Amesite Inc.

What they do

Amesite Inc. operates a suite of products and services collectively referred to as its 'Site,' which includes software, hardware, content and technology services such as a website, data handling, communication and advanced analytics. Its website describes NurseMagic, available at nursemagic.ai and via a mobile app, as a product owned and operated by the company. The company is developing its customer base and has not established a revenue stream sufficient to cover its expenses.

Revenue drivers

• NurseMagic — The only named product in the filing excerpts, described as a product owned and operated by Amesite, available via website and mobile app; the filings provide no separate revenue figure for it.
• Site products and services — The company describes its 'Site' as a blend of software, hardware, content and technology services including a website, data handling, communication and advanced analytics; no segment-level revenue is disclosed.

Recent performance

Annual revenue fell from $845,009 in fiscal 2023 to $166,881 in fiscal 2024 and $110,459 in fiscal 2025, while quarterly revenue for the three months ended March 31, 2026 was $83,332. The company reported net losses of $678,000 for the three months and $2,052,875 for the nine months ended March 31, 2026, and a cumulative net loss of $43.5 million from inception (November 14, 2017) through March 31, 2026. Cash, cash equivalents and restricted cash totaled $740,711 as of March 31, 2026, against total assets of $1.5 million and shareholder equity of $1.3 million. Operating cash flow was negative $2.5 million in fiscal 2025, continuing a string of negative operating cash flow years.

Strategy

Management states its plan to address going-concern conditions is to generate cash by completing financing transactions, which may include offerings of common stock. In January 2025 the company closed a public offering with net proceeds of approximately $3.08 million, and on April 28, 2026 it closed a registered direct offering, a concurrent private placement and an insider-led private placement for net cash proceeds of approximately $2.2 million. The company continues to develop its customer base and describes planned expansions and improvements to its Site. Management acknowledges these financing plans are subject to market conditions, outside its control, and cannot be deemed probable.

Risks

• Going concern — Management concluded there are conditions raising substantial doubt about the company's ability to continue as a going concern, and that its financing plans do not alleviate that doubt.
• Revenue decline — Annual revenue fell from $845,009 in fiscal 2023 to $166,881 in fiscal 2024 and $110,459 in fiscal 2025.
• Persistent losses and cash burn — The company reported a $2,052,875 net loss for the nine months ended March 31, 2026, a $43.5 million cumulative loss since inception, and negative operating cash flow of $2.5 million in fiscal 2025.
• Dependence on external financing — Management's plan to fund operations relies on completing offerings of common stock, which are subject to market conditions and outside the company's control.

Outlook

Management states that it believes it may not have sufficient cash and cash equivalents to maintain planned operations for the next twelve months following issuance of the March 31, 2026 financial statements. Management's stated plans include generating cash through financing transactions such as common stock offerings, but the company says these plans are not within its control and cannot be deemed probable. No revenue or profitability guidance is provided in the excerpts.