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Good call out
SURGE HOLDINGS LAUNCHES PROPRIETARY REWARDS APP SOFTWARE
Enables SurgePhone Wireless customers to earn free unlimited service
Increases SurgePays Reloadable Debit cardholders by requiring the card to receive cash rewards
Memphis, TN – November 14, 2019 – Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Marketplace Network for convenience stores, bodegas and community markets that provide products to the underbanked, today announced the launch of its proprietary SurgeRewards App. Through engagement with the SurgeRewards application, customers earn points that can be redeemed for wireless service, cash rewards, and more.
Customers earn rewards points from the ad impressions that appear while they unlock their phone and also by opening the SurgeRewards app to watch videos and ads, as well as by participating in short surveys. These reward points can be converted into statement credits for free cell phone service or cash. Customers are required to have a SurgePays Reloadable Debit card to receive their monthly cash disbursements.
Brian Cox, CEO of Surge Holdings, commented, “After significant investment and development into this software asset, we are very excited to launch our very own SurgeRewards app. Not only do we enable SurgePhone to offer free wireless service, but we can now partner with 3rd party wireless companies to offer revenue sharing rewards to their customers. We estimate this app will drive between 15,000 to 20,000 SurgePays Reloadable Debit card activations per month due to the card being a requirement for customers to get their monthly cash payments. Out of a single sale and customer relationship, Surge will realize revenue from the ad network rewards app, the wireless service and the debit card. This app allows us to cross-market sales efforts to obtain wireless customers and debit card holders.”
In addition to its free SurgePhone Wireless service, the app will be preloaded on True Wireless customers Android handsets as well as other 3rd party Lifeline companies’ handsets for additional revenue sharing opportunities through the ad network. All of these monthly cash disbursements will require these customers to obtain a SurgePays Reloadable Debit card as well.
Mr. Cox further stated, “We believe the SurgeRewards app will help build brand loyalty and further entrench customers within the Surge ecosystem so we can further monetize the relationships with our underbanked customers. This product fits perfectly with our mission to have a positive impact on the lives of our customers, and I take pride in knowing how many people will benefit from this......
Nice article!!! Surg longs!
LOL - I was laughing at your .10 gap statement not wondering what lol meant.
Lol ??
Nice
Good morning Surg Longs! The poop is thicker than normal so we must be set for a nice jump up...
Exactly
Picked up some more on this dip... it’s like buying gold and penny prices...
Thanks for the links to the good news!
Agreed
Right on right on
How’s the Funky Monkey feeling today?
Awesome News
Surge Holdings Announces Asset Purchase Resulting in
the Addition of 9,800 Retail Locations and an Expected $48.7 Million of
Annualized Revenue*
Asset Purchase Agreement with GBT Technologies to Acquire its ECS Prepaid Wireless Business and
Software Platform
Plan to Cross Market SurgePays™ Network Products, SurgePays™ Reloadable Debit Card, SurgePhone Wireless and SIM Starter Kits to the New
9,800 Retail Locations
Transaction expected to be immediately
accretive to earnings
Memphis, TN – October 3, 2019 – Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Network for independent retailers, today announced it has entered into an agreement with GBT Technologies Inc. (OTC PINK: GTCH) to acquire the assets of its ECS Prepaid Business, Electronic Check Services business and the Central State Legal Services business.
Brian Cox, Chairman and CEO of Surge Holdings, commented, “This acquisition marks another major milestone for the Company, as we expect these businesses to immediately add over $48.7 million in annualized revenue, bringing our expected annualized revenue run rate to over $60.0 million. This transaction also adds over 9,800 retail customer locations to which we can now cross market our SurgePays Network products, SurgePays™ Reloadable Debit Card, SurgePhone Wireless and SIM Starter Kits. I look forward to integrating our operations with the experienced team and infrastructure at ECS, which we expect to generate significant operating synergies, including elimination of redundant expenses, to enhance profitability of the combined entities. In the meantime, we continue gaining traction in the market and are moving ahead aggressively with the rollout of the SurgePays Network through AATAC, one of the largest private trade associations, representing over 110,000 retail locations. The transaction also enhances our shareholders’ equity, which brings us another step closer to our near-term goal of listing on a national exchange. We look forward to providing further updates on this integration as well as our rollout with AATAC and other organizations.”
