Bohemia, NY , Oct. 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- AmpliTech Group, Inc. (OTCQB: AMPG):

On Wednesday, October 9, 2019, Amplitech hosted a conference call to discuss its current intellectual property assets and strategy with its intellectual property advisers, ipCapital Group, followed by a Q&A session with investors. https://recordings.conferencecalling.com/mp3/1522431/-2/1522431—IPSTORY1092019—20191009211838250.mp3

Fawad Maqbool: Hello, everyone. My name is Fawad Maqbool, and I'm the CEO of AmpliTech Group. I welcome you to our first investor call. I'm very excited about AmpliTech's IPstory that you will shortly hear about. But first, let me give you a little background about myself.

I'm a biomedical engineer, microwave engineer, specializing in communications, and I've been designing RF microwave components, especially the low-noise and special amplifiers for over 30 years now.

Many people don't recognize the importance of the kind of products that we specialize in, but it's our hope, today, that experts in this field--our friends at ipCapital Group--would be able to give everyone a good idea of the significance of our technology, and the very valuable intellectual property that it represents for AmpliTech. You will see that our technology plays a big part in applications that we all use and enjoy every day, and AMPG is poised to enter into many areas of the multibillion-dollar hi-tech arena.

With that brief introduction, I'll give the floor to John Cronin of ipCapital Group so that he can give you AmpliTech's IPstory.

John Cronin: Thanks very much, Fawad. And good afternoon to everyone. This is John Cronin here in Vermont with ipCapital Group, and Seth Cronin is here as well to help out. So, we're going to be talking about the IP story. First of all, before we begin, I just want to say that we do not practice law; we work with hundreds of attorneys all over the world. We do what attorneys do not do, but we're only working on the business, market, product, tech side of the intellectual property and try to figure out how to put it in a context for people making business decisions.

The agenda today would be to introduce ipCapital Group and then the IP story. We'll have some slides here which we might not spend a lot of time on but are up there in the passage and available for all the people on the call, as well as recording this and having this transcribed. So, you'll be able to have that as well.

But I think you all know AmpliTech, so we'll go past that and get to ipCapital Group. ipCapital Group has been around for 21 years. I started the company; my background was originally from IBM; I was there for 18 years. I became the top inventor in the company within a four, five-year timeframe, and I created and managed the patent factory of IBM which grew from 1,000 patents to 3,500 patents a year, and their secondary licensing team grew from 20 million to several billion dollars a year in licensing. So, I had the ability to work on lots of different technologies at IBM as an electrical engineer. And so, AmpliTech, as we got into it, was a technology we knew very, very well.

So, we've been working with companies to help them on innovation and IP strategies, we advise them on how to monetize and create more IP, and our processes with their client expertise allows us to figure out how to get the highest returns, and we have serviced a wide range of industries, and we are at just about out 1,000th client this year.

As I mentioned, we work with hundreds and hundreds of client and service trusted advisors, we've worked for about 15 percent of the Fortune 500 companies--but about one-third of our business is, like AmpliTech, working with truly revenue companies--small revenue companies looking to get more investment and to grow.

And what we try to do is help investors and decision-makers price in the value of intellectual property. And we have many different areas that we've worked in over the years. I've highlighted semiconductors and telecommunications which we've done a lot of deals in--my personal background, I've been involved in semiconductors for about 20 years.

So, next, I'll get into the IP story. But before I do that, I just want to give you and idea of how these IP stories are used and how investors, when they look at it, should take away from these stories, and then we'll just head towards the future.

First of all, when we look at the patents and so on--you might be able to read those, but not being an expert, you may sort of want to do some diligence on it. We'll shortly do that. But one thing you'll never be able to get very easily is the understanding of other parts of intellectual property, like the trade secrets and the value of the publications. So, we have to take a holistic viewpoint of looking at the patterns, the trade secrets and publications of the company, as well as the team and how they strong they are from inventive standpoint.

So, many times, investors using these stories will recognize if the story is very good, that they have a good intellectual property that can hedge the bet of the investment. And in the case of AmpliTech, they're very good stories, very powerful stories with AmpliTech's technologies. So, investors maybe should take away from this that the story tries to put some very technical information in IP in the context of a business story that allows you to see how it plays out.

