net income (loss) attributable to American Shared Hospital Services	$ 93,000	$ (1,970,000)	$ 144,000	$ (1,842,000)
Net income (loss) per share:
Earnings (loss) per common share - basic	$ 0.02	$ (0.36)	$ 0.03	$ (0.34)
Earnings (loss) per common share - diluted	$ 0.02	$ (0.36)	$ 0.03	$ (0.34)

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	119,000	$ 0	119,000	0	119,000	0
Stock based compensation expense (in shares)		4,000
Non-controlling interest investment in subsidiaries	7,000	$ 0	0	0	0	7,000
Cash distributions to non-controlling interests	(301,000)	0	0	0	0	(301,000)
Net (loss) income	685,000	0	0	144,000	144,000	541,000
Balances at Jun. 30, 2016	$ 25,690,000	$ 10,376,000	$ 5,853,000	$ 4,164,000	$ 20,393,000	$ 5,297,000
Balances (in shares) at Jun. 30, 2016		5,368,000

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities:
Net income (loss)	$ 685,000	$ (1,405,000)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	3,234,000	3,124,000
(Gain) on sale of assets	(1,000)	0
Loss on write down of investment in equity securities	0	2,114,000
Loss on early extinguishment of debt	108,000	0
Deferred income tax	176,000	16,000
Stock-based compensation expense	119,000	94,000
Other non-cash items	4,000	24,000
Changes in operating assets and liabilities:
Receivables	(767,000)	(454,000)
Prepaid expenses and other assets	(262,000)	64,000
Customer deposits/deferred revenue	(108,000)	(13,000)
Accounts payable and accrued liabilities	213,000	305,000
Net cash from operating activities	3,401,000	3,869,000
Investing activities:
Payment for purchase of property and equipment	(575,000)	(1,344,000)
Investment in equity securities	0	(5,000)
Net cash (used in) investing activities	(575,000)	(1,349,000)
Financing activities:
Principal payments on long-term debt	(2,059,000)	(979,000)
Principal payments on capital leases	(2,055,000)	(1,804,000)
Proceeds from long-term debt financing on property and equipment	0	1,023,000
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	27,000
Distributions to non-controlling interests	(301,000)	(268,000)
Proceeds from capital lease financing for reimbursement of payments for acquisition of equipment	1,137,000	0
Net cash (used in) financing activities	(3,271,000)	(1,781,000)
Net change in cash and cash equivalents	(445,000)	739,000
Cash and cash equivalents at beginning of period	2,209,000	1,059,000
Cash and cash equivalents at end of period	1,764,000	1,798,000
Supplemental cash flow disclosure:
Interest	1,066,000	889,000
Income taxes paid (refunds)	97,000	(6,000)
Schedule of non-cash investing and financing activities
Acquisition of equipment with capital lease financing	$ 7,401,000	$ 1,160,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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 normal recurring accruals and entries to record the impairment of the Company’s investment in equity securities) necessary to present fairly American Shared Hospital Services’ consolidated financial position as of June 30, 2016 and the results of its operations for the three and six month periods ended June 30, 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 June 30, 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 through its wholly-owned subsidiary, Orlando, provided proton beam radiation therapy (“PBRT”) and related equipment, to a new customer in the United States, which treated its first patient during the second quarter of 2016. 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 of 2011 and JGKE began operation in the fourth quarter of 2011. Orlando treated its first patient in April 2016. GKPeru is expected to begin operation in the second half of 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 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 (“Orlando Health”). The proceeds of $ 8,200,000 8,400,000 1,000,000 7,100,000 1,137,000 Based on the guidance provided in accordance with ASC 405 Extinguishment of Liabilities Debt Modifications and Extinguishments 145,000 80,000 28,000 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 During the period ended December 31, 2015, the Company engaged a third party expert to review and corroborate its assessment of the fair value of the Mevion investment. Based on the third party analysis, an additional impairment loss of $ 26,000 579,000 2,140,000 Based on the guidance provided in ASC 410 Asset Retirement Obligations 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, Interest—Imputation 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. During the six month period ended June 30, 2016 and as of 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) In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments As of June 30, 2016, the Company adopted a new accounting policy for the depreciation of PBRT property and equipment. Property and equipment are stated at cost less accumulated depreciation. Depreciation is determined using the modified units of production method, which is a function of both usage and time of the equipment. The estimated useful life of the PBRT unit in Orlando is 10

