DETROIT, April 22, 2025 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ:AMST), a leading technology company specializing in the development and marketing of B2C and B2B AI-driven solutions, today announced NurseMagic™ now meets HIPAA requirements for all users. This extension ensures that all usage—individual or enterprise—meets regulatory standards for handling sensitive healthcare information. Amesite announced that it met HIPAA requirements for enterprises late last year, and subsequently reported increased sal ...

Core Insights - Amesite Inc. remains insulated from U.S. trade uncertainties due to its fully remote, U.S.-based workforce and lack of reliance on foreign suppliers [1][2] - The company’s flagship product, NurseMagic™, significantly reduces documentation time for healthcare professionals, enhancing operational efficiency and financial performance [3][4] Company Operations - Amesite operates with a cloud-native infrastructure that avoids international chokepoints, protecting it from tariff impacts [1] - The company is focused on transforming the $330 billion home and healthcare segments with its AI-driven solutions [4] Product Performance - NurseMagic™ reduces charting time from 20 minutes to just 20 seconds, making it a high-performing and cost-effective solution for users [4] - The platform is currently being adopted by larger organizations across clinical and non-clinical teams, driving user growth and revenue [3] Market Position - The demand for NurseMagic™ is increasing due to rising cost pressures in the healthcare industry, positioning Amesite as a leader in the home health sector [3] - The platform serves B2B and B2C users across 50 states and 21 countries, with capabilities for seamless integration into healthcare workflows [4]

Core Insights - Amesite Inc. has launched its non-clinical caregiver tool, NurseMagic™, aimed at enhancing the efficiency of non-clinical healthcare workers [1] - The company has significantly expanded its addressable market for enterprise sales by approximately 50% by focusing on non-clinical staff in home health care and skilled nursing sectors [2] - There has been a dramatic increase in contract adoption and sizes, with hospice provider contracts growing over 3,000% and contract sizes increasing nearly 1,000% in the last three months [3] Company Overview - Amesite is an AI-driven company targeting the $330 billion home and healthcare market, with its flagship product, NurseMagic™, designed to streamline documentation for caregivers, reducing time from 20 minutes to just 20 seconds [5] - The platform is utilized by over 100 professions and is compliant with HIPAA regulations, enhancing operational efficiency and financial performance [5] - NurseMagic™ offers seamless integration into healthcare workflows and supports translations in over 50 languages, serving B2B and B2C users across 50 states and 21 countries [5] Market Dynamics - The U.S. has nearly 3 million home health care and skilled nursing staff, with over 1.5 million being non-clinical healthcare support workers, indicating a substantial market for Amesite's solutions [2] - The company is experiencing accelerated contract closures and increasing deal sizes, providing a competitive advantage to organizations that deploy its platform across their entire workforce [4] - Amesite plans to introduce several new tools in the coming months, driven by customer engagement and market needs [4]

Core Insights - Amesite Inc. has successfully adopted its hospice documentation tool, NurseMagic™, addressing the critical issue of proper documentation in hospice care, which is essential for reimbursement [1] - The hospice care segment is experiencing rapid growth, with a reported 4.61% CAGR, and is projected to increase from $31.21 billion to $39.09 billion by 2030, highlighting the need for improved documentation solutions [4] Company Developments - Over the last three months, deal sizes with hospice providers have surged by nearly 1,000%, and NurseMagic™ sales have increased by over 3,000% as the company ramps up enterprise sales nationally [2][3] - The company has expanded its capabilities to support entire care teams, including nurses and non-clinical staff, enhancing the efficiency of hospice care documentation [3] Market Context - End-of-life care currently accounts for 21% of a person's lifetime healthcare costs, emphasizing the importance of hospice care in improving healthcare efficiency and patient satisfaction [3] - The rapid consumer acceptance of hospice care underscores the growing demand for effective documentation tools, which are critical for the segment's growth [4] Product Features - NurseMagic™ significantly reduces documentation time from 20 minutes to just 20 seconds, improving operational efficiency and financial performance for healthcare providers [5] - The platform is designed to meet HIPAA regulations while providing seamless integration into healthcare workflows, serving B2B and B2C users across 50 states and 21 countries [5]

