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HERE IS HOW THE RECENT DEBT CONVERSION NEWS SHOULD READ!
So we all know by now COX is a cronic liar...he lies about everything from helping the underbanked with Surgvisa cards to the revenues tracker for fake sales.
SURG news, dear Shareholders, as you all know we have stated in our SEC filings multiple time that we dont generate enough revenues to even pay our basic bills so we must dilute. Since we have burned even financing source with defaulting and forcing lenders to sue us...we have little choice but the once again find someone willing to give us a bridge loan to avoid additional lawsuits...because of our credit rating of "f" and that SURG operates at a loss we really have no collateral so interest rates of 50% are our only chance to avoid bankruptcy...once the bridge loan is used to pay of other loan shark rate loans will must continue to accelerate massive dilution of over 2-5M shares per week to sustain my lavish lifestyle...thank you for all your money....
15% OID CONVERTIBLE PROMISSORY NOTE DUE MARCH 8, 2022
THIS 15% OID CONVERTIBLE PROMISSORY NOTE is one of a series of duly authorized and validly issued 15% OID Convertible Promissory Notes of SurgePays, Inc., a Nevada corporation (the “Company”), having its principal place of business at 3124 Brother Boulevard, Suite 410, Bartlett, TN 38133, designated as its 15% OID Convertible Promissory Notes due March 8, 2022 (this Note, the “Note” and, collectively with the other Notes of such series, the “Notes”).
On March 8, 2021 (the “Effective Date”), SurgePays, Inc. (the “Company”), entered into a Securities Purchase Agreement (the “SPA”) with Evergreen Capital Management LLC (the “Investor”), pursuant to which the Company sold to the Investor a 15% OID convertible promissory note with a principal amount of $2,300,000 (the “Note”) and a warrant (the “Warrant”) to purchase up to 13,437,500 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) for proceeds of $2,000,000.
The Note matures on March 8, 2022, bears interest at the rate of 5% per annum and is convertible at any time upon the option of the Investor into shares of Common Stock at a conversion price equal to $0.16 per share or, upon the occurrence and during the continuance of an Event of Default (as defined in the Note), if lower, at a conversion price equal to 75% of the lowest daily VWAP of the Common Stock during the 20 consecutive trading days immediately preceding the applicable conversion date. The Company has the right to prepay all or any portion of the outstanding balance of the Note in an amount equal to 115% or 120%, depending on whether such repayment is made before October 8, 2021 or after October 8, 2021, respectively, multiplied by the portion of the outstanding balance to be prepaid. The Company is required to prepay all or any portion of the outstanding balance of the Note upon the occurrence of a Qualified Financing (as defined in the Note). If at any time while the Note is outstanding, the Company completes any single Future Transaction (as defined in the Note), the Investor may, in its sole discretion, elect to apply all, or any portion, of the then outstanding principal amount of this Note and any accrued but unpaid interest, as purchase consideration for such Future Transaction.
The Warrant is exercisable at a purchase price of $0.16 per share at any time on or prior to March 8, 2026, and may be exercised on a cashless basis, beginning on the six-month anniversary of the Effective Date, if the shares of Common Stock underlying the Warrant are not then registered under the Securities Act of 1933, as amended (the “Securities Act”). The Investor will not have the right to exercise the Warrant if the Investor, together with its affiliates, would beneficially own in excess of 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to its conversion and under no circumstances may exercise the Warrant if the Investor, together with its affiliates, would beneficially own in excess of 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to its exercise.
The SPA contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company, other obligations of the parties thereto, and termination provisions.
In connection with this transaction, on March 9, 2021, the Company entered into a Confidential Engagement Agreement (the “Engagement Agreement”) with Maxim Group, LLC (the “Placement Agent”), pursuant to which we have agreed to pay the Placement Agent a cash fee equal to 8% of the gross proceeds received by the Company from the Investor in this transaction and reimbursement of up to $20,000 of the Placement Agent’s legal fees. The term of the Engagement Agreement is 18-months, and contains a right of first refusal, whereby the Company granted the Placement Agent the right of first refusal to act as sole managing underwriter and book runner or sole placement agent for any and all future public or private equity, equity-linked or debt (excluding commercial bank debt) offerings during the eighteen (18) month period following the Closing (as defined in the Engagement Agreement”).
