Amesite Inc. (NASDAQ: ADTX) Announces That it Has Regained Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

Amesite Inc. (NASDAQ: AMST) has announced that it has regained compliance with Nasdaq's listing requirements after meeting the minimum bid price of $1.00 per share for 10 consecutive trading days. This confirmation from Nasdaq follows a previous non-compliance notification on March 8, 2022. Dr. Ann Marie Sastry, CEO of Amesite, expressed satisfaction with this achievement, emphasizing the company's focus on increasing revenue and leveraging generative AI to enhance platform capabilities and customer efficiency. Amesite's online learning platform serves various sectors, including education and business.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Maintained a minimum closing bid price of $1.00 for 10 consecutive trading days.

Negative

• None.

DETROIT, March 09, 2023 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a leading artificial intelligence software company offering a cloud-based learning platform that delivers 99% learner retention for business and education markets, announced today that it has received confirmation from The Nasdaq Stock Market LLC (“Nasdaq”) that it has regained compliance with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2), meets the stockholders’ equity requirement in Nasdaq Listing Rule 5550(b)(1) and meets all other applicable criteria for continued listing.

Amesite had previously been notified by Nasdaq on March 8, 2022 that it was not in compliance with the minimum bid price requirement because its common stock failed to maintain a minimum bid price of $1.00 per share. In order to regain compliance with the Rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on March 7, 2023, the tenth consecutive trading day when the closing bid price of the Company's common stock was over $1.00.

Dr. Ann Marie Sastry, Amesite’s CEO said, “We are pleased to regain compliance with the Nasdaq listing requirements and continue to focus on generating greater revenue through larger deals, as we drive to profitability. Leveraging generative AI is enabling us to simultaneously grow our platform capabilities, and drive scale and efficiency for our customer base.”

About Amesite Inc.

Amesite delivers its scalable, customizable, white-labeled online learning platform to universities, businesses, museums, and government agencies, enabling them to deliver outstanding digital learning. Amesite provides a single system that combines eCommerce, instruction, engagement, analytics, and administration using best-in-class infrastructure to serve multi-billion-dollar online learning markets. For more information, visit www.amesite.io.

Forward-Looking Statements
This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
Christine Petraglia
TraDigital IR
(917) 633-8980
christine@tradigitalir.com

FAQ

What recent compliance news did Amesite receive?

Amesite regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share.

When did Amesite achieve compliance with Nasdaq requirements?

Amesite achieved compliance on March 7, 2023.

What is the stock price requirement for Nasdaq compliance?

The minimum bid price requirement for Nasdaq compliance is $1.00 per share.

Who is the CEO of Amesite?

Dr. Ann Marie Sastry is the CEO of Amesite.