Core Insights - Amesite Inc. has successfully adopted its hospice documentation tool, NurseMagic™, which addresses the critical issue of proper documentation in hospice care, reducing the risk of unreimbursed charges [1] - The company has experienced a significant increase in deal sizes with hospice providers, growing nearly 1,000% over the last three months, and is now securing entire workforces with its tools [2] - NurseMagic™ sales have surged by over 3,000% in the same period, indicating strong market demand and the effectiveness of the company's enterprise sales strategy [3] Company Developments - The hospice care segment is rapidly growing, currently valued at $31.21 billion and projected to reach $39.09 billion by 2030, with a compound annual growth rate (CAGR) of 4.61% [4] - Amesite's NurseMagic™ significantly reduces documentation time from 20 minutes to just 20 seconds, enhancing operational efficiency for healthcare professionals [5] - The company is expanding its capabilities in the healthcare sector, focusing on larger organizations and utilizing data from a large group of professionals to inform its technology and sales strategies [3][4] Market Context - End-of-life care accounts for 21% of a person's lifetime healthcare costs, highlighting the importance of hospice care in improving healthcare efficiency and patient satisfaction [3] - The demand for improved documentation in hospice care is critical for the segment's growth, as it directly impacts reimbursement and compliance [4]

Core Insights - Amesite Inc. has successfully implemented an automated sales process for its NurseMagic™ enterprise solution, significantly reducing the time to close sales by over 95% [1][5][6] Company Overview - Amesite Inc. specializes in AI-driven solutions for B2C and B2B markets, focusing on the healthcare sector with its flagship product, NurseMagic™ [1][9] - The company aims to transform the $360 billion home, hospice, and healthcare segments, with a long-term vision of a $600 billion opportunity for AI transformation by 2034 [2][8][9] Product Features - NurseMagic™ is designed to reduce documentation burdens, enhance patient communication, and improve workflow efficiency for healthcare professionals [4][9] - The platform allows enterprise customers to initiate and complete subscriptions in minutes, facilitating immediate onboarding and reducing operational risks [3][7] Market Potential - The addressable market for NurseMagic™ spans over 50,000 U.S. businesses across home care, home health care, and hospice sectors, representing a significant growth opportunity [2][6] - As demand for home-based care rises, healthcare organizations are increasingly seeking solutions that streamline operations while maintaining high-quality patient care [6] Sales and Onboarding Efficiency - The automated sales flow enables healthcare organizations to onboard employees onto the NurseMagic™ app quickly, ensuring efficiency gains are realized immediately [5][6] - Customers can easily manage and scale their NurseMagic™ subscriptions, adding licenses as their teams grow [3][5]

