UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On July 26, 2024, Amplitech Group Inc.’s (the “Company’s”) AGTGSS division entered into a Licensing Product Agreement with a leading radio contract manufacturing company (“Licensor”). Under the terms of the Agreement, the Licensor agreed to an exclusive United States distribution and global licensing rights for certain 5G telecom equipment for 18 months for the purpose of marketing, selling, renting, deployment, and maintenance of licensed products by the Company.
For these services, the Company will pay the Licensor certain software IP license fees in the amount of $1,250,000. In addition, the Licensor may provide certain product certification support for certain fees.
The foregoing description of the Agreement is qualified in its entirety by the full text of the Agreement, subject to the omission of certain information deemed to be (i) not material and (ii) would be competitively harmful if publicly disclosed, a copy of which is filed herewith as Exhibit 10.1 and which is incorporated herein by reference.
| Exhibit No. | Description | |
| 10.1 | Licensing Product Agreement | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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. | ||
| Dated: August 1, 2024 | ||
| By: | /s/ Fawad Maqbool | |
| Name: | Fawad Maqbool | |
| Title: | Chief Executive Officer | |