American Shared Hospital Services (NYSE MKT:AMS) Q2 2019 Earnings Conference Call - Final Transcript

Aug 13, 2019 • 03:00 pm ET

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American Shared Hospital Services (NYSE MKT:AMS) Q2 2019 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

Very good. We can begin our question-and-answer session. [Operator Instructions] Our first question comes from Robert Bacci [Phonetic], a private investor.

Analyst
Robert Bacci

Yes, I'm very interested in knowing our investment in Mevion. Do we still have it? If we do, is it an American company or a Chinese company? I'd like to know how it's doing. And if there's any -- I know it's a private company, but somebody there has the information as to how it's doing as far as growth. And then I'd like to know if there's any new possibilities with the major contracts for the equipment. Thank you.

Executive
Craig K. Tagawa

Well, what I could tell you is that we no longer have a investment in Mevion. I think -- and that was announced several quarters ago, due to their merger. And both Chinese investment companies have bought interest in Mevion. So I think it probably is majority owned, if not wholly owned by Chinese investment companies. And they continue to sell units. They just recently announced that they are putting the second unit in at Barnes-Jewish Hospital. So you can look at their website and you can see some of the activity that they've had recently.

As to their financial position, we're not privy to that as they're a private company and it's an [Indecipherable] transaction that we deal with them.

Analyst
Robert Bacci

All right. What about new business for us, any major contracts for our equipment?

Executive
Craig K. Tagawa

We have not signed any definitive agreements with any hospitals for proton units, but we continue to work towards that to that end, and hopefully we'll be able to announce something in the not too distant future.

Analyst
Robert Bacci

Good luck on that. Thank you.

Executive
Ernest A. Bates

Yes and this is Dr. Bates. We are negotiating with two hospitals in America, one down in Long Beach and the other in San Francisco to put in proton machines. And these will be Mevion machines.

Analyst
Robert Bacci

Right. All right. I'm glad you're still doing business with Mevion. At least that's going on. Thank you.

Operator
Operator

Our next question is from Lenny Dunn of Mutual Trust.

Analyst
Lenny Dunn

Good afternoon. Again, I am disappointed that we have not concluded at least the Southern California installation by now. Is that still on the cusp of getting done? But it always seems like it's just out there over the horizon, but not there.

Executive
Craig K. Tagawa

Yes, there are some things that have to get done before we can enter into an arrangement with the party that we're talking to. So there's something outside of our control that need to be concluded first, essentially a two-pronged transaction. And the first step hasn't been completed yet, although we expect it to be completed shortly.

Analyst
Lenny Dunn

Yes, because we were waiting almost all year for that one, the San Francisco one. Do you think that'll get done before the end of the year or do you think that, that maybe will be your next year's story?

Executive
Craig K. Tagawa

Yes, we are hoping that both of these will get done before the end of the year. We're