The SPA, the Note and the Warrant are attached to this Current Report on Form 8-K and is incorporated herein by reference. The description of the SPA, the Note and the Warrant contained herein is a summary and is qualified in its entirety by reference to the form of the SPA, the Note and the Warrant.
PERHAPS SOMEONE CAN EXPLAIN HOW REPLACING OLD DEBT WITH NEW DEBT MAGICALLY MAKES SURG MORE ELIGIBLE TO UPLIST TO NAZ...BECAUSE LAST TIME COX PLAYED THIS GAME 2 YEARS AGO ABOUT NAZDAQ ALL WE SAW WAS MASSIVE DILUTION....KIND OF EXACTLY WHAT WE ARE SEEING AGAIN!
RETIRING DEBT?....DO PEOPLE WHO PAY THEIR MORTGAGE WITH THEIR CREDIT CARDS ALSO CALL THAT RETIRING DEBT? IT'S UNDERSTANDABLE THAT PEOPLE CONTINUE TO FALL FOR COX'S LIE'S....HE HAS BEEN ARRESTED FOR FRAUD IN THE PAST SO HARDLY NEW TERRITORY FOR HIM.
JUST THINK ABOUT THAT FOR A MINUTE...COX HAD TO USE COLLATERAL THAT REPRESENTED OVER 80% OF THE ENTIRE COMPANIES O/S TO BORROW $2.6 M DOLLARS....AND HE PROCEEDED...SCARY TO THINK THE CEO IS SO DESPERATE...
SurgePays has retired a total of $2,645,825 in debt since January 1, 2021, releasing 86,870,025 shares previously reserved for loans.
Delusional COX can never make a single comment without distorting the truth into some kind of pat on the back for fake achievement...clearly someone with deep mental issues.
LMFAO! releasing 86,870,025 shares previously reserved for loans..... so lets play a game. What do you think Cox will do with all those "released" shares LOL...lets keep in mind that cox needed them to secure any loans because his credit rating is an "F" for previous defaults....and we all know they need to sell shares to pay basic bills as per the SEC filings....so releasing 86,870,025 shares previously reserved for loans goes where?....LMFAO!
COX and the endless lies and deception.....only COX could ever have such little shame and disrespect for shareholders intelligence by paying off loan shark rate debt with even worse debt...and label it a good thing...and a road to nasdaq... taking a loan because another loan has come due is never retiring debt...its expanding debt...
What I find so comical...is that if the debt holders believed for one second that SURG could move to NAZ then why would they resell the shares owned back to SURG??? whooopsies!
COX IS A REAL SMARTY PANTS NASDAQ CEO SOON LMFAO....DUMP ALL YOUR SHARES FOR PENNIES BEFORE YOU MOVE TO NAZ....WHOOPS AND THEN TELL SUCKER SHAREHOLDERS YOU REALLY MEANT PINKSHEETS AND BANKRUPTCY
O/S NOW 147,917,608 FROM 142,417,977 IN JUST ONE WEEK!LMFAO!
WEEKLY DILUTION CONTINUES TO ACCELERATE!100% SCAM!!!!
https://www.otcmarkets.com/stock/SURG/security
Outstanding Shares
147,917,608
03/29/2021
Restricted
99,531,261
03/29/2021
Unrestricted
48,386,347
03/29/2021
Outstanding Shares
142,417,977
03/22/2021
Restricted
95,301,630
03/22/2021
Unrestricted
47,116,347
03/22/2021
Outstanding Shares
140,574,152
03/15/2021
Outstanding Shares
138,074,152
03/08/2021
Outstanding Shares 133,190,335
02/22/2021
Restricted 89,175,916
02/22/2021
Unrestricted 44,014,419
02/22/202
Outstanding Shares
132,419,335
02/17/2021
Outstanding Shares
127,566,582
02/01/2021
Outstanding Shares
122,507,519
01/04/2021
Outstanding Shares
118,937,711
11/12/2020
Outstanding Shares
114,215,911
10/01/2020
Outstanding Shares
113,327,080
09/01/2020
Outstanding Shares
111,197,866
08/03/2020
Outstanding Shares
104,922,150
05/31/2020
Outstanding shares
101,015,459
01/01/2020
Outstanding Shares
97,414,983
08/14/2019
5.5 MILLION MORE SHARES DILUTED LAST WEEK A NEW RECORD LMFAO!
But but the tracker says so....thus it must be true coming from COX himself! LMFAO!
