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SurgePays, Inc. (SURG)

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0.1500-0.0001 (-0.07%)
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Previous Close0.1501
Open0.1600
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.1415 - 0.1600
52 Week Range0.0460 - 0.3280
Volume286,815
Avg. Volume495,511
Market Cap17.841M
Beta (5Y Monthly)2.07
PE Ratio (TTM)N/A
EPS (TTM)-0.1050
Earnings DateNov 17, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.63
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  • SurgePays, Inc. Provides Strategic Update in Letter to Shareholders
    GlobeNewswire

    SurgePays, Inc. Provides Strategic Update in Letter to Shareholders

    BARTLETT, Tenn., Feb. 24, 2021 (GLOBE NEWSWIRE) -- SurgePays, Inc. (OTCQB: SURG) (“SurgePays” or the “Company”), a FinTech company building a next generation supply chain network that can offer wholesale goods and financial services for the underbanked more cost efficiently than traditional distribution models, today provides a strategic update on the Company in a Letter to Shareholders from CEO Brian Cox. To Our Valued Shareholders: Following months of under-the-radar execution, I am proud to provide an update to you on our progress and our path forward. As you know, Surge Holdings was a conglomeration of multiple business lines that were loosely affiliated with the common denominator of developing software solutions for what we determined were lucrative opportunities. Our corporate name change from Surge Holdings to SurgePays underscores that focus as we consolidated our FinTech, prepaid wireless, financial services for the underbanked, and wholesale merchandise marketplace into a single blockchain-driven platform that can provide convenience stores, bodegas, and mini-marts throughout the country direct access to these services and pass on this access and added security layer to the underbanked population. Over the last several months, we have expanded our capabilities in these areas. We created a more robust inventory of gift card offerings, widened the scope of our financial services to include gaming and other recreational services, and consolidated our direct store delivery (DSD) merchandise marketplace portal to facilitate the purchase of goods more easily by convenience stores at wholesale prices. As we have enhanced our offering to now include a comprehensive suite of value-driven products, our competitive advantage for not only adding stores, but growing market share, has significantly increased. Our management team is focused on corporate revenue growth and profitability through the “deep and wide” philosophy of increasing the number of retail stores on our network while also increasing the volume of products and services sold per store. I believe we have reached the stage in the country’s “re-opening” that allows our salespeople to more freely travel and add additional stores to our platform while visiting current customer stores to cultivate up-sell opportunities. Our plan is to increase our sales efforts utilizing a nationwide traveling sales team, an outbound calling sales rep team and through our continued use of independent sales organizations (ISOs) to sign up new stores while driving additional sales per store. Simultaneously, we will continue to increase the adoption of new wholesale product offerings (think phone accessories, bagged snacks, dry foods, herbal stimulants, CBD products, sunglasses, t-shirts, etc.) sold at our networked stores through our wholesale platform while increasing the variety of wireless top-ups, gift cards, phones, and prepaid SIM kits, all of which are in high demand by our targeted underserved end-markets. One of the ways we have identified to maximize our shareholder value has been to up-list the SurgePays stock to a major exchange, and we have been diligently working behind the scenes to make this goal a reality. Among the final pieces to the puzzle has been to ensure that our Board of Directors has sufficient independent members in order to meet Nasdaq’s criteria. We recently announced two new Board members, David May and Jay Jones, each of whom are leaders in their fields and are great fits for our business strategy. David May is a financial professional with significant experience in providing solutions to convenience stores, while Jay Jones has been involved in all facets of the wireless business, including network engineering, application development, corporate development, management of mid-size organizations, product development, business operations, and strategy. Their appointments have now brought our Board to an appropriate standard of independence, and the process is now underway to complete our up-list. Our Surge Logics business is an enterprise software development company providing marketing business intelligence (“BI”), mass tort (i.e., large class-action lawsuits) legal action client generation, and case load management solutions for law firms. Intake Logics is our proprietary cloud-based customer relationship management (CRM) software built on our years of data tracking and analysis to deliver optimal results. Our advanced platform helps law firms generate prospective leads for their mass litigation cases, qualifies and transitions these leads into robust cases, handles the extensive intake and case management processes - including data analytics for each case or campaign - and has generated over 200,000 leads for law firms and significant revenue and revenue growth since its introduction. While the business of Surge Logics is not like that of SurgePays, we have been able to apply our solution- oriented principles using software development and efficiency to grow them side by side. I believe it is important that a public microcap do what it does well and have a single focus under its own umbrella in order to more successfully tell the story when creating awareness among prospective shareholders. Thus, it is management’s goal in the near-term to determine how to best position the Surge Logics company strategically so that we can capitalize on its successful growth and leverage its inherent strengths while also maximizing shareholder value for SurgePays. I am very excited about the future of both companies and believe they are each ideally poised for success. In the coming months, I expect to increase our communication with our shareholders to provide details about how we are evolving both businesses and what those evolutions mean to SurgePays shareholders. I hope you are as excited by the coming days as I am, and I look forward to sharing the many successes we anticipate with you all very soon. Wishing you the best,K. Brian CoxChairman, CEOSurgePays About SurgePays, Inc. SurgePays, Inc. utilizes its blockchain software platform to offer a comprehensive suite of prepaid, financial services and wholesale products to independently owned convenience stores, mini-marts, tiendas and bodegas more cost efficiently than existing wholesale distribution models. Please visit www.SurgePays.com for more information. Company Contact:Tony Evers CPA, CIAChief Financial OfficerChief Operating Officer847-648-7541tevers@surgepays.com Media Relations:Jules AbrahamDirector of Public RelationsCORE IR917-885-7378julesa@coreir.com Investor Relations Contact:CORE IRJoseph Delahoussaye IIIV.P. of Investor Relations516-222-2560invest@surgepays.com Cautionary Note Regarding Forward-Looking Statements. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecasts," "forecasting," "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission (“SEC”), including on our Form S-1/A filed with the SEC on February 16, 2021. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future developments, or otherwise, except as may be required by law.

  • SurgePays Adds Jay Jones, Seasoned Telecom and Software Development Executive, to its Board of Directors
    GlobeNewswire

    SurgePays Adds Jay Jones, Seasoned Telecom and Software Development Executive, to its Board of Directors

    SurgePays satisfies the board independence qualifications for trading on a national exchange Jay Jones Photo Jay Jones, New Independent Board Member of SurgePays (SURG) BARTLETT, Tenn., Feb. 22, 2021 (GLOBE NEWSWIRE) -- SurgePays, Inc. (OTCQB: SURG) (“SurgePays” or the “Company”), a fintech company building a next generation supply chain network that can offer wholesale goods and financial services for the underbanked more cost efficiently than traditional distribution models, announces today that Jjkareem (Jay) Jones, a telecom and software development executive with over 30 years of experience, has joined the Company’s Board of Directors. “Jay brings a wealth of hands-on and executive experience in the telecom industry that will be a tremendous asset to us as we aggressively roll out our nationwide wireless LocoRabbit services through the thousands of convenience stores and mini-marts that are the epicenters of the underbanked communities,” said SurgePays CEO and Chairman Brian Cox. “With both David May and Jay joining David Keys on our Board of Directors, SurgePays satisfies the board independence qualifications for trading on a national exchange. We continue to focus on the up-list process while also executing our business strategy of offering products and services that are targeted towards the needs of the underbanked and underserved populations.” During his nearly 30-year career in the telecom industry, Jay Jones has been involved in all facets of the business, including network engineering, application development, corporate development, management of mid-size organizations, product development, business operations, and strategy. He is currently CEO of 321 Communications Inc, a competitive local exchange carrier (CLEC) and wireless MVNO providing telecom services to residential and business customers. Jay serves as an executive consultant to Paricus LLC, a business process outsourcing (BPO) company that provides call center services, software development, and other telecom related services and has offices in Colombia and the United States. He is co-founder of software development companies Unavo Inc. and Kavocky Group, where his role is focused on strategic business strategies while also working closely with both companies’ partners to assess new investment opportunities. “I welcome the opportunity to join the Board of SurgePays at such a pivotal time in its corporate development. It’s exciting to be a part of a forward-thinking fintech company delivering products to the traditionally underserved and immigrant populations. I believe SurgePays will play an important role in ensuring that all people are able to benefit from improvements in technology,” commented Mr. Jones. “I look forward to sharing my experience in the MVNO, telecom and software development industries to provide insights into SurgePays’s target market and industry best practices as the Company aggressively grows its network of stores and service offerings in the coming months.” About SurgePays, Inc. SurgePays, Inc. utilizes its blockchain software platform to offer a comprehensive suite of prepaid, financial services and wholesale products to independently owned convenience stores, mini-marts, tiendas and bodegas more cost efficiently than existing wholesale distribution models. Please visit www.SurgePays.com for more information. Company Contact:Tony Evers CPA, CIAChief Financial OfficerChief Operating Officer847-648-7541tevers@surgepays.com Media Relations:Jules AbrahamDirector of Public RelationsCORE IR917-885-7378julesa@coreir.comInvestor Relations Contact:CORE IRJoseph Delahoussaye III V.P. of Investor Relations516-222-2560invest@surgepays.com

