Artificial Intelligence
Amesite Inc. Issues Shareholder Update
DETROIT, June 02, 2022 (GLOBE NEWSWIRE) — Amesite Corp. (Nasdaq: AMST), an artificial intelligence software company providing advanced A.I. powered online learning ecosystems for business and higher education, today issued an update to its shareholders from its Chief Executive Officer, Dr. Ann Marie Sastry and will be posting a video shareholder update to its website at 5:00 PM ET. The presentation will be available to shareholders here.
Dear Shareholders,
We believe that we have now entered a period of certainty in the need for expansion of online learning, contextualized by industrial disruption, rapid technology changes and obvious needs for workforce upskilling. Online learning was necessarily the default over two years of a pandemic, and we see signs that a shift in thinking has been permanent: the pandemic made clear the benefits and deficiencies of online experiences, and these have driven the desire to do better.
We believe that reaching broader audiences through online learning, and importantly, making sure that all organizations that offer it can be effective, are essential. Our point of view is that the world’s learning will not be delivered by a single organization, or even a few elite ones: learning is a fundamental human need. Just as dining at different restaurants stimulate the palate and the imagination, we believe that accessing learning from multiple channels is a desired human state. Amesite aims to serve this broad group – universities, museums, businesses and government – with outstanding, white label learning software, adaptable to their needs and true to their brands.
Amesite continues to onboard customers in different sectors and grow relationships with existing partners to meet these needs. Despite a challenging economic macroenvironment, Amesite is building partnerships and revenue, by delivering solutions that these different organizations need to be successful in learning markets. We are positioning ourselves to be a leading educational platform service provider, by meeting common needs across sectors.
Amesite has continued to secure meaningful contract wins and that momentum has continued into the current quarter.
Highlights of our successes over the last quarter include:
- Partnering with the City University of New York (CUNY) to develop and implement professional learning on a CUNY branded learning portal. CUNY is the largest urban public university in the U.S., providing learning to over 500,000 learners every year. It is our strong intention to help them scale their professional offerings – they are exactly the kind of partner that we seek, to grow revenue and impact for the university and for Amesite.
- Partnering with Conner Prairie, a living history museum located in Indiana, to deliver eLearning powered by a new online ecosystem, with an anticipated launch in 2022. This new Learning Community EnvironmentSM (LCESM) provides a complete ecosystem for digital learning, including an eCommerce solution, helping make history come alive for people all around the world.
- Extending our partnership with Wayne State University, the third largest university in Michigan, for three years. We plan to continue delivering professional certificate programs on Wayne State University’s LCESM. With a retention rate of over 98%, we are excited to push ahead with existing and new programs.
- Expanding our partnership with the EWIE Company, to provide global dashboards to deliver and track learning to workers across the globe. With integrations that enable more facile sharing of data across the enterprise, this LCESM is a model for the future of industrial learning.
These significant wins are demonstrative of our traction with a breadth of organizations. We are optimistic about our new business pipeline, which includes organizations referred to us by clients, and organizations that we have reached with our marketing efforts. We are judiciously expanding marketing based on successes and believe that we can effectively pitch our solution across several sectors to grow revenue more aggressively.
Responsible stewardship of our company requires balancing an aggressive growth plan with careful management of resources. We remain mindful of safeguarding shareholder capital and have made a concerted effort to reduce our cash burn. As reported in our 10-Q for the period ended March 31, 2022, revenue growth through the first nine months of FY2022 was approximately 29%.
Our FYQ3 quarterly cash burn declined to $1.35 million, a 13.5% decrease from the same quarter in FY2021 and the lowest burn rate since our initial public offering. The most recent quarter was not an anomaly as our quarterly average burn was down 28.4% compared to the quarterly average year-to-date cash burn. Specifically, we completed a necessary 23% reduction in full-time from Q2 to Q3. Additionally, we offboarded contract IT, useful in the building phase of our product, and have moved development to our high performance, in-house team. Exiting this vendor resulted in an immediate termination payment of roughly $300,000 that was recognized in FYQ3 with expected costs savings to be realized going forward. Conversely, we reduced in-house marketing staffing in favor of external firms, with resulting increases in generation of marketing qualified leads (MQLs) and reduced payroll cost.
