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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>As filed with the Securities and Exchange Commission on June
28, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
Number 333-[&#9679;]</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WASHINGTON,
D.C. 20549 </B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
S-1 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REGISTRATION
STATEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNDER
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THE
SECURITIES ACT OF 1933 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Amesite
Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; border-bottom: Black 1.5pt solid"><B>7372</B></TD>
    <TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>82-1433756</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
    or other jurisdiction of </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary
    Standard Industrial</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.
    Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporation
    or organization)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Classification
    Code Number)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 1.5pt; padding-right: 1.5pt; padding-left: 1.5pt; text-align: center">Identification Number)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>205
East Washington Street,</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Suite B</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ann Arbor, MI 48104</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(650)
516-7633</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address,
including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amesite
Inc.</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Attn: Ann Marie Sastry</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>205 East Washington Street,</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Suite
B</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ann
Arbor, MI 48104</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(650)
516-7633</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
address, including zip code, and telephone number, including area code, of agent for service)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Copies
to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Terence L. Kelly, Esq.<BR>
Anthony W. Epps, Esq.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dorsey &amp; Whitney LLP</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1400 Wewatta Street, Suite 400</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Denver, Colorado 80202</P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>(303) 629-3400</B></P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>From
time to time after this registration statement is declared effective.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Approximate
date of commencement of proposed sale to the public)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933, check the following box. &#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please
check the following box and list the Securities Act registration statement number of the earlier effective registration statement
for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting
company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo;
&ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act. (Check one):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 1.5pt 1.5pt 8pt; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
    Accelerated&nbsp;filer&nbsp;&#9744;</FONT></TD>
    <TD STYLE="padding: 1.5pt 1.5pt 8pt; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
    filer&nbsp;&#9744;</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 10pt Times New Roman, Times, Serif; width: 18%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated
                                         Filer &#9746;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD>
    <TD STYLE="padding: 1.5pt 1.5pt 8pt; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 23%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller
    reporting company&nbsp; &#9746;</FONT></TD>
    <TD STYLE="padding: 1.5pt 1.5pt 8pt; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 21%; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
    growth company&nbsp; &#9746;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom-width: 0in; border-bottom-color: Black"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom-width: 0in; border-bottom-color: Black; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 7(a)(2)(B) of the Securities Act.
&#9744;</FONT></P>

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<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font-weight: bold; text-align: center; border-bottom: Black 4pt double">CALCULATION OF REGISTRATION
    FEE</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Title of Each Class of Securities To be Registered</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount to be Registered(1)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Proposed Maximum Offering
    Price Per Unit(2)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Proposed Maximum Aggregate
    Offering Price(2)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount of Registration Fee</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; padding-bottom: 4pt; text-indent: -0.15in; padding-left: 0.15in">Common Stock, par value $0.0001 per
    share</TD><TD STYLE="width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; text-align: right">292,114</TD><TD STYLE="width: 1%; padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; text-align: right">1.50</TD><TD STYLE="width: 1%; padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; text-align: right">438,171</TD><TD STYLE="width: 1%; padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; text-align: right">53.11</TD><TD STYLE="width: 1%; padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Represents shares
                                         offered by the selling stockholders. Includes an indeterminable number of additional
                                         shares of common stock, pursuant to Rule 416 under the Securities Act of 1933, as amended,
                                         that may be issued to prevent dilution from stock splits, stock dividends or similar
                                         transactions that could affect the shares to be offered by the selling stockholders.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated
                                         solely for the purpose of calculating the amount of the registration fee pursuant to
                                         Rule 457(g) under the Securities Act of 1933, as amended, based upon the original sale
                                         price of the shares of common stock sold at a price per share of $1.50 in a private placement
                                         offering with closings on April 27, 2018 and June 8, 2018.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><B>The registrant hereby amends this
Registration Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a
further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with
Section 8(a) of the Securities Act of 1933, as amended, or until this Registration Statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.</B></P>


<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red">The
information in this prospectus is not complete and may be changed. The selling stockholders may not sell these securities pursuant
to this prospectus until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus
is not an offer to sell these securities and is not soliciting offers to buy these securities in any jurisdiction where the offer
or sale is not permitted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red">SUBJECT
TO COMPLETION, DATED JUNE 28, 2019</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRELIMINARY
PROSPECTUS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">292,114
Shares of Common Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus relates to the offering and resale by the selling stockholders identified herein of up to 292,114 shares of common
stock of Amesite Inc., par value $0.0001 per share, which includes an aggregate 292,114 shares of common stock issuable upon the
exercise of warrants issued to Laidlaw &amp; Company (UK) Ltd. as compensation for placement agent services provided to the Company
in connection with its April 28, 2018 and June 8, 2018 private placement. All of the shares of common stock being offered, when
sold, will be sold by the selling stockholders. Other than what we may receive for the exercise of the warrants, we will not receive
any proceeds from the sale of these shares of common stock by the selling stockholders. The selling stockholders may sell the
shares of our common stock offered by this prospectus from time to time through the means described in this prospectus under the
caption &ldquo;Plan of Distribution.&rdquo; For a list of the selling stockholders, see the section entitled &ldquo;Selling Stockholders&rdquo;
on page 36. We have borne and will continue to bear the costs relating to the registration of these shares of common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is not currently, and there has never been, any established public trading market for any of our securities. Our securities are
not currently eligible for trading on any national securities exchange, including the NASDAQ Stock Market, or any over-the-counter
markets. We cannot assure you that our securities will become eligible for trading on any exchange or market. In connection with
this offering, we have arranged for a registered broker-dealer to apply to have our common stock quoted on the OTCBB or another
over-the-counter system not including the OTC Pink Market. Until such time as our common stock is quoted on the OTCBB or another
over-the-counter system not including the OTC Pink Market, the selling stockholders identified herein may only sell their shares
of our common stock pursuant to this prospectus at a fixed price of $1.50 per share, for a total offering amount of $438,171.
At and after such time, the selling stockholders may sell all or a portion of their shares through public or private transactions
at prevailing market prices or at privately negotiated prices.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may amend or supplement this prospectus from time to time by filing amendments or supplements as required. You should read the
entire prospectus and any amendments or supplements carefully before you make your investment decision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company&rdquo; as defined under the federal securities laws, and, as such, are eligible for reduced
public company reporting requirements. See &ldquo;Prospectus Summary&mdash;Emerging Growth Company.&rdquo;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
in our common stock involves a high degree of risk. Before making an investment decision, please read &ldquo;Risk Factors&rdquo;
beginning on page 6 of this prospectus.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
date of this prospectus is [&#9679;], 2019</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="toc"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TABLE
OF CONTENTS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABOUT
    THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="width: 10%; text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS
    SUMMARY</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
    OFFERING</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK
    FACTORS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION
    OF OUR BUSINESS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIRECTORS
    AND EXECUTIVE OFFICERS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE
    AND DIRECTOR COMPENSATION</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN
    RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE
    OF PROCEEDS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIVIDEND
    POLICY</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_013"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DETERMINATION
    OF OFFERING PRICE</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_014"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MARKET
    INFORMATION FOR OUR COMMON STOCK</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_015"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_016"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SELLING
    STOCKHOLDERS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_017"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLAN
    OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_018"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION
    OF CAPITAL STOCK</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_020"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL
    MATTERS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_021"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_022"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE
    YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_099"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FINANCIAL STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_024"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXHIBIT
    INDEX</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">II-4</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_025"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURES</FONT></A></TD>
    <TD STYLE="text-align: center; padding-top: 0in; padding-bottom: 0; font: 10pt Times New Roman, Times, Serif">II-5</TD></TR>
</TABLE>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABOUT
THIS PROSPECTUS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should rely only on the information contained in this prospectus or contained in any prospectus supplement or free writing prospectus
filed with the Securities and Exchange Commission, or the SEC. Neither we nor the selling stockholders have authorized anyone
to provide you with additional information or information different from that contained in this prospectus. The selling stockholders
are offering to sell, and seeking offers to buy, shares of our common stock only in jurisdictions where offers and sales are permitted.
You should assume that the information appearing in this prospectus, any related prospectus supplement and any related free writing
prospectus is accurate only as of the respective dates of those documents. Our business, financial condition, results of operations
and prospects may have changed since those dates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
investors outside the United States, neither we nor the selling stockholders have done anything that would permit this offering
or possession or distribution of this prospectus, any prospectus supplement or free writing prospectus filed with the SEC, in
any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States
who come into possession of this prospectus, any prospectus supplement or free writing prospectus must inform themselves about,
and observe any restrictions relating to, the offering of the shares of common stock and the distribution of this prospectus,
any prospectus supplement or free writing prospectus outside the United States.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_002"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus, including the sections entitled &ldquo;Risk Factors,&rdquo; &ldquo;Management&rsquo;s Discussion and Analysis of Financial
Condition and Results of Operations&rdquo; and &ldquo;Description of Our Business,&rdquo; contains express or implied forward-looking
statements that are based on our management&rsquo;s beliefs and assumptions and on information currently available to our management.
All statements other than statements of historical fact contained in this prospectus, in any related prospectus supplement and
in any related free writing prospectus are forward-looking statements. In some cases, you can identify forward-looking statements
by terminology such as &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;will,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo;
&ldquo;expect,&rdquo; &ldquo;plan,&rdquo;, &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;intend,&rdquo;
&ldquo;predict,&rdquo; &ldquo;seek,&rdquo; &ldquo;contemplate,&rdquo; &ldquo;project,&rdquo; &ldquo;continue,&rdquo; &ldquo;potential,&rdquo;
&ldquo;ongoing&rdquo; or the negative of these terms or other comparable terminology. These forward-looking statements include,
but are not limited to, statements about:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         planned online machine learning platform&rsquo;s ability to improve first-year products
                                         and enable universities to offer timely, popular courses in their own physical facilities,
                                         without becoming software tech companies;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         planned online machine learning platform&rsquo;s ability to result in opportunistic incremental
                                         revenue for colleges and universities, and improved ability to garner state funds due
                                         to increased retention and graduation rates through use of machine learning and natural
                                         language processing;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to obtain additional funds for our operations;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to obtain and maintain intellectual property protection for our technologies
                                         and our ability to operate our business without infringing the intellectual property
                                         rights of others;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         reliance on third parties to conduct our business and studies;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         reliance on third party designers, suppliers, and partners to provide and maintain our
                                         learning platform;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to attract and retain qualified key management and technical personnel;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         expectations regarding the time during which we will be an emerging growth company under
                                         the Jumpstart Our Business Startups Act, or Jobs Act;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         financial performance;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         impact of government regulation and developments relating to our competitors or our industry;
                                         and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">other
                                         risks and uncertainties, including those listed under the caption &ldquo;Risk Factors.&rdquo;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
statements relate to future events or our future operational or financial performance, and involve known and unknown risks, uncertainties
and other factors that may cause our actual results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to
differ materially from current expectations include, among other things, those listed under the section titled &ldquo;Risk Factors&rdquo;
and elsewhere in this prospectus, in any related prospectus supplement and in any related free writing prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
forward-looking statement in this prospectus, in any related prospectus supplement and in any related free writing prospectus
reflects our current view with respect to future events and is subject to these and other risks, uncertainties and assumptions
relating to our business, results of operations, industry and future growth. Given these uncertainties, you should not place undue
reliance on these forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read
this prospectus, any related prospectus supplement and any related free writing prospectus and the documents that we reference
herein and therein and have filed as exhibits hereto and thereto completely and with the understanding that our actual future
results may be materially different from any future results expressed or implied by these forward-looking statements. Except as
required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information
becomes available in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus, any related prospectus supplement and any related free writing prospectus also contain or may contain estimates, projections
and other information concerning our industry, our business and the markets for our products, including data regarding the estimated
size of those markets and their projected growth rates. Information that is based on estimates, forecasts, projections or similar
methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and
circumstances reflected in this information. Unless otherwise expressly stated, we obtained these industry, business, market and
other data from reports, research surveys, studies and similar data prepared by third parties, industry and general publications,
government data and similar sources. In some cases, we do not expressly refer to the sources from which these data are derived.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<DIV STYLE="padding: 3pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_003"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS
SUMMARY</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
summary highlights certain information about us, this offering and selected information contained elsewhere in this prospectus.
This summary is not complete and does not contain all of the information that you should consider before deciding whether to invest
in the securities covered by this prospectus. For a more complete understanding of our company and this offering, we encourage
you to read and consider carefully the more detailed information in this prospectus, any related prospectus supplement and any
related free writing prospectus, including the information set forth in the section titled &ldquo;Risk Factors&rdquo; in this
prospectus, any related prospectus supplement and any related free writing prospectus in their entirety before making an investment
decision.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
references to &ldquo;Amesite OpCo&rdquo; herein refer to Amesite Inc., a privately held Delaware corporation, which changed its
name to &ldquo;Amesite Operating Company&rdquo;. Unless otherwise stated or the context otherwise requires, references to &ldquo;Amesite,&rdquo;
the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;us,&rdquo; or similar terms refer to Amesite Inc. and our
wholly-owned subsidiary, Amesite Operating Company. Amesite Operating Company holds all material assets and conducts all business
activities and operations of the Company.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overview</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are a development stage artificial intelligence software company targeting the college course market. We are creating a cloud-based
platform for college and university courses to be delivered to learners online and in hybrid online / on campus formats. We plan
to use machine learning to provide a novel, mass customized experience to learners. Our intended customers are universities and
colleges, and we are passionate about improving the learner experience and learner outcomes in college courses, and improving
colleges&rsquo; ability to create and deliver both. To date, we have not developed a marketable product nor have we generated
any revenues. There can be no assurance that we will ever develop a marketable product or generate revenues. See &ldquo;Risk Factors.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Strategy</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will work closely with our customers to deliver college courses, and share the revenue that our customers receive from learners.
We will convert customer content onto our proprietary platform, and use the proprietary data we collect on learner behavior and
responses with their consent, to deliver to learners engaging, effective college courses. We aim to reduce college operating costs,
and improve learner experience and performance. Customers will generate content, admit and enroll learners, approve of assessments,
grading and engagement techniques, and deliver grades and credits to learners. Courses will be branded according to customer norms,
and will be marketed collaboratively, as customer products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Proprietary Technology</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large,
lecture-based college courses offer the opportunity to collect substantial datasets impractical for instructors to collect, but
highly relevant to individuals&rsquo; learning experience and outcomes. College instructors are unable to customize delivery of
information based on learners&rsquo; habits, given their present inability to collect and analyze learners&rsquo; data. We plan
to implement machine learning algorithms to enable mass customized learning in higher education, freeing instructors from routine
analysis and enabling delivery of information only possible with specific data on behaviors and preferences of individual learners.
Learner data will be collected with learner permission, and information about learner behavior, study preferences and preference
for types of material delivered as part of college courses, will be used to improve learning outcomes and learner experiences.
We will validate algorithms using both offline and online testing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
correlating learner behaviors with specific outcomes as identified by qualified instructors, we will train our algorithms specifically
for important college course outcomes, enabling it to be a useful tool for instructors. We believe that the combination of information
that will be collected through our educational products, and outcomes measured using our online learning products will be unique,
and constantly improved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will never sell or distribute our learner data to third parties without the explicit permission of learners. We will not deliver
unwanted content or advertising to learners or to customer personnel. Our proprietary technology is developed solely for purposes
of improving learner experiences and outcomes, and improving the ability of college and university instructors and other staff
to deliver outstanding educational products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>
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<DIV STYLE="padding: 3pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Research and Development Programs</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will use advanced technologies to create effective and accessible higher learning environments. We seek to improve the college
experience by targeting the earliest, foundational, core courses that are required in order for learners to achieve college degrees.
These courses form the building blocks for higher education learning and professional contribution. Our research and development
programs will expand continuously based on learner preferences, outcomes and the desires of our customer colleges and universities.
Some of these will include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Improvements
                                         in learner engagement with cloud-based platforms.</I> We will continuously gather data
                                         on how learners engage with our platform and other online platforms, and conduct research
                                         and development to create and incorporate useful tools for learning on our platform.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Improvements
                                         in instructor experience using our platform.</I> We will continuously develop tools designed
                                         to improve the ability of our customers to deliver timely and relevant content, deliver
                                         assessments which are fair, correctly represent educational objectives and give repeatable
                                         outcomes when employed on the platform.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Algorithms
                                         for optimizing learning products for those pursuing college degrees.</I> We will conduct
                                         research to improve the efficiency and robustness of our algorithms, employing mixed
                                         models to deliver validated tools. We will use our algorithms to deliver solutions for
                                         seeking courses, determining their transferability, and determining their applicability
                                         toward degrees.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Qualification
                                         of information for use by learners at the college level.</I> We plan to provide both
                                         our customers and our learners with the constantly improving ability to find and integrate
                                         qualified information into products on our platform, and maximize learner ability to
                                         utilize qualified information, contextualized by structured college courses designed
                                         to offer learners the most carefully curated, most relevant, timely and engaging materials
                                         in every discipline in which we offer products.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Factors</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to implement our current business strategy is subject to numerous risks, as more fully described in the section titled
&ldquo;Risk Factors.&rdquo; These risks include, among others, the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         have no operating history in online programs and may fail to gain initial customers;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         have not developed a marketable product and we have not generated any revenue since inception.
                                         We cannot assure you that we ever will. We will incur significant losses in launching
                                         products and we may not realize sufficient subscriptions or profits in order to sustain
                                         our business;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
                                         is substantial doubt about our ability to continue as a going concern;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                         business model relies on adequate revenue sharing with colleges and universities, for
                                         online delivery of their courses. If we fail to attract customers, or to negotiate agreements
                                         with them that provide us with sustainable revenue, it will impair our ability to operate
                                         and grow our business;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         will be relying on our customers, which are colleges and universities, to drive enrollment
                                         and revenue;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         will face intense competition, which may cause pricing pressures, decreased gross margins
                                         and loss of market share and may materially and adversely affect our business, financial
                                         condition and results of operations;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         are dependent on the services of certain key management personnel, employees, advisors
                                         and consultants. If we are unable to retain or motivate such individuals or hire qualified
                                         personnel, we may not be able to grow effectively;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         have risk factors within and outside of our control that may inhibit our ability to deliver
                                         products on our platform;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         may have risks related to our financial condition;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                         our security measures or those of our future business partners are breached or fail and
                                         result in unauthorized disclosure of data, we could lose customers and/or fail to attract
                                         new customers. Such breach or failure could also harm our reputation and expose us to
                                         protracted and costly lawsuits;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         may have risks related to regulatory requirements;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         may have risks related to managing any growth we may experience;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         face risks and challenges related to any implementation of blockchain technology into
                                         our business to protect user information;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         face additional risks relating to our reliance on blockchain solutions provided by third-parties;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         offering price was arbitrarily determined and you may not be able to sell the securities
                                         you purchase in this offering at the offering price or at any price;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>
</DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company&rdquo; and are thus, subject to reporting requirements that are less rigorous than the Securities
Exchange Act of 1934 rules for companies that are not &ldquo;emerging growth companies.&rdquo; Our investors could receive less
information than they might expect to receive from more mature public companies.;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
                                         is currently no market for our common stock and we cannot assure you that any market
                                         will ever develop. You may therefore be unable to re-sell shares of our common stock
                                         at times and prices that you believe are appropriate;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                         common stock may not be eligible for listing or quotation on any securities exchange;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         future issuance of equity or of other securities that are convertible into equity may
                                         dilute your investment and reduce your equity interest;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
                                         we do not intend to pay dividends, stockholders will benefit from an investment in our
                                         common stock only if it appreciates in value;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                         principal stockholders and management own a significant percentage of our stock and will
                                         be able to exert significant control over matters subject to stockholder approval;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                         Certificate of Incorporation provides that the Court of Chancery of the State of Delaware
                                         is the exclusive forum for certain litigation that may be initiated by our stockholders,
                                         including claims under the Securities Act, which could limit our stockholders&rsquo;
                                         ability to obtain a favorable judicial forum for disputes with us or our directors, officers
                                         or employees; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
                                         provisions of our Certificate of Incorporation and Delaware law make it more difficult
                                         for a third party to acquire us and make a takeover more difficult to complete, even
                                         if such a transaction were in stockholders&rsquo; interest.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Private
Placement</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 27, 2018 and June 8, 2018, we sold an aggregate of 2,921,145 shares of our common stock pursuant to a private placement
offering, or the Private Placement, at a purchase price of $1.50 per share. In connection with the Private Placement, we agreed
to (i) pay Laidlaw and Company (UK) Ltd., a U.S. registered broker-dealer, or the Placement Agent, a cash commission of 10% of
the gross proceeds raised from investors in the Private Placement introduced by them, and (ii) issue to the Placement Agent, warrants
to purchase that number of shares of common stock equal to 10% of the number of shares of common stock sold to investors in the
Private Placement introduced by them, with a term of five years from the closing date of the Private Placement, and an exercise
price of $1.50 per share, or the Placement Agent Warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result of the foregoing, we paid the Placement Agent an aggregate commission of approximately $438,172 and issued it Placement
Agent Warrants to purchase up to an aggregate of 292,114 shares of our common stock in connection with the Private Placement.
We also reimbursed the Placement Agent $80,000 of expenses incurred in connection with the Private Placement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
Growth Company</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company&rdquo; as defined in the JOBS Act. We could remain an emerging growth company for up to
five years, although circumstances could cause us to lose that status earlier, including if the market value of our common stock
held by non-affiliates exceeds $700.0 million as of the end of our most recently completed second fiscal quarter, if we have total
annual gross revenue of approximately $1.1 billion or more during any fiscal year, or if we issue more than $1.0 billion in non-convertible
debt during any three-year period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
an emerging growth company, we may take advantage of specified reduced disclosure and other requirements that are otherwise generally
applicable to public companies. These provisions include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">only
                                         two years of audited financial statements in addition to any required unaudited interim
                                         financial statements with correspondingly reduced &ldquo;Management&rsquo;s Discussion
                                         and Analysis of Financial Condition and Results of Operations&rdquo; disclosure;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">option
                                         of delaying the adoption of certain new or revised financial accounting standards;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reduced
                                         disclosure about our executive compensation arrangements;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">no
                                         requirement that we hold non-binding advisory votes on executive compensation or golden
                                         parachute arrangements; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>
</DIV>
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<DIV STYLE="padding: 3pt; border: Black 1.5pt solid; width: 98%"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">exemption
                                         from the auditor attestation requirement in the assessment of our internal control over
                                         financial reporting.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have taken advantage of some of these reduced disclosure and other requirements, and thus the information we provide to you may
be different than you might get from other public companies in which you hold shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Corporate Information</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
were originally incorporated in the State of Delaware on April 6, 2017 under the name &ldquo;Lola One Acquisition Corporation.&rdquo;
Prior to the Merger, Lola One was a &ldquo;shell&rdquo; company registered under the Securities Exchange Act of 1934, as amended,
or the Exchange Act, with no specific business plan or purpose until it began operating the business of Amesite OpCo through the
Merger on April 27, 2018. Amesite OpCo was originally incorporated in the State of Delaware on November 14, 2017. Amesite OpCo
is a development stage artificial intelligence software company targeting the college course market. Amesite OpCo is creating
a cloud-based platform for college and university courses to be delivered to learners online and in hybrid online / on campus
formats. Immediately after giving effect to the Merger and the initial closing of the Private Placement, the business of Amesite
OpCo became our business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
corporate headquarters is located at 205 East Washington Street, Suite B, Ann Arbor, MI 48104, and our telephone number is (650)
516-7633. We maintain a website at www.amesite.com. Our filings with the SEC will be available free of charge through the website
as soon as reasonably practicable after being electronically filed with or furnished to the SEC. Information contained in our
website is not a part of, nor incorporated by reference into, this prospectus or our other filings with the SEC, and should not
be relied upon.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
trademarks, service marks and trade names appearing in this prospectus are the property of their respective holders. Use or display
by us of other parties&rsquo; trademarks, trade dress, or products in this prospectus is not intended to, and does not, imply
a relationship with, or endorsements or sponsorship of, us by the trademark or trade dress owners.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
</DIV>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<DIV STYLE="padding: 3pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_004"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
OFFERING</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock offered by selling stockholders</FONT></TD>
    <TD STYLE="width: 64%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">292,114
    shares of common stock</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock outstanding</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif">13,490,585
shares of common stock</P></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use
    of proceeds</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will not receive any proceeds from the sale of the shares of common stock offered hereby by the selling stockholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offering
    price</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    selling stockholders may only sell their shares of our common stock pursuant to this prospectus at a fixed price of $1.50
    per share until such time as our common stock is quoted on the OTCBB, or another public trading market for our common stock
    otherwise develops. At and after such time, the selling stockholders may sell all or a portion of their shares through public
    or private transactions at prevailing market prices or at privately negotiated prices.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk
    factors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    should read the &ldquo;Risk Factors&rdquo; section beginning on page 6 of this prospectus for a discussion of factors to consider
    carefully before deciding to invest in shares of our common stock.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market
    for our common stock</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
    is not now and there has never been any market for our common stock and an active market may never develop. In connection
    with this offering, we have arranged for a broker-dealer to apply to have our common stock quoted on the OTCBB or another
    over-the-counter system. In the future, we intend to seek to have our common stock quoted on a national securities exchange.
    However, we may not be successful in having our common stock quoted on an over-the-counter market or listed on a national
    securities exchange.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The number of shares of common stock outstanding is based on an aggregate of 13,490,585 shares outstanding
as of June 28, 2019, and excludes equity awards exercisable into an aggregate of 1,091,833 shares of our common stock.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_005"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK
FACTORS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
in our common stock involves a high degree of risk. In addition to the other information set forth in this prospectus, you should
carefully consider the risk factors discussed below when considering an investment in our common stock and any risk factors that
may be set forth in any related prospectus supplement, any related free writing prospectus, as well as the other information contained
in this prospectus, any related prospectus supplement and any related free writing prospectus. If any of the following risks occur,
our business, financial condition, results of operations and prospects could be materially and adversely affected. In that case,
the market price of our common stock could decline and you could lose some or all of your investment. Additional risks and uncertainties
not presently known to us or that we currently deem immaterial also may impair our business operations.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to our Business</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have no operating history in online programs and may fail to gain initial customers.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
were incorporated in November 2017, and have no operating history in offering online courses. Historically, we have had no assets
other than cash. If our assumptions about market needs are incorrect, we may fail to launch courses and gain initial customers.
Even if we launch courses in a timely manner, our assumptions regarding recovery of upfront costs and growth of revenue may differ
substantially from reality, in which case we will fail to achieve our revenue goals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We have not developed a marketable
product and we have not generated any revenue since inception. We cannot assure you that we ever will. We will incur significant
losses in launching products and we may not realize sufficient subscriptions or profits in order to sustain our business.</I></B></P>



<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not developed a marketable product and we have not generated any revenue since inception. There can be no assurance that
we will ever develop a marketable product or generate any revenue. We are subject to the substantial risk of failure facing businesses
seeking to develop and commercialize new products and technologies. Should we successfully develop our platform, we will expend
significant capital in launching our first courses. We will also incur substantial accounting, legal and other overhead costs
as a public company. If our courses are unsuccessful, result in insufficient revenue or result in the Company not being able to
sustain revenue, we will be forced to reduce expenses, which may result in an inability to gain new customers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is substantial doubt about our ability to continue as a going concern.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are in the early
stages of developing our platform and have not completed our efforts to establish a stabilized source of revenue sufficient to
cover our costs over an extended period of time. As of December 31, 2017, June 30, 2018 and March 31, 2019, we had net losses of
$31,465, $490,102 and $948,261, respectively. From November 14, 2017 (being the date of incorporation) through March 31, 2019,
we have incurred net losses of $2,668,924. We have concluded that these conditions raise substantial doubt about our ability to
continue as a going concern. There is uncertainty regarding our ability to implement our business plan and to grow our business
to a greater extent than we can with our existing financial resources without additional financing. Our long-term future growth
and success is dependent upon our ability to raise additional capital and implement our business plan. There is no assurance that
we will be successful in implementing our business plan or that we will be able to generate sufficient cash from operations, sell
securities or borrow funds on favorable terms or at all. Our inability to generate significant revenue or obtain additional financing
could have a material adverse effect on our ability to fully implement our business plan and grow our business to a greater extent
than we can with our existing financial resources.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business model relies on adequate revenue sharing with colleges and universities, for online delivery of their courses. If we
fail to attract customers, or to negotiate agreements with them that provide us with sustainable revenue, it will impair our ability
to operate and grow our business.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may not be able to convince colleges and universities that our methods will produce better outcomes than their current approaches
to residential and online courses, in a cost-effective manner. We may also not be able to convince them to dedicate significant
resources to moving courses onto our platform, and gain their trust in operating them collaboratively. If our courses are not
better, or only modestly better than the incumbent versions, we will be unable to grow and gain more customers, which may materially
harm our business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will be relying on our customers, which are colleges and universities, to drive enrollment and revenue.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Factors
within and outside of our control will affect enrollments and include the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Negative
                                         perceptions about online courses.</I> Students may reject the opportunity to take courses
                                         online, when residential courses are offered as an option, due to negative perceptions
                                         of online education.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Ineffective
                                         marketing efforts.</I> We will rely on our own and our customers&rsquo; marketing efforts
                                         to drive enrollment of our online courses. If we or our customers fail to successfully
                                         execute our marketing strategies, we will suffer reduced revenue.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Damage
                                         to customer reputation.</I> Our customers&rsquo; rankings, reputation and marketing efforts
                                         strongly affect enrollments, none of which we control. If we fail to gain customers with
                                         strong, stable reputations and rankings, we will fail to secure courses that have stable
                                         enrollments.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Lack
                                         of subscription to our courses.</I> We do not control the courses required for a degree
                                         by our customers, and if the courses we offer do not build to a degree, enrollments could
                                         suffer.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Reduced
                                         enrollment in higher education due to lack of funding.</I> Significant reductions in
                                         student funding, through grants or loans, would reduce enrollments in courses on our
                                         platform and could adversely affect our business model.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>General
                                         economic conditions.</I> Any contraction in the economy could be expected to reduce enrollment
                                         in higher education, whether by reducing funding, reducing corporate allowances for continuing
                                         education, general reductions in employment or savings or other factors. Any of these
                                         could substantially reduce enrollment in courses offered on our platform.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will face intense competition, which may cause pricing pressures, decreased gross margins and loss of market share and may materially
and adversely affect our business, financial condition and results of operations.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will compete with other online education services companies, and colleges and universities themselves. We expect competition in
our markets to intensify, as new competitors enter the online education market, existing competitors merge or form alliances,
and new technologies emerge. Our competitors may introduce new solutions and technologies that are superior to our platform. Certain
of our competitors may be able to adapt more quickly than we can to new or emerging technologies and changes in customer requirements
or may be able to devote greater resources to the development, promotion and sale of their products than we can.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increased
competition could also result in pricing pressures, declining average selling prices for our service model, decreased gross margins
and loss of market share. We will need to make substantial investments to develop these enhancements and technologies to our platform,
and we cannot assure investors that we will have funds available for these investments or that these enhancements and technologies
will be successful. If a competing technology emerges that is, or is perceived to be, superior to our existing technology and
we are unable to adapt and compete effectively, our market share and financial condition could be materially and adversely affected,
and our business, revenue, and results of operations could be harmed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are dependent on the services of certain key management personnel, employees, advisors and consultants. If we are unable to retain
or motivate such individuals or hire qualified personnel, we may not be able to grow effectively.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
depend on the services of a number of key management personnel, employees, advisors and consultants and our future performance
will largely depend on the talents and efforts of such individuals. We do not currently maintain &ldquo;key person&rdquo; life
insurance on any of our employees, including members of our management team, and the loss of one or more of such key individuals,
or failure to find a suitable successor, could hamper our efforts to successfully operate our business and achieve our business
objectives. Our future success will also depend on our ability to identify, hire, develop, motivate and retain highly skilled
personnel. Competition in our industry for qualified employees is intense, and our compensation arrangements may not always be
successful in attracting new employees and/or retaining and motivating our existing employees. Future acquisitions by us may also
cause uncertainty among our current employees and employees of the acquired entity, which could lead to the departure of key individuals.
Such departures could have an adverse impact on the anticipated benefits of an acquisition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have risk factors within and outside of our control that may inhibit our ability to deliver products on our platform.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
customers will rely on us to deliver a stable platform, with correct measures of performance in a manner that instructors, lecturers,
graduate student assistants and professors can easily use.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even
if we are successful in delivering a stable platform, our operating results may fluctuate as a result of a number of factors,
many of which are outside of our control. The following factors may affect our operating results:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to compete effectively;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to continue to attract users to our platform;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to attract new customers to our platform;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to attract colleges and universities to our platform;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         mix in our net revenues generated from customers and colleges and universities;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         amount and timing of operating costs and capital expenditures related to the maintenance
                                         and expansion of our business, operations and infrastructure;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         focus on long term goals over short-term results;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         results of our investments in risky projects;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">general
                                         economic conditions and those economic conditions specific to our online courses;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to keep our platform operational at a reasonable cost and without service interruptions;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         success of our geographical and product expansion;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to attract, motivate and retain top-quality employees;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">foreign,
                                         federal, state or local government regulation that could impede our ability to operate
                                         our platform;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to upgrade and develop our systems, infrastructure and products;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">new
                                         technologies or services that block our platform and user adoption of these technologies;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         costs and results of litigation that we may face;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to protect our intellectual property rights;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to forecast revenue;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to manage fraud and other activities that violate our terms of services;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                         ability to successfully integrate and manage our colleges and universities; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">geopolitical
                                         events such as war, threat of war, or terrorist actions.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may have risks related to our financial condition.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have a history of losses, will need substantial additional funding to continue our operations and may not achieve or sustain profitability
in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operations have
consumed substantial amounts of cash since inception. From incorporation through March 31, 2019, we have incurred a net loss of
$2,668,924. We do not expect more than nominal revenues until at least some point during the fiscal year ending June 30, 2020.
If our expectations prove incorrect, our business, operating results and financial condition will be materially and adversely affected.
We anticipate that our operating expenses will increase in the foreseeable future as we continue to pursue the development of our
platform, invest in marketing, sales and distribution of our platform to grow our business, acquire customers, and commercialize
our technology. These efforts may prove more expensive than we currently anticipate, and we may not succeed in generating sufficient
revenues to offset these increased expenses. In addition, we expect to incur significant expenses related to regulatory requirements,
and our ability to obtain, protect, and defend our intellectual property rights.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may also encounter unforeseen expenses, difficulties, complications, delays and other unknown factors that may increase our capital
needs and/or cause us to spend our cash resources faster than we expect. Accordingly, we may need to obtain substantial additional
funding in order to continue our operations. We cannot assure you that such additional funding will be available on favorable
terms, or at all.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may have risks related to managing any growth we may experience.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may engage in future acquisitions that could disrupt our business, cause dilution to our stockholders and harm our financial condition
and operating results.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
there are currently no specific plans to acquire any other businesses, we may, in the future, make acquisitions of, or investments
in, companies that we believe have products or capabilities that are a strategic or commercial fit with our current business or
otherwise offer opportunities. In connection with these acquisitions or investments, we may:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">issue
                                         shares of our common stock or other forms of equity that would dilute our existing stockholders&rsquo;
                                         percentage of ownership;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incur
                                         debt and assume liabilities; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incur
                                         amortization expenses related to intangible assets or incur large and immediate write-offs.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may not be able to complete acquisitions on favorable terms, if at all. If we do complete an acquisition, we cannot assure you
that such acquisition will ultimately strengthen our competitive position or that such acquisition will be viewed positively by
customers, financial markets or investors. Furthermore, future acquisitions could pose numerous additional risks to our expected
operations, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">problems
                                         integrating the purchased business, products or technologies;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">challenges
                                         in achieving strategic objectives, cost savings and other anticipated benefits;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">increases
                                         to our expenses;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         assumption of significant liabilities that exceed the limitations of any applicable indemnification
                                         provisions or the financial resources of any indemnifying party;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">inability
                                         to maintain relationships with prospective key customers, vendors and other business
                                         partners of the acquired businesses;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">diversion
                                         of management&rsquo;s attention from their day-to-day responsibilities;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulty
                                         in maintaining controls, procedures and policies during the transition and integration;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">entrance
                                         into marketplaces where we have limited or no prior experience and where competitors
                                         have stronger marketplace positions;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">potential
                                         loss of key employees, particularly those of the acquired entity;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">that
                                         historical financial information may not be representative or indicative of results as
                                         a combined entity; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">that
                                         our business and operations would suffer in the event of system failures, and our operations
                                         are vulnerable to interruption by natural disasters, terrorist activity, power loss and
                                         other events beyond our control, the occurrence of which could materially harm our business.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
our security measures or those of our future business partners are breached or fail and result in unauthorized disclosure of data,
we could lose customers and/or fail to attract new customers. Such breach or failure could also harm our reputation and expose
us to protracted and costly lawsuits.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
platform and computer systems store and transmit proprietary and confidential information, that is subject to stringent legal
and regulatory obligations. Due to the nature of our product, we face an increasing number of threats to our platform and computer
systems including unauthorized activity and access, system viruses, worms, malicious code, denial of service attacks, and organized
cyberattacks, any of which could breach our security and disrupt our platform. The techniques used by computer hackers and cyber
criminals to obtain unauthorized access to data or to sabotage computer systems change frequently and generally are not detected
until after an incident has occurred. Our cybersecurity measures or those of our future business partners may be unable to anticipate,
detect or prevent all attempts to compromise our systems or that of our future business partners. Our internal computer systems
and those of our future business partners are or may also be vulnerable to telecommunication and electrical failures, the occurrence
of which could result in material disruptions of our services. If our security measures are breached or fail as a result of third-party
action, employee error, malfeasance or otherwise, we could be subject to liability or our business could be interrupted, potentially
over an extended period of time. Any or all of these issues could harm our reputation, adversely affect our ability to attract
new customers, cause existing customers to scale back their offerings or elect not to renew their agreements, cause prospective
students not to enroll or students to not stay enrolled in our offerings, or subject us to third-party lawsuits, regulatory fines
or other action or liability. Such issues could also cause a delay in the further development of our new technology for on-line
education. Any reputational damage resulting from breach of our systems or disruption of our services could create distrust of
our company by prospective customers. We do not currently have cyber risk insurance. In the event that we obtain one, such insurance
may not be adequate to cover losses associated with such events, and in any case, such insurance may not cover all of the types
of costs, expenses and losses we could incur to respond to and remediate a security breach. As a result, we may be required to
expend significant additional resources to protect against the threat of these disruptions and security breaches or to alleviate
problems caused by such disruptions or breaches.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may have risks related to regulatory requirements.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On-line
education is subject to ongoing regulatory obligations and review. Maintaining compliance with these requirements may result in
significant additional expense to us and any failure to maintain such compliance could cause our business to suffer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Noncompliance
with applicable regulations or requirements could subject us to investigations, sanctions, mandatory product recalls, enforcement
actions, disgorgement of profits, fines, damages, civil and criminal penalties, or injunctions. An adverse outcome in any such
litigation could require us to pay contractual damages, compensatory damages, punitive damages, attorneys&rsquo; fees and other
costs. These enforcement actions could harm our business, financial condition and results of operations. If any governmental sanctions
are imposed, or if we do not prevail in any possible civil or criminal litigation, our business, financial condition and results
of operations could be materially adversely affected. In addition, responding to any action will likely result in a significant
diversion of our management&rsquo;s attention and resources and an increase in professional fees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
face risks and challenges related to any implementation of blockchain technology into our business to protect user information.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will face certain risks and challenges in implementing the blockchain, including, but not limited to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         risk of inability to encode data properly;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         risk that institutions will be reluctant or unwilling to embrace the technology and recognize
                                         encoded data;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         risk that the encoding of data in the blockchain will prove unwieldy and therefore less
                                         preferred than traditional methods;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">uncertainty
                                         in determining how fast an innovative technology will be accepted by the target market,
                                         if at all; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         risk that the development of blockchain technology could be stifled or otherwise adversely
                                         impacted by regulatory uncertainty.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
Risks Relating to Our Reliance on Blockchain Solutions Provided by Third-Parties.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
we do not plan to develop our own blockchain solution at this time, we plan to seek a third-party provider of public or private
blockchain solutions to record course credits attained using our platform. As a result, we face certain risks and challenges related
to being reliant upon blockchain solutions provided by third-parties, including, but not limited to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         third-party blockchain solutions we utilize might not meet our intended goals of recording
                                         course credits;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         third-party blockchain solutions we utilize might not be customizable to address changing
                                         customer preferences which could limit sales;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         third-party blockchain solutions we utilize might not meet our customer&rsquo;s expectations
                                         which could impact potential sales;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         third-party blockchain solutions we utilize might contain contains bugs or other errors,
                                         defects or security vulnerabilities, that could cause delays which could impact our reputation
                                         and market acceptance of our courses;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
                                         are a limited number of third-party providers of blockchain solutions therefore if our
                                         relationship with a third party provider, is adversely affected for any reason, such
                                         as due to competitive pressures or changes in company strategies and priorities, our
                                         ability to obtain other blockchain solutions on competitive financial terms could be
                                         adversely affected;</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public
                                         blockchain solutions are typically more expensive and require more computational power
                                         to run which may increase the cost of third-party blockchain solutions to us; and</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Private
                                         blockchain solutions are typically less expensive than public blockchain solutions but
                                         are less efficient when individuals outside of the company require access which may be
                                         inconsistent with our intended use of blockchain.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related to our Common Stock and this Offering</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">The offering price was arbitrarily determined and
you may not be able to sell the securities you purchase in this offering at the offering price or at any price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The offering price
per share of common stock in this offering does not have any direct relationship to our assets, earnings, book value, or other
measurable criteria of value. See &ldquo;Determination of Offering Price&rdquo; for additional details. We make no representations,
whether express or implied, as to the value of the common stock offered hereby. There can be no assurance that the common stock
offered hereby can be sold at either the offering price or any other price in the future.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are an &ldquo;emerging growth company&rdquo;
and are thus, subject to reporting requirements that are less rigorous than Exchange Act rules for companies that are not &ldquo;emerging
growth companies.&rdquo; Our investors could receive less information than they might expect to receive from more mature public
companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are an &ldquo;emerging
growth company&rdquo; as defined in the JOBS Act. For as long as we continue to be an emerging growth company, we may take advantage
of exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies,
including (i) not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act
of 2002, or the Sarbanes-Oxley Act, (ii) having the option of delaying the adoption of certain new or revised financial accounting
standards, (iii) reduced disclosure obligations regarding executive compensation in this prospectus and our periodic reports and
proxy statements, and (iv) exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and
stockholder approval of any golden parachute payments not previously approved. We have elected to use the extended transition
period for complying with new or revised accounting standards under the JOBS Act, which allows us to delay the adoption of certain
new or revised accounting standards. As a result of such election, our financial statements may not be comparable to public companies
that comply with public company effective dates. Because our financial statements may not be comparable to companies that comply
with public company effective dates, investors may have difficulty evaluating or comparing our business, performance or prospects
in comparison to other public companies, which may have a negative impact on the value and liquidity of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, in the
event that we are able to successfully list our common stock on a national securities exchange or any other exchange, or have
our common stock quoted on an over-the-counter trading system in the future, we cannot predict if investors will find our common
stock less attractive because we may rely on the exemptions available to emerging growth companies and/or smaller reporting companies.
If some investors find our common stock less attractive as a result, there may be a less active trading market for our common
stock and the share price of our common stock may be more volatile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We could remain an
emerging growth company for up to five years, although circumstances could cause us to lose that status earlier, including if
the market value of our common stock held by non-affiliates exceeds $700.0 million as of the end of any completed second fiscal
quarter before that time or if we have total annual gross revenue of approximately $1.1 billion or more during any fiscal year
before that time, or if we issue more than $1.0 billion in non-convertible debt during any three-year period before that time.
Even after we no longer qualify as an emerging growth company, we may still remain a &ldquo;smaller reporting company&rdquo; which
would allow us to take advantage of scaled disclosure requirements for smaller reporting companies, including certain of the exemptions
available to emerging growth companies.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is currently no market
for our common stock and we cannot assure you that any market will ever develop. You may therefore be unable to re-sell shares
of our common stock at times and prices that you believe are appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common stock is
not listed on a national securities exchange or any other exchange, or quoted on an over-the-counter market. Therefore, there
is no trading market, active or otherwise, for our common stock and our common stock may never be included for trading on any
securities exchange, automated quotation system or any over-the-counter market. Accordingly, our common stock is highly illiquid
and you will likely experience difficulty in re-selling such common stock at times and prices that you may desire and without
depressing the market price for the common stock or at all.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our common stock may not be eligible for listing
or quotation on any securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not currently
meet the initial quantitative listing standards of any national securities exchange or over-the-counter trading system. We cannot
assure you that we will be able to meet the initial listing standards of any national securities exchange, or, if we do meet such
initial listing standards, that we will be able to maintain any such listing. Further, the national securities exchanges are adopting
so-called &ldquo;seasoning&rdquo; rules that will require that we meet certain requirements, including prescribed periods of time
trading over-the-counter and minimum filings of periodic reports with the SEC, before we are eligible to apply for listing on
such national securities exchanges. We have arranged for a registered broker-dealer to apply to have our common stock quoted on
the OTCBB or another over-the-counter system. However, we cannot provide assurance that we will be successful in having our common
stock quoted on an over-the-counter market or listed on a national securities exchange. Even if our common stock is quoted for
sale on an over-the-counter quotation system, buyers may be insufficient in number to allow for a robust market and it may prove
impossible to sell your common stock. In addition, an investor may find it difficult to obtain accurate quotations as to the market
value of our common stock. In addition, if we fail to meet the criteria set forth in SEC regulations, various requirements would
be imposed by law on broker-dealers who sell our securities to persons other than established customers and accredited investors.
Consequently, such regulations may deter broker-dealers from recommending or selling our common stock, which may further affect
its liquidity. This would also make it more difficult for us to raise additional capital.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The future issuance of equity
or of other securities that are convertible into equity may dilute your investment and reduce your equity interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may choose to raise
additional capital in the future, depending on market conditions, strategic considerations and operational requirements. To the
extent that additional capital is raised through the issuance of shares of our common stock or other securities convertible into
shares of our common stock, our stockholders&rsquo; ownership interests in our Company will be diluted. Future issuances of our
common stock, other equity securities or other securities convertible into shares of our common stock or other equity securities,
the exercise of currently outstanding or future options or warrants for our common stock, or the perception that such sales or
exercises may occur, could adversely affect the prevailing market price of our common stock and impair our ability to raise capital
through future offerings of equity or equity-linked securities.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because we do not intend to
pay dividends, stockholders will benefit from an investment in our common stock only if it appreciates in value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have never declared
or paid any cash dividends on our common stock. For the foreseeable future, it is expected that earnings, if any, generated from
our operations will be used to finance the growth of our business, and that no dividends will be paid to holders of our common
stock. As a result, the success of an investment in our common stock will depend upon any future appreciation in its value. There
is no guarantee that our common stock will appreciate in value.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal stockholders
and management own a significant percentage of our stock and will be able to exert significant control over matters subject to
stockholder approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our directors, executive
officers and each of our stockholders who, as of June 28, 2019, owned greater than 5% of our outstanding common stock beneficially
own approximately 69.20% of our common stock. Accordingly, these stockholders have and will continue to have significant influence
over the outcome of corporate actions requiring stockholder approval, including the election of directors, a merger, the consolidation
or sale of all or substantially all of our assets or any other significant corporate transaction. The interests of these stockholders
may not be the same as or may even conflict with our other investors&rsquo; interests. For example, these stockholders could delay
or prevent a change in control of us, even if such a change in control would benefit our other stockholders, which could deprive
our stockholders of an opportunity to receive a premium for their common stock as part of a sale of the Company or our assets.
The significant concentration of stock ownership may negatively impact the value of our common stock due to potential investors&rsquo;
perception that conflicts of interest may exist or arise<B>.</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Certificate of Incorporation
provides that the Court of Chancery of the State of Delaware is the exclusive forum for certain litigation that may be initiated
by our stockholders, including claims under the Securities Act, which could limit our stockholders&rsquo; ability to obtain a
favorable judicial forum for disputes with us or our directors, officers or employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Certificate of
Incorporation provides that the Court of Chancery of the State of Delaware shall, to the fullest extent permitted by law, be the
sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim
for breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders, (iii) any
action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law, our certificate of incorporation
or our bylaws or (iv) any action asserting a claim governed by the internal affairs doctrine. The choice of forum provision may
limit a stockholder&rsquo;s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors,
officers, employees or agents, which may discourage such lawsuits against us and our directors, officers, employees and agents.
Stockholders who do bring a claim in the Court of Chancery could face additional litigation costs in pursuing any such claim,
particularly if they do not reside in or near the State of Delaware. The Court of Chancery may also reach different judgments
or results than would other courts, including courts where a stockholder considering an action may be located or would otherwise
choose to bring the action, and such judgments or results may be more favorable to us than to our stockholders. Alternatively,
if a court were to find the choice of forum provision contained in our certificate of incorporation to be inapplicable or unenforceable
in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could adversely
affect our business and financial condition.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain provisions of our
Certificate of Incorporation and Delaware law make it more difficult for a third party to acquire us and make a takeover more
difficult to complete, even if such a transaction were in stockholders&rsquo; interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Certificate of
Incorporation and the Delaware General Corporation Law contain certain provisions that may have the effect of making it more difficult
or delaying attempts by others to obtain control of our Company, even when these attempts may be in the best interests of our
stockholders. We also are subject to the anti-takeover provisions of the Delaware General Corporation Law, which prohibits us
from engaging in a &ldquo;business combination&rdquo; with an &ldquo;interested stockholder&rdquo; unless the business combination
is approved in a prescribed manner and prohibits the voting of shares held by persons acquiring certain numbers of shares without
obtaining requisite approval. The statutes and our Certificate of Incorporation have the effect of making it more difficult to
effect a change in control of our Company.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_006"></A>DESCRIPTION OF
OUR BUSINESS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amesite OpCo&rsquo;s History</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Amesite OpCo, a corporation
that is developing an artificial intelligence and blockchain-driven online platform that plans to offer degree building courses
for learners, was incorporated in the State of Delaware on November 14, 2017. We acquired the business of Amesite OpCo pursuant
to a merger on April 27, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 27, 2018,
our wholly-owned subsidiary, Lola One Acquisition Sub, Inc., a corporation formed in the State of Delaware, or the Acquisition
Sub, merged with and into Amesite OpCo. Pursuant to this transaction, Amesite OpCo was the surviving corporation and became our
wholly-owned subsidiary. All of the outstanding capital stock of Amesite OpCo was converted into shares of our common stock. As
a result of the Merger, we acquired the operations of Amesite OpCo and continued the existing operations of Amesite OpCo as a
company subject to the Exchange Act periodic reporting requirements under the name Amesite Inc. The Merger was treated as a reverse
recapitalization for our Company for financial reporting purposes. Amesite OpCo is considered the acquirer for accounting purposes,
and our historical financial statements before the Merger have been replaced with the historical financial statements of Amesite
OpCo before the Merger in our subsequent filings with the SEC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Overview</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not launched
a marketable product and we have not generated any revenue since inception. We cannot assure you that we will ever develop a marketable
product or generate revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a development
stage artificial intelligence software company targeting the college course market. We are creating a cloud-based platform for
college and university courses to be delivered to learners online and in hybrid online / on campus formats. We plan to use machine
learning to provide a novel, mass customized experience to learners. Our intended customers are universities and colleges, and
we are passionate about improving the learner experience and learner outcomes in college courses, and improving colleges&rsquo;
ability to create and deliver both.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Strategy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">We
will work closely with our customers to deliver college courses, and share the revenue that our customers receive from learners.
We will convert customer content onto our proprietary platform, and use the proprietary data we collect on learner behavior and
responses with their consent, to deliver to learners engaging, effective college courses. We aim to reduce college operating costs,
and improve learner experience and performance. Customers will generate content, admit and enroll learners, approve of assessments,
grading and engagement techniques, and deliver grades and credits to learners. Courses will be branded according to customer norms,
and will be marketed collaboratively, as customer products.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Proprietary Technology</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Large, lecture-based
college courses offer the opportunity to collect substantial datasets impractical for instructors to collect, but highly relevant
to individuals&rsquo; learning experience and outcomes. College instructors are unable to customize delivery of information based
on learners&rsquo; habits, given their present inability to collect and analyze learners&rsquo; data. We plan to implement machine
learning algorithms to enable mass customized learning in higher education, freeing instructors from routine analysis and enabling
delivery of information only possible with specific data on behaviors and preferences of individual learners. Much as artificial
intelligence algorithms presently recognize, and respond to natural language on commercial platforms, predict behaviors and deliver
suggestions, our algorithms will assist learners in accessing, utilizing and remaining engaged with course material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Learner data will
be collected with learner permission, and information about learner behavior, study preferences and preference for types of material
delivered as part of college courses, will be used to improve learning outcomes and learner experiences. We will validate algorithms
using both offline and online testing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">By correlating learner
behaviors with specific outcomes as identified by qualified instructors, we will train our algorithms specifically for important
college course outcomes, enabling it to be a useful tool for instructors. We believe that the combinations of information that
will be collected through our educational products, and outcomes measured using our online learning products will be unique, and
constantly improved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will never sell
or distribute our learner data to third parties without the explicit permission of learners. We will not deliver unwanted content
or advertising to learners or to customer personnel. Our proprietary technology is developed solely for purposes of improving
learner experiences and outcomes, and improving the ability of college and university instructors and other staff to deliver outstanding
educational products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are committed to
protecting the data we collect. Towards this end, we plan to utilize blockchain technology in our online platform. The blockchain
is an electronic ledger created by a decentralized, distributed computing network that is highly resistant to modification of
data. As such, the technology has been used to create cryptocurrencies, with the intention of creating durable, tradeable and
stateless assets. While frequently associated with cryptocurrencies, the blockchain technology has other applications, including
being used to encode and then enable readout of data for business purposes. The blockchain is presently considered to be among
the more secure methods to encode data, and thus offers a means to store important data which can be publicly read out, without
modification of the data set. We intend to utilize the blockchain as a bookkeeping device to store information about learner credentials.
Presently, most universities and colleges in the United States individually manage applications, enrollment, and graduation or
the issuance of non-degree credentials, such as certificates. Transcripts and other records from institutions are issued to students
or former students, or sent directly to other institutions, workplaces, employment agencies, or the government. We believe that
a blockchained database for higher education could deliver efficiencies to both learners and institutions. We will face certain
risks and challenges in implementing the blockchain, including, but not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the risk
                                         of inability to encode data properly;</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the risk
                                         that institutions will be reluctant or unwilling to embrace the technology and recognize
                                         encoded data;</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the risk
                                         that the encoding of data in the blockchain will prove unwieldy and therefore less preferred
                                         than traditional methods;</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">uncertainty
                                         in determining how fast an innovative technology will be accepted by the target market,
                                         if at all; and</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the risk
                                         that the development of blockchain technology could be stifled or otherwise adversely
                                         impacted by regulatory uncertainty.</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Key Differences Between Public and Private Blockchain
Solutions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Public Blockchain</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The major distinction
between public and private blockchain is related to who is allowed to participate in the network, execute the consensus protocol
and maintain the shared ledger. A public blockchain network is completely open and anyone can join and participate in the network.
The network typically has an incentivizing mechanism to encourage more participants to join the network.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">One of the drawbacks
of a public blockchain is the substantial amount of computational power that is necessary to maintain a distributed ledger at
a large scale. More specifically, to achieve consensus, each node in a network must solve a complex, resource-intensive cryptographic
problem called a proof of work to ensure all are in sync.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Public blockchains
are designed to be standalone, in the sense that they eliminate the need for intermediaries in exchanges of assets. Because they
have to be multiply redundant, they can be slower and costlier to operate, but are generally regarded as more secure for the same
reason of redundancy. Public blockchain solutions are most appropriate for decentralized applications similar to how we plan to
use blockchain in our business</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Private Blockchain</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Private blockchains
use permissioned nodes that must be validated by either the starter of the network or a set of rules put in place by the starter.
