13D Filing: John F. Ruffle Files on American Shared Hospital Services (AMS)

Page 3 of 4 SEC Filing

This Amendment No. 3 (the “Amendment”)
amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission (the “Commission”)
on June 27, 2011, as amended on June 12, 2014 and October 22, 2014 (the “Original Schedule 13D”) by John F. Ruffle,
relating to the common stock, no par value (the “Common Stock”) of American Shared Hospital Services (the “Issuer”).
Capitalized terms used but not otherwise defined in this Amendment shall have the meanings ascribed to such terms in the Original
Schedule 13D.

This Amendment is being filed solely to
reflect that the Warrant Mr. Ruffle purchased on October 22, 2014, as disclosed in Amendment No. 2 filed on October 27, 2014, has
now become exercisable.

This Amendment amends and restates Item
5 of the Original Schedule 13D in its entirety as set forth below:

Item 5.  Interest in Securities of the Issuer

(a)  Mr. Ruffle has acquired
and, for the purpose of Rule 13d-3 promulgated under the Exchange Act, beneficially owns 550,664 Shares, representing approximately
10.1% of the outstanding Shares of the Issuer.  Of these shares, 50,000 represent shares that Mr. Ruffle has
a right to acquire by exercising the Warrant.

(b)  Mr. Ruffle has sole
power to vote and to dispose of 550,664 Shares.

(c)   Inapplicable.

(d)  Inapplicable.

(e)  Inapplicable.