Replies to post #16063 on SurgePays Inc (SURG)

[bUrRpPPP!]

BK COMING! LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN



At December 31, 2020 and 2019, our current assets were $1,251,029 and $3,574,885, respectively, and our current liabilities were $15,306,509 and $7,054,124, respectively, which resulted in a working capital deficit of $14,055,480 and $3,479,239, respectively. The decrease in current assets is a result of recognizing bad debt expense to write off uncollectible accounts receivable. The increase in current liabilities is the result of incurring additional debt in 2020 with payment terms less than one-year.

[bUrRpPPP!]

SCURG Debt interest is over $63K per week! LMFAO!

Interest expense increased to $3,383,996 in 2020 from $227,016 in 2019 primarily due to an increase in total borrowings.

[bUrRpPPP!]

Interest expense increased over 1000% to $3,383,996 in 2020 from $227,016 in 2019 primarily due to an increase in total borrowings.