Surgepays Inc Stock Price, News & Analysis

SurgePays, Inc. (OTCQB: SURG) announces its subsidiary, LogicsIQ, Inc., has changed its name from Surge Logics, Inc. to LogicsIQ. This strategic rebranding aims to enhance its SaaS offerings targeted at law firms. CEO Brian Cox highlighted a remarkable revenue growth from $1.6 million in 2018 to $16 million in 2020, emphasizing the company's focus on organic growth and acquisitions. SurgePays is enhancing shareholder value through potential spin-offs or an IPO. LogicsIQ is based in Chicago and aims to be a leading provider of software-driven services for law firms.

SurgePays (SURG) announced its 2020 financial results, reporting a revenue increase of 111% to $54.4 million. Key developments include expansion of product offerings and enhancements in platform security through integrations with major cloud services. The company is progressing towards a Nasdaq up-list and has closed $2.3 million in bridge financing. A notable debt reduction of $2.65 million has also occurred, improving the balance sheet by eliminating 87 million shares previously reserved for this debt.

SurgePays has successfully retired a total of $2,645,825 in debt since January 1, 2021, which includes $1.48 million in recent repayments. This action has resulted in the release of 86,870,025 shares that were previously reserved for loans. The company aims to improve its balance sheet as it prepares for a potential Nasdaq uplisting. By eliminating this debt, the share overhang has decreased, enhancing the investment outlook for shareholders.

SurgePays, Inc. (OTCQB: SURG) announced on March 17, 2021, that it has successfully retired $1.17 million in debt since January 2021. This reduction was achieved through available cash and proceeds from recent bridge financing. The company emphasizes that this debt elimination is crucial for its plans to up-list on the Nasdaq, showcasing a strong balance sheet to enhance shareholder value. SurgePays operates a blockchain fintech platform offering wholesale goods and financial services aimed at the underbanked, focusing on cost-efficient distribution models.

SurgePays, Inc. (OTCQB: SURG) announced a $2.0 million bridge financing aimed at facilitating its up-listing to the Nasdaq and executing its business growth strategy. The funds will retire existing convertible debt and support the development of an outbound sales team focusing on prepaid products and other wholesale goods. The CEO highlighted the significance of this financing in expanding the company’s distribution network and increasing sales, particularly targeting the underbanked demographic.

SurgePays, Inc. (OTCQB: SURG) has undergone a strategic transformation, changing its name from Surge Holdings and consolidating its operations into a blockchain-driven platform. This platform offers convenience stores and mini-marts direct access to financial services and wholesale goods, targeting the underbanked efficiently. The company plans to expand its retail network and product offerings through enhanced sales efforts and strives to up-list its stock on a major exchange, supported by its newly appointed independent board members.

SurgePays, Inc. (OTCQB: SURG) has appointed Jjkareem (Jay) Jones, a seasoned telecom executive, to its Board of Directors. With over 30 years in the industry, Jones brings extensive experience in network engineering and corporate development. CEO Brian Cox highlighted that this addition fulfills the board independence requirements for national exchange trading, aligning with SurgePays' strategy to serve the underbanked through its LocoRabbit wireless services. SurgePays continues to pursue its up-listing process while enhancing its offerings for underserved populations.

SurgePays, Inc. (OTCQB: SURG) announces that David May has been appointed to its Board of Directors. May, a seasoned financial professional with extensive experience in the convenience store sector, is expected to provide valuable insights as SurgePays aims to expand its services to underbanked communities. The company's CEO, Brian Cox, emphasizes that May's expertise will aid in achieving compliance for national exchange trading. SurgePays leverages blockchain technology to deliver cost-effective financial services and wholesale products to independently owned convenience stores.

Surge Holdings Inc. (OTCQB: SURG) has engaged CORE IR to enhance investor relations and public outreach. CORE IR will work to boost market awareness of Surge's unique business model, which focuses on assisting underserved and underbanked populations in fintech, telecommunications, and media sectors. Surge's CEO, Brian Cox, emphasized the importance of raising awareness about their services to retail merchants, such as convenience store operators. CORE IR aims to facilitate greater engagement between Surge and the investment community, supporting the company's growth objectives.