Per Share Amounts

Per Share Amounts	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 2. 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 and six month periods ended June 30, 2016 excluded approximately 605,000 627,000 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, the potentially dilutive effects of approximately 38,000 14,000 Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Net income (loss) attributable to American Shared Hospital Services $ 93,000 $ (1,970,000) $ 144,000 $ (1,842,000) Weighted average common shares for basic earnings per share 5,552,000 5,484,000 5,548,000 5,480,000 Diluted effect of stock options and restricted stock 16,000 - 16,000 - Weighted average common shares for diluted earnings per share 5,568,000 5,484,000 5,564,000 5,480,000 Basic earnings (loss) per share $ 0.02 $ (0.36) $ 0.03 $ (0.34) Diluted earnings (loss) per share $ 0.02 $ (0.36) $ 0.03 $ (0.34)

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2016
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 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 $ 60,000 119,000 58,000 94,000 416,000 Restricted Grant Date Intrinsic Outstanding at January 1, 2016 3,000 $ 2.58 $ - Granted 35,000 $ 1.94 $ - Vested (16,000) $ 1.89 $ - Forfeited - $ - $ - Outstanding at June 30, 2016 22,000 $ 2.06 $ - Stock Grant Date Weighted- Outstanding at January 1, 2016 614,000 $ 2.86 5.10 Granted 20,000 $ 2.19 6.93 Exercised - $ - - Forfeited (4,000) $ 2.10 - Outstanding at June 30, 2016 630,000 $ 2.85 4.68 Exercisable at June 30, 2016 90,000 $ 2.75 3.00

Investment in Equity Securities

Investment in Equity Securities	6 Months Ended
	Jun. 30, 2016
Investments, All Other Investments [Abstract]
Cost-method Investments, Description [Text Block]	Note 4. Investment in Equity Securities As of June 30, 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 June 30, 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 PBRT system. Based on its analysis, the Company determined no additional impairment needs to be recognized as of June 30, 2016. The Company’s first MEVION S250 PBRT unit was contracted with Orlando Health, Inc. under a ten (10) year, revenue sharing arrangement. The Marjorie and Leonard Williams Center for Proton Therapy at Orlando Health treated its first patient on April 6, 2016.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 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 June 30, 2016 Assets: Cash, cash equivalents, restricted cash $ 1,814 $ - $ - $ 1,814 $ 1,814 Investment in equity securities - - 579 579 579 Total $ 1,814 $ - $ 579 $ 2,393 $ 2,393 Liabilities: Debt obligations $ - $ - $ 7,662 $ 7,662 $ 7,588 Total $ - $ - $ 7,662 $ 7,662 $ 7,588 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 $ 9,597 Total $ - $ - $ 9,744 $ 9,744 $ 9,597

Repurchase of Common Stock

Repurchase of Common Stock	6 Months Ended
	Jun. 30, 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 72,000

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 7. Income Taxes The Company generally calculates its 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, the Company computes its provision for income taxes using the actual effective income tax rate for the results of operations reported within the year-to-date periods. The Company’s 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 its 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, the Company has computed its provision for income taxes for the three and six month periods ended June 30, 2016 and 2015 by applying the actual effective tax rates to income or (loss) reported within the condensed consolidated financial statements through those periods.

Per Share Amounts (Tables)

Per Share Amounts (Tables)	6 Months Ended
	Jun. 30, 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 and six month periods ended June 30, 2016 and 2015: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Net income (loss) attributable to American Shared Hospital Services $ 93,000 $ (1,970,000) $ 144,000 $ (1,842,000) Weighted average common shares for basic earnings per share 5,552,000 5,484,000 5,548,000 5,480,000 Diluted effect of stock options and restricted stock 16,000 - 16,000 - Weighted average common shares for diluted earnings per share 5,568,000 5,484,000 5,564,000 5,480,000 Basic earnings (loss) per share $ 0.02 $ (0.36) $ 0.03 $ (0.34) Diluted earnings (loss) per share $ 0.02 $ (0.36) $ 0.03 $ (0.34)

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 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 restricted stock awards, consisting primarily of annual automatic grants and deferred compensation to non-employee directors, for the six month period ended June 30, 2016: Restricted Grant Date Intrinsic Outstanding at January 1, 2016 3,000 $ 2.58 $ - Granted 35,000 $ 1.94 $ - Vested (16,000) $ 1.89 $ - Forfeited - $ - $ - Outstanding at June 30, 2016 22,000 $ 2.06 $ -
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, 2016: Stock Grant Date Weighted- Outstanding at January 1, 2016 614,000 $ 2.86 5.10 Granted 20,000 $ 2.19 6.93 Exercised - $ - - Forfeited (4,000) $ 2.10 - Outstanding at June 30, 2016 630,000 $ 2.85 4.68 Exercisable at June 30, 2016 90,000 $ 2.75 3.00

Fair Value of Financial Instr16

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016 and December 31, 2015 were as follows (in thousands): Level 1 Level 2 Level 3 Total Carrying June 30, 2016 Assets: Cash, cash equivalents, restricted cash $ 1,814 $ - $ - $ 1,814 $ 1,814 Investment in equity securities - - 579 579 579 Total $ 1,814 $ - $ 579 $ 2,393 $ 2,393 Liabilities: Debt obligations $ - $ - $ 7,662 $ 7,662 $ 7,588 Total $ - $ - $ 7,662 $ 7,662 $ 7,588 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 $ 9,597 Total $ - $ - $ 9,744 $ 9,744 $ 9,597

Basis of Presentation (Details

Basis of Presentation (Details Textual) - USD ($)	Jan. 14, 2016	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Proceeds from Long-term Capital Lease Obligations					$ 1,137,000	$ 0
Debt obligations, Carrying Value		$ 7,588,000	$ 9,597,000		7,588,000		$ 9,597,000
Payments to Acquire Property, Plant, and Equipment, Total					575,000	1,344,000
Loss on early extinguishment of debt		0		$ 0	(108,000)	0
Other than Temporary Impairment Losses, Investments		0		2,114,000	$ 0	2,114,000
Property, Plant and Equipment, Useful Life					10 years
Equity Method Investment, Other than Temporary Impairment			26,000
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		$ 67,000		72,000
Notes Payable [Member]
Loss on early extinguishment of debt					(108,000)
Debt Instrument, Face Amount		145,000			145,000
Unamortized discount on Notes		80,000			80,000
Deferred fees from issuance of Note					28,000
Mevion Medical Systems Inc [Member]
Proceeds from Long-term Capital Lease Obligations	$ 8,200,000
Debt obligations, Carrying Value	8,400,000
Repayments of Notes Payable	1,000,000
Purchase Commitment, Remaining Minimum Amount Committed	7,100,000
Payments to Acquire Property, Plant, and Equipment, Total	$ 1,137,000
Investments, Fair Value Disclosure, Total		$ 579,000	$ 579,000	$ 600,000	$ 579,000	600,000	579,000
Other than Temporary Impairment Losses, Investments						$ 2,114,000	$ 2,140,000
OR21 LLC [Member]
Equity Method Investment, Ownership Percentage		50.00%			50.00%
Architectural Design Company [Member]
Equity Method Investment, Ownership Percentage		50.00%			50.00%

Per Share Amounts (Details)

