Full Press Release Details
AMERICAN SHARED HOSPITAL SERVICES
PROVIDES UPDATE ON FORM 10-K
San Francisco, CA - April 1, 2015 -- AMERICAN
SHARED HOSPITAL SERVICES (NYSE MKT:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and
radiation therapy services, today filed with the United States Securities and Exchange Commission, Form 12b-25 Notification of
Late Filing with regard to its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. As a result of numerous
discussions with its auditors, the Company determined to make a number of non-material changes to footnotes to its financial statements.
These changes flowed through several footnotes and required confirming checks and revisions to ensure proper presentation. The
Company has now completed its review of the financial statements but was unable to complete the edgarization and filing of the
report prior to the deadline. Although the filing of the Form 12b-25 provides the Company a 15 calendar day grace period to file
its 2014 Form 10-K, the Company believes that it will file its 2014 Form 10-K within the next 24 hours.
American Shared Hospital Services provides
turnkey technology solutions for advanced radiosurgical and radiation therapy services. AMS is the world leader in providing Gamma
Knife radiosurgery equipment, a non-invasive treatment for malignant and benign brain tumors, vascular malformations and trigeminal
neuralgia (facial pain). The Company also offers the latest IGRT and IMRT systems, as well as its proprietary Operating Room for
the 21st CenturySM concept. AMS owns a common stock investment in Mevion Medical Systems, Inc., developer of the compact
MEVION S250 Proton Therapy System.
Safe Harbor Statement
This press release may be deemed to
contain certain forward-looking statements with respect to the financial condition, results of operations and future plans of American
Shared Hospital Services, which involve risks and uncertainties including, but not limited to, the risks of the Gamma Knife and
radiation therapy businesses, the risks of developing The Operating Room for the 21st Century program, the risks of investing in
a development-stage company, Mevion Medical Systems, Inc., and the risks of the timing, financing, and operations of the Company's
proton therapy business. Further information on potential factors that could affect the financial condition, results of operations
and future plans of American Shared Hospital Services is included in the filings of the Company with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K and Form 10-K/A for the year ended December 31, 2013, the Quarterly
Report on Form 10-Q for the quarter ended March 31, 2014, the Form 10-Q and Form 10-Q/A for the quarter ended June 30, 2014, the
Form 10-Q for the quarter ended September 30, 2014,and the definitive Proxy Statement for the Annual Meeting of Shareholders held
Ernest A. Bates, M.D.,
Chairman and Chief Executive
Neil Berkman, (310) 477-3118