$AMST
Amesite Inc. Stock $amst

$amst Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-K Financial Statement

#000121390023081208 Filed on October 06, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2023
Revenue	$63.33K	$120.0K	$845.0K
YoY Change	-77.4%	-23.87%	21.23%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$679.9K	$1.110M	$3.546M
YoY Change	-50.8%	-51.65%	-47.02%
% of Gross Profit
Research & Development	$333.4K		$1.524M
YoY Change			-50.21%
% of Gross Profit
Depreciation & Amortization	$152.4K	$150.0K	$682.5K
YoY Change	-18.54%	-22.49%	-22.06%
% of Gross Profit
Operating Expenses	$1.013M	$1.110M	$5.070M
YoY Change	-45.59%	-51.65%	-48.02%
Operating Profit	-$950.0K		-$4.225M
YoY Change	-103.08%		-53.35%
Interest Expense	$59.30K	$40.00K	$70.00K
YoY Change	988.07%	-836.65%	-2152.79%
% of Operating Profit
Other Income/Expense, Net	$0.00		$71.21K
YoY Change	-100.0%
Pretax Income	-$890.7K	-$950.0K	-$4.150M
YoY Change	-43.53%	-55.68%	-54.19%
Income Tax
% Of Pretax Income
Net Earnings	-$890.7K	-$950.0K	-$4.153M
YoY Change	-43.53%	-55.68%	-54.16%
Net Earnings / Revenue	-1406.36%	-791.67%	-491.51%
Basic Earnings Per Share	-$0.35		-$1.68
Diluted Earnings Per Share	-$0.35	-$0.37	-$1.68
COMMON SHARES
Basic Shares Outstanding	2.542M shares		2.470M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2023 Q3	2023 Q2	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.637M	$5.360M	$5.360M
YoY Change	-42.64%	-25.09%	-25.09%
Cash & Equivalents	$4.637M	$5.361M	$5.360M
Short-Term Investments
Other Short-Term Assets	$76.47K	$110.0K	$110.0K
YoY Change	-52.44%	-80.36%	-80.36%
Inventory
Prepaid Expenses
Receivables	$18.75K	$15.00K	$20.00K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$4.732M	$5.482M	$5.480M
YoY Change	-43.06%	-29.08%	-29.11%
LONG-TERM ASSETS
Property, Plant & Equipment	$82.63K	$88.97K	$90.00K
YoY Change	-1.25%	2.04%	3.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$780.3K	$867.4K	$870.0K
YoY Change	-27.7%	-24.83%	-24.6%
TOTAL ASSETS
Total Short-Term Assets	$4.732M	$5.482M	$5.480M
Total Long-Term Assets	$780.3K	$867.4K	$870.0K
Total Assets	$5.512M	$6.350M	$6.350M
YoY Change	-41.3%	-28.52%	-28.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$78.89K	$70.07K	$70.00K
YoY Change	132.69%	-42.7%	-42.76%
Accrued Expenses	$160.1K	$140.0K	$140.0K
YoY Change	-56.54%	-50.56%	-50.56%
Deferred Revenue	$24.38K	$342.7K
YoY Change	-92.87%	0.0%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$263.3K	$265.3K	$270.0K
YoY Change	-64.6%	-64.53%	-63.91%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$263.3K	$265.3K	$270.0K
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$263.3K	$270.0K	$270.0K
YoY Change	-64.6%	-63.91%	-63.91%
SHAREHOLDERS EQUITY
Retained Earnings	-$34.32M	-$33.43M
YoY Change	11.24%	14.19%
Common Stock	$255.00	$255.00
YoY Change	-91.47%	-90.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$5.249M	$6.084M	$6.080M
YoY Change
Total Liabilities & Shareholders Equity	$5.512M	$6.350M	$6.350M
YoY Change	-41.3%	-28.52%	-28.52%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2023
OPERATING ACTIVITIES
Net Income	-$890.7K	-$950.0K	-$4.153M
YoY Change	-43.53%	-55.68%	-54.16%
Depreciation, Depletion And Amortization	$152.4K	$150.0K	$682.5K
YoY Change	-18.54%	-22.49%	-22.06%
Cash From Operating Activities	-$658.8K	-$670.0K	-$3.249M
YoY Change	-18.65%	-58.82%	-51.62%
INVESTING ACTIVITIES
Capital Expenditures		$110.0K	$27.12K
YoY Change		-189.26%	63.64%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$65.20K	-$110.0K	-$396.0K
YoY Change	-41.99%	-10.74%	-44.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$1.851M
YoY Change			-52.18%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$0.00	0.000	$1.851M
YoY Change	-100.0%		-52.18%
NET CHANGE
Cash From Operating Activities	-$658.8K	-670.0K	-$3.249M
Cash From Investing Activities	-$65.20K	-110.0K	-$396.0K
Cash From Financing Activities	$0.00	0.000	$1.851M
Net Change In Cash	-$724.0K	-780.0K	-$1.795M
YoY Change	-177.99%	-55.43%	-49.55%
FREE CASH FLOW
Cash From Operating Activities	-$658.8K	-$670.0K	-$3.249M
Capital Expenditures		$110.0K	$27.12K
Free Cash Flow	-$658.8K	-$780.0K	-$3.276M
YoY Change	-18.93%	-48.12%	-51.33%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	53958	usd
CY2022Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	342672	usd
CY2023	dei	Document Type DocumentType	10-K
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-06-30
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--06-30
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	001-39553
CY2023	dei	Entity Registrant Name EntityRegistrantName	AMESITE INC.
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	82-3431718
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	607 Shelby Street
CY2023	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 700 PMB 214
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Detroit
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	MI
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	48226
CY2023	dei	City Area Code CityAreaCode	(734)
CY2023	dei	Local Phone Number LocalPhoneNumber	876-8141
CY2023	dei	Security12b Title Security12bTitle	Common Stock, par value $0.0001
CY2023	dei	Trading Symbol TradingSymbol	AMST
CY2023	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2023	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
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CY2023Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	2542440	shares
CY2023	dei	Auditor Firm AuditorFirmId	76
CY2023	dei	Auditor Name AuditorName	Turner, Stone & Company, L.L.P
CY2023	dei	Auditor Location AuditorLocation	Dallas, Texas
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CY2022Q2	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	7155367	usd
CY2023Q2	us-gaap	Receivables Net Current ReceivablesNetCurrent	15000	usd
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CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	88966	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	87190	usd
CY2023Q2	amst	Capitalized Software Net CapitalizedSoftwareNet	778446	usd
CY2022Q2	amst	Capitalized Software Net CapitalizedSoftwareNet	1066674	usd
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CY2023Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	64500	usd
CY2022Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	174056	usd
CY2022	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-3405	usd
CY2023Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	76799	usd
CY2022Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	109095	usd
CY2023Q2	us-gaap	Liabilities Current LiabilitiesCurrent	265327	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	748108	usd
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CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
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CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
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CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	2166124	shares
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	2166124	shares
CY2023Q2	us-gaap	Common Stock Value CommonStockValue	255	usd
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	217	usd
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
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CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	37412551	usd
CY2023Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-33430319	usd
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CY2023	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2492777	usd
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CY2022	us-gaap	Operating Income Loss OperatingIncomeLoss	-9056518	usd
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CY2022	us-gaap	Other Noncash Income OtherNoncashIncome	9230	usd
CY2023	us-gaap	Other Noncash Expense OtherNoncashExpense	1619	usd
CY2022	us-gaap	Other Noncash Expense OtherNoncashExpense	12635	usd
CY2023	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	71205	usd
CY2023	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	1850503	usd
CY2022	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	3869550	usd
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1850503	usd
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	3869550	usd
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1794706	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-4153303	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-9059923	usd
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.68
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CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1939132	shares
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CY2022	us-gaap	Net Income Loss NetIncomeLoss	-9059923	usd
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CY2023	us-gaap	Payments For Software PaymentsForSoftware	368909	usd
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CY2023	us-gaap	Nature Of Operations NatureOfOperations	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1 - Nature of Business </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Amesite Inc. (the “Company”) was incorporated in November 2017. The Company is an artificial intelligence driven platform and course designer, that provides customized, high performance and scalable online products for schools and businesses. The Company uses artificial intelligence to provide a novel, mass customized experience to learners. The Company’s Customers include offerors in the university, business, k-12, museum, and other non-profit markets. The Company’s activities are subject to significant risks and uncertainties. The Company’s operations are considered to be in one segment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In the prior year's financial statements, management disclosed conditions that raised substantial doubt about the Company's ability to continue as a going concern. Since then, significant changes have occurred in the Company's financial position and operations that have mitigated these concerns.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Additional Financing: Subsequent to the year-end, the Company successfully secured additional financing, thereby strengthening its liquidity position and ensuring the availability of necessary resources to meet both its short-term and long-term obligations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Expense Reduction: Concurrently, the Company undertook a rigorous review of its operating structure and has implemented strategic expense reduction initiatives. These initiatives have resulted in a significant decrease in our operational expenses, further enhancing the Company's financial stability and outlook.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Based on these developments and the current financial position, management believes the conditions that raised substantial doubt about the Company's ability to continue as a going concern have been alleviated. As a result, management no longer has substantial doubt about the Company's ability to continue as a going concern for the foreseeable future.</p>
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Files In Submission

Name	View Source	Status
0001213900-23-081208-index-headers.html	Edgar Link	pending
0001213900-23-081208-index.html	Edgar Link	pending
0001213900-23-081208.txt	Edgar Link	pending
0001213900-23-081208-xbrl.zip	Edgar Link	pending
amst-20230630.xsd	Edgar Link	pending
ex23-2_001.jpg	Edgar Link	pending
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$AMST
Amesite Inc. Stock $amst

2023 Q3 Form 10-K Financial Statement

#000121390023081208 Filed on October 06, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AMST Amesite Inc. Stock $amst

2023 Q3 Form 10-K Financial Statement

#000121390023081208 Filed on October 06, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AMST
Amesite Inc. Stock $amst