This framework we call the IP story helps us figure out, first of all, what the IP assets are that are already inside. But then, we also want to connect it to the business deeds. So, we go through a series of interactions with the company to understand the business, the market, the product, the technologies, and the assets, and we're trying to align these. So, sometimes, companies have IPs that don't align with the business; sometimes, the IPs directly align with the business. Happy to say that AmpliTech's IPs relate directly to the business. So, we will be going through several slides in each of these businesses, market, product technology. But we won't spend as much time in the business and market because they're more easily diligence and there are sources of information third-party, that we would include. So, I'd like to spend more time in the product-supporting technology in the IP assets.

This slide is the slide that we would show at the end again, but it's the whole story in one slide. One of the things about AmpliTech is that it helps improve communications, it helps really scale for high-volume markets, and for security and reliability. One of the big needs in this business is to do low-noise, and to get low-noise figures of merits to be able to have the best signal-to-noise ratio. You need to be able to do that at high volume in manufacturing, and that's not an easy trick; taking noise out of a system and have it be repeatable because you have to buy components over and over again, you have to know each component and the quality of it--you have to pick the right components.

But once you get to high-volume manufacturing, you can use this for rather interesting business applications like anti-hackable security and using these in extreme environments. And that's really favored by a pretty large market. So, if we look at the market--400 billion in wireless; 520 billion in the internet of things--where high-volume manufacturing could be--the defense industry itself is 116 billion. And also, for extreme environments like quantum computing, which is brand new and headed towards 5.9 billion, and then blockchain is at 1.2 billion.

When you translate those markets to products, what you need is a lever, which AmpliTech has done and what it's doing now to supply low-noise amplifiers to Fortune 500 companies, to military and government agencies. Basically, the product components should be custom low-noise amplifiers and filter networks. But in those products, you could then drive those towards monolithic microwave integrated circuits, and actually make integrated circuits to have scale of production.

Once you do that, you now have the ability to build, right into the hardware, security systems. And, indeed, AmpliTech has a product called AmpliTrust Security. And this even has applications in cryogenics where AmpliTech's product technology really shines, because it's actually designed for these levels of temperatures where other low-noise amplifiers would have all sorts of problems being scaled down into those temperatures.

So, product technology is the very strong technology that they have in terms of the design of these low-noise amplifiers, the manufacturing, and the testing, figuring out how to get a low-noise amplifier and a filter to work, from all the millions of components out there, to pick the right components for the right design, and then figuring out how to manufacture it, how to connect them together, how to have the right context and wires that actually do that. And then how to translate that to sort of a fabulous design that can be done within minutes, and then to drive that into a secure chipset that could be driven into cryogenics.

So, the assets are really kind of interesting. They have a lot of proprietary designs for wireless receiver components, they basically have all the 800 trade secrets that we've cataloged into models. These trade secrets cannot be copied, so that's a valuable asset of AmpliTech. Another is that they have a lot of trade secrets know-how and algorithms on the filter network miniaturization; and No. 3, they have a lot of trade secrets and know-how on the manufacturing, testing of suppliers.

On the other hand, we get to towards other areas of the assets that are patentable. We believe that they have patentable assets in the mimic design, chipsets, and the manufacture, and also patentable designs as they scale down into cryogenics. And to the far right, you see some of the 11 different patentable inventions that we'll talk about a little bit later. But inventions that have to do with systems of mimics and hardware security, No. 6--or, in No. 10, systems of cryogenic amplifiers.

Before I move off of this slide, we uncovered a very powerful feedback loop, and that is that once they design a product using the IP assets of the trade secrets--which nobody can get--that they can literally patent the product going out of the door without the know-how of how it was designed and built. That then produces a new IP, and also then gives new ideas for new products. So, every new product that goes out the door is covered by trade secrets and was covered by patents, but further creates new trade secrets and new patentable inventions that can help create new products. And that's a very strong feedback loop that the company has to grow.

One of the other things is, because of the trade secrets and because of this dual protection of patents and trade secrets, we believe there's hundreds of inventions that could be filed as patents. Because of this, it's a very strong strategy that will really disallow any competitors from copying the products, and even if they tried to close to copying the products, we would have patent protection for every product that goes out.

Now, I mentioned, on the front end, that we'd talk about the business to market to product technology, but I wanted to spend more time on the product and technology side. So, basically, what we did is we quantified the business needs to actually find out independent sources to show that there are the main business drivers of low-noise figures of merit, scalable high-volume manufacturing, anti-hackable security, and extreme environments. And there's all these different references, and you can click on these references and see that these business needs are backed up by third-party results. So, that told us that their business needs seem to be the business needs of the industry, which was a checkmark.