Businesses which set up private blockchains, generally set up a permissioned network. This restricts access to the network for
certain transactions. Unlike a public blockchain network which is completely open and anyone can join and participate in the network,
participants need to obtain an invitation or permission to join a private blockchain network. The access control mechanism may
vary such that: existing participants could decide future entrants, a regulatory authority could issue licenses for participation,
or a consortium could make the decisions. Once an entity has joined the network, it will play a role in maintaining the blockchain
in a decentralized manner. Private blockchains are typically faster and less expensive to maintain and manage than public blockchains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">One of the drawbacks
of a private blockchain is only certain members have access within the blockchain. This is useful if there&rsquo;s no need for
anybody outside of the blockchain to become part of the chain, However, we anticipate needing multiple users in the university
setting to have access to transcript data which is one of the potential disadvantages of using a private blockchain solution in
our business</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we are still
in the process of determining whether to utilize private or public blockchain solutions provided by third parties in the context
of our business we believe that a public blockchain solution might be the most appropriate for our business even though public
blockchain solutions are typically slower and more expensive than private blockchain solutions for the following reasons:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Given the
                                         cutting edge nature of the blockchain industry it is difficult to find blockchain professionals
                                         to develop private blockchain solutions given the relatively small talent pool and the
                                         general &ldquo;renegade&rdquo; nature of the field; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">We believe
                                         that there are a sufficient number of qualified contractors we can use, with little/no
                                         risk because we do not require extreme reliability (learners can always pull a transcript
                                         as they would traditionally, from the registrar or transcript office of their university)
                                         the way that data breaches would be handled routinely by big contractors is sufficient.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Internally, we have
not begun work to design or develop blockchain technology; our invention is in the area of utilization of the tool to record transactions
in academia in the public ledger. It is our intention to innovate in the area of use of publicly-validated tools in the conduct
of our business, rather than in creating specialized, private currencies. Given the small role blockchain will play in our overall
business we don&rsquo;t believe the costs associate with utilizing a public or private blockchain solution provided by a third
party will have a material impact on our operations, revenues, if any or capital expenditures.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Research and Development Programs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will use advanced
technologies to create effective and accessible higher learning environments. We seek to improve the college experience by targeting
the earliest, foundational, core courses that are required in order for learners to achieve college degrees. These courses form
the building blocks for higher education learning and professional contribution. Our research and development programs will expand
continuously based on learner preferences, outcomes and the desires of our customer colleges and universities. Some of these will
include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><I>Improvements
                                         in learner engagement with cloud-based platforms</I>. We will continuously gather data
                                         on how learners engage with us and other online platforms, and conduct research and development
                                         to create and incorporate useful tools for learning on our platform.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><I>Improvements
                                         in instructor experience using our platform</I>. We will continuously develop tools designed
                                         to improve the ability of our customers to deliver timely and relevant content, deliver
                                         assessments which are fair, correctly represent educational objectives and give repeatable
                                         outcomes when employed on our platform.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><I>Algorithms
                                         for optimizing learning products for those pursuing college degrees</I>. We will conduct
                                         research to improve the efficiency and robustness of our algorithms, employing mixed
                                         models to deliver validated tools. We will use our algorithms to deliver solutions for
                                         seeking courses, determining their transferability, and determining their applicability
                                         toward degrees.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><I>Qualification
                                         of information for use by learners at the college level</I>. We plan to provide both
                                         our customers and our learners with the constantly improving ability to find and integrate
                                         qualified information into products on our platform, and maximize learner ability to
                                         utilize qualified information, contextualized by structured college courses designed
                                         to offer learners the most carefully curated, most relevant, timely and engaging materials
                                         in every discipline in which we offer products.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">From inception through March 31, 2019, we have spent a total of $150,000 on research and development.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Intellectual Property</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our intellectual property
rights may include patent applications, trade secrets, trademark rights, and contractual agreements. Our patent applications are
directed to our proprietary technology, including an artificial intelligence platform for learning, and will seek patent protection
for our designs, development, and related alternatives by filing and prosecuting patent applications in the U.S. and other countries
as appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently have
five pending U.S.&nbsp;patent applications, including one to cover the artificial intelligence platform, and others related to
security, power consumption, blockchain, and other technologies, including methods and systems. Any patent issued from these applications
are expected to expire in 2038, not including any applicable patent term adjustment or extension.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We intend to also
seek trade secret protection for our source codes, methodologies, algorithms, and techniques directed to other aspects of our
artificial intelligence learning platform. We have filed an intent-to-use trademark for AMESITE<SUP>TM</SUP>&nbsp;with the United
States Patent and Trademark Office. We have also secured domain names, including amesite.com, amesite.co, amesite.net, and others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We ensure that we
own intellectual property created for us by signing agreements with employees, independent contractors, consultants, companies,
and any other third party that creates intellectual property for us or that assign any intellectual property rights to us. Portions
of our platform may rely upon third-party licensed intellectual property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have established
business procedures designed to maintain the confidentiality of our proprietary information, including the use of confidentiality
agreements with employees, independent contractors, consultants and entities with which we conduct business.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Competition</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The on-line and software
industries for higher education are characterized by rapid evolution of technologies, fierce competition, government regulation,
and strong defense of intellectual property. The overall market for technology solutions that enable higher education providers
to deliver education online is highly fragmented, rapidly evolving and subject to changing technology, shifting needs of learners
and educators and frequent introductions of new methods of delivering education online. While we believe that our platform, programs,
technology, knowledge, experience, and resources provide us with competitive advantages, we face competition from major on-line
companies, academic institutions, governmental agencies, and public and private research institutions, among others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any course offering
that we successfully develop and commercialize will compete with current course offerings. Key product features that would affect
our ability to effectively compete with other course offerings include efficiency, security and convenience, and availability.
Our competitors fall primarily into the following groups:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Traditional
                                         course offerings in physical facilities; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">On-line
                                         course offerings from traditional colleges, universities, or other institutes of higher
                                         education.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Many of the companies,
colleges, or universities against which we may compete have significantly greater financial resources and expertise in education,
software design and development, and have already obtained approvals and marketing approved products. Smaller or early-stage companies
may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies.
These competitors also compete with us in recruiting and retaining qualified engineers, scientists, and management personnel,
as well as in acquiring technologies complementary to, or necessary for, our programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect that the
competitive landscape will continue to expand as the market for online programs at nonprofit institutions matures. We believe
the principal competitive factors in our market include the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">brand awareness
                                         and reputation;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">ability
                                         of online programs to deliver desired student outcomes;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">robustness
                                         and evolution of technology offering;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">breadth
                                         and depth of service offering;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">ability
                                         to invest in launching and operating programs;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">expertise
                                         in program marketing, student acquisition and student retention;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">quality
                                         of user experience;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">ease of
                                         deployment and use of solutions;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">level of
                                         customization, configurability, integration, security, scalability and reliability of
                                         solutions; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">quality
                                         of customer base and track record of performance.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our ability to remain
competitive will depend, to a great extent, upon our ability to consistently deliver high-quality technology solutions for our
learners, meet customer needs for content delivery at reasonable cost, and engage, support and retain learners who achieve high-quality
outcomes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Government Regulation and Product Approval</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The higher education
industry is heavily regulated. Institutions of higher education that award degrees and certificates to signify the successful
completion of an academic program are subject to regulation from three primary entities, namely, the U.S. Department of Education,
or DOE, accrediting agencies, and state licensing authorities. Each of these entities promulgates and enforces its own laws, regulations
and standards, which we refer to collectively as education laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We contract with higher
education institutions that are subject to education laws. In addition, we are required to comply with certain education laws
as a result of our role as a service provider to institutions of higher education, either directly or indirectly through our contractual
arrangements with customers. Our failure, or that of our customers, to comply with education laws could adversely impact our operations.
As a result, we work closely with our customers to maintain compliance with education laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will abide, as
required, by the education laws, including incentive compensation rule, misrepresentation rule, accreditation rules and standards,
among all state and federal regulations. We also closely monitor state law developments and we will work closely with our customers
to assist them with obtaining any required approvals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our activities on
behalf of our customers are also subject to other federal and state laws. These regulations include, but are not limited to, consumer
marketing and unfair trade practices laws and regulations, including those promulgated and enforced by the Federal Trade Commission,
as well as federal and state data protection and privacy requirements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales and Marketing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We plan to implement
a sales and marketing program prior to the launch of our platform. As the platform progresses through development, design, and
testing, we intend to gather information regarding our on-line courses and use such information for marketing and sales of courses
through our platform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also intend to
simultaneously develop a branding strategy to introduce and support our platform. The strategy may include our presence at colleges,
universities, and other educational institutions on a national, state, and regional basis to engage and educate users of our products,
as well as engaging in a variety of other direct marketing methods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also intend to
develop a small direct sales force together with a distribution network that has existing relationships with colleges, universities,
and other educational institutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have signed a contract
with a first customer, and believe that we will be able to deliver our first product on time by the end of fiscal year ending
June 30, 2019.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Board of Advisors</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Dennis Bernard, Chairman of the Board of Advisors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Bernard is the
founder and President of Bernard Financial Group and Bernard Financial Servicing Group, or BFG. BFG is the largest commercial
mortgage banking firm in Michigan, financing, on average, over $1.0 billion annually. Mr. Bernard has been involved with over
1,200 commercial real estate financial transactions totaling over $18.6 billion. Mr. Bernard specializes in both debt and equity
placement with commercial lenders and institutional joint venture participants.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Gilbert S. Omenn, MD, Ph.D., Member</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dr. Omenn is the Harold
T. Shapiro Distinguished University Professor at the University of Michigan. He also currently chairs the global Human Proteome
Project and serves on the boards of the Center for Public Integrity, the Hastings Center for Bioethics, the Weizmann Institute
of Science in Israel, and biotech companies Esperion, Galectin, and Oncopia Therapeutics. Dr. Omenn previously served on the board
of directors of Amgen, Inc. for 27 years and Rohm &amp; Haas Company for 22 years. He was a member of the Council of the National
Academy of Medicine, or NAM, from 2015 to 2017, and a member of the Scientific Management Review Board for the National Institutes
of Health from 2012 to 2014. Prior to that, Dr. Omenn was the Executive Vice President for Medical Affairs and Chief Executive
Officer, or CEO, of the University of Michigan Health System from 1997 to 2002. From 1977 to 1981, Dr. Omenn was Associate Director
of the White House Office of Science &amp; Technology Policy and Associate Director of the Office of Management and Budget. Prior
to that, Dr. Omenn was a White House Fellow at the Atomic Energy Commission from 1973 to 1974. Dr. Omenn was the President of
the American Association for the Advancement of Science, or AAAS, in 2006 and a member of the advisory board for the AAAS Project
2061 on Science for all Americans from 1986 to 1996. He was elected to NAM in 1978 and the American Academy of Arts &amp; Sciences
in 2001. Dr. Omenn received the David Rogers Award from the Association of American Medical Colleges for contributions to health
and healthcare in 2013.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Elliot Soloway, Ph.D., Member</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dr. Soloway is the
Arthur F. Thurnau Professor of Engineering at the University of Michigan. He is an expert in Artificial Intelligence, or AI, particularly
related to learning and teaching. For the past 17 years, Dr. Soloway and his colleagues at the Center for Highly-Interactive Computing
in Education, or HI-CE, a collaboration between University of Michigan and University of North Texas, have been pioneers in developing
educational technologies and curriculum to support science education in grades K-12. HI-CE has helped teachers and students realize
an unprecedented 15% gain in student achievement on standardized tests.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Patricia Mooradian, Member</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ms. Patricia E. Mooradian
has been the President and Chief Operating Officer of The Henry Ford, a premier American history attraction and national historic
landmark, since November 2005, and also serves as its Secretary. Since joining the institution in 2000, Ms. Mooradian has developed
a ten-year strategic plan focusing on increased attendance, new visitor experiences and amenities, new educational products and
benchmark hospitality. In addition, she introduced new tourism and sales initiatives and spearheaded The Henry Ford&rsquo;s brand
development,&nbsp;positioning the institution as a multi-venue, multi-day destination. She introduced The Benson Ford Research
Center to the institution&rsquo;s campus in 2002 and led the unprecedented restoration of Greenfield Village in 2003 and the opening
of the Ford Rouge Factory Tour in 2004. In addition, she executed the planning and development of Henry Ford Museum&rsquo;s Flexible
Gallery and the permanent exhibits, Buckminster Fuller&rsquo;s Dymaxion House: A New Way of Living, Heroes of the Sky and With
Liberty and Justice For All. Through her leadership efforts, the institution has been recognized with several national awards
including two THEA (Themed Entertainment Association) Awards in 2004 for Outstanding Achievement in the Extreme Makeover category,
Greenfield Village and Outstanding Achievement in the Visitor Center category, Ford Rouge Factory Tour; an AIA (American Institute
of Architects) Award of Honor for Sustainable Design, Ford Rouge Factory Tour and a Dibner Award for Excellence in Museum Exhibits,
Heroes of the Sky exhibit in Henry Ford Museum. Prior to joining The Henry Ford, Ms. Mooradian was Regional Director of Marketing
for The Taubman Company, focusing on the strategic positioning for more than a dozen shopping destinations across the United States
in major markets including New York City, Denver, Chicago, Washington D.C. and Detroit. Ms. Mooradian has been Vice Chairman of
the board of directors at Detroit Metro Convention &amp; Visitors Bureau since January 2008. She also previously served as a member
of the board of directors of Crestmark Bank and had been a member of the board of directors of Crestmark Bancorp, Inc. since October
2012. Ms. Mooradian currently serves on the board of directors of Henry Ford Health System Detroit Campus, Arab Community Center
for Economic and Social Services, The Henry Ford Learning Institute, and Michigan Museums Association. Ms. Mooradian is a member
of the advisory councils of the U.S. Cultural &amp; Heritage Tourism Summit Advisory Committee, University of Michigan-Dearborn
Citizens Advisory Council, and the Detroit Regional Chamber&rsquo;s Leadership Policy Conference Committee, and also serves as
a Trustee at The Henry Ford.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Theodore l. Spencer,
Member</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ted Spencer is Senior Advisor on Admissions
Outreach at the University of Michigan. Prior to September 2014, he was Associate Vice Provost and Executive Director of Undergraduate
Admissions. Before joining Michigan in 1989, he was an Associate Director of Admissions at the United States Air Force Academy.
He is a graduate of the Military Air War College and was one of thirty-five Air Force recruiting commanders in the United States.
He is a retired Lieutenant Colonel in the United States Air Force. Early in his career, he was a salesman for the IBM Corporation
in the City of Detroit. Ted has presented at numerous professional conferences statewide, nationally and internationally, and has
written and published articles on the college admissions process. He has received numerous awards, and was recognized as the Point
Man on Diversity Defense for affirmative action in college admissions. He has previously served as a Trustee for the College Board
and on the faculty for the Harvard Summer Institute on College Admissions. Ted holds a MS degree in sociology from Pepperdine University
and a BS in political science from Tennessee State University.</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 27, 2019,
we have eight full-time employees, and six consultants. We intend to hire additional staff and to engage consultants in general
administration on an as-needed basis. We also intend to engage experts in operations, finance and general business to advise us
in various capacities. None of our employees are covered by a collective bargaining agreement, and we believe our relationship
with our employees is good to excellent.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Facilities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our corporate headquarters
are located in Ann Arbor, Michigan, where we lease approximately 3500 square feet of office space. The lease term for our office
and laboratory space in Ann Arbor, Michigan commenced in November 2017 with an expiration date of May 5, 2019. During March 2019, the lease was extended through May 2022 with monthly payments of $7,942 through
May 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that our
existing facilities are adequate for our current needs. When our lease expires, we may exercise our renewal options or look for
additional or alternate space for our operations. We believe that suitable additional or alternative space will be available in
the future on commercially reasonable terms.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Legal Proceedings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From time to time,
we may be subject to legal proceedings. We are not currently a party to or aware of any proceedings that we believe will have,
individually or in the aggregate, a material adverse effect on our business, financial condition or results of operations.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_007"></A>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should
read the following discussion and analysis of our financial condition and results of operations together with our consolidated
financial statements and the related notes and other financial information included in this prospectus. Some of the information
contained in this discussion and analysis or set forth elsewhere in this prospectus, including information with respect to our
plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties as described under
the heading &ldquo;Special Note Regarding Forward-Looking Statements&rdquo; elsewhere in this prospectus. You should review the
disclosure under the heading &ldquo;Risk Factors&rdquo; in this prospectus for a discussion of important factors that could cause
actual results to differ materially from the results described in or implied by the forward-looking statements contained in the
following discussion and analysis.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Operating Overview</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We were incorporated
in November 2017. Amesite OpCo, which was originally incorporated in the State of Delaware on November 14, 2017, is a development
stage artificial intelligence software company targeting the college course market. Amesite OpCo is creating a cloud-based platform
for college and university courses to be delivered to learners online and in hybrid online/on campus formats.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 27, 2018,
our wholly-owned subsidiary, Lola One Acquisition Sub, Inc., merged with and into Amesite OpCo, with Amesite OpCo remaining as
the surviving entity and becoming our wholly-owned subsidiary. Prior to the Merger, we were a &ldquo;shell&rdquo; company registered
under the Exchange Act, with no specific business plan or purpose. As a result of the Merger, we acquired the operations of Amesite
OpCo and continued the existing operations of Amesite OpCo as a company subject to the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the Merger,
Amesite OpCo changed its name to &ldquo;Amesite Operating Company&rdquo; and we adopted Amesite OpCo&rsquo;s former company name,
&ldquo;Amesite Inc.&rdquo;, as our company name, and changed our fiscal year end from May 31 to June 30. The Merger was treated
as a reverse recapitalization for our Company for financial reporting purposes. Amesite OpCo is considered the acquirer for accounting
purposes, and our historical financial statements before the Merger have been replaced with the historical financial statements
of Amesite OpCo before the Merger in our filings with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As the result of the
Merger and the change in our business and operations, a discussion of the past financial results of Lola One is not pertinent,
and under applicable accounting principles the historical financial results of Amesite OpCo, the accounting acquirer, prior to
the Merger are considered the historical financial results of our Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following discussion
highlights our results of operations and the principal factors that have affected our financial condition as well as our liquidity
and capital resources for the period from November 14, 2017, being the date of incorporation of Amesite OpCo, to June 30, 2018,
and provides information that management believes is relevant for an assessment and understanding of the statements of financial
condition and results of operations presented herein. The following discussion and analysis are based on our audited financial
statements contained in this prospectus, which we have prepared in accordance with United States generally accepted accounting
principles, or GAAP. You should read the discussion and analysis together with such financial statements and the related notes
thereto.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Basis of Presentation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements
contained herein have been prepared in accordance with GAAP and in consideration of SEC requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our fiscal year ends
June 30. As a result of the change in fiscal year end previously described, the financial statements presented in this prospectus
cover the six months ended June 30, 2018 and the period from November 14, 2017 (being the date of incorporation of Amesite OpCo)
to December 31, 2017.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Critical Accounting Policies and Significant Judgments
and Estimates</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements
contained herein include a summary of our significant accounting policies and should be read in conjunction with the discussion
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of
the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported
in the financial statements. Actual results could differ from these estimates.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Overview of Discussion and Analysis</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since Amesite OpCo
was formed on November 14, 2017, there is no comparative period for purposes of analysis. Accordingly, the discussion below covers
the period from November 14, 2017 (date of incorporation) to June 30, 2018.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Results of operations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Three and Nine Months ended March 31, 2019 and Period
November 14, 2017 (date of incorporation) through March 31, 2018</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Key Third Quarter Accomplishments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Technology development. </I>We integrated new features into our Gen 2 &nbsp;platform. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Product launches.</I> We launched products on our Gen 2 platform.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Partner development.</I> We announced two new partnerships and plans to launch products.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Revenue</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We generated revenues of $2,831 and $3,576
during the three months and nine months ended March 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Operating Costs</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Operating expenses
for the three months and nine-months ended March 31, 2019 were $965,318 and $2,174,421, respectively. Operating costs for the periods
primarily reflect payroll and related expenses (stock compensation expense of $152,372 and $454,339 for the three months and nine-months
ended March 31, 2019) and contract services that support the development of our technology platforms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Operating expenses
for the period November 14, 2017 (date of incorporation) through March 31, 2018 were $144,725 and consisted primarily of general
and administrative expenses in connection with the starting of the business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Capital Expenditures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the three months
and nine-months ended March 31, 2019, we had capital asset additions of $161,735 and $769,000, respectively, which were comprised
of $154,817 and $739,510, respectively in capitalized technology and content development, and $6,918 and $29,490 respectively of
property and equipment, including primarily computer equipment, software, furniture and fixtures. The company will continue to
capitalize significant software development costs, comprised primarily of internal payroll, payroll related and contractor costs,
as we build out and complete our technology platforms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Capital asset additions
of $12,900 were incurred for the period November 14, 2017 (date of incorporation) through March 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Six Months ended June 30, 2018 and Period
from November 14, 2017 (date of incorporation) through December 31, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Overview of Discussion and Analysis</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since Amesite OpCo
was formed on November 14, 2017, there is no comparative period for purposes of analysis. Accordingly, the discussion below covers
the period from November 14, 2017 (date of incorporation) to June 30, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not generated
any revenues since inception. Our operating expenses for the period from November 14, 2017 (date of incorporation) to June 30,
2018 were $521,567.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Plan of Operation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our current plan of
operation includes two initial launches of courses in fiscal year ending June 30, 2019 with our first customer, and possible launches
with a second customer. Our current timeline for achieving such objective is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1.5pt solid"><B>Period</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; border-bottom: Black 1.5pt solid"><B>Tasks</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; border-bottom: Black 1.5pt solid"><B>Costs</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; border-bottom: Black 1.5pt solid"><B>Source(s)
        of Funding</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Quarter ending September 30, 2018</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Completion of a platform site built by internal staff, relying on third party, open-source
    software tools coupled with internally built tools and functionalities. In parallel, we will work with a contract firm to
    construct a full-stack solution for larger launches.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">We anticipate spending approximately $1,050,000.</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">Costs will primarily consist of internal salaries
                                    and contractor salaries.</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Funds raised from the Private Placement and the Insider Investment (each as defined herein).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Quarter ending December 31, 2018</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Completion and testing of a full-stack platform solution built principally by our contract
    firm, and continued testing and use of our internal platform. We plan to launch our first product either during this quarter
    or the succeeding quarter on either our internally or externally built platform.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">We anticipate spending approximately $1,050,000.</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">Costs will primarily consist of internal salaries
                                    and contractor salaries.</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Funds raised from the Private Placement and the Insider Investment.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Quarter ending March 31, 2019</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Launch of products on our full-stack platform solution, with continued piloting and testing
    of both platforms in parallel for new and/or potential customers.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">We anticipate spending approximately $1,350,000.</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">Costs required to book sales and produce products
                                    will primarily consist of internal salaries and contractor salaries, as well as cloud storage
                                    and third party software licenses.</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Partly from funds remaining from the Private Placement and the Insider Investment, and partly
    from the proceeds of a contemplated equity offering before calendar year 2019 (the &ldquo;Contemplated Offering&rdquo;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Quarter ending June 30, 2019</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Launch of larger-scale products on our full-stack platform solution, with continued piloting
    and testing of both platforms in parallel for new and/or potential customers.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">We anticipate spending approximately $1,350,000.</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">Costs will primarily consist of internal salaries
                                    and contractor salaries, as well as cloud storage third party software licenses.</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Proceeds from the Contemplated Offering.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we have one pending patent application for blockchain technology, we have not begun work to design
or develop blockchain technology nor do we have plans to do so in the interim.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Financial position, liquidity, and capital resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Overview</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are not currently
profitable, and we cannot provide any assurance that we will ever be profitable. We incurred a net loss of $948,261 and $2,147,357
for the three months and nine-months ended March 31, 2019, and we incurred a net loss of $144,725 for the period from November
14, 2017 (date of incorporation) to March 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the period from
November 14, 2017 (date of incorporation) to June 30, 2018, we raised net proceeds of $4,809,546 from private equity financing
transactions. As of March 31, 2019, our cash balance totaled $2,092,022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At present, we believe
that our cash balances should be sufficient to satisfy our anticipated operating and investing needs through July, 2019. However,
it is possible that we will choose to accelerate our plan of operations in order to attract and sign more customers or to support
current customers, and that we will require more funds than we currently have available to meet those needs.</P>



<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Cash Flows</I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
shows a summary of our cash flows for the periods ended March 31, 2019 and June 30, 2018.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Nine&nbsp;Months<BR> Ended<BR> March&nbsp;31,<BR> 2019</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Period from<BR> November&nbsp;14, 2017<BR> (date of&nbsp; incorporation) <BR> to June&nbsp;30,<BR> 2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Net cash used in operating activities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(1,412,029</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(150,575</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(769,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(196,318</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Net cash used in financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,065</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,621,009</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.15in; padding-left: 0.15in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Net Decrease in cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(2,182,094</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,274,116</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.15in; padding-left: 0.15in">Cash &ndash; Beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,274,116</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.15in; padding-left: 0.15in">Cash &ndash; End of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,092,022</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,274,116</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Funding requirements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect that our
primary uses of capital will be the development of our artificial intelligence software, course offerings and for general and working
capital. We believe our cash balance will be sufficient to meet our anticipated cash requirements through July 2019. However, in
the event we accelerate our plan of operations and we attract new customers at a faster rate than anticipated, we may not have
sufficient cash and we may require additional capital for the further development of our products and to meet our customers&rsquo;
needs. Until such time, if ever, we generate product revenue, we expect to finance our cash needs through a combination of public
or private equity offerings, debt financings and research collaboration and license agreements. We may be unable to raise capital
or enter into such other arrangements when needed or on favorable terms or at all. Our failure to raise capital or enter into such
other arrangements as and when needed would have a negative impact on our financial condition and our operations and necessitate
the reevaluation of our future operating plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our forecast of the
period of time through which our financial resources will be adequate to support our operations is a forward-looking statement
that involves risks and uncertainties, and actual results could vary materially as a result of a number of factors. We have based
this estimate on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we currently
expect. Our future capital requirements are difficult to forecast and will depend on many factors, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the timing
                                         of our costs incurred in connection with the launch of new programs and the delay in
                                         receiving revenue from these new programs, which delay may last for several years;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">seasonal
                                         variation driven by the schedules for our customers&rsquo; programs, which may vary from
                                         year to year;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">changes
                                         in the student enrollment and retention levels in our customers&rsquo; programs from
                                         one term to the next;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">changes
                                         in our customers&rsquo; tuition rates;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the timing
                                         and amount of our program marketing and sales expenses;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">changes
                                         in the prospects of the economy generally, which could alter current or prospective customers&rsquo;
                                         or students&rsquo; spending priorities, or could increase the time it takes us to launch
                                         new customer programs; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Our operating
                                         results may fall below the expectations of market analysts and investors in some future
                                         periods, which could cause the market price of our common stock to decline substantially.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the &ldquo;early
stage&rdquo; nature of our business, we expect to incur losses in the short-term. Our continuation as a going concern is dependent
on our ability to establish ourselves as a profitable business. To date, our cash flow requirements have been met by equity financings.
We will need to raise additional capital in order to meet our obligations and execute our business plan. There is no assurance
that additional equity financing will be available when needed or that our management will be able to obtain such financing on
terms acceptable to us or that we will become profitable and generate positive cash flow in the future. If we are unable to raise
sufficient additional funds, we will have to develop and implement a plan to extend payables, reduce overhead or scale back our
business plan until sufficient capital is raised to support further operations. There can be no assurance that such a plan will
be successful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please see the section
entitled &ldquo;Risk Factors&rdquo; in this prospectus for additional risks associated with our substantial capital requirements
and our ability to continue as a going concern.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Contractual obligations</U></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
provides a listing of our significant contractual obligations as of March 31, 2019 and June 30, 2018:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Payments Due by Period As of March 31, 2019</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Contractual Obligations</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Less than 1 Year</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">1-3 Years</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">3-5 Years</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">More than 5 Years</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; padding-bottom: 1.5pt; text-indent: -0.15in; padding-left: 0.15in">Operating lease obligations(1)</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">289,645</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">19,617</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">270,028</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.15in; padding-left: 0.15in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; text-indent: -0.15in; padding-left: 0.15in">Total</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">289,645</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">19,617</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">270,028</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future
minimum lease payments under operating lease for our current office space in Ann Arbor, Michigan that expires May 5, 2022. We
have no long-term debt obligations, capital lease obligations or purchase obligations.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt 0">Payments Due by Period As of June 30, 2018</P>


</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Contractual Obligations</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Less than 1 Year</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">1-3 Years</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">3-5 Years</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">More than 5 Years</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; text-indent: -0.15in; padding-left: 0.15in; padding-bottom: 1.5pt">Operating lease obligations(1)</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">$</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1.5pt solid">37,333</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">$</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1.5pt solid">37,333</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">$</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1.5pt solid">&mdash;</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">$</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1.5pt solid">&mdash;</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">$</TD><TD STYLE="width: 9%; text-align: right; border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.15in; padding-left: 0.15in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.15in; padding-left: 0.15in; padding-bottom: 4pt">Total</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 4pt double">37,333</TD><TD STYLE="text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 4pt double">37,333</TD><TD STYLE="text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 4pt double">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 4pt double">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 4pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 4pt double">&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 4pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Future
                                         minimum lease payments under operating lease for our current office space in Ann Arbor,
                                         Michigan that expires May 5, 2019. We have no long-term debt obligations, capital lease
                                         obligations or purchase obligations.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We enter into agreements
in the normal course of business with contractors and vendors, and other services and products for operating purposes, which are
cancelable at any time by us, generally upon 30 days prior written notice.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Off-Balance Sheet Arrangements</U></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As at March 31, 2019 and June 30, 2018,
we did not have, and we do not currently have, any off-balance sheet arrangements.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Related Party Transactions</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a description
of our related party transactions, see &ldquo;Certain Relationships and Related Party Transactions.&rdquo;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective at the Effective
Time of the Merger, Raich Ende Malter &amp; Co. LLP, was dismissed as the independent registered public accounting firm that audits
the financial statements of our Company. The decision to dismiss Raich Ende Malter &amp; Co. LLP was approved by our board of
directors. Effective as of the Effective Time, our board of directors engaged Deloitte &amp; Touche LLP, as the independent registered
public accounting firm to audit the Company&rsquo;s financial statements for the fiscal year ending June 30, 2018.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raich Ende Malter
&amp; Co. LLP&rsquo;s audit report on our financial statements for the period from April 6, 2017 (Lola One Acquisition Corporation&rsquo;s
inception) through May 31, 2017 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified
as to uncertainty, audit scope or accounting principles except that the report dated June 26, 2017 contained statements indicating
there is substantial doubt about the Company&rsquo;s ability to continue as a going concern.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the period
from April 6, 2017 through May 31, 2017 and the subsequent interim period through the date of Raich Ende Malter &amp; Co. LLP&rsquo;s
dismissal, there were no disagreements with Raich Ende Malter &amp; Co. LLP on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Raich
Ende Malter &amp; Co. LLP would have caused it to make reference to the subject matter thereof in connection with its report.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the period
from April 6, 2017 through May 31, 2017 and the subsequent interim period through the date of Raich Ende Malter &amp; Co. LLP&rsquo;s
dismissal, neither the Company nor anyone acting on its behalf consulted Deloitte &amp; Touche LLP regarding the application of
accounting principles to a specified transaction, either completed or proposed or the type of audit opinion that might be rendered
on the Company&rsquo;s financial statements.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have provided Raich
Ende Malter &amp; Co. LLP with a copy of this report prior to the filing hereof and have requested that Raich Ende Malter &amp;
Co. LLP furnish to us a letter addressed to the SEC stating whether it agrees with the statements made by us in this report. Raich
Ende Malter &amp; Co. LLP has furnished such letter, which letter is filed as Exhibit 16.1 hereto, as required by Item 304(a)(3)
of Regulation S-K.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_008"></A>DIRECTORS AND
EXECUTIVE OFFICERS</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth the names
and certain information regarding each of our directors and executive officers as of June 27, 2019:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NAME</B></FONT></P></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>POSITION(S)</B></FONT></P></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 16%; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: black 1.5pt solid; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>AGE</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ann Marie Sastry, Ph.D. (3) (4)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer,
    Director</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">51</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rick DiBartolomeo (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jay Majumdar</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Vice President of Partnerships</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">J. Michael Losh (1) (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Edward H. Frank, Ph.D. (2) (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard Ogawa (2) (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anthony M. Barkett (1) (2) (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</FONT></TD></TR>
</TABLE>


<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Member of the audit
                                         committee.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Member of the compensation
                                         committee.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">The entire board
                                         of directors serves as the nominating and corporate governance committee.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Chairman of the
                                         board of directors.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Effective as of
                                         November 12, 2018, Mr. DiBartolomeo was appointed as our Chief Financial Officer.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Executive Officers</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Ann Marie Sastry, Ph.D., Chief Executive Officer
and Chairman of the board of directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dr. Sastry is President
and Chief Executive Officer of Amesite, since its incorporation in November 2017. From April 2008 to October 2015, Dr. Sastry
served as the President, Chief Executive Officer, member of the board of directors and co-founder of Sakti3, recognized as one
of the Massachusetts Institute of Technology&rsquo;s 50 Smartest Companies in 2015 and as a Crain&rsquo;s Detroit Business Cool
Places to Work winner in 2017. Backed by a global team of venture capitalists Sakit3 was sold to Dyson Ltd. in 2015 for $90 million.
Dr. Sastry was invited to the White House in 2015 to be recognized for her technology entrepreneurship, and meet with President
Barack Obama. Her technology and business work have been featured in the WSJ, Fortune, Forbes, the Economist, USA Today, the New
York Times and on the cover of Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to starting
her companies, Dr. Sastry was a professor of engineering at the University of Michigan, which is ranked among top 5 public universities
in the nation. Dr. Sastry was named an Arthur F. Thurnau Professor (UM&rsquo;s highest teaching honor) in 2008. Tenured and promoted
early, Sastry was recognized with some of the highest honors in her scientific fields over her 17 year academic career, including
the ASME Frank Kreith Energy Award (2011) and NSF&rsquo;s Presidential Early Career Award for Scientists and Engineers (1997).
She founded two academic research centers in intracellular signaling (Keck Foundation) and advanced automotive batteries (GM /
Department of Energy), and a global graduate program in Energy Systems Engineering. She has co-authored over 100 publications
and 100 patents and filings, and has delivered over 100 invited lectures and seminars globally on a range of scientific and technology
topics, spanning mathematics, physics, bioscience and battery technology. Sastry is active in philanthropy and business mentorship,
with a focus on education and poverty alleviation. She holds PhD and MS degrees from Cornell University, and a BS from the University
of Delaware, all in mechanical engineering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that Dr.
Sastry&rsquo;s experience working with successful companies and her experience in education qualifies her to serve on our board
of directors.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Rick DiBartolomeo, Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. DiBartolomeo was
appointed to serve as our Chief Financial Officer with an effective date of November 12, 2018. From January 1982 to October 2007,
Mr. DiBartolomeo served as a Partner at Deloitte &amp; Touche, LLP. From October 2007 to March 2010, Mr. DiBartolomeo served as
Principal in Charge of Assurance and Advisory Services for the Southeastern Michigan offices of The Rehmann Group. From April
2010 to June 2012, Mr. DiBartolomeo served as Executive Director for the Rick Snyder for Michigan Committee. From June 2012 to
October 2014, Mr. DiBartolomeo served as Administrator-Defined Contributions, Trust &amp; Agencies Division for the State of Michigan.
From October 2014 to January 2016, Mr. DiBartolomeo served as Chief Financial Officer-Unemployment Insurance Agency of the State
of Michigan. Since May 2016, Mr. DiBartolomeo has been providing part time CFO consulting services to small and mid-size companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Jay Majumdar, Vice
President of Partnerships</I></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Mr.
Majumdar was appointed to serve as our Vice President of Partnerships with an effective date of April 18, 2019. From March 2018
to March 2019, Mr. Majumdar served as a Vice President Sales at Digimind, LLP.&nbsp; From Feb 2014 to March 2018, Mr. Majumdar
served as Vice President Sales at Dentsu Aegis- ICUC. From April 2009 to June 2014, Mr. Majumdar served as Global Vice President
of Sales at Crisp thinking, Inc.&nbsp; From June 2000 to April 2009, Mr. Majumdar served as Chief Sales Officer for the Super
Computer Inc.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Non-Employee Directors</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">J. Michael Losh, Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Losh has served
as a member of Amesite OpCo&rsquo;s board of directors since February 2018. Mr. Losh served as the Chief Financial Officer at
Cardinal Health from July 2004 to May 2005. Mr. Losh was with General Motors from 1964 to 2000. He served as the Chief Financial
Officer and Executive Vice President of General Motors Corp., the world&rsquo;s largest vehicle manufacturer, from July 1994 to
August 2000. He is the Chairman of the Board of Masco Corp. (2015-present), and Director at Aon PLC (2003-present), HB Fuller
Co (2001-present), and Prologis, Inc. (2012-present). Mr. Losh has served as a director of AMB Corp., Cardinal Health Inc., Care
Fusion Inc., Electronic Data Systems Corp., Delphi Automotive Systems Corp., Hughes Electronics, Quaker Oats Company, and TRW
Automotive Inc. He served as Chairman of the boards of GMAC and Metaldyne Corp. Mr. Losh holds a B.S. in Mechanical Engineering
from Kettering University and an M.B.A. from Harvard University. We believe that Mr. Losh&rsquo;s public company experience qualifies
him to serve on our board of directors.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Dr. Edward H. Frank, Ph.D., Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dr. Edward H. Frank
is presently co-founder and CEO of Brilliant Lime, Inc., a very early-stage technology development startup. Previously, he was
co-founder and CEO of Cloud Parity Inc., a voice-of-the-customer startup in the San Francisco Bay Area, founded in late 2013.
From 2009 through 2013, he was Vice President of Macintosh Hardware Systems Engineering at Apple, Inc. where he led the development
of four generations of Macintosh laptop and desktop computers. Before joining Apple, he was Corporate Vice President of Research
and Development at Broadcom, where he was responsible for Broadcom&rsquo;s overall engineering execution and played a key role
in corporate business and IP strategy. Prior to becoming Corporate VP of Research and Development, Dr. Frank co-founded and led
the engineering group for Broadcom&rsquo;s Wireless LAN business, which is now one of Broadcom&rsquo;s largest business units.
Dr. Frank joined Broadcom in May 1999 following its acquisition of Epigram, Inc., where he was the founding CEO and Executive
Vice President. From 1993 to 1996, he was a co-founder and Vice President of Engineering of NeTpower, Inc., a computer workstation
manufacturer. From 1988 to 1993, Dr. Frank was a Distinguished Engineer at Sun Microsystems, Inc., where he co-architected several
generations of Sun&rsquo;s SPARCstations and was a principal member of Sun&rsquo;s Green Project, which developed the precursor
to the Java cross-platform web programming language. Dr. Frank holds over 50 issued patents. He presently serves on the boards
of directors of Analog Devices (ADI), Cavium (CAVM), Quantenna (QTNA), and eASIC, and is an advisor to several Bay Area venture
capital firms and startups. Dr. Frank holds BSEE and MSEE degrees from Stanford University. He received a Ph.D. in computer science
from Carnegie Mellon University, where he was a Hertz Foundation Fellow. In 2018, he was elected to the National Academy of Engineering
for his contributions to the development and commercialization of wireless systems. Dr. Frank has been a Trustee of Carnegie Mellon
University since 2000 and is currently a Vice-Chairman of its Board of Trustees. Dr. Frank is also the Executive Director (pro
bono) of Metallica&rsquo;s All Within My Hands Foundation, and is the founder and vintner of Compass Vineyards, in Napa California,
a boutique producer of 100% estate grown Cabernet Sauvignon. We believe that Dr. Frank&rsquo;s public company experience qualifies
him to serve on our board of directors.</P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Richard Ogawa, J.D., Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Ogawa has served
as a member of Amesite OpCo&rsquo;s board of directors since February 2018. Mr. Richard T. Ogawa has been General Counsel at Inphi
Corporation, responsible for overseeing legal matters as well as corporate, intellectual property, and government affairs. Mr.
Ogawa is a Registered United States Patent Attorney and a Member of the California State Bar with more than 25 years of experience
specializing in technology companies. Prior to Inphi, he was a Partner at Townsend and Townsend, a law firm focused on intellectual
property. He is the founder and owner of Ogawa Professional Corporation, his own law firm, focusing on venture backed startup
companies. He is General Counsel for Soraa Laser Diode, Inc., a venture funded company by Khosla Ventures, and is General Counsel
for MCube, Inc. a venture funded company by Kleiner Perkins Caufield &amp; Byers. He has also held a variety of engineering and
management positions at NEC Electronics. He is a Charter Member of the Indus Entrepreneur Group (TIE) and had been a member of
the boards of the Asian Law Alliance, American Intellectual Property Law Association, and others. Mr. Ogawa also served as a Partner
Member for Technology Group 2800 of the United States Patent and Trademark Office. He received a B.S. in Chemical Engineering
from the University of California, Davis in 1984, and a J.D. from McGeorge School of Law, University of Pacific in 1991. We believe
that Mr. Ogawa&rsquo;s experience as an attorney and his patent expertise qualifies him to serve on our board of directors.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Anthony M. Barkett, J.D., Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Barkett has served
as a member of Amesite OpCo&rsquo;s board of directors since February 2018. Mr. Barkett is a California- based real estate developer.
He holds Bachelor of Arts degrees in Economics and Political Science from the University of California at Los Angeles, as well
as a Juris Doctor degree from the University of the Pacific McGeorge School of Law. Mr. Barkett practiced law from 94-2003 specializing
in land use, affordable housing and government relations. He is currently the managing member of several LLC&rsquo;s which developed
and now own and manage commercial real estate in CA, Arizona and Hawaii. He is the managing member of Oliveto, LLC which farms
and manages olive and walnut orchards in Linden, CA. He is the CEO of Trinity Solar and managing member of Affordable Energy Partners,
LLC which built and still owns and manages solar systems throughout CA. In 2013 he was appointed by Governor Jerry Brown to the
California Citizens Compensation Commission, a State commission that sets compensation for the legislature. He is a board member
and has been for 17 years of the Downtown Stockton Alliance which is a property owner based 501c 3 organized to promote and restore
downtown Stockton, He is a political consultant for Stockton East Water District and has held this position for 20 years. In 2016,
He was a co-founder of Ready to Work a 501 c3 corporation formed to help homeless and previously incarcerated men get paid work,
job training and permanent housing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that Mr.
Barkett&rsquo;s non-profit experience qualifies him to serve on our board of directors.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Involvement in certain legal proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None of the following
events has occurred during the past ten years and which are material to an evaluation of the ability or integrity of any director
or executive officer:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(1) A petition under the federal
bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed
by a court for the business or property of such person, or any partnership in which he was general partner at or within two years
before the time of such filing, or any corporation or business association of which he was an executive officer at or within two
years before the time of such filing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(2) Such person was convicted
in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor
offenses);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(3) Such person was the subject
of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently
or temporarily enjoining him from, or otherwise limiting, the following activities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(i)</TD><TD STYLE="text-align: justify">Acting as a
                                         futures commission merchant, introducing broker, commodity trading advisor, commodity
                                         pool operator, floor broker, leverage transaction merchant, any other person regulated
                                         by the Commodity Futures Trading Commission, or an associated person of any of the foregoing,
                                         or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated
                                         person, director or employee of any investment company, bank, savings and loan association
                                         or insurance company, or engaging in or continuing any conduct or practice in connection
                                         with such activity;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">Engaging in
                                         any type of business practice; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">Engaging
                                         in any activity in connection with the purchase or sale of any security or commodity
                                         or in connection with any violation of federal or state securities laws or federal commodities
                                         laws;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(4) Such person was the subject
of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring,
suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph
(3)(i) above, or to be associated with persons engaged in any such activity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(5) Such person was found by
a court of competent jurisdiction in a civil action or by the SEC to have violated any Federal or state securities law, and the
judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended, or vacated;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(6) Such person was found by
a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal
commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently
reversed, suspended or vacated;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(7) Such person was the subject
of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
suspended or vacated, relating to an alleged violation of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(i)</TD><TD STYLE="text-align: justify">Any federal
                                         or state securities or commodities law or regulation; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">Any law or
                                         regulation respecting financial institutions or insurance companies including, but not
                                         limited to, a temporary or permanent injunction, order of disgorgement or restitution,
                                         civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition
                                         order; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">Any law or
                                         regulation prohibiting mail or wire fraud or fraud in connection with any business entity;
                                         or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(8) Such person was the subject
of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization,
any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its
members or persons associated with a member.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Board Composition</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of our directors
will hold office until their successors have been elected and qualified or appointed or the earlier of their death, resignation
or removal. Executive officers are appointed and serve at the discretion of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have a staggered
board. Our directors are divided into three classes, designated as Class I, consisting of two directors, Class II, consisting
of one director, and Class III, consisting of two directors, with no more than one class eligible for re-election at any annual
stockholder meeting. The two Class I directors were initially elected for a term expiring on the date of our 2018 annual stockholder
meeting and at that meeting were elected to serve a new term of three years. The Class II director has been initially elected
for a term expiring on the date of our 2019 annual stockholder meeting and thereafter will be elected to serve terms of three
years. The two Class III directors have been initially elected for a term expiring on the date of our 2020 annual stockholder
meeting. The division of our board of directors into three classes with staggered three year terms after the initial term may
delay or prevent a change of our management or a change in control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth the names and classes of our directors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Class I directors</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Class II director</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Class III directors</P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>J. Michael Losh</TD>
    <TD>&nbsp;</TD>
    <TD>Ann Marie Sastry</TD>
    <TD>&nbsp;</TD>
    <TD>Anthony Barkett</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Richard Ogawa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dr. Edward H. Frank</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director Independence</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our securities are
not listed on a national securities exchange or on any inter-dealer quotation system, which has a requirement that a majority
of directors be independent. We evaluate independence by the standards for director independence set forth in the NASDAQ Marketplace
Rules and the rules and regulations of the SEC. Under such rules, our board of directors has determined that other than Dr. Sastry
and Mr. Ogawa, the other members of our board of directors are independent directors. In making such independence determination,
our board of directors considered the relationships that each non-employee director has with us and all other facts and circumstances
that our board of directors deemed relevant in determining their independence, including the beneficial ownership of our capital
stock by each non-employee director. In considering the independence of the directors, our board of directors considered the association
of our directors with the holders of more than 5% of our common stock. We expect to transition the composition and functioning
of our board of directors and each of our committees to comply with all applicable requirements of the NASDAQ Stock Market and
the rules and regulations of the SEC. There are no family relationships among any of our directors or executive officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Board Diversity</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our nominating and
corporate governance committee will be responsible for reviewing with the board of directors, on an annual basis, the appropriate
characteristics, skills and experience required for the board of directors as a whole and its individual members. In evaluating
the suitability of individual candidates (both new candidates and current members), the nominating and corporate governance committee,
in recommending candidates for election, and the board of directors, in approving (and, in the case of vacancies, appointing)
such candidates, will consider many factors, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">diversity
                                         of personal and professional background, perspective and experience;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">personal
                                         and professional integrity, ethics and values;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">experience
                                         in corporate management, operations or finance, such as serving as an officer or former
                                         officer of a publicly held company, and a general understanding of marketing, finance
                                         and other elements relevant to the success of a publicly-traded company in today&rsquo;s
                                         business environment;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">experience
                                         relevant to our industry and with relevant social policy concerns;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">experience
                                         as a board member or executive officer of another publicly held company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">relevant
                                         academic expertise or other proficiency in an area of our operations;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">practical
                                         and mature business judgment, including ability to make independent analytical inquiries;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">promotion
                                         of a diversity of business or career experience relevant to our success; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any other
                                         relevant qualifications, attributes or skills.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, our board
of directors evaluates each individual in the context of the board of directors as a whole, with the objective of assembling a
group that can best maximize the success of the business and represent stockholder interests through the exercise of sound judgment
using its diversity of experience in these various areas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Standing Committees of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have three standing committees: the Audit Committee, the
Compensation Committee and the Nominating and Governance Committee. The current members of the committees are identified in the
following table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 61%; border-bottom: black 1.5pt solid"><B>Director</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1.5pt solid; text-align: center"><B>Audit Committee</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1.5pt solid; text-align: center"><B>Compensation Committee</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1.5pt solid; text-align: center"><B>Nominating and Governance Committee</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Ann Marie Sastry, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&mdash;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&mdash;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>J. Michael Losh</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;X*</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&mdash;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Edward Frank, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Richard Ogawa</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;X*</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Anthony Barkett</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">X</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Indicates chair of
                                         the committee.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Audit committee</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Audit Committee
of our Board of Directors currently consists of Mr. Losh, Dr. Frank and Mr. Barkett.&nbsp;&nbsp;Mr. Losh serves as chair of the
committee. All members of our Audit Committee meet the requirements for financial literacy under applicable SEC and NASDAQ rules.
Our Board of Directors has determined that Mr. Losh qualifies as an &ldquo;audit committee financial expert&rdquo; under applicable
SEC rules and has the financial sophistication required under applicable NASDAQ rules. Our Board of Directors also determined
that all members of the Audit Committee are independent directors under applicable SEC and NASDAQ rules, including Section 10A
of the Exchange Act. The Audit Committee operates under a charter. The purpose of the Audit Committee is to oversee our accounting
and financial reporting processes and the audits of our financial statements. This committee&rsquo;s responsibilities include,
among other things:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 0.5in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 0.25in">&#9679;</TD>
    <TD STYLE="text-align: justify">appointing our independent registered public accounting firm;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">reviewing the qualifications, independence and quality control procedures of our independent
    auditor and the experience and qualifications of the independent auditor&rsquo;s senior personnel;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">evaluating the performance of our independent registered public accounting firm;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">approving the audit and non-audit services to be performed by our independent registered public
    accounting firm;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">establishing procedures for the receipt, retention and treatment of complaints we receive
    regarding accounting, internal accounting controls or auditing matters;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">discussing with management and the independent registered public accounting firm the results
    of our annual audit and the review of our quarterly unaudited financial statements;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">determining, based upon review of the annual audit and review of our annual financial statements,
    whether to recommend to the Board of Directors that the audited financial statements be included in the Company&rsquo;s Annual
    Report on Form 10-K for the fiscal year subject to the audit;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">reviewing, overseeing and monitoring the integrity of our financial statements and our compliance
    with legal and regulatory requirements as they relate to financial statements or accounting matters;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">discussing with our internal counsel or outside counsel any legal matters brought to the attention
    of the Audit Committee that could reasonably be expected to have a material impact of our financial statements;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">preparing the report with respect to our audited financial statements that the SEC requires
    for inclusion in each of our annual proxy statements;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">reviewing and approving any related party transactions on an ongoing basis;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">reviewing and reassessing, at least annually, our Audit Committee charter and submitting any
    recommended changes to the Board of Directors for its consideration; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&#9679;</TD>
    <TD STYLE="text-align: justify">reviewing and evaluating, at least annually, the performance of the Audit Committee and its
    members including compliance of the audit committee with its charter.</TD></TR>
</TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Compensation committee</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
of our Board of Directors currently consists of Mr. Ogawa, Dr. Frank and Mr. Barkett. Mr. Barkett serves as chair of the committee.
Our Board of Directors has determined that all members of the Compensation Committee, other than Mr. Ogawa, are independent directors
under applicable NASDAQ rules. The purpose of the Compensation Committee is to discharge the responsibilities of our Board of
Directors relating to compensation of our executives. Pursuant to the Compensation Committee&rsquo;s charter, it may delegate
any of its responsibilities, along with the authority to take action related to the delegated responsibilities, to a subcommittee
consisting of at least one member of the Compensation Committee. However, any delegation by the Compensation Committee may only
be to the extent that it is consistent with the Internal Revenue Code, as amended (the &ldquo;Code&rdquo;), and with applicable
laws, regulations and NASDAQ listing rules. The committee&rsquo;s responsibilities include, among other things:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">reviewing
                                         and approving corporate goals and objectives relevant to the compensation of the chief
                                         executive officer;</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">evaluating
                                         the performance of our chief executive officer in light of such corporate goals and objectives
                                         and approving the compensation of the chief executive officer;</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">reviewing
                                         and approving the compensation of our other executive officers;</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">reviewing
                                         the compensation, welfare, benefit and pension plans and similar plans;</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">reviewing
                                         and making recommendations to the board of directors with respect to director compensation;
                                         and</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">preparing
                                         for inclusion in the proxy statement the report, if any, of the compensation committee
                                         required by the SEC.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The compensation committee
will have the power to investigate any matter brought to its attention within the scope of its duties and will have the authority
to retain counsel and advisors to fulfill its responsibilities and duties.&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Nominating and corporate governance committee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the size and
structure of the Company, we do not have a designated nominating and corporate governance committee. The entire Board is responsible
for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">developing criteria for membership
                                         on the board of directors and committees;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">identifying individuals qualified
                                         to become members of the board of directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">recommending persons to be
                                         nominated for election as directors and to each committee of the board of directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">annually reviewing our corporate
                                         governance guidelines; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">monitoring and evaluating the
                                         performance of the board of directors and leading the board in an annual self-assessment
                                         of its practices and effectiveness.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risk Assessment and Compensation Practices</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management assessed
and discussed with our compensation committee our compensation policies and practices for our employees as they relate to our
risk management and, based upon this assessment, we believe that any risks arising from such policies and practices are not reasonably
likely to have a material adverse effect on us in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our employees&rsquo;
base salaries are fixed in amount and thus we do not believe that they encourage excessive risk taking. While performance-based
cash bonuses focus on achievement of short-term or annual goals, which may encourage the taking of short-term or annual risks
at the expense of long-term results, we believe that our compensation policies help mitigate this risk and our performance-based
cash bonuses are limited, representing a small portion of the total compensation opportunities available to most employees. We
also believe that our performance-based cash bonuses appropriately balance risk and the desire to focus our employees on specific
short-term goals important to our success and do not encourage unnecessary or excessive risk taking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A significant proportion
of the compensation provided to our employees is in the form of long-term equity-based incentives that we believe are important
to help further align our employees&rsquo; interests with those of our stockholders. We do not believe that these equity-based
incentives encourage unnecessary or excessive risk taking because their ultimate value is tied to our stock price.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Code of Business Conduct and Ethics</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have adopted a
code of business conduct and ethics that applies to all of our employees, officers and directors, including those officers responsible
for financial reporting. Following the closing of the Merger, the code of business conduct and ethics will be available on our
website at www.amesite.com. We expect that any amendments to the code, or any waivers of its requirements, will be disclosed on
our website.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Limitation of Liability and Indemnification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
certificate of incorporation will provide that to the fullest extent permitted by the General Corporation Law, a director shall
not be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. Our amended
and restated bylaws provide that we shall indemnify and hold harmless our directors and officers to the fullest extent permitted
by applicable law, except that we will not be required to indemnify or hold harmless any director or officer in connection with
any proceeding initiated by such person unless the proceeding was authorized by our board of directors. Under our amended and
restated bylaws, such rights shall not be exclusive of any other rights acquired by directors and officers, including by agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
bylaws provide that we will pay expenses to any director or officer prior to the final disposition of the proceeding, provided,
however, that such advancements shall be made only upon receipt of an undertaking by such director or officer to repay all amounts
advanced if it should be ultimately determined that such director or officer is not entitled to indemnification under the amended
and restated bylaws of or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the
indemnification obligations required by our amended and restated certificate of incorporation and amended and restated bylaws,
we have entered into indemnification agreements with each of our directors and officers. These agreements provide for the indemnification
of our directors and executive officers for all reasonable expenses and liabilities incurred in connection with any action or
proceeding brought or threatened to be brought against them by reason of the fact that they are or were our agents. We believe
that these amended and restated certificate of incorporation provisions, amended and restated bylaw provisions and indemnification
agreements are necessary to attract and retain qualified persons as directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a condition to
the Merger, we also entered into a Pre-Merger Indemnity Agreement with our former officers and directors, pursuant to which we
agreed to indemnify such former officers and directors for actions taken by them in their official capacities relating to the
consideration, approval and consummation of the Merger and certain related transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect to obtain
general liability insurance that covers certain liabilities of our directors and officers arising out of claims based on acts
or omissions in their capacities as directors or officers, including liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the us pursuant
to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The above provisions
may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. The provisions may
also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action,
if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder&rsquo;s investment may be adversely
affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions. We believe that these provisions, the indemnification agreements and the insurance are necessary to attract and retain
talented and experienced directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At present, there
is no pending litigation or proceeding involving any of our directors or officers where indemnification will be required or permitted.