LMAO..Yes SURG Bodega partners all pay same sales tax rate regardless of what state they are in....LOLOLOLXZXZXZLOL
FUNNY THE WEBSITE HAS NEVER SHARED A SINGLE LOCATION FOR ANYONE TO EVER VERIFY A SINGLE CLAIM THAT THE COMPANY HAS A REAL SALES....BECAUSE KEEPING LOCATIONS TOP SECRET IS WHAT SALES COMPANIES DO LMFAO....CLAIMING YOU HAVE SALES IS BETTER THAN GIVING LOCATIONS FOR REAL SALES.... LOLOLXZXZLOLZZZ
COX IS SO PROUD OF RIPPING PEOPLE OFF...
Cox laughs at his shareholders... what kind of CEO would tout something like the SURGPAYS VISA for 2 years.....Fake the launch....and then after a year remove it from the website and never even explain to his shareholders what happened...Investor Relations is also a joke because they never answer phone or return calls... So no investor will ever know why SURGPAYS failed.... That shows just what COX thinks of his shareholders...he owes them no explanations no answers....just a fake handshake!
Claimed growth was bought from another pink sheet scam GTCH....COX has failed every step of the way...Cox had nothing to show for 2 years of lie's.... COX only had one choice other than Bankruptcy ....so he teamed up with another scam and created fake revenues via a purchase of ECS....GTCH would never have sold ECS if it were real...but all it did way delay the inevitable end for COX and SCURG....the accelerating dilution confirms the company generates no revenues to even pay the bills.....employee's have all left..board directors suddenly resign the same day....will be fun watching COX get arrested for fraud AGAIN...
When is this POS scam gunna file 10K wtf?
Like ..Like..Like... I enjoy explaining what ACCELERATING DILUTION looks like since SCRUG SCAM is the perfect example for anyone to understand.
Like like like from jan 2020 shares increased from like like
101,015,459
01/01/2020 to
122,507,519
01/04/2021
Like like like 20M in 52 weeks all of 2020
In 2021 shares have like increased from like
122,507,519
01/04/2021 to
142,417,977 so like like like another 20M in just 11 weeks...
03/22/2021
THATS CALLED RAPID ACCELERATING DILUTION LIKE THE POST SAYS!
Surge Files Application for Uplisting to the NASDAQ Capital Market
WHOOPSIES!!! THAT WAS OVER 2 YEARS AGO AND CEO NEVR GAVE A SINGLE FOLLOW UP PR OTHER THAN MORE LIES...LOLOLXAZXZXZLXOLLOLZZZZ.
https://ir.surgepays.com/news-events/press-releases/detail/34/surge-holdings-inc-files-application-for-uplisting-to-the
Why would a co headed for NAZ be diluting millions of shares every week?
WEEKLY DILUTION CONTINUES TO ACCELERATE!100% SCAM!!!!
https://www.otcmarkets.com/stock/SURG/security
Outstanding Shares
142,417,977
03/22/2021
Restricted
95,301,630
03/22/2021
Unrestricted
47,116,347
03/22/2021
Outstanding Shares
140,574,152
03/15/2021
Outstanding Shares
138,074,152
03/08/2021
Outstanding Shares 133,190,335
02/22/2021
Restricted 89,175,916
02/22/2021
Unrestricted 44,014,419
02/22/202
Outstanding Shares
132,419,335
02/17/2021
Outstanding Shares
127,566,582
02/01/2021
Outstanding Shares
122,507,519
01/04/2021
Outstanding Shares
118,937,711
11/12/2020
Outstanding Shares
114,215,911
10/01/2020
Outstanding Shares
113,327,080
09/01/2020
Outstanding Shares
111,197,866
08/03/2020
Outstanding Shares
104,922,150
05/31/2020
Outstanding shares
101,015,459
01/01/2020
Outstanding Shares
97,414,983
08/14/2019
Why would a profitable company be diluting its shareholders on a weekly basis? Shares must have no value
WEEKLY DILUTION CONTINUES TO ACCELERATE!100% SCAM!!!!