We take a look at the market once again, we can see the third-party references of worldwide receiver market are headed to 4 billion, IoT 520 billion, global cybersecurity, 116; and then the blockchain and the global enterprise quantum computing, 33 percent. So, all these markets are once again backed up by third-party sources. So, once again, another checkmark. So, going backwards to this slide, we understand the business needs and they're backed up by real markets that AmpliTech is in.

I'd like to get into the products that AmpliTech is building, has built, or will be building. On the custom low-noise amplifier, of course, we have designs that they can develop for standard, state-of-the-art components, commercial, SATCOM, space, military markets--and they cover a wide range of frequencies from 50 KHz to 40 GHz, and eventually, they can get up to 100 GHz. And these low-noise amplifiers would be used, as well as medium-power [?] amplifiers, in all sorts of applications in telecom. Another part is the custom mimic as you get to high-volume manufacturing and put them in a mimic, you can now take these, and integrate them, and have monolithic microwave-integrated circuits that would be used for high volume.

So, now we move into the semiconductor space. And then the specific markets of things like gallium, arsenic semiconductor circuits that could be used in the AmpliTrust Security, where they have small, portable boxes that they use as routers or access points, that end-to-end can be at the hardware level secure. And finally, you take all this, and reduce it in size, and now you can put it into extreme low temperatures, making your own extremely fast, so they can now retrofit all of these solutions, things like... whether it's CDMA or GSM, have retrofittable solutions that can get to low noise for really advanced speeds.

I mentioned the supporting technologies, and I would like to take you into those technologies in a little deeper detail. So, we want to talk about the low-noise amplifiers and the filter designs, and then how that plays out in terms of the mimic to secure chipsets and the cryogenic capable designs for manufacturing.

So, first of all, let's simplify things. Let's take a look at a wireless receiver, for investors and people on the phone that basically, might not know what goes into it. Basically, you can imagine you have a receiver like is in your phone--you must have a transmitter--and receivers you use for RF signals. And imagine, for instance, there are all sorts of signals out there. There's AT&T and Verizon--and there are also all sorts of stray signals out there. You could be going by a construction site and there could be a high-frequency field-based quantum generator--or there could be an electric storm. So, what the wireless receiver needs to do, is it needs to filter out one carrier from the next, and also to filter out all those stray signals. As it filters out, it's getting rid of signals, which means it's getting rid of information, but it's also getting rid of all these signals, but the noise factor may start to be higher than the final signal that you want. So, what we want to do is reduce the noise as we filter it out. So, what we're going to do is look inside the two components of filter and low-noise amplifiers. As we look inside the filter, by itself, we're pleased to find out that there's been decades' worth of work involved in figuring out how to create these filters. From the right-hand side, you can see a filter with general stray signals, we build a noise filter that essentially takes out those stray-noise signals to get the signal that we want, and that's called a filter.

Well, if you want to build a filter, electrical engineering principles, you have to have a lot of technology and knowledge about certain components out of lumped elements. So, you have resistors, capacitor, and adapters--and by themselves, they have a certain known quantity, and of course, you do research to find out which are the best three to work together and consistently. But there's also the distribution of those elements in a system. So, as the signal propagates across the circuit, you could have inductance, or capacitance, or resistance of the wires between the components.

So, they've done a lot of work on an engine where they can put in thousands and thousands of lumped elements, and understand, once it's computed, what the distributed element, to actually, at the end, build a resonator. And a resonator, if you think about it, think about it as a tuning fork that you build a tuning fork with the right frequency, and hence they can build the resonator for the exact right frequency, given the lumped elements and distributed element.

In order to do that though, they had to take another jump. The jump they took was recognizing that they should fractionalize the components to get higher accuracy. So, they are now taking inductors, so instead of having one inductor that has maybe a certain nanohenries, they fractionalize it into smaller units like Lego blocks, so they could be more specific about the exact amount they want. And if they have algorithms to do this so there's fractionalization with the filter network engine, it gives them a huge advance in the art of building filters. So, this is a proprietary engine that they've built, with the ability to miniaturize the components with fractionalized algorithms. These are trade secrets, for sure, that gives them advanced ability to get filters built.

So, the next thing is the low-noise amplifier. And Fawad and his team--basically, it was an endless discussion about the trade secrets and the technology that they have. We won't go through every block here, but first of all, safe to say that there's a lot of things going on inside the low-noise amplifier at AmpliTech. You might not know that they have a huge library of devices, and they have algorithms to figure out which devices to select. They need to be able to match transistors to optimize the impedance of transistors to the components. They actually have low-noise figures of merits and methodology to look at all the different gallium, arsenic FETs, and look inside of them to try to figure out which has the low-noise.

