Washington, D.C. 20549







(Check one): x Form 10-K  ¨ Form 20-F  ¨ Form 11-K  ¨ Form 10-Q  ¨ Form 10D  ¨ Form N-SAR ¨  Form N-CSR 


  For Period Ended: December 31, 2014  


  ¨ Transition Report on Form 10-K
  ¨ Transition Report on Form 20-F
  ¨ Transition Report on Form 11-K
  ¨ Transition Report on Form 10-Q
  ¨ Transition Report on Form N-SAR


  For the Transition Period Ended:    


Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.


If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:




American Shared Hospital Services
Full Name of Registrant
Former Name if Applicable
4 Embarcadero Center, Suite 3700
Address of Principal Executive Office (Street and Number)
San Francisco, CA 94111
City, State and Zip Code




PART II — RULES 12b-25(b) AND (c)


If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to

Rule 12b-25(b), the following should be completed. (Check box if appropriate)


x   (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
  (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
  (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.






The registrant was unable, despite diligent efforts, to finalize its audited financial statements without unreasonable effort and expenses. As a result of numerous discussions with its auditors, the registrant 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 registrant 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. The registrant expects to file within the next 24 hours and in any event within the 15 day extension period provided by Rule 12b-25.




(1) Name and telephone number of person to contact in regard to this notification


Craig K. Tagawa   415   788-5300 ext. 304
(Name)   (Area Code)   (Telephone Number)


(2)Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s).


    Yes x No ¨


(3)Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof ?


    Yes ¨ No x


If so: attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.




American Shared Hospital Services    
(Name of Registrant as Specified in Charter)    


has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.


Date    March 31, 2015    By    /s/ Craig K. Tagawa
        Craig K. Tagawa, Chief Operating and Financial Officer


Instruction: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.