https://www.otcmarkets.com/stock/SURG/security
Outstanding Shares
142,417,977
03/22/2021
Restricted
95,301,630
03/22/2021
Unrestricted
47,116,347
03/22/2021
Outstanding Shares
140,574,152
03/15/2021
Outstanding Shares
138,074,152
03/08/2021
Outstanding Shares 133,190,335
02/22/2021
Restricted 89,175,916
02/22/2021
Unrestricted 44,014,419
02/22/202
Outstanding Shares
132,419,335
02/17/2021
Outstanding Shares
127,566,582
02/01/2021
Outstanding Shares
122,507,519
01/04/2021
Outstanding Shares
118,937,711
11/12/2020
Outstanding Shares
114,215,911
10/01/2020
Outstanding Shares
113,327,080
09/01/2020
Outstanding Shares
111,197,866
08/03/2020
Outstanding Shares
104,922,150
05/31/2020
Outstanding shares
101,015,459
01/01/2020
Outstanding Shares
97,414,983
08/14/2019
CEO BRIAN COX PAST INDICTMENT FOR WIRE FRAUD LINK
https://www.newson6.com/story/5e3632a32f69d76f62051959/oklahoma-cell-phone-company-owner-arrested-on-fraud-charges
They're accused of funding their lavish lifestyles with your hard-earned money funneled through a government program.
The Department of Justice charged three men in an alleged scheme to defraud the government-subsidized cell phone program called Lifeline of millions of dollars.
One of the men indicted, "owns a cell phone company," operating in Oklahoma.
It's not unusual for the owner of a cell phone company that takes government subsidies to have many different companies in different states, and that's the case here.
11/4/2013 Related Story: FCC Proposes $33M In Fines Against Cell Phone Companies Providing Lifeline
Prosecutors say all three men charged in the federal case created a cell phone company and turned in false reports to the government which gave them $32 million in subsidies.
The men are accused of 15 counts of wire fraud, false claims and money laundering.
The feds say the men used the program, designed to provide cell phones to the poor, to make themselves millionaires, buying a Lamborghini, a Mercedes, a Cadillac Escalade, an Audi R-8, a corvette, a limo, a private jet and a boat, among other things, all of which the government now wants to repossess.
One of the men indicted is Kevin Brian Cox, the owner of True Wireless which we've reported on here in Oklahoma for allegedly breaking the Lifeline rules.
While its owner, Cox, is named in the federal indictment, his alleged crimes are connected to a different company.
True Wireless, his Oklahoma company, is not part of this case and prosecutors haven't answered my questions as to whether it could eventually be included.
SAME LIES FROM 2 YEARS AGO.WHEN WILL PEOPLE LEARN!
https://ir.surgepays.com/news-events/press-releases/detail/34/surge-holdings-inc-files-application-for-uplisting-to-the
UNITED STATES OF AMERICA v. KEVIN BRIAN COX a/k/a Brian Cox, and LEONARD I. SOLT.
Kevin Brian Cox objects (Doc. 316) under Rule 59(a) to the magistrate judge's order (Doc. 290) denying a motion to compel (Doc. 254) the United States' compliance with an earlier order (Doc. 238) for a bill of particulars. A review of the objection, the response, and the pertinent predecessor papers reveals no demonstration by Cox that the magistrate judge's order is either contrary to law or clearly erroneous (or erroneous at all).
The objection (Doc. 316) is OVERRULED.
In part III of a document (Doc. 259) that responds in a single paper to several distinct motions (this awkward practice confuses attempts to track motions on the court's electronic docket), the United States requests an order that precludes Biddix from asserting at trial a defense based on the advice of counsel. To support this novel request, the United States states, "Before indictment, Biddix foreclosed the grand jury from investigating relevant communication by and between him and counsel." (Doc. 259 at 14) For the reasons stated in part I of Biddix's response (Doc. 303 at pp. 3-8), the motion is DENIED.
Cox moves (Doc. 275) "to preclude the government from offering any evidence under Rule 404(b) at trial." Cox asserts that the United States failed to provide "timely and sufficient notice" of the intent to offer evidence under Rule 404(b). The parties agreed (Doc. 108) that Rule 404(b) disclosures must occur before March 13, 2015. The United States' disclosure letter identifies "fraudulent misrepresentation made in connection with the Lifeline Program prior to January 2009" by five, named business entities. Cox asserts that the "bare-bones, excessively broad letter" fails to contain the reasonable notice required by Rule 404(b)(2)(A).