Surge Holdings paid $5 million in consideration - 3,333,333 shares of Surge Holdings common stock and a $4 million note. Additional details regarding the transaction were included in yesterday’s Form 8-K filing with the Securities and Exchange Commission.
About Surge Holdings, Inc:
Surge Holdings, Inc. is a retail supply chain company that provides a virtual distribution hub for retailers, as well as offer telecom services for low income customers and financial payment services for the unbanked and under-banked. Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the recently launched SurgePays™ Network. (https://surgepays.com) This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products and to empower the corner store to select, order and fulfill delivery of wholesale goods from around the country. This platform also provides manufacturers a cost-effective and efficient platform to access local retailers. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
*Annualized revenue is assumed if the Company had completed the acquisition on January 1 of the current fiscal period. The $48.7M is based on the gross revenue of the acquired businesses for the fiscal year ended December 31, 2018. The Company has not completed an audit on the value and annualized revenue is not a basis in accordance with accounting principles generally accepted in the United States. Such amounts have not been audited by the Company.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes”, “expects”, “may”, “will”, “should”, “anticipates”, “plans”, or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: SURG@crescendo-ir.com
I bought some more yesterday! Thanks for the cheapies!
Morning SURG longs!
Love my Surg... go longs!
Agreed!
Good morning SURG longs!
Bizjournals article!
Open office: Public company 'surges' into Bartlett. Read the full Memphis Business Journal article here:
Open office: Public company 'surges' into Bartlett. Read the full Memphis Business Journal article here: https://t.co/XQq6Y4iVrW
— SurgePays (@SurgePays) September 11, 2019
Number one Brimhall is such a small piece that it doesn’t even matter. To say it does is to distract from what is happening and taking place. People are running out of “why should you not trust the ceo” conspiracies...
The conspiracy theories continue to fall one right after another...
I believe that’s exactly what was said about aatac, surgevisa, surgepays, pastime foods... as an investor I look for promises kept or broken... I don’t speculate on the latest conspiracy theory. CEO has kept all his promises and publicly laid out his course.
SURG IS A SOLID INVESTMENT
SURGE IS A SCREAMING GOOD DEAL RIGHT NOW...
NEXT UPDATE BY CEO COULD SHOOT SURGE UP LIKE CRAZY...
I’m with Surgeguy! Where’s the beef... I mean link. Proof is on the ones making the accusations.
That’s what was said about pastime foods now look at that beautiful partnership in all its glory. CEO doing all he said he would.
Nice! We have products, eco system, visa etc... poised for big profits!
Chart seems to be turning back to the upswing....
Good morning surg longs!!!
Good stuff happening and new stores everyday!
Just wondering stock and burp how much more are you looking to buy?
I pick up some more this week!
Loving my surg!!!
Big revs and pps coming imo!
HEY FUNKYMONKEY YOU ARE RIGHT.... CHECK OUT TODAYS NEWS!!!
I’m so happy I think I will share it as well!!!
Surge Holdings Announces Official Launch of the SurgePays™ Visa® Prepaid Card
SurgePays™ Visa® Prepaid Card utilizes state of the art fintech to address the financial needs of the more than 68 million unbanked and underbanked adults in the United States
Offers flexibility including allowing employers to directly load payroll to employee’s cards as well as the ability to “Photo Load” paychecks and other checks
Free Personalized card, no credit check, no activation fee and no monthly maintenance fee
Memphis, TN - August 22, 2019 – Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Network for independent retailers, today announced that its wholly owned subsidiary, SurgePays Fintech, Inc., has completed development and successfully launched the SurgePays™ Visa® Prepaid Card (the “Card”).
image
In addition to the benefits of increased safety, security, and convenience of using the Card anywhere that accepts Visa®, some of the integrated life enhancing benefits for SurgePays Cardholders, include ATM withdrawals, the ability to accept direct loading wages and earnings from employers, loading the card by taking a picture of the front and back of paychecks and other checks (“PHOTO LOAD”), accessing accounts from the Card app on their mobile device; as well as TRANSCARD usage, which allows users to send money to friends and relatives locally and internationally.
