AMPLITECH GROUP INC. COM - AMPG STOCK NEWS

AmpliTech Group's AGTGSS division has signed a Memorandum of Understanding (MOU) for its first Private 5G Network deployment in California, USA. This potential project, valued at over $1 million, aims to provide connectivity to thousands of users with enhanced signal reliability and security. The deployment includes ORAN P5G radio networks, Central and Distribution Units, software services, and CPE hardware products. If finalized, it could be completed within 3 months after a definitive contract agreement.

CEO Fawad Maqbool emphasized that this MOU could lead to similar projects across the US, validating AGTGSS's entry into both Public and Private 5G markets. The company anticipates expanding its footprint across multiple cities in the USA and Europe in the coming months, following this initial trial deployment.

AmpliTech Group (Nasdaq: AMPG) reported Q2 2024 financial results with revenue of $2.5 million and gross profits of $1.05 million, maintaining a 42% gross margin. The company faced challenges due to decreased global demand and recessionary market dynamics, resulting in a loss of $1.57 million for the quarter. Factors contributing to the loss include lower sales, increased corporate expenses, and ongoing R&D efforts for new 5G products.

As of June 30, 2024, AmpliTech had $1,014,204 in cash and cash equivalents and working capital of $9,995,731. The company maintains a healthy inventory position with over $7 million in raw materials and finished goods. AmpliTech is exploring alternative financing options and expects normal demand to resume in upcoming quarters based on increased RFQ activity in early Q3.

AmpliTech Group's AGTGSS Division has launched a comprehensive Private 5G End-to-End Solution for businesses and homes. This solution integrates ORAN radios, Central and Distribution Units, Antennas, Core Servers, and Fixed Wireless Access (FWA) devices. It's designed to meet the growing demand for reliable, high-performance 5G networks outside traditional cellular infrastructure.

Key features include versatile hardware, a full line of FWA devices, expert planning and optimization services, scalable solutions, and the ability to offer cloud services. The solution provides autonomy, control, security, reliability, and performance, with speeds exceeding 1 gigabit per second. It's suitable for various industries including military bases, airports, railyards, mines, warehouses, and smart cities.

AmpliTech Group, Inc. (Nasdaq: AMPG) has unveiled new Cryogenic Power Supplies through its AmpliTech Inc. division, specifically designed for the quantum computing industry. These power supplies are available in two models with adjustable low-voltage outputs (two-channel and three-channel) and are suitable for reliability testing, laboratory instrument testing, and cryogenic amplifier testing.

CEO/CTO Fawad Maqbool emphasized that these products complement their existing line of cryogenic low noise amplifiers used in quantum computing. The new power supplies are immediately available for purchase individually or as a set with AmpliTech's cryogenic amplifiers through their newly launched online store at https://shop.amplitechinc.com/.

AmpliTech Group (AMPG) has released a shareholder letter addressing recent developments and reaffirming its commitment to long-term growth. CEO Fawad Maqbool highlighted the company's unique position in developing state-of-the-art products for 5G, quantum computing, and satellite communications. Key points include:

1. No investments in digital currencies, aside from a one-time occurrence reported in an 8K statement.
2. Fraudulent activity reported to authorities with hopes of fund recovery.
3. Strong financial discipline with no debt and avoidance of dilutive financing.
4. Development of disruptive products for rapidly growing sectors with trillion-dollar TAMs.
5. Only US-based company offering a full suite of 5G radios for cell towers with 1Gbps+ speeds.
6. Unique provider of cryogenic Low Noise Amplifiers for quantum computers.
7. Industry-leading Low Noise Block (LNB) manufacturer for satellite communications.

AmpliTech Group (Nasdaq: AMPG, AMPGW) announced on May 30, 2024, that it has regained compliance with Nasdaq's periodic filing requirements. The company's CEO, Fawad Maqbool, expressed confidence in the company's future, emphasizing its long-standing solutions for Fortune 500 companies and aspirations to extend its impact to Fortune 50 companies. AmpliTech's innovative technologies target issues such as True 5G ORAN Radios, AI, Telemedicine, AR/VR, automated vehicles, and Fixed Wireless Access (FWA). The company remains dedicated to delivering shareholder value and executing its growth strategy amidst a rapidly evolving technological landscape.

AmpliTech Group (Nasdaq: AMPG) received a notice of non-compliance from Nasdaq on May 22, 2024, due to the late filing of its Quarterly Report on Form 10-Q for the period ending March 31, 2024. The notice currently has no immediate impact on AmpliTech's Nasdaq listing. The company has 60 days to submit a plan to regain compliance. If accepted, AmpliTech may get up to 180 days from the Form 10-Q due date, until November 18, 2024, to comply. The company aims to file the report as soon as possible and anticipates doing so before needing to submit a compliance plan.