SurgePays Inc (SURG)

[StockItOut]

Brian Cox is a SurgePays, Inc. liability.

Overall, we believe that SurgePays management is misleading investors and operating a business violating FCC regulations. The CEO has a history of alleged abuses of FCC programs, he continues to mislead investors about the expansion of the SurgePays network and potentially violates multiple FCC regulations regarding payment and registration of agents subscribing customers onto the ACP.

SurgePays, Inc: Abusing FCC Low-Income Programs
https://www.birddogresearch.com

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.

Rules regulating the ACP state the FCC “requires all participating providers to have their agents and other enrollment representatives registered with the Representative Accountability Database (RAD), as is currently required for the Lifeline and EBB Programs, as a way to minimize waste, fraud, and abuse… A participating provider shall require that enrollment representatives register with the Administrator before the enrollment representative can provide information directly or indirectly to the National Lifeline Accountability Database or the National Verifier