AERGP Applied Energetics Inc (PK)

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) July 3, 2024

 

APPLIED ENERGETICS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

001-14015		77-0262908
(Commission File Number)		(IRS Employer Identification No.)

 

9070 S. Rita Road, Suite 1500, Tucson, Arizona		85747
(Address of Principal Executive Offices)		(Zip Code)

 

(520) 628-7415

(Registrant’s Telephone Number, Including Area Code)

 

 

(Former Name or Former Address, if Changed Since 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))

 

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. ☐

 

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 $.001 per share		AERG		OTCQB

 

 

 

Item 1.01 – Entry into a Material Definitive Agreement

 

On July 3, 2024, Applied Energetics, Inc. exercised its option to lease more than 5,000 square feet of additional space at the University of Arizona Tech Park to support the company’s investment in a new Battle Lab and laser manufacturing capacity to ensure it has the critical infrastructure in place to fulfill both current and possible future priority U.S. military programs. With this expansion, the Company will occupy approximately 26,000 sq. ft. of space at the Arizona Tech Park. The company took the option to lease this additional space under the June 7, 2023, amendment (the “2023 Amendment”) to its Lease Agreement with Campus Research Corporation, as Landlord.

 

The new space is a high bay, light industrial facility that is expected to host Applied Energetics’ Battle Lab to support laser system testing against relevant targets and emerging threats. The Battle Lab is expected to enable technology maturation and be the venue for customer and partner demonstrations under realistic and controlled conditions. The facility, as planned, will also provide the capability to manufacture, integrate, and test advanced lasers as Applied Energetics makes its anticipated transition of its technology to the next stage of its lifecycle.

 

As previously reported, the monthly base rent for the manufacturing space, is set as follows:

 

Rent Year		Monthly Base Rent
August 1, 2023 - July 31, 2024		$	4,843.50
August 1, 2024 - July 31, 2025		$	5,247.13
August 1, 2025 - July 31, 2026		$	5,650.75
August 1, 2026 - July 31, 2027		$	6,054.38
August 1, 2027 - July 31, 2028		$	6,458.00

 

The 2023 Amendment also provides for a tenant improvement allowance for the additional space of up to approximately $129,000 upon completion of work and compliance with the requirements for receipt of any requested disbursements under the allowance.

 

On the date hereof, the company issued a press release announcing the exercise of the option and containing additional details with respect thereto. A copy of the press release is filed herewith as Exhibit 99.1.

 

Item 9.01 -- Exhibits

 

99.1		Press Release, dated as of July 8, 2024, titled “Applied Energetics Announces Expansion of its Facilities at University of Arizona Tech Park to Support New Battle Lab and Laser Manufacturing.”
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this amended report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	APPLIED ENERGETICS, INC.
	By:	/s/ Gregory J. Quarles
		Gregory J. Quarles, President and
		Chief Executive Officer

 

Date: July 8, 2024

 

 

2

 

Exhibit 99.1

 

Applied Energetics, Inc.

 

Applied Energetics Announces Expansion of its Facilities at University of Arizona Tech Park to Support New Battle Lab and Laser Manufacturing

 

Tucson, Ariz., July 8, 2024 – Applied Energetics, Inc. (OTCQB: AERG),  a leader in the advancement of ultrashort pulse laser technologies (USPL), today announced that it has exercised its option to lease more than 5,000 square feet of additional space at the University of Arizona Tech Park to support the Company’s investment in a new Battle Lab and laser manufacturing capacity to ensure it has the critical infrastructure in place to fulfill both current and possible future priority U.S. military programs. With this expansion, the Company will occupy approximately 26,000 sq. ft. of space at the Arizona Tech Park.

 

The new space is a high bay, light industrial facility that is expected to host Applied Energetics’ Battle Lab to support laser system testing against relevant targets and emerging threats. The Lab is expected to enable technology maturation and be the venue for customer and partner demonstrations under realistic and controlled conditions. The facility, as planned, will also provide the capability to manufacture, integrate, and test advanced lasers as Applied Energetics makes its anticipated transition of its technology to the next stage of its lifecycle.

 

Key features of the Battle Lab are expected to include:

 

●

Multi-Domain Simulation: Enabling the simulation of complex environments, providing comprehensive testing capabilities for integrated operations.

 

●

Advanced Sensor Integration: Cutting-edge sensor technology to monitor and analyze every aspect of the testing process, delivering precise data to inform future innovations.

 

●

Real-Time Feedback: Offering real-time feedback and analysis, providing our engineers and developers with the right information to support technology integration efforts.

 

●

Collaborative Environment: A design that fosters collaboration, and provides a venue to host military and industry partners, encouraging the exchange of ideas and accelerating the development of our next-generation technologies.

 

“The build-out and development of this new extension is an essential step toward fulfilling our commitment to both current and potential future customers,” said Dr. Gregory Quarles, CEO and President of Applied Energetics. “The new capabilities made possible by this investment will play a key role in accelerating the continued testing and demonstration progress we have achieved with our best-in- class USPL technology. The new space will also provide us with a purpose-built advanced manufacturing, assembly, and testing space as we move through the development process to production.”

 

 

Applied Energetics, Inc.

 

Dr. Quarles added, “Arizona Tech Park has been an ideal location for Applied Energetics. The ability to expand our capabilities as our needs have grown in an efficient and cost-effective manner, within a thriving aerospace and defense community, along with the robust support from the Tech Park officials, and our partners at the University of Arizona, has been instrumental in positioning us for this next phase of our growth.”

 

About Applied Energetics, Inc.

 

Applied Energetics, Inc., a leader in Advanced Optical Technologies and Ultrashort Pulse Directed Energy Solutions, utilizes patented, dual-use laser and optical technologies to advance critical industries, including defense, national security, biomedical and manufacturing. Applied Energetics pioneered and holds all crucial intellectual property rights to the development and use of Laser Guided Energy technology and related solutions for defense, security, commercial, and medical applications.

 

Forward Looking Statements

 

Certain statements in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include all statements that do not relate solely to the historical or current facts and can be identified by the use of forward-looking words such as “may,” “believe,” “will,” “expect,” “project,” “anticipate,” “estimates,” “plans,” “strategy,” “target,” “prospects,” or “continue,” and words of similar meaning. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition and may cause our actual results, performances or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. We do not assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such forward-looking statements.

 

Applied Energetics, Inc. Investor information contact:

 

Kevin McGrath, Managing Director
Cameron Associates, Inc.
kevin@cameronassoc.com
T: 646-418-7002

 

SOURCE: Applied Energetics, Inc.

 

 

 

 

v3.24.2

Cover	Jul. 03, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 03, 2024
Entity File Number	001-14015
Entity Registrant Name	APPLIED ENERGETICS, INC.
Entity Central Index Key	0000879911
Entity Tax Identification Number	77-0262908
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	9070 S. Rita Road
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Tucson
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85747
City Area Code	520
Local Phone Number	628-7415
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $.001 per share
Trading Symbol	AERG
Security Exchange Name	NONE
Entity Emerging Growth Company	false

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