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<SEC-DOCUMENT>0000950134-07-019782.txt : 20070910
<SEC-HEADER>0000950134-07-019782.hdr.sgml : 20070910
<ACCEPTANCE-DATETIME>20070910163105
ACCESSION NUMBER:		0000950134-07-019782
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070910
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070910
DATE AS OF CHANGE:		20070910

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SHARED HOSPITAL SERVICES
		CENTRAL INDEX KEY:			0000744825
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MEDICAL LABORATORIES [8071]
		IRS NUMBER:				942918118
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08789
		FILM NUMBER:		071109073

	BUSINESS ADDRESS:	
		STREET 1:		FOUR EMBARCADERO CENTER
		STREET 2:		SUITE 3700
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111-4107
		BUSINESS PHONE:		415-788-5300

	MAIL ADDRESS:	
		STREET 1:		FOUR EMBARCADERO CENTER
		STREET 2:		SUITE 3700
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111-4107
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f33661e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>e8vk</TITLE>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Date of Report (Date of earliest reported) <B>September&nbsp;10, 2007</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>AMERICAN SHARED HOSPITAL SERVICES</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its chapter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>California</B><BR>
(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>001-8789</B><BR>
(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>94-2918118</B><BR>
(IRS Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Four Embarcadero Center, Suite&nbsp;3700, San Francisco, CA</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>94111</B><BR>
(Zip Code)</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Registrant&#146;s telephone number, including area code <B>415-788-5300</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Former name or former address, if changed since last report)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 240.425)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







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<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 8.01 OTHER EVENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On September&nbsp;10, 2007, the Company issued a press release announcing it has invested approximately
$617,000 for an additional equity interest in Still River Systems, Inc. This investment represents
approximately 588,000 shares of Series&nbsp;C Convertible Preferred Stock, which is considered pari
passu with the previously issued Series&nbsp;A and Series&nbsp;B Convertible Preferred Stock. The full text
of the press release is attached hereto as Exhibit&nbsp;99.1. The Company does not intend for this
exhibit to be incorporated by reference into future filings under the Securities Exchange Act of
1934.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
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    <TD width="77%">&nbsp;</TD>
</TR>
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<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not applicable.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not applicable.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not applicable.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Exhibits</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibit is filed as part of this report:</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">99.1 Press Release, dated 9/10/07
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date: September 10, 2007             &nbsp;</TD>
    <TD colspan="3" align="left">American Shared Hospital Services<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Ernest A. Bates, M.D.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Ernest A. Bates, M.D.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chairman and CEO&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f33661exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMERICAN SHARED HOSPITAL SERVICES<BR>
INCREASES ITS EQUITY INVESTMENT IN STILL RIVER SYSTEMS,<BR>
DEVELOPER OF THE CLINATRON 250 PROTON BEAM RADIATION THERAPY DEVICE<br>&nbsp;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">San Francisco, CA, September&nbsp;10, 2007 &#151; <B>AMERICAN SHARED HOSPITAL SERVICES (AMEX,PCX:AMS)</B>, a
leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy
services, announced today that it has increased its equity interest in privately owned Still River
Systems, Inc., Littleton, Massachusetts, developer of the Clinatron 250&#153; proton beam radiation
therapy (PBRT)&nbsp;device, with the purchase of an additional $617,000 of Still River convertible
preferred stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In April&nbsp;2006, AMS purchased $2&nbsp;million of Still River convertible preferred stock and an option to
acquire two Clinatron 250 PBRT systems. AMS has contracted to place both of these devices, and
expects to commence lease agreements with Tufts-NEMC and M. D. Anderson Cancer Center Orlando for
the Still River PBRT systems in 2009, subject to the receipt of FDA clearance. AMS currently is
negotiating contracts for additional PBRT systems.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Clinatron 250 device under development by Still River Systems is a single-treatment-room PBRT
system incorporating proprietary technology which may dramatically reduce the cost of implementing
this Medicare-approved therapy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Today, more than half of the approximately one million new cancer patients diagnosed annually in
the United States alone receive some form of radiation therapy. Because proton beam radiation
therapy is widely regarded as the optimal radiation treatment for a wide variety of cancers, PBRT
is expected to capture a significant share of this market as the technology becomes more widely
available over the next few years. We see tremendous growth potential in Still River Systems&#146;
cost-effective PBRT device, especially when coupled with AMS&#146;s innovative financing programs. Our
investment in Still River Systems positions AMS to take full advantage of this next major advance
in radiation oncology,&#148; said Ernest A. Bates, M.D., Chairman and CEO of AMS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About AMS</B><BR>
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
services, 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 Century<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> concept. Through its equity
investment in Still River Systems, AMS also plans to complement these services with the Clinatron
250&#153; proton beam radiation therapy (PBRT)&nbsp;system, which has not yet been approved by the FDA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Safe Harbor Statement</B><BR>
<I>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
business, the risks of developing its IMRT and The Operating Room for the 21</I><SUP style="font-size: 85%; vertical-align: text-top"><I>st</SUP> Century
programs, and the risks of investing in a development-stage company, Still River Systems, Inc.,
without a proven product. 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&#146;s
Annual Report on Form 10-K and 10-K/A for the</I>
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>year ended December&nbsp;31, 2006, Form 10-Q for the three months ended March&nbsp;31, 2007, Form 10-Q for
the three months ended June&nbsp;30, 2007, and the definitive Proxy Statement for the Annual Meeting of
Shareholders held on June&nbsp;14, 2007.</I>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Contacts:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>American Shared Hospital Services</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ernest A. Bates, M.D., (415)&nbsp;788-5300</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman and Chief Executive Officer</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">e.bates@ashs.com</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Berkman Associates</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Neil Berkman, (310)&nbsp;826-5051</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">info@berkmanassociates.com</TD>
</TR>
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