BOHEMIA, N.Y., Dec. 4, 2014 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (OTCQB:AMPG) announced today it has successfully paid off its floorless convertible debt replacing it with a direct equity investment. This puts the company in a better position to obtain new investment capital on more favorable terms.
AMPG's CEO Fawad Maqbool stated, "We are very happy to be cleaning up our balance sheet. With the floorless convertible debt, we were unable to attract larger investors and, in our opinion, our stock was significantly undervalued. We are extremely pleased that we were able to pay off our unfavorable debts and can now begin to offer our shareholders and investors, new and old, a fresh beginning that truly reflects the enormous potential and value this company has to offer."
This is yet another milestone for the company's strategy to expand product and customer base, along with re-structuring on the path to growth and profitability. Mr. Fawad Maqbool further stated, "We are excited about the prospects the coming year may hold for us now that we are in a better financial position to execute our original strategic plan."
For additional investor information please contact James Moldenhauer, CEO of JP Fortune Group at 714-420-2004.
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, 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. Website: http://www.AmpliTechinc.com
CONTACT: Fawad Maqbool, CEO AmpliTech Group, Inc. (631) 521-7831 James Moldenhauer, CEO JP Fortune Group (714) 420-2004Source:AmpliTech Group, Inc.