We are not aware of any threatened litigation or proceedings that might result in a claim for such indemnification.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_009"></A>EXECUTIVE AND
DIRECTOR COMPENSATION</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Director Compensation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 28,
2018, Amesite OpCo granted (i) 50,000 options (which were converted into 72,917 options of Amesite following the consummation
of the Merger) to Anthony Barkett, (ii) 50,000 options (which were converted into 72,917 options of Amesite following the
consummation of the Merger) to Edward Frank, (iii) 75,000 options (which were converted into 109,375 options of Amesite
following the consummation of the Merger) to Michael Losh, and (iv) 75,000 options (which were converted into 109,375 options
of Amesite following the consummation of the Merger) to Richard Ogawa. 50% of the options vest one year from the date of
grant with the remainder vesting at a rate of 1/24 each month thereafter. These options were automatically converted into
options of Amesite Inc. at the closing of the Merger. We have entered into a board service agreement with each of its
non-employee directors regarding director compensation and covering reimbursement of expenses incurred by such directors in
attending meetings of our board of directors and committees thereof, and in carrying out such director&rsquo;s duties as a
director or as a member of any committee of its board of directors. These agreements, which may be amended from time to time,
will remain in place.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Consulting Arrangement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 29, 2018,
the board of directors of Amesite OpCo approved a consulting agreement with Mr. Richard Ogawa whereby Mr. Ogawa will provide certain
consulting services to Amesite OpCo relating to the protection of Amesite OpCo&rsquo;s intellectual property and general business
advice for the benefit of Amesite OpCo. Amesite OpCo agreed to pay Mr. Ogawa $1,000 for each filed patent application and $1,000
for each issued or granted patent regardless of the jurisdiction or type of patent, except for provisional patent applications
for which no fee would be paid by Amesite OpCo. In addition, Amesite OpCo granted Mr. Ogawa a nonqualified stock option to purchase
200,000 shares of Amesite OpCo&rsquo;s common stock (subject to adjustment for the Merger) at an exercise price of $1.50 per share
(subject to adjustment for the Merger).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the terms of Mr. Ogawa&rsquo;s consulting agreement is qualified in its entirety by reference to the provisions of the employment
agreement filed as Exhibit 10.5 hereto.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Executive Compensation</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Overview</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Summary Compensation Table</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Amesite OpCo was incorporated
in November 2017 and no compensation was paid to it officers between incorporation and December 31, 2017. We paid our former controller
Bernie Chong $15,000 between January 1, 2018 and June 30, 2018. We paid Dr. Sastry $61,923 between January 1, 2018 and June 30,
2018.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employment and Change in Control Arrangements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generally execute
an offer of employment or employment agreement before an executive joins the company. This offer describes the basic terms of
the executive&rsquo;s employment, including his or her start date, starting salary, bonus target and any equity awards.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Ann Marie Sastry, Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dr. Sastry&rsquo;s
base salary is reviewed periodically by our Board and adjustments may be made upon the recommendations of the Compensation Committee.
Before the effective date of the Merger, our Board appointed her as our Chief Executive Officer and set her annual base salary
at $350,000. She is eligible to receive a bonus up to 60% of her annual base salary for achievement of mutually agreed upon milestones
approved by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Base salaries for
our named executive officers other than our Chief Executive Officer will typically be reviewed annually in connection with their
performance reviews.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Rick DiBartolomeo, Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the appointment of Mr. DiBartolomeo as Chief Financial Officer, the Company and Mr. DiBartolomeo entered into a consulting agreement,
effective November 12, 2018 (the &ldquo;Consulting Agreement&rdquo;), pursuant to which Mr. DiBartolomeo will receive a flat rate
of $5,000 per month for his services. Under the terms of the Consulting Agreement, the Company will engage Mr. DiBartolomeo as
an independent contractor to perform certain services, including but not limited to, serving as the Company&rsquo;s Chief Financial
Officer and performing services normally provided by a chief financial officer. The engagement of Mr. DiBartolomeo pursuant to
the Consulting Agreement will continue until the earlier of (i) the final completion of his Services (as such term is defined
in the Consulting Agreement), or (ii) the termination of the Consulting Agreement as provided in the Consulting Agreement. Each
party to the Consulting Agreement may terminate such agreement upon providing 21 days&rsquo; prior written notice of such termination
to the other party. In addition, the Company may terminate the Consulting Agreement immediately and without prior notice under
certain circumstances.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Outstanding Equity Awards at June 30, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There were no outstanding
equity awards issued to our principal executive officer or next two highest paid executive officers at June 30, 2018.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Equity Incentive Plans</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following summary
provides more detailed information concerning our equity compensation plan. This summary is qualified in its entirety by the full
text of the compensation plan and related form of award agreement, each of which has been filed as an exhibit to this prospectus.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">2017 Equity Incentive Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 14, 2017
and November 15, 2017, respectively, the Amesite OpCo board of directors adopted and its stockholders approved the Amesite Inc.
2017 Equity Incentive Plan, or the 2017 Plan. The material terms of the 2017 Plan are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Eligible participants</I>.
All officers, directors, employees, consultants, agents and independent contractors, and persons expected to become officers,
directors, employees, consultants, agents and independent contractors of our Company or any of our subsidiaries are eligible to
receive awards under the 2017 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Shares authorized</I>.
The maximum plan pool size is 1,000,000 shares of Amesite OpCo&rsquo;s common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Award Types</I>.
Awards include options, stock appreciation rights, restricted stock, or restricted stock units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">2018 Equity Incentive Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 26, 2018,
the Board adopted and the Company&rsquo;s stockholders approved the Amesite, Inc. 2018 Equity Incentive Plan, or the 2018 Plan.
The 2018 Plan is intended to align the interests of our stockholders and the recipients of awards under the 2018 Plan, and to
advance our interests by attracting and retaining directors, officers, employees and other service providers and motivating them
to act in our long-term best interests. The material terms of the 2018 Plan are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Plan term</I>.
The 2018 Plan became effective on July 23, 2018 and terminates on the tenth anniversary of its effective date, unless terminated
earlier by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Eligible participants</I>.
All officers, directors, employees, consultants, agents and independent contractors, and persons expected to become officers,
directors, employees, consultants, agents and independent contractors of our Company or any of our subsidiaries are eligible to
receive awards under the 2018 Plan. The Compensation Committee of our board will determine the participants under the 2018 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Shares authorized</I>.
2,529,000 shares of common stock will be available for awards granted under the 2018 Plan, inclusive of 1,288,195 shares subject
to options originally granted under the 2017 Plan and assumed in connection with the Merger, subject to adjustment for stock splits
and other similar changes in capitalization. The number of available shares will be reduced by the aggregate number of shares
that become subject to outstanding awards granted under the 2018 Plan. As of the first day of each calendar year beginning on
or after January 1, 2021, the number of shares available for all awards under the 2018 Plan, other than incentive stock options,
will automatically increase by a number equal to the least of (i) five percent (5%) of the number of shares of the Company&rsquo;s
common stock that are issued and outstanding as of that date, or (ii) a lesser number of shares of the Company&rsquo;s common
stock as determined by the Compensation Committee. To the extent that shares of common stock subject to an outstanding award granted
under the 2018 Plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award
or by reason of the settlement of an award in cash, then those shares of common stock will again be available under the 2018 Plan.
In addition, any shares covered by an award that have been surrendered in connection with the payment of the award exercise or
purchase price or in satisfaction of tax withholding obligations incident to the grant, exercise, vesting or settlement of an
award will be deemed not to have been issued for purposes of determining the maximum number of shares of common stock which may
be issued pursuant to all awards under the 2018 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Award types</I>.
Awards include non-qualified and incentive stock options, stock appreciation rights, bonus shares, restricted stock, restricted
stock units, performance units and cash-based awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Administration</I>.
The Compensation Committee will interpret and administer the 2018 Plan. The Compensation Committee&rsquo;s interpretation, construction
and administration of the 2018 Plan and all of its determinations thereunder will be conclusive and binding on all persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
shall have the authority to determine the participants in the 2018 Plan, the form, amount and timing of any awards, the performance
goals, if any, and all other terms and conditions pertaining to any award. The Compensation Committee may take any action such
that (i) any outstanding options and stock appreciation rights become exercisable in part or in full, (ii) all or any portion
of a restriction period on any restricted stock or restricted stock units will lapse, (iii) all or a portion of any performance
period applicable to any performance-based award will lapse, and (iv) any performance measures applicable to any outstanding award
will be deemed satisfied at the target level or any other level. Subject to the terms of the 2018 Plan relating to grants to our
executive officers and directors, the Compensation Committee may delegate some or all of its powers and authority to the Chief
Executive Officer and President or other executive officer as the Compensation Committee deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Stock options and
stock appreciation rights</I>. The 2018 Plan provides for the grant of stock options and stock appreciation rights. Stock options
may be either tax-qualified incentive stock options or non-qualified stock options. The Compensation Committee will determine
the terms and conditions to the exercisability of each option and stock appreciation right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The period for the
exercise of a non-qualified stock option or stock appreciation right will be determined by the Compensation Committee provided
that no option may be exercised later than ten years after its date of grant. The exercise price of a non-qualified stock option
and the base price of a stock appreciation right will not be less than 100% of the fair market value of a share of our common
stock on the date of grant, provided that the base price of a stock appreciation right granted in tandem with an option will be
the exercise price of the related option. A stock appreciation right entitles the holder to receive upon exercise, subject to
tax withholding in respect of an employee, shares of our common stock, which may be restricted stock, with a value equal to the
difference between the fair market value of our common stock on the exercise date and the base price of the stock appreciation
right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each incentive stock
option will be exercisable for not more than 10 years after its date of grant, unless the optionee owns greater than 10% of the
voting power of all shares of our capital stock, or a &ldquo;ten percent holder&rdquo;, in which case the option will be exercisable
for not more than five years after its date of grant. The exercise price of an incentive stock option will not be less than the
fair market value of a share of our common stock on its date of grant, unless the optionee is a ten percent holder, in which case
the option exercise price will be the price required by the Code, currently 110% of fair market value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon exercise, the
option exercise price may be paid in cash, by the delivery of previously owned shares of our common stock, share withholding or
through a cashless exercise arrangement, as permitted by the applicable award agreement. All of the terms relating to the exercise,
cancellation or other disposition of an option or stock appreciation right upon a termination of employment, whether by reason
of disability, retirement, death or any other reason, will be determined by the Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee,
without stockholder approval, may (i) reduce the exercise price of any previously granted option or the base appreciation amount
of any previously granted stock appreciation right, or (ii) cancel any previously granted option or stock appreciation right at
a time when its exercise price or base appreciation amount (as applicable) exceeds the fair market value of the underlying shares,
in exchange for another option, stock appreciation right or other award or for cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Stock awards</I>.
The 2018 Plan provides for the grant of stock awards. The Compensation Committee may grant a stock award as a bonus stock award,
a restricted stock award or a restricted stock unit award and, in the case of a restricted stock award or restricted stock unit
award, the Compensation Committee may determine that such award will be subject to the attainment of performance measures over
an established performance period. All of the terms relating to the satisfaction of performance measures and the termination of
a restriction period, or the forfeiture and cancellation of a stock award upon a termination of employment, whether by reason
of disability, retirement, death or any other reason, will be determined by the Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The agreement awarding
restricted stock units will specify whether such award may be settled in shares of our common stock, cash or a combination thereof
and whether the holder will be entitled to receive dividend equivalents, on a current or deferred basis, with respect to such
award. Prior to settlement of a restricted stock unit in shares of our common stock, the holder of a restricted stock unit will
have no rights as our stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise set
forth in a restricted stock award agreement, the holder of shares of restricted stock will have rights as our stockholder, including
the right to vote and receive dividends with respect to the shares of restricted stock, except that distributions other than regular
cash dividends and regular cash dividends with respect to shares of restricted stock subject to performance-based vesting conditions
will be held by us and will be subject to the same restrictions as the restricted stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Performance unit
awards</I>. The 2018 Plan provides for the grant of performance unit awards. Each performance unit is a right, contingent upon
the attainment of performance measures within a specified performance period, to receive a specified cash amount, shares of our
common stock or a combination thereof which may be restricted stock, having a fair market value equal to such cash amount. Prior
to the settlement of a performance unit award in shares of our common stock, the holder of such award will have no rights as our
stockholder with respect to such shares. Performance units will be non-transferable and subject to forfeiture if the specified
performance measures are not attained during the specified performance period. All of the terms relating to the satisfaction of
performance measures and the termination of a performance period, or the forfeiture and cancellation of a performance unit award
upon a termination of employment, whether by reason of disability, retirement, death or any other reason, will be determined by
the Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Cash-based awards</I>.
The 2018 Plan also provides for the grant of cash-based awards. Each cash-based award is an award denominated in cash that may
be settled in cash and/or shares, which may be subject to restrictions, as established by the Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Performance goals</I>.
Under the 2018 Plan, the vesting or payment of performance-based awards will be subject to the satisfaction of certain performance
goals. The performance goals applicable to a particular award will be determined by the Compensation Committee at the time of
grant. The performance goals may be one or more of the following corporate-wide or subsidiary, division, operating unit or individual
measures, stated in either absolute terms or relative terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Individual Limits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to non-employee
directors, the maximum grant date fair value of shares that may be granted to an individual non-employee director during any fiscal
year of the Company is $150,000. In connection with a non-employee director&rsquo;s commencement of service with the Company,
the per person limit set forth in the previous sentence will be $150,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Amendment or termination
of the 2018 Plan</I>. The board may amend or terminate the 2018 Plan as it deems advisable, subject to any requirement of stockholder
approval required by law, rule or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Change of control</I>.
In the event of a change of control, our Board may, in its discretion, (1) provide that (A) some or all outstanding options and
stock appreciation rights will immediately become exercisable in full or in part, (B) the restriction period applicable to some
or all outstanding stock awards will lapse in full or in part, (C) the performance period applicable to some or all outstanding
awards will lapse in full or in part, and (D) the performance measures applicable to some or all outstanding awards will be deemed
to be satisfied at the target or any other level, (2) provide that some or all outstanding awards will terminate without consideration
as of the date of the change of control, (3) require that shares of stock of the corporation resulting from such change of control,
or a parent corporation thereof, be substituted for some or all of our shares subject to an outstanding award, and/or (4) require
outstanding awards, in whole or in part, to be surrendered by the holder, and to be immediately canceled, and to provide for the
holder to receive (A) a cash payment in an amount equal to (i) in the case of an option or stock appreciation right, the number
of our shares then subject to the portion of such option or stock appreciation right surrendered, whether vested or unvested,
multiplied by the excess, if any, of the fair market value of a share of our common stock as of the date of the change of control,
over the purchase price or base price per share of our common stock subject to such option or stock appreciation right, (ii) in
the case of a stock award, the number of shares of our common stock then subject to the portion of such award surrendered, whether
vested or unvested, multiplied by the fair market value of a share of our common stock as of the date of the change of control,
and (iii) in the case of a performance unit award, the value of the performance units then subject to the portion of such award
surrendered; (B) shares of capital stock of the corporation resulting from such change of control, or a parent corporation thereof,
having a fair market value not less than the amount determined under clause (A) above; or (C) a combination of the payment of
cash pursuant to clause (A) above and the issuance of shares pursuant to clause (B) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the 2018 Plan,
a change of control will occur upon: (i) a person&rsquo;s or entity&rsquo;s acquisition, other than from us, of beneficial ownership
of 50% or more of either our then outstanding shares or the combined voting power of our then outstanding voting securities, but
excluding certain acquisitions by the company, its subsidiaries or employee benefit plans, or by a corporation in which our stockholders
hold a majority interest; (ii) a reorganization, merger or consolidation of the company if our stockholders do not thereafter
beneficially own more than 50% of the outstanding shares or combined voting power of the resulting company, (iii) certain changes
to the incumbent directors of our Company, or (iv) a complete liquidation or dissolution of the company or of the sale or other
disposition of all or substantially all of our assets; but excluding, in any case, the initial public offering or any bona fide
primary or secondary public offering following the occurrence of the initial public offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>New plan benefits</I>.
The benefits that might be received by officers, employees and non-employee directors cannot be determined at this time. All officers,
employees and non-employee directors are eligible for consideration to participate in the 2018 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Equity Compensation Plan Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The following table summarizes securities available
under our equity compensation plans as of June&nbsp;27, 2019.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Number of</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">securities</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">available for</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Number of</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">future</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">securities</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Weighted</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">issuance</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">to be issued</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">average</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">under equity</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">upon</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">exercise</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">compensation</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">exercise of</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">price of</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">plans</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">outstanding</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">outstanding</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(excluding</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">options,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">options,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">securities</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">warrants</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">warrants</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">reflected in</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">and rights</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">and rights</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">column (a))</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Equity compensation plans approved by security holders:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%">2018 Plan(1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,091,833</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.50</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,437,167</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Equity compensation plans not approved by security holders:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&mdash;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_010"></A>CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Below we describe
transactions and series of related transactions to which we were a party, or may be a party, and which we have entered into since
our incorporation in November 2017, or is currently proposed, in which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the amounts
                                         involved exceeds or will exceed the lesser of $120,000 or 1% of the average of our total
                                         assets as of the end of the last two completed fiscal years; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any of our
                                         directors, executive officers or holders of more than five percent of our capital stock,
                                         or an affiliate or immediate family member of such persons, had or will have a direct
                                         or indirect material interest.</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common Stock Issued in the Insider Investment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain of our existing
investors, including investors affiliated with certain of our directors, and Dr. Sastry, our chief executive officer, have purchased
an aggregate of 566,667 shares of our common stock in the Insider Investment, for an aggregate purchase price of approximately
$680,000. The following investors in the Insider Investment are related to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Inside Investors</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid; text-align: center">Relationship With Company</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Investment</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Anthony Barkett</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 51%">Director</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">60,000.00</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ed Frank</TD><TD>&nbsp;</TD>
    <TD>Director</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">50,000.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Mike Losh</TD><TD>&nbsp;</TD>
    <TD>Director</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">50,000.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Richard Ogawa (through Ogawa P.C.)</TD><TD>&nbsp;</TD>
    <TD>Director</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">30,000.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Richard Ogawa</TD><TD>&nbsp;</TD>
    <TD>Director</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">50,000.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ann Marie Sastry</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Executive Officer and Director</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">340,000.80</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top">Mark Tompkins</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Former Chief Executive Officer, Director and Current 5%&gt; Holder</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; vertical-align: top">$</TD><TD STYLE="font-weight: bold; text-align: right; vertical-align: top">100,000.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Related Party Advances</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since November 2017,
Dr. Sastry has advanced approximately $239,292 to Amesite OpCo to fund its start-up operations, which included research and development,
organizational costs, and various professional fees in connection with the private placement offerings and insider investment.
Amesite OpCo and Dr. Sastry did not have a formal arrangement or agreement pursuant to which these funds were paid. Dr. Sastry
paid certain Amesite OpCo related expenses and was reimbursed out of proceeds of the Private Placement. Dr. Sastry was repaid
without interest.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director and Executive Officer Compensation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See &ldquo;Executive
and Director Compensation&rdquo; for information regarding compensation of Amesite OpCo&rsquo;s directors and named executive
officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indemnification Agreements and Directors&rsquo; and Officers&rsquo;
Liability Insurance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Amesite OpCo has entered
into indemnification agreements with each of its directors and executive officers. These agreements, among other things, require
Amesite OpCo or will require it to indemnify each director and executive officer to the fullest extent permitted by Delaware law,
including indemnification of expenses such as attorneys&rsquo; fees, judgments, fines and settlement amounts incurred by the director
or executive officer in any action or proceeding, including any action or proceeding by or in right of Amesite OpCo, arising out
of the person&rsquo;s services as a director or executive officer. As a condition to the Merger, we also entered into a Pre-Merger
Indemnity Agreement with our former officers and directors, pursuant to which we agreed to indemnify such former officers and
directors for actions taken by them in their official capacities relating to the consideration, approval and consummation of the
Merger and certain related transactions. The form of the Pre-Merger Indemnity Agreement is filed as an exhibit to this prospectus.
All descriptions of the Pre-Merger Indemnity Agreement herein are qualified in their entirety by reference to the text thereof
filed as an exhibit hereto, which is incorporated herein by reference.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Policies and Procedures for Related Party Transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not currently
have written policies and procedures for related party transactions. Our board of directors plans to adopt a written related person
transaction policy, to set forth the policies and procedures for the review and approval or ratification of related person transactions.
This policy will cover, with certain exceptions set forth in Item 404 of Regulation S-K promulgated under the Exchange Act, any
transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which we were
or are to be a participant, where the amount involved exceeds or will exceed the lesser of $120,000 or 1% of the average of Amesite
OpCo&rsquo;s total assets as of the end of the last two completed fiscal years and a related person had, has or will have a direct
or indirect material interest, including purchases of goods or services by or from the related person or entities in which the
related person has a material interest, indebtedness, guarantees of indebtedness and employment by us of a related person. Our
audit committee will be responsible for reviewing and approving in advance the related party transactions covered by our related
transaction policies and procedures.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_011"></A>USE
OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are filing this
registration statement of which this prospectus forms a part to permit holders of the shares of our common stock described in
the section entitled &ldquo;Selling Stockholders&rdquo; to resell such shares. We will not receive any proceeds from the resale
of any shares offered by this prospectus by the selling stockholders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_012"></A>DIVIDEND
POLICY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently intend
to retain future earnings, if any, for use in the operation of our business and to fund future growth. We have never declared
or paid cash dividends on our common stock and we do not intend to pay any cash dividends on our common stock for the foreseeable
future. Any future determination related to our dividend policy will be made at the discretion of our board of directors in light
of conditions then existing, including factors such as our results of operations, financial condition and requirements, business
conditions and covenants under any applicable contractual arrangements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_013"></A>DETERMINATION
OF OFFERING PRICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholders
may only sell their shares of our common stock pursuant to this prospectus at a fixed price of $1.50 per share until such time
as our common stock is quoted on the OTCBB or another public trading market for our common stock otherwise develops. At and after
such time, the selling stockholders may sell all or a portion of their shares through public or private transactions at prevailing
market prices or at privately negotiated prices. The fixed price of $1.50 at which the selling stockholders may sell their shares
pursuant to this prospectus was determined based upon the purchase price per share of our common stock in the Private Placement
We have included a fixed price at which selling stockholders may sell their shares pursuant to this prospectus prior to the time
there is a public market for our stock in order to comply with the rules of the SEC that require that, if there is no market for
the shares being registered, this registration statement must include a price at which the shares may be sold. Except to the extent
that we are involved in an underwritten secondary offering of common stock, if any, by the selling stockholders, all shares of
common stock being offered pursuant to this prospectus will be sold by the selling stockholders without our involvement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><A NAME="a_014"></A><B>MARKET INFORMATION FOR OUR COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common stock is
not listed on a national securities exchange, an over-the-counter market or any other exchange. Therefore, there is no trading
market, active or otherwise, for our common stock and our common stock may never be included for trading on any stock exchange,
automated quotation system or any over-the-counter market. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 27, 2019,
we had 13,490,586 shares of common stock outstanding held by 81 stockholders of record.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 27, 2019,
we had outstanding options to purchase 1,091,833 shares of our common stock and outstanding warrants to purchase 1,771,192 shares
of our common stock.</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_015"></A>SECURITY OWNERSHIP
OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth certain information relating to the beneficial ownership of our common stock as of June 27, 2019, by:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">each person,
                                         or group of affiliated persons, known by us to beneficially own more than five percent
                                         of the outstanding shares of our common stock;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">each of
                                         our directors;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">each of
                                         our named executive officers; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">all directors
                                         and executive officers as a group.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The number of shares
beneficially owned by each entity, person, director or executive officer is determined in accordance with the rules of the SEC,
and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rules, beneficial
ownership includes any shares over which the individual has sole or shared voting power or dispositive power as well as any shares
that the individual has the right to acquire within 60 days of September 20, 2018 through the exercise of any stock option, warrants
or other rights. Except as otherwise indicated, and subject to applicable community property laws, the persons named in the table
have sole voting and dispositive power with respect to all shares of common stock held by that person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The percentage of shares
beneficially owned is computed on the basis of 13,490,586 shares of our common stock outstanding as of June 27, 2019.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Shares of common stock
that a person has the right to acquire within 60 days of June 27, 2019, are deemed outstanding for purposes of computing the percentage
ownership of the person holding such rights, but are not deemed outstanding for purposes of computing the percentage ownership
of any other person, except with respect to the percentage ownership of all directors and executive officers as a group. Unless
otherwise noted below, the address of the persons listed on the table is c/o Amesite Inc., 205 East Washington Street, Suite B,
Ann Arbor, Michigan 48104.</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares of Common Stock Beneficially Owned (#) (1)</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Percentage of Common Stock Beneficially Owned (%)&nbsp;(1)</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">Beneficial Owner Greater than 5% Stockholders</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Mark Tompkins</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Apt. 1,Via Guidino 23,</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">6900 Lugano</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-size: 10pt; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Paradiso, Switzerland</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">2,900,668</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">19.91</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -0.15in; padding-left: 0.15in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Directors and Named Executive Officers (2)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Ann Marie Sastry, Ph.D.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,116,667</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">43.24</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.15in; padding-left: 0.15in">J. Michael Losh</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">151,041</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.07</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Edward H. Frank, Ph.D.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">114,583</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.15in; padding-left: 0.15in"><FONT STYLE="font-size: 10pt">Richard Ogawa<SUP>(3)</SUP>&#9;</FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">467,708</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.31</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Anthony M. Barkett</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">122,917</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.15in; padding-left: 0.15in">All directors and executive officers as a group (6 persons)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,972,916</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">49.29</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Indicates beneficial
                                         ownership of less than one percent of the outstanding shares of common stock.</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Includes 2,921,145
                                         shares of common stock issued upon the consummation of the closing of the Private Placement,
                                         895,829 shares of our common stock in connection with the Insider Investment and 947,917
                                         shares of our common stock issuable upon the exercise of certain outstanding equity awards.</TD>
</TR>               <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(2)</TD><TD STYLE="text-align: justify">Options held by directors and named executive officers are deemed fully vested for purposes of this calculation.</TD></TR>

<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(3)</TD><TD STYLE="text-align: justify">Includes 25,000
                                         shares of common stock held of record by OGAWA Professional Corporation. Mr. Ogawa is
                                         the beneficial owner of OGAWA Professional Corporation and has voting and investment
                                         power over the securities held by OGAWA Professional Corporation.</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_016"></A>SELLING STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">This prospectus covers
the offer and sale by the selling stockholders identified below of 292,114 shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The 292,114 shares
of common stock being offered by the selling stockholders consists of an aggregate 292,114 shares of common stock issuable upon
the exercise of warrants issued to Laidlaw &amp; Company (UK) Ltd. as compensation for placement agent services provided to the
Company in connection with its April 28, 2018 and June 8, 2018 private placement. We are registering the shares of common stock
in order to permit the selling stockholders to offer the shares of common stock for resale from time to time. The registration
of such common stock does not necessarily mean, however, that any of the shares of common stock will be offered or sold by the
selling stockholders. We will not receive any proceeds from the sale of the common stock by the selling stockholders, and we have
borne and will continue to bear the costs relating to the registration of these shares of common stock, other than commissions
and discounts of agents or broker-dealers and transfer taxes, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as disclosed
in the footnotes below and except for the beneficial ownership of the common stock described in the table below, none of the selling
stockholders has held any position or office or had any other material relationship with us or any of our predecessors or affiliates
within the past three years. Except as disclosed in the footnotes below, no selling stockholder had a material relationship with
the company or any of its affiliates within the last three years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
and the accompanying footnotes are based in part on information supplied to us by the selling stockholders. The table and footnotes
assume that the selling stockholders will sell all of the shares listed. However, because the selling stockholders may sell none
of their shares or sell all or some of their shares under this prospectus from time to time, or in another permitted manner, we
cannot assure you as to the actual number of shares that will be sold by the selling stockholders or that will be held by the
selling stockholders after completion of any sales. We do not know how long the selling stockholders will hold the shares before
selling them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Beneficial ownership
has been determined under rules promulgated by the SEC. The information does not necessarily indicate beneficial ownership for
any other purpose. Under the rules of the SEC, a person is deemed to be a &ldquo;beneficial owner&rdquo; of a security if that
person has or shares &ldquo;voting power,&rdquo; which includes the power to vote or to direct the voting of such security, or
&ldquo;investment power,&rdquo; which includes the power to dispose of or to direct the disposition of such security. Shares of
common stock subject to options currently exercisable and convertible securities currently convertible, or exercisable or convertible
within 60 days after the date of this prospectus, are deemed outstanding for purposes of computing the percentage beneficially
owned by the person or entity holding such securities but are not deemed outstanding for purposes of computing the percentage
beneficially owned by any other person or entity. The inclusion of any shares in this table does not constitute an admission of
beneficial ownership by the persons named below. Please carefully read the footnotes located below the table in conjunction with
the information presented in the table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Name of Selling Stockholders</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Applicable Footnote</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of Shares Owned Before
    the Offering&nbsp;(#)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of Shares Being Offered&nbsp;(#)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares Owned After the Offering<BR>
    (#)(2)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares Owned After the Offering<BR>
    (%)(1)(2)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 42%; text-align: left; text-indent: -0.15in; padding-left: 0.15in">Buff Trust</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: center">3</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">46,738</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">46,738</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">*</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Garnet Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,738</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,738</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Laidlaw Holdings Ltd</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,769</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,769</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Jeffrey R. Glazer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Abimelek Rodriguez</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Richard G. Michalski</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,498</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,498</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Michael J. Murray</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,525</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,525</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Daniel W. Kuhar</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">10</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,425</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,425</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">John-Paul Eitner</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">11</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,039</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,039</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Henry Oliver McCormack</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,039</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,039</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">George McCormack</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">13</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">999</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">999</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Michael J. Ahern</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,344</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,344</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Peter Silverman</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">15</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Louis Marquez</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,510</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,510</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Timothy C. Beher</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Jayson Russo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">18</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Todd Cirella</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Mark F. Blaha</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">20</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Hugh J. Marasa Jr.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,499</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,499</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">James Ahern</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">22</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Matthew D. Eitner</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">23</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Patrick Gallagher</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">24</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Luke Kottke</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">25</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Hugh Regan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">26</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Francis R. Smith</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">27</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Ryan Turcotte</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">28</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Less than 1%</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Applicable percentage ownership is based on 13,490,586 shares of our common stock outstanding as of June 27, 2019.</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Assumes the sale of all shares of common
                                         stock offered in this prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 46,738 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 46,738 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 46,738 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 46,738 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 14,769 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 14,769 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 8,598 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 8,598 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(7)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 100 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 100 of these shares issuable upon the exercise of warrants to the selling stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(8)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 3,498 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 3,498 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(9)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 2,525 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 2,525 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(10)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 1,425 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 1,425 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(11)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 13,039 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 13,039 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(12)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 13,039 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 13,039 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(13)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 999 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 999 of these shares issuable upon the exercise of warrants to the selling stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(14)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 11,344 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 11,344 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(15)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 11,097 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 11,097 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(16)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 6,510 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 6,510 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(17)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 2,149 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 2,149 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(18)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 5,232 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 5,232 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(19)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 5,232 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 5,232 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(20)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 333 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 333 of these shares issuable upon the exercise of warrants to the selling stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(21)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 2,499 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 2,499 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(22)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 20,000 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 20,000 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(23)</TD><TD STYLE="text-align: justify">In connection with
                                         the Private Placement, Laidlaw &amp; Company (UK) Ltd was entitled to receive 20,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw &amp; Company
                                         (UK) Ltd has assigned its right to 20,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(24)</TD><TD STYLE="text-align: justify">In connection with the Private Placement,
                                         Laidlaw &amp; Company (UK) Ltd was entitled to receive 10,000 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw &amp; Company (UK) Ltd has assigned its
                                         right to 10,000 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(25)</TD><TD STYLE="text-align: justify">In connection with
                                         the Private Placement, Laidlaw &amp; Company (UK) Ltd was entitled to receive 10,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw &amp; Company
                                         (UK) Ltd has assigned its right to 10,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(26)</TD><TD STYLE="text-align: justify">In connection with
                                         the Private Placement, Laidlaw &amp; Company (UK) Ltd was entitled to receive 20,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw &amp; Company
                                         (UK) Ltd has assigned its right to 20,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(27)</TD><TD STYLE="text-align: justify">In connection with
                                         the Private Placement, Laidlaw &amp; Company (UK) Ltd was entitled to receive 12,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw &amp; Company
                                         (UK) Ltd has assigned its right to 12,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(28)</TD><TD STYLE="text-align: justify">In connection with
                                         the Private Placement, Laidlaw &amp; Company (UK) Ltd was entitled to receive 4,250 shares
                                         of our common stock issuable upon the exercise of warrants. Laidlaw &amp; Company (UK)
                                         Ltd has assigned its right to 4,250 of these shares issuable upon the exercise of warrants
                                         to the selling stockholder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_017"></A>PLAN OF DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholders,
which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares of common stock or
interests in shares of common stock received after the date of this prospectus from a selling stockholder as a gift, pledge, partnership
distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of common
stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded
or in private transactions. Until such time as our common stock is quoted on the OTCBB or another public trading market otherwise
develops, the selling stockholders identified herein may only sell their shares of our common stock pursuant to this prospectus
at a fixed price of $1.50 per share. At and after such time, the selling stockholders may sell all or a portion of their shares
through public or private transactions at prevailing market prices at the time of sale, at prices related to the prevailing market
price, at varying prices determined at the time of sale, or at privately negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholders
may use any one or more of the following methods when disposing of shares or interests therein:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">ordinary
                                         brokerage transactions and transactions in which the broker-dealer solicits purchasers;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">block trades
                                         in which the broker-dealer will attempt to sell the shares as agent, but may position
                                         and resell a portion of the block as principal to facilitate the transaction;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">purchases
                                         by a broker-dealer as principal and resale by the broker-dealer for its account;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">an exchange
                                         distribution in accordance with the rules of the applicable exchange;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">privately
                                         negotiated transactions;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Settlement
                                         of short sales entered into after the effective date of the registration statement of
                                         which this prospectus forms a part;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">through
                                         the writing or settlement of options or other hedging transactions, whether through an
                                         options exchange or otherwise;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">After our
                                         common stock is quoted on the OTCBB or another public trading market otherwise develops,
                                         broker-dealers may agree with the selling stockholders to sell a specified number of
                                         such shares at a stipulated price per share;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">a combination
                                         of any such methods of sale; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any other
                                         method permitted pursuant to applicable law.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholders
may, from time to time, pledge or grant a security interest in some or all of the shares of common stock owned by them and, if
they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of
common stock, from time to time, under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other
applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other
successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer the shares of
common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling
beneficial owners for purposes of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the sale of our common stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions
they assume. The selling stockholders may also sell shares of our common stock short and deliver these securities to close out
their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling
stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation
of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus
(as supplemented or amended to reflect such transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate proceeds
to the selling stockholders from the sale of the common stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together with their agents
from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents.
We will not receive any of the proceeds from this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholders
and any underwriters, broker-dealers or agents that are involved in selling the common stock or interests therein may be deemed
to be &ldquo;underwriters&rdquo; within the meaning of Section 2(a)(11) of the Securities Act. In such event, any commissions
received by such broker-dealers or agents and any profit on the resale of the common stock purchased by them may be deemed to
be underwriting commissions or discounts under the Securities Act. Each selling stockholder has informed us that it does not have
any written or oral agreement or understanding, directly or indirectly, with any underwriter or other person to distribute the
common stock. If a selling stockholder is deemed to be an &ldquo;underwriter&rdquo; within the meaning of the Securities Act,
it will be subject to the prospectus delivery requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent required,
the shares of our common stock to be sold, the names of the selling stockholders, the respective purchase prices and public offering
prices, the names of any agents, dealer or underwriter, and any applicable commissions or discounts with respect to a particular
offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to this registration
statement that includes this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to comply
with the securities laws of some states, if applicable, the common stock may be sold in such jurisdictions only through registered
or licensed brokers or dealers. In addition, in some states the common stock may not be sold unless it has been registered or
qualified for sale or an exemption from registration or qualification requirements is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have advised the
selling stockholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the
market and to the activities of the selling stockholders and their affiliates. In addition, we will make copies of this prospectus
(as it may be supplemented or amended from time to time) available to the selling stockholders for the purpose of satisfying the
prospectus delivery requirements of the Securities Act. The selling stockholders may indemnify any broker-dealer that participates
in transactions involving the sale of the common stock against certain liabilities, including liabilities arising under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed to
indemnify the selling stockholders against liabilities, including liabilities under the Securities Act and state securities laws,
relating to the registration of the shares of common stock offered by this prospectus. We have agreed with the selling stockholders
to keep this registration statement of which this prospectus constitutes a part effective for five years from the date it is declared
effective by the SEC or until the date on which all of the shares required to be registered by us have been transferred other
than to certain enumerated permitted assignees under the Registration Rights Agreement. See the section of this prospectus captioned
&ldquo;Shares Eligible for Future Sale&mdash;Registration Rights.&rdquo;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_018"></A>DESCRIPTION OF
CAPITAL STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have authorized capital stock consisting of 100,000,000 shares of common stock and 5,000,000 shares
of preferred stock. As of June 27, 2019, we had 13,490,585 shares of common stock issued and outstanding, and no shares of preferred
stock issued and outstanding. Unless stated otherwise, the following discussion summarizes the term and provisions of our amended
and restated certificate of incorporation and our amended and restated bylaws. This description is summarized from, and qualified
in its entirety by reference to, our amended and restated certificate of incorporation, which has been publicly filed with the
SEC.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The holders of shares
of our common stock are entitled to one vote per share on all matters to be voted upon by our stockholders, provided, however,
that, except as otherwise required by law, holders of our common stock shall not be entitled to vote on any amendment to our certificate
of incorporation that relates solely to the terms of one or more outstanding series of our preferred stock if the holders of such
affected series of preferred stock are entitled, either separately or together as a class with the holders of one or more other
series of preferred stock, to vote thereon by law or pursuant to our certificate of incorporation. There are no cumulative rights
with respect to our common stock. Subject to preferences that may be applicable to any outstanding preferred stock, the holders
of shares of our common stock are entitled to receive ratably any dividends that may be declared from time to time by our board
of directors out of funds legally available for that purpose. In the event of our liquidation, dissolution or winding up, the
holders of shares of our common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject
to prior distribution rights of preferred stock then outstanding. Our common stock has no preemptive or conversion rights or other
subscription rights. There are no redemption or sinking fund provisions applicable to our common stock. The outstanding shares
of our common stock are fully paid and non-assessable, and any shares of our common stock to be issued upon an offering pursuant
to this prospectus will be fully paid and nonassessable upon issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have never paid
cash dividends on our common stock. Moreover, we do not anticipate paying periodic cash dividends on our common stock for the
foreseeable future. Any future determination about the payment of dividends will be made at the discretion of our board of directors
and will depend upon our earnings, if any, capital requirements, operating and financial conditions and on such other factors
as our board of directors deems relevant. For a discussion of provisions in our charter that would have an effect of delaying
or preventing a change of control, see &ldquo;<I>Anti-Takeover Effects of Provisions of Our Charter Documents.</I>&rdquo;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following description
of our preferred stock and the description of the terms of any particular series of our preferred stock that we choose to issue
are not complete. These descriptions are qualified in their entirety by reference to our amended and restated certificate of incorporation
and the certificate of designation, if and when adopted by our board of directors, relating to that series. The rights, preferences,
privileges and restrictions of the preferred stock of each series will be fixed by the certificate of designation relating to
that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently have
no shares of preferred stock outstanding. Our board of directors has the authority, without further action by the stockholders,
to issue up to 5,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions
granted to or imposed upon the preferred stock. Any or all of these rights may be greater than the rights of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors,
without stockholder approval, can issue preferred stock with voting, conversion or other rights that could negatively affect the
voting power and other rights of the holders of our common stock. Preferred stock could thus be issued quickly with terms calculated
to delay or prevent a change in control of us or make it more difficult to remove our management. Additionally, the issuance of
preferred stock may have the effect of decreasing the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors
may specify the following characteristics of any preferred stock, which may affect the rights of holders of our common stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the annual
                                         dividend rate, if any, whether the dividend rate is fixed or variable, the date or dates
                                         on which dividends will accrue, the dividend payment dates, and whether dividends will
                                         be cumulative;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the liquidation
                                         preference, if any, and any accumulated dividends upon the liquidation, dissolution or
                                         winding up of our affairs;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the voting
                                         rights; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any or all
                                         other preferences and relative, participating, optional or other special rights, privileges
                                         or qualifications, limitations or restrictions.</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Warrants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 27,
2019, the Placement Agent Warrants entitle their holders to purchase an aggregate of 292,114 shares of common stock, with a term
of five years and an exercise price of $1.50 per share.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Placement Agent
Warrants contain customary provisions for adjustment in the event of stock splits, subdivision or combination or mergers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The summary descriptions
of the warrants described above are qualified in their entirety by reference to the form of such warrants filed as an exhibit
to this prospectus.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Options</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Options to purchase shares of Amesite OpCo common stock that were originally granted under the 2017 Plan
to certain of Amesite OpCo&rsquo;s employees, officers and directors were converted into options to purchase 947,917 shares of
our common stock with a weighted average exercise price of $1.50 per share when they were assumed by us in connection with the
Merger. As of June 27, 2019, there were options to purchase 1,091,833 shares of our common stock with a weighted average exercise
price of $1.50 per share.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Other Convertible Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 27,
2019, other than the securities described above, we do not have any outstanding convertible securities.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lock-up Agreements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Merger and the Insider Investment, holders of approximately 6.7 million shares of our common stock have agreed, subject to
certain exceptions, not to dispose of or hedge any shares of common stock or securities convertible into or exchangeable for shares
of common stock during the period from the date of the lock-up agreement continuing through the date twenty-four months after
the date of the Merger and the initial closing of the Private Placement, except with our prior written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the lock-up
periods set forth in the agreements described above, and assuming that no parties are released from these agreements and that
there is no extension of the lock-up period, certain of the shares of common stock that are restricted securities or are held
by our affiliates as of the date of the Merger will be eligible for sale in the public market in compliance with Rule 144 under
the Securities Act. See <I>&ldquo;</I>Shares Eligible for Future Sale&mdash;Lock-Up Agreements&rdquo; below for more information.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Registration Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Merger and the Private Placement, we entered into a Registration Rights Agreement with our investors. See <I>&ldquo;</I>Shares
Eligible for Future Sale&mdash;Registration Rights&rdquo; below for more information.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Anti-Takeover Effects of Provisions of Our Charter Documents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
certificate of incorporation provides for our board of directors to be divided into three classes serving staggered terms. Approximately
one-third of the board of directors will be elected each year. The provision for a classified board could prevent a party who
acquires control of a majority of our outstanding voting stock from obtaining control of our board of directors until the second
annual stockholders meeting following the date the acquirer obtains the controlling stock interest. The classified board provision
could discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control of us and could increase
the likelihood that incumbent directors will retain their positions. Our amended and restated certificate of incorporation provides
that directors may be removed with cause by the affirmative vote of the holders of a majority of the voting power of all of our
outstanding stock or without cause by the affirmative vote of the holders of at least 66 and 2/3% of the voting power of all of
our outstanding stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
certificate of incorporation provides that certain amendments of our certificate of incorporation and amendments by our stockholders
of our amended and restated bylaws require the approval of at least 66 and 2/3% of the voting power of all of our outstanding
stock. These provisions could discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control
of our company and could delay changes in management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
certificate of incorporation also provides that, unless we consent in writing to an alternative forum, the Court of Chancery of
the State of Delaware will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any
action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our
stockholders, any action asserting a claim arising pursuant to any provision of the General Corporation Law, our amended and restated
certificate of incorporation or our amended and restated bylaws or any action asserting a claim that is governed by the internal
affairs doctrine, in each case subject to the Court of Chancery having personal jurisdiction over the indispensable parties named
as defendants therein and the claim not being one which is vested in the exclusive jurisdiction of a court or forum other than
the Court of Chancery or for which the Court of Chancery does not have subject matter jurisdiction. This forum selection provision
may limit our stockholders&rsquo; ability to bring a claim in a judicial forum that they find favorable for disputes with us or
our directors, officers, employees or agents, which may discourage such lawsuits against us and our directors, officers, employees
and agents even though an action, if successful, might benefit our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders,
including proposed nominations of persons for election to our board of directors. At an annual meeting, stockholders may only
consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of our
board of directors. Stockholders may also consider a proposal or nomination by a person who was a stockholder at the time of giving
notice and at the time of the meeting, who is entitled to vote at the meeting and who has complied with the notice requirements
of our amended and restated bylaws in all respects. The amended and restated bylaws do not give our board of directors the power
to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at a special
or annual meeting of our stockholders. However, our amended and restated bylaws may have the effect of precluding the conduct
of certain business at a meeting if the proper procedures are not followed. These provisions may also discourage or deter a potential
acquirer from conducting a solicitation of proxies to elect the acquirer&rsquo;s own slate of directors or otherwise attempting
to obtain control of our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
bylaws provide that a special meeting of our stockholders may be called only by our Secretary and at the direction of our board
of directors by resolution adopted by a majority of our board of directors. Because our stockholders do not have the right to
call a special meeting, a stockholder could not force stockholder consideration of a proposal over the opposition of our board
of directors by calling a special meeting of stockholders prior to such time as a majority of our board of directors, the chairperson
of our board of directors, the president or the chief executive officer believed the matter should be considered or until the
next annual meeting <I>provided</I> that the requestor met the notice requirements. The restriction on the ability of stockholders
to call a special meeting means that a proposal to replace our board of directors also could be delayed until the next annual
meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
bylaws do not allow our stockholders to act by written consent without a meeting. Without the availability of stockholder action
by written consent, a holder controlling a majority of our capital stock would not be able to amend our amended and restated bylaws
or remove directors without holding a stockholders&rsquo; meeting.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Anti-Takeover Effects of Delaware Law</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to
the provisions of Section 203 of the General Corporation Law, or Section 203. Under Section 203, we would generally be prohibited
from engaging in any business combination with any interested stockholder for a period of three years following the time that
this stockholder became an interested stockholder unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">prior to
                                         this time, our board of directors approved either the business combination or the transaction
                                         that resulted in the stockholder becoming an interested stockholder;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">upon consummation
                                         of the transaction that resulted in the stockholder becoming an interested stockholder,
                                         the interested stockholder owned at least 85% of our voting stock outstanding at the
                                         time the transaction commenced, excluding shares owned by persons who are directors and
                                         also officers, and by employee stock plans in which employee participants do not have
                                         the right to determine confidentially whether shares held subject to the plan will be
                                         tendered in a tender or exchange offer; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">at or subsequent
                                         to such time, the business combination is approved by our board of directors and authorized
                                         at an annual or special meeting of stockholders, and not by written consent, by the affirmative
                                         vote of at least 66 and 2/3% of the outstanding voting stock that is not owned by the
                                         interested stockholder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Section 203,
a &ldquo;business combination&rdquo; includes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any merger
                                         or consolidation involving the corporation and the interested stockholder;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any sale,
                                         transfer, pledge or other disposition of 10% or more of the assets of the corporation
                                         involving the interested stockholder;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any transaction
                                         that results in the issuance or transfer by the corporation of any stock of the corporation
                                         to the interested stockholder, subject to limited exceptions;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">any transaction
                                         involving the corporation that has the effect of increasing the proportionate share of
                                         the stock of any class or series of the corporation beneficially owned by the interested
                                         stockholder; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the receipt
                                         by the interested stockholder of the benefit of any loans, advances, guarantees, pledges
                                         or other financial benefits provided by or through the corporation.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In general, Section
203 defines an interested stockholder as an entity or person beneficially owning 15% or more of the outstanding voting stock of
the corporation and any entity or person affiliated with or controlling or controlled by such entity or person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The provisions of
Delaware law and our amended and restated certificate of incorporation and amended and restated bylaws could have the effect of
discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the
market price of our common stock that often result from actual or rumored hostile takeover attempts. These provisions may also
have the effect of preventing changes in management. It is possible that these provisions may make it more difficult to accomplish
transactions that stockholders may otherwise deem to be in their best interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following such time,
if any, as our capital stock is listed on a national securities exchange or is held of record by more than 2,000 stockholders,
we will be subject to the provisions of Section 203 of the Delaware General Corporation Law, as amended.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Limitations of Liability and Indemnification Matters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a discussion of
liability and indemnification, please see the section titled &ldquo;Directors and Executive Officers&mdash;Limitation of Liability
and Indemnification.&rdquo;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transfer Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our transfer agent
is Continental Stock Transfer &amp; Trust Company, or CST. CST&rsquo;s address is 1 State Street 30th Floor, New York, NY 10004-1561
and its telephone number is 212.845.3215.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_020"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The validity of the
shares of our common stock being offered by this prospectus will be passed upon for us by Dorsey &amp; Whitney LLP.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_021"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements included in this prospectus have been audited by Deloitte &amp; Touche LLP, an
independent registered public accounting firm, as stated in their report appearing herein, which report expresses an unqualified
opinion on the financial statements and includes an explanatory paragraph referring to the ability of the company to remain a going
concern. Such financial statements are included in reliance upon the report of such firm given upon their authority as experts
in accounting and auditing.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_022"></A>WHERE YOU CAN
FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have filed with
the SEC this registration statement on Form S-1 under the Securities Act with respect to the shares of common stock being offered
by this prospectus. This prospectus, which constitutes a part of this registration statement, does not contain all of the information
in this registration statement and its exhibits. For further information with respect to us and the common stock offered by this
prospectus, you should refer to this registration statement and the exhibits filed as part of that document. Statements contained
in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each
instance, we refer you to the copy of the contract or other document filed as an exhibit to this registration statement. Each
of these statements is qualified in all respects by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to
the informational requirements of the Exchange Act and file annual, quarterly and current reports, proxy statements and other
information with the SEC. You can read our SEC filings, including this registration statement, over the Internet at the SEC&rsquo;s
website at http://www.sec.gov. You may also read and copy any document we file with the SEC at its public reference facilities
at 100 F Street, N.E., Washington, D.C. 20549. You may also obtain copies of these documents at prescribed rates by writing to
the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for
further information on the operation of the public reference facilities. You may also request a copy of these filings, at no cost,
by writing or telephoning us at: 205 East Washington Street, Suite B, Ann Arbor, MI 48104, (650) 516-7633.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in; background-color: white"><FONT STYLE="background-color: white"><B><A NAME="a_099"></A>INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For the Six Months ended June 30, 2018 and Period from November 14, 2017 (date of incorporation) through December 31, 2017</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 10%">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report of Independent Registered Public Accounting Firm</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Balance Sheets</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of</FONT> <FONT STYLE="font-size: 10pt">Operations</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of Stockholders&rsquo; Equity</FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of Cash Flows</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD></TR>

<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For the Three Months </B></FONT><B>and Nine Months <FONT STYLE="font-size: 10pt">ended March 31, 2019</FONT></B></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="width: 90%; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 10%; vertical-align: bottom"></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Consolidated Balance Sheets</FONT> <FONT STYLE="font-size: 10pt">(Unaudited)</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Consolidated Statements of Operations (Unaudited)</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-16</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Consolidated Statements of</FONT> Stockholders&rsquo; Equity (Unaudited)</A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-17</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Consolidated Statements of Cash Flows (Unaudited)</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-18</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#fin_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Condensed Consolidated Financial Statements</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-19</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD></TR>

</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><A NAME="fin_001"></A><B>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To the Board of Directors of Amesite Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">205 East Washington Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Unit B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ann Arbor, MI 48104</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Opinion on the Financial Statements </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">We have audited the accompanying consolidated
balance sheets of Amesite Inc. (the &quot;Company&quot;) as of June 30, 2018, and December 31, 2017, and the related consolidated
statements of operations, stockholders' equity, and cash flows, for the periods from January 1, 2018 through June 30, 2018, and
November 14, 2017 (date of incorporation) through December 31, 2017, and the related notes (collectively referred to as the &quot;financial
statements&quot;). In our opinion, the financial statements present fairly, in all material respects, the financial position of
the Company as of June 30, 2018, and December 31, 2017, and the results of its operations and its cash flows for the period from
January 1, 2018 through June 30, 2018, and November 14, 2017 (date of incorporation) through December 31, 2017, in conformity
with accounting principles generally accepted in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Going Concern</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements,
the company has incurred losses since inception, is still in the early stages of developing its service platform, and has not
completed its efforts to establish a stabilized source of revenues sufficient to cover costs over an extended period of time,
which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters
are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Basis for Opinion </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits.
