SurgePays, Inc. - SURG STOCK NEWS

SurgePays, Inc. (Nasdaq: SURG) reported a remarkable 73% month-over-month revenue growth in December 2021, driven by its mobile broadband subsidiary, SurgePhone Wireless. Total subscribers surged to approximately 30,000, generating revenues of nearly $3 million monthly in less than six months. SurgePhone operates as a licensed mobile virtual network operator (MVNO) using AT&T and T-Mobile networks, providing essential services to the underbanked population across 14 states. The company aims for over 200,000 subscriber activations in 2022, highlighting its growth potential.

SurgePays, Inc. (Nasdaq: SURG) has engaged investor relations specialists MZ Group to enhance its strategic communications and increase visibility in key markets. The partnership aims to amplify shareholder communication and brand awareness, particularly in fintech solutions for underbanked communities. CEO Brian Cox expressed optimism about driving revenue growth and maximizing shareholder value as the company expands its blockchain and mobile broadband offerings. MZ Group brings extensive experience in investor relations, helping SurgePays capitalize on its business strategies.

SurgePays, Inc. (Nasdaq: SURG) has developed a new software platform, allowing customers to purchase cryptocurrencies like Bitcoin, Ethereum, and Dogecoin at over 8,000 local stores without needing a bank account or credit card. This feature, set for release in January 2022, will facilitate cash transactions between $50 to $1,499, with customers receiving receipts to load coins into their digital wallets. This expansion enhances SurgePays' fintech services and aims to assist the underbanked population, positioning the company as a leader in this sector.

SurgePays has appointed Jason L. Aaron as a consultant to enhance its national sales strategy, following its recent uplisting to Nasdaq. With over 8,000 retail c-stores currently served, the fintech company aims to build an in-house sales team to expand its footprint and boost same-store sales significantly. Aaron brings nearly two decades of experience in sales leadership and strategic partnerships, which will aid in designing compensation plans, training, and performance standards. SurgePays is targeting a future expansion to over 50,000 stores, potentially generating $2,500 in monthly sales for each.

SurgePays, Inc. (Nasdaq: SURG) reported over $4.2 million in revenue from the Emergency Broadband Benefit Program (EBB) in just four months. As of November 30, 2021, more than 19,000 enrollments had been completed, primarily in Tennessee and Mississippi. The company plans to expand aggressively into California, Illinois, and Missouri. SurgePays aims to double its customer base to approximately 44,000 by February 2022, generating an expected $1.1 million monthly revenue. The EBB Program offers significant subsidies, further enhancing SurgePays' cash flow.

SurgePays, Inc. (Nasdaq: SURG) reported a third-quarter revenue of $14.54 million, up from $12.80 million YOY. The net loss improved to ($1.66 million) from ($2.50 million) the previous year. The company successfully uplisted to Nasdaq and completed a $19.8 million public offering. SurgePays aims to expand its services to the underbanked through its SurgePhone MVNO subsidiary and plans to hire a nationwide sales team. The LogicsIQ subsidiary achieved record revenue of nearly $7.5 million, further enhancing growth prospects.

SurgePays, Inc. (NASDAQ: SURG) reported $2.5 million in revenue for the past three months as it accelerates the rollout of the Emergency Broadband Benefit Program through its subsidiary, SurgePhone Wireless. Since mid-August, the company generated $115,211 in revenue across four states during a limited launch, followed by an additional $2.42 million from further expansion. SurgePays anticipates exceeding 15,000 customers by November, which could yield $750,000 in recurring revenue monthly. They plan to expand to ten more states and have ordered 20,000 additional tablets.

SurgePays, Inc. (NASDAQ: SURG, SURGW) has successfully closed its public offering of 4.6 million units at $4.30 each, generating gross proceeds of approximately $19.78 million. Each unit contains one share of common stock and one warrant with an exercise price of $4.73, expiring in three years. The offering followed a reverse stock split at a 1-for-50 ratio, effective November 2, 2021. Underwriters have a 45-day option to purchase an additional 690,000 shares or warrants to cover over-allotments. Trading commenced on November 2, 2021, under the symbols SURG and SURGW.