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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (date of earliest event reported): May 16, 2024
AmpliTech
Group, Inc. |
(Exact
Name of Registrant as Specified in its Charter) |
Nevada |
|
001-40069 |
|
27-4566352 |
(State
of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer Identification No.) |
155
Plant Avenue
Hauppauge,
NY 11788
(Address
of principal executive offices)
(631)-521-7831
(Registrant’s
telephone number, including area code)
(Former
Name or former address if changed from last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.001 per share |
|
AMPG |
|
The
Nasdaq Stock Market LLC |
Warrants
to Purchase Common Stock |
|
AMPGW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
2.02 Results of Operations and Financial Condition.
On
May 16, 2024, AmpliTech Group, Inc. (the “Company”) disclosed in a Form 12b-25 filed with the Securities and Exchange Commission
that it will be unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the “Quarterly Report”)
within the prescribed time period without unreasonable effort or expense. During the quarter ended March 31, 2024, the Company made several
transactions in digital currency in the total amount of approximately $3.25 million. The Company believes that it was fraudulently
induced to hold its digital currency with a custodian who no longer exists. The Company is taking steps in an attempt to seek recovery
of the funds including discussions with local, federal, and international law enforcement agencies and private consultants and
is currently conducting a review of its processes and procedures related to this investment. At the present time, the Company is not
aware of, and does not expect any additional losses arising out or relating to the above described investment. In addition, the Company
does not believe that the Company’s systems, records, or other assets were otherwise affected or compromised in connection with
these investments. The Company hopes to file the Quarterly Report within the time period provided by Rule 12b-25 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or as soon as practicable.
The
Company anticipates that for the three months ended March 31, 2024, it will incur a net loss of approximately $4.7 million as compared
to a net loss of approximately $582,000 for the three months ended March 31, 2023. Included in the loss for March 31, 2024 is a loss
in the amount of approximately $3.25 million attributed to an investment in digital currency.
The
information furnished in this Item 2.02 on this Current Report on Form 8-K shall not be deemed “filed” for the purposes of
Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference
into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, regardless of any
general incorporation language in such filing.
Cautionary
Note Regarding Forward-Looking Statements
This
Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E
of the Exchange Act. Forward-looking statements include all statements that do not relate solely to historical or current facts, and
can generally be identified by words or phrases written in the future tense and/or preceded by words such as “likely,” “should,”
“may,” “will,” “contemplates,” “anticipates,” “intends,” “anticipates”,
“plans,” “seeks,” “believes,” “estimates,” “expects” or similar words or
variations thereof, or the negative thereof. Our actual losses could differ from those anticipated in such forward-looking statements.
All
information in this Current Report on Form 8-K speaks only as of the date on which it is made. The Company undertakes no obligation to
publicly update this information, whether as a result of new information, future developments, or otherwise, except as may be required
by law.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
AMPLITECH
GROUP INC. |
|
|
|
Date:
May 16, 2024 |
By: |
/s/
Fawad Maqbool |
|
Name: |
Fawad
Maqbool |
|
Title: |
Chief
Executive Officer |
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Entity File Number |
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|
Entity Registrant Name |
AmpliTech
Group, Inc.
|
Entity Central Index Key |
0001518461
|
Entity Tax Identification Number |
27-4566352
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
155
Plant Avenue
|
Entity Address, City or Town |
Hauppauge
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
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|
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|
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