SOURCE: AmpliTech Group, Inc.

August 14, 2017 08:00 ET

AmpliTech Group Enters into Joint Venture Agreement with Cyber Security Company; AMPG files 10Q for 2Q 2017

BOHEMIA, NY--(Marketwired - Aug 14, 2017) - Amplitech Group, Inc. (OTCQB: AMPG) a leader in state-of-the-art RF Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets, today announced it has entered into a Joint Venture Agreement with Trusted Networks, Inc. ("TN"), a NYC headquartered, private company with facilities in Colorado Springs and Nashua, NH. TN is headed by CEO Robert S. Pollock and a team of 6 other accomplished PhDs and MBAs, each with over 30 years' experience in the design of NSA/DoD level 6+ cyber security protocols for servers and routers. The focus of the joint venture is to develop an affordable mixed signal chipset that can be used at server/router level as well as in mobile PDA applications to provide secure and encrypted communication with the goal of preventing hacking and cyber-attacks. The JV will take advantage of AmpliTech's industry leadership and experience in RF/Microwave LNA technology and TN's Cyber-security Protocol technology to eliminate the widespread occurrence of corporate and individual cyber-attacks. Current software solutions alone cannot offer Level 6+ standards protection. Solutions from large security firms like BAE systems can cost up to $1 million per server and are not generally available for individuals or smaller companies. The chipset (Microwave + digital hardware) coupled with proprietary software can provide the level of security needed for all levels of communication at a target price of approximately $100 each. TN estimates the market to be $46 billion alone, not counting government and corporate accounts, in the wake of worldwide corporate, government, and personal hacking incidents. CEO Fawad Maqbool stated, "We are excited to be part of what we think is a great partnership that brings together the best of both worlds to attack a problem that has found its way into mainstream cyber technology and our everyday way of life. As the use of information technology increases exponentially, the need for the type of solution this joint venture will provide is readily apparent. I am confident that it will position AMPG for increased revenue and market leadership in the not so distant future."

The Company also filed their 10Q for 2Q 2017. Although the company had a net loss for the first half of 2017, it has a positive outlook for the rest of the year. There are some large R&D projects under way with large OEMs that are expected to convert into orders once completed within the next few months. Overall sales for the six months ended June 30, 2017, has increased by $108,859 or 17% when compared to the same period last year. The loss was primarily due to the reduced order flow in the first half (as was the case last year) and an increase in G&A and R&D expenses as the Company invested in additional marketing and R&D efforts to expand product lines and increase distribution channels. The Company expanded its engineering and project management to support current R&D projects and smaller orders that are expected to lead to much larger ones in the near future. In the second quarter of 2017, the Company presented at the Planet MicroCap Conference in Las Vegas with positive feedback from prospective investors. The Company also exhibited at the IMS 2017 Microwave Symposium (IMS2017) in June in Honolulu, Hawaii. This was a success and the Company expects to receive more orders later this year as a result. CFO Louisa Sanfratello commented, "We anticipate increased revenue and a return on investment based upon our R&D efforts for our existing and prospective new customers. The Company's R&D is focused on rapidly growing sectors ranging from Life Sciences to Quantum Computing so we are confident that our diversified product line will open up significant opportunities for us."

About Amplitech Group, Inc:
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF (Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets. These designs cover the frequency range from 50 kHz to 110 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 15+ 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: www.AmpliTechInc.com

Safe Harbor Statement:
With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, failure to obtain adequate working capital to execute the business plan and any major litigation regarding the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in the Company's periodic filings with the Securities and Exchange Commission.

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