We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the
effectiveness of the Company&rsquo;s internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide
a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Deloitte and Touche LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Detroit, MI</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 17, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We have served as the Company's auditor since 2017.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left"><A NAME="fin_002"></A><B>Amesite,
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Balance Sheets</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid">June 30, 2018 and<BR>
    December 31, 2017</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-weight: bold; text-align: center">Assets</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Current Assets</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-indent: -0.1in; padding-left: 0.3in">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,274,116</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Other receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,609</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><B>Property and Equipment</B>
    - Net (Note 4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,706</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,655</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Capitalized Software Costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"><B>Security
    Deposit</B> (Note 9)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">5,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">5,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 1.3in">Total assets</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,532,431</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,655</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="9" STYLE="font-weight: bold; text-align: center">Liabilities and Stockholders&rsquo; Equity</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Advances from stockholder (Note 8)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,065</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,728</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Accrued and other current liabilities: (Note 8)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">Accrued compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,674</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">Accrued subcontractor fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,915</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">Accrued professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172,340</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.5in">Other accrued liabilities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">9,994</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">3,992</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0; padding-left: 40pt">Total liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">253,252</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,720</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Stockholders&rsquo; Equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Common stock, $.0001 par value; 50,000,000 shares authorized;
    12,750,307 and 5,833,333 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively (Note&nbsp;5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,275</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">583</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Preferred stock, $.0001 par value; 5,000,000 shares
    authorized; no shares issued and outstanding at June 30, 2018 or December 31, 2017 (Note 5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,799,471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(183</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.3in">Accumulated deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(521,567</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(31,465</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: 0; padding-left: 40pt">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,279,179</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(31,065</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: 0; padding-left: 40pt">Total liabilities and stockholders&rsquo;
    equity</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,532,431</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,655</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left"><A NAME="fin_003"></A><B>Amesite,
Inc.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Statements of Operations</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six
Months Ended June 30, 2018 and Period from November 14, 2017 (date of incorporation) through December 31, 2017</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding: 0; text-indent: 0">Operating Expenses</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: 0; padding: 0 0 0 10pt">General and administrative expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">35,096</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">6,564</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0 0 0 10pt">Subcontract development services</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,362</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,990</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0 0 0 10pt">Travel expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,155</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,938</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0 0 0 10pt">Office rent</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,609</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,973</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0 0 0 10pt">Professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">316,516</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0">Payroll and related expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">69,364</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: 0">Total operating expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">490,102</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">31,465</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0; text-indent: 0">Net Loss</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(490,102</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(31,465</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 0; padding: 0">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; width: 76%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Earnings
    per Share</B></FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; font-family: Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
    earnings per share</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(.06</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(.01</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; font-family: Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
    average shares outstanding</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,094,756</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,833,333</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="fin_004"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amesite,
Inc.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Statement of Stockholders&rsquo; Equity (Deficit)</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Common Stock</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Additional Paid-In Capital</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Accumulated Deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-indent: -0.1in; padding-left: 0.1in"><B>Balance</B> - November 14, 2017</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,465</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,465</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in">Common stock issued</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">583</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(183</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">400</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in"><B>Balance</B> - December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">583</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(183</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,465</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,065</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(490,102</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(490,102</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Recapitalization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,452</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,142</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Common stock issued in connection with offerings -
    Net of issuance costs of $764,036</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">382</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,652,304</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,652,686</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in">Stock option compensation expense</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">180,802</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">180,802</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"><B>Balance</B> - June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,275</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,799,471</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(521,567</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,279,179</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="fin_005"></A><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amesite,
Inc.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Statements of Cash Flows</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six
Months Ended June 30, 2018 and Period from November 14, 2017 (date of incorporation) through December 31, 2017</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Cash Flows from Operating Activities</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: -0.1in; padding-left: 0.3in">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(490,102</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(31,465</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Adjustments to reconcile net loss to net cash from
    operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.5in">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,367</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">245</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">Stock option expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">180,802</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">Changes in operating assets and liabilities which (used)
    provided cash:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.7in">Prepaid expenses and other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(58,609</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.7in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.7in">Accrued and other liabilities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">226,931</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">19,992</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 60pt">Net cash used in operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(134,347</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,228</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash Flows from Investing Activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Purchase of property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(84,418</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,900</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.3in">Investment in capitalized software</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(99,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 60pt">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(183,418</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,900</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash Flows from Financing Activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Repayment of note to Lola One stockholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,142</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Net (repayments to) advances from stockholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(27,663</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,728</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.3in">Issuance of common stock - net
    of offering costs</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,652,686</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">400</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 60pt">Net cash provided by financing
    activities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,591,881</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">29,128</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net Increase in Cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,274,116</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"><B>Cash
    </B>- Beginning of year</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"><B>Cash</B>
    - End of year</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,274,116</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Significant Noncash Transactions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in">Assumption of Lola One liabilities concurrent with
    merger - as part of the merger, Lola One note payable of $33,452 was assumed and recorded in additional paid-in-capital, net
    of common stock issued</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">33,142</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><A NAME="fin_006"></A><B>Amesite, Inc.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Notes to Consolidated Financial Statements</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
1 - Nature of Business</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amesite,
Inc. (the &ldquo;Company&rdquo;) was formed in 2017 and is a development stage artificial intelligence software company targeting
the college course market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On April 27, 2018, pursuant
to an Agreement and Plan of Merger and Reorganization (the &ldquo;Merger&rdquo;), Lola One Acquisition Sub, Inc. merged with and
into Amesite Operating Company, with Amesite Operating Company remaining as the surviving entity and a wholly-owned operating
subsidiary of Lola One Acquisition Company (&ldquo;Lola One&rdquo;). Following the Merger, Lola One changed its name to &ldquo;Amesite,
Inc.&rdquo; and changed its fiscal year end to June 30.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
June 30, 2018, the Company had yet to generate revenue from its services and products. The Company&rsquo;s activities are subject
to significant risks and uncertainties, including failure to secure additional funding to execute the current business plan.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
2 - Significant Accounting Policies</B></FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Basis
of Presentation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Merger was accounted for as a reverse recapitalization, with Amesite Operating Company considered the acquirer for accounting
purposes. The consolidated financial statements of the Company reflect the historical operations of Amesite Operating Company
before the Merger.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s fiscal year ends June 30. As a result of the change in fiscal year end disclosed in Note 1, the financial statements
presented cover the six months ended June 30, 2018 and the period from November 14, 2017, (inception of Amesite Operating Company)
to December 31, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted
in the United States of America (&ldquo;GAAP&rdquo;) and considering the requirements of the Securities and Exchange Commission
(&ldquo;SEC&rdquo;).</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Principles
of Consolidation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements of the Company include the accounts of Amesite, Inc. and its wholly owned subsidiary, Amesite
Operating Company. All material intercompany accounts and transactions have been eliminated in consolidation.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use
of Estimates</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of consolidated 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 and disclosure of contingent assets
and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the
reporting period. Actual results could differ from those estimates.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Fair
Value Measurements</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting
standards require certain assets and liabilities be reported at fair value in the financial statements and provide a framework
for establishing that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the inputs
and valuation techniques used to measure fair value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities that the Company has
the ability to access.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs
include quoted prices for similar assets and liabilities in active markets and other inputs such as interest rates and yield curves
that are observable at commonly quoted intervals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">Notes to Consolidated
Financial Statements</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt">Note 2 - Significant
Accounting Policies (Continued)</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity
for the related asset. These Level 3 fair value measurements are based primarily on management&rsquo;s own estimates using pricing
models, discounted cash flow methodologies, or similar techniques.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
instances whereby inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements
in their entirety are categorized based on the lowest level input that is significant to the valuation. The Company&rsquo;s assessment
of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to
each asset or liability.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Cash</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
consists of cash on deposit with a bank. The total amount of bank deposits (checking and savings accounts) that was insured by
the FDIC at year end was $250,000.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Property
and Equipment</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment are recorded at cost. The straight-line method is used for computing depreciation. Assets are depreciated over their
estimated useful lives (primarily three to seven years). Costs of maintenance and repairs are charged to expense when incurred.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="padding-left: 3.6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciable</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Life - Years</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="padding-left: 3.6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 0.5in; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-left: 7.2pt; text-indent: -7.2pt; text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold
    improvements&#9;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shorter
    of estimated lease term or 10 years</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="padding-left: 7.2pt; text-indent: -7.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture
    and fixtures&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="padding-left: 7.2pt; text-indent: -7.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer
    equipment and software&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Capitalized
Software Costs</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company capitalizes significant
costs incurred in the development of software for internal use, including the costs of the software, materials, consultants, and
payroll and payroll-related costs for employees incurred in developing internal use computer software once final selection of
the software is made. Costs incurred prior to the final selection of software and costs not qualifying for capitalization are
charged to expense. There was no amortization expense of capitalized software costs during the periods ended June 30, 2018 or
December 31, 2017 as the software was not yet completed.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Income
Taxes</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
current tax liability or asset is recognized for the estimated taxes payable or refundable on tax returns for the year. Deferred
tax liabilities or assets are recognized for the estimated future tax effects of temporary differences between financial reporting
and tax accounting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets
will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income
in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in the consolidated statement of operations in the period that includes the
enactment date.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Risks
and Uncertainties</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company intends to operate in an industry subject to rapid change. The Company&rsquo;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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">Notes to Consolidated
Financial Statements</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
2 - Significant Accounting Policies (Continued)</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The accompanying consolidated
financial statements have been prepared assuming that the Company will continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has incurred losses
since inception, is still in the early stages of developing its service platform, and has not completed its efforts to establish
a stabilized source of revenues sufficient to cover costs over an extended period of time. These factors raise substantial doubt
about the our ability to continue as a going concern. The Company&rsquo;s ability to continue as a going concern is dependent
on its ability to raise additional capital and implement its business plan. Despite management&rsquo;s ongoing efforts, there
are no assurances that the Company will be successful in this or any of its endeavors or become financially viable. These financial
statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should the Company be unable to continue as a going concern.</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Research
and Development</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research
and development expenditures are charged to expense as incurred. Research and development expense of approximately $39,000 and
$17,000 were charged to expense during the periods ended June 30, 2018 and December 31, 2017, respectively.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Net
Loss per Share</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common
shares outstanding during the period. Diluted loss per share includes potentially dilutive securities such as outstanding options
and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive
shares outstanding during each reporting period. For the period ended June 30, 2018, the Company had 1,288,195 and 292,114 potentially
dilutive shares of common stock related to common stock options and common stock warrants, respectively, as determined using the
if-converted method and no potentially dilutive securities for the period ended December 31, 2017. For the periods ending June
30, 2018 and December 31, 2017, the dilutive effect of common stock options and common stock warrants has not been included in
the average shares outstanding for the calculation of net loss per share as the effect would be anti-dilutive as a result of our
net losses in these periods.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stock-Based
Payments</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC
Topic 718 &ldquo;Compensation-Stock Compensation&rdquo; requires companies to measure the cost of employee services received in
exchange for the award of equity instruments based on the estimated fair value of the award at the date of grant. The expense
is to be recognized over the period during which an employee is required to provide services in exchange for the award. The Company
accounts for shares of common stock, stock options and warrants issued to employees based on the fair value of the stock, stock
option or warrant, if that value is more reliably measurable than the fair value of the consideration or services received.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company accounts for stock
options and restricted stock issued to non-employees in accordance with the Financial Account Standards Board (&ldquo;FASB&rdquo;)
Accounting Standards Codification (&ldquo;ASC&rdquo;) Subtopic 505-50 &ldquo;Equity-Based Payments to Non-Employees&rdquo;. Accordingly,
the fair value of the stock compensation issued to non-employees is based upon the measurement date as determined at the earlier
of either a) the date at which a performance commitment is reached, or b) the date which the necessary performance to earn the
equity instruments is complete. As a measurement date has not yet been reached for the stock options outstanding held by non-employees,
the Company remeasures these outstanding options to fair value at each reporting period. The measurement date for all restricted
stock to compensate non-employees for consulting services may not be reached until the contractual end of the contract in September
2019. Accordingly, the Company has estimated the fair value of those services performed through June 30, 2018, and recorded an
expense in the consolidated statements of operations.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Upcoming
Accounting Pronouncements</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
May 2014, the FSB issued ASU No. 2014-09, <I>Revenue from Contracts with Customers (Topic 606)</I>, which will supersede the current
revenue recognition requirements in Topic 605, <I>Revenue Recognition</I>. The ASU is based on the principle that revenue is recognized
to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects
to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount,
timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes
in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance will be effective for
the Company&rsquo;s year ending June 30, 2020. The ASU permits application of the new revenue recognition guidance to be applied
using one of two retrospective application methods. The Company is still determining which method it will apply and whether it
will adopt the standard prior to the effective date. The standard is not expected to have a significant impact on the consolidated
financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">Notes to Consolidated
Financial Statements</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Note 2 - Significant Accounting Policies
(Continued)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
FASB issued ASU 2016-02, <I>Leases</I>, which will supersede the current lease requirements in ASC 840. The ASU requires lessees
to recognize a right-to-use asset and related lease liability for all leases, with a limited exception for short-term leases.
Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition
in the statement of operations. Currently, leases are classified as either capital or operating, with only capital leases recognized
on the balance sheet.&nbsp;The reporting of lease-related expenses in the statements of operations and cash flows will be generally
consistent with the current guidance. The new lease guidance will be effective for the Company&rsquo;s year ending June 30, 2021
and will be applied using a modified retrospective transition method to the beginning of the earliest period presented. The new
lease standard is expected to have a significant effect on the Company&rsquo;s financial statements as a result of the Company&rsquo;s
operating leases, as disclosed in Note 9, that will be reported on the balance sheet at adoption. Upon adoption, the Company will
recognize a lease liability and corresponding right-to-use asset based on the present value of the minimum lease payments. The
effects on the results of operations are not expected to be significant as recognition and measurement of expenses and cash flows
for leases will be substantially the same under the new standard.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
3 - Reverse Recapitalization</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the Merger, Lola One was a &ldquo;shell&rdquo; company registered under the Securities Exchange Act of 1934, as amended, with
no specific business plan or purpose. Accordingly, the Merger is accounted for as a reverse recapitalization, with Amesite Operating
Company considered the acquirer for accounting purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
part of the Merger described in Note 1, the Company issued an aggregate of 5,833,333 shares of common stock in exchange for 100
percent of the outstanding and issued shares of Amesite Operating Company common stock. In addition, awards of stock options to
purchase 650,000 shares of Amesite Operating Company&rsquo;s common stock issued and outstanding immediately prior to the closing
of the Merger were assumed and converted into options, with equivalent terms, to purchase 947,917 shares of common stock of the
Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The reverse recapitalization
presented in the Statement of Stockholders&rsquo; Equity reflects the net result of the shares exchanged at fair value and the
3,100,000 shares of common stock of the Company issued and outstanding prior to the Merger. A note payable Lola One had outstanding
prior to the Merger, which was repaid during the period ended June 30, 2018, was recorded in additional paid-in capital. No other
consideration was provided to Lola One as part of the reverse recapitalization.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
4 - Property and Equipment</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment are summarized as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">June&nbsp;30,<BR>
    2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">December&nbsp;31,<BR>
    2017</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 0.5in; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: -7.2pt; padding-left: 7.2pt">Leasehold improvements</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">47,129</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: -7.2pt; padding-left: 7.2pt">Furniture and fixtures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,488</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,057</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -7.2pt; padding-left: 7.2pt">Computer equipment and software</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">22,701</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,843</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: -7.2pt; padding-left: 0.5in">Total cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97,318</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -7.2pt; padding-left: 7.2pt">Accumulated depreciation</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,612</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">245</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -7.2pt; padding-left: 0.5in">Net property and equipment</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">95,706</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">12,655</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
expense for periods ended June 30, 2018 and December 31, 2017 was $1,367 and $245, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57.6pt; text-indent: -57.6pt">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><B>Amesite, Inc.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Notes to Consolidated Financial Statements</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>



<P STYLE="margin: 0 0 0 0.5in; text-indent: 0">&nbsp;</P>

<P STYLE="margin: 0; text-indent: 0"><B>Note 5 - Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The Company issued
an aggregate of 2,921,145 shares of common stock pursuant to closings of a private placement on April 27, 2018 and also on June
8, 2018, at the sale price of $1.50 per share. The aggregate gross proceeds were approximately $4.4 million.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">In connection with
the private placement, the Company agreed to compensate the U.S. registered broker-dealer (the &ldquo;Placement Agent&rdquo; with
(i) a cash commission of 10 percent of the gross proceeds raised from investors in the private placement introduced by them, and
(ii) warrants to purchase that number of shares of common stock equal to 10 percent of the number of shares of common stock sold
to investors in the private placement introduced by them. Accordingly, the $438,172 cash commission paid and warrants with a fair
value of $203,615 issued to the Placement Agent to purchase up to an aggregate of 292,114 shares of common stock in the Company
are included in issuance costs in the Statement of Stockholders&rsquo; Equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">Concurrent with
the closing of the private placement, former shareholders of Amesite Operating Company purchased 895,829 shares of common stock
of the Company at a price of $1.20 per share for aggregate gross proceeds of approximately $1 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The capital structure
of the Company includes 50,000,000 authorized shares of common stock with a par value of $0.0001 per share and 5,000,000 authorized
shares of preferred stock with a par value of $0.0001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">As of June 30, 2018,
there were 12,750,307 and 0 shares of common stock and preferred stock, respectively, issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">As of December 31,
2017, there were 5,833,333 and 0 shares of common stock and preferred stock, respectively, issued and outstanding. See Note 3
for additional information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Note 6 - Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">On April 27, 2018
and June 8, 2018, the Company issued 212,665 and 79,449 common stock warrants, respectively, to the Placement Agent related to
fundraisings. The warrants have a term of five years from the closing date of the private placements and an exercise price of
$1.50 per share. The Company measures the warrants using the Black-Scholes Model (&ldquo;BSM&rdquo;) to estimate their fair value.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The warrants are
classified in stockholders&rsquo; equity of the Company.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The fair value of
the warrants issued during the year was $203,615 based on the following inputs and assumptions using the BSM: (i) expected stock
price volatility of 44.50%; (ii) risk-free interest rate of 2.86%; and (iii) expected life of warrants of 6 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The weighted-average
exercise price of all warrants outstanding as of June 30, 2018 was $1.50 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><B>Amesite, Inc.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Notes to Consolidated Financial Statements</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Note 7 - Stock-Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The Company&rsquo;s
2018 Equity Incentive Plan was adopted as part of the Merger (the &ldquo;2018 Plan&rdquo;), which replaced the 2017 Equity Incentive
Plan (&ldquo;2017 Plan&rdquo;) that existed prior to the Merger. There were no outstanding option grants as of December 31, 2017
under the 2017 Plan and no expense recognized during the period ended December 31, 2017. During 2018, the Company granted options
and restricted stock units under the 2017 Plan, all of which converted to options and restricted stock units under the 2018 Plan
in the Merger. The terms of the 2018 Plan are equivalent to those of the 2017 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The 2018 Plan permits the grant
of stock options, stock appreciation rights, restricted stock, or restricted stock units to officers, employees, directors, consultants,
agents, and independent contractors of the Company. The Company believes that such awards better align the interests of its employees,
directors, and consultants with those of its stockholders. Option awards are generally granted with an exercise price equal to
the market price of the Company&rsquo;s stock at the date of grant; those option awards generally vest over two years from the
grant date and generally have ten-year contractual terms. Certain option awards provide for accelerated vesting (as defined in
the 2018 Plan).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">During the six months
ended June 30, 2018, no awards were granted under the 2018 Plan. 2,529,000 shares of common stock will be available for awards
granted under the 2018 Plan, inclusive of 947,917 shares subject to options originally granted to non-employees under the 2017
Equity Incentive Plan (&ldquo;2017 Plan&rdquo;), converted to options under the 2018 plan in the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The Company estimates
the fair value of each option award using a BSM that uses the weighted-average assumptions included in the table below. Expected
volatilities are based on historical volatility of comparable companies. The Company uses historical data to estimate option exercise
within the valuation model, or estimates the expected option exercise when historical data is unavailable. The risk-free rate
for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.
The Company has not paid any dividends on common stock since its inception and does not anticipate paying dividends on its common
stock in the foreseeable future. When calculating the amount of annual compensation expense, the Company has elected not to estimate
forfeitures and instead accounts for forfeitures as they occur.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">A summary of option
activity for the six months ended June 30, 2018 is presented below:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid">Options</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Number
    of Shares</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Weighted
    Average Exercise Price</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">Weighted
                                         Average Remaining Contractual Term</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">(in
                                         years)</P></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Total
    Shares</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Outstanding at December 31, 2017</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 0.5in; background-color: White">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Granted</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">947,917</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: right">1.50</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: right">10.0</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">947,917</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Outstanding at June 30, 2018</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">947,917</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: right">1.50</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">947,917</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The weighted-average grant-date
fair value of options granted during the six months ended June 30, 2018 was $0.70. The options contained time-based vesting conditions
satisfied over a period of two years from the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of June 30, 2018, there was
approximately $582,000 of total unrecognized compensation cost related to nonvested options. That cost is expected to be recognized
over a weighted-average period of 1.75 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company recognized $180,802
in expense related to the 2018 Plan for the period ended June 30, 2018, composed of $102,084 for consulting services to be settled
in restricted shares and $78,718 related to nonqualified stock options granted to non-employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On July 13, 2018, the Company
issued 340,278 shares of restricted common stock under the 2018 Plan to non-employees in exchange for consulting services provided
to the Company. As of June 30, 2018, there was approximately $306,000 of total unrecognized compensation cost related to unrendered
services. That cost is expected to be recognized over the remaining contractual period of approximately 1.25 years.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Note 8 - Related Party Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The following is
a description of transactions between the Company and related parties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"><B><I>Advances from
stockholder</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">As of June 30, 2018
and December 31, 2017, the Company had outstanding advances from a stockholder totaling $1,065 and $28,728, respectively. Advances
from a stockholder of $210,564 and $28,728 to fund certain costs were received during the period ended June 30, 2018 and December
31, 2017, respectively. The Company repaid most of these advances during the period ended June 30, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><B>Amesite, Inc.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Notes to Consolidated Financial Statements</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Note 9 - Operating Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The Company is obligated
under an operating lease primarily for its offices. The lease requires the Company to pay insurance, utilities, and shared maintenance
costs in addition to the monthly rent of $3,733. A refundable security deposit of $5,000 was also required as part of the lease.
The lease expires in May, 2019 and has a one year renewal option. Total rent expense under the lease was $26,609 and $5,973 for
the periods ended June 30, 2018 and December 31, 2017, respectively. The future minimum annual commitments under this operating
lease are $37,333 through June 30, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Note 10 - Income Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The Company has
incorporated as a taxable corporation for tax purposes. The Company files income tax returns in the U.S. federal and State of
Michigan jurisdictions. For the six months ended June 30, 2018 and period from inception through December 31, 2017, the Company&rsquo;s
activities have not generated any taxable income or tax liabilities. Accordingly, a full valuation allowance has been recognized
against any tax expense, provision or deferred tax benefits.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">A reconciliation
of the provision for income taxes to income taxes computed by applying the statutory United States federal rate to income before
taxes is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 0.5in; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">Income tax expense (recovery),
    computed at 34 percent of pretax income (loss)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">(102,921</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">(10,698</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">Effect of nondeductible
    expenses</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">191</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">56</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">Changes to statutory
    tax rates</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,069</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">Change
    in valuation allowance</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">98,662</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">10,642</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Total
    provision for income taxes</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The income tax provision
differs from the expense that would result from applying statutory rates to income before income taxes as a result of adjustments
to the valuation allowance, expenses that are not deductible for tax purposes and the reduction in the federal income tax rate
from 34 percent to 21 percent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">The details of the
net deferred tax asset (liability) are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 0.5in; background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-indent: -0.1in; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">339</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">83</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Start-up
    and organizational costs</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">68,077</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,782</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    compensation expense</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,530</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    operating loss carryforward</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,358</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,777</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross
    deferred tax assets</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">109,304</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,642</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valuation
    allowance recognized for deferred tax assets</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(109,304</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10,642</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    deferred tax assets</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">Deferred tax assets
result primarily from various start-up operating costs that will be deductible when the Company is deemed to have begun trade
or business, as well as net operating losses. The Company has approximately $116,000 of net operating loss carryforwards available
to reduce future income taxes, of which approximately $17,000 of net operating loss carryforwards expire in 2037. Due to uncertainty
as to the realization of the net operating loss carryforwards and other deferred tax assets as a result of its limited operating
history and operating losses since inception, a full valuation allowance has been recorded against the Company&rsquo;s deferred
tax assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company does not have any
material unrecognized tax benefits as of June 30, 2018 or December 31, 2017. The Company&rsquo;s conclusions regarding uncertain
tax positions may be subject to review and adjustment at a later based upon ongoing analyses of tax laws, regulations, and interpretations
thereof as well as other factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If applicable, the Company would
classify any potential interest and penalties related to possible future liabilities for unrecognized income tax benefits as part
of income taxes in the accompanying consolidated financial statements. No interest or penalties were recorded during the periods
ended June 30, 2018 or December 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On December 22, 2017 the Tax
Cuts and Jobs Act was signed into law effective December 31, 2017. The reduction of the corporate tax rates decreased the valuation
of net deferred tax assets by approximately $4,000 at December 31, 2017.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

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<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><B>Amesite, Inc.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Notes to Consolidated Financial Statements</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 30, 2018 and December 31, 2017</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Note 11 - Subsequent Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">On July 13, 2018,
the Company issued 340,278 restricted shares of common stock in exchange for consulting services provided during the period ended
June 30, 2018, and for future services unrendered. The expense of the restricted share grant will be expensed ratably over the
term of the consulting contract. The restricted shares are subject to various provisions that prevent the stockholders from selling,
transferring or pledging the shares until the earlier of twelve months after the Company&rsquo;s common stock is quoted and traded
on a public exchange or October 1, 2019.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">On July 23, 2018,
the Company issued 70,000 stock options to purchase common stock to employees with an exercise price of $1.50, vesting over a
period of four years from the commencement date. The Company also issued 109,000 stock options to purchase common stock to a consultant,
with an exercise price of $1.50, vesting over a period of four years from the commencement date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="fin_007"></A><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid">Condensed
Consolidated Balance Sheets&nbsp;(unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">March&nbsp;31,<BR>
    2019</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">June&nbsp;30,<BR>
    2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">Assets</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Current Assets</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-left: 0.125in">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,092,022</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,274,116</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,831</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Other receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,020</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,609</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left"><B>Property and Equipment</B> - Net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97,434</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,706</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left"><B>Capitalized Software Costs</B> - Net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">786,412</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1.5pt"><B>Security Deposit</B> (Note 5)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">5,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">5,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt; padding-left: 0.375in">Total assets</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,027,719</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,532,431</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center">Liabilities and Stockholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">125,661</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,264</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Advances from stockholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,065</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Accrued and other current liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">223,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,674</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued subcontractor fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,950</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,915</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,536</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172,340</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.25in">Other accrued liabilities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">24,043</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">9,994</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in">Total liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">441,558</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">253,252</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left"><B>Stockholders&rsquo; Equity:</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Common stock, $.0001 par value; 100,000,000 shares
    authorized; 13,090,585 and 12,750,307 shares issued and outstanding at March 31, 2019 and June 30, 2018, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,309</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,275</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in">Preferred stock, $.0001 par value; 5,000,000 shares authorized; no
    shares issued and outstanding at March 31, 2019 and June 30, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,253,776</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,799,471</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Accumulated deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(2,668,924</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(521,567</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt; padding-left: 0.375in">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,586,161</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,279,179</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; padding-left: 0.375in">Total liabilities and stockholders&rsquo; equity</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,027,719</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,532,431</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="fin_008"></A><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid">&nbsp;Condensed
Consolidated Statement of Operations (unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended<BR>
    March&nbsp;31,<BR>
    2019</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Three Months <BR>
    Ended March&nbsp;31, <BR>
    2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Nine Months Ended <BR>
    March&nbsp;31, <BR>
    2019</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">November&nbsp;14, <BR>
    2017 (date of <BR>
    incorporation) <BR>
    through <BR>
    March&nbsp;31, <BR>
    2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-weight: bold; text-align: left">Net Sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,831</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">3,576</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Operating Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">General and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,679</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,969</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">272,281</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,523</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Contract services</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,970</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,778</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">151,437</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,778</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Travel expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,285</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,561</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,684</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Office rent</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,512</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,541</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,173</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,268</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,567</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">410,728</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,567</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Payroll and related expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">643,604</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,259,873</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.25in">Total operating expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">965,318</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">113,260</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,174,421</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">144,725</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Interest Income</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">14,226</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">23,488</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">Net Loss</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(948,261</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(113,260</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(2,147,357</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(144,725</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Earnings per Share</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; padding-bottom: 1.5pt">Basic earnings per share</TD><TD STYLE="font-weight: normal; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right">(0.07</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: normal; text-align: left">)</TD><TD STYLE="font-weight: normal; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right">(0.03</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: normal; text-align: left">)</TD><TD STYLE="font-weight: normal; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right">(0.16</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: normal; text-align: left">)</TD><TD STYLE="font-weight: normal; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right">(0.02</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: normal; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; padding-left: 0.25in">Weighted average shares outstanding</TD><TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal; text-align: right">13,090,585</TD><TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal; text-align: right">5,833,333</TD><TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal; text-align: right">13,075,628</TD><TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal; text-align: right">5,833,333</TD><TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="fin_009"></A><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; text-align: right; border-bottom: Black 1.5pt solid">Condensed
Consolidated Statement of Stockholders&rsquo; Equity (unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Common <BR>
    Stock</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Additional <BR>
    Paid-In <BR>
    Capital</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Accumulated <BR>
    Deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-weight: bold">Balance &ndash; June 30, 2018</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,275</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,799,471</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(521,567</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,279,179</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(641,486</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(641,486</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Issuance of restricted common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(34</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Stock compensation expense</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">148,241</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">148,241</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Balance &ndash; September 30, 2018</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,309</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">4,974,678</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">(1,163,053</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">3,785,934</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(557,610</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(557,610</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Stock compensation expense</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">153,726</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">153,726</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Balance &ndash; December 31, 2018</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,309</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">5,101,404</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">(1,720,663</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">3,382,050</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net Loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(948,261</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(948,261</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Stock compensation expense</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">152,372</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">152,372</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 4pt">Balance &ndash; March 31, 2019</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,309</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,253,776</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(2,668,924</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,586,161</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Common <BR>
    Stock</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Paid-In <BR>
    Capital</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Accumulated <BR>
    Deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>November 14, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 52%; text-align: left">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(31,465</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(31,465</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance <B>&ndash;
    </B>November 14, 2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">400</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">400</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Balance &ndash; December 31, 2017</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">400</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(31,465</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(31,065</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net Loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(113,260</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(113,260</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Stock compensation expense</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">18,640</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">18,640</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 4pt">Balance &ndash; March 31, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double">400</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double">18,640</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double">(144,725</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">)</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 4pt double">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 4pt double">(125,685</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="fin_010"></A><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; text-align: right; border-bottom: Black 1.5pt solid">&nbsp;Condensed
Consolidated Statement of Cash Flows (unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Nine Months Ended <BR>
    March&nbsp;31, <BR>
    2019</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">November&nbsp;14, <BR>
    2017 (date of <BR>
    incorporation) <BR>
    through <BR>
    March&nbsp;31, <BR>
    2018</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Cash Flows from Operating Activities</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-left: 0.125in">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(2,147,357</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(144,725</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Adjustments to reconcile net loss to net cash and
    cash equivalents from operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,860</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">732</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Stock compensation expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">454,339</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,640</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Changes in operating assets and liabilities which (used) provided cash:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts Receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,831</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(18,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Prepaid expenses and other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,589</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,397</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,694</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued and other liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(106,720</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">298,589</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.25in">Deferred offering costs</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(215,256</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Net cash and cash equivalents used in operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,412,029</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(60,020</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Cash Flows from Investing Activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Purchase of property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29,490</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,900</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Investment in capitalized software</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(739,510</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Net cash and cash equivalents used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(769,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,900</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Cash Flows from Financing Activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Net repayments to stockholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,065</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,856</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Issuance of common stock - net of offering costs</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">400</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Net cash and cash equivalents (used in) provided
    by financing activities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(1,065</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">92,256</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net Increase (Decrease) in Cash and Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,182,094</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,336</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1.5pt"><B>Cash and Cash Equivalents</B> - Beginning of period</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,274,116</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 4pt"><B>Cash and Cash Equivalents</B> - End of period</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,092,022</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">19,336</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><B>Significant Noncash Transactions
    </B>- Acquisition of capitalized software included in accounts payable and accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="fin_011"></A><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; text-align: right; border-bottom: Black 1.5pt solid">&nbsp;Notes
to Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 1&mdash;Nature of Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Amesite, Inc. (the &ldquo;Company&rdquo;)
was formed in November 2017 and is a development stage artificial intelligence software company targeting the college course market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the nine month period
ended March 31, 2019, the Company began generating revenue from its services and products. The Company&rsquo;s activities are
subject to significant risks and uncertainties, including failure to secure additional funding to execute the current business
plan.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">Note 2<FONT STYLE="font-weight: normal">&mdash;</FONT>Significant
Accounting Policies</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Basis of Presentation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The condensed consolidated financial
statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States
of America (&ldquo;GAAP&rdquo;) and considering the requirements of the United States Securities and Exchange Commission (&ldquo;SEC&rdquo;).
The Company has a fiscal year with a June 30 year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the opinion of management,
the condensed consolidated financial statements of the Company include all adjustments and accruals, consisting only of normal,
recurring accrual adjustments, which are necessary for a fair presentation of the results for the interim periods. These interim
results are not necessarily indicative of results for a full year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Certain information and footnote
disclosures normally included in financial statements prepared in accordance with GAAP have been condensed in or omitted from
this report pursuant to the rules and regulations of the SEC. These financial statements should be read together with the consolidated
financial statements and notes thereto included in the Company&rsquo;s Transition Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018011368/f10kt2018_amesiteinc.htm">Form 10-K</A> for the year ended June
30, 2018.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Principles of Consolidation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The condensed consolidated financial
statements of the Company include the accounts of Amesite, Inc. and its wholly owned subsidiary, Amesite Operating Company. All
material intercompany accounts and transactions have been eliminated in consolidation.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Use of Estimates</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of condensed
consolidated 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 and disclosure of contingent assets and liabilities
at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period.
Actual results could differ from those estimates.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Fair Value Measurements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Accounting standards require
certain assets and liabilities be reported at fair value in the financial statements and provide a framework for establishing
that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques
used to measure fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Fair values determined by Level
1 inputs use quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Fair values determined by Level
2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar
assets and liabilities in active markets and other inputs such as interest rates and yield curves that are observable at commonly
quoted intervals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;Notes
to Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 2&mdash;Significant Accounting Policies (Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 3 inputs are unobservable
inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset.
These Level 3 fair value measurements are based primarily on management&rsquo;s own estimates using pricing models, discounted
cash flow methodologies, or similar techniques.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In instances whereby inputs
used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety
are categorized based on the lowest level input that is significant to the valuation. The Company&rsquo;s assessment of the significance
of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Cash Equivalents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company considers all investments
with an original maturity of three months or less when purchased to be cash equivalents. The total amount of bank deposits (checking,
savings, and investment accounts) that was insured by the FDIC at year end was $250,000.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Property and Equipment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Property and equipment are recorded
at cost. The straight-line method is used for computing depreciation and amortization. Assets are depreciated over their estimated
useful lives. The cost of leasehold improvements is depreciated (amortized) over the lesser of the length of the related leases
or the estimated useful lives of the assets. Costs of maintenance and repairs are charged to expense when incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid">Depreciable Life - Years</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Leasehold improvements</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: left; padding-left: 0.1in">Shorter of estimated lease term or 10 years</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0in">Furniture and fixtures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0.1in">7 years</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Computer equipment and software</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0.1in">5 years</TD></TR>
</TABLE>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Capitalized Software
Costs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company capitalizes significant
costs incurred in the development of software for internal use, including the costs of the software, materials, consultants, and
payroll and payroll related costs for employees incurred in developing internal use computer software once final selection of
the software is made. Costs incurred prior to the final selection of software and costs not qualifying for capitalization are
charged to expense. The Company began amortizing the first generation of its platform on October 1, 2018 over a period of three
years and recognized amortization expense of approximately $26,000 and $52,000 for the three and nine month periods ended March
31, 2019, respectively.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Income Taxes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In calculating the provision
for interim income taxes, in accordance with Accounting Standards Codification (ASC) 740, Income Taxes, we apply an estimated
annual effective tax rate to year-to-date ordinary income. At the end of each interim period, we estimate the effective tax rate
expected to be applicable for the full fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</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: 0 0 0 0.5in; text-align: justify">Deferred tax assets are reduced
by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred
tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in the consolidated statement of operations in the period that includes the enactment date.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Risks and Uncertainties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company intends to operate
in an industry subject to rapid change. The Company&rsquo;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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;Notes
to Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 2&mdash;Significant Accounting Policies (Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The accompanying condensed consolidated
financial statements have been prepared assuming that the Company will continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has incurred losses
since inception, is still in the early stages of developing its service platform, and has not completed its efforts to establish
a stabilized source of revenues sufficient to cover costs over an extended period of time. These factors raise substantial doubt
about the Company&rsquo;s ability to continue as a going concern. The Company&rsquo;s ability to continue as a going concern is
dependent on its ability to raise additional capital and implement its business plan. Despite management&rsquo;s ongoing efforts,
there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable. These
financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should the Company be unable to continue as a going concern.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Research and Development</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Research and development expenditures
are charged to expense as incurred. Research and development expense of approximately $0 and $94,000 was charged to expense during
the three months and nine months ended March 31, 2019, respectively.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Net Loss per Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Basic net loss per share is
computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during
the period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various
methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during
each reporting period. For the three and nine months ended March 31, 2019, the Company had 1,091,833 and 292,114 potentially dilutive
shares of common stock related to common stock options and common stock warrants, respectively, as determined using the if-converted
method. For the three months ended March 31, 2018 and period of inception through March 31, 2018, the Company had 1,288,195 potentially
dilutive shares of common stock related to common stock options, as determined using the if-converted method. For all periods
presented, the dilutive effect of common stock options and common stock warrants has not been included in the average shares outstanding
for the calculation of net loss per share as the effect would be anti-dilutive as a result of our net losses in this period.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Stock-Based Payments</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Financial Accounting Standards
Board (&ldquo;FASB&rdquo;) Accounting Standards Codification (&ldquo;ASC&rdquo;) Topic 718 &ldquo;Compensation-Stock Compensation&rdquo;
requires companies to measure the cost of employee services received in exchange for the award of equity instruments based on
the estimated fair value of the award at the date of grant. The expense is to be recognized over the period during which an employee
is required to provide services in exchange for the award. The Company accounts for shares of common stock, stock options and
warrants issued to employees based on the fair value of the stock, stock option or warrant, if that value is more reliably measurable
than the fair value of the consideration or services received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company accounts for stock
options and restricted shares of common stock issued to non-employees in accordance with the FASB ASC Subtopic 505-50 &ldquo;Equity-Based
Payments to Non-Employees&rdquo;. Accordingly, the fair value of the stock compensation issued to non-employees is based upon
the measurement date as determined at the earlier of either a) the date at which a performance commitment is reached, or b) the
date which the necessary performance to earn the equity instruments is complete. When a measurement date has not yet been reached
for stock options and restricted shares of common stock outstanding held by non-employees, the Company remeasures these outstanding
awards to fair value at each reporting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;Notes
to Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 2&mdash;Significant Accounting Policies (Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upcoming Accounting
Pronouncements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In May 2014, the FASB issued
ASU No. 2014-09, <I>Revenue from Contracts with Customers (Topic 606)</I>, which will supersede the current revenue recognition
requirements in Topic 605, <I>Revenue Recognition</I>. The ASU is based on the principle that revenue is recognized to depict
the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be
entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing,
and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments
and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance will be effective for the Company&rsquo;s
year beginning July 1, 2019 The standard is not expected to have a significant impact on the consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In February 2016, the FASB issued
ASU 2016-02, <I>Leases</I>, which will supersede the current lease requirements in ASC 840. The ASU requires lessees to recognize
most leases on the balance sheet thereby resulting in the recognition of lease assets and liabilities for those leases currently
classified as operating leases. ASU 2016-02 is effective beginning July 1, 2020 with early adoption permitted. The Company is
continuing to assess the impact of ASU 2016-02. The Company&rsquo;s primary impact to its consolidated financial position upon
adoption will be the recognition, on a discounted basis, of minimum commitments under noncancelable operating leases on its consolidated
balance sheet resulting in the recording of right of use assets and lease obligations. Current minimum commitments under noncancelable
operating leases are disclosed in Note 5.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">Note 3&mdash;Warrants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On April 27, 2018 and June 8,
2018, the Company issued 212,665 and 79,449 common stock warrants, respectively, to a placement agent related to fundraisings.
The warrants have a term of five years from the closing date of the private placements and an exercise price of $1.50 per share.
The Company measures the fair value of the warrants using the Black-Scholes Model (&ldquo;BSM&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The warrants are classified
in stockholders&rsquo; equity of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The fair value of the warrants
issued during the year ended June 30, 2018 was $203,615 based on the following inputs and assumptions using the BSM: (i) expected
stock price volatility of 44.50%; (ii) risk-free interest rate of 2.86%; and (iii) expected life of warrants of 6 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The weighted-average exercise
price of all warrants outstanding as of March 31, 2019 was $1.50 per share.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">Note 4&mdash;Stock-Based
Compensation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&rsquo;s Equity Incentive
Plan (the &ldquo;Plan&rdquo;) permits the grant of stock options, stock appreciation rights, restricted stock, or restricted stock
units to officers, employees, directors, consultants, agents, and independent contractors of the Company. The Company believes
that such awards better align the interests of its employees, directors, and consultants with those of its stockholders. Option
awards are generally granted with an exercise price equal to the market price of the Company&rsquo;s stock at the date of grant;
those option awards generally vest over two years from the grant date and generally have ten-year contractual terms. Certain option
awards provide for accelerated vesting (as defined in the Plan).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has reserved 2,529,000
shares of common stock to be available for granting under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company estimates the fair
value of each option award using a BSM that uses the weighted-average assumptions included in the table below. Expected volatilities
are based on historical volatility of comparable companies. The Company uses historical data to estimate option exercise within
the valuation model, or estimates the expected option exercise when historical data is unavailable. The risk-free rate for periods
within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Company
has not paid any dividends on common stock since its inception and does not anticipate paying dividends on its common stock in
the foreseeable future. When calculating the amount of annual compensation expense, the Company has elected not to estimate forfeitures
and instead accounts for forfeitures as they occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;Notes
to Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 4&mdash;Stock-Based Compensation (Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A summary of option activity
for the nine months ended March 31, 2019 is presented below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid">Options</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Number of Shares</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Weighted Average <BR>
    Exercise Price</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Weighted Average <BR>
    Remaining <BR>
    Contractual Term<BR>
    (in years)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Total Shares</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-indent: -0.1in; padding-left: 0.1in">Outstanding at July 1, 2018</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">947,917</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.50</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">947,917</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">270,916</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">270,916</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in">Terminated</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(127,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">1.50</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(127,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in">Outstanding at March 31, 2019</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">1,091,833</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: right">1.50</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: right">9.16</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">1,091,833</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The weighted-average grant-date
fair value of options granted during the three months and nine months ended March 31, 2019 was $0.70. The options contained time-based
vesting conditions satisfied over a period of four years from the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company recognized $152,372
and $454,339 in expense related to the Plan for the three month and nine month period ended March 31, 2019, respectively. The
expense is comprised of $61,250 for consulting services settled in restricted shares and $91,121 related to stock options for
the three month period ended March 31, 2019. The expense is comprised of $183,750 for consulting services settled in restricted
shares and $270,588 related to stock options for the nine month period ended March 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of March 31, 2019, there
was approximately $412,508 of total unrecognized compensation cost for employees and non-employees related to nonvested options.
That cost is expected to be recognized over a weighted-average period of 1.25 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On July 13, 2018, the Company
issued 340,278 restricted shares of common stock in exchange for consulting services provided during the period ended June 30,
2018, and for future services unrendered. The measurement date for all outstanding restricted shares may not be reached until
the contractual end of the contract in September 2019. Accordingly, the Company has estimated the fair value of those services
performed through March 31, 2019, and recorded an expense in the consolidated statements of operations. The expense is recognized
ratably over the term of the consulting contract and amounted to $183,750 during the nine months ended March 31, 2019. As of March
31, 2019, there was approximately $122,500 of total unrecognized compensation cost for non-employees related to unrendered services.
That cost is expected to be recognized over the remaining contractual period of approximately 6 months. The restricted shares
are subject to various provisions that prevent the stockholders from selling, transferring or pledging the shares until the earlier
of twelve months after the Company&rsquo;s common stock is quoted and traded on public exchange or October 1, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amesite, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;Notes
to Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">Note 5&mdash;Operating
Lease</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company is obligated under
an operating lease primarily for its office. The lease requires the Company to pay insurance, utilities, and shared maintenance
costs in addition to the monthly rent of $3,733 through May 2019. A refundable security deposit of $5,000 was also required as
part of the lease. During March 2019, the lease was extended through May 2022 with monthly payments of $7,942 being due through
May 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Total rent expense was $52,541
for the nine months ended March 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The future minimum annual commitments
under this operating lease are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid">Fiscal Year Ending June 30</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Amount</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left">2019</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">19,617</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">95,304</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">95,304</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">2022</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">79,420</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">289,645</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 6&mdash;Income Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">For the three and nine months
ended March 31, 2019 and prior periods since inception, the Company&rsquo;s activities have not generated any taxable income or
tax liabilities. Accordingly, the Company has not recognized an income tax benefit for the three and nine months ended March 31,
2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has approximately
$2,178,000 of net operating loss carryforwards available to reduce future income taxes, of which approximately $17,000 of net
operating loss carryforwards expire in 2037. Due to uncertainty as to the realization of the net operating loss carryforwards
and other deferred tax assets as a result of the Company&rsquo;s limited operating history and operating losses since inception,
a full valuation allowance has been recorded against the Company&rsquo;s deferred tax assets.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">Note 7&mdash;Subsequent
Events</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.8in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has evaluated the
period subsequent to March 31, 2019 for any events that did not exist at the balance sheet date but arose after that date and
determined that no subsequent events arose that should be disclosed in order to keep the financial statements from being misleading.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II<BR>
INFORMATION NOT REQUIRED IN THE PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 13. Other Expenses of Issuance and Distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The following table
sets forth the estimated fees and expenses payable by us in connection with the offering of the securities being registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left">SEC registration fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">53.11</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.15in; padding-left: 0.15in">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.15in; padding-left: 0.15in">Printing and miscellaneous
    expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; text-indent: -0.15in; padding-left: 0.15in">Total</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">[&#9679;]</P></TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 14. Indemnification of Directors and Officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are incorporated
under the laws of the State of Delaware. Section 145 of the Delaware General Corporation Law provides that a Delaware corporation
may indemnify any persons who were, are, or are threatened to be made, parties to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such
corporation), by reason of the fact that such person is or was an officer, director, employee or agent of such corporation, or
is or was serving at the request of such corporation as an officer, director, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually
and reasonably incurred by such person in connection with such action, suit or proceeding, provided that such person acted in
good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation&rsquo;s best interests and,
with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. A Delaware
corporation may indemnify any persons who were, are, or are threatened to be made, a party to any threatened, pending or completed
action or suit by or in the right of the corporation by reason of the fact that such person is or was a director, officer, employee
or agent of such corporation, or is or was serving at the request of such corporation as a director, officer, employee or agent
of another corporation or enterprise. The indemnity may include expenses (including attorneys&rsquo; fees) actually and reasonably
incurred by such person in connection with the defense or settlement of such action or suit provided such person acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the corporation&rsquo;s best interests except that
no indemnification is permitted without judicial approval if the officer or director is adjudged to be liable to the corporation.
Where an officer or director is successful on the merits or otherwise in the defense of any action referred to above, the corporation
must indemnify him or her against the expenses (including attorneys&rsquo; fees) actually and reasonably incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
certificate of incorporation provides that to the fullest extent permitted by the General Corporation Law, a director shall not
be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. Our amended and
restated bylaws provide that we shall indemnify and hold harmless our directors and officers to the fullest extent permitted by
applicable law, except that we will not be required to indemnify or hold harmless any director or officer in connection with any
proceeding initiated by such person unless the proceeding was authorized by our board of directors. Under our amended and restated
bylaws, such rights shall not be exclusive of any other rights acquired by directors and officers, including by agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
bylaws provide that we will pay expenses to any director or officer prior to the final disposition of the proceeding, provided,
however, that such advancements shall be made only upon receipt of an undertaking by such director or officer to repay all amounts
advanced if it should be ultimately determined that such director or officer is not entitled to indemnification under the amended
and restated bylaws of or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 174 of the
Delaware General Corporation Law provides, among other things, that a director who willfully or negligently approves of an unlawful
payment of dividends or an unlawful stock purchase or redemption may be held liable for such actions. A director who was either
absent when the unlawful actions were approved, or dissented at the time, may avoid liability by causing his or her dissent to
such actions to be entered in the books containing minutes of the meetings of the board of directors at the time such action occurred
or immediately after such absent director receives notice of the unlawful acts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the
indemnification obligations required by our amended and restated certificate of incorporation and amended and restated bylaws,
we have entered into indemnification agreements with each of our directors and officers. These agreements provide for the indemnification
of our directors and executive officers for all reasonable expenses and liabilities incurred in connection with any action or
proceeding brought or threatened to be brought against them by reason of the fact that they are or were our agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a condition to
the Merger, we also entered into a Pre-Merger Indemnity Agreement with our former officers and directors, pursuant to which we
agreed to indemnify such former officers and directors for actions taken by them in their official capacities relating to the
consideration, approval and consummation of the Merger and certain related transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect to obtain
general liability insurance that covers certain liabilities of our directors and officers arising out of claims based on acts
or omissions in their capacities as directors or officers, including liabilities under the Securities Act. Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the registrant
pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The above provisions
may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. The provisions may
also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action,
if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder&rsquo;s investment may be adversely
affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions. We believe that these amended and restated certificate of incorporation provisions, amended and restated bylaw provisions,
indemnification agreements and the insurance are necessary to attract and retain qualified persons as directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At present, there
is no pending litigation or proceeding involving any of our directors or officers where indemnification will be required or permitted.
We are not aware of any threatened litigation or proceedings that might result in a claim for such indemnification.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 15. Recent Sales of Unregistered Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Set forth below is
information regarding securities issued or granted by us within the past three years that were not registered under the Securities
Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">A.</TD><TD STYLE="text-align: justify">On April 17, 2017, the Company issued
                                         an aggregate of 935,000 shares of Common Stock to Mark Tompkins for an aggregate purchase
                                         price equal to $23,375 representing amounts advanced by Mr. Tompkins to counsel for the
                                         Company in connection with the formation and organization of the Company, and an aggregate
                                         of 65,000 shares of Common Stock to Ian Jacobs for an aggregate cash purchase price equal
                                         to $1,625.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">B.</TD><TD STYLE="text-align: justify">On June 5, 2017, the Company issued
                                         a promissory note to Mark Tompkins, a stockholder and former director of the Company
                                         pursuant to which the Company agreed to repay Mr. Tompkins the sum of any and all amounts
                                         that Mr. Tompkins advanced to the Company on or before the effective date of the Merger.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">C.</TD><TD STYLE="text-align: justify">On April 2, 2018, the Company issued
                                         33,333 shares of common stock to its legal counsel in connection with services rendered
                                         to the Company pre-Merger.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">D.</TD><TD STYLE="text-align: justify">On April 27, 2018 and June 8, 2018
                                         in connection with the Private Placement, we issued an aggregate of 2,921,145 shares
                                         of common stock at a price of $1.50 per share to accredited investors for aggregate gross
                                         proceeds of approximately $4.4 million. On April 27, 2018 and June 8, 2018 in connection
                                         with the Private Placement, we issued warrants to purchase an aggregate of 212,665 and
                                         79,449 shares, respectively, of common stock to the Placement Agents, at an exercise
                                         price of $1.50 per share.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">E.</TD><TD STYLE="text-align: justify">On April 27, 2018, pursuant to the
                                         terms of the Merger Agreement, all of the shares of capital stock of Amesite OpCo, including
                                         restricted common stock issued by Amesite OpCo to its pre-Merger stockholders (which
                                         outstanding amounts were first converted into shares of Amesite OpCo common stock immediately
                                         prior to the Effective Time of the Merger), were converted into an aggregate of 5,833,333
                                         shares of our common stock after adjustments due to rounding for fractional shares. In
                                         addition, we assumed all outstanding equity awards to purchase Amesite OpCo common stock
                                         that remained outstanding under the 2017 Plan, whether vested or unvested, and converted
                                         them into equity awards to purchase an aggregate of 1,288,195 shares of our common stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">F.</TD><TD STYLE="text-align: justify">On April 27, 2018, in connection with
                                         the Insider Investment, we issued 895,829 shares of common stock at a price of $1.20
                                         to accredited investors for aggregate gross proceeds of approximately $1.07 million.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">G.</TD><TD STYLE="text-align: justify">On July 13, 2018, the Company issued
                                         340,278 restricted shares of common stock in exchange for consulting services provided
                                         during the period ended June 30, 2018, and for future services unrendered.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">H.</TD><TD STYLE="text-align: justify">On June 11, 2019, the Company issued a warrant to purchase
up to 1,479,078 shares of the Company&rsquo;s common stock, par value $0.0001 per share (the &ldquo;Warrant&rdquo;) to an accredited
investor for advisory services rendered. The Warrant is exercisable at $1.50 per share, subject to adjustment, and has a term
of five (5) years.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The transactions described
in paragraphs A through G were exempt from registration under Section 4(a)(2) of the Securities Act (or Rule 506 of Regulation
D) as not involving any public offering.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales of Unregistered Securities of Amesite OpCo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following list
sets forth information as to all securities Amesite OpCo sold from since inception, which were not registered under the Securities
Act. The following description is historical and has not been adjusted to give effect to the Merger or the share conversion ratio
pursuant to the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">On November 14, 2017, Amesite OpCo
                                         issued an aggregate of 4,000,000 shares of Class B common stock at a price per share
                                         of $0.0001 for aggregate gross consideration of approximately $400 to 1 accredited investor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The transaction described
in paragraph 1 above was exempt from registration under the Securities Act in reliance on Rule 701 of the Securities Act as offers
and sales of securities under compensatory benefit plans and contracts relating to compensation in compliance with Rule 701. Each
of the recipients of securities in any transaction exempt from registration either received or had adequate access, through employment,
business or other relationships, to information about us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None of the securities
described in this Item 15 were sold through an underwriter and, accordingly, there were no underwriting discounts or commissions
involved.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 16. Exhibits and Financial Statement Schedules</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The exhibit index attached hereto is incorporated
herein by reference.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) Financial Statement Schedules</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">All schedules have
been omitted because the information required to be set forth in the schedules is either not applicable or is included in our
financial statements or notes to those financial statements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 17. Undertakings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The undersigned registrant hereby
                                         undertakes:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">To file, during any period in which
                                         offers or sales are being made, a post-effective amendment to this registration statement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">to include any prospectus required
                                         by Section 10(a)(3) of the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">to reflect in the prospectus any
                                         facts or events arising after the effective date of the registration statement (or the
                                         most recent post-effective amendment thereof) which, individually or in the aggregate,
                                         represent a fundamental change in the information set forth in the registration statement.
                                         Notwithstanding the foregoing, any increase or decrease in volume of securities offered
                                         (if the total dollar value of securities offered would not exceed that which was registered)
                                         and any deviation from the low or high end of the estimated maximum offering range may
                                         be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if,
                                         in the aggregate, the changes in volume and price represent no more than a 20 percent
                                         change in the maximum aggregate offering price set forth in the &ldquo;Calculation of
                                         Registration Fee&rdquo; table in the effective registration statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">to include any material information
                                         with respect to the plan of distribution not previously disclosed in the registration
                                         statement or any material change to such information in the registration statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">That, for the purpose of determining
                                         any liability under the Securities Act, each such post-effective amendment shall be deemed
                                         to be a new registration statement relating to the securities offered therein, and the
                                         offering of such securities at that time shall be deemed to be the initial <I>bona fide
                                         </I>offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">To remove from registration by
                                         means of a post-effective amendment any of the securities being registered which remain
                                         unsold at the termination of the offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">That, for the purpose of determining
                                         liability under the Securities Act to any purchaser:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Each prospectus filed pursuant to
                                         Rule 424(b) as part of the registration statement relating to an offering, other than
                                         registration statements relying on Rule 430B or other than prospectuses filed in reliance
                                         on Rule 430A, shall be deemed to be part of and included in the registration statement
                                         as of the date it is first used after effectiveness. <I>Provided</I>, <I>however</I>,
                                         that no statement made in a registration statement or prospectus that is part of the
                                         registration statement or made in a document incorporated or deemed incorporated by reference
                                         into the registration statement or prospectus that is part of the registration statement
                                         will, as to a purchaser with a time of contract of sale prior to such first use, supersede
                                         or modify any statement that was made in the registration statement or prospectus that
                                         was part of the registration statement or made in any such document immediately prior
                                         to such date of first use.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.85pt"></TD><TD STYLE="width: 35.45pt">(b)</TD><TD STYLE="text-align: justify">Insofar as indemnification for
                                         liabilities arising under the Securities Act may be permitted to directors, officers
                                         and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise,
                                         the registrant has been advised that in the opinion of the SEC such indemnification is
                                         against public policy as expressed in the Act and is, therefore unenforceable. In the
                                         event that a claim for indemnification against such liabilities (other than the payment
                                         by the registrant of expenses incurred or paid by a director, officer or controlling
                                         person of the registrant in the successful defense of any action, suit or proceeding)
                                         is asserted by such director, officer or controlling person in connection with the securities
                                         being registered, the registrant will, unless in the opinion of its counsel the matter
                                         has been settled by controlling precedent, submit to a court of appropriate jurisdiction
                                         the question whether such indemnification by it is against public policy as expressed
                                         in the Act and will be governed by the final adjudication of such issue.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_024"></A>EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit
        Number</B></FONT></P></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 89%; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit
    Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">2.1&dagger; (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex2-1_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Agreement and Plan of Merger and
    Reorganization, dated April 26, 2018, by and among Lola One Acquisition Corporation, Acquisition Sub, a Delaware corporation
    and wholly-owned subsidiary of the Company, and Amesite OpCo, a Delaware corporation.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">3.1 (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex3-1_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certificate of Merger relating to
    the merger of Acquisition Sub with and into Amesite OpCo, filed with the Secretary of State of the State of Delaware on April
    26, 2018, effective on April 27, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">3.2 (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex3-2_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certificate of Amendment to Certificate
    of Incorporation, filed with the Secretary of State of the State of Delaware on April 30, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">3.3 (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018011731/fs12018a1ex3-3_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amended and Restated Certificate
    of Incorporation filed with the Secretary of State of the State of Delaware on August 20, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">3.4 (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex3-4_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amended and Restated Bylaws, as currently
    in effect.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">4.1 (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex4-1_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Warrant to Purchase Shares
    of Common Stock issued to Placement Agent.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">4.2 (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex4-2_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Registration Rights Agreement
    by and among the Company and the persons named therein.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">4.3 (1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018004363/f8k040918ex4-1_lolaone.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Pre-Funded Warrant.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">5.1 (7)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="fs12019ex5-1_amesite.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Opinion of Dorsey &amp; Whitney LLP</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.1+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-1_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017 Equity Incentive Plan and forms
    of award agreements thereunder, assumed in the Merger.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.2+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-2_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018 Equity Incentive Plan and forms
    of award agreements thereunder.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.3+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-3_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Subscription Agreement by
    and between the Company and each investor in the Private Placement.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.4+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-4_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Employment Agreement dated as of
    November 14, 2017 by and between Amesite OpCo and Ann Marie Sastry.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.5+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-5_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consulting Agreement dated as of
    April 4, 2018 by and between Amesite OpCo and Richard Ogawa.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.6+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-6_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consulting Agreement dated as of
    April 5, 2018 by and between Amesite OpCo and Bernie Chong.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.7 (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-7_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lease Agreement dated as of November
    13, 2017 by and between Amesite OpCo and 205-207 East Washington, LLC.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.8+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-8_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Pre-Merger Indemnity Agreement.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.9 (2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390017006857/f1012g2017ex10i_lolaoneacqu.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common Stock Purchase Agreement by
    and between the Company and Mark Tompkins, dated April 17, 2017.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.10 (2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390017006857/f1012g2017ex10ii_lolaoneacqu.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common Stock Purchase Agreement by
    and between the Company and Ian Jacobs, dated April 17, 2017.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.11 (1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018004363/f8k040918ex10-1_lolaone.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Subscription Agreement for
    Pre-Funded Warrant.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.12+ (3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018005421/f8k042618ex10-12_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Employment Agreement dated as of
    April 27, 2018 by and between the Company and Ann Marie Sastry.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">10.13 (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018011731/fs12018a1ex10-13_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form of Lock-up Agreement</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>10.14 (8)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018015882/f8k110918ex10-1_amesiteinc.htm">Consulting Agreement by between the Company and Richard DiBartolomeo</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">16.1 (4)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018009201/fs12018ex16-1_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Letter from Raich Ende Malter &amp;
    Co. LLP as to the change in certifying accountant</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">21.1 (4)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707258/000121390018009201/fs12018ex21-1_amesiteinc.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subsidiaries of Amesite Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">23.1 (7)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="fs12019ex23-1_amesite.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consent of Deloitte &amp; Touche
    LLP</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">23.2 (7)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="fs12019ex5-1_amesite.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consent of Dorsey &amp; Whitney LLP (included in Exhibit 5.1)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">24.1 (7)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="#a_025"><FONT STYLE="font-family: Times New Roman, Times, Serif">Power of Attorney (included on the signature page hereto)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">101.INS (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL Instance Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">101.SCH (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL Taxonomy Extension Schema Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">101.CAL (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL Taxonomy Extension Calculation
    Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">101.DEF (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL Taxonomy Definition Linkbase
    Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">101.LAB (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL Taxonomy Extension Label Linkbase
    Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">101.PRE (5)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL Taxonomy Extension Presentation
    Linkbase Document</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">+</TD><TD STYLE="text-align: justify">Indicates a management contract or compensatory plan.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Incorporated by reference to the indicated exhibit in Lola
One Acquisition Corporation&rsquo;s Current Report on Form 8-K filed on April 12, 2018.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Incorporated by reference to the indicated exhibit in Lola
One Acquisition Corporation&rsquo;s registration statement on Form 10 filed on June 27, 2017.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Incorporated by reference to the indicated exhibit in Amesite
Inc.&rsquo;s Current Report on Form 8-K filed on May 2, 2018.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Incorporated by reference to the indicated exhibit in Amesite
Inc.&rsquo;s Registration Statement on Form S-1 filed July 13, 2018.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Incorporated by reference to the indicated exhibit in Amesite
Inc.&rsquo;s Registration Statement on Form S-1/A filed on August 24, 2018</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(6)</TD><TD STYLE="text-align: justify">Incorporated by reference to the indicated exhibit in Amesite
Inc.&rsquo;s Current Report on Form 8-K filed on August 23, 2018.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">(7)</TD><TD STYLE="text-align: justify">Filed herewith</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">(8)</TD><TD STYLE="text-align: justify">Incorporated by reference to Exhibit 10.1 in Amesite Inc.&rsquo;s Current Report on Form 8-K filed on
November 11, 2018</TD></TR>
</TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_025"></A>SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements of the Securities Act, the registrant has duly caused this registration statement
to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Ann Arbor, State of Michigan, on June
28, 2019.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AMESITE INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Ann Marie Sastry</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ann Marie Sastry, Ph.D.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<I>principal executive officer)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Rick DiBartolomeo</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rick DiBartolomeo</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<I>principal financial officer</I>)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Pursuant to the requirements
of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities
indicated on the date indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURE</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 44%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TITLE</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DATE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Ann Marie Sastry, Ph.D.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer and Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(<I>principal executive officer)</I></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ann Marie Sastry, Ph.D.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Rick DiBartolomeo</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(<I>principal financial officer and principal accounting officer</I>)</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rick DiBartolomeo</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ J. Michael Losh</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">J. Michael Losh</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Edward Frank</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Edward Frank</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Richard Ogawa</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard Ogawa</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Anthony Barkett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anthony Barkett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">II-5</P>

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[{"type": "S-1", "sequence": "1", "filename": "fs12019_amesiteinc.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 1009531}]
{"company-data": {"conformed-name": "Amesite Inc.", "cik": "0001707258", "assigned-sic": "7372", "irs-number": "821433756", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-232419", "film-number": "19928711"}, "business-address": {"street1": "207 EAST WASHINGTON STREET", "city": "ANN ARBOR", "state": "MI", "zip": "48104", "phone": "650-516-7633"}, "mail-address": {"street1": "207 EAST WASHINGTON STREET", "city": "ANN ARBOR", "state": "MI", "zip": "48104"}, "former-company": {"former-conformed-name": "Lola One Acquisition Corp", "date-changed": "20170522"}}
As filed with the Securities and Exchange Commission on June
28, 2019
Registration
Number 333-[●]
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
S-1
REGISTRATION
STATEMENT
UNDER
THE
SECURITIES ACT OF 1933
Amesite
Inc.
