Amesite Inc. Faces Delisting Concerns

TL;DR

Amesite's on thin ice with Nasdaq, might get delisted.

AI Summary

Amesite Inc. filed an 8-K on November 26, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is based in Ann Arbor, Michigan, and its IRS number is 823431717. The filing indicates potential issues with meeting Nasdaq's continued listing requirements.

Why It Matters

This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being removed from trading on a major exchange.

Risk Assessment

Risk Level: high — A notice of delisting directly impacts the company's ability to remain publicly traded, posing a significant risk to investors.

Key Numbers

• 001-39553 — SEC File Number (Identifies the company's filing history with the SEC.)

Key Players & Entities

• Amesite Inc. (company) — Registrant
• November 26, 2024 (date) — Date of earliest event reported
• Ann Arbor, Michigan (location) — Principal executive offices
• 823431717 (identifier) — IRS Number
• Nasdaq (company) — Exchange where listing is potentially at risk

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share AMST The Nasdaq Stock Mar
• $2,500,000 — es the Company to maintain a minimum of $2,500,000 in stockholders' equity for continued l
• $35 million — value of listed securities of at least $35 million or net income of $500,000 from continui
• $500,000 — f at least $35 million or net income of $500,000 from continuing operations in the most

Filing Documents

• ea0223322-8k_amesite.htm (8-K) — 28KB
• 0001213900-24-105073.txt ( ) — 199KB
• amst-20241126.xsd (EX-101.SCH) — 3KB
• amst-20241126_lab.xml (EX-101.LAB) — 33KB
• amst-20241126_pre.xml (EX-101.PRE) — 22KB
• ea0223322-8k_amesite_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 26, 2024, Amesite Inc. ("Amesite" or "the Company") received a deficiency letter (the "Nasdaq Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires the Company to maintain a minimum of $2,500,000 in stockholders' equity for continued listing on the Nasdaq Capital Market (the "Stockholders' Equity Requirement"), nor is it in compliance with either of the alternative listing standards, either a market value of listed securities of at least $35 million or net income of $500,000 from continuing operations in the most recently completed fiscal year, or in two of the three most recently completed fiscal years. Pursuant to the Nasdaq Letter, the Company has 45 calendar days from the date of the Nasdaq Letter to submit a plan to regain compliance and the Company intends to submit such a plan during this period. If it accepts the plan, Nasdaq can grant an extension of up to 180 calendar days from the date of the Nasdaq Letter to evidence compliance. In the event the plan is not accepted by Nasdaq, or in the event the plan is accepted and the 180-day extension period granted but the Company fails to regain compliance within such plan period, the Company would have the right to a hearing before an independent panel. The hearing request would stay any suspension or delisting action pending the conclusion of the hearing process and the expiration of any additional extension period granted by the panel following the hearing. The Company intends to take all reasonable measures available to regain compliance under the Nasdaq Listing Rules and remain listed on Nasdaq. However, there can be no assurance that Nasdaq will grant the Company's request for an extension or that the Company will ultimately regain compliance w

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K contains express or implied forward-looking statements within the meaning provided in the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, the Company is using forward-looking statements when it discusses its potentially regaining compliance with Nasdaq's continued listing requirements, and the timing and effect thereof. The inclusion of forward-looking statements should not be regarded as a representation by the Company that any of these results will be achieved. Actual results may differ from those set forth in this report due to the risks and uncertainties inherent in the Company's business, including those described in the Company's other filings with the Securities Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this report to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMESITE INC. Date: December 3, 2024 By: /s/ Ann Marie Sastry, Ph.D. Name: Ann Marie Sastry, Ph.D. Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR