$AMST
Amesite Inc.

2023 Q4 Form 10-Q Financial Statement

#000121390023086169 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $41.44K $63.33K $120.0K
YoY Change -82.52% -77.4% -23.87%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $666.3K $679.9K $1.110M
YoY Change 28.62% -50.8% -51.65%
% of Gross Profit
Research & Development $333.4K
YoY Change
% of Gross Profit
Depreciation & Amortization $139.7K $152.4K $150.0K
YoY Change -20.33% -18.54% -22.49%
% of Gross Profit
Operating Expenses $997.5K $1.013M $1.110M
YoY Change 5.1% -45.59% -51.65%
Operating Profit -$956.1K -$950.0K
YoY Change 34.28% -103.08%
Interest Expense $50.47K $59.30K $40.00K
YoY Change 303.44% 988.07% -836.65%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$905.6K -$890.7K -$950.0K
YoY Change 29.47% -43.53% -55.68%
Income Tax
% Of Pretax Income
Net Earnings -$905.6K -$890.7K -$950.0K
YoY Change 29.47% -43.53% -55.68%
Net Earnings / Revenue -2185.2% -1406.36% -791.67%
Basic Earnings Per Share -$0.04 -$0.35
Diluted Earnings Per Share -$0.04 -$0.35 -$0.37
COMMON SHARES
Basic Shares Outstanding 2.542M shares 2.542M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.663M $4.637M $5.360M
YoY Change -47.6% -42.64% -25.09%
Cash & Equivalents $3.663M $4.637M $5.361M
Short-Term Investments
Other Short-Term Assets $194.1K $76.47K $110.0K
YoY Change -25.69% -52.44% -80.36%
Inventory
Prepaid Expenses
Receivables $18.75K $15.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.858M $4.732M $5.482M
YoY Change -47.57% -43.06% -29.08%
LONG-TERM ASSETS
Property, Plant & Equipment $77.46K $82.63K $88.97K
YoY Change 0.1% -1.25% 2.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $694.8K $780.3K $867.4K
YoY Change -28.35% -27.7% -24.83%
TOTAL ASSETS
Total Short-Term Assets $3.858M $4.732M $5.482M
Total Long-Term Assets $694.8K $780.3K $867.4K
Total Assets $4.552M $5.512M $6.350M
YoY Change -45.33% -41.3% -28.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.83K $78.89K $70.07K
YoY Change -42.56% 132.69% -42.7%
Accrued Expenses $98.01K $160.1K $140.0K
YoY Change 68.43% -56.54% -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 $176.0K $263.3K $265.3K
YoY Change -60.7% -64.6% -64.53%
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 $176.0K $263.3K $265.3K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $176.0K $263.3K $270.0K
YoY Change -60.7% -64.6% -63.91%
SHAREHOLDERS EQUITY
Retained Earnings -$35.23M -$34.32M -$33.43M
YoY Change 11.64% 11.24% 14.19%
Common Stock $255.00 $255.00 $255.00
YoY Change -91.6% -91.47% -90.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.376M $5.249M $6.084M
YoY Change
Total Liabilities & Shareholders Equity $4.552M $5.512M $6.350M
YoY Change -45.33% -41.3% -28.52%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$905.6K -$890.7K -$950.0K
YoY Change 29.47% -43.53% -55.68%
Depreciation, Depletion And Amortization $139.7K $152.4K $150.0K
YoY Change -20.33% -18.54% -22.49%
Cash From Operating Activities -$919.1K -$658.8K -$670.0K
YoY Change -10.49% -18.65% -58.82%
INVESTING ACTIVITIES
Capital Expenditures $54.17K $110.0K
YoY Change -17.51% -189.26%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$54.17K -$65.20K -$110.0K
YoY Change -17.51% -41.99% -10.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $0.00 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -919.1K -$658.8K -670.0K
Cash From Investing Activities -54.17K -$65.20K -110.0K
Cash From Financing Activities 0.000 $0.00 0.000
Net Change In Cash -973.2K -$724.0K -780.0K
YoY Change -10.91% -177.99% -55.43%
FREE CASH FLOW
Cash From Operating Activities -$919.1K -$658.8K -$670.0K
Capital Expenditures $54.17K $110.0K
Free Cash Flow -$973.2K -$658.8K -$780.0K
YoY Change -10.91% -18.93% -48.12%

Facts In Submission

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<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 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">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 machine learning to provide a novel, mass customized experience to learners. The Company’s Customers are businesses, universities and colleges, and K-12 schools. The Company’s activities are subject to significant risks and uncertainties. The Company’s operations are considered to be in one segment.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p>
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CY2023Q3 us-gaap Deferred Income Revenue Recognized
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26250 usd
CY2022Q3 us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
175000 usd
CY2023Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001807166
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
757315 shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
758079 shares
CY2023Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b><i>Risks and Uncertainties </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company operates in an industry subject to rapid change. The Company’s operations will be subject to significant risk and uncertainties including financial, operational, technological, and other risks associated with an early-stage company, including the potential risk of business failure.</p>
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
237041 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.73
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M20D
CY2023Q3 amst Share Based Compensation Arrangement By Share Based Payment Award Options Number Of Share Terminated
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNumberOfShareTerminated
-764 shares
CY2023Q3 amst Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price Terminated
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceTerminated
-21.73
CY2023Q3 amst Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Terminated Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerminatedTerm
P7Y9M3D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
236277 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.72
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P6Y1M20D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
7402 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
16421 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
62500 shares
CY2023Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
52731 usd
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
521038 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
521038 shares
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
24900000 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
17000 usd
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q3 amst Value Of Common Stock Issued In Exchange For Consulting Services
ValueOfCommonStockIssuedInExchangeForConsultingServices
usd
CY2023Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2023Q3 amst Issuance Of Common Stock In Exchange For Consulting Services
IssuanceOfCommonStockInExchangeForConsultingServices
usd
CY2023Q3 dei Amendment Flag
AmendmentFlag
false
CY2023Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2023Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1

Files In Submission

Name View Source Status
amst-20230930_cal.xml Edgar Link unprocessable
0001213900-23-086169-index-headers.html Edgar Link pending
0001213900-23-086169-index.html Edgar Link pending
0001213900-23-086169.txt Edgar Link pending
0001213900-23-086169-xbrl.zip Edgar Link pending
amst-20230930.xsd Edgar Link pending
f10q0923ex31-1_amesiteinc.htm Edgar Link pending
f10q0923ex31-2_amesiteinc.htm Edgar Link pending
f10q0923ex32-1_amesiteinc.htm Edgar Link pending
f10q0923ex32-2_amesiteinc.htm Edgar Link pending
f10q0923_amesiteinc.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
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R2.htm Edgar Link pending
R20.htm Edgar Link pending
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R22.htm Edgar Link pending
R23.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
amst-20230930_def.xml Edgar Link unprocessable
amst-20230930_lab.xml Edgar Link unprocessable
amst-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
f10q0923_amesiteinc_htm.xml Edgar Link completed
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending