Amesite Inc. Files 2024 Annual Report
Ticker: AMST · Form: 10-K · Filed: Sep 30, 2024 · CIK: 1807166
Sentiment: neutral
Topics: 10-K, annual-report, software
TL;DR
Amesite Inc. filed its 2024 10-K. Check financials.
AI Summary
Amesite Inc. filed its annual report for the fiscal year ended June 30, 2024. The company, incorporated in Delaware, operates in the prepackaged software industry. Its principal executive offices are located in Detroit, Michigan. The filing details its financial performance and business operations for the reported period.
Why It Matters
This 10-K filing provides investors and stakeholders with a comprehensive overview of Amesite Inc.'s financial health and strategic direction for the fiscal year 2024.
Risk Assessment
Risk Level: medium — As a publicly traded company filing a 10-K, there are inherent risks associated with financial reporting and market performance.
Key Numbers
- 2024 — Fiscal Year End (The report covers the fiscal year ending on this date.)
- 0630 — Fiscal Year End Month/Day (Specific end date for the fiscal year.)
Key Players & Entities
- Amesite Inc. (company) — Registrant
- June 30, 2024 (date) — Fiscal year end
- Delaware (location) — State of incorporation
- 7372 (other) — Standard Industrial Classification (SIC) code for Services-Prepackaged Software
- Detroit, MI (location) — Principal executive offices
- 001-39553 (other) — Commission File Number
FAQ
What is the primary business of Amesite Inc. according to the filing?
Amesite Inc. is classified under Standard Industrial Classification code 7372, which corresponds to Services-Prepackaged Software.
In which state was Amesite Inc. incorporated?
Amesite Inc. was incorporated in Delaware.
What is the Commission File Number for Amesite Inc.'s filing?
The Commission File Number is 001-39553.
Where are Amesite Inc.'s principal executive offices located?
Amesite Inc.'s principal executive offices are located at 607 Shelby Street Suite 700 PMB 214, Detroit, MI 48226.
What type of report is this filing?
This filing is a Form 10-K, which is an Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 4,395 words · 18 min read · ~15 pages · Grade level 14.2 · Accepted 2024-09-30 17:23:47
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 AMST The Nasdaq Stock Market LLC Secu
- $2.25 — Capital Market on December 29, 2023 of $2.25. On September 30, 2024, there were 2,7
- $1.0 billion — n Michigan, financing, on average, over $1.0 billion annually. Mr. Bernard has been involved
- $18.6 billion — te financial transactions totaling over $18.6 billion. Mr. Bernard specializes in both debt a
Filing Documents
- ea0214870-10k_amesite.htm (10-K) — 616KB
- ea021487001ex10-4_amesite.htm (EX-10.4) — 21KB
- ea021487001ex19-1_amesite.htm (EX-19.1) — 103KB
- ea021487001ex23-1_amesite.htm (EX-23.1) — 2KB
- ea021487001ex31-1_amesite.htm (EX-31.1) — 14KB
- ea021487001ex31-2_amesite.htm (EX-31.2) — 13KB
- ea021487001ex32-1_amesite.htm (EX-32.1) — 5KB
- ea021487001ex32-2_amesite.htm (EX-32.2) — 5KB
- ea021487001ex97-1_amesite.htm (EX-97.1) — 42KB
- image_001.jpg (GRAPHIC) — 12KB
- image_002.jpg (GRAPHIC) — 31KB
- 0001213900-24-083458.txt ( ) — 3995KB
- amst-20240630.xsd (EX-101.SCH) — 35KB
- amst-20240630_cal.xml (EX-101.CAL) — 29KB
- amst-20240630_def.xml (EX-101.DEF) — 162KB
- amst-20240630_lab.xml (EX-101.LAB) — 330KB
- amst-20240630_pre.xml (EX-101.PRE) — 175KB
- ea0214870-10k_amesite_htm.xml (XML) — 324KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 7 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 17 Item 2.
Properties
Properties 17 Item 3. Legal Proceedings 17 Item 4. Mine Safety Disclosures 17 Part II 18 Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 18 Item 6. [Reserved]. 18 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 23 Item 8. Financial F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 24 Item 9A. Controls and Procedures 24 Item 9B. Other Information 24 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 24 Part III 25 Item 10. Directors, Executive Officers and Corporate Governance 25 Item 11. Executive Compensation 25 Item 12. Security 25 Item 13. Certain Relationships and Related Transactions, and Director Independence 25 Item 14. Principal Accountant Fees and Services 25 Part IV 26 Item 15. Exhibit and Financial Statement Schedules 26 Item 16. Form 10-K Summary 27
Signatures
Signatures 28 -i- CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information we have when those statements are made or management's good faith belief as of that time with respect to future events, and are subject to a number of risks, and uncertainties and assumptions that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks are more fully described in the "Risk Factors" section of this Annual Report on Form 10-K. The following is a summary of such risks: our planned online machine learning platform's ability to enable universities and other clients to offer timely, improved popular courses and certification programs, without becoming software tech companies; our planned online machine learning platform's ability to result in opportunistic incremental revenue for colleges, universities and other clients, and improved ability to garner state funds due to increased retention and graduation rates through use of machine learning and natural language processing; our ability to continue as a going concern; our ability to obtain additional funds for our operations; our ability to obtain and maintain intellectual property protection for our
BUSINESS
ITEM 1. BUSINESS Overview Our mission is to empower people with AI tools. We have products in two sectors: higher education and healthcare. Higher education is presently challenged to offer useful, affordable professional development and workforce learning programs that generate revenue for them. Healthcare is presently challenged to integrate highly efficient, AI solutions into workflows in order to relieve the prodigious strain on services due to workforce shortages and high turnover. Amesite's AI-powered solutions aim to solve both of these problems. Artificial Intelligence is broadly transforming human work and learning. The emergence of large language models (LLMs) has resulted in reshaping of whole industries. We believe that all successful companies and organizations will have to successfully implement AI solutions in order to maintain excellence and competitiveness. While LLMs offer the promise of transformation, software solutions that successfully incorporate functions and features that are fit for purpose are essential. Scaled software platforms are often slow to integrate new technology, because they are burdened by the need to assure backward compatibility, and the inertial effects of large volumes of interlocking practices, from technology to sales to customer success. Small startups often lack the experience needed to create offerings that are both scalable and compliant with relevant regulations. We believe that Amesite is uniquely positioned to address these markets. We are both agile and experienced. We believe our team is perfectly sized and skilled to create processes that fit the present technology moment – rapidly – while still offering nearly 50 combined years of technology experience, and decades of additional experience on team in sales, marketing and finance. Our higher education platform, Amesite Engage, enables colleges and universities to offer courses and programs that build professional skills. Customers in higher education can