One of the noise figures of merit is called 1⁄f noise; as the frequency goes down, the noise goes way up. If you get 1⁄f noise in your system, it's incredibly hard to get out. But 1/f noise relates to the kind of noise that has to do with the physical components, the wires and semiconductors, and traps, and all sorts of things that occur as defect. So, they actually pick components that have the lowest 1/f noise through arduous testing, and then they use that again before they put it into the low-noise amplifier.

And that's just not figures of merit of the semiconductor intrinsic strength, conducting strength parameters, et cetera. They also, as you start looking at 1/f noise, they have an entire 1/f noise methodology with noise testers and a huge set of capabilities to understand the 1/f noise. Once it's understood, they now come up with different components, and now they can take that knowledge and their algorithms and build them into semiconductors. And so, they have, as a foundry would, they can select the right foundry because they can build circuits for themselves in a topology and lay it out based upon the foundry's capability. And these processes that they have produce things that are repeatable, and we're not talking about just repeatable functionality in order to get the repeatable functionality, they go to the absolute understanding of the length of the wires that they use to connect between the components. They go deeply into the bonding of those wires to each other, and they also do a lot of tuning of discrete components, the distributed nature of the filter and low-noise amplifier, and then tune it.

And then finally, as we take a look over on the right-hand side, as they deal with things like ultra-wide wide beam with amplifiers, they have matching network technology there that allows them to optimize all the inductive components. And then they finally end up in this customized design package with those basic abilities to kind of look at reduced resonance, et cetera--and even get to the level of a very sophisticated technology or TEM and quasi-TEM--TEM is Transverse Electromagnetic Wave. If you ever look at coax line, you have basically a horizontal component of magnetic in a radio component of electric, so TEM. But that TEM can be different when you go into a microstrip--which they do--where the signal can be propagated differently within the material and in the air across that material. So, they have sort of a quasi-TEM. This is advanced math and advanced technology. Fawad was not kidding when he spent 20 to 30 years in this space. He has a lot of knowledge in this space.

But the markets that they supply for--block chain, quantum computing, security encryption, 5G, 4G--even 6G--and a large market to IoT and all the life sciences--there's huge applications. One of the other things about this wireless receiver is knowledge of all these market applications exist, but they exist in many use cases, consumer, enterprise, and rigidize and military, and it's not all only all of those different markets against all of those use cases as a cross-section, but it's also, they can build it in a transmitter or the receiver combinations thereof. So, that cube, if you will, of the markets versus the use cases for transmit or receive, provides an enormous capability of changes of the market. The question is which markets to go after, and what's it's really needed? But their basic filter technology low-noise amplifier technology allows them to play in any one of those cross-sections.

Finally, as we get towards the intellectual property, I had mentioned that we picked some assets out. And not to go through these in any detail, but we picked the top 11 to be written up as our patents, but there's a whole bunch of areas with trade secrets as I mentioned, this library model of low-noise amplifiers, there's over 800 of those, there's many trade secrets in the filter networks, many aggregation algorithms, and also the know-how of how to manage, and test, and know which suppliers are good and which aren't.

In four or five, there's methods to produce high-volume automated manufacturing of the mimic, and methods of working with the foundries, even. And that's a lot of know-how and trade secrets. And then they have a system and hardware for security for each of the 3G, 4G and methods of encryption, and they even have methods to make--and systems of cryogenic amplifiers at the quantum computing area.

So, what we did is we took a look at each of those ideas and trade secrets and tried to figure out where they were based upon a subjective understanding, by ipCapital, of what is considered to be valuable. And we took on the first 50 inventions--because I mentioned they were hundreds--and we said, "Let's take that as a sample set." And we recognized that almost 35 to 40 percent were high priority, meaning these would go right into becoming patents. And of those, there were ten to 15 that were high-priority trade secrets. So, basically, we identified 31 potential patents of which 15 were considered high-priority and they had the trade secrets. As I mentioned, the feedback loop between the final IP and product design produces an enormous ability to defend against copycats.

Once we took a look at those ideas, we said, "Well, let's just do a cross, we have to figure out, ‘Are the ideas just in one part of the low-noise amplifier or of the filter design?'" We were, once again, happy to find out that these ideas were distributed across the entire internal technology of low-noise amplifiers and of the filter design. What that means, ladies and gentlemen, is that not only do we have trade secrets and do we have a patent that will be cross-refed for protection, but we can also build inside the cube of the market risk of the use case of transmit versus receiver, but it also means we can protect various aspects of the landscape. So, we have a very robust ability to protect what we think the copycats may be.