In 2012, the FDIC issued a report stating that approximately 68 million adults living in the United States were unbanked or underbanked. The Card is designed to provide these people, and the additional immigrant population, a convenient way to manage their money starting with simple online signup that features no credit check, no activation fee, a free personalized card and no monthly minimum balance or monthly maintenance fees. Customers can sign up for the card now at: www.surgepayscard.com.
The Company’s wholly owned subsidiary, SurgePays Fintech, Inc., is headed by Kenneth Reaves, Ph.D. Dr. Reaves has been a pioneer in the prepaid debit card industry while previously spearheading two of the most successful card launches and rollouts of the last 20 years.
Dr. Reaves, President of SurgePays Fintech, Inc., stated, “The SurgePays™ Visa® Prepaid Card is “THE ONLY CARD THAT YOU WILL NEED IN YOUR WALLET” to obtain and maintain control of your money. The Card delivers our cardholders life enhancing features and services. For the millions of individuals who wait in line to pay high fees to cash their checks, they now have an alternative to seamlessly load their checks onto their SurgePays™ Visa® Prepaid Card. Cardholders can add secondary cards to their account as a way to facilitate transfers to family members in the US and abroad. The fintech solutions delivered through the SurgePays™ Visa® Prepaid Card will provide significant tangible benefits to so many in their daily activities.”
Brian Cox, Chairman and CEO of Surge Holdings, commented, “We believe Dr. Reaves has done a fabulous job utilizing his wisdom and experience to navigate the over one-year planning, development and integration of the Card. His team’s ability to position Surge with a strategic card in a sector that has significant barriers to entry reinforces our overall goal of increasing shareholder value. I am excited about the additional life enhancing benefits currently being integrated as well as the national rollout.”
Anthony Nuzzo, President of Surge Holdings, Inc stated, “Our competitive advantage is our ability to offer this card with a discounted fee structure with the goal to create a larger and more loyal customer base looking to stretch their money further by taking advantage of our other Surge products and rewards programs. We believe the Card will become an important profit center and we look forward to introducing additional differentiated products through our network in order to drive value for our partners and shareholders.”
About Surge Holdings, Inc:
Surge Holdings, Inc. is a retail supply chain company that provides a virtual distribution hub for retailers, as well as offers telecom services for low income customers and financial payment services for the unbanked and under-banked. Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the SurgePays™ Network. This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products and to empower the corner store to select, order and fulfill delivery of wholesale goods from around the country. This platform also provides manufacturers a cost-effective and efficient platform to access local retailers. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: SURG@crescendo-ir.com
Yep Great News!!!
Just another great product that will increase the bottom line each and every month!
Thanks for sharing!
Agreed AnyaTanya. CEO is doing a great job in my opinion and that’s why I’ve been here almost 2 years. Nothing happens overnight and nothing happens always as planned. However, the potential here is enormous and I believe we are on the cusp of explosive gains.
Bought more this week!
Go SURG!
Thanks for posting the update from the CEO. Everything looks ready for some massive expansion!
Good morning LONGS!
I’m holding strong and even bought a little more on the dip.
Good morning SURG longs!
Yep! New stores coming on each and every day.
Long and strong SURG!
Surg Strong!
Surg Long!
I’m very happy with what Surge is doing and how they are moving forward day after day.
Store number increases daily!
Nice HANK! Thanks for providing real information.