  • SurgePays Welcomes David May, Leader in the Financial Industry with Deep Ties to Convenience Retail, to Board of Directors
    GlobeNewswire

    SurgePays Welcomes David May, Leader in the Financial Industry with Deep Ties to Convenience Retail, to Board of Directors

    David May David May, Director at SurgePays, Inc. BARTLETT, Tenn., Feb. 18, 2021 (GLOBE NEWSWIRE) -- SurgePays, Inc. (OTCQB: SURG) (“SurgePays” or the “Company”), a fintech company building a next generation supply chain network that can offer wholesale goods and financial services for the underbanked more cost efficiently than traditional distribution models, announces today that David May, a financial professional with significant experience in providing solutions to convenience stores, has joined the Company’s Board of Directors. “David’s perspective, having worked closely with convenience store owners and their suppliers for many years, will be invaluable as we diligently work to expand our reach to provide goods and services to those independently owned stores who are inadequately served compared to big-box or larger chains,” said SurgePays CEO and Chairman Brian Cox. “Moreover, the addition of David to our Board of Directors is an important step toward creating a Board that meets the independence qualifications for trading on a national exchange. As we continue the process of preparing to up-list, David’s presence and experience will help guide us toward this milestone.” “It is a great honor to have been elected to SurgePays Inc.'s Board of Directors. As a banker I have seen firsthand the vital role convenience store and convenience store wholesalers play in providing daily staples to the underserved and underbanked populations in American communities. Unfortunately, these same Americans, who are disproportionately members of marginalized communities, are typically forced to pay higher than average prices to meet their daily needs. SurgePays offers a solution through an innovative suite of fintech, telecommunication, financial services and distribution products that revolutionize the supply chain, allowing market pricing to independently owned stores. I am excited having recently seen firsthand how consumers and business owners alike have welcomed SurgePays products and services in the Memphis metropolitan service area. I look forward to assisting SurgePays in its expansion into the underbanked market nationwide and will continue to focus on providing resources and services to these communities as I have for the last 27 years,” said David May. David May has been a banking professional since 1994. Throughout his career, he has established himself as one of the leading convenience store and convenience store wholesaler financiers in the Mid-South through his cultivation of personal relationships and service to members of this close-knit community. David has been Senior Vice President of Commercial Banking since 2007 with Landmark Community Bank, a Memphis based commercial bank with over a billion dollars in assets with offices in the Memphis and Nashville, Tennessee markets. He has been a bank officer for both community banks and large regional banks over his 27-year banking career. David is a graduate of the Southeastern School of Commercial Banking at Vanderbilt University and, in the past, served as Chairman of the Board for seven years for The Agency for Youth and Family Development, a residential treatment facility for adolescent males. He is also a founding owner of Global Defense Specialists, a military aircraft fleet sustainment company specializing in Lockheed F-16’s and C-130’s and Northrop F-5 jet fighters. About SurgePays, Inc. SurgePays, Inc. utilizes its blockchain software platform to offer a comprehensive suite of prepaid, financial services and wholesale products to independently owned convenience stores, mini-marts, tiendas and bodegas more cost efficiently than existing wholesale distribution models. Please visit www.SurgePays.com for more information. Company Contact:Tony Evers CPA, CIAChief Financial OfficerChief Operating OfficerCell: (262) 347-7289tevers@surgepays.com Media Relations:Jules AbrahamDirector of Public RelationsCORE IR917-885-7378julesa@coreir.com Investor Relations Contact:CORE IRJoseph Delahoussaye IIIV.P. of Investor Relations516-222-2560invest@surgeholdings.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/694626ec-7ab9-48fb-b4a8-cc9e3c1c0b6f