(Exact
name of registrant as specified in its charter)
Delaware
7372
82-1433756
(State
    or other jurisdiction of
(Primary
    Standard Industrial
(I.R.S.
    Employer
incorporation
    or organization)
Classification
    Code Number)
Identification Number)
205
East Washington Street,
Suite B
Ann Arbor, MI 48104
(650)
516-7633
(Address,
including zip code, and telephone number, including area code, of registrant's principal executive offices)
Amesite
Inc.
Attn: Ann Marie Sastry
205 East Washington Street,
Suite
B
Ann
Arbor, MI 48104
(650)
516-7633
(Name,
address, including zip code, and telephone number, including area code, of agent for service)
Copies
to:
Terence L. Kelly, Esq.
Anthony W. Epps, Esq.
Dorsey & Whitney LLP
1400 Wewatta Street, Suite 400
Denver, Colorado 80202
(303) 629-3400
From
time to time after this registration statement is declared effective.
(Approximate
date of commencement of proposed sale to the public)
If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933, check the following box. ☒
If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please
check the following box and list the Securities Act registration statement number of the earlier effective registration statement
for the same offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting
company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large
    Accelerated filer ☐
Accelerated
    filer ☐
Non-accelerated
                                         Filer ☒
Smaller
    reporting company  ☒
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 7(a)(2)(B) of the Securities Act.
☐
CALCULATION OF REGISTRATION
    FEE
Title of Each Class of Securities To be Registered
Amount to be Registered(1)
Proposed Maximum Offering
    Price Per Unit(2)
Proposed Maximum Aggregate
    Offering Price(2)
Amount of Registration Fee
Common Stock, par value $0.0001 per
    share
292,114
$
1.50
$
438,171
$
53.11
(1)
Represents shares
                                         offered by the selling stockholders. Includes an indeterminable number of additional
                                         shares of common stock, pursuant to Rule 416 under the Securities Act of 1933, as amended,
                                         that may be issued to prevent dilution from stock splits, stock dividends or similar
                                         transactions that could affect the shares to be offered by the selling stockholders.
(2)
Estimated
                                         solely for the purpose of calculating the amount of the registration fee pursuant to
                                         Rule 457(g) under the Securities Act of 1933, as amended, based upon the original sale
                                         price of the shares of common stock sold at a price per share of $1.50 in a private placement
                                         offering with closings on April 27, 2018 and June 8, 2018.
The registrant hereby amends this
Registration Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a
further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with
Section 8(a) of the Securities Act of 1933, as amended, or until this Registration Statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The
information in this prospectus is not complete and may be changed. The selling stockholders may not sell these securities pursuant
to this prospectus until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus
is not an offer to sell these securities and is not soliciting offers to buy these securities in any jurisdiction where the offer
or sale is not permitted.
SUBJECT
TO COMPLETION, DATED JUNE 28, 2019
PRELIMINARY
PROSPECTUS
292,114
Shares of Common Stock
This
prospectus relates to the offering and resale by the selling stockholders identified herein of up to 292,114 shares of common
stock of Amesite Inc., par value $0.0001 per share, which includes an aggregate 292,114 shares of common stock issuable upon the
exercise of warrants issued to Laidlaw & Company (UK) Ltd. as compensation for placement agent services provided to the Company
in connection with its April 28, 2018 and June 8, 2018 private placement. All of the shares of common stock being offered, when
sold, will be sold by the selling stockholders. Other than what we may receive for the exercise of the warrants, we will not receive
any proceeds from the sale of these shares of common stock by the selling stockholders. The selling stockholders may sell the
shares of our common stock offered by this prospectus from time to time through the means described in this prospectus under the
caption "Plan of Distribution." For a list of the selling stockholders, see the section entitled "Selling Stockholders"
on page 36. We have borne and will continue to bear the costs relating to the registration of these shares of common stock.
There
is not currently, and there has never been, any established public trading market for any of our securities. Our securities are
not currently eligible for trading on any national securities exchange, including the NASDAQ Stock Market, or any over-the-counter
markets. We cannot assure you that our securities will become eligible for trading on any exchange or market. In connection with
this offering, we have arranged for a registered broker-dealer to apply to have our common stock quoted on the OTCBB or another
over-the-counter system not including the OTC Pink Market. Until such time as our common stock is quoted on the OTCBB or another
over-the-counter system not including the OTC Pink Market, the selling stockholders identified herein may only sell their shares
of our common stock pursuant to this prospectus at a fixed price of $1.50 per share, for a total offering amount of $438,171.
At and after such time, the selling stockholders may sell all or a portion of their shares through public or private transactions
at prevailing market prices or at privately negotiated prices.
We
may amend or supplement this prospectus from time to time by filing amendments or supplements as required. You should read the
entire prospectus and any amendments or supplements carefully before you make your investment decision.
We
are an "emerging growth company" as defined under the federal securities laws, and, as such, are eligible for reduced
public company reporting requirements. See "Prospectus Summary—Emerging Growth Company."
Investing
in our common stock involves a high degree of risk. Before making an investment decision, please read "Risk Factors"
beginning on page 6 of this prospectus.
Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The
date of this prospectus is [●], 2019
TABLE
OF CONTENTS
ABOUT
    THIS PROSPECTUS
ii
SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS
ii
PROSPECTUS
    SUMMARY
1
THE
    OFFERING
5
RISK
    FACTORS
6
DESCRIPTION
    OF OUR BUSINESS
13
MANAGEMENT'S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
19
DIRECTORS
    AND EXECUTIVE OFFICERS
24
EXECUTIVE
    AND DIRECTOR COMPENSATION
31
CERTAIN
    RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
35
USE
    OF PROCEEDS
36
DIVIDEND
    POLICY
36
DETERMINATION
    OF OFFERING PRICE
36
MARKET
    INFORMATION FOR OUR COMMON STOCK
37
SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
37
SELLING
    STOCKHOLDERS
38
PLAN
    OF DISTRIBUTION
41
DESCRIPTION
    OF CAPITAL STOCK
42
LEGAL
    MATTERS
45
EXPERTS
45
WHERE
    YOU CAN FIND MORE INFORMATION
46
FINANCIAL STATEMENTS
F-1
EXHIBIT
    INDEX
II-4
SIGNATURES
II-5
i
ABOUT
THIS PROSPECTUS
You
should rely only on the information contained in this prospectus or contained in any prospectus supplement or free writing prospectus
filed with the Securities and Exchange Commission, or the SEC. Neither we nor the selling stockholders have authorized anyone
to provide you with additional information or information different from that contained in this prospectus. The selling stockholders
are offering to sell, and seeking offers to buy, shares of our common stock only in jurisdictions where offers and sales are permitted.
You should assume that the information appearing in this prospectus, any related prospectus supplement and any related free writing
prospectus is accurate only as of the respective dates of those documents. Our business, financial condition, results of operations
and prospects may have changed since those dates.
For
investors outside the United States, neither we nor the selling stockholders have done anything that would permit this offering
or possession or distribution of this prospectus, any prospectus supplement or free writing prospectus filed with the SEC, in
any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States
who come into possession of this prospectus, any prospectus supplement or free writing prospectus must inform themselves about,
and observe any restrictions relating to, the offering of the shares of common stock and the distribution of this prospectus,
any prospectus supplement or free writing prospectus outside the United States.
SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
prospectus, including the sections entitled "Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and "Description of Our Business," contains express or implied forward-looking
statements that are based on our management's beliefs and assumptions and on information currently available to our management.
All statements other than statements of historical fact contained in this prospectus, in any related prospectus supplement and
in any related free writing prospectus are forward-looking statements. In some cases, you can identify forward-looking statements
by terminology such as "may," "could," "will," "would," "should,"
"expect," "plan,", "anticipate," "believe," "estimate," "intend,"
"predict," "seek," "contemplate," "project," "continue," "potential,"
"ongoing" or the negative of these terms or other comparable terminology. These forward-looking statements include,
but are not limited to, statements about:
●
our
                                         planned online machine learning platform's ability to improve first-year products
                                         and enable universities to offer timely, popular courses in their own physical facilities,
                                         without becoming software tech companies;
●
our
                                         planned online machine learning platform's ability to result in opportunistic incremental
                                         revenue for colleges and universities, and improved ability to garner state funds due
                                         to increased retention and graduation rates through use of machine learning and natural
                                         language processing;
●
our
                                         ability to obtain additional funds for our operations;
●
our
                                         ability to obtain and maintain intellectual property protection for our technologies
                                         and our ability to operate our business without infringing the intellectual property
                                         rights of others;
●
our
                                         reliance on third parties to conduct our business and studies;
●
our
                                         reliance on third party designers, suppliers, and partners to provide and maintain our
                                         learning platform;
●
our
                                         ability to attract and retain qualified key management and technical personnel;
●
our
                                         expectations regarding the time during which we will be an emerging growth company under
                                         the Jumpstart Our Business Startups Act, or Jobs Act;
●
our
                                         financial performance;
●
the
                                         impact of government regulation and developments relating to our competitors or our industry;
                                         and
●
other
                                         risks and uncertainties, including those listed under the caption "Risk Factors."
These
statements relate to future events or our future operational or financial performance, and involve known and unknown risks, uncertainties
and other factors that may cause our actual results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to
differ materially from current expectations include, among other things, those listed under the section titled "Risk Factors"
and elsewhere in this prospectus, in any related prospectus supplement and in any related free writing prospectus.
Any
forward-looking statement in this prospectus, in any related prospectus supplement and in any related free writing prospectus
reflects our current view with respect to future events and is subject to these and other risks, uncertainties and assumptions
relating to our business, results of operations, industry and future growth. Given these uncertainties, you should not place undue
reliance on these forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read
this prospectus, any related prospectus supplement and any related free writing prospectus and the documents that we reference
herein and therein and have filed as exhibits hereto and thereto completely and with the understanding that our actual future
results may be materially different from any future results expressed or implied by these forward-looking statements. Except as
required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information
becomes available in the future.
This
prospectus, any related prospectus supplement and any related free writing prospectus also contain or may contain estimates, projections
and other information concerning our industry, our business and the markets for our products, including data regarding the estimated
size of those markets and their projected growth rates. Information that is based on estimates, forecasts, projections or similar
methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and
circumstances reflected in this information. Unless otherwise expressly stated, we obtained these industry, business, market and
other data from reports, research surveys, studies and similar data prepared by third parties, industry and general publications,
government data and similar sources. In some cases, we do not expressly refer to the sources from which these data are derived.
ii
PROSPECTUS
SUMMARY
This
summary highlights certain information about us, this offering and selected information contained elsewhere in this prospectus.
This summary is not complete and does not contain all of the information that you should consider before deciding whether to invest
in the securities covered by this prospectus. For a more complete understanding of our company and this offering, we encourage
you to read and consider carefully the more detailed information in this prospectus, any related prospectus supplement and any
related free writing prospectus, including the information set forth in the section titled "Risk Factors" in this
prospectus, any related prospectus supplement and any related free writing prospectus in their entirety before making an investment
decision.
All
references to "Amesite OpCo" herein refer to Amesite Inc., a privately held Delaware corporation, which changed its
name to "Amesite Operating Company". Unless otherwise stated or the context otherwise requires, references to "Amesite,"
the "Company," "we," "our," "us," or similar terms refer to Amesite Inc. and our
wholly-owned subsidiary, Amesite Operating Company. Amesite Operating Company holds all material assets and conducts all business
activities and operations of the Company.
Overview
We
are a development stage artificial intelligence software company targeting the college course market. We are creating a cloud-based
platform for college and university courses to be delivered to learners online and in hybrid online / on campus formats. We plan
to use machine learning to provide a novel, mass customized experience to learners. Our intended customers are universities and
colleges, and we are passionate about improving the learner experience and learner outcomes in college courses, and improving
colleges' ability to create and deliver both. To date, we have not developed a marketable product nor have we generated
any revenues. There can be no assurance that we will ever develop a marketable product or generate revenues. See "Risk Factors."
Our
Strategy
We
will work closely with our customers to deliver college courses, and share the revenue that our customers receive from learners.
We will convert customer content onto our proprietary platform, and use the proprietary data we collect on learner behavior and
responses with their consent, to deliver to learners engaging, effective college courses. We aim to reduce college operating costs,
and improve learner experience and performance. Customers will generate content, admit and enroll learners, approve of assessments,
grading and engagement techniques, and deliver grades and credits to learners. Courses will be branded according to customer norms,
and will be marketed collaboratively, as customer products.
Our
Proprietary Technology
Large,
lecture-based college courses offer the opportunity to collect substantial datasets impractical for instructors to collect, but
highly relevant to individuals' learning experience and outcomes. College instructors are unable to customize delivery of
information based on learners' habits, given their present inability to collect and analyze learners' data. We plan
to implement machine learning algorithms to enable mass customized learning in higher education, freeing instructors from routine
analysis and enabling delivery of information only possible with specific data on behaviors and preferences of individual learners.
Learner data will be collected with learner permission, and information about learner behavior, study preferences and preference
for types of material delivered as part of college courses, will be used to improve learning outcomes and learner experiences.
We will validate algorithms using both offline and online testing.
By
correlating learner behaviors with specific outcomes as identified by qualified instructors, we will train our algorithms specifically
for important college course outcomes, enabling it to be a useful tool for instructors. We believe that the combination of information
that will be collected through our educational products, and outcomes measured using our online learning products will be unique,
and constantly improved.
We
will never sell or distribute our learner data to third parties without the explicit permission of learners. We will not deliver
unwanted content or advertising to learners or to customer personnel. Our proprietary technology is developed solely for purposes
of improving learner experiences and outcomes, and improving the ability of college and university instructors and other staff
to deliver outstanding educational products.
1
Our
Research and Development Programs
We
will use advanced technologies to create effective and accessible higher learning environments. We seek to improve the college
experience by targeting the earliest, foundational, core courses that are required in order for learners to achieve college degrees.
These courses form the building blocks for higher education learning and professional contribution. Our research and development
programs will expand continuously based on learner preferences, outcomes and the desires of our customer colleges and universities.
Some of these will include:
●
Improvements
                                         in learner engagement with cloud-based platforms.
We will continuously gather data
                                         on how learners engage with our platform and other online platforms, and conduct research
                                         and development to create and incorporate useful tools for learning on our platform.
●
Improvements
                                         in instructor experience using our platform.
We will continuously develop tools designed
                                         to improve the ability of our customers to deliver timely and relevant content, deliver
                                         assessments which are fair, correctly represent educational objectives and give repeatable
                                         outcomes when employed on the platform.
●
Algorithms
                                         for optimizing learning products for those pursuing college degrees.
We will conduct
                                         research to improve the efficiency and robustness of our algorithms, employing mixed
                                         models to deliver validated tools. We will use our algorithms to deliver solutions for
                                         seeking courses, determining their transferability, and determining their applicability
                                         toward degrees.
●
Qualification
                                         of information for use by learners at the college level.
We plan to provide both
                                         our customers and our learners with the constantly improving ability to find and integrate
                                         qualified information into products on our platform, and maximize learner ability to
                                         utilize qualified information, contextualized by structured college courses designed
                                         to offer learners the most carefully curated, most relevant, timely and engaging materials
                                         in every discipline in which we offer products.
Risks
Factors
Our
ability to implement our current business strategy is subject to numerous risks, as more fully described in the section titled
"Risk Factors." These risks include, among others, the following:
●
We
                                         have no operating history in online programs and may fail to gain initial customers;
●
We
                                         have not developed a marketable product and we have not generated any revenue since inception.
                                         We cannot assure you that we ever will. We will incur significant losses in launching
                                         products and we may not realize sufficient subscriptions or profits in order to sustain
                                         our business;
●
There
                                         is substantial doubt about our ability to continue as a going concern;
●
Our
                                         business model relies on adequate revenue sharing with colleges and universities, for
                                         online delivery of their courses. If we fail to attract customers, or to negotiate agreements
                                         with them that provide us with sustainable revenue, it will impair our ability to operate
                                         and grow our business;
●
We
                                         will be relying on our customers, which are colleges and universities, to drive enrollment
                                         and revenue;
●
We
                                         will face intense competition, which may cause pricing pressures, decreased gross margins
                                         and loss of market share and may materially and adversely affect our business, financial
                                         condition and results of operations;
●
We
                                         are dependent on the services of certain key management personnel, employees, advisors
                                         and consultants. If we are unable to retain or motivate such individuals or hire qualified
                                         personnel, we may not be able to grow effectively;
●
We
                                         have risk factors within and outside of our control that may inhibit our ability to deliver
                                         products on our platform;
●
We
                                         may have risks related to our financial condition;
●
If
                                         our security measures or those of our future business partners are breached or fail and
                                         result in unauthorized disclosure of data, we could lose customers and/or fail to attract
                                         new customers. Such breach or failure could also harm our reputation and expose us to
                                         protracted and costly lawsuits;
●
We
                                         may have risks related to regulatory requirements;
●
We
                                         may have risks related to managing any growth we may experience;
●
We
                                         face risks and challenges related to any implementation of blockchain technology into
                                         our business to protect user information;
●
We
                                         face additional risks relating to our reliance on blockchain solutions provided by third-parties;
●
The
                                         offering price was arbitrarily determined and you may not be able to sell the securities
                                         you purchase in this offering at the offering price or at any price;
2
●
We
are an "emerging growth company" and are thus, subject to reporting requirements that are less rigorous than the Securities
Exchange Act of 1934 rules for companies that are not "emerging growth companies." Our investors could receive less
information than they might expect to receive from more mature public companies.;
●
There
                                         is currently no market for our common stock and we cannot assure you that any market
                                         will ever develop. You may therefore be unable to re-sell shares of our common stock
                                         at times and prices that you believe are appropriate;
●
Our
                                         common stock may not be eligible for listing or quotation on any securities exchange;
●
The
                                         future issuance of equity or of other securities that are convertible into equity may
                                         dilute your investment and reduce your equity interest;
●
Because
                                         we do not intend to pay dividends, stockholders will benefit from an investment in our
                                         common stock only if it appreciates in value;
●
Our
                                         principal stockholders and management own a significant percentage of our stock and will
                                         be able to exert significant control over matters subject to stockholder approval;
●
Our
                                         Certificate of Incorporation provides that the Court of Chancery of the State of Delaware
                                         is the exclusive forum for certain litigation that may be initiated by our stockholders,
                                         including claims under the Securities Act, which could limit our stockholders'
                                         ability to obtain a favorable judicial forum for disputes with us or our directors, officers
                                         or employees; and
●
Certain
                                         provisions of our Certificate of Incorporation and Delaware law make it more difficult
                                         for a third party to acquire us and make a takeover more difficult to complete, even
                                         if such a transaction were in stockholders' interest.
Private
Placement
On
April 27, 2018 and June 8, 2018, we sold an aggregate of 2,921,145 shares of our common stock pursuant to a private placement
offering, or the Private Placement, at a purchase price of $1.50 per share. In connection with the Private Placement, we agreed
to (i) pay Laidlaw and Company (UK) Ltd., a U.S. registered broker-dealer, or the Placement Agent, a cash commission of 10% of
the gross proceeds raised from investors in the Private Placement introduced by them, and (ii) issue to the Placement Agent, warrants
to purchase that number of shares of common stock equal to 10% of the number of shares of common stock sold to investors in the
Private Placement introduced by them, with a term of five years from the closing date of the Private Placement, and an exercise
price of $1.50 per share, or the Placement Agent Warrants.
As
a result of the foregoing, we paid the Placement Agent an aggregate commission of approximately $438,172 and issued it Placement
Agent Warrants to purchase up to an aggregate of 292,114 shares of our common stock in connection with the Private Placement.
We also reimbursed the Placement Agent $80,000 of expenses incurred in connection with the Private Placement.
Emerging
Growth Company
We
are an "emerging growth company" as defined in the JOBS Act. We could remain an emerging growth company for up to
five years, although circumstances could cause us to lose that status earlier, including if the market value of our common stock
held by non-affiliates exceeds $700.0 million as of the end of our most recently completed second fiscal quarter, if we have total
annual gross revenue of approximately $1.1 billion or more during any fiscal year, or if we issue more than $1.0 billion in non-convertible
debt during any three-year period.
As
an emerging growth company, we may take advantage of specified reduced disclosure and other requirements that are otherwise generally
applicable to public companies. These provisions include:
●
only
                                         two years of audited financial statements in addition to any required unaudited interim
                                         financial statements with correspondingly reduced "Management's Discussion
                                         and Analysis of Financial Condition and Results of Operations" disclosure;
●
option
                                         of delaying the adoption of certain new or revised financial accounting standards;
●
reduced
                                         disclosure about our executive compensation arrangements;
●
no
                                         requirement that we hold non-binding advisory votes on executive compensation or golden
                                         parachute arrangements; and
3
●
exemption
                                         from the auditor attestation requirement in the assessment of our internal control over
                                         financial reporting.
We
have taken advantage of some of these reduced disclosure and other requirements, and thus the information we provide to you may
be different than you might get from other public companies in which you hold shares.
Our
Corporate Information
We
were originally incorporated in the State of Delaware on April 6, 2017 under the name "Lola One Acquisition Corporation."
Prior to the Merger, Lola One was a "shell" company registered under the Securities Exchange Act of 1934, as amended,
or the Exchange Act, with no specific business plan or purpose until it began operating the business of Amesite OpCo through the
Merger on April 27, 2018. Amesite OpCo was originally incorporated in the State of Delaware on November 14, 2017. Amesite OpCo
is a development stage artificial intelligence software company targeting the college course market. Amesite OpCo is creating
a cloud-based platform for college and university courses to be delivered to learners online and in hybrid online / on campus
formats. Immediately after giving effect to the Merger and the initial closing of the Private Placement, the business of Amesite
OpCo became our business.
Our
corporate headquarters is located at 205 East Washington Street, Suite B, Ann Arbor, MI 48104, and our telephone number is (650)
516-7633. We maintain a website at www.amesite.com. Our filings with the SEC will be available free of charge through the website
as soon as reasonably practicable after being electronically filed with or furnished to the SEC. Information contained in our
website is not a part of, nor incorporated by reference into, this prospectus or our other filings with the SEC, and should not
be relied upon.
All
trademarks, service marks and trade names appearing in this prospectus are the property of their respective holders. Use or display
by us of other parties' trademarks, trade dress, or products in this prospectus is not intended to, and does not, imply
a relationship with, or endorsements or sponsorship of, us by the trademark or trade dress owners.
4
THE
OFFERING
Common
    stock offered by selling stockholders
292,114
    shares of common stock
Common
    stock outstanding
13,490,585
shares of common stock
Use
    of proceeds
We
    will not receive any proceeds from the sale of the shares of common stock offered hereby by the selling stockholders.
Offering
    price
The
    selling stockholders may only sell their shares of our common stock pursuant to this prospectus at a fixed price of $1.50
    per share until such time as our common stock is quoted on the OTCBB, or another public trading market for our common stock
    otherwise develops. At and after such time, the selling stockholders may sell all or a portion of their shares through public
    or private transactions at prevailing market prices or at privately negotiated prices.
Risk
    factors
You
    should read the "Risk Factors" section beginning on page 6 of this prospectus for a discussion of factors to consider
    carefully before deciding to invest in shares of our common stock.
Market
    for our common stock
There
    is not now and there has never been any market for our common stock and an active market may never develop. In connection
    with this offering, we have arranged for a broker-dealer to apply to have our common stock quoted on the OTCBB or another
    over-the-counter system. In the future, we intend to seek to have our common stock quoted on a national securities exchange.
    However, we may not be successful in having our common stock quoted on an over-the-counter market or listed on a national
    securities exchange.
The number of shares of common stock outstanding is based on an aggregate of 13,490,585 shares outstanding
as of June 28, 2019, and excludes equity awards exercisable into an aggregate of 1,091,833 shares of our common stock.
5
RISK
FACTORS
Investing
in our common stock involves a high degree of risk. In addition to the other information set forth in this prospectus, you should
carefully consider the risk factors discussed below when considering an investment in our common stock and any risk factors that
may be set forth in any related prospectus supplement, any related free writing prospectus, as well as the other information contained
in this prospectus, any related prospectus supplement and any related free writing prospectus. If any of the following risks occur,
our business, financial condition, results of operations and prospects could be materially and adversely affected. In that case,
the market price of our common stock could decline and you could lose some or all of your investment. Additional risks and uncertainties
not presently known to us or that we currently deem immaterial also may impair our business operations.
Risks
Related to our Business
We
have no operating history in online programs and may fail to gain initial customers.
We
were incorporated in November 2017, and have no operating history in offering online courses. Historically, we have had no assets
other than cash. If our assumptions about market needs are incorrect, we may fail to launch courses and gain initial customers.
Even if we launch courses in a timely manner, our assumptions regarding recovery of upfront costs and growth of revenue may differ
substantially from reality, in which case we will fail to achieve our revenue goals.
We have not developed a marketable
product and we have not generated any revenue since inception. We cannot assure you that we ever will. We will incur significant
losses in launching products and we may not realize sufficient subscriptions or profits in order to sustain our business.
We
have not developed a marketable product and we have not generated any revenue since inception. There can be no assurance that
we will ever develop a marketable product or generate any revenue. We are subject to the substantial risk of failure facing businesses
seeking to develop and commercialize new products and technologies. Should we successfully develop our platform, we will expend
significant capital in launching our first courses. We will also incur substantial accounting, legal and other overhead costs
as a public company. If our courses are unsuccessful, result in insufficient revenue or result in the Company not being able to
sustain revenue, we will be forced to reduce expenses, which may result in an inability to gain new customers.
There
is substantial doubt about our ability to continue as a going concern.
We are in the early
stages of developing our platform and have not completed our efforts to establish a stabilized source of revenue sufficient to
cover our costs over an extended period of time. As of December 31, 2017, June 30, 2018 and March 31, 2019, we had net losses of
$31,465, $490,102 and $948,261, respectively. From November 14, 2017 (being the date of incorporation) through March 31, 2019,
we have incurred net losses of $2,668,924. We have concluded that these conditions raise substantial doubt about our ability to
continue as a going concern. There is uncertainty regarding our ability to implement our business plan and to grow our business
to a greater extent than we can with our existing financial resources without additional financing. Our long-term future growth
and success is dependent upon our ability to raise additional capital and implement our business plan. There is no assurance that
we will be successful in implementing our business plan or that we will be able to generate sufficient cash from operations, sell
securities or borrow funds on favorable terms or at all. Our inability to generate significant revenue or obtain additional financing
could have a material adverse effect on our ability to fully implement our business plan and grow our business to a greater extent
than we can with our existing financial resources.
Our
business model relies on adequate revenue sharing with colleges and universities, for online delivery of their courses. If we
fail to attract customers, or to negotiate agreements with them that provide us with sustainable revenue, it will impair our ability
to operate and grow our business.
We
may not be able to convince colleges and universities that our methods will produce better outcomes than their current approaches
to residential and online courses, in a cost-effective manner. We may also not be able to convince them to dedicate significant
resources to moving courses onto our platform, and gain their trust in operating them collaboratively. If our courses are not
better, or only modestly better than the incumbent versions, we will be unable to grow and gain more customers, which may materially
harm our business.
We
will be relying on our customers, which are colleges and universities, to drive enrollment and revenue.
Factors
within and outside of our control will affect enrollments and include the following:
●
Negative
                                         perceptions about online courses.
Students may reject the opportunity to take courses
                                         online, when residential courses are offered as an option, due to negative perceptions
                                         of online education.
●
Ineffective
                                         marketing efforts.
We will rely on our own and our customers' marketing efforts
                                         to drive enrollment of our online courses. If we or our customers fail to successfully
                                         execute our marketing strategies, we will suffer reduced revenue.
6
●
Damage
                                         to customer reputation.
Our customers' rankings, reputation and marketing efforts
                                         strongly affect enrollments, none of which we control. If we fail to gain customers with
                                         strong, stable reputations and rankings, we will fail to secure courses that have stable
                                         enrollments.
●
Lack
                                         of subscription to our courses.
We do not control the courses required for a degree
                                         by our customers, and if the courses we offer do not build to a degree, enrollments could
                                         suffer.
●
Reduced
                                         enrollment in higher education due to lack of funding.
Significant reductions in
                                         student funding, through grants or loans, would reduce enrollments in courses on our
                                         platform and could adversely affect our business model.
●
General
                                         economic conditions.
Any contraction in the economy could be expected to reduce enrollment
                                         in higher education, whether by reducing funding, reducing corporate allowances for continuing
                                         education, general reductions in employment or savings or other factors. Any of these
                                         could substantially reduce enrollment in courses offered on our platform.
We
will face intense competition, which may cause pricing pressures, decreased gross margins and loss of market share and may materially
and adversely affect our business, financial condition and results of operations.
We
will compete with other online education services companies, and colleges and universities themselves. We expect competition in
our markets to intensify, as new competitors enter the online education market, existing competitors merge or form alliances,
and new technologies emerge. Our competitors may introduce new solutions and technologies that are superior to our platform. Certain
of our competitors may be able to adapt more quickly than we can to new or emerging technologies and changes in customer requirements
or may be able to devote greater resources to the development, promotion and sale of their products than we can.
Increased
competition could also result in pricing pressures, declining average selling prices for our service model, decreased gross margins
and loss of market share. We will need to make substantial investments to develop these enhancements and technologies to our platform,
and we cannot assure investors that we will have funds available for these investments or that these enhancements and technologies
will be successful. If a competing technology emerges that is, or is perceived to be, superior to our existing technology and
we are unable to adapt and compete effectively, our market share and financial condition could be materially and adversely affected,
and our business, revenue, and results of operations could be harmed.
We
are dependent on the services of certain key management personnel, employees, advisors and consultants. If we are unable to retain
or motivate such individuals or hire qualified personnel, we may not be able to grow effectively.
We
depend on the services of a number of key management personnel, employees, advisors and consultants and our future performance
will largely depend on the talents and efforts of such individuals. We do not currently maintain "key person" life
insurance on any of our employees, including members of our management team, and the loss of one or more of such key individuals,
or failure to find a suitable successor, could hamper our efforts to successfully operate our business and achieve our business
objectives. Our future success will also depend on our ability to identify, hire, develop, motivate and retain highly skilled
personnel. Competition in our industry for qualified employees is intense, and our compensation arrangements may not always be
successful in attracting new employees and/or retaining and motivating our existing employees. Future acquisitions by us may also
cause uncertainty among our current employees and employees of the acquired entity, which could lead to the departure of key individuals.
Such departures could have an adverse impact on the anticipated benefits of an acquisition.
We
have risk factors within and outside of our control that may inhibit our ability to deliver products on our platform.
Our
customers will rely on us to deliver a stable platform, with correct measures of performance in a manner that instructors, lecturers,
graduate student assistants and professors can easily use.
Even
if we are successful in delivering a stable platform, our operating results may fluctuate as a result of a number of factors,
many of which are outside of our control. The following factors may affect our operating results:
●
our
                                         ability to compete effectively;
●
our
                                         ability to continue to attract users to our platform;
●
our
                                         ability to attract new customers to our platform;
●
our
                                         ability to attract colleges and universities to our platform;
●
the
                                         mix in our net revenues generated from customers and colleges and universities;
7
●
the
                                         amount and timing of operating costs and capital expenditures related to the maintenance
                                         and expansion of our business, operations and infrastructure;
●
our
                                         focus on long term goals over short-term results;
●
the
                                         results of our investments in risky projects;
●
general
                                         economic conditions and those economic conditions specific to our online courses;
●
our
                                         ability to keep our platform operational at a reasonable cost and without service interruptions;
●
the
                                         success of our geographical and product expansion;
●
our
                                         ability to attract, motivate and retain top-quality employees;
●
foreign,
                                         federal, state or local government regulation that could impede our ability to operate
                                         our platform;
●
our
                                         ability to upgrade and develop our systems, infrastructure and products;
●
new
                                         technologies or services that block our platform and user adoption of these technologies;
●
the
                                         costs and results of litigation that we may face;
●
our
                                         ability to protect our intellectual property rights;
●
our
                                         ability to forecast revenue;
●
our
                                         ability to manage fraud and other activities that violate our terms of services;
●
our
                                         ability to successfully integrate and manage our colleges and universities; and
●
geopolitical
                                         events such as war, threat of war, or terrorist actions.
We
may have risks related to our financial condition.
We
have a history of losses, will need substantial additional funding to continue our operations and may not achieve or sustain profitability
in the future.
Our operations have
consumed substantial amounts of cash since inception. From incorporation through March 31, 2019, we have incurred a net loss of
$2,668,924. We do not expect more than nominal revenues until at least some point during the fiscal year ending June 30, 2020.
If our expectations prove incorrect, our business, operating results and financial condition will be materially and adversely affected.
We anticipate that our operating expenses will increase in the foreseeable future as we continue to pursue the development of our
platform, invest in marketing, sales and distribution of our platform to grow our business, acquire customers, and commercialize
our technology. These efforts may prove more expensive than we currently anticipate, and we may not succeed in generating sufficient
revenues to offset these increased expenses. In addition, we expect to incur significant expenses related to regulatory requirements,
and our ability to obtain, protect, and defend our intellectual property rights.
We
may also encounter unforeseen expenses, difficulties, complications, delays and other unknown factors that may increase our capital
needs and/or cause us to spend our cash resources faster than we expect. Accordingly, we may need to obtain substantial additional
funding in order to continue our operations. We cannot assure you that such additional funding will be available on favorable
terms, or at all.
We
may have risks related to managing any growth we may experience.
We
may engage in future acquisitions that could disrupt our business, cause dilution to our stockholders and harm our financial condition
and operating results.
While
there are currently no specific plans to acquire any other businesses, we may, in the future, make acquisitions of, or investments
in, companies that we believe have products or capabilities that are a strategic or commercial fit with our current business or
otherwise offer opportunities. In connection with these acquisitions or investments, we may:
●
issue
                                         shares of our common stock or other forms of equity that would dilute our existing stockholders'
                                         percentage of ownership;
8
●
incur
                                         debt and assume liabilities; and
●
incur
                                         amortization expenses related to intangible assets or incur large and immediate write-offs.
We
may not be able to complete acquisitions on favorable terms, if at all. If we do complete an acquisition, we cannot assure you
that such acquisition will ultimately strengthen our competitive position or that such acquisition will be viewed positively by
customers, financial markets or investors. Furthermore, future acquisitions could pose numerous additional risks to our expected
operations, including:
●
problems
                                         integrating the purchased business, products or technologies;
●
challenges
                                         in achieving strategic objectives, cost savings and other anticipated benefits;
●
increases
                                         to our expenses;
●
the
                                         assumption of significant liabilities that exceed the limitations of any applicable indemnification
                                         provisions or the financial resources of any indemnifying party;
●
inability
                                         to maintain relationships with prospective key customers, vendors and other business
                                         partners of the acquired businesses;
●
diversion
                                         of management's attention from their day-to-day responsibilities;
●
difficulty
                                         in maintaining controls, procedures and policies during the transition and integration;
●
entrance
                                         into marketplaces where we have limited or no prior experience and where competitors
                                         have stronger marketplace positions;
●
potential
                                         loss of key employees, particularly those of the acquired entity;
●
that
                                         historical financial information may not be representative or indicative of results as
                                         a combined entity; and
●
that
                                         our business and operations would suffer in the event of system failures, and our operations
                                         are vulnerable to interruption by natural disasters, terrorist activity, power loss and
                                         other events beyond our control, the occurrence of which could materially harm our business.
If
our security measures or those of our future business partners are breached or fail and result in unauthorized disclosure of data,
we could lose customers and/or fail to attract new customers. Such breach or failure could also harm our reputation and expose
us to protracted and costly lawsuits.
Our
platform and computer systems store and transmit proprietary and confidential information, that is subject to stringent legal
and regulatory obligations. Due to the nature of our product, we face an increasing number of threats to our platform and computer
systems including unauthorized activity and access, system viruses, worms, malicious code, denial of service attacks, and organized
cyberattacks, any of which could breach our security and disrupt our platform. The techniques used by computer hackers and cyber
criminals to obtain unauthorized access to data or to sabotage computer systems change frequently and generally are not detected
until after an incident has occurred. Our cybersecurity measures or those of our future business partners may be unable to anticipate,
detect or prevent all attempts to compromise our systems or that of our future business partners. Our internal computer systems
and those of our future business partners are or may also be vulnerable to telecommunication and electrical failures, the occurrence
of which could result in material disruptions of our services. If our security measures are breached or fail as a result of third-party
action, employee error, malfeasance or otherwise, we could be subject to liability or our business could be interrupted, potentially
over an extended period of time. Any or all of these issues could harm our reputation, adversely affect our ability to attract
new customers, cause existing customers to scale back their offerings or elect not to renew their agreements, cause prospective
students not to enroll or students to not stay enrolled in our offerings, or subject us to third-party lawsuits, regulatory fines
or other action or liability. Such issues could also cause a delay in the further development of our new technology for on-line
education. Any reputational damage resulting from breach of our systems or disruption of our services could create distrust of
our company by prospective customers. We do not currently have cyber risk insurance. In the event that we obtain one, such insurance
may not be adequate to cover losses associated with such events, and in any case, such insurance may not cover all of the types
of costs, expenses and losses we could incur to respond to and remediate a security breach. As a result, we may be required to
expend significant additional resources to protect against the threat of these disruptions and security breaches or to alleviate
problems caused by such disruptions or breaches.
9
We
may have risks related to regulatory requirements.
On-line
education is subject to ongoing regulatory obligations and review. Maintaining compliance with these requirements may result in
significant additional expense to us and any failure to maintain such compliance could cause our business to suffer.
Noncompliance
with applicable regulations or requirements could subject us to investigations, sanctions, mandatory product recalls, enforcement
actions, disgorgement of profits, fines, damages, civil and criminal penalties, or injunctions. An adverse outcome in any such
litigation could require us to pay contractual damages, compensatory damages, punitive damages, attorneys' fees and other
costs. These enforcement actions could harm our business, financial condition and results of operations. If any governmental sanctions
are imposed, or if we do not prevail in any possible civil or criminal litigation, our business, financial condition and results
of operations could be materially adversely affected. In addition, responding to any action will likely result in a significant
diversion of our management's attention and resources and an increase in professional fees.
We
face risks and challenges related to any implementation of blockchain technology into our business to protect user information.
We
will face certain risks and challenges in implementing the blockchain, including, but not limited to:
●
the
                                         risk of inability to encode data properly;
●
the
                                         risk that institutions will be reluctant or unwilling to embrace the technology and recognize
                                         encoded data;
●
the
                                         risk that the encoding of data in the blockchain will prove unwieldy and therefore less
                                         preferred than traditional methods;
●
uncertainty
                                         in determining how fast an innovative technology will be accepted by the target market,
                                         if at all; and
●
the
                                         risk that the development of blockchain technology could be stifled or otherwise adversely
                                         impacted by regulatory uncertainty.
Additional
Risks Relating to Our Reliance on Blockchain Solutions Provided by Third-Parties.
Because
we do not plan to develop our own blockchain solution at this time, we plan to seek a third-party provider of public or private
blockchain solutions to record course credits attained using our platform. As a result, we face certain risks and challenges related
to being reliant upon blockchain solutions provided by third-parties, including, but not limited to:
●
The
                                         third-party blockchain solutions we utilize might not meet our intended goals of recording
                                         course credits;
●
The
                                         third-party blockchain solutions we utilize might not be customizable to address changing
                                         customer preferences which could limit sales;
●
The
                                         third-party blockchain solutions we utilize might not meet our customer's expectations
                                         which could impact potential sales;
●
The
                                         third-party blockchain solutions we utilize might contain contains bugs or other errors,
                                         defects or security vulnerabilities, that could cause delays which could impact our reputation
                                         and market acceptance of our courses;
●
There
                                         are a limited number of third-party providers of blockchain solutions therefore if our
                                         relationship with a third party provider, is adversely affected for any reason, such
                                         as due to competitive pressures or changes in company strategies and priorities, our
                                         ability to obtain other blockchain solutions on competitive financial terms could be
                                         adversely affected;
●
Public
                                         blockchain solutions are typically more expensive and require more computational power
                                         to run which may increase the cost of third-party blockchain solutions to us; and
●
Private
                                         blockchain solutions are typically less expensive than public blockchain solutions but
                                         are less efficient when individuals outside of the company require access which may be
                                         inconsistent with our intended use of blockchain.
10
Risks Related to our Common Stock and this Offering
The offering price was arbitrarily determined and
you may not be able to sell the securities you purchase in this offering at the offering price or at any price.
The offering price
per share of common stock in this offering does not have any direct relationship to our assets, earnings, book value, or other
measurable criteria of value. See "Determination of Offering Price" for additional details. We make no representations,
whether express or implied, as to the value of the common stock offered hereby. There can be no assurance that the common stock
offered hereby can be sold at either the offering price or any other price in the future.
We are an "emerging growth company"
and are thus, subject to reporting requirements that are less rigorous than Exchange Act rules for companies that are not "emerging
growth companies." Our investors could receive less information than they might expect to receive from more mature public
companies.
We are an "emerging
growth company" as defined in the JOBS Act. For as long as we continue to be an emerging growth company, we may take advantage
of exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies,
including (i) not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act
of 2002, or the Sarbanes-Oxley Act, (ii) having the option of delaying the adoption of certain new or revised financial accounting
standards, (iii) reduced disclosure obligations regarding executive compensation in this prospectus and our periodic reports and
proxy statements, and (iv) exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and
stockholder approval of any golden parachute payments not previously approved. We have elected to use the extended transition
period for complying with new or revised accounting standards under the JOBS Act, which allows us to delay the adoption of certain
new or revised accounting standards. As a result of such election, our financial statements may not be comparable to public companies
that comply with public company effective dates. Because our financial statements may not be comparable to companies that comply
with public company effective dates, investors may have difficulty evaluating or comparing our business, performance or prospects
in comparison to other public companies, which may have a negative impact on the value and liquidity of our common stock.
Additionally, in the
event that we are able to successfully list our common stock on a national securities exchange or any other exchange, or have
our common stock quoted on an over-the-counter trading system in the future, we cannot predict if investors will find our common
stock less attractive because we may rely on the exemptions available to emerging growth companies and/or smaller reporting companies.
If some investors find our common stock less attractive as a result, there may be a less active trading market for our common
stock and the share price of our common stock may be more volatile.
We could remain an
emerging growth company for up to five years, although circumstances could cause us to lose that status earlier, including if
the market value of our common stock held by non-affiliates exceeds $700.0 million as of the end of any completed second fiscal
quarter before that time or if we have total annual gross revenue of approximately $1.1 billion or more during any fiscal year
before that time, or if we issue more than $1.0 billion in non-convertible debt during any three-year period before that time.
Even after we no longer qualify as an emerging growth company, we may still remain a "smaller reporting company" which
would allow us to take advantage of scaled disclosure requirements for smaller reporting companies, including certain of the exemptions
available to emerging growth companies.
There is currently no market
for our common stock and we cannot assure you that any market will ever develop. You may therefore be unable to re-sell shares
of our common stock at times and prices that you believe are appropriate.
Our common stock is
not listed on a national securities exchange or any other exchange, or quoted on an over-the-counter market. Therefore, there
is no trading market, active or otherwise, for our common stock and our common stock may never be included for trading on any
securities exchange, automated quotation system or any over-the-counter market. Accordingly, our common stock is highly illiquid
and you will likely experience difficulty in re-selling such common stock at times and prices that you may desire and without
depressing the market price for the common stock or at all.
Our common stock may not be eligible for listing
or quotation on any securities exchange.
We do not currently
meet the initial quantitative listing standards of any national securities exchange or over-the-counter trading system. We cannot
assure you that we will be able to meet the initial listing standards of any national securities exchange, or, if we do meet such
initial listing standards, that we will be able to maintain any such listing. Further, the national securities exchanges are adopting
so-called "seasoning" rules that will require that we meet certain requirements, including prescribed periods of time
trading over-the-counter and minimum filings of periodic reports with the SEC, before we are eligible to apply for listing on
such national securities exchanges. We have arranged for a registered broker-dealer to apply to have our common stock quoted on
the OTCBB or another over-the-counter system. However, we cannot provide assurance that we will be successful in having our common
stock quoted on an over-the-counter market or listed on a national securities exchange. Even if our common stock is quoted for
sale on an over-the-counter quotation system, buyers may be insufficient in number to allow for a robust market and it may prove
impossible to sell your common stock. In addition, an investor may find it difficult to obtain accurate quotations as to the market
value of our common stock. In addition, if we fail to meet the criteria set forth in SEC regulations, various requirements would
be imposed by law on broker-dealers who sell our securities to persons other than established customers and accredited investors.
Consequently, such regulations may deter broker-dealers from recommending or selling our common stock, which may further affect
its liquidity. This would also make it more difficult for us to raise additional capital.
11
The future issuance of equity
or of other securities that are convertible into equity may dilute your investment and reduce your equity interest.
We may choose to raise
additional capital in the future, depending on market conditions, strategic considerations and operational requirements. To the
extent that additional capital is raised through the issuance of shares of our common stock or other securities convertible into
shares of our common stock, our stockholders' ownership interests in our Company will be diluted. Future issuances of our
common stock, other equity securities or other securities convertible into shares of our common stock or other equity securities,
the exercise of currently outstanding or future options or warrants for our common stock, or the perception that such sales or
exercises may occur, could adversely affect the prevailing market price of our common stock and impair our ability to raise capital
through future offerings of equity or equity-linked securities.
Because we do not intend to
pay dividends, stockholders will benefit from an investment in our common stock only if it appreciates in value.
We have never declared
or paid any cash dividends on our common stock. For the foreseeable future, it is expected that earnings, if any, generated from
our operations will be used to finance the growth of our business, and that no dividends will be paid to holders of our common
stock. As a result, the success of an investment in our common stock will depend upon any future appreciation in its value. There
is no guarantee that our common stock will appreciate in value.
Our principal stockholders
and management own a significant percentage of our stock and will be able to exert significant control over matters subject to
stockholder approval.
Our directors, executive
officers and each of our stockholders who, as of June 28, 2019, owned greater than 5% of our outstanding common stock beneficially
own approximately 69.20% of our common stock. Accordingly, these stockholders have and will continue to have significant influence
over the outcome of corporate actions requiring stockholder approval, including the election of directors, a merger, the consolidation
or sale of all or substantially all of our assets or any other significant corporate transaction. The interests of these stockholders
may not be the same as or may even conflict with our other investors' interests. For example, these stockholders could delay
or prevent a change in control of us, even if such a change in control would benefit our other stockholders, which could deprive
our stockholders of an opportunity to receive a premium for their common stock as part of a sale of the Company or our assets.
The significant concentration of stock ownership may negatively impact the value of our common stock due to potential investors'
perception that conflicts of interest may exist or arise
.
Our Certificate of Incorporation
provides that the Court of Chancery of the State of Delaware is the exclusive forum for certain litigation that may be initiated
by our stockholders, including claims under the Securities Act, which could limit our stockholders' ability to obtain a
favorable judicial forum for disputes with us or our directors, officers or employees.
Our Certificate of
Incorporation provides that the Court of Chancery of the State of Delaware shall, to the fullest extent permitted by law, be the
sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim
for breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders, (iii) any
action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law, our certificate of incorporation
or our bylaws or (iv) any action asserting a claim governed by the internal affairs doctrine. The choice of forum provision may
limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors,
officers, employees or agents, which may discourage such lawsuits against us and our directors, officers, employees and agents.
Stockholders who do bring a claim in the Court of Chancery could face additional litigation costs in pursuing any such claim,
particularly if they do not reside in or near the State of Delaware. The Court of Chancery may also reach different judgments
or results than would other courts, including courts where a stockholder considering an action may be located or would otherwise
choose to bring the action, and such judgments or results may be more favorable to us than to our stockholders. Alternatively,
if a court were to find the choice of forum provision contained in our certificate of incorporation to be inapplicable or unenforceable
in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could adversely
affect our business and financial condition.
Certain provisions of our
Certificate of Incorporation and Delaware law make it more difficult for a third party to acquire us and make a takeover more
difficult to complete, even if such a transaction were in stockholders' interest.
Our Certificate of
Incorporation and the Delaware General Corporation Law contain certain provisions that may have the effect of making it more difficult
or delaying attempts by others to obtain control of our Company, even when these attempts may be in the best interests of our
stockholders. We also are subject to the anti-takeover provisions of the Delaware General Corporation Law, which prohibits us
from engaging in a "business combination" with an "interested stockholder" unless the business combination
is approved in a prescribed manner and prohibits the voting of shares held by persons acquiring certain numbers of shares without
obtaining requisite approval. The statutes and our Certificate of Incorporation have the effect of making it more difficult to
effect a change in control of our Company.
12
DESCRIPTION OF
OUR BUSINESS
Amesite OpCo's History
Amesite OpCo, a corporation
that is developing an artificial intelligence and blockchain-driven online platform that plans to offer degree building courses
for learners, was incorporated in the State of Delaware on November 14, 2017. We acquired the business of Amesite OpCo pursuant
to a merger on April 27, 2018.
On April 27, 2018,
our wholly-owned subsidiary, Lola One Acquisition Sub, Inc., a corporation formed in the State of Delaware, or the Acquisition
Sub, merged with and into Amesite OpCo. Pursuant to this transaction, Amesite OpCo was the surviving corporation and became our
wholly-owned subsidiary. All of the outstanding capital stock of Amesite OpCo was converted into shares of our common stock. As
a result of the Merger, we acquired the operations of Amesite OpCo and continued the existing operations of Amesite OpCo as a
company subject to the Exchange Act periodic reporting requirements under the name Amesite Inc. The Merger was treated as a reverse
recapitalization for our Company for financial reporting purposes. Amesite OpCo is considered the acquirer for accounting purposes,
and our historical financial statements before the Merger have been replaced with the historical financial statements of Amesite
OpCo before the Merger in our subsequent filings with the SEC.
Overview
We have not launched
a marketable product and we have not generated any revenue since inception. We cannot assure you that we will ever develop a marketable
product or generate revenues.
We are a development
stage artificial intelligence software company targeting the college course market. We are creating a cloud-based platform for
college and university courses to be delivered to learners online and in hybrid online / on campus formats. We plan to use machine
learning to provide a novel, mass customized experience to learners. Our intended customers are universities and colleges, and
we are passionate about improving the learner experience and learner outcomes in college courses, and improving colleges'
ability to create and deliver both.
Our Strategy
We
will work closely with our customers to deliver college courses, and share the revenue that our customers receive from learners.
We will convert customer content onto our proprietary platform, and use the proprietary data we collect on learner behavior and
responses with their consent, to deliver to learners engaging, effective college courses. We aim to reduce college operating costs,
and improve learner experience and performance. Customers will generate content, admit and enroll learners, approve of assessments,
grading and engagement techniques, and deliver grades and credits to learners. Courses will be branded according to customer norms,
and will be marketed collaboratively, as customer products.
Our Proprietary Technology
Large, lecture-based
college courses offer the opportunity to collect substantial datasets impractical for instructors to collect, but highly relevant
to individuals' learning experience and outcomes. College instructors are unable to customize delivery of information based
on learners' habits, given their present inability to collect and analyze learners' data. We plan to implement machine
learning algorithms to enable mass customized learning in higher education, freeing instructors from routine analysis and enabling
delivery of information only possible with specific data on behaviors and preferences of individual learners. Much as artificial
intelligence algorithms presently recognize, and respond to natural language on commercial platforms, predict behaviors and deliver
suggestions, our algorithms will assist learners in accessing, utilizing and remaining engaged with course material.
Learner data will
be collected with learner permission, and information about learner behavior, study preferences and preference for types of material
delivered as part of college courses, will be used to improve learning outcomes and learner experiences. We will validate algorithms
using both offline and online testing.
By correlating learner
behaviors with specific outcomes as identified by qualified instructors, we will train our algorithms specifically for important
college course outcomes, enabling it to be a useful tool for instructors. We believe that the combinations of information that
will be collected through our educational products, and outcomes measured using our online learning products will be unique, and
constantly improved.
We will never sell
or distribute our learner data to third parties without the explicit permission of learners. We will not deliver unwanted content
or advertising to learners or to customer personnel. Our proprietary technology is developed solely for purposes of improving
learner experiences and outcomes, and improving the ability of college and university instructors and other staff to deliver outstanding
educational products.
13
We are committed to
protecting the data we collect. Towards this end, we plan to utilize blockchain technology in our online platform. The blockchain
is an electronic ledger created by a decentralized, distributed computing network that is highly resistant to modification of
data. As such, the technology has been used to create cryptocurrencies, with the intention of creating durable, tradeable and
stateless assets. While frequently associated with cryptocurrencies, the blockchain technology has other applications, including
being used to encode and then enable readout of data for business purposes. The blockchain is presently considered to be among
the more secure methods to encode data, and thus offers a means to store important data which can be publicly read out, without
modification of the data set. We intend to utilize the blockchain as a bookkeeping device to store information about learner credentials.