Paragraph five of the Advisory Committee Notes to the 1991 Amendments to Rule 404(b) states, "The court in its discretion may, under the facts, decide that the particular . . . notice was not reasonable, either because of the lack of timeliness or completeness." Obviously, "reasonable notice" contemplates a useful, even if still generalized, description of the prospective Rule 404(b) evidence. The United States' disclosure merely identifies the business entity within which a "fraudulent misrepresentation [was] made in connection with the Lifetime Program prior to January 2009." A statement that, more than this statement, says something rather than nothing while fully retaining the statement's maximum unhelpfulness is hard to imagine. If the aim of this statement's drafter was to provide to the defense the minimum permissible disclosure and nothing more, the drafter undershot the mark. This studiedly obscure disclosure apprises neither the defense nor the court of anything that meaningfully directs the reader's attention to some manageable and practical field of inquiry.
Cox's motion (Doc. 275) is GRANTED to the extent that admission of the contested evidence under Rule 404(b) is DENIED.
Associated Telecommunications Management Services, LLC moves (Doc. 250) to intervene in the criminal prosecution of Thomas E. Biddix (ATMS's owner), moves for a protective order, and moves for an evidentiary hearing "regarding the government's violations of the attorney-client privilege." Biddix joins in the motion for a protective order and the motion for a hearing.
The magistrate judge conducted a hearing (Doc. 314) and examined the claimed privileged material in camera. The magistrate judge's October 7, 2015, report (Doc. 361), to which there is no response, (1) finds that "the corporation has neither the standing to intervene nor the grounds to assert the privilege," (2) finds that Biddix "has no authority in any personal capacity to assert ATMS's attorney-client privilege for his own benefit," (3) finds that because "ATMS has no standing to assert the privilege and that none of the statements at issue is covered by the privilege, no conflict of interest exists, and a rule 44(c) hearing is not required"; and (4) recommends denial of the motion.
In consideration of the motion (Doc. 250) and the responses (Doc. 258, 329), the report and recommendation (Doc. 361) is ADOPTED. The motion (Doc. 250) to intervene, for a protective order, and for a hearing is DENIED.
Cox moves (Doc. 276) under Rule 403 to preclude the United States from offering "evidence or argument characterizing Defendants as `undisclosed owners' (and similar terminology)" of ATMS. By "similar terminology" Cox means "shadow owners," "secret owners," or another term designed to convey an unspecified but unmistakable air of suspect motive or other general disapprobation. The United States responds (Doc. 308) that the term "undisclosed owner" is an entirely neutral encapsulation of the fact that Cox owned only an option to purchase certain ATMS shares.
The United States over-simplifies. The term "undisclosed owner" conveys at least the notion of "ownership," which is not the equivalent of holding an option. Saying that someone who owns only an option to purchase is either a purchaser or an owner of the item subject to the option is a deception. Similarly, the United States' saying in a jury trial that something is "undisclosed" (or "shadow" or "secret") suggests strongly the existence of a duty to disclose. Therefore, unless the United States can establish an ownership interest in the pertinent shares and some legally cognizable duty to disclose, the term "undisclosed owner" or an equivalent is confusing and misleading and unnecessarily elongates the proceedings (and is probably argumentative, depending on the circumstance). The motion (Doc. 276) is GRANTED absent the establishment of a proper predicate.
Cox moves (Doc. 277) to "exclude evidence or argument at trial of uncharged conduct relating to taxes." Again, Cox notes that the evidence is inadmissible if offered under Rule 404(b) because the parties' stipulation required disclosure in March, 2015, and no Rule 404(b) notice of the income tax evidence has appeared. Also, Cox argues (Doc. 277 at 3) that:
There was nothing secret about how much money ATMS was receiving from USAC. How ATMS or its subsidiaries accounted for Lifeline reimbursements on their tax returns, or how the Defendants accounted for whatever funds they received from these entities on their own personal tax returns, are issues wholly disconnected from Defendants' role in the submission of Forms 497 on behalf of ATMS and its subsidiaries.
Noting that the indictment alleges that as a part of the criminal conspiracy the defendants concealed the proceeds from the Internal Revenue Service and that Count Seven charges money laundering, which is a scheme to disguise criminal proceeds, the United States argues that the tax-related evidence is intrinsic to the criminal scheme and admissible.
Given the allegations of the indictment, the challenged evidence is probative of whether a defendant concealed from the IRS and laundered the proceeds of the allegedly criminal scheme. Cox's motion (Doc. 277) is DENIED.