Financial Performance - The company incurred a net loss of $2,029,682 for the six months ended December 31, 2024, and a cumulative net loss of $39.9 million since its incorporation on November 14, 2017[91][96]. - Revenue for the six months ended December 31, 2024, was approximately $24,000, a significant decrease from $105,000 for the same period in 2023[114]. - Interest income for the six months ended December 31, 2024, was approximately $28,500, compared to $110,000 for the same period in 2023[124]. - One customer accounted for approximately 94% of total revenue for the six months ended December 31, 2024[112]. Cash and Financing - As of December 31, 2024, the company's cash and cash equivalents totaled $519,706, down from $2,071,016 as of June 30, 2024[107]. - The company has raised approximately $11,760,000 from private placement financing transactions since its inception, with a public offering on January 8, 2025, generating approximately $3.08 million in cash proceeds[97][100]. Expenses - General and administrative expenses increased to approximately $1,438,000 for the six months ended December 31, 2024, compared to approximately $882,000 for the same period in 2023[119]. - Technology and content development expenses decreased to approximately $352,000 for the six months ended December 31, 2024, from approximately $664,000 in the same period in 2023[121]. - Sales and marketing expenses were approximately $293,000 for the six months ended December 31, 2024, down from approximately $464,000 for the same period in 2023[123]. - Capital asset additions for the six months ended December 31, 2024, were $212,600, compared to $118,000 in the same period of 2023, indicating a significant increase in capital expenditures[126]. Compliance and Regulatory Issues - The Company received a Nasdaq deficiency letter on November 26, 2024, due to non-compliance with the Stockholders' Equity Requirement of $2,500,000[127]. - The Company submitted a plan to regain compliance on January 10, 2025, and believes it has regained compliance following a public offering[128]. - Nasdaq confirmed compliance with the Stockholders' Equity Requirement on January 23, 2025, but warned of potential delisting if compliance is not evidenced in the next periodic report[128]. Internal Controls - Management concluded that disclosure controls and procedures were not effective due to identified material weaknesses in internal control over financial reporting[132]. - Specific material weaknesses included deficiencies in reviewing and approving journal entries and ensuring accurate stock compensation expense calculations[134]. - The Company is taking steps to remediate material weaknesses, including documenting processes and controls for business transactions[138]. - There were no changes in internal control over financial reporting that materially affected the Company's controls during the period ended December 31, 2024[137]. - The Company plans to formalize processes for monitoring internal control over financial reporting to improve overall effectiveness[138]. - There is no assurance that current or planned remediation measures will be sufficient to address identified material weaknesses[136]. Going Concern - The company has substantial doubt about its ability to continue as a going concern due to ongoing net losses and negative cash flows[92][105].

DETROIT, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Amesite, Inc. (NASDAQ:AMST), a pioneering technology company specializing in the development and marketing of B2C and B2B AI-driven solutions, will be at NASDAQ tomorrow with CEO Dr. Ann Marie Sastry for a media event to include appearing on the NASDAQ Tower in Times Square. NASDAQ is recognizing Amesite's recent progress in its business plan in launching its proprietary AI app, NurseMagic™, targeting nursing professionals and home health care workers in the health ...

Core Insights - Amesite, Inc. is participating in The Microcap Conference 2025, focusing on growth opportunities for companies and investors [1] - The CEO, Dr. Ann Marie Sastry, will present updates on the NurseMagic™ app and discuss growth strategies [2] - NurseMagic™ is an AI-powered mobile application aimed at enhancing the efficiency of nursing professionals and home health care workers [3][4] Company Overview - Amesite, Inc. specializes in B2C and B2B AI-driven solutions, leveraging proprietary AI infrastructure [4] - The NurseMagic™ app streamlines nursing documentation, improves patient communication, and provides personalized guidance for nurses [4]

Core Viewpoint - Amesite Inc. has successfully closed a public offering of 1,201,667 shares at a price of $3.00 per share, raising approximately $3.6 million, with participation from certain officers and directors totaling around $1.26 million [1][2]. Group 1: Offering Details - The public offering was underwritten on a "best efforts" basis, with Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC serving as joint book-running managers [2]. - The net proceeds from the offering will be allocated for general corporate purposes, capital expenditures, working capital, and general and administrative expenses [2]. Group 2: Company Overview - Amesite Inc. specializes in developing and marketing AI-driven solutions for both B2C and B2B markets, leveraging proprietary AI infrastructure [5]. - The company offers applications such as NurseMagic™, a mobile app designed for health and care professionals, which aids in nursing documentation, enhances patient communication, and provides personalized guidance [5]. Group 3: Regulatory Information - A shelf registration statement related to the public offering was filed with the SEC and declared effective on December 18, 2024 [3]. - A preliminary prospectus supplement and accompanying prospectus for the offering are available on the SEC's website [3].