Presently, most universities and colleges in the United States individually manage applications, enrollment, and graduation or
the issuance of non-degree credentials, such as certificates. Transcripts and other records from institutions are issued to students
or former students, or sent directly to other institutions, workplaces, employment agencies, or the government. We believe that
a blockchained database for higher education could deliver efficiencies to both learners and institutions. We will face certain
risks and challenges in implementing the blockchain, including, but not limited to:
●
the risk
                                         of inability to encode data properly;
●
the risk
                                         that institutions will be reluctant or unwilling to embrace the technology and recognize
                                         encoded data;
●
the risk
                                         that the encoding of data in the blockchain will prove unwieldy and therefore less preferred
                                         than traditional methods;
●
uncertainty
                                         in determining how fast an innovative technology will be accepted by the target market,
                                         if at all; and
●
the risk
                                         that the development of blockchain technology could be stifled or otherwise adversely
                                         impacted by regulatory uncertainty.
Key Differences Between Public and Private Blockchain
Solutions
Public Blockchain
The major distinction
between public and private blockchain is related to who is allowed to participate in the network, execute the consensus protocol
and maintain the shared ledger. A public blockchain network is completely open and anyone can join and participate in the network.
The network typically has an incentivizing mechanism to encourage more participants to join the network.
One of the drawbacks
of a public blockchain is the substantial amount of computational power that is necessary to maintain a distributed ledger at
a large scale. More specifically, to achieve consensus, each node in a network must solve a complex, resource-intensive cryptographic
problem called a proof of work to ensure all are in sync.
Public blockchains
are designed to be standalone, in the sense that they eliminate the need for intermediaries in exchanges of assets. Because they
have to be multiply redundant, they can be slower and costlier to operate, but are generally regarded as more secure for the same
reason of redundancy. Public blockchain solutions are most appropriate for decentralized applications similar to how we plan to
use blockchain in our business
Private Blockchain
Private blockchains
use permissioned nodes that must be validated by either the starter of the network or a set of rules put in place by the starter.
Businesses which set up private blockchains, generally set up a permissioned network. This restricts access to the network for
certain transactions. Unlike a public blockchain network which is completely open and anyone can join and participate in the network,
participants need to obtain an invitation or permission to join a private blockchain network. The access control mechanism may
vary such that: existing participants could decide future entrants, a regulatory authority could issue licenses for participation,
or a consortium could make the decisions. Once an entity has joined the network, it will play a role in maintaining the blockchain
in a decentralized manner. Private blockchains are typically faster and less expensive to maintain and manage than public blockchains.
One of the drawbacks
of a private blockchain is only certain members have access within the blockchain. This is useful if there's no need for
anybody outside of the blockchain to become part of the chain, However, we anticipate needing multiple users in the university
setting to have access to transcript data which is one of the potential disadvantages of using a private blockchain solution in
our business
14
Although we are still
in the process of determining whether to utilize private or public blockchain solutions provided by third parties in the context
of our business we believe that a public blockchain solution might be the most appropriate for our business even though public
blockchain solutions are typically slower and more expensive than private blockchain solutions for the following reasons:
●
Given the
                                         cutting edge nature of the blockchain industry it is difficult to find blockchain professionals
                                         to develop private blockchain solutions given the relatively small talent pool and the
                                         general "renegade" nature of the field; and
●
We believe
                                         that there are a sufficient number of qualified contractors we can use, with little/no
                                         risk because we do not require extreme reliability (learners can always pull a transcript
                                         as they would traditionally, from the registrar or transcript office of their university)
                                         the way that data breaches would be handled routinely by big contractors is sufficient.
Internally, we have
not begun work to design or develop blockchain technology; our invention is in the area of utilization of the tool to record transactions
in academia in the public ledger. It is our intention to innovate in the area of use of publicly-validated tools in the conduct
of our business, rather than in creating specialized, private currencies. Given the small role blockchain will play in our overall
business we don't believe the costs associate with utilizing a public or private blockchain solution provided by a third
party will have a material impact on our operations, revenues, if any or capital expenditures.
Our Research and Development Programs
We will use advanced
technologies to create effective and accessible higher learning environments. We seek to improve the college experience by targeting
the earliest, foundational, core courses that are required in order for learners to achieve college degrees. These courses form
the building blocks for higher education learning and professional contribution. Our research and development programs will expand
continuously based on learner preferences, outcomes and the desires of our customer colleges and universities. Some of these will
include:
●
Improvements
                                         in learner engagement with cloud-based platforms
. We will continuously gather data
                                         on how learners engage with us and other online platforms, and conduct research and development
                                         to create and incorporate useful tools for learning on our platform.
●
Improvements
                                         in instructor experience using our platform
. We will continuously develop tools designed
                                         to improve the ability of our customers to deliver timely and relevant content, deliver
                                         assessments which are fair, correctly represent educational objectives and give repeatable
                                         outcomes when employed on our platform.
●
Algorithms
                                         for optimizing learning products for those pursuing college degrees
. We will conduct
                                         research to improve the efficiency and robustness of our algorithms, employing mixed
                                         models to deliver validated tools. We will use our algorithms to deliver solutions for
                                         seeking courses, determining their transferability, and determining their applicability
                                         toward degrees.
●
Qualification
                                         of information for use by learners at the college level
. We plan to provide both
                                         our customers and our learners with the constantly improving ability to find and integrate
                                         qualified information into products on our platform, and maximize learner ability to
                                         utilize qualified information, contextualized by structured college courses designed
                                         to offer learners the most carefully curated, most relevant, timely and engaging materials
                                         in every discipline in which we offer products.
From inception through March 31, 2019, we have spent a total of $150,000 on research and development.
Our Intellectual Property
Our intellectual property
rights may include patent applications, trade secrets, trademark rights, and contractual agreements. Our patent applications are
directed to our proprietary technology, including an artificial intelligence platform for learning, and will seek patent protection
for our designs, development, and related alternatives by filing and prosecuting patent applications in the U.S. and other countries
as appropriate.
We currently have
five pending U.S. patent applications, including one to cover the artificial intelligence platform, and others related to
security, power consumption, blockchain, and other technologies, including methods and systems. Any patent issued from these applications
are expected to expire in 2038, not including any applicable patent term adjustment or extension.
We intend to also
seek trade secret protection for our source codes, methodologies, algorithms, and techniques directed to other aspects of our
artificial intelligence learning platform. We have filed an intent-to-use trademark for AMESITE
TM
with the United
States Patent and Trademark Office. We have also secured domain names, including amesite.com, amesite.co, amesite.net, and others.
We ensure that we
own intellectual property created for us by signing agreements with employees, independent contractors, consultants, companies,
and any other third party that creates intellectual property for us or that assign any intellectual property rights to us. Portions
of our platform may rely upon third-party licensed intellectual property.
We have established
business procedures designed to maintain the confidentiality of our proprietary information, including the use of confidentiality
agreements with employees, independent contractors, consultants and entities with which we conduct business.
15
Competition
The on-line and software
industries for higher education are characterized by rapid evolution of technologies, fierce competition, government regulation,
and strong defense of intellectual property. The overall market for technology solutions that enable higher education providers
to deliver education online is highly fragmented, rapidly evolving and subject to changing technology, shifting needs of learners
and educators and frequent introductions of new methods of delivering education online. While we believe that our platform, programs,
technology, knowledge, experience, and resources provide us with competitive advantages, we face competition from major on-line
companies, academic institutions, governmental agencies, and public and private research institutions, among others.
Any course offering
that we successfully develop and commercialize will compete with current course offerings. Key product features that would affect
our ability to effectively compete with other course offerings include efficiency, security and convenience, and availability.
Our competitors fall primarily into the following groups:
●
Traditional
                                         course offerings in physical facilities; and
●
On-line
                                         course offerings from traditional colleges, universities, or other institutes of higher
                                         education.
Many of the companies,
colleges, or universities against which we may compete have significantly greater financial resources and expertise in education,
software design and development, and have already obtained approvals and marketing approved products. Smaller or early-stage companies
may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies.
These competitors also compete with us in recruiting and retaining qualified engineers, scientists, and management personnel,
as well as in acquiring technologies complementary to, or necessary for, our programs.
We expect that the
competitive landscape will continue to expand as the market for online programs at nonprofit institutions matures. We believe
the principal competitive factors in our market include the following:
●
brand awareness
                                         and reputation;
●
ability
                                         of online programs to deliver desired student outcomes;
●
robustness
                                         and evolution of technology offering;
●
breadth
                                         and depth of service offering;
●
ability
                                         to invest in launching and operating programs;
●
expertise
                                         in program marketing, student acquisition and student retention;
●
quality
                                         of user experience;
●
ease of
                                         deployment and use of solutions;
●
level of
                                         customization, configurability, integration, security, scalability and reliability of
                                         solutions; and
●
quality
                                         of customer base and track record of performance.
Our ability to remain
competitive will depend, to a great extent, upon our ability to consistently deliver high-quality technology solutions for our
learners, meet customer needs for content delivery at reasonable cost, and engage, support and retain learners who achieve high-quality
outcomes.
Government Regulation and Product Approval
The higher education
industry is heavily regulated. Institutions of higher education that award degrees and certificates to signify the successful
completion of an academic program are subject to regulation from three primary entities, namely, the U.S. Department of Education,
or DOE, accrediting agencies, and state licensing authorities. Each of these entities promulgates and enforces its own laws, regulations
and standards, which we refer to collectively as education laws.
We contract with higher
education institutions that are subject to education laws. In addition, we are required to comply with certain education laws
as a result of our role as a service provider to institutions of higher education, either directly or indirectly through our contractual
arrangements with customers. Our failure, or that of our customers, to comply with education laws could adversely impact our operations.
As a result, we work closely with our customers to maintain compliance with education laws.
16
We will abide, as
required, by the education laws, including incentive compensation rule, misrepresentation rule, accreditation rules and standards,
among all state and federal regulations. We also closely monitor state law developments and we will work closely with our customers
to assist them with obtaining any required approvals.
Our activities on
behalf of our customers are also subject to other federal and state laws. These regulations include, but are not limited to, consumer
marketing and unfair trade practices laws and regulations, including those promulgated and enforced by the Federal Trade Commission,
as well as federal and state data protection and privacy requirements.
Sales and Marketing
We plan to implement
a sales and marketing program prior to the launch of our platform. As the platform progresses through development, design, and
testing, we intend to gather information regarding our on-line courses and use such information for marketing and sales of courses
through our platform.
We also intend to
simultaneously develop a branding strategy to introduce and support our platform. The strategy may include our presence at colleges,
universities, and other educational institutions on a national, state, and regional basis to engage and educate users of our products,
as well as engaging in a variety of other direct marketing methods.
We also intend to
develop a small direct sales force together with a distribution network that has existing relationships with colleges, universities,
and other educational institutions.
We have signed a contract
with a first customer, and believe that we will be able to deliver our first product on time by the end of fiscal year ending
June 30, 2019.
Board of Advisors
Dennis Bernard, Chairman of the Board of Advisors
Mr. Bernard is the
founder and President of Bernard Financial Group and Bernard Financial Servicing Group, or BFG. BFG is the largest commercial
mortgage banking firm in Michigan, financing, on average, over $1.0 billion annually. Mr. Bernard has been involved with over
1,200 commercial real estate financial transactions totaling over $18.6 billion. Mr. Bernard specializes in both debt and equity
placement with commercial lenders and institutional joint venture participants.
Gilbert S. Omenn, MD, Ph.D., Member
Dr. Omenn is the Harold
T. Shapiro Distinguished University Professor at the University of Michigan. He also currently chairs the global Human Proteome
Project and serves on the boards of the Center for Public Integrity, the Hastings Center for Bioethics, the Weizmann Institute
of Science in Israel, and biotech companies Esperion, Galectin, and Oncopia Therapeutics. Dr. Omenn previously served on the board
of directors of Amgen, Inc. for 27 years and Rohm & Haas Company for 22 years. He was a member of the Council of the National
Academy of Medicine, or NAM, from 2015 to 2017, and a member of the Scientific Management Review Board for the National Institutes
of Health from 2012 to 2014. Prior to that, Dr. Omenn was the Executive Vice President for Medical Affairs and Chief Executive
Officer, or CEO, of the University of Michigan Health System from 1997 to 2002. From 1977 to 1981, Dr. Omenn was Associate Director
of the White House Office of Science & Technology Policy and Associate Director of the Office of Management and Budget. Prior
to that, Dr. Omenn was a White House Fellow at the Atomic Energy Commission from 1973 to 1974. Dr. Omenn was the President of
the American Association for the Advancement of Science, or AAAS, in 2006 and a member of the advisory board for the AAAS Project
2061 on Science for all Americans from 1986 to 1996. He was elected to NAM in 1978 and the American Academy of Arts & Sciences
in 2001. Dr. Omenn received the David Rogers Award from the Association of American Medical Colleges for contributions to health
and healthcare in 2013.
Elliot Soloway, Ph.D., Member
Dr. Soloway is the
Arthur F. Thurnau Professor of Engineering at the University of Michigan. He is an expert in Artificial Intelligence, or AI, particularly
related to learning and teaching. For the past 17 years, Dr. Soloway and his colleagues at the Center for Highly-Interactive Computing
in Education, or HI-CE, a collaboration between University of Michigan and University of North Texas, have been pioneers in developing
educational technologies and curriculum to support science education in grades K-12. HI-CE has helped teachers and students realize
an unprecedented 15% gain in student achievement on standardized tests.
17
Patricia Mooradian, Member
Ms. Patricia E. Mooradian
has been the President and Chief Operating Officer of The Henry Ford, a premier American history attraction and national historic
landmark, since November 2005, and also serves as its Secretary. Since joining the institution in 2000, Ms. Mooradian has developed
a ten-year strategic plan focusing on increased attendance, new visitor experiences and amenities, new educational products and
benchmark hospitality. In addition, she introduced new tourism and sales initiatives and spearheaded The Henry Ford's brand
development, positioning the institution as a multi-venue, multi-day destination. She introduced The Benson Ford Research
Center to the institution's campus in 2002 and led the unprecedented restoration of Greenfield Village in 2003 and the opening
of the Ford Rouge Factory Tour in 2004. In addition, she executed the planning and development of Henry Ford Museum's Flexible
Gallery and the permanent exhibits, Buckminster Fuller's Dymaxion House: A New Way of Living, Heroes of the Sky and With
Liberty and Justice For All. Through her leadership efforts, the institution has been recognized with several national awards
including two THEA (Themed Entertainment Association) Awards in 2004 for Outstanding Achievement in the Extreme Makeover category,
Greenfield Village and Outstanding Achievement in the Visitor Center category, Ford Rouge Factory Tour; an AIA (American Institute
of Architects) Award of Honor for Sustainable Design, Ford Rouge Factory Tour and a Dibner Award for Excellence in Museum Exhibits,
Heroes of the Sky exhibit in Henry Ford Museum. Prior to joining The Henry Ford, Ms. Mooradian was Regional Director of Marketing
for The Taubman Company, focusing on the strategic positioning for more than a dozen shopping destinations across the United States
in major markets including New York City, Denver, Chicago, Washington D.C. and Detroit. Ms. Mooradian has been Vice Chairman of
the board of directors at Detroit Metro Convention & Visitors Bureau since January 2008. She also previously served as a member
of the board of directors of Crestmark Bank and had been a member of the board of directors of Crestmark Bancorp, Inc. since October
2012. Ms. Mooradian currently serves on the board of directors of Henry Ford Health System Detroit Campus, Arab Community Center
for Economic and Social Services, The Henry Ford Learning Institute, and Michigan Museums Association. Ms. Mooradian is a member
of the advisory councils of the U.S. Cultural & Heritage Tourism Summit Advisory Committee, University of Michigan-Dearborn
Citizens Advisory Council, and the Detroit Regional Chamber's Leadership Policy Conference Committee, and also serves as
a Trustee at The Henry Ford.
Theodore l. Spencer,
Member
Ted Spencer is Senior Advisor on Admissions
Outreach at the University of Michigan. Prior to September 2014, he was Associate Vice Provost and Executive Director of Undergraduate
Admissions. Before joining Michigan in 1989, he was an Associate Director of Admissions at the United States Air Force Academy.
He is a graduate of the Military Air War College and was one of thirty-five Air Force recruiting commanders in the United States.
He is a retired Lieutenant Colonel in the United States Air Force. Early in his career, he was a salesman for the IBM Corporation
in the City of Detroit. Ted has presented at numerous professional conferences statewide, nationally and internationally, and has
written and published articles on the college admissions process. He has received numerous awards, and was recognized as the Point
Man on Diversity Defense for affirmative action in college admissions. He has previously served as a Trustee for the College Board
and on the faculty for the Harvard Summer Institute on College Admissions. Ted holds a MS degree in sociology from Pepperdine University
and a BS in political science from Tennessee State University.
Employees
As of June 27, 2019,
we have eight full-time employees, and six consultants. We intend to hire additional staff and to engage consultants in general
administration on an as-needed basis. We also intend to engage experts in operations, finance and general business to advise us
in various capacities. None of our employees are covered by a collective bargaining agreement, and we believe our relationship
with our employees is good to excellent.
Facilities
Our corporate headquarters
are located in Ann Arbor, Michigan, where we lease approximately 3500 square feet of office space. The lease term for our office
and laboratory space in Ann Arbor, Michigan commenced in November 2017 with an expiration date of May 5, 2019. During March 2019, the lease was extended through May 2022 with monthly payments of $7,942 through
May 2022.
We believe that our
existing facilities are adequate for our current needs. When our lease expires, we may exercise our renewal options or look for
additional or alternate space for our operations. We believe that suitable additional or alternative space will be available in
the future on commercially reasonable terms.
Legal Proceedings
From time to time,
we may be subject to legal proceedings. We are not currently a party to or aware of any proceedings that we believe will have,
individually or in the aggregate, a material adverse effect on our business, financial condition or results of operations.
18
MANAGEMENT'S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
You should
read the following discussion and analysis of our financial condition and results of operations together with our consolidated
financial statements and the related notes and other financial information included in this prospectus. Some of the information
contained in this discussion and analysis or set forth elsewhere in this prospectus, including information with respect to our
plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties as described under
the heading "Special Note Regarding Forward-Looking Statements" elsewhere in this prospectus. You should review the
disclosure under the heading "Risk Factors" in this prospectus for a discussion of important factors that could cause
actual results to differ materially from the results described in or implied by the forward-looking statements contained in the
following discussion and analysis.
Operating Overview
We were incorporated
in November 2017. Amesite OpCo, which was originally incorporated in the State of Delaware on November 14, 2017, is a development
stage artificial intelligence software company targeting the college course market. Amesite OpCo is creating a cloud-based platform
for college and university courses to be delivered to learners online and in hybrid online/on campus formats.
On April 27, 2018,
our wholly-owned subsidiary, Lola One Acquisition Sub, Inc., merged with and into Amesite OpCo, with Amesite OpCo remaining as
the surviving entity and becoming our wholly-owned subsidiary. Prior to the Merger, we were a "shell" company registered
under the Exchange Act, with no specific business plan or purpose. As a result of the Merger, we acquired the operations of Amesite
OpCo and continued the existing operations of Amesite OpCo as a company subject to the Exchange Act.
Following the Merger,
Amesite OpCo changed its name to "Amesite Operating Company" and we adopted Amesite OpCo's former company name,
"Amesite Inc.", as our company name, and changed our fiscal year end from May 31 to June 30. The Merger was treated
as a reverse recapitalization for our Company for financial reporting purposes. Amesite OpCo is considered the acquirer for accounting
purposes, and our historical financial statements before the Merger have been replaced with the historical financial statements
of Amesite OpCo before the Merger in our filings with the SEC.
As the result of the
Merger and the change in our business and operations, a discussion of the past financial results of Lola One is not pertinent,
and under applicable accounting principles the historical financial results of Amesite OpCo, the accounting acquirer, prior to
the Merger are considered the historical financial results of our Company.
The following discussion
highlights our results of operations and the principal factors that have affected our financial condition as well as our liquidity
and capital resources for the period from November 14, 2017, being the date of incorporation of Amesite OpCo, to June 30, 2018,
and provides information that management believes is relevant for an assessment and understanding of the statements of financial
condition and results of operations presented herein. The following discussion and analysis are based on our audited financial
statements contained in this prospectus, which we have prepared in accordance with United States generally accepted accounting
principles, or GAAP. You should read the discussion and analysis together with such financial statements and the related notes
thereto.
Basis of Presentation
The financial statements
contained herein have been prepared in accordance with GAAP and in consideration of SEC requirements.
Our fiscal year ends
June 30. As a result of the change in fiscal year end previously described, the financial statements presented in this prospectus
cover the six months ended June 30, 2018 and the period from November 14, 2017 (being the date of incorporation of Amesite OpCo)
to December 31, 2017.
Critical Accounting Policies and Significant Judgments
and Estimates
The financial statements
contained herein include a summary of our significant accounting policies and should be read in conjunction with the discussion
below.
The preparation of
the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported
in the financial statements. Actual results could differ from these estimates.
19
Overview of Discussion and Analysis
Since Amesite OpCo
was formed on November 14, 2017, there is no comparative period for purposes of analysis. Accordingly, the discussion below covers
the period from November 14, 2017 (date of incorporation) to June 30, 2018.
Results of operations
Three and Nine Months ended March 31, 2019 and Period
November 14, 2017 (date of incorporation) through March 31, 2018
Key Third Quarter Accomplishments
●
Technology development.
We integrated new features into our Gen 2  platform.
●
Product launches.
We launched products on our Gen 2 platform.
●
Partner development.
We announced two new partnerships and plans to launch products.
Revenue
We generated revenues of $2,831 and $3,576
during the three months and nine months ended March 31, 2019.
Operating Costs
Operating expenses
for the three months and nine-months ended March 31, 2019 were $965,318 and $2,174,421, respectively. Operating costs for the periods
primarily reflect payroll and related expenses (stock compensation expense of $152,372 and $454,339 for the three months and nine-months
ended March 31, 2019) and contract services that support the development of our technology platforms.
Operating expenses
for the period November 14, 2017 (date of incorporation) through March 31, 2018 were $144,725 and consisted primarily of general
and administrative expenses in connection with the starting of the business.
Capital Expenditures
During the three months
and nine-months ended March 31, 2019, we had capital asset additions of $161,735 and $769,000, respectively, which were comprised
of $154,817 and $739,510, respectively in capitalized technology and content development, and $6,918 and $29,490 respectively of
property and equipment, including primarily computer equipment, software, furniture and fixtures. The company will continue to
capitalize significant software development costs, comprised primarily of internal payroll, payroll related and contractor costs,
as we build out and complete our technology platforms.
Capital asset additions
of $12,900 were incurred for the period November 14, 2017 (date of incorporation) through March 31, 2018.
Six Months ended June 30, 2018 and Period
from November 14, 2017 (date of incorporation) through December 31, 2017
Overview of Discussion and Analysis
Since Amesite OpCo
was formed on November 14, 2017, there is no comparative period for purposes of analysis. Accordingly, the discussion below covers
the period from November 14, 2017 (date of incorporation) to June 30, 2018.
We have not generated
any revenues since inception. Our operating expenses for the period from November 14, 2017 (date of incorporation) to June 30,
2018 were $521,567.
20
Plan of Operation
Our current plan of
operation includes two initial launches of courses in fiscal year ending June 30, 2019 with our first customer, and possible launches
with a second customer. Our current timeline for achieving such objective is as follows:
Period
Tasks
Costs
Source(s)
        of Funding
Quarter ending September 30, 2018
Completion of a platform site built by internal staff, relying on third party, open-source
    software tools coupled with internally built tools and functionalities. In parallel, we will work with a contract firm to
    construct a full-stack solution for larger launches.
We anticipate spending approximately $1,050,000.
Costs will primarily consist of internal salaries
                                    and contractor salaries.
Funds raised from the Private Placement and the Insider Investment (each as defined herein).
Quarter ending December 31, 2018
Completion and testing of a full-stack platform solution built principally by our contract
    firm, and continued testing and use of our internal platform. We plan to launch our first product either during this quarter
    or the succeeding quarter on either our internally or externally built platform.
We anticipate spending approximately $1,050,000.
Costs will primarily consist of internal salaries
                                    and contractor salaries.
Funds raised from the Private Placement and the Insider Investment.
Quarter ending March 31, 2019
Launch of products on our full-stack platform solution, with continued piloting and testing
    of both platforms in parallel for new and/or potential customers.
We anticipate spending approximately $1,350,000.
Costs required to book sales and produce products
                                    will primarily consist of internal salaries and contractor salaries, as well as cloud storage
                                    and third party software licenses.
Partly from funds remaining from the Private Placement and the Insider Investment, and partly
    from the proceeds of a contemplated equity offering before calendar year 2019 (the "Contemplated Offering").
Quarter ending June 30, 2019
Launch of larger-scale products on our full-stack platform solution, with continued piloting
    and testing of both platforms in parallel for new and/or potential customers.
We anticipate spending approximately $1,350,000.
Costs will primarily consist of internal salaries
                                    and contractor salaries, as well as cloud storage third party software licenses.
Proceeds from the Contemplated Offering.
Although we have one pending patent application for blockchain technology, we have not begun work to design
or develop blockchain technology nor do we have plans to do so in the interim.
Financial position, liquidity, and capital resources
Overview
We are not currently
profitable, and we cannot provide any assurance that we will ever be profitable. We incurred a net loss of $948,261 and $2,147,357
for the three months and nine-months ended March 31, 2019, and we incurred a net loss of $144,725 for the period from November
14, 2017 (date of incorporation) to March 31, 2018.
During the period from
November 14, 2017 (date of incorporation) to June 30, 2018, we raised net proceeds of $4,809,546 from private equity financing
transactions. As of March 31, 2019, our cash balance totaled $2,092,022.
At present, we believe
that our cash balances should be sufficient to satisfy our anticipated operating and investing needs through July, 2019. However,
it is possible that we will choose to accelerate our plan of operations in order to attract and sign more customers or to support
current customers, and that we will require more funds than we currently have available to meet those needs.
21
Cash Flows
The following table
shows a summary of our cash flows for the periods ended March 31, 2019 and June 30, 2018.
Nine Months
Ended
March 31,
2019
Period from
November 14, 2017
(date of  incorporation)
to June 30,
2018
Net cash used in operating activities
$
(1,412,029
)
$
(150,575
)
Net cash used in investing activities
(769,000
)
(196,318
)
Net cash used in financing activities
(1,065
)
4,621,009
Net Decrease in cash
$
(2,182,094
)
$
4,274,116
Cash – Beginning of period
$
4,274,116
$
-
Cash – End of period
$
2,092,022
$
4,274,116
Funding requirements
We expect that our
primary uses of capital will be the development of our artificial intelligence software, course offerings and for general and working
capital. We believe our cash balance will be sufficient to meet our anticipated cash requirements through July 2019. However, in
the event we accelerate our plan of operations and we attract new customers at a faster rate than anticipated, we may not have
sufficient cash and we may require additional capital for the further development of our products and to meet our customers'
needs. Until such time, if ever, we generate product revenue, we expect to finance our cash needs through a combination of public
or private equity offerings, debt financings and research collaboration and license agreements. We may be unable to raise capital
or enter into such other arrangements when needed or on favorable terms or at all. Our failure to raise capital or enter into such
other arrangements as and when needed would have a negative impact on our financial condition and our operations and necessitate
the reevaluation of our future operating plans.
22
Our forecast of the
period of time through which our financial resources will be adequate to support our operations is a forward-looking statement
that involves risks and uncertainties, and actual results could vary materially as a result of a number of factors. We have based
this estimate on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we currently
expect. Our future capital requirements are difficult to forecast and will depend on many factors, including:
●
the timing
                                         of our costs incurred in connection with the launch of new programs and the delay in
                                         receiving revenue from these new programs, which delay may last for several years;
●
seasonal
                                         variation driven by the schedules for our customers' programs, which may vary from
                                         year to year;
●
changes
                                         in the student enrollment and retention levels in our customers' programs from
                                         one term to the next;
●
changes
                                         in our customers' tuition rates;
●
the timing
                                         and amount of our program marketing and sales expenses;
●
changes
                                         in the prospects of the economy generally, which could alter current or prospective customers'
                                         or students' spending priorities, or could increase the time it takes us to launch
                                         new customer programs; and
●
Our operating
                                         results may fall below the expectations of market analysts and investors in some future
                                         periods, which could cause the market price of our common stock to decline substantially.
Due to the "early
stage" nature of our business, we expect to incur losses in the short-term. Our continuation as a going concern is dependent
on our ability to establish ourselves as a profitable business. To date, our cash flow requirements have been met by equity financings.
We will need to raise additional capital in order to meet our obligations and execute our business plan. There is no assurance
that additional equity financing will be available when needed or that our management will be able to obtain such financing on
terms acceptable to us or that we will become profitable and generate positive cash flow in the future. If we are unable to raise
sufficient additional funds, we will have to develop and implement a plan to extend payables, reduce overhead or scale back our
business plan until sufficient capital is raised to support further operations. There can be no assurance that such a plan will
be successful.
Please see the section
entitled "Risk Factors" in this prospectus for additional risks associated with our substantial capital requirements
and our ability to continue as a going concern.
Contractual obligations
The following table
provides a listing of our significant contractual obligations as of March 31, 2019 and June 30, 2018:
Payments Due by Period As of March 31, 2019
Contractual Obligations
Total
Less than 1 Year
1-3 Years
3-5 Years
More than 5 Years
Operating lease obligations(1)
$
289,645
$
19,617
$
270,028
$
—
$
Total
$
289,645
$
19,617
$
270,028
$
—
$
(1)
Future
minimum lease payments under operating lease for our current office space in Ann Arbor, Michigan that expires May 5, 2022. We
have no long-term debt obligations, capital lease obligations or purchase obligations.
Payments Due by Period As of June 30, 2018
Contractual Obligations
Total
Less than 1 Year
1-3 Years
3-5 Years
More than 5 Years
Operating lease obligations(1)
$
37,333
$
37,333
$
—
$
—
$
Total
$
37,333
$
37,333
$
—
$
—
$
(1)
Future
                                         minimum lease payments under operating lease for our current office space in Ann Arbor,
                                         Michigan that expires May 5, 2019. We have no long-term debt obligations, capital lease
                                         obligations or purchase obligations.
23
We enter into agreements
in the normal course of business with contractors and vendors, and other services and products for operating purposes, which are
cancelable at any time by us, generally upon 30 days prior written notice.
Off-Balance Sheet Arrangements
As at March 31, 2019 and June 30, 2018,
we did not have, and we do not currently have, any off-balance sheet arrangements.
Related Party Transactions
For a description
of our related party transactions, see "Certain Relationships and Related Party Transactions."
Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure
Effective at the Effective
Time of the Merger, Raich Ende Malter & Co. LLP, was dismissed as the independent registered public accounting firm that audits
the financial statements of our Company. The decision to dismiss Raich Ende Malter & Co. LLP was approved by our board of
directors. Effective as of the Effective Time, our board of directors engaged Deloitte & Touche LLP, as the independent registered
public accounting firm to audit the Company's financial statements for the fiscal year ending June 30, 2018.
Raich Ende Malter
& Co. LLP's audit report on our financial statements for the period from April 6, 2017 (Lola One Acquisition Corporation's
inception) through May 31, 2017 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified
as to uncertainty, audit scope or accounting principles except that the report dated June 26, 2017 contained statements indicating
there is substantial doubt about the Company's ability to continue as a going concern.
During the period
from April 6, 2017 through May 31, 2017 and the subsequent interim period through the date of Raich Ende Malter & Co. LLP's
dismissal, there were no disagreements with Raich Ende Malter & Co. LLP on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Raich
Ende Malter & Co. LLP would have caused it to make reference to the subject matter thereof in connection with its report.
During the period
from April 6, 2017 through May 31, 2017 and the subsequent interim period through the date of Raich Ende Malter & Co. LLP's
dismissal, neither the Company nor anyone acting on its behalf consulted Deloitte & Touche LLP regarding the application of
accounting principles to a specified transaction, either completed or proposed or the type of audit opinion that might be rendered
on the Company's financial statements.
We have provided Raich
Ende Malter & Co. LLP with a copy of this report prior to the filing hereof and have requested that Raich Ende Malter &
Co. LLP furnish to us a letter addressed to the SEC stating whether it agrees with the statements made by us in this report. Raich
Ende Malter & Co. LLP has furnished such letter, which letter is filed as Exhibit 16.1 hereto, as required by Item 304(a)(3)
of Regulation S-K.
DIRECTORS AND
EXECUTIVE OFFICERS
The following table sets forth the names
and certain information regarding each of our directors and executive officers as of June 27, 2019:
NAME
POSITION(S)
AGE
Ann Marie Sastry, Ph.D. (3) (4)
Chief Executive Officer,
    Director
51
Rick DiBartolomeo (5)
Chief Financial Officer
60
Jay Majumdar
Vice President of Partnerships
50
J. Michael Losh (1) (3)
Director
72
Edward H. Frank, Ph.D. (2) (3)
Director
62
Richard Ogawa (2) (3)
Director
56
Anthony M. Barkett (1) (2) (3)
Director
53
(1)
Member of the audit
                                         committee.
(2)
Member of the compensation
                                         committee.
(3)
The entire board
                                         of directors serves as the nominating and corporate governance committee.
(4)
Chairman of the
                                         board of directors.
(5)
Effective as of
                                         November 12, 2018, Mr. DiBartolomeo was appointed as our Chief Financial Officer.
24
Executive Officers
Ann Marie Sastry, Ph.D., Chief Executive Officer
and Chairman of the board of directors
Dr. Sastry is President
and Chief Executive Officer of Amesite, since its incorporation in November 2017. From April 2008 to October 2015, Dr. Sastry
served as the President, Chief Executive Officer, member of the board of directors and co-founder of Sakti3, recognized as one
of the Massachusetts Institute of Technology's 50 Smartest Companies in 2015 and as a Crain's Detroit Business Cool
Places to Work winner in 2017. Backed by a global team of venture capitalists Sakit3 was sold to Dyson Ltd. in 2015 for $90 million.
Dr. Sastry was invited to the White House in 2015 to be recognized for her technology entrepreneurship, and meet with President
Barack Obama. Her technology and business work have been featured in the WSJ, Fortune, Forbes, the Economist, USA Today, the New
York Times and on the cover of Inc.
Prior to starting
her companies, Dr. Sastry was a professor of engineering at the University of Michigan, which is ranked among top 5 public universities
in the nation. Dr. Sastry was named an Arthur F. Thurnau Professor (UM's highest teaching honor) in 2008. Tenured and promoted
early, Sastry was recognized with some of the highest honors in her scientific fields over her 17 year academic career, including
the ASME Frank Kreith Energy Award (2011) and NSF's Presidential Early Career Award for Scientists and Engineers (1997).
She founded two academic research centers in intracellular signaling (Keck Foundation) and advanced automotive batteries (GM /
Department of Energy), and a global graduate program in Energy Systems Engineering. She has co-authored over 100 publications
and 100 patents and filings, and has delivered over 100 invited lectures and seminars globally on a range of scientific and technology
topics, spanning mathematics, physics, bioscience and battery technology. Sastry is active in philanthropy and business mentorship,
with a focus on education and poverty alleviation. She holds PhD and MS degrees from Cornell University, and a BS from the University
of Delaware, all in mechanical engineering.
We believe that Dr.
Sastry's experience working with successful companies and her experience in education qualifies her to serve on our board
of directors.
Rick DiBartolomeo, Chief Financial Officer
Mr. DiBartolomeo was
appointed to serve as our Chief Financial Officer with an effective date of November 12, 2018. From January 1982 to October 2007,
Mr. DiBartolomeo served as a Partner at Deloitte & Touche, LLP. From October 2007 to March 2010, Mr. DiBartolomeo served as
Principal in Charge of Assurance and Advisory Services for the Southeastern Michigan offices of The Rehmann Group. From April
2010 to June 2012, Mr. DiBartolomeo served as Executive Director for the Rick Snyder for Michigan Committee. From June 2012 to
October 2014, Mr. DiBartolomeo served as Administrator-Defined Contributions, Trust & Agencies Division for the State of Michigan.
From October 2014 to January 2016, Mr. DiBartolomeo served as Chief Financial Officer-Unemployment Insurance Agency of the State
of Michigan. Since May 2016, Mr. DiBartolomeo has been providing part time CFO consulting services to small and mid-size companies.
Jay Majumdar, Vice
President of Partnerships
Mr.
Majumdar was appointed to serve as our Vice President of Partnerships with an effective date of April 18, 2019. From March 2018
to March 2019, Mr. Majumdar served as a Vice President Sales at Digimind, LLP.  From Feb 2014 to March 2018, Mr. Majumdar
served as Vice President Sales at Dentsu Aegis- ICUC. From April 2009 to June 2014, Mr. Majumdar served as Global Vice President
of Sales at Crisp thinking, Inc.  From June 2000 to April 2009, Mr. Majumdar served as Chief Sales Officer for the Super
Computer Inc.
Non-Employee Directors
J. Michael Losh, Director
Mr. Losh has served
as a member of Amesite OpCo's board of directors since February 2018. Mr. Losh served as the Chief Financial Officer at
Cardinal Health from July 2004 to May 2005. Mr. Losh was with General Motors from 1964 to 2000. He served as the Chief Financial
Officer and Executive Vice President of General Motors Corp., the world's largest vehicle manufacturer, from July 1994 to
August 2000. He is the Chairman of the Board of Masco Corp. (2015-present), and Director at Aon PLC (2003-present), HB Fuller
Co (2001-present), and Prologis, Inc. (2012-present). Mr. Losh has served as a director of AMB Corp., Cardinal Health Inc., Care
Fusion Inc., Electronic Data Systems Corp., Delphi Automotive Systems Corp., Hughes Electronics, Quaker Oats Company, and TRW
Automotive Inc. He served as Chairman of the boards of GMAC and Metaldyne Corp. Mr. Losh holds a B.S. in Mechanical Engineering
from Kettering University and an M.B.A. from Harvard University. We believe that Mr. Losh's public company experience qualifies
him to serve on our board of directors.
Dr. Edward H. Frank, Ph.D., Director
Dr. Edward H. Frank
is presently co-founder and CEO of Brilliant Lime, Inc., a very early-stage technology development startup. Previously, he was
co-founder and CEO of Cloud Parity Inc., a voice-of-the-customer startup in the San Francisco Bay Area, founded in late 2013.
From 2009 through 2013, he was Vice President of Macintosh Hardware Systems Engineering at Apple, Inc. where he led the development
of four generations of Macintosh laptop and desktop computers. Before joining Apple, he was Corporate Vice President of Research
and Development at Broadcom, where he was responsible for Broadcom's overall engineering execution and played a key role
in corporate business and IP strategy. Prior to becoming Corporate VP of Research and Development, Dr. Frank co-founded and led
the engineering group for Broadcom's Wireless LAN business, which is now one of Broadcom's largest business units.
Dr. Frank joined Broadcom in May 1999 following its acquisition of Epigram, Inc., where he was the founding CEO and Executive
Vice President. From 1993 to 1996, he was a co-founder and Vice President of Engineering of NeTpower, Inc., a computer workstation
manufacturer. From 1988 to 1993, Dr. Frank was a Distinguished Engineer at Sun Microsystems, Inc., where he co-architected several
generations of Sun's SPARCstations and was a principal member of Sun's Green Project, which developed the precursor
to the Java cross-platform web programming language. Dr. Frank holds over 50 issued patents. He presently serves on the boards
of directors of Analog Devices (ADI), Cavium (CAVM), Quantenna (QTNA), and eASIC, and is an advisor to several Bay Area venture
capital firms and startups. Dr. Frank holds BSEE and MSEE degrees from Stanford University. He received a Ph.D. in computer science
from Carnegie Mellon University, where he was a Hertz Foundation Fellow. In 2018, he was elected to the National Academy of Engineering
for his contributions to the development and commercialization of wireless systems. Dr. Frank has been a Trustee of Carnegie Mellon
University since 2000 and is currently a Vice-Chairman of its Board of Trustees. Dr. Frank is also the Executive Director (pro
bono) of Metallica's All Within My Hands Foundation, and is the founder and vintner of Compass Vineyards, in Napa California,
a boutique producer of 100% estate grown Cabernet Sauvignon. We believe that Dr. Frank's public company experience qualifies
him to serve on our board of directors.
25
Richard Ogawa, J.D., Director
Mr. Ogawa has served
as a member of Amesite OpCo's board of directors since February 2018. Mr. Richard T. Ogawa has been General Counsel at Inphi
Corporation, responsible for overseeing legal matters as well as corporate, intellectual property, and government affairs. Mr.
Ogawa is a Registered United States Patent Attorney and a Member of the California State Bar with more than 25 years of experience
specializing in technology companies. Prior to Inphi, he was a Partner at Townsend and Townsend, a law firm focused on intellectual
property. He is the founder and owner of Ogawa Professional Corporation, his own law firm, focusing on venture backed startup
companies. He is General Counsel for Soraa Laser Diode, Inc., a venture funded company by Khosla Ventures, and is General Counsel
for MCube, Inc. a venture funded company by Kleiner Perkins Caufield & Byers. He has also held a variety of engineering and
management positions at NEC Electronics. He is a Charter Member of the Indus Entrepreneur Group (TIE) and had been a member of
the boards of the Asian Law Alliance, American Intellectual Property Law Association, and others. Mr. Ogawa also served as a Partner
Member for Technology Group 2800 of the United States Patent and Trademark Office. He received a B.S. in Chemical Engineering
from the University of California, Davis in 1984, and a J.D. from McGeorge School of Law, University of Pacific in 1991. We believe
that Mr. Ogawa's experience as an attorney and his patent expertise qualifies him to serve on our board of directors.
Anthony M. Barkett, J.D., Director
Mr. Barkett has served
as a member of Amesite OpCo's board of directors since February 2018. Mr. Barkett is a California- based real estate developer.
He holds Bachelor of Arts degrees in Economics and Political Science from the University of California at Los Angeles, as well
as a Juris Doctor degree from the University of the Pacific McGeorge School of Law. Mr. Barkett practiced law from 94-2003 specializing
in land use, affordable housing and government relations. He is currently the managing member of several LLC's which developed
and now own and manage commercial real estate in CA, Arizona and Hawaii. He is the managing member of Oliveto, LLC which farms
and manages olive and walnut orchards in Linden, CA. He is the CEO of Trinity Solar and managing member of Affordable Energy Partners,
LLC which built and still owns and manages solar systems throughout CA. In 2013 he was appointed by Governor Jerry Brown to the
California Citizens Compensation Commission, a State commission that sets compensation for the legislature. He is a board member
and has been for 17 years of the Downtown Stockton Alliance which is a property owner based 501c 3 organized to promote and restore
downtown Stockton, He is a political consultant for Stockton East Water District and has held this position for 20 years. In 2016,
He was a co-founder of Ready to Work a 501 c3 corporation formed to help homeless and previously incarcerated men get paid work,
job training and permanent housing.
We believe that Mr.
Barkett's non-profit experience qualifies him to serve on our board of directors.
Involvement in certain legal proceedings.
None of the following
events has occurred during the past ten years and which are material to an evaluation of the ability or integrity of any director
or executive officer:
(1) A petition under the federal
bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed
by a court for the business or property of such person, or any partnership in which he was general partner at or within two years
before the time of such filing, or any corporation or business association of which he was an executive officer at or within two
years before the time of such filing;
(2) Such person was convicted
in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor
offenses);
(3) Such person was the subject
of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently
or temporarily enjoining him from, or otherwise limiting, the following activities:
(i)
Acting as a
                                         futures commission merchant, introducing broker, commodity trading advisor, commodity
                                         pool operator, floor broker, leverage transaction merchant, any other person regulated
                                         by the Commodity Futures Trading Commission, or an associated person of any of the foregoing,
                                         or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated
                                         person, director or employee of any investment company, bank, savings and loan association
                                         or insurance company, or engaging in or continuing any conduct or practice in connection
                                         with such activity;
26
(ii)
Engaging in
                                         any type of business practice; or
(iii)
Engaging
                                         in any activity in connection with the purchase or sale of any security or commodity
                                         or in connection with any violation of federal or state securities laws or federal commodities
                                         laws;
(4) Such person was the subject
of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring,
suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph
(3)(i) above, or to be associated with persons engaged in any such activity;
(5) Such person was found by
a court of competent jurisdiction in a civil action or by the SEC to have violated any Federal or state securities law, and the
judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended, or vacated;
(6) Such person was found by
a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal
commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently
reversed, suspended or vacated;
(7) Such person was the subject
of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
suspended or vacated, relating to an alleged violation of:
(i)
Any federal
                                         or state securities or commodities law or regulation; or
(ii)
Any law or
                                         regulation respecting financial institutions or insurance companies including, but not
                                         limited to, a temporary or permanent injunction, order of disgorgement or restitution,
                                         civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition
                                         order; or
(iii)
Any law or
                                         regulation prohibiting mail or wire fraud or fraud in connection with any business entity;
                                         or
(8) Such person was the subject
of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization,
any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its
members or persons associated with a member.
Board Composition
All of our directors
will hold office until their successors have been elected and qualified or appointed or the earlier of their death, resignation
or removal. Executive officers are appointed and serve at the discretion of the board of directors.
We have a staggered
board. Our directors are divided into three classes, designated as Class I, consisting of two directors, Class II, consisting
of one director, and Class III, consisting of two directors, with no more than one class eligible for re-election at any annual
stockholder meeting. The two Class I directors were initially elected for a term expiring on the date of our 2018 annual stockholder
meeting and at that meeting were elected to serve a new term of three years. The Class II director has been initially elected
for a term expiring on the date of our 2019 annual stockholder meeting and thereafter will be elected to serve terms of three
years. The two Class III directors have been initially elected for a term expiring on the date of our 2020 annual stockholder
meeting. The division of our board of directors into three classes with staggered three year terms after the initial term may
delay or prevent a change of our management or a change in control.
The following table
sets forth the names and classes of our directors:
Class I directors
Class II director
Class III directors
J. Michael Losh
Ann Marie Sastry
Anthony Barkett
Richard Ogawa
Dr. Edward H. Frank
Director Independence
Our securities are
not listed on a national securities exchange or on any inter-dealer quotation system, which has a requirement that a majority
of directors be independent. We evaluate independence by the standards for director independence set forth in the NASDAQ Marketplace
Rules and the rules and regulations of the SEC. Under such rules, our board of directors has determined that other than Dr. Sastry
and Mr. Ogawa, the other members of our board of directors are independent directors. In making such independence determination,
our board of directors considered the relationships that each non-employee director has with us and all other facts and circumstances
that our board of directors deemed relevant in determining their independence, including the beneficial ownership of our capital
stock by each non-employee director. In considering the independence of the directors, our board of directors considered the association
of our directors with the holders of more than 5% of our common stock. We expect to transition the composition and functioning
of our board of directors and each of our committees to comply with all applicable requirements of the NASDAQ Stock Market and
the rules and regulations of the SEC. There are no family relationships among any of our directors or executive officers.
27
Board Diversity
Our nominating and
corporate governance committee will be responsible for reviewing with the board of directors, on an annual basis, the appropriate
characteristics, skills and experience required for the board of directors as a whole and its individual members. In evaluating
the suitability of individual candidates (both new candidates and current members), the nominating and corporate governance committee,
in recommending candidates for election, and the board of directors, in approving (and, in the case of vacancies, appointing)
such candidates, will consider many factors, including the following:
●
diversity
                                         of personal and professional background, perspective and experience;
●
personal
                                         and professional integrity, ethics and values;
●
experience
                                         in corporate management, operations or finance, such as serving as an officer or former
                                         officer of a publicly held company, and a general understanding of marketing, finance
                                         and other elements relevant to the success of a publicly-traded company in today's
                                         business environment;
●
experience
                                         relevant to our industry and with relevant social policy concerns;
●
experience
                                         as a board member or executive officer of another publicly held company;
●
relevant
                                         academic expertise or other proficiency in an area of our operations;
●
practical
                                         and mature business judgment, including ability to make independent analytical inquiries;
●
promotion
                                         of a diversity of business or career experience relevant to our success; and
●
any other
                                         relevant qualifications, attributes or skills.
Currently, our board
of directors evaluates each individual in the context of the board of directors as a whole, with the objective of assembling a
group that can best maximize the success of the business and represent stockholder interests through the exercise of sound judgment
using its diversity of experience in these various areas.
Standing Committees of the Board of Directors
We have three standing committees: the Audit Committee, the
Compensation Committee and the Nominating and Governance Committee. The current members of the committees are identified in the
following table.
Director
Audit Committee
Compensation Committee
Nominating and Governance Committee
Ann Marie Sastry, Ph.D.
—
—
X
J. Michael Losh
X*
—
X
Edward Frank, Ph.D.
X
X
X
Richard Ogawa
X*
X
Anthony Barkett
X
X
X
*
Indicates chair of
                                         the committee.
28
Audit committee
The Audit Committee
of our Board of Directors currently consists of Mr. Losh, Dr. Frank and Mr. Barkett.  Mr. Losh serves as chair of the
committee. All members of our Audit Committee meet the requirements for financial literacy under applicable SEC and NASDAQ rules.
Our Board of Directors has determined that Mr. Losh qualifies as an "audit committee financial expert" under applicable
SEC rules and has the financial sophistication required under applicable NASDAQ rules. Our Board of Directors also determined
that all members of the Audit Committee are independent directors under applicable SEC and NASDAQ rules, including Section 10A
of the Exchange Act. The Audit Committee operates under a charter. The purpose of the Audit Committee is to oversee our accounting
and financial reporting processes and the audits of our financial statements. This committee's responsibilities include,
among other things:
●
appointing our independent registered public accounting firm;
●
reviewing the qualifications, independence and quality control procedures of our independent
    auditor and the experience and qualifications of the independent auditor's senior personnel;
●
evaluating the performance of our independent registered public accounting firm;
●
approving the audit and non-audit services to be performed by our independent registered public
    accounting firm;
●
establishing procedures for the receipt, retention and treatment of complaints we receive
    regarding accounting, internal accounting controls or auditing matters;
●
discussing with management and the independent registered public accounting firm the results
    of our annual audit and the review of our quarterly unaudited financial statements;
●
determining, based upon review of the annual audit and review of our annual financial statements,
    whether to recommend to the Board of Directors that the audited financial statements be included in the Company's Annual
    Report on Form 10-K for the fiscal year subject to the audit;
●
reviewing, overseeing and monitoring the integrity of our financial statements and our compliance
    with legal and regulatory requirements as they relate to financial statements or accounting matters;
●
discussing with our internal counsel or outside counsel any legal matters brought to the attention
    of the Audit Committee that could reasonably be expected to have a material impact of our financial statements;
●
preparing the report with respect to our audited financial statements that the SEC requires
    for inclusion in each of our annual proxy statements;
●
reviewing and approving any related party transactions on an ongoing basis;
●
reviewing and reassessing, at least annually, our Audit Committee charter and submitting any
    recommended changes to the Board of Directors for its consideration; and
●
reviewing and evaluating, at least annually, the performance of the Audit Committee and its
    members including compliance of the audit committee with its charter.
Compensation committee
The Compensation Committee
of our Board of Directors currently consists of Mr. Ogawa, Dr. Frank and Mr. Barkett. Mr. Barkett serves as chair of the committee.
Our Board of Directors has determined that all members of the Compensation Committee, other than Mr. Ogawa, are independent directors
under applicable NASDAQ rules. The purpose of the Compensation Committee is to discharge the responsibilities of our Board of
Directors relating to compensation of our executives. Pursuant to the Compensation Committee's charter, it may delegate
any of its responsibilities, along with the authority to take action related to the delegated responsibilities, to a subcommittee
consisting of at least one member of the Compensation Committee. However, any delegation by the Compensation Committee may only
be to the extent that it is consistent with the Internal Revenue Code, as amended (the "Code"), and with applicable
laws, regulations and NASDAQ listing rules. The committee's responsibilities include, among other things:
●
reviewing
                                         and approving corporate goals and objectives relevant to the compensation of the chief
                                         executive officer;
●
evaluating
                                         the performance of our chief executive officer in light of such corporate goals and objectives
                                         and approving the compensation of the chief executive officer;
●
reviewing
                                         and approving the compensation of our other executive officers;
●
reviewing
                                         the compensation, welfare, benefit and pension plans and similar plans;
●
reviewing
                                         and making recommendations to the board of directors with respect to director compensation;
                                         and
●
preparing
                                         for inclusion in the proxy statement the report, if any, of the compensation committee
                                         required by the SEC.
The compensation committee
will have the power to investigate any matter brought to its attention within the scope of its duties and will have the authority
to retain counsel and advisors to fulfill its responsibilities and duties.
29
Nominating and corporate governance committee
Due to the size and
structure of the Company, we do not have a designated nominating and corporate governance committee. The entire Board is responsible
for:
●
developing criteria for membership
                                         on the board of directors and committees;
●
identifying individuals qualified
                                         to become members of the board of directors;
●
recommending persons to be
                                         nominated for election as directors and to each committee of the board of directors;
●
annually reviewing our corporate
                                         governance guidelines; and
●
monitoring and evaluating the
                                         performance of the board of directors and leading the board in an annual self-assessment
                                         of its practices and effectiveness.
Risk Assessment and Compensation Practices
Our management assessed
and discussed with our compensation committee our compensation policies and practices for our employees as they relate to our
risk management and, based upon this assessment, we believe that any risks arising from such policies and practices are not reasonably
likely to have a material adverse effect on us in the future.
Our employees'
base salaries are fixed in amount and thus we do not believe that they encourage excessive risk taking. While performance-based
cash bonuses focus on achievement of short-term or annual goals, which may encourage the taking of short-term or annual risks
at the expense of long-term results, we believe that our compensation policies help mitigate this risk and our performance-based
cash bonuses are limited, representing a small portion of the total compensation opportunities available to most employees. We
also believe that our performance-based cash bonuses appropriately balance risk and the desire to focus our employees on specific
short-term goals important to our success and do not encourage unnecessary or excessive risk taking.
A significant proportion
of the compensation provided to our employees is in the form of long-term equity-based incentives that we believe are important
to help further align our employees' interests with those of our stockholders. We do not believe that these equity-based
incentives encourage unnecessary or excessive risk taking because their ultimate value is tied to our stock price.
Code of Business Conduct and Ethics
We have adopted a
code of business conduct and ethics that applies to all of our employees, officers and directors, including those officers responsible
for financial reporting. Following the closing of the Merger, the code of business conduct and ethics will be available on our
website at www.amesite.com. We expect that any amendments to the code, or any waivers of its requirements, will be disclosed on
our website.
Limitation of Liability and Indemnification
Our amended and restated
certificate of incorporation will provide that to the fullest extent permitted by the General Corporation Law, a director shall
not be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. Our amended
and restated bylaws provide that we shall indemnify and hold harmless our directors and officers to the fullest extent permitted
by applicable law, except that we will not be required to indemnify or hold harmless any director or officer in connection with
any proceeding initiated by such person unless the proceeding was authorized by our board of directors. Under our amended and
restated bylaws, such rights shall not be exclusive of any other rights acquired by directors and officers, including by agreement.
Our amended and restated
bylaws provide that we will pay expenses to any director or officer prior to the final disposition of the proceeding, provided,
however, that such advancements shall be made only upon receipt of an undertaking by such director or officer to repay all amounts
advanced if it should be ultimately determined that such director or officer is not entitled to indemnification under the amended
and restated bylaws of or otherwise.
In addition to the
indemnification obligations required by our amended and restated certificate of incorporation and amended and restated bylaws,
we have entered into indemnification agreements with each of our directors and officers. These agreements provide for the indemnification
of our directors and executive officers for all reasonable expenses and liabilities incurred in connection with any action or
proceeding brought or threatened to be brought against them by reason of the fact that they are or were our agents. We believe
that these amended and restated certificate of incorporation provisions, amended and restated bylaw provisions and indemnification
agreements are necessary to attract and retain qualified persons as directors and officers.
30
As a condition to
the Merger, we also entered into a Pre-Merger Indemnity Agreement with our former officers and directors, pursuant to which we
agreed to indemnify such former officers and directors for actions taken by them in their official capacities relating to the
consideration, approval and consummation of the Merger and certain related transactions.
We expect to obtain
general liability insurance that covers certain liabilities of our directors and officers arising out of claims based on acts
or omissions in their capacities as directors or officers, including liabilities under the Securities Act.
Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the us pursuant
to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable.
The above provisions
may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. The provisions may
also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action,
if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder's investment may be adversely
affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions. We believe that these provisions, the indemnification agreements and the insurance are necessary to attract and retain
talented and experienced directors and officers.
