(CORRECTION) Innovative Satellite and 5G Components Provider AmpliTech Presents Growth Strategy and Outlook in Little Grapevine Virtual Fireside Chat Thursday, Jan. 20th at 4pm ET

Rhea-AI Summary

AmpliTech Group, Inc. (Nasdaq: AMPG) will present its growth strategy on January 20, 2022, at 4:00 pm ET via a virtual fireside chat. CEO Fawad Maqbool stated that the company has transformed significantly over the past year to leverage its radio frequency signal processing technologies across various sectors. Key achievements include an up-listing to Nasdaq, expanding the sales team, and acquiring Spectrum Semiconductor Materials, which is expected to nearly quadruple revenue. Current market cap stands at $34M with a cash reserve of $17M and an order backlog of $10.2M.

Positive

• Up-listing to Nasdaq enhances visibility and credibility.
• Acquisition of Spectrum Semiconductor expected to nearly quadruple revenue.
• Expansion of sales and marketing team, increasing growth potential.
• Strong order backlog of $10.2M indicates solid demand.

Negative

• None.

Bohemia, NY, Jan. 18, 2022 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite and 5G communications networks, defense, space, and other commercial applications, announced today that its CEO, Fawad Maqbool, will present the Company’s growth strategy and outlook on Thursday, January 20^th at 4:00 pm ET in a virtual fireside chat with Little Grapevine held via Zoom.

Investors must register in advance via the following link: Meeting Registration - Zoom to participate in the call. All investors are welcome and encouraged to attend.

Fawad Maqbool, CEO, commented, “We have substantially transformed AmpliTech over the past year to fully leverage the potential of our cutting-edge radio frequency signal processing technologies in satellite communications, 5G connectivity, quantum computing and other applications. We are eager to update investors on all that we have done and our exciting outlook for 2022 and beyond.

“At the core, our solutions and expertise enable our customers to move data with greater efficiency, improved reliability, reduced power, and at a lower cost. Over the past year we recapitalized our business, up-listed to Nasdaq, expanded our sales and marketing team and efforts, initiated the design and production of proprietary MMIC signal processing chip designs, and completed the acquisition of Spectrum Semiconductor Materials in late December, which we expect to nearly quadruple our revenue run rate.

“Based on progress building our business, our state-of-the-art technology and the large and growing markets we are targeting, we believe AmpliTech represents an attractive growth investment that deserves broader exposure.”

AmpliTech at a Glance:
Market Cap:                                    $34M                                   Current Cash                            $17M
Enterprise Value                           $17M                                   2022 Order Backlog*               $10.2M
EV / 2022 Order Backlog:             1.67x
* AmpliTech order backlog is expected to ship largely in the first half of 2022.

About Little Grapevine
Little Grapevine^™ is an invitation-only website that invites companies to participate in recurring on-line virtual conferences with video presentations, video interviews, podcasts and more. Content is conveniently archived and categorized on littlegrapevine.com, which serves as an all-in-one tool for investors seeking to research companies in the microcap space. At the end of each presentation, featured companies are required to answer Little Grapevine's questions about their business. For more information about Little Grapevine, visit www.littlegrapevine.com.

About AmpliTech (www.AmpliTechinc.com)

AmpliTech Group, Inc. designs, develops, and manufactures state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of the unique skills, experience and dedication of our focused team which enables us to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business.

Safe Harbor Statement

This release contains statements that constitute forward-looking statements. These statements appear in several 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 impact of the acquisition of Spectrum Semiconductor Materials on the Company’s operating results; (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 because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.

Corporate Social Media                                                             
Twitter: @AmpliTechAMPG                                                     
Instagram: @AmpliTechampg                                                  
Facebook: AmpliTechInc

Investor Social Media
Twitter: @AmpliTechIR
StockTwits: @AMPG_IR

Company Contact:                                                                          
Shan Sawant, Director of Communications                           
AmpliTech Group, Inc.                                                                   
shan@AmpliTech.com                                                                  
646-546-7128                                                                                    

Investor Contact:
David Collins or Bill Jones, Investor Relations
Catalyst IR
AMPG@catalyst-ir.com
212-924-9800

FAQ

What is AmpliTech Group's growth strategy for 2022?

AmpliTech Group plans to leverage its cutting-edge radio frequency technologies and focus on expanding its market presence through strategic initiatives, including the recent acquisition of Spectrum Semiconductor.

When will AmpliTech present its strategy to investors?

AmpliTech will present its growth strategy on January 20, 2022, at 4:00 pm ET during a virtual fireside chat.

What is the current market capitalization of AmpliTech Group?

As of the press release date, AmpliTech Group's market capitalization is $34 million.

How much cash does AmpliTech currently have?

AmpliTech currently has $17 million in cash.

What is AmpliTech's order backlog for 2022?

AmpliTech's order backlog for 2022 is $10.2 million, which is expected to ship largely in the first half of the year.