AMST Amesite Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 20, 2024

 

Amesite Inc.

(Exact name of registrant as specified in its charter)

 

Delaware		001-39553		82-3431718
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

607 Shelby Street Suite 700 PMB 214 Detroit, MI		48226
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (734) 876-8130

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		AMST		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01 Regulation FD Disclosure.

 

Amesite Inc. (the “Company”) has prepared presentation materials (the “Presentation Materials”) that management intends to use from time to time in presentations about the Company’s operations and performance, and was posted to the Company’s website on February 20, 2024. The Presentation Materials are furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Item 7.01 and Exhibit 99.1 of this Current Report on Form 8-K is furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. The information in this Item 7.01 and Exhibit 99.1 of this Current Report on Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this Current Report, regardless of any general incorporation language in any such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.		Description
99.1		Presentation Materials - Spring 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

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: February 21, 2024	By:	/s/ Ann Marie Sastry, Ph.D.
		Ann Marie Sastry, Ph.D.
		Chief Executive Officer

 

 

2

 

Exhibit 99.1

 

Presentation SP R I NG 2 0 2 4 Company

Forward Looking Statements This presentation may contain “forward - looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. For such forward - looking statements, we claim the protection of the safe harbor for forward - looking statements contained in the Private Securities Litigation Reform Act of 1995. As used below and throughout this presentation, the words “we”, “us” and “our” may refer to Amesite individually or together with one or more partner companies, as dictated by context. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward - looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for and continued access to additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our Securities and Exchange Commission filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward - looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisions that apply to a given piece of information in one part of this presentation should be read as applying mutatis mutandis to every other instance of such information appearing herein. 2 © 2024 Amesite Inc. All Rights Reserved.

Meet Amesite We deliver AI - powered online learning systems for colleges and universities, under a new, no - risk, no setup fee deal, enabling professional development programs to scale at low cost. GLOBAL ONLINE LEARNING MARKET WILL REACH ~$850B BY 2030. White Labeled Systems. AI - Powered Learning. Dozens of catalog offerings. AI Assistant: Hi there! What questions can I answer for you about your course? AI Assistant: Apply Clark's Rule: (Child's Weight in lbs / 150) x Adult Dose. So, (50 / 150) x 300 mg = 100 mg dose. TARA G2002: In module 4, I have a question on dosing. For a 50 lb child, how do I calculate the medication dose with Clark's Rule? 3 © 2024 Amesite Inc. All Rights Reserved.

4 Simple Deal. Enormous Markets. Sustainable Systems. Source https://www.globenewswire.com/en/news - release/2023/02/02/2600283/0/en/E - Learning - Market - is - Projected - to - Hit - USD - 848 - 12 - Billion - at - a - CAGR - of - 17 - 54 - by - 2030 - Report - by - Facts - Factors - FnF.html © 2024 Amesite Inc. All Rights Reserved. Amesite’s Disruptive Tech Delivers the Best Deal in EdTech for Higher Ed. • No Setup Fee • White Labeled • 100% Flexibility in Content Delivery • No - Risk, 5y Contracts • AI - Powered Coding and Features that Drive Retention Ranked #1 among competitors (2U, PowerSchool and Coursera) in third - party evaluation #1 #1 Highest Learner Retention in the Industry

Amesite Scales Online Learning Powered by AI. Out - of - the - box scalability. 1 Onboard 2 Launch • Users can self - enroll or be enrolled administratively • Login via SSO is supported 3 Manage • Instant, unlimited, customized reporting • 100% user training & progress reviews • Quick, seamless setup • 100% of training provided • Integrates to customer website 5 © 2024 Amesite Inc. All Rights Reserved.

How Amesite Generates Revenue with College Partnerships Amesite leverages regional and community colleges to market and sell professional programs. Simple, repeatable deal – targets are workforce development & professional learning divisions at regional colleges and universities that want to generate impact and revenue. Deliver Learning Community Environments ® (LCEs). Colleges sell regionally. Revenue scales for college & Amesite. (present pricing estimates & targets) YEAR ONE 6 © 2024 Amesite Inc. All Rights Reserved. YEAR TWO YEAR THREE Users: - College Revenue: - AMST Revenue: - Users: 250 / mo College Revenue: $180k AMST Revenue: $90k Users: 1000 / mo College Revenue: $720k AMST Revenue: $360k

7 Performance and Customer Accolades © 2024 Amesite Inc. All Rights Reserved. Amesite Retention Rates Industry Average Retention Rate 96 - 98% 68 - 73% Source https://files.eric.ed.gov/fulltext/EJ1154164.pdf Amesite’s technology relieves administrative headaches and ultimately allows us to do our jobs well. The intuitive dashboards and powerful analytics tools make managing and upskilling teams all over the world simple.” Kasey Braun Training & Quality Manager EWIE Group of Companies Amesite is at the center of all our business process training at EGC. We have appreciated their support of their team throughout the relationship. Using Amesite’s global upskilling technology platform enables our people to gain the know - how to meet our most demanding customers’ needs, quickly and efficiently.” Jay Mullick President EWIE Group of Companies “ “

8 By empowering Amesite and putting their platform on Microsoft Azure, we can ...get these solutions out to people who need upskilling courses ." “ Tamer Erzurumlu Director of Partner Strategy Education,, Microsoft © 2024 Amesite Inc. All Rights Reserved. Amesite’s Tech: Ahead of the Pack Microsoft Highlighted Amesite’s Tech on Their Website Sources https://azure.microsoft.com/en - us/pricing/azure - vs - aws https://news.microsoft.com/stories/cloud - security/ >100 Compliance Certifications (Azure) 95% Fortune 500 Choose Azure Amesite Compliance & Security: Best in Class 100% Amesite Web Accessibility Score FEB 14 2023 1st EdTech platform to integrate with GPT - 3 MAR 15 2023 FERPA and COPPA Compliance Obtained APR 03 2023 V6 Platform, with GPT - 4 Functionality Launched APR 18 2023 AI Generated Content with AI Narration Capabilities Released JUN 28 2023 V6.3 Platform, Utilizing AI - First Infrastructure Launched JUL 24 2023 Integration Capability with LMS Platforms Launched JAN 17 2023 TX - RAMP Provisional Certification Status Obtained FEB 13 2023 Article Automation Feature for Continuous Updates Launched

Amesite Is Positioned for Growth Multitenant cloud infrastructure efficiently supports both B2B and B2C applications. Amesite Cloud: Supports Multiple Products Powered by AI Amesite B2B Learning Community Environments (LCEs) Amesite B2C Apps Target: Colleges & Universities Target: Direct to professionals CU R R E N T PR O D U C T S Delivering Professional Learning through Partner Brands 2024: I N T R O D U C I N G AI - Pow er ed B 2 C A p p s (Development + Acquisition) 9 © 2024 Amesite Inc. All Rights Reserved.

• Talent Strategy: Arm with AI tools. • Scale - Ready Infrastructure: Use best practices in DevOps. • 17 Workplace Excellence Awards. 7 National. Award Winning Culture. Scalable Infrastructure. RE P E A T A B L E B 2B S A L E : Ga i n i n g T r a c t i o n 10 © 2024 Amesite Inc. All Rights Reserved. Number of AI Companies Globally 67k https://explodingtopics.com/blog/number - ai - companies#number NE W B 2 C PR OD U C T S: Sa m e I n f r a str u c tu r e TA R G E TIN G B 2 C AC Q U I S I T I O N S : AI Ap p s a c r o s s M a r k et s Amesite TCV: $2.4M Sales Targets: ~2k Colleges https://www.statista.com/outlook/dmo/eservices/online - education/professional - certificates/worldwide US App Market $45B in 2023 https://www.businessofapps.com/data/us - app - market/

11 Financial Position $297k * Average Monthly Burn Projection over 12 months $3.7M $0 Cash On Hand Debt © 2024 Amesite Inc. All Rights Reserved. 10 - Q February 14, 2024 Building Revenue: • B2B Platform Build Is Complete and Scalable • Sales Meetings Increased by 169% and Opportunities by 118% since pivot to repeatable motion with no set - up fee • Investments in B2C Tools Planned • Good Liquidity • No Debt * Does not include fundraising or commissions on fundraising Months of burn on hand, assuming no new revenue (conservative). $2.4M Total Contract Value Since Inception 12

12 TEC H & I P FIN A N C E PE O PL E & G R O W T H Dr. Ann Marie Sastry Founder, Chair & CEO Anthony Barkett, J.D. Barbie Brewer J. Michael Losh Richard Ogawa, J.D. Gilbert S. Omenn, MD, Ph.D. George Parmer • Former CEO and co - Founder of Sakti3 (acquired by Dyson in 2015 for $90M) • Recognized by President Obama at the White House in 2015 for her technology entrepreneurship • Featured in WSJ, Fortune, Forbes, The Economist, USA Today, The New York Times ; cover of Inc. • Arthur F. Thurnau Professor (UM’s highest teaching honor) at the University of Michigan, 17 years • >100 publications and 100 patents and filings. >100 invited lectures and seminars globally (NIH, NSF, NAE, MIT, Stanford, UC Berkeley, Oxford, Cambridge, etc.) • Boards of the International Council on Clean Transportation (ICCT), Alpha House Family Homeless Shelter, Laidlaw & Company • PhD and MS degrees from Cornell University, BS from the University of Delaware, Mech Engineering Leadership & Board © 2024 Amesite Inc. All Rights Reserved.

V5 & V6 Rollouts Streamlined Infrastructure, Enabled Leaner Team, Agile Launches Cost Reductions Enabled by Best - in - Class Infrastructure 27%) • Reduction in insurance costs (similar coverage) in FY24 ( 28%) Focus is on profitability – by executing efficiently. 13 © 2024 Amesite Inc. All Rights Reserved. *periods for calculation of reductions vary by category $9,750,000 $5,070,000 $4,100,000 $ - $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 FY2022 FY2023 Additional G&A Reductions*: • Reduction in tech & content costs in FY24 ( • Reduction in marketing cost in FY24 ( 24%) FY2024 Annual Operating Expenses 48% 19%

AI: EATING SOFTWARE Amesite uniquely is AI - First. AI powered growth is expected to be meteoric. AI G RO WT H $126B by 2025 https://www.statista.com/statistics/607716/worldwide - artificial - intelligence - market - revenues/#:~:text=The%20global%20artificial%20intelligence%20(AI,process%20auto matio n %2C%20and%20machine%20learnin g. ON L IN E E DU C A T ION GR O W T H $319B by 2025 https://www.researchandmarkets.com/reports/4986759/global - online - education - market - forecasts - from SA A S FOR BU S I N E S S G R O W T H $623B by 2023 https://www.prnewswire.com/news - releases/software - as - a - service - saas - market - could - exceed - 600 - billion - by - 2023 301102655.html#:~:text=According%20to%20Finances%20Online%3A%20%22The,a%20hold%20o f %20such%20system s. Investment Landscape: Amesite Is in Key Growth Areas ONLINE : HERE TO STAY Deployment of AI tools is inevitable. Markets will grow as AI. 14 © 2024 Amesite Inc. All Rights Reserved. PLATFORMS: THE FUTURE OF WORK AI essential for cost control and performance. AI powered companies will beat incumbents.

Why Investors Should Care Amesite (Nasdaq: AMST) has built a high - tech solution that has been relentlessly innovated that allows partners to start generating revenue with professional learning programs instantaneously. Investment Highlights • Unique Business Model for Education • 169% increase in meetings held and a 118% increase in sales opportunities since Business Model Pivot • Proven AI - Powered Product That Meets Enormous Market Need with Industry - Leading 96 - 98% Student Retention • Targeting High Margins with Lean Operations – 50% reduction in SG&A in last FY • Scalable Customer Contracts & Revenue Growth • New Products in B2C • No Corporate Debt • Featured In Fox Business News, Yahoo Finance, CNBC, Bloomberg, Forbes, Business Insider, and other publications CNBC Squawk Box CNBC Squawk Box Mornings with Maria FOX 2 Detroit Newsy Tonight 15 © 2024 Amesite Inc. All Rights Reserved.

THANK YOU. FOL L OW OU R P R OG R E SS FOR R E SOU R C E S FOR IN V E ST M E N T 16 © 2024 Amesite Inc. All Rights Reserved.

v3.24.0.1

Cover	Feb. 20, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 20, 2024
Entity File Number	001-39553
Entity Registrant Name	Amesite Inc.
Entity Central Index Key	0001807166
Entity Tax Identification Number	82-3431718
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	607 Shelby Street
Entity Address, Address Line Two	Suite 700 PMB 214
Entity Address, City or Town	Detroit
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48226
City Area Code	734
Local Phone Number	876-8130
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	AMST
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

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