AMERICAN SHARED HOSPITAL SERVICES (AMS): auditor change — American Shared Hospital Services will restate Q3 2025 10-Q due to debt classification error

AMERICAN SHARED HOSPITAL SERVICES

Audit committee concluded unaudited Sept 30, 2025 balance sheet misclassified $8.6M in debt as long-term; should be current liabilities.
Error arose after Fifth Third default notice for failing to maintain $5M unrestricted cash minimum; cross-default under DFC loan.
Restatement will reclassify $7.95M (Fifth Third) and $0.65M (DFC) debt; no effect on revenue, net loss, or cash flows.
Company is seeking waiver/amendment from Fifth Third; no acceleration of obligations yet.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On December 27, 2025, the Audit Committee of the Board of Directors of American Shared Hospital Services (the “ Company ”) concluded, after discussions with management and Baker Tilly US, LLP, the Company’s independent registered public accounting firm, that the Company’s unaudited condensed balance sheet that was part of the Company’s financial statements as of September 30, 2025 (the “ Previous Financial Statements ”), included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, filed with the Securities and Exchange Commission (the “ SEC ”) on November 14, 2025 (the “ Q3 2025 Quarterly Report ”), should no longer be relied upon as it relates to the classification of the Company’s indebtedness as of September 30, 2025.

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Source: SEC EDGAR

accession 0001437749-26-000099

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