Ultimately, what we think differentiates Amesite and drives both our past and future growth opportunity is our highly customizable, easy-to-deploy and operationally efficient SaaS platform. We invested significant time and effort to develop the supporting architecture specifically for the online business, university, institute / museum and government education markets, and we are very proud to be making inroads within those markets, as referenced above.
As we close our fiscal year 2022 at the end June, we remain laser-focused on securing additional clients and revenue growth and ultimately building long-term value for shareholders. We believe that we are just scratching the surface in our target markets, and we continue to position ourselves to capitalize on these opportunities.
At Amesite, we remain grateful to our team members for their hard work and dedication, to our clients for their confidence and commitment in our SaaS offering, and to our shareholders for their continued support. Thank you and I look forward to communicating with you again after we report our fiscal year 2022 results.
Sincerely,
Ann Marie Sastry, Ph.D.
Chair and Chief Executive Officer
About Amesite Inc.
Amesite is an ed-tech, SaaS company with the most advanced artificial intelligence driven online learning platform in the industry, providing both content creation and a best-in-class infrastructure for the multi-billion-dollar online learning markets in business and education. For more information, visit https://amesite.com/.
Investor Relations Contact:
Christine Petraglia
TraDigital IR
(917) 633-8980
[email protected]
Artificial Intelligence
Aero Design Labs receives U.S. and EASA approval for updated Boeing 737-800 drag reduction kit
FORT WORTH, Texas, Sept. 30, 2024 /PRNewswire/ — Aero Design Labs (ADL) today announced it has received a Supplementary Type Certificate (STC) from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) approval for its enhanced Boeing 737-800 drag reduction kit 2.0.
“We are delighted to introduce our next generation of the drag reduction kit, which we are referring to as ‘ADL Kit 2.0′,” said Jeff Martin, ADL President and CEO. “The ADL team has once again demonstrated its expertise and commitment to aviation carbon reduction through its continued improvement process. ADL’s next generation Kit 2.0 is an evolution from our original designs, meeting the stringent requirements based on valuable feedback from our launch partners. With our new EASA approval, we can now offer our carbon reduction kits to new EU airline customers.”
The ADL Kit 2.0 captures new benefits, and significantly reduces the installation time, delivering reduced out-of-service time for the conversion while generating meaningful fuel savings and reduced carbon emissions across the popular Boeing 737-800 variant. Based on feedback from airline partners, it is anticipated that a kit can be installed overnight, minimizing critical out-of-service time for the airlines.
“Having served as an airline operational executive, I understand the need for airlines to reduce their carbon footprint, save fuel and minimize aircraft out-of-service time for the modification,” said David Campbell, ADL Chief Operating Officer. “ADL Kit 2.0 offers better economics and a shorter payback period, assisting airlines with fuel savings and carbon reduction including their IATA CORSIA carbon reduction pledges.”
“On behalf of the team at ADL, we thank ALOFT AeroArchitects, NORDAM, AAR Corp, and the many airline partners who have assisted us on this journey”, concluded Jeff Martin. “Their feedback and contributions to our engineering efforts and joint commitments to reducing aviation carbon emissions are invaluable.”
About Aero Design Labs L.L.C.
Founded in 2015, Aero Design Labs (ADL) leads the way in the research, development and installation of drag reduction systems for airline fleets globally. ADL modifications to airlines’ existing fleets can result in fuel savings, extend fleet longevity and the potential for billions of pounds of CO2 to be prevented from entering the atmosphere.
Media inquiries: Richard Bartrem [email protected]
Sales inquiries: David Campbell [email protected]
Logo – https://mma.prnewswire.com/media/2519564/Aero_Design_Labs_Logo_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/aero-design-labs-receives-us-and-easa-approval-for-updated-boeing-737-800-drag-reduction-kit-302262953.html
Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.
DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50 per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries:
Kim [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/docpro-limited-announces-the-launch-of-doclegalai-302260129.html
Artificial Intelligence
Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience
Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.
Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry.
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
Photo: https://mma.prnewswire.com/media/2519499/Amagi_and_Phenix_partner.jpg
View original content:https://www.prnewswire.co.uk/news-releases/amagi-and-phenix-partner-to-bring-next-gen-low-latency-and-seamless-ad-insertion-for-the-ultimate-viewer-experience-302262768.html
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