So, in ending this story, we're back to where we began. As I mentioned, our method of the IP story, it helps to inform investors from the business, the markets, the product, supporting technology, and the IP assets. We always start with the IP assets, trying to get very technical quickly, to figure out what the IP assets are about. That then drives us to try to map out and creates these landscape pictures of the technologies that I showed you of low-noise amplifiers and the filter, and then try to simplify it so that investors can understand sort of what they're trying to do and the complexities thereof. We then map that to the products that they are either doing or will be doing, and then we take it from the other side to say, "Does it make sense? Is there a real business there for things like low-noise figures of merit and high-scale volume manufacturing, anti-hackable, and extreme environments?"

And by filing third-party data, we were able to convince that there's real business needs there. Then the next question is, "Is there money to be made?" So, we then looked at the market with the support of those, and we found out these huge markets in the area of wireless receivers, in the Internet of Things, in defense and security, and in quantum computing and blockchain.

So, in a tight package, we got convinced that they had great intellectual property, from trade secrets and potential patents that we could write, that they know what they're doing inside the technologies of low-noise amplifiers and filters with huge years of experience, with this incredibly powerful IP product feedback loop, that once they get the IP assets in place, they already have the trade secrets with the patents, that gives them further leverage to find out new products that could be designed within that massive market capability of applications.

Thanks very much, and I would turn it back over for questions. And I would leave us on this slide here to talk about.

Operator: Thank you. At this time if you wish to ask a question you may do so by pressing the * and 1 on your touch tone phone. You may withdraw your question at any time by pressing the # key. Once again it is *1 to ask a question. We will pause a moment to allow questions to queue.

Once again that is *1 to ask a question.

We'll take our first question from "Shareholder 1". Please go ahead.

Shareholder 1: Hi, Fawad. Thank you for taking my questions. So, looking at this presentation, it's quite technical. And so, I'm wondering here, what's the purpose for this exercise going forward? Are you saying that the company will pursue filing potentially up to 30 patent applications, and then try to license some of the intellectual property once its protection is granted, license it for... upfront license fees? Or are you saying we're going to spend X amount of dollars to build a wall around our technology before we really scale up into these markets? What is the immediate or near-term financial impact on the company here, going forward?

Fawad Maqbool: That's a question for me, Fawad?

Shareholder 1: Yes.

Fawad Maqbool: Well, right now, basically, this is to get the information across that AmpliTech has in possession, and not only trade secrets, but very valuable technology that can be patented. And it's not something that we're going to do all at once and patent all 31 patents--or whatever it is. We're obviously going to take one step at a time and see, as John pointed out, focus on the technologies that are going forward right now, and then proceed in developing these products first, finalizing them, and pursuing patents when necessary.

It's not something that we're going to jump into right now and just spend a lot of money just developing patents. So, this is basically informative to make our investors understand that we have technology, that's not something that we just talk about, but something that's in play and that's going to be in play in the near future, and we will support as we go along--as we develop the product, to protect it, then we will go after the patents.

Shareholder 1: Okay. So, without putting words in your mouth, it sounds like you're going to go after the lowest-hanging fruit of protecting the future revenue of the company--that is the company would manufacture its own products. Generally, you're not taking about filing the number of patents and then trying to immediately... either exclusively or non-exclusively license those out for royalties or upfront license fees. The strategy here it to go after the lowest hanging... get patterns where appropriate and then develop the products internally and address the markets internally, you're just building the wall and the moat.

Fawad Maqbool: Yes. Yeah, right now, one of the board members... Wayne, I don't know if you want to add something to that?

Wayne Homschek: No, I think, Fawad, it might be worth mentioning one or two practical examples of what we're looking at--EG, cryogenic, or wireless infrastructure. I think there are some specific things that we're going to go after, and whether we file patents ahead of that or not, I think the shareholders are most interested in, commercially, where the real opportunities, where is the lower-hanging fruit? So, Fawad, you might want to just touch on one or two of the things that you think are most likely in the near to medium term.

Fawad Maqbool: So, all these technologies, most of it is already developed. So, the lowest-hanging fruit right now, we're going to have to do wireless connectivity business, which is the wireless base stations and towers, and also the SATCOM business. The SATCOM business is booming right now, lots of companies are putting up satellites and trying to develop a sky net, as well as a high-speed data satellite.

So, we already have those products, and we're already supplying these products as we go to LNA guys for all these advanced projects, that all these companies are doing like Google, ViaSat, and all these other customers.

