Latest Updates

Latest Updates

08/15/2019

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

Completes installation of SurgePays™ Network in first stores

Initial product placement orders for 250,000 SurgePhones and 500,000 SIM Starter Kits for planned deployment into 40,000 stores

Announces $2.8 million of purchase orders related to SurgePays™ Network

Memphis, TN – August 15, 2019 – Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Network for independent retailers, today provided a business update and announced financial results for the second quarter ended June 30, 2019.

Brian Cox, CEO and Chairman of Surge Holdings, commented, “I am pleased that we have commenced our rollout with AATAC, one of the largest private trade associations, representing over 110,000 retail locations. They are truly an ideal partner—providing the ability to accelerate our rollout across the United States.  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. We have invested in the expansion of both our Memphis fulfillment facilities and our Centercom operations center in Central America to accommodate our expected growth. Having built industry leading operations in the past, our team had the experience to foresee what we believe will be necessary to support our growth.  We believe we now have everything in place to execute and are focused on growing both our retail distribution base as well as adding additional products to the SurgePays™ Network, a first of its kind fintech network connecting independent retailers, manufacturers and consumers.  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.”

“Additionally, AATAC representatives are providing their network of retailers our point-of-sale display to prominently showcase the SurgePhone and SIM Card products in store, while training merchants on the SurgePays™ Network. Our SurgePays™ Network offers the merchant a wholesale marketplace to order products from regional manufacturers.  At the same time, manufacturers are now able to distribute their products nationwide in a more efficient and effective manner. The platform will also allow us to market a wide variety of our own value-added products including SurgePhone Wireless, and, upon launch, the SurgePays™ Prepaid Visa® card. In fact, the initial product placement orders to deploy into 40,000 stores is 250,000 SurgePhones and 500,000 SIM Starter Kits.”

“During the quarter, we announced the signing of two distribution agreements for products we have added to our platform. In early June, we reported signing an agreement with Weekend Warrior Wellness, a brand of Contigo Products, LLC, to distribute its ‘5-Hour Hemp Energy Shots,’ ‘Energy Mints with CBD’ and ‘Mint Strips with CBD’ through our SurgePays™ Network. In addition to Weekend Warrior Wellness, we announced in late June that we entered into an agreement with Brimhall Foods Company, Inc., a leading regional manufacturer and distributor of quality snack food items throughout the Southeast under the BRIM’S brand, to distribute its BRIM’S snack foods nationwide through our SurgePays™ Network. We are excited about expanding the products we distribute as we believe this will provide us an important incremental revenue stream, in addition to providing a new profit center for the independent store owners.”

“It is important to note that we have begun to transition our telecom business away from True Wireless.  As per our plan, we expect to see a steady decline in True Wireless as SurgePhone and SurgePays™ revenues increase, due to the fact we are reallocating resources towards those businesses. While the True Wireless business played an important role in the past and has generated valuable cash flow to fund our activities, we believe the opportunities presented by the SurgePays™ Network dwarf those of True Wireless, while also eliminating our reliance on government subsidies and replacing it in short order with high margin recurring revenue. I have spent years developing an ad driven free service that yields equivalent or higher revenues than our government subsidized reimbursements.  I cannot imagine a better offering to rapidly grow our customer base than a free basic plan.  As a result, we are extremely encouraged by the outlook for the Company and feedback we have received from the stores that have already implemented our platform,” concluded Mr. Cox.

About Surge Holdings, Inc:

Surge Holdings, Inc. is a retail supply chain company leveraging blockchain technology to provide a virtual distribution hub for retailers, as well as offer telecom services for low income customers and financial payment services for the unbanked and under-banked. Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the SurgePays™ retail blockchain network.  This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products, and empowers the corner store to select, order and fulfill delivery of wholesale goods from around the country. This platform also provides manufacturers a cost-effective and efficient platform to access local retailers.  For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.

Forward Looking Statements

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes”, “expects”, “may”, “will”, “should”, “anticipates”, “plans”, or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements.   Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

Investor Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: [email protected]

08/14/2019

SURGE HOLDINGS ON TRACK TO BE IN 100,000 STORES BY 2021

Surge Holdings Inc (OTCQB: SURG) CEO Brian Cox tells Proactive the Tennessee-based company has launched its SurgePays Network Installations together with trade organization AATAC.


