SurgePays Inc (SURG)

[StockItOut]

But... SurgePays only began AATAC store installation July 18, 2019.
That's just 2.5 months of the three-month Third Quarter. Not even close to 9 months of 2019.
And then, Cox gave no update on these just 750 beta installation in the Tampa, FL area. On conference call Cox said around Holiday season (nearer end of 2019) he personally had to go to a store or some stores to help train installation.

There essentially were no stores installed with SurgePays, so there were no sales selling product through the SurgePaysPortal to generate $4.35M in SurgePays revenue. Kapeesh?


Here's how it started: Big Lie! And this is where Cox tricked me and others, because the fu*ker Surge Holdings CEO lied to the Market!

Surge Provides Update on Rollout of SurgePays Network and Announces 15% Increase in Revenue to $3.9 Million for the First Quarter of 2019
May 16, 2019 8:00am EDT
Announces initial placement order for SurgePhones and SIM Starter Kits valued at over $17.5 million
** "Under our initial agreement with AATAC, the participating retailers will purchase a minimum of 6 Surge Android smartphones and 10 SurgePhone SIM Starter Kits per store. We estimate the minimum guaranteed value of the initial purchase order alone to be well in excess of $17.5 million."
https://ir.surgeholdings.com/news-events/press-releases/detail/37/surge-provides-update-on-rollout-of-surgepays-network-and

Bullshit Mr. Cox.
SEC interested.


Surge Holdings Announces Launch of SurgePays™ Network Installations with AATAC
July 18, 2019 9:00am EDT
Initial Deployment Underway to Over 700 Independent Retail Stores in Florida
** "SurgePays™ is expected to go live in over 700 AATAC-affiliated stores in the Tampa region over the next 30 days."
https://ir.surgeholdings.com/news-events/press-releases/detail/41/surge-holdings-announces-launch-of-surgepays-network


Surge Holdings Reports Progress on Phase 1 Rollout of SurgePays™ Network and Expansion of Facilities for Accelerated Growth; Provides Update for the Second Quarter of 2019
August 15, 2019 12:49pm EDT
** "The first 750 stores being installed in Tampa provide us the real data to refine the installation process and create efficiencies to ramp to over 3,000 stores a month."
And
** "Announces $2.8 million of purchase orders related to SurgePays™ Network."... for "Initial product placement orders for 250,000 SurgePhones and 500,000 SIM Starter Kits. for planned deployment into 40,000 stores"
** "Our phase one with AATAC has already resulted in approximately $2.8 million in purchase orders and we look forward to quickly scaling into phase two and additional target markets."
https://ir.surgeholdings.com/news-events/press-releases/detail/42/surge-holdings-reports-progress-on-phase-1-rollout-of

So, Surge is paying $2.8 million to buy phones and SIM cards, and lying about it via a PR news story like Surge sold $2.8 million in revenue.

So uckerfay CEO Cox has counted $2.8M in Surge Holdings spending as $2.8M incoming SurgePays revenue for Q3. All Cox did is redefine "revenue" going through SurgePaysPortal, and this "Disaggregation"

Cox is counting Surge purchasing through SurgePaysPortal, as SurgePaysPortal revenue.


Cox is probably also counting additional Surge purchasing as SurgePays revenue too, like the $535,000 in "shipped" products" from the Weekend Wellness deal. Man, that CBD must be getting old still in boxes in the Surge warehouse.

Surge Holdings Signs Agreement with Weekend Warrior Wellness to Distribute Hemp Energy Shots, CBD Mints and CBD Mint Strips on the SurgePays™ Network
** "The impact of the agreement is already being realized, with Weekend Warrior Wellness products already shipped that are expected to generate revenue of approximately $275,000, and further products shipping next week that are expected to generate an additional $260,000 in revenue."
https://ir.surgeholdings.com/news-events/press-releases/detail/38/surge-holdings-signs-agreement-with-weekend-warrior

And Surge did not even sign a deal with AATAC until after two months of 2019 were pasted.
Surge Holdings Partners With AATAC To Place SurgePays Blockchain Portal Into 40,000 Retail Locations
February 28, 2019 8:00am EST
https://ir.surgeholdings.com/news-events/press-releases/detail/41/surge-holdings-announces-launch-of-surgepays-network

See how Cox tricks anyone reading the 10-Q for Q3 2019?

So the uckerfay Cox is counting the big orders which shipped, which was in fact Surge Holdings buying product, not product selling.


On that Q3 10-Q,
You missed the most important preface to all the revenue numbers you post, which shows Cox is shuffling money, moving revenue goal posts to make it seem as if SurgePays has revenue it in fact does not.

"Disaggregation of Revenue from Contracts with Customers. The following table disaggregates gross revenue by entity for the nine months ended September 30, 2019 and 2018:"