Latest Updates

Latest Updates

06/12/2019

SURGE HOLDINGS SIGNS AGREEMENT WITH WEEKEND WARRIOR WELLNESS TO DISTRIBUTE HEMP ENERGY SHOTS, CBD MINTS AND CBD MINT STRIPS ON THE SURGEPAYS™ NETWORK

Memphis, TN – June 12, 2019 – Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Network for independent retailers, today announced that it has signed 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 the SurgePays™ Retail Blockchain 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.

Brian Cox, Chairman and CEO of Surge Holdings, commented, “We are pleased to add Weekend Warrior Wellness’ CBD products to the SurgePays Network, as they address an important, high-margin and growing product category for independent retailers.  We heavily researched available products and selected Weekend Warrior Wellness due to the high-quality and attractive wholesale pricing of their products.  This latest agreement is consistent with our mission of empowering independent retailers as profit partners to access unique products and services through the SurgePays Network.”

“We are making rapid progress rolling out the SurgePays Network through our partnership with AATAC, one of the nation’s largest private trade associations.  We expect to be in 40,000 independent retail stores upon completion of the initial rollout. By leveraging this massive distribution channel, we will be able to ensure placement of Weekend Warrior Wellness’ CBD products in thousands of retail locations and propel them to national status within an exploding industry.”

Ann Heavener, Chief Marketing Officer of Contigo Products, LLC, further noted, “We look forward to launching our ‘5-Hour Hemp Energy Shots,’ ‘Energy Mints with CBD’ and ‘Mint Strips with CBD,’ followed by a variety of other products through the SurgePays Network.  Through our partnership with Surge, we expect to cost effectively access thousands of independent retailers nationwide, rather than building out our own direct sales force and distribution network.  We will also benefit from immediate payment terms, advanced data analytics to improve operating efficiencies, and a comprehensive end-to-end fulfillment solution.”

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. 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]

06/10/2019

SURGE EXPANSION

Centercom update: New buildout at operations center to support $SURG expansion across all subsidiaries is almost done. Exciting times!

05/16/2019

SURGE PROVIDES UPDATE ON ROLLOUT OF SURGEPAYS™ NETWORK AND ANNOUNCES 15% INCREASE IN REVENUE TO $3.9 MILLION FOR THE FIRST QUARTER OF 2019

Announces initial placement order for SurgePhones and SIM Starter Kits
valued at over $17.5 million

Memphis, TN – May 16, 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 first quarter ended March 31, 2019.

Brian Cox, CEO and Chairman of Surge Holdings, commented, “I am pleased to report we are making tremendous progress in the development and rollout of the SurgePays™ Network, which empowers independent retailers as profit partners to access products and services through our secure, blockchain-based technology platform.  This system reinvents the retail supply chain by providing independent retailers seamless access to global products and the ability to select, order and fulfill delivery of wholesale goods from around the country. Our system also provides a cost-effective and efficient platform for regional manufacturers to access retailers nationwide.”

“Through our recently announced partnership with AATAC, one of the nation’s largest private trade associations, we expect to rollout the SurgePays™ Network into nearly 40,000 independent retail stores within 9 months.  We plan to leverage this massive distribution channel by introducing proprietary products such as our SurgePays™ Visa Card as well as our SurgePhone and SIM Starter Kit.  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.  In addition, we anticipate a high replenishment rate based on market feedback and preferred in-store product placement utilizing our custom countertop displays. We will be introducing the SurgePays™ Visa Card in June, as well as other high margin products and services from other manufacturers.”

“I am also pleased to report that we achieved 15% growth in revenue to $3.9 million for the first quarter of 2019. Through our subsidiary True Wireless, we provide subsidized wireless service to low income individuals in 5 states limited to one phone per household. We are gradually transitioning towards our SurgePhone Wireless and SIM Starter Kit model, which offers the first completely free wireless service supported by ad revenue and available in all 50 states with no limits per household.  We believe this represents an enormous, untapped and highly scalable market opportunity that is not dependent on government subsidies.”

“Most recently, we announced that we achieved another major milestone with the integration of UPS into the SurgePays fulfillment module, which is now live on the system. We believe this integration will streamline the process of ordering, fulfilling and delivering products.  In addition, we can lower distribution costs for manufacturers by allowing them to leverage the mass purchasing power available through UPS on our network.  We plan to begin onboarding manufacturers to the SurgePays™ network during the second quarter.”