Cox moves (Doc. 278) "to exclude at trial evidence relating to Defendants' purported wealth, lifestyles, and spending habits." Cox argues that the prosecution's allusion to these topics during trial presents a toxic appeal to "class prejudice" and presents a "severe risk of unfair prejudice" from an inflamed jury.
The United States responds (Doc. 310) that "spending and wealth evidence" is admissible because the evidence "supports the wire fraud conspiracy and substantive wire fraud counts charged in Counts One through Six, and it is critical to proving the money laundering conspiracy charged in Count Seven." The United States cites United States v. Hope, 608 Fed.Appx. 831 (11th Cir. 2015), in which "wealth evidence" assisted the prosecutor in rebutting the defense that the defendant "did not knowingly commit fraud, but rather [the money received was] the result of billing errors." 608 Fed.Appx. at 839. Also, Hope finds that wealth evidence "goes to Hope's motive to commit the offenses." The defendant in Hope argued that motive was not an element of the offense that the prosecution must prove, but Hope dismisses that argument based on United States v. Williford, 764 F.2d 1493, 1499 (11th Cir. 1985), which states:
Evidence, not part of the crime charged but pertaining to the chain of events explaining the context, motive and set-up of the crime, is properly admitted if linked in time and circumstances with the charged crime, or forms an integral and natural part of an account of the crime, or is necessary to complete the story of the crime for the jury.
A long line of cases in the Eleventh Circuit and elsewhere reliably recites the fact that "it is often difficult to determine whether wealth evidence is intended to appeal to class bias or to establish a fact in issue." 608 Fed.Appx. 838. To assist in that determination, Hope cites United States v. Jackson-Randolph, 282 F.3d 369 (6th Cir. 2002), which includes an instructive selection of illustrative precedents and which includes the following list of "good markers" that inform a ruling under Rule 403 in an instance of proffered wealth evidence:
[T]he unfair prejudice does not outweigh the probative value if three factors are met: (1) there is other credible evidence, direct or circumstantial, of the illegal activity; (2) the money spent was not available to the defendant from a legitimate source; and (3) the accumulation of great wealth or extravagant spending relates to the period of the alleged illegal activity.
282 F.3d at 378. Although not an exhaustive list, the Jackson-Randolph factors undoubtedly provide a sound foundation for decision.
A review of the facts of Jackson-Randolph suggests another factor that will warrant consideration in the usual application. Johnson-Randolph recites the disputed wealth evidence as follows:
The district court overruled the objections and permitted the government to introduce evidence of Jackson-Randolph's purchases of expensive jewelry, clothing, and several fur coats. The government also presented evidence of Jackson-Randolph's trips to Aruba, the Bahamas, Las Vegas, and Atlantic City for gambling, where Jackson-Randolph arranged large lines of credit prior to arrival. Witnesses also testified to Jackson-Randolph's propensity to give away expensive gifts such as jewelry, clothing, and trips. A government agent estimated her expenditures during the indictment period at $3,896,939. This evidence, Jackson-Randolph asserts, was merely inflammatory, prejudicial, and irrelevant to any issue in the case.
282 F.3d at 376.
Assuming that the evidence establishes the absence of a "legitimate source" for her money, Johnson-Randolph's spending in the pertinent time $3,896,939 on luxury items is evidence much more clearly probative of a pertinent fact than is evidence of her particular travel destinations (Atlantic City, for example), the exact activity (gambling, for example) she chose after arrival, the exact gifts (jewelry, for example) that she gave, and the like. Even if the fact of, and the amount of, extraordinary expenditures might fairly evidence the need for, or disposition of, feloniously acquired wealth, the wealth is needed no more to travel to Aruba or Las Vegas than to travel elsewhere. In other words, the "gory details" of the extraordinary expenditures are typically less probative and more prejudicial than the amount spent or the categories of expenditure (travel, automobiles, clothing and accessories, etc.). In all events, the United States should present evidence in a dignified and straight-forward manner and without undue attention to a sensational or provocative particular that is more likely to trigger an eruption of "class bias" or other prejudice — in whatever form and by whatever label.
SCURG DECODER. "RETIRE DEBT" = AVOID LAWSUIT AND TAKE ON EVEN MORE DEBT TO PAY-OFF LAST YEARS DEBT...GOOD THING COX HAS THE A/S UP TO 500,000,000 SHARES! LOLOLLLLOLLOXZXZZLOZZZ
SCRUG...3 YEARS OF LIES AND DISTORTIONS!
