BOHEMIA, NY / ACCESSWIRE / July 28, 2020 / AmpliTech Group, Inc. (OTCQB:AMPG): AMPG CEO Fawad Maqbool stated today "In the midst of the Covid-19 pandemic, AMPG is proud to announce that it has continued to follow its strategy for the identification of key elements of today's technology revolution, and has leveraged its technical expertise and experience to align its product portfolio and IP with these innovations. These technologies are evolving just as the previous "dot-com",bubble, fiber, 1G to 4G as well as standard Wi-Fi, which led to the FAANG group of companies we know so well today. Similarly, we believe we are at the knee of "hockey-stick" growth that is purportedly bigger than ALL the previous developments COMBINED. We hope our existing and newly developed products will make AMPG an integral part of these global multi-trillion dollar rapidly evolving markets for the 21st century." The Company noted that it plans to be a catalyst in the enhancement, development, and distribution of breakthroughs in the following significant sizeable markets:
Target Markets for AMPG
- High Speed Terrestrial and Satellite Terminals (SATCOM, "Internet in the Sky")
- 5G/Wi-Fi6E, and 6G wireless infrastructure (Cellular Base Stations, Small Cells, Private Wi-Fi Networks)
- IoT (Internet of Things) Eventually everything gets "connected" as billions of devices become smart and enabled by the 5G Ecosystem
- Cloud Farms, Big Data, and MEC architecture
- Quantum Supercomputers/Quantum Research
- Deep Space Astronomy
- Autonomous Self-Driving Vehicles
- Telemedicine, AR/VR (Augmented and Virtual Reality)
- Drones, UAVs (Unmanned Aerial Vehicles)
- Military/Defense ECM/EW
The Company has made significant breakthroughs in its core low noise amplifier products, as evidenced by its recent filing of various patents. These amplifiers are the "building blocks" of virtually every wireless communication system and the ever-growing demand for higher performance and quality in many of these communication systems has made AMPG products more popular. This is where the Company has excelled for many years, but the best performance and fidelity was only required in high-end systems such as radar, test equipment, and small research projects. "We believe we have "perfect storm" conditions today as the rising demand for better and faster communication equipment is the gateway to usher in many other technologies (listed above). Now, the obscure applications have become the mainstream solution to many developing technologies and AMPG has now focused on making its products mainstream and providing staple solutions." The Company lists the following milestones for achieving its goals throughout 2019 and into 2020:
Important Milestones for 2019 and 2020
- Re-organization of BOD
- Obtained non-dilutive financing/funding
- Executed first accretive acquisition (Specialty Microwave)
- Expanded Technical and Sales teams with key engineering and executive talent
- Engaged Maxim Group, LLC to re-IPO and try to up-list to Nasdaq
- Engaged Investment banking consultant
- Expanded its IP portfolio with assets from acquisition as well as filing new patents
- Expanded customer base by adding OneWeb, CNN, Fox News, Globecomm, General Dynamics, and many other notable Specialty Microwave customers
- Developed and expanded joint product line offering by creating up-selling and cross-selling opportunities for AMPG and Specialty to larger customer base
- Developed new cryogenic amplifiers for use in quantum computing and research
- Generated Pro-Forma Revenues of $4 million, (post acquisition)
- Uploaded new product list for U.S. Government GSA (General Services Administration) leading to increased RFQ activity on $500,000 GSA award
- Increased Company market cap from $2.7 million to ~$8 million
Barring the latent effects of the Covid-19 pandemic, the Company cited its achievements and continued focus on target markets as an indication of its progress and dedication to growth. The Company remains committed to its investors and shareholders, and has taken deliberate and careful steps to steadfastly scale up its business model from a low volume research and development company, to blazing a trail and becoming a cornerstone of breakthrough and mainstream technology.
About AmpliTech Group, Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components for the Domestic and International, SATCOM, Space, Defense and Military markets. These designs cover the frequency range from 50 kHz to 40 GHz - eventually, offering designs up to 100 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 13+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Click here to view AmpliTech video. Website: http://www.AmpliTechinc.com
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Fawad Maqbool, CEO
AmpliTech Group, Inc.
SOURCE: AmpliTech Group, Inc.
View source version on accesswire.com: