Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thurs last chance for ACP vote link... https://broadbandbreakfast.com/discharge-petition-on-fate-of-7-billion-acp-now-active/
Coxy gunna have to find another GOV program to scam...whoopsie!
!Whoopsies! headed lower every day!
Never buy a stock that the Institutional holding are only 7%...they know the scams!
https://finviz.com/quote.ashx?t=SURG&ty=c&ta=1&p=d
$3.75... just another $3 down to go! whoopsies!
Headed back to OTCBB...cook the books!
I may start to cover shares around .75 cents... maybe
Here come the $3's... shareholders now very underbanked! whoopsies!
Last $4.16 Still short from $9.20 !!! I love Coxy Woxy!
SO glad I shorted this @ $9.20...easy money when you understand this scam!
Insiders and employees all dumping and shorting!
Coxy and his cronies all shorting SURG is a sign the end is near!
ACP shut down because scammers and lowlifes made a living off the underbanked!
Smells like another scam!
Is it time to grab some EFTR?
LMFAO Offering $5.60 per share...once again COXY rapes shareholders... !!!!!
Coxy always diluting to pay himself off!
SurgePays Announces Proposed Public Offering; Terms Not Disclosed
SurgePays Acquires ClearLine Mobile Nice scam news today...another nothing company likely created just to be bought up to siphon off more shareholders $$ to Cox Cronies... oh of course no details of the price etc are released.
scam!
Jail food must be good this time of year! Go COXY!
DUMP DUMP DUMP!
I ordered a clown mask for Halloween and they sent me a picture of COX!
Saw the chart figured I would stop by. Great info and conversation here...not sure how a companies value could collapse with no major news. Market fear has thrown baby out with bathwater on many names. When fear takes control, revenues, IP and cash don't matter. Is RVNC a possible buyout target now?
Lurking........
What a scam!
Looks like they are ready for prime time with $35M public offering. https://capedge.com/filing/1881767/0001493152-23-033495/SSCC-1AA/file/2
Can't believe this scam is still going....
On watch after 50%+ haircut since May... still can't find an explanation for such a drop.
NEWS! PROSPECTUS SURGEPAYS, INC. $100,000,000 Common Stock
https://capedge.com/filing/1392694/0001493152-23-031892/SURG-S3A
Common Stock
$100,000,000
Common Stock
Stopping in to say LOL!
Halt coming imo!
If required to abide by these rules, SurgePay's business model implodes. Unable to provide commissions, SurgePays network value proposition is invalidated and SurgePays would be required to hire enrollment agents on a non-commission basis in order to grow subscriber count. The addition of payroll overhead would almost certainly decimate any hopes of profitability.
In fact, we have a first hand account of potential FCC violations from Mississippi Public Service Commissioner, Brandon Presley. In January of 2022, Commissioner Presley sent a letter to the FCC Inspector General asking for a Cease and Desist against SurgePays for blatant violations of FCC guidelines that govern the ACP.27 Commissioner Presley’s letter to the FCC Inspector General outlining what he saw is below:
We believe that SurgePays rapid ACP revenue growth was fueled by potential violations of FCC regulations around agent registration and compensation. If found in violation of these rules, SurgePays could be fined over $100M.
Date: February 16th, 2023
Headline: SurgePays Announces Distribution Agreement with Capital Candy Co.16
Store Count from Filings: 8,000 (-1,800)
Theoretical Store Count: 52,800+
In this release, President of SurgePays FinTech, Jeremy Gies, said, “This agreement is a great opportunity for SurgePays to expand our footprint into an area of the country with few stores transacting on the SurgePays network. With our capability to enroll new ACP customers at the store counter, we are especially looking forward to the revenue potential both companies can benefit from this collaboration.”
Our team spoke with a representative of Capital Candy about the partnership. They stated that while their customers can use SurgePays suite of offerings on their own, Capital Candy Co. primarily works with SurgePays prepaid gift cards business, not SurgePays FinTech or SurgePhone Wireless.
Overall, from early 2019 to the present, SurgePays CEO has highlighted partnerships as the next wave of expansion to 50,000+ stores. In reality, these partnerships appear have nothing to do with the SurgePays FinTech Platform, and the SurgePays network store count has declined. As recently as the Q1 2023 earnings call, Mr. Cox stated, “We are utilizing this great ACP program as the enticing catalyst to build what is now over 25,000 stores to be on-boarded with a staging target of less than 12 months.” We believe that Mr. Cox continues to mislead investors about the growth of the SurgePays network and history shows that SurgePays will fail to achieve their goal of 25,000 new stores on the network.
In the legal proceedings, AATAC claimed that SurgePay’s phones were defective and ultimately recalled. Because SurgePays delivered “unmerchantable” products, SurgePays was forced to remove all phones from AATAC stores, and the test ended.
The Public Service commissioner stated he was extremely “concerned about the waste, fraud and abuse of federal dollars aimed at helping bridge the digital divide that is possible with this business practice which is solely driven by apparent exploitation of unassuming citizens. I am also extremely worried about consumers being snookered by Surge.”
In 2022, the Mississippi Public Service Commissioner wrote a letter to the FCC Inspector General asking for a cease and desist against SurgePays.
The filing shows the contract between AATAC and SurgePays did not involve SurgePays FinTech Platform and involved 6 prepaid Surge Phones per store for an initial 1,525 stores. SurgePays ultimately recalled these phones because they did not work.