07/19/2019

Surge Holdings eyes big growth from new home in Bartlett area

With aggressive growth plans, Surge Holdings Inc. has moved its company headquarters from Las Vegas to the Brother Boulevard corridor in Bartlett. The company’s proprietary software platform connects independent retailers, manufacturers and consumers – and the company hopes to expand its reach with the move here. For the full article, click here.

07/18/2019

SURGE HOLDINGS ANNOUNCES LAUNCH OF SURGEPAYS™ NETWORK INSTALLATIONS WITH AATAC

Initial Deployment Underway to Over 700 Independent Retail Stores in Florida

Memphis, TN – July 18, 2019 – Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Network for independent retailers, today announced that it has successfully launched the SurgePays™ Retail Blockchain Network within the first retail locations. The launch is being conducted through Surge’s partnership with AATAC, one of the nation’s largest private trade associations spanning over 110,000 stores across the United States. SurgePays™ is expected to go live in over 700 AATAC-affiliated stores in the Tampa region over the next 30 days. SurgePays™ is a first of its kind fintech network connecting independent retailers, manufacturers, and consumers. As previously announced, the Company plans to roll out the SurgePays™ platform through the AATAC network across an initial target of 40,000 independent retail locations nationwide, starting with markets in Florida, followed by Virginia and Texas.

Brian Cox, Chairman and CEO of Surge Holdings, commented, “We have now entered the activation phase of the rollout, which includes on-boarding stores and product delivery. The formal launch of our SurgePays™ Network with AATAC marks a major milestone for the company. For a rollout of this magnitude, we have worked tirelessly for months on the planning, product logistics, training, in store fixtures, and enrollment software. AATAC has been a tremendous resource providing data and knowledge to enable us to refine the onboarding and contract process. AATAC’s help has resulted in an enhanced 2.0 version of our SurgePays™ software as well as a SurgePhone point-of-sale display to showcase the SurgePhone and SIM Card products. While this additional work has taken time, I am confident that the investment will reap great rewards in both top line revenue, as well as faster onboarding of additional retail stores. Following the initial deployment phase, our plan is to incorporate feedback and make any necessary adjustments to enhance efficiency and improve the user experience. Our goal is to increase the amount of installations over the next 2-3 months, with the ultimate goal to install the system in at least 3,000-4,000 locations per month. We believe that we are on track to achieve our previously stated goal of installing the system in approximately 40,000 locations over the next twelve months.”

“We are extremely encouraged by feedback from both retailers and manufacturers, as we believe the SurgePays™ Network has the potential to transform the retail supply chain by eliminating middle-men distributors. The system empowers independent stores to select, order, and fulfill delivery of wholesale goods nationwide. At the same time, we believe the system enables manufacturers to efficiently achieve mass distribution through a cost-effective nationwide platform.”

“In addition to connecting retailers and manufacturers through the network, the network supports value added products such as SurgePhone™ Wireless, the SurgePays™ Visa® prepaid card, and a variety of consumer products. By offering aggressive wholesale pricing, we can offer retailers a new source of high margin revenue, thereby enhancing the value and profitability of our network.”

About Surge Holdings, Inc:

Surge Holdings, Inc. is a retail supply chain company leveraging blockchain technology to provide a virtual distribution hub for retailers, as well as offer telecom services for low income customers and financial payment services for the unbanked and under-banked. Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the recently launched SurgePays™ retail blockchain network.  This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products and to empower the corner store to select, order and fulfill delivery of wholesale goods from around the country. This platform also provides manufacturers a cost-effective and efficient platform to access local retailers.  For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.

Forward Looking Statements

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes”, “expects”, “may”, “will”, “should”, “anticipates”, “plans”, or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements.   Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

Investor Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: [email protected]

07/12/2019

SURGE ENGAGES CRESCENDO COMMUNICATIONS, LLC

In an effort to increase our visibility and accessibility as we prepare for our uplisting to NASDAQ, Surge has engaged the Investor Relations Firm Crescendo Communications, LLC.

The Surge Investor Relations telephone number was recently changed.  You can now access the Surge’s Investor Relations team by calling 901-302-9587 and pressing option 2.

We are truly excited about the anticipated updates. As you know, we cannot give individual investors specific updates outside of what has been publicly released, so please be patient for our official announcements!

Have a great weekend!

David C. Ansani
Chief Administrative Officer

07/05/2019

INSIDE LOOK SURGE AT SURGE FINANCE AND ADMINISTRATION

Meet Surge Holdings’ Finance and Administration team all getting prepared for the growth to come in the next few months. A great team is key to success for Surge, and we are ready for the challenges to come.