So, that's our low-hanging fruit. We already have the LNAs in that form, but what we're trying to show is that we're going to get into the larger-volume applications, and that's what takes a little bit of development, and we have to make sure that we can protect those and this is how we're going to protect them when we get into those large-volume situations.

So, right now, we definitely have a nice revenue stream coming in from our products that we have right now. But we're going to be going after all these other larger markets. And as we go and we develop each product in those larger markets, that's when we're going to see patent protection for the company is safe. And we don't have any particular models, but those models for licensing or manufacturing will be decided upon when we get to that point.

Shareholder 1: Okay. Well, it would be really nice, going forward, to keep us updated on either a regular basis or when the timing is right, with these product press releases that, very often, they're called "Design wins" and so and so. For example, if you decide to file a patent or two, maybe put it out that, "————— [00:31:49], hey, we filed," or, "Hey, it was granted, and we're entering this or that market." And I'm talking about formal press releases other than quarterly or annual press releases. So, we'll see how the company is growing over time. And when you mention "near to medium-term", what is that in your mind? Let's say two to three months from now. Should we start seeing some news or some potential design announcements based on these technologies here?

Fawad Maqbool: Hopefully sooner, but there are a lot of things that are in play right now, and it's just basically market conditions that determine when it would happen. So, we cannot exactly guarantee when it's going to happen, but everything is already in play, it could happen any time. So, it's hard to say when, but we're definitely looking for a good quarter, and we're definitely looking for growth in not only product lines, but everything to make the company grows in the right direction.

Shareholder 1: May I ask you--if it's appropriate, if it's okay--whether any additional intellectual property came from Specialty Microwave, something that AmpliTech didn't have complementary, and what is revealed by this engagement?

Fawad Maqbool: Not yet. But almost everything in Specialty Microwave is intellectual property, because that's what the name is, it's "Specialty Microwave", there are very special companies that do special things, and their base business is in satellite components and supporting the SATCOM business. Their largest customers are all these customers that provide data, as well as TV stations, and news coverage, and all those things. So, their components are behind every receiving antenna of many of these kinds of applications for SATCOM.

So, as that grows, what our goal is to grow this business tremendously, because now, we can support our regular customers with not only LNA products, but also with products that are going to be the larger chunk of that whole chain behind the antenna. So, it's all whole new products, and specialty is geared for that kind of application, so they have a unique product line.

Shareholder 1: Excellent. So, there is a whole lot more IP coming from them that wasn't even reflected in this presentation.

Fawad Maqbool: Yes. Yes.

Shareholder 1: Okay. Final question: how many... should we say engineering and R&D stuff did you bring into AmpliTech through the acquisition? How many new improvisations that you would... specialized knowledge and bring intellectual property to the new AmpliTech from specialty microwave? How many new engineers and IP guys, so to speak?

Fawad Maqbool: All of them are--they're all engineers, but you have at least two engineers that have done that design technology for many years, and the rest of them are all support groups.

Shareholder 1: So, how many people are we talking about?

Fawad Maqbool: There are eight people in that company.

Shareholder 1: Excellent. Okay.

Fawad Maqbool: The idea is that services that they provide, they have their own manufacturing services, they have their own machine shops, and they have things that are able to support our manufacturing and our resources. So, it's a good fit where we come out with much more product lines, and we share the resources so that we can lower the cost for the company together.

Shareholder 1: Fantastic. And would you be able to put this presentation in a PDF format on the AmpliTech website, maybe even tweeted out, if that's okay? So, we download a PDF to our own computers?

Fawad Maqbool: Yeah, we can do something like that for a limited time, or we can just send it to specific requests, or send it to specific investors who are looking for something.

Shareholder 1: Wonderful. Thank you very much for putting together this call going forward.

Fawad Maqbool: You're welcome.

Operator: Once again that is *1 to ask a question. And we will pause another moment to allow questions to queue.

It appears we have no further questions at this time.

Fawad Maqbool: I guess there are no further questions. So, we can end the call. Wayne, anything to add?

Wayne Homschek: No, that's great. Thanks, Fawad. I think this was very helpful, and we'll look forward to making further releases as and when things develop. Thank you.

Fawad Maqbool: Great. Thank you, everyone, for attending the call. We appreciate it and stay tuned.

Shareholders can request the ip Story presentation by contacting Louisa Sanfratello, CFO at louisa@amplitechinc.com.

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.

Forward-looking Statements
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. (631) 521-7831

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