WEEKLY DILUTION CONTINUES TO ACCELERATE!100% SCAM!!!!
https://www.otcmarkets.com/stock/SURG/security
Outstanding Shares
142,417,977
03/22/2021
Restricted
95,301,630
03/22/2021
Unrestricted
47,116,347
03/22/2021
Outstanding Shares
140,574,152
03/15/2021
Outstanding Shares
138,074,152
03/08/2021
Outstanding Shares 133,190,335
02/22/2021
Restricted 89,175,916
02/22/2021
Unrestricted 44,014,419
02/22/202
Outstanding Shares
132,419,335
02/17/2021
Outstanding Shares
127,566,582
02/01/2021
Outstanding Shares
122,507,519
01/04/2021
Outstanding Shares
118,937,711
11/12/2020
Outstanding Shares
114,215,911
10/01/2020
Outstanding Shares
113,327,080
09/01/2020
Outstanding Shares
111,197,866
08/03/2020
Outstanding Shares
104,922,150
05/31/2020
Outstanding shares
101,015,459
01/01/2020
Outstanding Shares
97,414,983
08/14/2019
3/22 DILUTION UPDATE ANOTHER 2M LAST WEEK NOW 142,417,977
Outstanding Shares
142,417,977
03/22/2021
Restricted
95,301,630
03/22/2021
Unrestricted
47,116,347
03/22/2021
COX ALSO SCREWED HIMSELF FOR A SECOND PPP LOAN...I KNOW A FEW PEOPLE WHO'S LOAN WERE FORGIVEN AND GOT A SECOND LOAN....BUT ONLY BECAUSE THEIR RECEIPTS WERE DOWN OVER 25% FOR 2019 2020....COX CHOSE TO BS ABOUT GROWTH AND WILL HAVE TO PAYBACK THE PREVIOUS PPP LOAN AND CANT GET A SECOND ONE....WHAT A CHUMP!
https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/second-draw-ppp-loan
Who may qualify
A borrower is generally eligible for a Second Draw PPP loan if the borrower:
Previously received a First Draw PPP loan and will or has used the full amount only for authorized uses
Has no more than 300 employees; and
Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020
ALL OF COX'S RECKLESS LOAN SHARK LOANS HAVE COME DUE...SCURGE CREDIT RATING IS AN "F" AND NOW HAVE MAXIM ACTING LIKE A DEBT COLLECTION/CONSOLIDATOR. COX HAS BURNED EVERY FINANCING OPTION....AND WITH MORE LOOMING LAWSUITS HE HAD NO CHOICE....DILUTION IS FAR WORSE THAN ANYONE EXPECTED...
I wonder what the folks at Maxim think when they see the funds they lent SCURG at toxic rates to pay of other toxic financing... and then SCURG spins it as a good thing and a step to a nasdaq listing... they all must be like... "Holy shit this guy COX is a real lying scumbag..."
EXACTLY....SCURG so deep in debt can only finance using comapny shares with an effective interest rate over 100%....Thats what happens when you burn all your past lenders and they have to sue you for repayment....
COMMON SENSE....NO COMPANY WOULD EVER ISSUE OVER 13,000,000 WARRANTS @ .16 WITH AND EXPIRY OF 3/26 IF THEY HAD ANY CHANCE OF GOING TO NASDAQ PERIOD!
NASDAQ LISTING AND COMMON SENSE!
COX LOVES OTCBB TRADERS...HE WOULD NEVER LEAVE SUCH EASY AND NAIVE TARGETS TO KEEP SELLING SHARES TOO...
COMMON SENSE....NO COMPANY WOULD EVER ISSUE OVER 13,000,000 WARRANTS @ .16 WITH AND EXPIRY OF 3/26 IF THEY HAD ANY CHANCE OF GOING TO NASDAQ PERIOD!
This new TOXIC financing is even worse then the toxic financing it's paying off.....the warrants are comical....a thank you gift just for lending SCURG some $$$ to get thru to the next Q
The 13,437,500 Warrants are exercisable at a purchase price of $0.16 per share at any time on or prior to March 8, 2026, and may be exercised on a cashless basis, beginning on the six-month anniversary of the Effective Date, March 8, 2021
DUMP DUMP DUMP DUMP!
Poor COX trying to avoid more lawsuits...bridge loans to pay off other horrible loan shark loans....rinse repeat....every year same old thing....