Saturday, October 09, 2021 6:56:07 AM
REMEMBER FALSE SEC FILINGS HAVE LEGAL PENALTIES, BUT THE LAST 3 YEARS OF BULLSHIT PR'S DO NOT DUE TO SAFE HARBOR STATEMENTS...
https://ih.advfn.com/stock-market/USOTC/surgepays-qb-SURG/stock-news/86251129/securities-registration-statement-s-1-a#FORMS-1A_HTM_A_002
1. We have experienced net losses in each period since inception. As of June 30, 2021, we had an stockholders’ deficit of $9,331,099. We have funded our operations since inception primarily through equity financings, bank credit facilities, and capital lease arrangements. We do not know when or if our operations will generate sufficient cash to fund our ongoing operations
2. Our business has generated net loses, and we intend to continue to invest substantially in our business. Thus, we may not be able to achieve or maintain profitability. We may not be able to secure financing on favorable terms, or at all, to meet our future capital needs.
3. we expect, if we raise at least $15,000,000 in gross proceeds in this offering, that the net proceeds, along with our current cash position, will be able to fund our operating expenses and capital expenditure for at least the next two years. Thereafter, unless we achieve profitability, we anticipate that we will need to raise additional capital to fund our operations and to otherwise implement our overall business strategy
4. We are currently subject to a number of litigations as described under the heading “Legal Proceedings.” In connection with certain of these litigations, we may be required to pay significant monetary damages. Defending against the current litigations is or can be time-consuming, expensive and cause diversion of our management’s attention.
5. In addition, in the case of the litigation involving Glen Eagles, they are seeking the appointment of a receiver to control the operations of the Company. While we believe their claims are without merit and the likelihood of such a result is remote and we are vigorously defending against these claims, if a receive is appointed, the Board will no longer control the operations of the Company which may lead to serious complications for the Company. Therefore, our business operations could be negatively impacted by unfavorable results of this and other pending legal proceedings.
6. In addition, we may from time to time be involved in future litigation in which substantial monetary damages are sought. Litigation claims may relate to intellectual property, contracts, employment, securities and other matters arising out of the conduct of our current and past business activities. Any claims, whether with or without merit, could be time consuming, expensive to defend and could divert management’s attention and resources. We may maintain insurance against some, but not all, of these potential claims, and the levels of insurance we do maintain may not be adequate to fully cover any and all losses.
7. With respect to any litigation, our insurance may not reimburse us, or may not be sufficient to reimburse us, for the expenses or losses we may suffer in contesting and concluding such lawsuit. The results of any future litigation or claims are inherently unpredictable and substantial litigation costs, including the substantial self-insured retention that we are required to satisfy before any insurance applies to a claim, unreimbursed legal fees or an adverse result in any litigation may have a material adverse effect on our results of operations, cash from operating activities or financial condition.
Recent SURG News
- SurgePays, Inc. Announces Launch of Prepaid Wireless Brand LinkUp Mobile • GlobeNewswire Inc. • 06/06/2024 12:30:00 PM
- SurgePays Announces First Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/13/2024 08:15:00 PM
- SurgePays Announces First Quarter 2024 Earnings Release and Conference Call • GlobeNewswire Inc. • 05/06/2024 08:01:00 PM
- SurgePays to Participate in Water Tower Fireside Chat Series • GlobeNewswire Inc. • 04/18/2024 08:55:37 PM
- SurgePays Announces Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 03/12/2024 08:01:00 PM
- SurgePays Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call • GlobeNewswire Inc. • 03/05/2024 09:01:00 PM
- Congressman David Kustoff Visits SurgePays Headquarters in Bartlett, Tenn. • GlobeNewswire Inc. • 02/27/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 10:00:33 PM
- SurgePays Taps Derron Winfrey as Vice President • GlobeNewswire Inc. • 02/16/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/12/2024 10:25:22 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/05/2024 09:34:15 PM
- SurgePays Announces Strategic Partnership with SIN PIN • GlobeNewswire Inc. • 01/23/2024 01:30:00 PM
- SurgePays Announces Closing of $15 Million Public Offering • GlobeNewswire Inc. • 01/22/2024 11:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/22/2024 02:00:13 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 01/19/2024 09:30:29 PM
- SurgePays Announces Pricing of $15 Million Public Offering • GlobeNewswire Inc. • 01/18/2024 01:01:00 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 01/17/2024 09:05:50 PM
- SurgePays Announces Proposed Public Offering • GlobeNewswire Inc. • 01/17/2024 09:05:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 01/17/2024 02:00:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/12/2024 09:30:25 PM
- Jeremy Gies Appointed to President of SurgePays, Inc. • GlobeNewswire Inc. • 01/12/2024 09:01:00 PM
- Garth Billstin Named Vice President of Sales for SurgePays • GlobeNewswire Inc. • 01/10/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/09/2024 01:00:34 PM
- SurgePays Acquires ClearLine Mobile • GlobeNewswire Inc. • 01/09/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/03/2024 09:55:32 PM
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