This document summarizes a novel lossless text compression technique that uses ambigrams and Huffman coding. It begins with an introduction to ambigrams and Huffman coding. It then describes how the technique works by first using ambigrams to compress the text by about 50% and then further compressing it with Huffman coding to achieve over 60% compression overall. The technique is lossless as it allows perfect reconstruction of the original text. It also discusses potential applications in steganography by embedding confidential data into digital images.