At present, there
is no pending litigation or proceeding involving any of our directors or officers where indemnification will be required or permitted.
We are not aware of any threatened litigation or proceedings that might result in a claim for such indemnification.
EXECUTIVE AND
DIRECTOR COMPENSATION
Director Compensation
On March 28,
2018, Amesite OpCo granted (i) 50,000 options (which were converted into 72,917 options of Amesite following the consummation
of the Merger) to Anthony Barkett, (ii) 50,000 options (which were converted into 72,917 options of Amesite following the
consummation of the Merger) to Edward Frank, (iii) 75,000 options (which were converted into 109,375 options of Amesite
following the consummation of the Merger) to Michael Losh, and (iv) 75,000 options (which were converted into 109,375 options
of Amesite following the consummation of the Merger) to Richard Ogawa. 50% of the options vest one year from the date of
grant with the remainder vesting at a rate of 1/24 each month thereafter. These options were automatically converted into
options of Amesite Inc. at the closing of the Merger. We have entered into a board service agreement with each of its
non-employee directors regarding director compensation and covering reimbursement of expenses incurred by such directors in
attending meetings of our board of directors and committees thereof, and in carrying out such director's duties as a
director or as a member of any committee of its board of directors. These agreements, which may be amended from time to time,
will remain in place.
Consulting Arrangement
On March 29, 2018,
the board of directors of Amesite OpCo approved a consulting agreement with Mr. Richard Ogawa whereby Mr. Ogawa will provide certain
consulting services to Amesite OpCo relating to the protection of Amesite OpCo's intellectual property and general business
advice for the benefit of Amesite OpCo. Amesite OpCo agreed to pay Mr. Ogawa $1,000 for each filed patent application and $1,000
for each issued or granted patent regardless of the jurisdiction or type of patent, except for provisional patent applications
for which no fee would be paid by Amesite OpCo. In addition, Amesite OpCo granted Mr. Ogawa a nonqualified stock option to purchase
200,000 shares of Amesite OpCo's common stock (subject to adjustment for the Merger) at an exercise price of $1.50 per share
(subject to adjustment for the Merger).
The foregoing description
of the terms of Mr. Ogawa's consulting agreement is qualified in its entirety by reference to the provisions of the employment
agreement filed as Exhibit 10.5 hereto.
Executive Compensation
Overview
Summary Compensation Table
Amesite OpCo was incorporated
in November 2017 and no compensation was paid to it officers between incorporation and December 31, 2017. We paid our former controller
Bernie Chong $15,000 between January 1, 2018 and June 30, 2018. We paid Dr. Sastry $61,923 between January 1, 2018 and June 30,
2018.
Employment and Change in Control Arrangements
We generally execute
an offer of employment or employment agreement before an executive joins the company. This offer describes the basic terms of
the executive's employment, including his or her start date, starting salary, bonus target and any equity awards.
31
Ann Marie Sastry, Chief Executive Officer
Dr. Sastry's
base salary is reviewed periodically by our Board and adjustments may be made upon the recommendations of the Compensation Committee.
Before the effective date of the Merger, our Board appointed her as our Chief Executive Officer and set her annual base salary
at $350,000. She is eligible to receive a bonus up to 60% of her annual base salary for achievement of mutually agreed upon milestones
approved by our Board.
Base salaries for
our named executive officers other than our Chief Executive Officer will typically be reviewed annually in connection with their
performance reviews.
Rick DiBartolomeo, Chief Financial Officer
In connection with
the appointment of Mr. DiBartolomeo as Chief Financial Officer, the Company and Mr. DiBartolomeo entered into a consulting agreement,
effective November 12, 2018 (the "Consulting Agreement"), pursuant to which Mr. DiBartolomeo will receive a flat rate
of $5,000 per month for his services. Under the terms of the Consulting Agreement, the Company will engage Mr. DiBartolomeo as
an independent contractor to perform certain services, including but not limited to, serving as the Company's Chief Financial
Officer and performing services normally provided by a chief financial officer. The engagement of Mr. DiBartolomeo pursuant to
the Consulting Agreement will continue until the earlier of (i) the final completion of his Services (as such term is defined
in the Consulting Agreement), or (ii) the termination of the Consulting Agreement as provided in the Consulting Agreement. Each
party to the Consulting Agreement may terminate such agreement upon providing 21 days' prior written notice of such termination
to the other party. In addition, the Company may terminate the Consulting Agreement immediately and without prior notice under
certain circumstances.
Outstanding Equity Awards at June 30, 2018
There were no outstanding
equity awards issued to our principal executive officer or next two highest paid executive officers at June 30, 2018.
Equity Incentive Plans
The following summary
provides more detailed information concerning our equity compensation plan. This summary is qualified in its entirety by the full
text of the compensation plan and related form of award agreement, each of which has been filed as an exhibit to this prospectus.
2017 Equity Incentive Plan
On November 14, 2017
and November 15, 2017, respectively, the Amesite OpCo board of directors adopted and its stockholders approved the Amesite Inc.
2017 Equity Incentive Plan, or the 2017 Plan. The material terms of the 2017 Plan are as follows:
Eligible participants
.
All officers, directors, employees, consultants, agents and independent contractors, and persons expected to become officers,
directors, employees, consultants, agents and independent contractors of our Company or any of our subsidiaries are eligible to
receive awards under the 2017 Plan.
Shares authorized
.
The maximum plan pool size is 1,000,000 shares of Amesite OpCo's common stock.
Award Types
.
Awards include options, stock appreciation rights, restricted stock, or restricted stock units.
2018 Equity Incentive Plan
On April 26, 2018,
the Board adopted and the Company's stockholders approved the Amesite, Inc. 2018 Equity Incentive Plan, or the 2018 Plan.
The 2018 Plan is intended to align the interests of our stockholders and the recipients of awards under the 2018 Plan, and to
advance our interests by attracting and retaining directors, officers, employees and other service providers and motivating them
to act in our long-term best interests. The material terms of the 2018 Plan are as follows:
Plan term
.
The 2018 Plan became effective on July 23, 2018 and terminates on the tenth anniversary of its effective date, unless terminated
earlier by our Board.
Eligible participants
.
All officers, directors, employees, consultants, agents and independent contractors, and persons expected to become officers,
directors, employees, consultants, agents and independent contractors of our Company or any of our subsidiaries are eligible to
receive awards under the 2018 Plan. The Compensation Committee of our board will determine the participants under the 2018 Plan.
32
Shares authorized
.
2,529,000 shares of common stock will be available for awards granted under the 2018 Plan, inclusive of 1,288,195 shares subject
to options originally granted under the 2017 Plan and assumed in connection with the Merger, subject to adjustment for stock splits
and other similar changes in capitalization. The number of available shares will be reduced by the aggregate number of shares
that become subject to outstanding awards granted under the 2018 Plan. As of the first day of each calendar year beginning on
or after January 1, 2021, the number of shares available for all awards under the 2018 Plan, other than incentive stock options,
will automatically increase by a number equal to the least of (i) five percent (5%) of the number of shares of the Company's
common stock that are issued and outstanding as of that date, or (ii) a lesser number of shares of the Company's common
stock as determined by the Compensation Committee. To the extent that shares of common stock subject to an outstanding award granted
under the 2018 Plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award
or by reason of the settlement of an award in cash, then those shares of common stock will again be available under the 2018 Plan.
In addition, any shares covered by an award that have been surrendered in connection with the payment of the award exercise or
purchase price or in satisfaction of tax withholding obligations incident to the grant, exercise, vesting or settlement of an
award will be deemed not to have been issued for purposes of determining the maximum number of shares of common stock which may
be issued pursuant to all awards under the 2018 Plan.
Award types
.
Awards include non-qualified and incentive stock options, stock appreciation rights, bonus shares, restricted stock, restricted
stock units, performance units and cash-based awards.
Administration
.
The Compensation Committee will interpret and administer the 2018 Plan. The Compensation Committee's interpretation, construction
and administration of the 2018 Plan and all of its determinations thereunder will be conclusive and binding on all persons.
The Compensation Committee
shall have the authority to determine the participants in the 2018 Plan, the form, amount and timing of any awards, the performance
goals, if any, and all other terms and conditions pertaining to any award. The Compensation Committee may take any action such
that (i) any outstanding options and stock appreciation rights become exercisable in part or in full, (ii) all or any portion
of a restriction period on any restricted stock or restricted stock units will lapse, (iii) all or a portion of any performance
period applicable to any performance-based award will lapse, and (iv) any performance measures applicable to any outstanding award
will be deemed satisfied at the target level or any other level. Subject to the terms of the 2018 Plan relating to grants to our
executive officers and directors, the Compensation Committee may delegate some or all of its powers and authority to the Chief
Executive Officer and President or other executive officer as the Compensation Committee deems appropriate.
Stock options and
stock appreciation rights
. The 2018 Plan provides for the grant of stock options and stock appreciation rights. Stock options
may be either tax-qualified incentive stock options or non-qualified stock options. The Compensation Committee will determine
the terms and conditions to the exercisability of each option and stock appreciation right.
The period for the
exercise of a non-qualified stock option or stock appreciation right will be determined by the Compensation Committee provided
that no option may be exercised later than ten years after its date of grant. The exercise price of a non-qualified stock option
and the base price of a stock appreciation right will not be less than 100% of the fair market value of a share of our common
stock on the date of grant, provided that the base price of a stock appreciation right granted in tandem with an option will be
the exercise price of the related option. A stock appreciation right entitles the holder to receive upon exercise, subject to
tax withholding in respect of an employee, shares of our common stock, which may be restricted stock, with a value equal to the
difference between the fair market value of our common stock on the exercise date and the base price of the stock appreciation
right.
Each incentive stock
option will be exercisable for not more than 10 years after its date of grant, unless the optionee owns greater than 10% of the
voting power of all shares of our capital stock, or a "ten percent holder", in which case the option will be exercisable
for not more than five years after its date of grant. The exercise price of an incentive stock option will not be less than the
fair market value of a share of our common stock on its date of grant, unless the optionee is a ten percent holder, in which case
the option exercise price will be the price required by the Code, currently 110% of fair market value.
Upon exercise, the
option exercise price may be paid in cash, by the delivery of previously owned shares of our common stock, share withholding or
through a cashless exercise arrangement, as permitted by the applicable award agreement. All of the terms relating to the exercise,
cancellation or other disposition of an option or stock appreciation right upon a termination of employment, whether by reason
of disability, retirement, death or any other reason, will be determined by the Compensation Committee.
The Compensation Committee,
without stockholder approval, may (i) reduce the exercise price of any previously granted option or the base appreciation amount
of any previously granted stock appreciation right, or (ii) cancel any previously granted option or stock appreciation right at
a time when its exercise price or base appreciation amount (as applicable) exceeds the fair market value of the underlying shares,
in exchange for another option, stock appreciation right or other award or for cash.
Stock awards
.
The 2018 Plan provides for the grant of stock awards. The Compensation Committee may grant a stock award as a bonus stock award,
a restricted stock award or a restricted stock unit award and, in the case of a restricted stock award or restricted stock unit
award, the Compensation Committee may determine that such award will be subject to the attainment of performance measures over
an established performance period. All of the terms relating to the satisfaction of performance measures and the termination of
a restriction period, or the forfeiture and cancellation of a stock award upon a termination of employment, whether by reason
of disability, retirement, death or any other reason, will be determined by the Compensation Committee.
33
The agreement awarding
restricted stock units will specify whether such award may be settled in shares of our common stock, cash or a combination thereof
and whether the holder will be entitled to receive dividend equivalents, on a current or deferred basis, with respect to such
award. Prior to settlement of a restricted stock unit in shares of our common stock, the holder of a restricted stock unit will
have no rights as our stockholder.
Unless otherwise set
forth in a restricted stock award agreement, the holder of shares of restricted stock will have rights as our stockholder, including
the right to vote and receive dividends with respect to the shares of restricted stock, except that distributions other than regular
cash dividends and regular cash dividends with respect to shares of restricted stock subject to performance-based vesting conditions
will be held by us and will be subject to the same restrictions as the restricted stock.
Performance unit
awards
. The 2018 Plan provides for the grant of performance unit awards. Each performance unit is a right, contingent upon
the attainment of performance measures within a specified performance period, to receive a specified cash amount, shares of our
common stock or a combination thereof which may be restricted stock, having a fair market value equal to such cash amount. Prior
to the settlement of a performance unit award in shares of our common stock, the holder of such award will have no rights as our
stockholder with respect to such shares. Performance units will be non-transferable and subject to forfeiture if the specified
performance measures are not attained during the specified performance period. All of the terms relating to the satisfaction of
performance measures and the termination of a performance period, or the forfeiture and cancellation of a performance unit award
upon a termination of employment, whether by reason of disability, retirement, death or any other reason, will be determined by
the Compensation Committee.
Cash-based awards
.
The 2018 Plan also provides for the grant of cash-based awards. Each cash-based award is an award denominated in cash that may
be settled in cash and/or shares, which may be subject to restrictions, as established by the Compensation Committee.
Performance goals
.
Under the 2018 Plan, the vesting or payment of performance-based awards will be subject to the satisfaction of certain performance
goals. The performance goals applicable to a particular award will be determined by the Compensation Committee at the time of
grant. The performance goals may be one or more of the following corporate-wide or subsidiary, division, operating unit or individual
measures, stated in either absolute terms or relative terms.
Individual Limits.
With respect to non-employee
directors, the maximum grant date fair value of shares that may be granted to an individual non-employee director during any fiscal
year of the Company is $150,000. In connection with a non-employee director's commencement of service with the Company,
the per person limit set forth in the previous sentence will be $150,000.
Amendment or termination
of the 2018 Plan
. The board may amend or terminate the 2018 Plan as it deems advisable, subject to any requirement of stockholder
approval required by law, rule or regulation.
Change of control
.
In the event of a change of control, our Board may, in its discretion, (1) provide that (A) some or all outstanding options and
stock appreciation rights will immediately become exercisable in full or in part, (B) the restriction period applicable to some
or all outstanding stock awards will lapse in full or in part, (C) the performance period applicable to some or all outstanding
awards will lapse in full or in part, and (D) the performance measures applicable to some or all outstanding awards will be deemed
to be satisfied at the target or any other level, (2) provide that some or all outstanding awards will terminate without consideration
as of the date of the change of control, (3) require that shares of stock of the corporation resulting from such change of control,
or a parent corporation thereof, be substituted for some or all of our shares subject to an outstanding award, and/or (4) require
outstanding awards, in whole or in part, to be surrendered by the holder, and to be immediately canceled, and to provide for the
holder to receive (A) a cash payment in an amount equal to (i) in the case of an option or stock appreciation right, the number
of our shares then subject to the portion of such option or stock appreciation right surrendered, whether vested or unvested,
multiplied by the excess, if any, of the fair market value of a share of our common stock as of the date of the change of control,
over the purchase price or base price per share of our common stock subject to such option or stock appreciation right, (ii) in
the case of a stock award, the number of shares of our common stock then subject to the portion of such award surrendered, whether
vested or unvested, multiplied by the fair market value of a share of our common stock as of the date of the change of control,
and (iii) in the case of a performance unit award, the value of the performance units then subject to the portion of such award
surrendered; (B) shares of capital stock of the corporation resulting from such change of control, or a parent corporation thereof,
having a fair market value not less than the amount determined under clause (A) above; or (C) a combination of the payment of
cash pursuant to clause (A) above and the issuance of shares pursuant to clause (B) above.
Under the 2018 Plan,
a change of control will occur upon: (i) a person's or entity's acquisition, other than from us, of beneficial ownership
of 50% or more of either our then outstanding shares or the combined voting power of our then outstanding voting securities, but
excluding certain acquisitions by the company, its subsidiaries or employee benefit plans, or by a corporation in which our stockholders
hold a majority interest; (ii) a reorganization, merger or consolidation of the company if our stockholders do not thereafter
beneficially own more than 50% of the outstanding shares or combined voting power of the resulting company, (iii) certain changes
to the incumbent directors of our Company, or (iv) a complete liquidation or dissolution of the company or of the sale or other
disposition of all or substantially all of our assets; but excluding, in any case, the initial public offering or any bona fide
primary or secondary public offering following the occurrence of the initial public offering.
New plan benefits
.
The benefits that might be received by officers, employees and non-employee directors cannot be determined at this time. All officers,
employees and non-employee directors are eligible for consideration to participate in the 2018 Plan.
34
Equity Compensation Plan Information
The following table summarizes securities available
under our equity compensation plans as of June 27, 2019.
Number of
securities
available for
Number of
future
securities
Weighted
issuance
to be issued
average
under equity
upon
exercise
compensation
exercise of
price of
plans
outstanding
outstanding
(excluding
options,
options,
securities
warrants
warrants
reflected in
and rights
and rights
column (a))
Equity compensation plans approved by security holders:
2018 Plan(1)
1,091,833
$
1.50
1,437,167
Equity compensation plans not approved by security holders:
—
—
$
—
—
CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
Below we describe
transactions and series of related transactions to which we were a party, or may be a party, and which we have entered into since
our incorporation in November 2017, or is currently proposed, in which:
●
the amounts
                                         involved exceeds or will exceed the lesser of $120,000 or 1% of the average of our total
                                         assets as of the end of the last two completed fiscal years; and
●
any of our
                                         directors, executive officers or holders of more than five percent of our capital stock,
                                         or an affiliate or immediate family member of such persons, had or will have a direct
                                         or indirect material interest.
Common Stock Issued in the Insider Investment
Certain of our existing
investors, including investors affiliated with certain of our directors, and Dr. Sastry, our chief executive officer, have purchased
an aggregate of 566,667 shares of our common stock in the Insider Investment, for an aggregate purchase price of approximately
$680,000. The following investors in the Insider Investment are related to the Company:
Inside Investors
Relationship With Company
Investment
Anthony Barkett
Director
$
60,000.00
Ed Frank
Director
$
50,000.00
Mike Losh
Director
$
50,000.00
Richard Ogawa (through Ogawa P.C.)
Director
$
30,000.00
Richard Ogawa
Director
$
50,000.00
Ann Marie Sastry
Chief Executive Officer and Director
$
340,000.80
Mark Tompkins
Former Chief Executive Officer, Director and Current 5%> Holder
$
100,000.00
Related Party Advances
Since November 2017,
Dr. Sastry has advanced approximately $239,292 to Amesite OpCo to fund its start-up operations, which included research and development,
organizational costs, and various professional fees in connection with the private placement offerings and insider investment.
Amesite OpCo and Dr. Sastry did not have a formal arrangement or agreement pursuant to which these funds were paid. Dr. Sastry
paid certain Amesite OpCo related expenses and was reimbursed out of proceeds of the Private Placement. Dr. Sastry was repaid
without interest.
35
Director and Executive Officer Compensation
See "Executive
and Director Compensation" for information regarding compensation of Amesite OpCo's directors and named executive
officers.
Indemnification Agreements and Directors' and Officers'
Liability Insurance
Amesite OpCo has entered
into indemnification agreements with each of its directors and executive officers. These agreements, among other things, require
Amesite OpCo or will require it to indemnify each director and executive officer to the fullest extent permitted by Delaware law,
including indemnification of expenses such as attorneys' fees, judgments, fines and settlement amounts incurred by the director
or executive officer in any action or proceeding, including any action or proceeding by or in right of Amesite OpCo, arising out
of the person's services as a director or executive officer. As a condition to the Merger, we also entered into a Pre-Merger
Indemnity Agreement with our former officers and directors, pursuant to which we agreed to indemnify such former officers and
directors for actions taken by them in their official capacities relating to the consideration, approval and consummation of the
Merger and certain related transactions. The form of the Pre-Merger Indemnity Agreement is filed as an exhibit to this prospectus.
All descriptions of the Pre-Merger Indemnity Agreement herein are qualified in their entirety by reference to the text thereof
filed as an exhibit hereto, which is incorporated herein by reference.
Policies and Procedures for Related Party Transactions
We do not currently
have written policies and procedures for related party transactions. Our board of directors plans to adopt a written related person
transaction policy, to set forth the policies and procedures for the review and approval or ratification of related person transactions.
This policy will cover, with certain exceptions set forth in Item 404 of Regulation S-K promulgated under the Exchange Act, any
transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which we were
or are to be a participant, where the amount involved exceeds or will exceed the lesser of $120,000 or 1% of the average of Amesite
OpCo's total assets as of the end of the last two completed fiscal years and a related person had, has or will have a direct
or indirect material interest, including purchases of goods or services by or from the related person or entities in which the
related person has a material interest, indebtedness, guarantees of indebtedness and employment by us of a related person. Our
audit committee will be responsible for reviewing and approving in advance the related party transactions covered by our related
transaction policies and procedures.
USE
OF PROCEEDS
We are filing this
registration statement of which this prospectus forms a part to permit holders of the shares of our common stock described in
the section entitled "Selling Stockholders" to resell such shares. We will not receive any proceeds from the resale
of any shares offered by this prospectus by the selling stockholders.
DIVIDEND
POLICY
We currently intend
to retain future earnings, if any, for use in the operation of our business and to fund future growth. We have never declared
or paid cash dividends on our common stock and we do not intend to pay any cash dividends on our common stock for the foreseeable
future. Any future determination related to our dividend policy will be made at the discretion of our board of directors in light
of conditions then existing, including factors such as our results of operations, financial condition and requirements, business
conditions and covenants under any applicable contractual arrangements.
DETERMINATION
OF OFFERING PRICE
The selling stockholders
may only sell their shares of our common stock pursuant to this prospectus at a fixed price of $1.50 per share until such time
as our common stock is quoted on the OTCBB or another public trading market for our common stock otherwise develops. At and after
such time, the selling stockholders may sell all or a portion of their shares through public or private transactions at prevailing
market prices or at privately negotiated prices. The fixed price of $1.50 at which the selling stockholders may sell their shares
pursuant to this prospectus was determined based upon the purchase price per share of our common stock in the Private Placement
We have included a fixed price at which selling stockholders may sell their shares pursuant to this prospectus prior to the time
there is a public market for our stock in order to comply with the rules of the SEC that require that, if there is no market for
the shares being registered, this registration statement must include a price at which the shares may be sold. Except to the extent
that we are involved in an underwritten secondary offering of common stock, if any, by the selling stockholders, all shares of
common stock being offered pursuant to this prospectus will be sold by the selling stockholders without our involvement.
36
MARKET INFORMATION FOR OUR COMMON STOCK
Our common stock is
not listed on a national securities exchange, an over-the-counter market or any other exchange. Therefore, there is no trading
market, active or otherwise, for our common stock and our common stock may never be included for trading on any stock exchange,
automated quotation system or any over-the-counter market.
As of June 27, 2019,
we had 13,490,586 shares of common stock outstanding held by 81 stockholders of record.
As of June 27, 2019,
we had outstanding options to purchase 1,091,833 shares of our common stock and outstanding warrants to purchase 1,771,192 shares
of our common stock.
SECURITY OWNERSHIP
OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table
sets forth certain information relating to the beneficial ownership of our common stock as of June 27, 2019, by:
●
each person,
                                         or group of affiliated persons, known by us to beneficially own more than five percent
                                         of the outstanding shares of our common stock;
●
each of
                                         our directors;
●
each of
                                         our named executive officers; and
●
all directors
                                         and executive officers as a group.
The number of shares
beneficially owned by each entity, person, director or executive officer is determined in accordance with the rules of the SEC,
and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rules, beneficial
ownership includes any shares over which the individual has sole or shared voting power or dispositive power as well as any shares
that the individual has the right to acquire within 60 days of September 20, 2018 through the exercise of any stock option, warrants
or other rights. Except as otherwise indicated, and subject to applicable community property laws, the persons named in the table
have sole voting and dispositive power with respect to all shares of common stock held by that person.
The percentage of shares
beneficially owned is computed on the basis of 13,490,586 shares of our common stock outstanding as of June 27, 2019.
Shares of common stock
that a person has the right to acquire within 60 days of June 27, 2019, are deemed outstanding for purposes of computing the percentage
ownership of the person holding such rights, but are not deemed outstanding for purposes of computing the percentage ownership
of any other person, except with respect to the percentage ownership of all directors and executive officers as a group. Unless
otherwise noted below, the address of the persons listed on the table is c/o Amesite Inc., 205 East Washington Street, Suite B,
Ann Arbor, Michigan 48104.
Shares of Common Stock Beneficially Owned (#) (1)
Percentage of Common Stock Beneficially Owned (%) (1)
Beneficial Owner Greater than 5% Stockholders
Mark Tompkins
Apt. 1,Via Guidino 23,
6900 Lugano
Paradiso, Switzerland
2,900,668
19.91
%
Directors and Named Executive Officers (2)
Ann Marie Sastry, Ph.D.
6,116,667
43.24
%
J. Michael Losh
151,041
1.07
%
Edward H. Frank, Ph.D.
114,583
*
Richard Ogawa
(3)
467,708
3.31
%
Anthony M. Barkett
122,917
*
All directors and executive officers as a group (6 persons)
6,972,916
49.29
%
*
Indicates beneficial
                                         ownership of less than one percent of the outstanding shares of common stock.
(1)
Includes 2,921,145
                                         shares of common stock issued upon the consummation of the closing of the Private Placement,
                                         895,829 shares of our common stock in connection with the Insider Investment and 947,917
                                         shares of our common stock issuable upon the exercise of certain outstanding equity awards.
(2)
Options held by directors and named executive officers are deemed fully vested for purposes of this calculation.
(3)
Includes 25,000
                                         shares of common stock held of record by OGAWA Professional Corporation. Mr. Ogawa is
                                         the beneficial owner of OGAWA Professional Corporation and has voting and investment
                                         power over the securities held by OGAWA Professional Corporation.
37
SELLING STOCKHOLDERS
This prospectus covers
the offer and sale by the selling stockholders identified below of 292,114 shares of our common stock.
The 292,114 shares
of common stock being offered by the selling stockholders consists of an aggregate 292,114 shares of common stock issuable upon
the exercise of warrants issued to Laidlaw & Company (UK) Ltd. as compensation for placement agent services provided to the
Company in connection with its April 28, 2018 and June 8, 2018 private placement. We are registering the shares of common stock
in order to permit the selling stockholders to offer the shares of common stock for resale from time to time. The registration
of such common stock does not necessarily mean, however, that any of the shares of common stock will be offered or sold by the
selling stockholders. We will not receive any proceeds from the sale of the common stock by the selling stockholders, and we have
borne and will continue to bear the costs relating to the registration of these shares of common stock, other than commissions
and discounts of agents or broker-dealers and transfer taxes, if any.
Except as disclosed
in the footnotes below and except for the beneficial ownership of the common stock described in the table below, none of the selling
stockholders has held any position or office or had any other material relationship with us or any of our predecessors or affiliates
within the past three years. Except as disclosed in the footnotes below, no selling stockholder had a material relationship with
the company or any of its affiliates within the last three years.
The following table
and the accompanying footnotes are based in part on information supplied to us by the selling stockholders. The table and footnotes
assume that the selling stockholders will sell all of the shares listed. However, because the selling stockholders may sell none
of their shares or sell all or some of their shares under this prospectus from time to time, or in another permitted manner, we
cannot assure you as to the actual number of shares that will be sold by the selling stockholders or that will be held by the
selling stockholders after completion of any sales. We do not know how long the selling stockholders will hold the shares before
selling them.
Beneficial ownership
has been determined under rules promulgated by the SEC. The information does not necessarily indicate beneficial ownership for
any other purpose. Under the rules of the SEC, a person is deemed to be a "beneficial owner" of a security if that
person has or shares "voting power," which includes the power to vote or to direct the voting of such security, or
"investment power," which includes the power to dispose of or to direct the disposition of such security. Shares of
common stock subject to options currently exercisable and convertible securities currently convertible, or exercisable or convertible
within 60 days after the date of this prospectus, are deemed outstanding for purposes of computing the percentage beneficially
owned by the person or entity holding such securities but are not deemed outstanding for purposes of computing the percentage
beneficially owned by any other person or entity. The inclusion of any shares in this table does not constitute an admission of
beneficial ownership by the persons named below. Please carefully read the footnotes located below the table in conjunction with
the information presented in the table.
Name of Selling Stockholders
Applicable Footnote
Number of Shares Owned Before
    the Offering (#)
Number of Shares Being Offered (#)
Shares Owned After the Offering
(#)(2)
Shares Owned After the Offering
(%)(1)(2)
Buff Trust
3
46,738
46,738
—
*
Garnet Trust
4
46,738
46,738
—
*
Laidlaw Holdings Ltd
5
14,769
14,769
—
*
Jeffrey R. Glazer
6
8,598
8,598
—
*
Abimelek Rodriguez
7
100
100
—
*
Richard G. Michalski
8
3,498
3,498
—
*
Michael J. Murray
9
2,525
2,525
—
*
Daniel W. Kuhar
10
1,425
1,425
—
*
John-Paul Eitner
11
13,039
13,039
—
*
Henry Oliver McCormack
12
13,039
13,039
—
*
George McCormack
13
999
999
—
*
Michael J. Ahern
14
11,344
11,344
—
*
Peter Silverman
15
11,097
11,097
—
*
Louis Marquez
16
6,510
6,510
—
*
Timothy C. Beher
17
2,149
2,149
—
*
Jayson Russo
18
5,232
5,232
—
*
Todd Cirella
19
5,232
5,232
—
*
Mark F. Blaha
20
333
333
—
*
Hugh J. Marasa Jr.
21
2,499
2,499
—
*
James Ahern
22
20,000
20,000
—
*
Matthew D. Eitner
23
20,000
20,000
—
*
Patrick Gallagher
24
10,000
10,000
—
*
Luke Kottke
25
10,000
10,000
—
*
Hugh Regan
26
20,000
20,000
—
*
Francis R. Smith
27
12,000
12,000
—
*
Ryan Turcotte
28
4,250
4,250
—
*
*
Less than 1%
38
(1)
Applicable percentage ownership is based on 13,490,586 shares of our common stock outstanding as of June 27, 2019.
(2)
Assumes the sale of all shares of common
                                         stock offered in this prospectus.
(3)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 46,738 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 46,738 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(4)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 46,738 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 46,738 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(5)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 14,769 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 14,769 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(6)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 8,598 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 8,598 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(7)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 100 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 100 of these shares issuable upon the exercise of warrants to the selling stockholder.
(8)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 3,498 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 3,498 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(9)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 2,525 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 2,525 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(10)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 1,425 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 1,425 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(11)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 13,039 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 13,039 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(12)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 13,039 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 13,039 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(13)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 999 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 999 of these shares issuable upon the exercise of warrants to the selling stockholder.
39
(14)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 11,344 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 11,344 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(15)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 11,097 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 11,097 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(16)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 6,510 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 6,510 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(17)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 2,149 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 2,149 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(18)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 5,232 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 5,232 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(19)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 5,232 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 5,232 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(20)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 333 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 333 of these shares issuable upon the exercise of warrants to the selling stockholder.
(21)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 2,499 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 2,499 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(22)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 20,000 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 20,000 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(23)
In connection with
                                         the Private Placement, Laidlaw & Company (UK) Ltd was entitled to receive 20,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw & Company
                                         (UK) Ltd has assigned its right to 20,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.
(24)
In connection with the Private Placement,
                                         Laidlaw & Company (UK) Ltd was entitled to receive 10,000 shares of our common stock
                                         issuable upon the exercise of warrants. Laidlaw & Company (UK) Ltd has assigned its
                                         right to 10,000 of these shares issuable upon the exercise of warrants to the selling
                                         stockholder.
(25)
In connection with
                                         the Private Placement, Laidlaw & Company (UK) Ltd was entitled to receive 10,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw & Company
                                         (UK) Ltd has assigned its right to 10,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.
(26)
In connection with
                                         the Private Placement, Laidlaw & Company (UK) Ltd was entitled to receive 20,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw & Company
                                         (UK) Ltd has assigned its right to 20,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.
(27)
In connection with
                                         the Private Placement, Laidlaw & Company (UK) Ltd was entitled to receive 12,000
                                         shares of our common stock issuable upon the exercise of warrants. Laidlaw & Company
                                         (UK) Ltd has assigned its right to 12,000 of these shares issuable upon the exercise
                                         of warrants to the selling stockholder.
(28)
In connection with
                                         the Private Placement, Laidlaw & Company (UK) Ltd was entitled to receive 4,250 shares
                                         of our common stock issuable upon the exercise of warrants. Laidlaw & Company (UK)
                                         Ltd has assigned its right to 4,250 of these shares issuable upon the exercise of warrants
                                         to the selling stockholder.
40
PLAN OF DISTRIBUTION
The selling stockholders,
which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares of common stock or
interests in shares of common stock received after the date of this prospectus from a selling stockholder as a gift, pledge, partnership
distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of common
stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded
or in private transactions. Until such time as our common stock is quoted on the OTCBB or another public trading market otherwise
develops, the selling stockholders identified herein may only sell their shares of our common stock pursuant to this prospectus
at a fixed price of $1.50 per share. At and after such time, the selling stockholders may sell all or a portion of their shares
through public or private transactions at prevailing market prices at the time of sale, at prices related to the prevailing market
price, at varying prices determined at the time of sale, or at privately negotiated prices.
The selling stockholders
may use any one or more of the following methods when disposing of shares or interests therein:
●
ordinary
                                         brokerage transactions and transactions in which the broker-dealer solicits purchasers;
●
block trades
                                         in which the broker-dealer will attempt to sell the shares as agent, but may position
                                         and resell a portion of the block as principal to facilitate the transaction;
●
purchases
                                         by a broker-dealer as principal and resale by the broker-dealer for its account;
●
an exchange
                                         distribution in accordance with the rules of the applicable exchange;
●
privately
                                         negotiated transactions;
●
Settlement
                                         of short sales entered into after the effective date of the registration statement of
                                         which this prospectus forms a part;
●
through
                                         the writing or settlement of options or other hedging transactions, whether through an
                                         options exchange or otherwise;
●
After our
                                         common stock is quoted on the OTCBB or another public trading market otherwise develops,
                                         broker-dealers may agree with the selling stockholders to sell a specified number of
                                         such shares at a stipulated price per share;
●
a combination
                                         of any such methods of sale; and
●
any other
                                         method permitted pursuant to applicable law.
The selling stockholders
may, from time to time, pledge or grant a security interest in some or all of the shares of common stock owned by them and, if
they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of
common stock, from time to time, under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other
applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other
successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer the shares of
common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling
beneficial owners for purposes of this prospectus.
In connection with
the sale of our common stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions
they assume. The selling stockholders may also sell shares of our common stock short and deliver these securities to close out
their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling
stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation
of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus
(as supplemented or amended to reflect such transaction).
The aggregate proceeds
to the selling stockholders from the sale of the common stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together with their agents
from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents.
We will not receive any of the proceeds from this offering.
41
The selling stockholders
and any underwriters, broker-dealers or agents that are involved in selling the common stock or interests therein may be deemed
to be "underwriters" within the meaning of Section 2(a)(11) of the Securities Act. In such event, any commissions
received by such broker-dealers or agents and any profit on the resale of the common stock purchased by them may be deemed to
be underwriting commissions or discounts under the Securities Act. Each selling stockholder has informed us that it does not have
any written or oral agreement or understanding, directly or indirectly, with any underwriter or other person to distribute the
common stock. If a selling stockholder is deemed to be an "underwriter" within the meaning of the Securities Act,
it will be subject to the prospectus delivery requirements of the Securities Act.
To the extent required,
the shares of our common stock to be sold, the names of the selling stockholders, the respective purchase prices and public offering
prices, the names of any agents, dealer or underwriter, and any applicable commissions or discounts with respect to a particular
offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to this registration
statement that includes this prospectus.
In order to comply
with the securities laws of some states, if applicable, the common stock may be sold in such jurisdictions only through registered
or licensed brokers or dealers. In addition, in some states the common stock may not be sold unless it has been registered or
qualified for sale or an exemption from registration or qualification requirements is available and is complied with.
We have advised the
selling stockholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the
market and to the activities of the selling stockholders and their affiliates. In addition, we will make copies of this prospectus
(as it may be supplemented or amended from time to time) available to the selling stockholders for the purpose of satisfying the
prospectus delivery requirements of the Securities Act. The selling stockholders may indemnify any broker-dealer that participates
in transactions involving the sale of the common stock against certain liabilities, including liabilities arising under the Securities
Act.
We have agreed to
indemnify the selling stockholders against liabilities, including liabilities under the Securities Act and state securities laws,
relating to the registration of the shares of common stock offered by this prospectus. We have agreed with the selling stockholders
to keep this registration statement of which this prospectus constitutes a part effective for five years from the date it is declared
effective by the SEC or until the date on which all of the shares required to be registered by us have been transferred other
than to certain enumerated permitted assignees under the Registration Rights Agreement. See the section of this prospectus captioned
"Shares Eligible for Future Sale—Registration Rights."
DESCRIPTION OF
CAPITAL STOCK
We have authorized capital stock consisting of 100,000,000 shares of common stock and 5,000,000 shares
of preferred stock. As of June 27, 2019, we had 13,490,585 shares of common stock issued and outstanding, and no shares of preferred
stock issued and outstanding. Unless stated otherwise, the following discussion summarizes the term and provisions of our amended
and restated certificate of incorporation and our amended and restated bylaws. This description is summarized from, and qualified
in its entirety by reference to, our amended and restated certificate of incorporation, which has been publicly filed with the
SEC.
Common Stock
The holders of shares
of our common stock are entitled to one vote per share on all matters to be voted upon by our stockholders, provided, however,
that, except as otherwise required by law, holders of our common stock shall not be entitled to vote on any amendment to our certificate
of incorporation that relates solely to the terms of one or more outstanding series of our preferred stock if the holders of such
affected series of preferred stock are entitled, either separately or together as a class with the holders of one or more other
series of preferred stock, to vote thereon by law or pursuant to our certificate of incorporation. There are no cumulative rights
with respect to our common stock. Subject to preferences that may be applicable to any outstanding preferred stock, the holders
of shares of our common stock are entitled to receive ratably any dividends that may be declared from time to time by our board
of directors out of funds legally available for that purpose. In the event of our liquidation, dissolution or winding up, the
holders of shares of our common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject
to prior distribution rights of preferred stock then outstanding. Our common stock has no preemptive or conversion rights or other
subscription rights. There are no redemption or sinking fund provisions applicable to our common stock. The outstanding shares
of our common stock are fully paid and non-assessable, and any shares of our common stock to be issued upon an offering pursuant
to this prospectus will be fully paid and nonassessable upon issuance.
We have never paid
cash dividends on our common stock. Moreover, we do not anticipate paying periodic cash dividends on our common stock for the
foreseeable future. Any future determination about the payment of dividends will be made at the discretion of our board of directors
and will depend upon our earnings, if any, capital requirements, operating and financial conditions and on such other factors
as our board of directors deems relevant. For a discussion of provisions in our charter that would have an effect of delaying
or preventing a change of control, see "
Anti-Takeover Effects of Provisions of Our Charter Documents.
"
42
Preferred Stock
The following description
of our preferred stock and the description of the terms of any particular series of our preferred stock that we choose to issue
are not complete. These descriptions are qualified in their entirety by reference to our amended and restated certificate of incorporation
and the certificate of designation, if and when adopted by our board of directors, relating to that series. The rights, preferences,
privileges and restrictions of the preferred stock of each series will be fixed by the certificate of designation relating to
that series.
We currently have
no shares of preferred stock outstanding. Our board of directors has the authority, without further action by the stockholders,
to issue up to 5,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions
granted to or imposed upon the preferred stock. Any or all of these rights may be greater than the rights of our common stock.
Our board of directors,
without stockholder approval, can issue preferred stock with voting, conversion or other rights that could negatively affect the
voting power and other rights of the holders of our common stock. Preferred stock could thus be issued quickly with terms calculated
to delay or prevent a change in control of us or make it more difficult to remove our management. Additionally, the issuance of
preferred stock may have the effect of decreasing the market price of our common stock.
Our board of directors
may specify the following characteristics of any preferred stock, which may affect the rights of holders of our common stock:
●
the annual
                                         dividend rate, if any, whether the dividend rate is fixed or variable, the date or dates
                                         on which dividends will accrue, the dividend payment dates, and whether dividends will
                                         be cumulative;
●
the liquidation
                                         preference, if any, and any accumulated dividends upon the liquidation, dissolution or
                                         winding up of our affairs;
●
the voting
                                         rights; and
●
any or all
                                         other preferences and relative, participating, optional or other special rights, privileges
                                         or qualifications, limitations or restrictions.
Warrants
As of June 27,
2019, the Placement Agent Warrants entitle their holders to purchase an aggregate of 292,114 shares of common stock, with a term
of five years and an exercise price of $1.50 per share.
The Placement Agent
Warrants contain customary provisions for adjustment in the event of stock splits, subdivision or combination or mergers.
The summary descriptions
of the warrants described above are qualified in their entirety by reference to the form of such warrants filed as an exhibit
to this prospectus.
Options
Options to purchase shares of Amesite OpCo common stock that were originally granted under the 2017 Plan
to certain of Amesite OpCo's employees, officers and directors were converted into options to purchase 947,917 shares of
our common stock with a weighted average exercise price of $1.50 per share when they were assumed by us in connection with the
Merger. As of June 27, 2019, there were options to purchase 1,091,833 shares of our common stock with a weighted average exercise
price of $1.50 per share.
Other Convertible Securities
As of June 27,
2019, other than the securities described above, we do not have any outstanding convertible securities.
Lock-up Agreements
In connection with
the Merger and the Insider Investment, holders of approximately 6.7 million shares of our common stock have agreed, subject to
certain exceptions, not to dispose of or hedge any shares of common stock or securities convertible into or exchangeable for shares
of common stock during the period from the date of the lock-up agreement continuing through the date twenty-four months after
the date of the Merger and the initial closing of the Private Placement, except with our prior written consent.
Following the lock-up
periods set forth in the agreements described above, and assuming that no parties are released from these agreements and that
there is no extension of the lock-up period, certain of the shares of common stock that are restricted securities or are held
by our affiliates as of the date of the Merger will be eligible for sale in the public market in compliance with Rule 144 under
the Securities Act. See
"
Shares Eligible for Future Sale—Lock-Up Agreements" below for more information.
43
Registration Rights
In connection with
the Merger and the Private Placement, we entered into a Registration Rights Agreement with our investors. See
"
Shares
Eligible for Future Sale—Registration Rights" below for more information.
Anti-Takeover Effects of Provisions of Our Charter Documents
Our amended and restated
certificate of incorporation provides for our board of directors to be divided into three classes serving staggered terms. Approximately
one-third of the board of directors will be elected each year. The provision for a classified board could prevent a party who
acquires control of a majority of our outstanding voting stock from obtaining control of our board of directors until the second
annual stockholders meeting following the date the acquirer obtains the controlling stock interest. The classified board provision
could discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control of us and could increase
the likelihood that incumbent directors will retain their positions. Our amended and restated certificate of incorporation provides
that directors may be removed with cause by the affirmative vote of the holders of a majority of the voting power of all of our
outstanding stock or without cause by the affirmative vote of the holders of at least 66 and 2/3% of the voting power of all of
our outstanding stock.
Our amended and restated
certificate of incorporation provides that certain amendments of our certificate of incorporation and amendments by our stockholders
of our amended and restated bylaws require the approval of at least 66 and 2/3% of the voting power of all of our outstanding
stock. These provisions could discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control
of our company and could delay changes in management.
Our amended and restated
certificate of incorporation also provides that, unless we consent in writing to an alternative forum, the Court of Chancery of
the State of Delaware will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any
action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our
stockholders, any action asserting a claim arising pursuant to any provision of the General Corporation Law, our amended and restated
certificate of incorporation or our amended and restated bylaws or any action asserting a claim that is governed by the internal
affairs doctrine, in each case subject to the Court of Chancery having personal jurisdiction over the indispensable parties named
as defendants therein and the claim not being one which is vested in the exclusive jurisdiction of a court or forum other than
the Court of Chancery or for which the Court of Chancery does not have subject matter jurisdiction. This forum selection provision
may limit our stockholders' ability to bring a claim in a judicial forum that they find favorable for disputes with us or
our directors, officers, employees or agents, which may discourage such lawsuits against us and our directors, officers, employees
and agents even though an action, if successful, might benefit our stockholders.
Our amended and restated
bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders,
including proposed nominations of persons for election to our board of directors. At an annual meeting, stockholders may only
consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of our
board of directors. Stockholders may also consider a proposal or nomination by a person who was a stockholder at the time of giving
notice and at the time of the meeting, who is entitled to vote at the meeting and who has complied with the notice requirements
of our amended and restated bylaws in all respects. The amended and restated bylaws do not give our board of directors the power
to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at a special
or annual meeting of our stockholders. However, our amended and restated bylaws may have the effect of precluding the conduct
of certain business at a meeting if the proper procedures are not followed. These provisions may also discourage or deter a potential
acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting
to obtain control of our company.
Our amended and restated
bylaws provide that a special meeting of our stockholders may be called only by our Secretary and at the direction of our board
of directors by resolution adopted by a majority of our board of directors. Because our stockholders do not have the right to
call a special meeting, a stockholder could not force stockholder consideration of a proposal over the opposition of our board
of directors by calling a special meeting of stockholders prior to such time as a majority of our board of directors, the chairperson
of our board of directors, the president or the chief executive officer believed the matter should be considered or until the
next annual meeting
provided
that the requestor met the notice requirements. The restriction on the ability of stockholders
to call a special meeting means that a proposal to replace our board of directors also could be delayed until the next annual
meeting.
Our amended and restated
bylaws do not allow our stockholders to act by written consent without a meeting. Without the availability of stockholder action
by written consent, a holder controlling a majority of our capital stock would not be able to amend our amended and restated bylaws
or remove directors without holding a stockholders' meeting.
44
Anti-Takeover Effects of Delaware Law
We are subject to
the provisions of Section 203 of the General Corporation Law, or Section 203. Under Section 203, we would generally be prohibited
from engaging in any business combination with any interested stockholder for a period of three years following the time that
this stockholder became an interested stockholder unless:
●
prior to
                                         this time, our board of directors approved either the business combination or the transaction
                                         that resulted in the stockholder becoming an interested stockholder;
●
upon consummation
                                         of the transaction that resulted in the stockholder becoming an interested stockholder,
                                         the interested stockholder owned at least 85% of our voting stock outstanding at the
                                         time the transaction commenced, excluding shares owned by persons who are directors and
                                         also officers, and by employee stock plans in which employee participants do not have
                                         the right to determine confidentially whether shares held subject to the plan will be
                                         tendered in a tender or exchange offer; or
●
at or subsequent
                                         to such time, the business combination is approved by our board of directors and authorized
                                         at an annual or special meeting of stockholders, and not by written consent, by the affirmative
                                         vote of at least 66 and 2/3% of the outstanding voting stock that is not owned by the
                                         interested stockholder.
Under Section 203,
a "business combination" includes:
●
any merger
                                         or consolidation involving the corporation and the interested stockholder;
●
any sale,
                                         transfer, pledge or other disposition of 10% or more of the assets of the corporation
                                         involving the interested stockholder;
●
any transaction
                                         that results in the issuance or transfer by the corporation of any stock of the corporation
                                         to the interested stockholder, subject to limited exceptions;
●
any transaction
                                         involving the corporation that has the effect of increasing the proportionate share of
                                         the stock of any class or series of the corporation beneficially owned by the interested
                                         stockholder; or
●
the receipt
                                         by the interested stockholder of the benefit of any loans, advances, guarantees, pledges
                                         or other financial benefits provided by or through the corporation.
In general, Section
203 defines an interested stockholder as an entity or person beneficially owning 15% or more of the outstanding voting stock of
the corporation and any entity or person affiliated with or controlling or controlled by such entity or person.
The provisions of
Delaware law and our amended and restated certificate of incorporation and amended and restated bylaws could have the effect of
discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the
market price of our common stock that often result from actual or rumored hostile takeover attempts. These provisions may also
have the effect of preventing changes in management. It is possible that these provisions may make it more difficult to accomplish
transactions that stockholders may otherwise deem to be in their best interests.
Following such time,
if any, as our capital stock is listed on a national securities exchange or is held of record by more than 2,000 stockholders,
we will be subject to the provisions of Section 203 of the Delaware General Corporation Law, as amended.
Limitations of Liability and Indemnification Matters
For a discussion of
liability and indemnification, please see the section titled "Directors and Executive Officers—Limitation of Liability
and Indemnification."
Transfer Agent
Our transfer agent
is Continental Stock Transfer & Trust Company, or CST. CST's address is 1 State Street 30th Floor, New York, NY 10004-1561
and its telephone number is 212.845.3215.
LEGAL MATTERS
The validity of the
shares of our common stock being offered by this prospectus will be passed upon for us by Dorsey & Whitney LLP.
EXPERTS
The financial statements included in this prospectus have been audited by Deloitte & Touche LLP, an
independent registered public accounting firm, as stated in their report appearing herein, which report expresses an unqualified
opinion on the financial statements and includes an explanatory paragraph referring to the ability of the company to remain a going
concern. Such financial statements are included in reliance upon the report of such firm given upon their authority as experts
in accounting and auditing.
45
WHERE YOU CAN
FIND MORE INFORMATION
We have filed with
the SEC this registration statement on Form S-1 under the Securities Act with respect to the shares of common stock being offered
by this prospectus. This prospectus, which constitutes a part of this registration statement, does not contain all of the information
in this registration statement and its exhibits. For further information with respect to us and the common stock offered by this
prospectus, you should refer to this registration statement and the exhibits filed as part of that document. Statements contained
in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each
instance, we refer you to the copy of the contract or other document filed as an exhibit to this registration statement. Each
of these statements is qualified in all respects by this reference.
We are subject to
the informational requirements of the Exchange Act and file annual, quarterly and current reports, proxy statements and other
information with the SEC. You can read our SEC filings, including this registration statement, over the Internet at the SEC's
website at http://www.sec.gov. You may also read and copy any document we file with the SEC at its public reference facilities
at 100 F Street, N.E., Washington, D.C. 20549. You may also obtain copies of these documents at prescribed rates by writing to
the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for
further information on the operation of the public reference facilities. You may also request a copy of these filings, at no cost,
by writing or telephoning us at: 205 East Washington Street, Suite B, Ann Arbor, MI 48104, (650) 516-7633.
46
INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS
For the Six Months ended June 30, 2018 and Period from November 14, 2017 (date of incorporation) through December 31, 2017
Report of Independent Registered Public Accounting Firm
F-2
Consolidated Balance Sheets
F-3
Consolidated Statements of
Operations
F-4
Consolidated Statements of Stockholders' Equity
F-5
Consolidated Statements of Cash Flows
F-6
Notes to the Consolidated Financial Statements
F-7
For the Three Months
and Nine Months
ended March 31, 2019
Condensed Consolidated Balance Sheets
(Unaudited)
F-15
Condensed Consolidated Statements of Operations (Unaudited)
F-16
Condensed Consolidated Statements of
Stockholders' Equity (Unaudited)
F-17
Condensed Consolidated Statements of Cash Flows (Unaudited)
F-18
Notes to Condensed Consolidated Financial Statements
F-19
F-
1
REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
To the Board of Directors of Amesite Inc.
205 East Washington Street
Unit B
Ann Arbor, MI 48104
Opinion on the Financial Statements
We have audited the accompanying consolidated
balance sheets of Amesite Inc. (the "Company") as of June 30, 2018, and December 31, 2017, and the related consolidated
statements of operations, stockholders' equity, and cash flows, for the periods from January 1, 2018 through June 30, 2018, and
November 14, 2017 (date of incorporation) through December 31, 2017, and the related notes (collectively referred to as the "financial
statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of
the Company as of June 30, 2018, and December 31, 2017, and the results of its operations and its cash flows for the period from
January 1, 2018 through June 30, 2018, and November 14, 2017 (date of incorporation) through December 31, 2017, in conformity
with accounting principles generally accepted in the United States of America.
Going Concern
The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements,
the company has incurred losses since inception, is still in the early stages of developing its service platform, and has not
completed its efforts to establish a stabilized source of revenues sufficient to cover costs over an extended period of time,
which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters
are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty.
Basis for Opinion
These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits.
We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide
a reasonable basis for our opinion.
/s/ Deloitte and Touche LLP
Detroit, MI
August 17, 2018
We have served as the Company's auditor since 2017.
F-
2
Amesite,
Inc.
Consolidated
Balance Sheets
June 30, 2018 and
December 31, 2017
2018
2017
Assets
Current Assets
Cash
$
4,274,116
$
-
Other receivable
5,000
-
Prepaid expenses and other current assets
53,609
-
Property and Equipment
- Net (Note 4)
95,706
12,655
Capitalized Software Costs
99,000
-
Security
    Deposit
(Note 9)
5,000
5,000
Total assets
$
4,532,431
$
17,655
Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable
$
5,264
$
-
Advances from stockholder (Note 8)
1,065
28,728
Accrued and other current liabilities: (Note 8)
Accrued compensation
47,674
-
Accrued subcontractor fees
16,915
13,500
Accrued professional fees
172,340
2,500
Other accrued liabilities
9,994
3,992
Total liabilities
253,252
48,720
Stockholders' Equity:
Common stock, $.0001 par value; 50,000,000 shares authorized;
    12,750,307 and 5,833,333 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively (Note 5)
1,275
583
Preferred stock, $.0001 par value; 5,000,000 shares
    authorized; no shares issued and outstanding at June 30, 2018 or December 31, 2017 (Note 5)
-
-
Additional paid-in capital
4,799,471
(183
)
Accumulated deficit
(521,567
)
(31,465
)
Total stockholders' equity
4,279,179
(31,065
)
Total liabilities and stockholders'
    equity
$
4,532,431
$
17,655
See
notes to consolidated financial statements.
F-
3
Amesite,
Inc.
Consolidated
Statements of Operations
Six
Months Ended June 30, 2018 and Period from November 14, 2017 (date of incorporation) through December 31, 2017
2018
2017
Operating Expenses
General and administrative expenses
$
35,096
$
6,564
Subcontract development services
39,362
16,990
Travel expenses
3,155
1,938
Office rent
26,609
5,973
Professional fees
316,516
-
Payroll and related expenses
69,364
-
Total operating expenses
490,102
31,465
Net Loss
$
(490,102
)
$
(31,465
)
Earnings
    per Share
Basic
    earnings per share
$
(.06
)
$
(.01
)
Weighted
    average shares outstanding
8,094,756
5,833,333
See
notes to consolidated financial statements.
F-
4
Amesite,
Inc.
Consolidated
Statement of Stockholders' Equity (Deficit)
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Total
Balance
- November 14, 2017
$
-
$
-
$
-
$
-
Net loss
-
-
(31,465
)
(31,465
)
Common stock issued
583
(183
)
-
400
Balance
- December 31, 2017
583
(183
)
(31,465
)
(31,065
)
Net loss
-
-
(490,102
)
(490,102
)
Recapitalization
310
(33,452
)
-
(33,142
)
Common stock issued in connection with offerings -
    Net of issuance costs of $764,036
382
4,652,304
-
4,652,686
Stock option compensation expense
-
180,802
-
180,802
Balance
- June 30, 2018
$
1,275
$
4,799,471
$
(521,567
)
$
4,279,179
See
notes to consolidated financial statements.
F-
5
Amesite,
Inc.
Consolidated
Statements of Cash Flows
Six
Months Ended June 30, 2018 and Period from November 14, 2017 (date of incorporation) through December 31, 2017
2018
2017
Cash Flows from Operating Activities
Net loss
$
(490,102
)
$
(31,465
)
Adjustments to reconcile net loss to net cash from
    operating activities:
Depreciation
1,367
245
Stock option expense
180,802
-
Changes in operating assets and liabilities which (used)
    provided cash:
Prepaid expenses and other assets
(58,609
)
(5,000
)
Accounts payable
5,264
-
Accrued and other liabilities
226,931
19,992
Net cash used in operating activities
(134,347
)
(16,228
)
Cash Flows from Investing Activities
Purchase of property and equipment
(84,418
)
(12,900
)
Investment in capitalized software
(99,000
)
-
Net cash used in investing activities
(183,418
)
(12,900
)
Cash Flows from Financing Activities
Repayment of note to Lola One stockholder
(33,142
)
-
Net (repayments to) advances from stockholder
(27,663
)
28,728
Issuance of common stock - net
    of offering costs
4,652,686
400
Net cash provided by financing
    activities
4,591,881
29,128
Net Increase in Cash
4,274,116
-
Cash
- Beginning of year
-
-
Cash
- End of year
$
4,274,116
$
-
Significant Noncash Transactions
Assumption of Lola One liabilities concurrent with
    merger - as part of the merger, Lola One note payable of $33,452 was assumed and recorded in additional paid-in-capital, net
    of common stock issued
$
33,142
$
-
See
notes to consolidated financial statements.