Per Share Amounts (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income (loss) attributable to American Shared Hospital Services	$ 93,000	$ (1,970,000)	$ 144,000	$ (1,842,000)
Weighted average common shares for basic earnings per share	5,552,000	5,484,000	5,548,000	5,480,000
Diluted effect of stock options and restricted stock	16,000	0	16,000	0
Weighted average common shares for diluted earnings per share	5,568,000	5,484,000	5,564,000	5,480,000
Basic earnings (loss) per share	$ 0.02	$ (0.36)	$ 0.03	$ (0.34)
Diluted earnings (loss) per share	$ 0.02	$ (0.36)	$ 0.03	$ (0.34)

Per Share Amounts (Details Text

Per Share Amounts (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	605,000		627,000
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		38,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		14,000		14,000

Stock-based Compensation (Detai

Stock-based Compensation (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Shareholders Equity [Line Items]
Nonvested, Number of Options, Outstanding | shares	3,000
Nonvested, Number of Options, Granted | shares	35,000
Nonvested, Number of Options, Vested | shares	(16,000)
Nonvested, Number of Options, Forfeited | shares	0
Nonvested, Number of Options, Outstanding | shares	22,000
Weighted Average Grant-Date Fair Value, Nonvested, Outstanding	$ 2.58
Weighted Average Grant-Date Fair Value, Nonvested, Granted	1.94
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	2.06
Intrinsic Value, Outstanding	0
Intrinsic Value, Granted	0
Intrinsic Value, Vested	0
Intrinsic Value, Forfeited	0
Intrinsic Value, Outstanding	$ 0

Stock-based Compensation (Det21

Stock-based Compensation (Details 1) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 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	20,000
Number of Options, Exercised	0
Number of Options, Forfeited	(4,000)
Number of Options, Ending balance	630,000	614,000
Number of Options, Exercisable	90,000
Weighted Average Exercise Price, Beginning balance	$ 2.86
Weighted Average Exercise Price, Granted	2.19
Weighted Average Exercise Price, Exercised	0
Weighted Average Exercise Price, Forfeited	2.1
Weighted Average Exercise Price, Ending balance	2.85	$ 2.86
Grant Date Weighted Average Exercise Price, Exercisable	$ 2.75
Weighted Average Remaining Contractual Life (Years), Balance	4 years 8 months 5 days	5 years 1 month 6 days
Weighted Average Remaining Contractual Life (Years), Granted	6 years 11 months 5 days
Weighted Average Remaining Contractual Life (Years), Exercisable	3 years

Stock-based Compensation (Det22

Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 02, 2010
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share Based Compensation Expense	$ 60,000	$ 58,000	$ 119,000	$ 94,000
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	$ 416,000		$ 416,000
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 ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Cost-method Investments [Line Items]
Equity Method Investments	$ 579,000		$ 579,000		$ 579,000
Other than Temporary Impairment Losses, Investments	0	$ 2,114,000	0	$ 2,114,000
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%		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	Jun. 30, 2016	Dec. 31, 2015
Assets, Carrying Value:
Cash, cash equivalents, restricted cash, Carrying Value	$ 1,814	$ 2,259
Investment in equity securities, Carrying Value	579	579
Total, Carrying Value	2,393	2,838
Liabilities, Carrying Value
Debt obligations, Carrying Value	7,588	9,597
Total, Carrying Value	7,588	9,597
Assets, Fair Value:
Cash, cash equivalents, restricted cash, Fair Value	1,814	2,259
Investment in equity securities, Fair Value	579	579
Total, Fair Value	2,393	2,838
Liabilities, Fair Value
Debt obligations, Fair Value	7,662	9,744
Total, Fair Value	7,662	9,744
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value:
Cash, cash equivalents, restricted cash, Fair Value	1,814	2,259
Investment in equity securities, Fair Value	0	0
Total, Fair Value	1,814	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	7,662	9,744
Total, Fair Value	$ 7,662	$ 9,744

Repurchase of Common Stock (Det

Repurchase of Common Stock (Details Textual) - shares	Jun. 30, 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