MMTEC, Inc. announced that the press release issued on August 10, 2020 concerning the Company's three-month Consulting Agreement with Hitek Global Inc. ("Hitek") contained an inadvertent error. Under the terms of the Consulting Agreement, the Company will provide M&A, investment, financial and strategic planning advice to Hitek in consideration for a consulting fee of $750,000 to be received by the Company on execution of the Consulting Agreement.