AmpliTech (AMPG) - 2025 Q1 - Quarterly Report

Revenue and Sales Performance - Revenues increased from $2,293,331 for the three months ended March 31, 2024, to$3,599,099 for the three months ended March 31, 2025, an increase of approximately 56.94%[181] - 5G sales were approximately $75,000, while Spectrum sales increased by$1,361,099, or 108.67%, attributed to a rebound in the Asian markets[181] Profit and Loss - Gross profit increased to $1,187,870 for the three months ended March 31, 2025, compared to$882,630 for the same period in 2024, an increase of 34.58%[182] - The Company reported a net loss of $1,840,521 for the three months ended March 31, 2025, compared to a net loss of$4,655,161 for the same period in 2024[188] Research and Development - Research and development costs rose to $739,673 for the three months ended March 31, 2025, from$276,755 in 2024, an increase of 167.27%[185] Financial Agreements and Transactions - The Company entered into an equity distribution agreement to offer and sell shares of common stock with an aggregate offering price of up to $25 million[169] - An asset purchase agreement was signed for the acquisition of assets, including intellectual property, for a total purchase price of$8,000,000[171] - A non-binding letter of intent was established for the purchase of $78 million of the Company's Oran radios, with$810,000 in purchase orders received to date[178] Investment and Financial Position - The Company recorded a complete loss from the investment in digital assets of $3,248,911 due to fraudulent transactions[168] - The outstanding balance on the Revolving Line of Credit was$0 as of March 31, 2025, with a credit limit of up to $750,000 established for general working purposes[174] - As of March 31, 2025, the company had cash and cash equivalents of$16,942,201, a decrease from $19,315,984 as of December 31, 2024[193] - Working capital as of March 31, 2025, was$24,600,230, down from $26,795,745 as of December 31, 2024[193] - The accumulated deficit increased to$22,852,648 as of March 31, 2025, compared to $21,012,127 at the end of 2024[193] - The company believes it can meet its obligations and capital requirements for the next 12 months based on its current cash and cash equivalents and forecasted cash flows[194] Accounting and Regulatory Compliance - There have been no significant changes to critical accounting policies during the three-month period ended March 31, 2025[196] - The company regularly assesses the impact of changes in laws and regulations on its operations[197] - No off-balance sheet transactions were reported[198] - Smaller reporting companies are not required to provide detailed market risk disclosures[199]