F-
6
Amesite, Inc.
Notes to Consolidated Financial Statements
June 30, 2018 and December 31, 2017
Note
1 - Nature of Business
Amesite,
Inc. (the "Company") was formed in 2017 and is a development stage artificial intelligence software company targeting
the college course market.
On April 27, 2018, pursuant
to an Agreement and Plan of Merger and Reorganization (the "Merger"), Lola One Acquisition Sub, Inc. merged with and
into Amesite Operating Company, with Amesite Operating Company remaining as the surviving entity and a wholly-owned operating
subsidiary of Lola One Acquisition Company ("Lola One"). Following the Merger, Lola One changed its name to "Amesite,
Inc." and changed its fiscal year end to June 30.
Through
June 30, 2018, the Company had yet to generate revenue from its services and products. The Company's activities are subject
to significant risks and uncertainties, including failure to secure additional funding to execute the current business plan.
Note
2 - Significant Accounting Policies
Basis
of Presentation
The
Merger was accounted for as a reverse recapitalization, with Amesite Operating Company considered the acquirer for accounting
purposes. The consolidated financial statements of the Company reflect the historical operations of Amesite Operating Company
before the Merger.
The
Company's fiscal year ends June 30. As a result of the change in fiscal year end disclosed in Note 1, the financial statements
presented cover the six months ended June 30, 2018 and the period from November 14, 2017, (inception of Amesite Operating Company)
to December 31, 2017.
The
consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted
in the United States of America ("GAAP") and considering the requirements of the Securities and Exchange Commission
("SEC").
Principles
of Consolidation
The
consolidated financial statements of the Company include the accounts of Amesite, Inc. and its wholly owned subsidiary, Amesite
Operating Company. All material intercompany accounts and transactions have been eliminated in consolidation.
Use
of Estimates
The
preparation of consolidated 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 and disclosure of contingent assets
and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the
reporting period. Actual results could differ from those estimates.
Fair
Value Measurements
Accounting
standards require certain assets and liabilities be reported at fair value in the financial statements and provide a framework
for establishing that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the inputs
and valuation techniques used to measure fair value.
Fair
values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities that the Company has
the ability to access.
Fair
values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs
include quoted prices for similar assets and liabilities in active markets and other inputs such as interest rates and yield curves
that are observable at commonly quoted intervals.
F-
7
Amesite, Inc.
Notes to Consolidated
Financial Statements
June 30, 2018 and December 31, 2017
Note 2 - Significant
Accounting Policies (Continued)
Level
3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity
for the related asset. These Level 3 fair value measurements are based primarily on management's own estimates using pricing
models, discounted cash flow methodologies, or similar techniques.
In
instances whereby inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements
in their entirety are categorized based on the lowest level input that is significant to the valuation. The Company's assessment
of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to
each asset or liability.
Cash
Cash
consists of cash on deposit with a bank. The total amount of bank deposits (checking and savings accounts) that was insured by
the FDIC at year end was $250,000.
Property
and Equipment
Property
and equipment are recorded at cost. The straight-line method is used for computing depreciation. Assets are depreciated over their
estimated useful lives (primarily three to seven years). Costs of maintenance and repairs are charged to expense when incurred.
Depreciable
Life - Years
Leasehold
    improvements
Shorter
    of estimated lease term or 10 years
Furniture
    and fixtures
7 years
Computer
    equipment and software
5 years
Capitalized
Software Costs
The Company capitalizes significant
costs incurred in the development of software for internal use, including the costs of the software, materials, consultants, and
payroll and payroll-related costs for employees incurred in developing internal use computer software once final selection of
the software is made. Costs incurred prior to the final selection of software and costs not qualifying for capitalization are
charged to expense. There was no amortization expense of capitalized software costs during the periods ended June 30, 2018 or
December 31, 2017 as the software was not yet completed.
Income
Taxes
A
current tax liability or asset is recognized for the estimated taxes payable or refundable on tax returns for the year. Deferred
tax liabilities or assets are recognized for the estimated future tax effects of temporary differences between financial reporting
and tax accounting.
Deferred
tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets
will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income
in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in the consolidated statement of operations in the period that includes the
enactment date.
Risks
and Uncertainties
The
Company intends to operate 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.
F-
8
Amesite, Inc.
Notes to Consolidated
Financial Statements
June 30, 2018 and December 31, 2017
Note
2 - Significant Accounting Policies (Continued)
The accompanying consolidated
financial statements have been prepared assuming that the Company will continue as a going concern.
The Company has incurred losses
since inception, is still in the early stages of developing its service platform, and has not completed its efforts to establish
a stabilized source of revenues sufficient to cover costs over an extended period of time. These factors raise substantial doubt
about the our ability to continue as a going concern. The Company's ability to continue as a going concern is dependent
on its ability to raise additional capital and implement its business plan. Despite management's ongoing efforts, there
are no assurances that the Company will be successful in this or any of its endeavors or become financially viable. These financial
statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should the Company be unable to continue as a going concern.
Research
and Development
Research
and development expenditures are charged to expense as incurred. Research and development expense of approximately $39,000 and
$17,000 were charged to expense during the periods ended June 30, 2018 and December 31, 2017, respectively.
Net
Loss per Share
Basic
net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common
shares outstanding during the period. Diluted loss per share includes potentially dilutive securities such as outstanding options
and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive
shares outstanding during each reporting period. For the period ended June 30, 2018, the Company had 1,288,195 and 292,114 potentially
dilutive shares of common stock related to common stock options and common stock warrants, respectively, as determined using the
if-converted method and no potentially dilutive securities for the period ended December 31, 2017. For the periods ending June
30, 2018 and December 31, 2017, the dilutive effect of common stock options and common stock warrants has not been included in
the average shares outstanding for the calculation of net loss per share as the effect would be anti-dilutive as a result of our
net losses in these periods.
Stock-Based
Payments
ASC
Topic 718 "Compensation-Stock Compensation" requires companies to measure the cost of employee services received in
exchange for the award of equity instruments based on the estimated fair value of the award at the date of grant. The expense
is to be recognized over the period during which an employee is required to provide services in exchange for the award. The Company
accounts for shares of common stock, stock options and warrants issued to employees based on the fair value of the stock, stock
option or warrant, if that value is more reliably measurable than the fair value of the consideration or services received.
The Company accounts for stock
options and restricted stock issued to non-employees in accordance with the Financial Account Standards Board ("FASB")
Accounting Standards Codification ("ASC") Subtopic 505-50 "Equity-Based Payments to Non-Employees". Accordingly,
the fair value of the stock compensation issued to non-employees is based upon the measurement date as determined at the earlier
of either a) the date at which a performance commitment is reached, or b) the date which the necessary performance to earn the
equity instruments is complete. As a measurement date has not yet been reached for the stock options outstanding held by non-employees,
the Company remeasures these outstanding options to fair value at each reporting period. The measurement date for all restricted
stock to compensate non-employees for consulting services may not be reached until the contractual end of the contract in September
2019. Accordingly, the Company has estimated the fair value of those services performed through June 30, 2018, and recorded an
expense in the consolidated statements of operations.
Upcoming
Accounting Pronouncements
In
May 2014, the FSB issued ASU No. 2014-09,
Revenue from Contracts with Customers (Topic 606)
, which will supersede the current
revenue recognition requirements in Topic 605,
Revenue Recognition
. The ASU is based on the principle that revenue is recognized
to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects
to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount,
timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes
in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance will be effective for
the Company's year ending June 30, 2020. The ASU permits application of the new revenue recognition guidance to be applied
using one of two retrospective application methods. The Company is still determining which method it will apply and whether it
will adopt the standard prior to the effective date. The standard is not expected to have a significant impact on the consolidated
financial statements.
F-
9
Amesite, Inc.
Notes to Consolidated
Financial Statements
June 30, 2018 and December 31, 2017
Note 2 - Significant Accounting Policies
(Continued)
The
FASB issued ASU 2016-02,
Leases
, which will supersede the current lease requirements in ASC 840. The ASU requires lessees
to recognize a right-to-use asset and related lease liability for all leases, with a limited exception for short-term leases.
Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition
in the statement of operations. Currently, leases are classified as either capital or operating, with only capital leases recognized
on the balance sheet. The reporting of lease-related expenses in the statements of operations and cash flows will be generally
consistent with the current guidance. The new lease guidance will be effective for the Company's year ending June 30, 2021
and will be applied using a modified retrospective transition method to the beginning of the earliest period presented. The new
lease standard is expected to have a significant effect on the Company's financial statements as a result of the Company's
operating leases, as disclosed in Note 9, that will be reported on the balance sheet at adoption. Upon adoption, the Company will
recognize a lease liability and corresponding right-to-use asset based on the present value of the minimum lease payments. The
effects on the results of operations are not expected to be significant as recognition and measurement of expenses and cash flows
for leases will be substantially the same under the new standard.
Note
3 - Reverse Recapitalization
Prior
to the Merger, Lola One was a "shell" company registered under the Securities Exchange Act of 1934, as amended, with
no specific business plan or purpose. Accordingly, the Merger is accounted for as a reverse recapitalization, with Amesite Operating
Company considered the acquirer for accounting purposes.
As
part of the Merger described in Note 1, the Company issued an aggregate of 5,833,333 shares of common stock in exchange for 100
percent of the outstanding and issued shares of Amesite Operating Company common stock. In addition, awards of stock options to
purchase 650,000 shares of Amesite Operating Company's common stock issued and outstanding immediately prior to the closing
of the Merger were assumed and converted into options, with equivalent terms, to purchase 947,917 shares of common stock of the
Company.
The reverse recapitalization
presented in the Statement of Stockholders' Equity reflects the net result of the shares exchanged at fair value and the
3,100,000 shares of common stock of the Company issued and outstanding prior to the Merger. A note payable Lola One had outstanding
prior to the Merger, which was repaid during the period ended June 30, 2018, was recorded in additional paid-in capital. No other
consideration was provided to Lola One as part of the reverse recapitalization.
Note
4 - Property and Equipment
Property
and equipment are summarized as follows:
June 30,
2018
December 31,
2017
Leasehold improvements
$
47,129
$
-
Furniture and fixtures
27,488
11,057
Computer equipment and software
22,701
1,843
Total cost
97,318
12,900
Accumulated depreciation
1,612
245
Net property and equipment
$
95,706
$
12,655
Depreciation
expense for periods ended June 30, 2018 and December 31, 2017 was $1,367 and $245, respectively.
F-
10
Amesite, Inc.
Notes to Consolidated Financial Statements
June 30, 2018 and December 31, 2017
Note 5 - Capital Stock
The Company issued
an aggregate of 2,921,145 shares of common stock pursuant to closings of a private placement on April 27, 2018 and also on June
8, 2018, at the sale price of $1.50 per share. The aggregate gross proceeds were approximately $4.4 million.
In connection with
the private placement, the Company agreed to compensate the U.S. registered broker-dealer (the "Placement Agent" with
(i) a cash commission of 10 percent of the gross proceeds raised from investors in the private placement introduced by them, and
(ii) warrants to purchase that number of shares of common stock equal to 10 percent of the number of shares of common stock sold
to investors in the private placement introduced by them. Accordingly, the $438,172 cash commission paid and warrants with a fair
value of $203,615 issued to the Placement Agent to purchase up to an aggregate of 292,114 shares of common stock in the Company
are included in issuance costs in the Statement of Stockholders' Equity.
Concurrent with
the closing of the private placement, former shareholders of Amesite Operating Company purchased 895,829 shares of common stock
of the Company at a price of $1.20 per share for aggregate gross proceeds of approximately $1 million.
The capital structure
of the Company includes 50,000,000 authorized shares of common stock with a par value of $0.0001 per share and 5,000,000 authorized
shares of preferred stock with a par value of $0.0001 per share.
As of June 30, 2018,
there were 12,750,307 and 0 shares of common stock and preferred stock, respectively, issued and outstanding.
As of December 31,
2017, there were 5,833,333 and 0 shares of common stock and preferred stock, respectively, issued and outstanding. See Note 3
for additional information.
Note 6 - Warrants
On April 27, 2018
and June 8, 2018, the Company issued 212,665 and 79,449 common stock warrants, respectively, to the Placement Agent related to
fundraisings. The warrants have a term of five years from the closing date of the private placements and an exercise price of
$1.50 per share. The Company measures the warrants using the Black-Scholes Model ("BSM") to estimate their fair value.
The warrants are
classified in stockholders' equity of the Company.
The fair value of
the warrants issued during the year was $203,615 based on the following inputs and assumptions using the BSM: (i) expected stock
price volatility of 44.50%; (ii) risk-free interest rate of 2.86%; and (iii) expected life of warrants of 6 years.
The weighted-average
exercise price of all warrants outstanding as of June 30, 2018 was $1.50 per share.
F-
11
Amesite, Inc.
Notes to Consolidated Financial Statements
June 30, 2018 and December 31, 2017
Note 7 - Stock-Based Compensation
The Company's
2018 Equity Incentive Plan was adopted as part of the Merger (the "2018 Plan"), which replaced the 2017 Equity Incentive
Plan ("2017 Plan") that existed prior to the Merger. There were no outstanding option grants as of December 31, 2017
under the 2017 Plan and no expense recognized during the period ended December 31, 2017. During 2018, the Company granted options
and restricted stock units under the 2017 Plan, all of which converted to options and restricted stock units under the 2018 Plan
in the Merger. The terms of the 2018 Plan are equivalent to those of the 2017 Plan.
The 2018 Plan permits the grant
of stock options, stock appreciation rights, restricted stock, or restricted stock units to officers, employees, directors, consultants,
agents, and independent contractors of the Company. The Company believes that such awards better align the interests of its employees,
directors, and consultants with those of its stockholders. Option awards are generally granted with an exercise price equal to
the market price of the Company's stock at the date of grant; those option awards generally vest over two years from the
grant date and generally have ten-year contractual terms. Certain option awards provide for accelerated vesting (as defined in
the 2018 Plan).
During the six months
ended June 30, 2018, no awards were granted under the 2018 Plan. 2,529,000 shares of common stock will be available for awards
granted under the 2018 Plan, inclusive of 947,917 shares subject to options originally granted to non-employees under the 2017
Equity Incentive Plan ("2017 Plan"), converted to options under the 2018 plan in the Merger.
The Company estimates
the fair value of each option award using a BSM that uses the weighted-average assumptions included in the table below. Expected
volatilities are based on historical volatility of comparable companies. The Company uses historical data to estimate option exercise
within the valuation model, or estimates the expected option exercise when historical data is unavailable. The risk-free rate
for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.
The Company has not paid any dividends on common stock since its inception and does not anticipate paying dividends on its common
stock in the foreseeable future. When calculating the amount of annual compensation expense, the Company has elected not to estimate
forfeitures and instead accounts for forfeitures as they occur.
A summary of option
activity for the six months ended June 30, 2018 is presented below:
Options
Number
    of Shares
Weighted
    Average Exercise Price
Weighted
                                         Average Remaining Contractual Term
(in
                                         years)
Total
    Shares
Outstanding at December 31, 2017
-
$
-
-
Granted
947,917
1.50
10.0
947,917
Outstanding at June 30, 2018
947,917
1.50
947,917
The weighted-average grant-date
fair value of options granted during the six months ended June 30, 2018 was $0.70. The options contained time-based vesting conditions
satisfied over a period of two years from the grant date.
As of June 30, 2018, there was
approximately $582,000 of total unrecognized compensation cost related to nonvested options. That cost is expected to be recognized
over a weighted-average period of 1.75 years.
The Company recognized $180,802
in expense related to the 2018 Plan for the period ended June 30, 2018, composed of $102,084 for consulting services to be settled
in restricted shares and $78,718 related to nonqualified stock options granted to non-employees.
On July 13, 2018, the Company
issued 340,278 shares of restricted common stock under the 2018 Plan to non-employees in exchange for consulting services provided
to the Company. As of June 30, 2018, there was approximately $306,000 of total unrecognized compensation cost related to unrendered
services. That cost is expected to be recognized over the remaining contractual period of approximately 1.25 years.
Note 8 - Related Party Transactions
The following is
a description of transactions between the Company and related parties:
Advances from
stockholder
As of June 30, 2018
and December 31, 2017, the Company had outstanding advances from a stockholder totaling $1,065 and $28,728, respectively. Advances
from a stockholder of $210,564 and $28,728 to fund certain costs were received during the period ended June 30, 2018 and December
31, 2017, respectively. The Company repaid most of these advances during the period ended June 30, 2018.
F-
12
Amesite, Inc.
Notes to Consolidated Financial Statements
June 30, 2018 and December 31, 2017
Note 9 - Operating Lease
The Company is obligated
under an operating lease primarily for its offices. The lease requires the Company to pay insurance, utilities, and shared maintenance
costs in addition to the monthly rent of $3,733. A refundable security deposit of $5,000 was also required as part of the lease.
The lease expires in May, 2019 and has a one year renewal option. Total rent expense under the lease was $26,609 and $5,973 for
the periods ended June 30, 2018 and December 31, 2017, respectively. The future minimum annual commitments under this operating
lease are $37,333 through June 30, 2019.
Note 10 - Income Taxes
The Company has
incorporated as a taxable corporation for tax purposes. The Company files income tax returns in the U.S. federal and State of
Michigan jurisdictions. For the six months ended June 30, 2018 and period from inception through December 31, 2017, the Company's
activities have not generated any taxable income or tax liabilities. Accordingly, a full valuation allowance has been recognized
against any tax expense, provision or deferred tax benefits.
A reconciliation
of the provision for income taxes to income taxes computed by applying the statutory United States federal rate to income before
taxes is as follows:
2018
2017
Income tax expense (recovery),
    computed at 34 percent of pretax income (loss)
$
(102,921
)
$
(10,698
)
Effect of nondeductible
    expenses
191
56
Changes to statutory
    tax rates
4,069
-
Change
    in valuation allowance
98,662
10,642
Total
    provision for income taxes
$
1
$
-
The income tax provision
differs from the expense that would result from applying statutory rates to income before income taxes as a result of adjustments
to the valuation allowance, expenses that are not deductible for tax purposes and the reduction in the federal income tax rate
from 34 percent to 21 percent.
The details of the
net deferred tax asset (liability) are as follows:
2018
2017
Deferred tax assets:
Depreciation
$
339
$
83
Start-up
    and organizational costs
68,077
4,782
Stock
    compensation expense
16,530
-
Net
    operating loss carryforward
24,358
5,777
Gross
    deferred tax assets
109,304
10,642
Valuation
    allowance recognized for deferred tax assets
(109,304
)
(10,642
)
Net
    deferred tax assets
$
-
$
-
Deferred tax assets
result primarily from various start-up operating costs that will be deductible when the Company is deemed to have begun trade
or business, as well as net operating losses. The Company has approximately $116,000 of net operating loss carryforwards available
to reduce future income taxes, of which approximately $17,000 of net operating loss carryforwards expire in 2037. Due to uncertainty
as to the realization of the net operating loss carryforwards and other deferred tax assets as a result of its limited operating
history and operating losses since inception, a full valuation allowance has been recorded against the Company's deferred
tax assets.
The Company does not have any
material unrecognized tax benefits as of June 30, 2018 or December 31, 2017. The Company's conclusions regarding uncertain
tax positions may be subject to review and adjustment at a later based upon ongoing analyses of tax laws, regulations, and interpretations
thereof as well as other factors.
If applicable, the Company would
classify any potential interest and penalties related to possible future liabilities for unrecognized income tax benefits as part
of income taxes in the accompanying consolidated financial statements. No interest or penalties were recorded during the periods
ended June 30, 2018 or December 31, 2017.
On December 22, 2017 the Tax
Cuts and Jobs Act was signed into law effective December 31, 2017. The reduction of the corporate tax rates decreased the valuation
of net deferred tax assets by approximately $4,000 at December 31, 2017.
F-
13
Amesite, Inc.
Notes to Consolidated Financial Statements
June 30, 2018 and December 31, 2017
Note 11 - Subsequent Events
On July 13, 2018,
the Company issued 340,278 restricted shares of common stock in exchange for consulting services provided during the period ended
June 30, 2018, and for future services unrendered. The expense of the restricted share grant will be expensed ratably over the
term of the consulting contract. The restricted shares are subject to various provisions that prevent the stockholders from selling,
transferring or pledging the shares until the earlier of twelve months after the Company's common stock is quoted and traded
on a public exchange or October 1, 2019.
On July 23, 2018,
the Company issued 70,000 stock options to purchase common stock to employees with an exercise price of $1.50, vesting over a
period of four years from the commencement date. The Company also issued 109,000 stock options to purchase common stock to a consultant,
with an exercise price of $1.50, vesting over a period of four years from the commencement date.
F-
14
Amesite, Inc.
Condensed
Consolidated Balance Sheets (unaudited)
March 31,
2019
June 30,
2018
Assets
Current Assets
Cash and cash equivalents
$
2,092,022
$
4,274,116
Accounts receivable
2,831
-
Other receivable
-
5,000
Prepaid expenses and other current assets
44,020
53,609
Property and Equipment
- Net
97,434
95,706
Capitalized Software Costs
- Net
786,412
99,000
Security Deposit
(Note 5)
5,000
5,000
Total assets
$
3,027,719
$
4,532,431
Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable
$
125,661
$
5,264
Advances from stockholder
-
1,065
Accrued and other current liabilities:
Accrued compensation
223,368
47,674
Accrued subcontractor fees
13,950
16,915
Accrued professional fees
54,536
172,340
Other accrued liabilities
24,043
9,994
Total liabilities
441,558
253,252
Stockholders' Equity:
Common stock, $.0001 par value; 100,000,000 shares
    authorized; 13,090,585 and 12,750,307 shares issued and outstanding at March 31, 2019 and June 30, 2018, respectively
1,309
1,275
Preferred stock, $.0001 par value; 5,000,000 shares authorized; no
    shares issued and outstanding at March 31, 2019 and June 30, 2018
-
-
Additional paid-in capital
5,253,776
4,799,471
Accumulated deficit
(2,668,924
)
(521,567
)
Total stockholders' equity
2,586,161
4,279,179
Total liabilities and stockholders' equity
$
3,027,719
$
4,532,431
F-
15
Amesite, Inc.
Condensed
Consolidated Statement of Operations (unaudited)
Three Months Ended
March 31,
2019
Three Months
Ended March 31,
2018
Nine Months Ended
March 31,
2019
November 14,
2017 (date of
incorporation)
through
March 31,
2018
Net Sales
$
2,831
$
-
$
3,576
$
-
Operating Expenses
General and administrative expenses
121,679
23,969
272,281
47,523
Contract services
56,970
26,778
151,437
26,778
Travel expenses
4,285
2,746
27,561
4,684
Office rent
17,512
11,200
52,541
17,173
Professional fees
121,268
48,567
410,728
48,567
Payroll and related expenses
643,604
-
1,259,873
-
Total operating expenses
965,318
113,260
2,174,421
144,725
Interest Income
14,226
-
23,488
-
Net Loss
$
(948,261
)
$
(113,260
)
$
(2,147,357
)
$
(144,725
)
Earnings per Share
Basic earnings per share
$
(0.07
)
$
(0.03
)
$
(0.16
)
$
(0.02
)
Weighted average shares outstanding
13,090,585
5,833,333
13,075,628
5,833,333
F-
16
Amesite, Inc.
Condensed
Consolidated Statement of Stockholders' Equity (unaudited)
Common
Stock
Additional
Paid-In
Capital
Accumulated
Deficit
Total
Balance – June 30, 2018
$
1,275
$
4,799,471
$
(521,567
)
$
4,279,179
Net loss
-
-
(641,486
)
(641,486
)
Issuance of restricted common stock
34
(34
)
-
-
Stock compensation expense
-
148,241
-
148,241
Balance – September 30, 2018
$
1,309
$
4,974,678
$
(1,163,053
)
$
3,785,934
Net loss
-
-
(557,610
)
(557,610
)
Stock compensation expense
-
153,726
-
153,726
Balance – December 31, 2018
$
1,309
$
5,101,404
$
(1,720,663
)
$
3,382,050
Net Loss
-
-
(948,261
)
(948,261
)
Stock compensation expense
-
152,372
-
152,372
Balance – March 31, 2019
$
1,309
5,253,776
$
(2,668,924
)
$
2,586,161
Common
Stock
Paid-In
Capital
Accumulated
Deficit
Total
November 14, 2017
$
-
$
-
$
-
$
-
Net loss
-
-
(31,465
)
(31,465
)
Issuance
–
November 14, 2017
400
-
-
400
Balance – December 31, 2017
400
-
(31,465
)
(31,065
)
Net Loss
-
-
(113,260
)
(113,260
)
Stock compensation expense
-
18,640
-
18,640
Balance – March 31, 2018
400
18,640
(144,725
)
(125,685
)
F-
17
Amesite, Inc.
Condensed
Consolidated Statement of Cash Flows (unaudited)
Nine Months Ended
March 31,
2019
November 14,
2017 (date of
incorporation)
through
March 31,
2018
Cash Flows from Operating Activities
Net loss
$
(2,147,357
)
$
(144,725
)
Adjustments to reconcile net loss to net cash and
    cash equivalents from operating activities:
Depreciation and amortization
79,860
732
Stock compensation expense
454,339
18,640
Changes in operating assets and liabilities which (used) provided cash:
Accounts Receivable
(2,831
)
(18,000
)
Prepaid expenses and other assets
14,589
-
Accounts payable
120,397
-
Accrued compensation
175,694
-
Accrued and other liabilities
(106,720
)
298,589
Deferred offering costs
-
(215,256
)
Net cash and cash equivalents used in operating activities
(1,412,029
)
(60,020
)
Cash Flows from Investing Activities
Purchase of property and equipment
(29,490
)
(12,900
)
Investment in capitalized software
(739,510
)
-
Net cash and cash equivalents used in investing activities
(769,000
)
(12,900
)
Cash Flows from Financing Activities
Net repayments to stockholder
(1,065
)
91,856
Issuance of common stock - net of offering costs
-
400
Net cash and cash equivalents (used in) provided
    by financing activities
(1,065
)
92,256
Net Increase (Decrease) in Cash and Cash Equivalents
(2,182,094
)
19,336
Cash and Cash Equivalents
- Beginning of period
4,274,116
-
Cash and Cash Equivalents
- End of period
$
2,092,022
$
19,336
Significant Noncash Transactions
- Acquisition of capitalized software included in accounts payable and accrued liabilities
75,100
F-
18
Amesite, Inc.
Notes
to Condensed Consolidated Financial Statements
Note 1—Nature of Business
Amesite, Inc. (the "Company")
was formed in November 2017 and is a development stage artificial intelligence software company targeting the college course market.
During the nine month period
ended March 31, 2019, the Company began generating revenue from its services and products. The Company's activities are
subject to significant risks and uncertainties, including failure to secure additional funding to execute the current business
plan.
Note 2
—
Significant
Accounting Policies
Basis of Presentation
The condensed consolidated financial
statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States
of America ("GAAP") and considering the requirements of the United States Securities and Exchange Commission ("SEC").
The Company has a fiscal year with a June 30 year end.
In the opinion of management,
the condensed consolidated financial statements of the Company include all adjustments and accruals, consisting only of normal,
recurring accrual adjustments, which are necessary for a fair presentation of the results for the interim periods. These interim
results are not necessarily indicative of results for a full year.
Certain information and footnote
disclosures normally included in financial statements prepared in accordance with GAAP have been condensed in or omitted from
this report pursuant to the rules and regulations of the SEC. These financial statements should be read together with the consolidated
financial statements and notes thereto included in the Company's Transition Report on
Form 10-K
for the year ended June
30, 2018.
Principles of Consolidation
The condensed consolidated financial
statements of the Company include the accounts of Amesite, Inc. and its wholly owned subsidiary, Amesite Operating Company. All
material intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates
The preparation of condensed
consolidated 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 and disclosure of contingent assets and liabilities
at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period.
Actual results could differ from those estimates.
Fair Value Measurements
Accounting standards require
certain assets and liabilities be reported at fair value in the financial statements and provide a framework for establishing
that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques
used to measure fair value.
Fair values determined by Level
1 inputs use quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.
Fair values determined by Level
2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar
assets and liabilities in active markets and other inputs such as interest rates and yield curves that are observable at commonly
quoted intervals.
F-
19
Amesite, Inc.
Notes
to Condensed Consolidated Financial Statements
Note 2—Significant Accounting Policies (Continued)
Level 3 inputs are unobservable
inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset.
These Level 3 fair value measurements are based primarily on management's own estimates using pricing models, discounted
cash flow methodologies, or similar techniques.
In instances whereby inputs
used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety
are categorized based on the lowest level input that is significant to the valuation. The Company's assessment of the significance
of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability.
Cash Equivalents
The Company considers all investments
with an original maturity of three months or less when purchased to be cash equivalents. The total amount of bank deposits (checking,
savings, and investment accounts) that was insured by the FDIC at year end was $250,000.
Property and Equipment
Property and equipment are recorded
at cost. The straight-line method is used for computing depreciation and amortization. Assets are depreciated over their estimated
useful lives. The cost of leasehold improvements is depreciated (amortized) over the lesser of the length of the related leases
or the estimated useful lives of the assets. Costs of maintenance and repairs are charged to expense when incurred.
Depreciable Life - Years
Leasehold improvements
Shorter of estimated lease term or 10 years
Furniture and fixtures
7 years
Computer equipment and software
5 years
Capitalized Software
Costs
The Company capitalizes significant
costs incurred in the development of software for internal use, including the costs of the software, materials, consultants, and
payroll and payroll related costs for employees incurred in developing internal use computer software once final selection of
the software is made. Costs incurred prior to the final selection of software and costs not qualifying for capitalization are
charged to expense. The Company began amortizing the first generation of its platform on October 1, 2018 over a period of three
years and recognized amortization expense of approximately $26,000 and $52,000 for the three and nine month periods ended March
31, 2019, respectively.
Income Taxes
In calculating the provision
for interim income taxes, in accordance with Accounting Standards Codification (ASC) 740, Income Taxes, we apply an estimated
annual effective tax rate to year-to-date ordinary income. At the end of each interim period, we estimate the effective tax rate
expected to be applicable for the full fiscal year.
Deferred tax assets are reduced
by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred
tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in the consolidated statement of operations in the period that includes the enactment date.
Risks and Uncertainties
The Company intends to operate
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.
F-
20
Amesite, Inc.
Notes
to Condensed Consolidated Financial Statements
Note 2—Significant Accounting Policies (Continued)
The accompanying condensed consolidated
financial statements have been prepared assuming that the Company will continue as a going concern.
The Company has incurred losses
since inception, is still in the early stages of developing its service platform, and has not completed its efforts to establish
a stabilized source of revenues sufficient to cover costs over an extended period of time. These factors raise substantial doubt
about the Company's ability to continue as a going concern. The Company's ability to continue as a going concern is
dependent on its ability to raise additional capital and implement its business plan. Despite management's ongoing efforts,
there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable. These
financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should the Company be unable to continue as a going concern.
Research and Development
Research and development expenditures
are charged to expense as incurred. Research and development expense of approximately $0 and $94,000 was charged to expense during
the three months and nine months ended March 31, 2019, respectively.
Net Loss per Share
Basic net loss per share is
computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during
the period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various
methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during
each reporting period. For the three and nine months ended March 31, 2019, the Company had 1,091,833 and 292,114 potentially dilutive
shares of common stock related to common stock options and common stock warrants, respectively, as determined using the if-converted
method. For the three months ended March 31, 2018 and period of inception through March 31, 2018, the Company had 1,288,195 potentially
dilutive shares of common stock related to common stock options, as determined using the if-converted method. For all periods
presented, the dilutive effect of common stock options and common stock warrants has not been included in the average shares outstanding
for the calculation of net loss per share as the effect would be anti-dilutive as a result of our net losses in this period.
Stock-Based Payments
Financial Accounting Standards
Board ("FASB") Accounting Standards Codification ("ASC") Topic 718 "Compensation-Stock Compensation"
requires companies to measure the cost of employee services received in exchange for the award of equity instruments based on
the estimated fair value of the award at the date of grant. The expense is to be recognized over the period during which an employee
is required to provide services in exchange for the award. The Company accounts for shares of common stock, stock options and
warrants issued to employees based on the fair value of the stock, stock option or warrant, if that value is more reliably measurable
than the fair value of the consideration or services received.
The Company accounts for stock
options and restricted shares of common stock issued to non-employees in accordance with the FASB ASC Subtopic 505-50 "Equity-Based
Payments to Non-Employees". Accordingly, the fair value of the stock compensation issued to non-employees is based upon
the measurement date as determined at the earlier of either a) the date at which a performance commitment is reached, or b) the
date which the necessary performance to earn the equity instruments is complete. When a measurement date has not yet been reached
for stock options and restricted shares of common stock outstanding held by non-employees, the Company remeasures these outstanding
awards to fair value at each reporting period.
F-
21
Amesite, Inc.
Notes
to Condensed Consolidated Financial Statements
Note 2—Significant Accounting Policies (Continued)
Upcoming Accounting
Pronouncements
In May 2014, the FASB issued
ASU No. 2014-09,
Revenue from Contracts with Customers (Topic 606)
, which will supersede the current revenue recognition
requirements in Topic 605,
Revenue Recognition
. The ASU is based on the principle that revenue is recognized to depict
the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be
entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing,
and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments
and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance will be effective for the Company's
year beginning July 1, 2019 The standard is not expected to have a significant impact on the consolidated financial statements.
In February 2016, the FASB issued
ASU 2016-02,
Leases
, which will supersede the current lease requirements in ASC 840. The ASU requires lessees to recognize
most leases on the balance sheet thereby resulting in the recognition of lease assets and liabilities for those leases currently
classified as operating leases. ASU 2016-02 is effective beginning July 1, 2020 with early adoption permitted. The Company is
continuing to assess the impact of ASU 2016-02. The Company's primary impact to its consolidated financial position upon
adoption will be the recognition, on a discounted basis, of minimum commitments under noncancelable operating leases on its consolidated
balance sheet resulting in the recording of right of use assets and lease obligations. Current minimum commitments under noncancelable
operating leases are disclosed in Note 5.
Note 3—Warrants
On April 27, 2018 and June 8,
2018, the Company issued 212,665 and 79,449 common stock warrants, respectively, to a placement agent related to fundraisings.
The warrants have a term of five years from the closing date of the private placements and an exercise price of $1.50 per share.
The Company measures the fair value of the warrants using the Black-Scholes Model ("BSM").
The warrants are classified
in stockholders' equity of the Company.
The fair value of the warrants
issued during the year ended June 30, 2018 was $203,615 based on the following inputs and assumptions using the BSM: (i) expected
stock price volatility of 44.50%; (ii) risk-free interest rate of 2.86%; and (iii) expected life of warrants of 6 years.
The weighted-average exercise
price of all warrants outstanding as of March 31, 2019 was $1.50 per share.
Note 4—Stock-Based
Compensation
The Company's Equity Incentive
Plan (the "Plan") permits the grant of stock options, stock appreciation rights, restricted stock, or restricted stock
units to officers, employees, directors, consultants, agents, and independent contractors of the Company. The Company believes
that such awards better align the interests of its employees, directors, and consultants with those of its stockholders. Option
awards are generally granted with an exercise price equal to the market price of the Company's stock at the date of grant;
those option awards generally vest over two years from the grant date and generally have ten-year contractual terms. Certain option
awards provide for accelerated vesting (as defined in the Plan).
The Company has reserved 2,529,000
shares of common stock to be available for granting under the Plan.
The Company estimates the fair
value of each option award using a BSM that uses the weighted-average assumptions included in the table below. Expected volatilities
are based on historical volatility of comparable companies. The Company uses historical data to estimate option exercise within
the valuation model, or estimates the expected option exercise when historical data is unavailable. The risk-free rate for periods
within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Company
has not paid any dividends on common stock since its inception and does not anticipate paying dividends on its common stock in
the foreseeable future. When calculating the amount of annual compensation expense, the Company has elected not to estimate forfeitures
and instead accounts for forfeitures as they occur.
F-
22
Amesite, Inc.
Notes
to Condensed Consolidated Financial Statements
Note 4—Stock-Based Compensation (Continued)
A summary of option activity
for the nine months ended March 31, 2019 is presented below:
Options
Number of Shares
Weighted Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(in years)
Total Shares
Outstanding at July 1, 2018
947,917
$
1.50
10.0
947,917
Granted
270,916
1.50
9.30
270,916
Terminated
(127,000
)
1.50
(127,000
)
Outstanding at March 31, 2019
1,091,833
1.50
9.16
1,091,833
The weighted-average grant-date
fair value of options granted during the three months and nine months ended March 31, 2019 was $0.70. The options contained time-based
vesting conditions satisfied over a period of four years from the grant date.
The Company recognized $152,372
and $454,339 in expense related to the Plan for the three month and nine month period ended March 31, 2019, respectively. The
expense is comprised of $61,250 for consulting services settled in restricted shares and $91,121 related to stock options for
the three month period ended March 31, 2019. The expense is comprised of $183,750 for consulting services settled in restricted
shares and $270,588 related to stock options for the nine month period ended March 31, 2019.
As of March 31, 2019, there
was approximately $412,508 of total unrecognized compensation cost for employees and non-employees related to nonvested options.
That cost is expected to be recognized over a weighted-average period of 1.25 years.
On July 13, 2018, the Company
issued 340,278 restricted shares of common stock in exchange for consulting services provided during the period ended June 30,
2018, and for future services unrendered. The measurement date for all outstanding restricted shares may not be reached until
the contractual end of the contract in September 2019. Accordingly, the Company has estimated the fair value of those services
performed through March 31, 2019, and recorded an expense in the consolidated statements of operations. The expense is recognized
ratably over the term of the consulting contract and amounted to $183,750 during the nine months ended March 31, 2019. As of March
31, 2019, there was approximately $122,500 of total unrecognized compensation cost for non-employees related to unrendered services.
That cost is expected to be recognized over the remaining contractual period of approximately 6 months. The restricted shares
are subject to various provisions that prevent the stockholders from selling, transferring or pledging the shares until the earlier
of twelve months after the Company's common stock is quoted and traded on public exchange or October 1, 2019.
F-
23
Amesite, Inc.
Notes
to Condensed Consolidated Financial Statements
Note 5—Operating
Lease
The Company is obligated under
an operating lease primarily for its office. The lease requires the Company to pay insurance, utilities, and shared maintenance
costs in addition to the monthly rent of $3,733 through May 2019. A refundable security deposit of $5,000 was also required as
part of the lease. During March 2019, the lease was extended through May 2022 with monthly payments of $7,942 being due through
May 2022.
Total rent expense was $52,541
for the nine months ended March 31, 2019.
The future minimum annual commitments
under this operating lease are as follows:
Fiscal Year Ending June 30
Amount
2019
$
19,617
2020
$
95,304
2021
$
95,304
2022
$
79,420
$
289,645
Note 6—Income Taxes
For the three and nine months
ended March 31, 2019 and prior periods since inception, the Company's activities have not generated any taxable income or
tax liabilities. Accordingly, the Company has not recognized an income tax benefit for the three and nine months ended March 31,
2019.
The Company has approximately
$2,178,000 of net operating loss carryforwards available to reduce future income taxes, of which approximately $17,000 of net
operating loss carryforwards expire in 2037. Due to uncertainty as to the realization of the net operating loss carryforwards
and other deferred tax assets as a result of the Company's limited operating history and operating losses since inception,
a full valuation allowance has been recorded against the Company's deferred tax assets.
Note 7—Subsequent
Events
The Company has evaluated the
period subsequent to March 31, 2019 for any events that did not exist at the balance sheet date but arose after that date and
determined that no subsequent events arose that should be disclosed in order to keep the financial statements from being misleading.
F-
24
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 13. Other Expenses of Issuance and Distribution.
The following table
sets forth the estimated fees and expenses payable by us in connection with the offering of the securities being registered.
SEC registration fee
$
53.11
Accounting fees and expenses
15,000
Legal fees and expenses
15,000
Printing and miscellaneous
    expenses
$
1,000
Total
[●]
Item 14. Indemnification of Directors and Officers.
We are incorporated
under the laws of the State of Delaware. Section 145 of the Delaware General Corporation Law provides that a Delaware corporation
may indemnify any persons who were, are, or are threatened to be made, parties to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such
corporation), by reason of the fact that such person is or was an officer, director, employee or agent of such corporation, or
is or was serving at the request of such corporation as an officer, director, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually
and reasonably incurred by such person in connection with such action, suit or proceeding, provided that such person acted in
good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation's best interests and,
with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. A Delaware
corporation may indemnify any persons who were, are, or are threatened to be made, a party to any threatened, pending or completed
action or suit by or in the right of the corporation by reason of the fact that such person is or was a director, officer, employee
or agent of such corporation, or is or was serving at the request of such corporation as a director, officer, employee or agent
of another corporation or enterprise. The indemnity may include expenses (including attorneys' fees) actually and reasonably
incurred by such person in connection with the defense or settlement of such action or suit provided such person acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the corporation's best interests except that
no indemnification is permitted without judicial approval if the officer or director is adjudged to be liable to the corporation.
Where an officer or director is successful on the merits or otherwise in the defense of any action referred to above, the corporation
must indemnify him or her against the expenses (including attorneys' fees) actually and reasonably incurred.
Our amended and restated
certificate of incorporation provides that to the fullest extent permitted by the General Corporation Law, a director shall not
be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. Our amended and
restated bylaws provide that we shall indemnify and hold harmless our directors and officers to the fullest extent permitted by
applicable law, except that we will not be required to indemnify or hold harmless any director or officer in connection with any
proceeding initiated by such person unless the proceeding was authorized by our board of directors. Under our amended and restated
bylaws, such rights shall not be exclusive of any other rights acquired by directors and officers, including by agreement.
Our amended and restated
bylaws provide that we will pay expenses to any director or officer prior to the final disposition of the proceeding, provided,
however, that such advancements shall be made only upon receipt of an undertaking by such director or officer to repay all amounts
advanced if it should be ultimately determined that such director or officer is not entitled to indemnification under the amended
and restated bylaws of or otherwise.
Section 174 of the
Delaware General Corporation Law provides, among other things, that a director who willfully or negligently approves of an unlawful
payment of dividends or an unlawful stock purchase or redemption may be held liable for such actions. A director who was either
absent when the unlawful actions were approved, or dissented at the time, may avoid liability by causing his or her dissent to
such actions to be entered in the books containing minutes of the meetings of the board of directors at the time such action occurred
or immediately after such absent director receives notice of the unlawful acts.
In addition to the
indemnification obligations required by our amended and restated certificate of incorporation and amended and restated bylaws,
we have entered into indemnification agreements with each of our directors and officers. These agreements provide for the indemnification
of our directors and executive officers for all reasonable expenses and liabilities incurred in connection with any action or
proceeding brought or threatened to be brought against them by reason of the fact that they are or were our agents.
As a condition to
the Merger, we also entered into a Pre-Merger Indemnity Agreement with our former officers and directors, pursuant to which we
agreed to indemnify such former officers and directors for actions taken by them in their official capacities relating to the
consideration, approval and consummation of the Merger and certain related transactions.
We expect to obtain
general liability insurance that covers certain liabilities of our directors and officers arising out of claims based on acts
or omissions in their capacities as directors or officers, including liabilities under the Securities Act. Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the registrant
pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is therefore unenforceable.
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The above provisions
may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. The provisions may
also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action,
if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder's investment may be adversely
affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions. We believe that these amended and restated certificate of incorporation provisions, amended and restated bylaw provisions,
indemnification agreements and the insurance are necessary to attract and retain qualified persons as directors and officers.
At present, there
is no pending litigation or proceeding involving any of our directors or officers where indemnification will be required or permitted.
We are not aware of any threatened litigation or proceedings that might result in a claim for such indemnification.
Item 15. Recent Sales of Unregistered Securities
Set forth below is
information regarding securities issued or granted by us within the past three years that were not registered under the Securities
Act:
A.
On April 17, 2017, the Company issued
                                         an aggregate of 935,000 shares of Common Stock to Mark Tompkins for an aggregate purchase
                                         price equal to $23,375 representing amounts advanced by Mr. Tompkins to counsel for the
                                         Company in connection with the formation and organization of the Company, and an aggregate
                                         of 65,000 shares of Common Stock to Ian Jacobs for an aggregate cash purchase price equal
                                         to $1,625.
B.
On June 5, 2017, the Company issued
                                         a promissory note to Mark Tompkins, a stockholder and former director of the Company
                                         pursuant to which the Company agreed to repay Mr. Tompkins the sum of any and all amounts
                                         that Mr. Tompkins advanced to the Company on or before the effective date of the Merger.
C.
On April 2, 2018, the Company issued
                                         33,333 shares of common stock to its legal counsel in connection with services rendered
                                         to the Company pre-Merger.
D.
On April 27, 2018 and June 8, 2018
                                         in connection with the Private Placement, we issued an aggregate of 2,921,145 shares
                                         of common stock at a price of $1.50 per share to accredited investors for aggregate gross
                                         proceeds of approximately $4.4 million. On April 27, 2018 and June 8, 2018 in connection
                                         with the Private Placement, we issued warrants to purchase an aggregate of 212,665 and
                                         79,449 shares, respectively, of common stock to the Placement Agents, at an exercise
                                         price of $1.50 per share.
E.
On April 27, 2018, pursuant to the
                                         terms of the Merger Agreement, all of the shares of capital stock of Amesite OpCo, including
                                         restricted common stock issued by Amesite OpCo to its pre-Merger stockholders (which
                                         outstanding amounts were first converted into shares of Amesite OpCo common stock immediately
                                         prior to the Effective Time of the Merger), were converted into an aggregate of 5,833,333
                                         shares of our common stock after adjustments due to rounding for fractional shares. In
                                         addition, we assumed all outstanding equity awards to purchase Amesite OpCo common stock
                                         that remained outstanding under the 2017 Plan, whether vested or unvested, and converted
                                         them into equity awards to purchase an aggregate of 1,288,195 shares of our common stock.
F.
On April 27, 2018, in connection with
                                         the Insider Investment, we issued 895,829 shares of common stock at a price of $1.20
                                         to accredited investors for aggregate gross proceeds of approximately $1.07 million.
G.
On July 13, 2018, the Company issued
                                         340,278 restricted shares of common stock in exchange for consulting services provided
                                         during the period ended June 30, 2018, and for future services unrendered.
H.
On June 11, 2019, the Company issued a warrant to purchase
up to 1,479,078 shares of the Company's common stock, par value $0.0001 per share (the "Warrant") to an accredited
investor for advisory services rendered. The Warrant is exercisable at $1.50 per share, subject to adjustment, and has a term
of five (5) years.
The transactions described
in paragraphs A through G were exempt from registration under Section 4(a)(2) of the Securities Act (or Rule 506 of Regulation
D) as not involving any public offering.
Sales of Unregistered Securities of Amesite OpCo
The following list
sets forth information as to all securities Amesite OpCo sold from since inception, which were not registered under the Securities
Act. The following description is historical and has not been adjusted to give effect to the Merger or the share conversion ratio
pursuant to the Merger Agreement.
1.
On November 14, 2017, Amesite OpCo
                                         issued an aggregate of 4,000,000 shares of Class B common stock at a price per share
                                         of $0.0001 for aggregate gross consideration of approximately $400 to 1 accredited investor.
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The transaction described
in paragraph 1 above was exempt from registration under the Securities Act in reliance on Rule 701 of the Securities Act as offers
and sales of securities under compensatory benefit plans and contracts relating to compensation in compliance with Rule 701. Each
of the recipients of securities in any transaction exempt from registration either received or had adequate access, through employment,
business or other relationships, to information about us.
None of the securities
described in this Item 15 were sold through an underwriter and, accordingly, there were no underwriting discounts or commissions
involved.
Item 16. Exhibits and Financial Statement Schedules
(a) Exhibits
The exhibit index attached hereto is incorporated
herein by reference.
(b) Financial Statement Schedules
All schedules have
been omitted because the information required to be set forth in the schedules is either not applicable or is included in our
financial statements or notes to those financial statements.
Item 17. Undertakings.
(a)
The undersigned registrant hereby
                                         undertakes:
(1)
To file, during any period in which
                                         offers or sales are being made, a post-effective amendment to this registration statement:
(i)
to include any prospectus required
                                         by Section 10(a)(3) of the Securities Act;
(ii)
to reflect in the prospectus any
                                         facts or events arising after the effective date of the registration statement (or the
                                         most recent post-effective amendment thereof) which, individually or in the aggregate,
                                         represent a fundamental change in the information set forth in the registration statement.
                                         Notwithstanding the foregoing, any increase or decrease in volume of securities offered
                                         (if the total dollar value of securities offered would not exceed that which was registered)
                                         and any deviation from the low or high end of the estimated maximum offering range may
                                         be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if,
                                         in the aggregate, the changes in volume and price represent no more than a 20 percent
                                         change in the maximum aggregate offering price set forth in the "Calculation of
                                         Registration Fee" table in the effective registration statement; and
(iii)
to include any material information
                                         with respect to the plan of distribution not previously disclosed in the registration
                                         statement or any material change to such information in the registration statement.
(2)
That, for the purpose of determining
                                         any liability under the Securities Act, each such post-effective amendment shall be deemed
                                         to be a new registration statement relating to the securities offered therein, and the
                                         offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(3)
To remove from registration by
                                         means of a post-effective amendment any of the securities being registered which remain
                                         unsold at the termination of the offering.
(4)
That, for the purpose of determining
                                         liability under the Securities Act to any purchaser:
(i)
Each prospectus filed pursuant to
                                         Rule 424(b) as part of the registration statement relating to an offering, other than
                                         registration statements relying on Rule 430B or other than prospectuses filed in reliance
                                         on Rule 430A, shall be deemed to be part of and included in the registration statement
                                         as of the date it is first used after effectiveness.
Provided
,
however
,
                                         that no statement made in a registration statement or prospectus that is part of the
                                         registration statement or made in a document incorporated or deemed incorporated by reference
                                         into the registration statement or prospectus that is part of the registration statement
                                         will, as to a purchaser with a time of contract of sale prior to such first use, supersede
                                         or modify any statement that was made in the registration statement or prospectus that
                                         was part of the registration statement or made in any such document immediately prior
                                         to such date of first use.
(b)
Insofar as indemnification for
                                         liabilities arising under the Securities Act may be permitted to directors, officers
                                         and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise,
                                         the registrant has been advised that in the opinion of the SEC such indemnification is
                                         against public policy as expressed in the Act and is, therefore unenforceable. In the
                                         event that a claim for indemnification against such liabilities (other than the payment
                                         by the registrant of expenses incurred or paid by a director, officer or controlling
                                         person of the registrant in the successful defense of any action, suit or proceeding)
                                         is asserted by such director, officer or controlling person in connection with the securities
                                         being registered, the registrant will, unless in the opinion of its counsel the matter
                                         has been settled by controlling precedent, submit to a court of appropriate jurisdiction
                                         the question whether such indemnification by it is against public policy as expressed
                                         in the Act and will be governed by the final adjudication of such issue.
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EXHIBIT INDEX
Exhibit
        Number
Exhibit
    Description
2.1† (3)
Agreement and Plan of Merger and
    Reorganization, dated April 26, 2018, by and among Lola One Acquisition Corporation, Acquisition Sub, a Delaware corporation
    and wholly-owned subsidiary of the Company, and Amesite OpCo, a Delaware corporation.
3.1 (3)
Certificate of Merger relating to
    the merger of Acquisition Sub with and into Amesite OpCo, filed with the Secretary of State of the State of Delaware on April
    26, 2018, effective on April 27, 2018.
3.2 (3)
Certificate of Amendment to Certificate
    of Incorporation, filed with the Secretary of State of the State of Delaware on April 30, 2018.
3.3 (5)
Amended and Restated Certificate
    of Incorporation filed with the Secretary of State of the State of Delaware on August 20, 2018.
3.4 (3)
Amended and Restated Bylaws, as currently
    in effect.
4.1 (3)
Form of Warrant to Purchase Shares
    of Common Stock issued to Placement Agent.
4.2 (3)
Form of Registration Rights Agreement
    by and among the Company and the persons named therein.
4.3 (1)
Form of Pre-Funded Warrant.
5.1 (7)
Opinion of Dorsey & Whitney LLP
10.1+ (3)
2017 Equity Incentive Plan and forms
    of award agreements thereunder, assumed in the Merger.
10.2+ (3)
2018 Equity Incentive Plan and forms
    of award agreements thereunder.
10.3+ (3)
Form of Subscription Agreement by
    and between the Company and each investor in the Private Placement.
10.4+ (3)
Employment Agreement dated as of
    November 14, 2017 by and between Amesite OpCo and Ann Marie Sastry.
10.5+ (3)
Consulting Agreement dated as of
    April 4, 2018 by and between Amesite OpCo and Richard Ogawa.
10.6+ (3)
Consulting Agreement dated as of
    April 5, 2018 by and between Amesite OpCo and Bernie Chong.
10.7 (3)
Lease Agreement dated as of November
    13, 2017 by and between Amesite OpCo and 205-207 East Washington, LLC.
10.8+ (3)
Form of Pre-Merger Indemnity Agreement.
10.9 (2)
Common Stock Purchase Agreement by
    and between the Company and Mark Tompkins, dated April 17, 2017.
10.10 (2)
Common Stock Purchase Agreement by
    and between the Company and Ian Jacobs, dated April 17, 2017.
10.11 (1)
Form of Subscription Agreement for
    Pre-Funded Warrant.
10.12+ (3)
Employment Agreement dated as of
    April 27, 2018 by and between the Company and Ann Marie Sastry.
10.13 (5)
Form of Lock-up Agreement
10.14 (8)
Consulting Agreement by between the Company and Richard DiBartolomeo
16.1 (4)
Letter from Raich Ende Malter &
    Co. LLP as to the change in certifying accountant
21.1 (4)
Subsidiaries of Amesite Inc.
23.1 (7)
Consent of Deloitte & Touche
    LLP
23.2 (7)
Consent of Dorsey & Whitney LLP (included in Exhibit 5.1)
24.1 (7)
Power of Attorney (included on the signature page hereto)
101.INS (5)
XBRL Instance Document
101.SCH (5)
XBRL Taxonomy Extension Schema Document
101.CAL (5)
XBRL Taxonomy Extension Calculation
    Linkbase Document
101.DEF (5)
XBRL Taxonomy Definition Linkbase
    Document
101.LAB (5)
XBRL Taxonomy Extension Label Linkbase
    Document
101.PRE (5)
XBRL Taxonomy Extension Presentation
    Linkbase Document
+
Indicates a management contract or compensatory plan.
(1)
Incorporated by reference to the indicated exhibit in Lola
One Acquisition Corporation's Current Report on Form 8-K filed on April 12, 2018.
(2)
Incorporated by reference to the indicated exhibit in Lola
One Acquisition Corporation's registration statement on Form 10 filed on June 27, 2017.
(3)
Incorporated by reference to the indicated exhibit in Amesite
Inc.'s Current Report on Form 8-K filed on May 2, 2018.
(4)
Incorporated by reference to the indicated exhibit in Amesite
Inc.'s Registration Statement on Form S-1 filed July 13, 2018.
(5)
Incorporated by reference to the indicated exhibit in Amesite
Inc.'s Registration Statement on Form S-1/A filed on August 24, 2018
(6)
Incorporated by reference to the indicated exhibit in Amesite
Inc.'s Current Report on Form 8-K filed on August 23, 2018.
(7)
Filed herewith
(8)
Incorporated by reference to Exhibit 10.1 in Amesite Inc.'s Current Report on Form 8-K filed on
November 11, 2018
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SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant has duly caused this registration statement
to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Ann Arbor, State of Michigan, on June
28, 2019.
AMESITE INC.
By:
/s/
    Ann Marie Sastry
Ann Marie Sastry, Ph.D.
Chief Executive Officer and Director
(
principal executive officer)
By:
/s/
    Rick DiBartolomeo
Rick DiBartolomeo
Chief Financial Officer
(
principal financial officer
)
Pursuant to the requirements
of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities
indicated on the date indicated:
SIGNATURE
TITLE
DATE
/s/ Ann Marie Sastry, Ph.D.
Chief Executive Officer and Director
(
principal executive officer)
June 28, 2019
Ann Marie Sastry, Ph.D.
/s/ Rick DiBartolomeo
Chief Financial Officer
(
principal financial officer and principal accounting officer
)
June 28, 2019
Rick DiBartolomeo
/s/ J. Michael Losh
Director
June 28, 2019
J. Michael Losh
/s/ Edward Frank
Director
June 28, 2019
Edward Frank
/s/ Richard Ogawa
Director
June 28, 2019
Richard Ogawa
/s/ Anthony Barkett
Director
June 28, 2019
Anthony Barkett
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