This document summarizes a research paper that proposes a new lossless image compression algorithm called Pixel Size Reduction (PSR). The PSR algorithm achieves compression by representing pixels using the minimum number of bits needed based on their frequency of occurrence in the image, rather than a fixed 8 bits per pixel. Experimental results on test images showed that the PSR algorithm achieved better compression ratios than other lossless compression methods like Huffman, TIFF, GPPM, and PCX. The paper compares the compressed file sizes of the PSR algorithm to these other methods on various synthetic images.