I don't want to spend 150 USD for this thing :), but I want to do it myself.
It's a USB audio interface with preamps. I.E., a device for capturing audio signals and transferring them into a computer so you can record 'em. The 1/4 jack is for unbalanced inputs like guitars and cheap mics. The XLR jack is for balanced inputs like fancy microphones. I reckon it's also got 48V "phantom" power capabilities for the XLR input ('cause there's a 48V indicator). That's a nice feature. If this has real-time monitoring, I suppose together with a computer and powered computer speakers, it could function as an "amplifier," of sorts. But that's a draconian way of amplifying a microphone...
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Have you tried typing "amplifier" into the search box, at the top-right of every page?