“Finally, in March we announced that we filed an application to list on the NASDAQ Capital Market. If approved, we believe this listing will help broaden awareness of the company within the investment community as we continue to execute on our business model.”

First Quarter 2019 Financial Highlights

For the three months ended March 31, 2019 and 2018, revenues were approximately $3.9 million and $3.4 million, respectively. Operating loss for the three months ended March 31, 2019 was approximately $(1.1) million versus operating income of approximately $0.4 million for the quarter ended March 31, 2018, reflecting increased expenses following the True Wireless merger and investment to build out the SurgePays™ Network. Net loss for the three months ended March 31, 2019 was approximately $(1.6) million, or $(0.02) per share, versus a net income of $0.4 million, or $0.01 per share, in the prior period.

A copy of the Company’s quarterly report on Form 10-Q has been filed with the Securities and Exchange Commission (www.sec.gov) and posted on the Company’s website at https://surgeholdings.com/.

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. 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]

04/30/2019

SURGE HOLDINGS ANNOUNCES INTEGRATION OF UPS INTO ITS SURGE PAYS™ RETAIL BLOCKCHAIN NETWORK

Reduces costs and streamlines process of ordering, fulfillment and delivery of products between local retailers and manufacturers through a modular and scalable software platform.

Memphis, TN – April 30, 2019Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ retail blockchain network, is pleased to announce it has completed the integration of UPS delivery into the Company’s SurgePays™ platform. 

Brian Cox, CEO and Chairman of Surge Holdings, commented, “The SurgePays™ platform transforms the traditional retail supply chain by providing a virtual distribution hub for local retailers and convenience stores to access wholesale goods from around the country. In addition, our platform provides manufacturers the ability to cost effectively reach tens of thousands of stores nationwide.  I am pleased to report we have achieved an important milestone with the integration of UPS into the SurgePays™ fulfillment module, which has now been fully tested, completed and is live on the system.  As a result, we can provide manufacturers with pick-pack-ship forms and pre-populated UPS shipping slips, as well as tracking and notifications for both the manufacturer and merchants.  Importantly, we believe this integration will also help lower distribution costs for manufacturers by allowing them to leverage the mass purchasing power available through UPS.”

“Our goal from the start has been to make the process of ordering, fulfillment and delivery of products between local retailers and manufacturers as simple, quick and efficient as possible through a modular and scalable software platform.  I’d especially like to thank John Mott, our Chief Technology Officer, who has done a great job leading multiple teams of software developers to make this integration possible.”

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. 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]

04/18/2019

SURGE HOLDINGS GRANTED KEY TRADEMARK BY THE UNITED STATES PATENT AND TRADEMARK OFFICE

Memphis, TN – April 18, 2019Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ retail blockchain network, is pleased to announce it has received registered trademark status for its Surge™ logo by the US Patent and Trademark Office.

Brian Cox, CEO and Chairman of Surge Holdings, commented, “This trademark approval is a key milestone, as we rapidly build our brand around the SurgePays™ retail blockchain network, which transforms the traditional retail supply chain by providing ‘mom and pop’ retailers as well as corner stores with a virtual distribution hub to access global products.  As evidence of our traction and growing brand awareness, we are on track to roll out the platform to approximately 40,000 retail locations by the end of this year alone.  In addition, we are increasing our brand awareness among consumers through our SurgePhone Wireless service and our SurgePays™ reloadable debit card.  These products are expected to generate a significant and high margin recurring revenue stream for Surge in the months and years ahead.  More importantly, these products are designed to attract retailers to our distribution platform by providing them highly differentiated and recurring revenue products targeting low income and under-banked consumers.  This latest trademark will serve to further protect our brand as we seek to rapidly establish our pre-eminent position within the market.”

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. 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]

03/06/2019

SURGE HOLDINGS INC. FILES APPLICATION FOR UPLISTING TO THE NASDAQ CAPITAL MARKET

Memphis, TN — (March 6, 2019) – Surge Holdings Inc. (“Surge”) (OTCQB: SURG), a Memphis-based Technology and Blockchain FinTech Software Company is pleased to announce today it has filed an application for uplisting on the NASDAQ Capital Market.

“We believe uplisting from the OTC Market to the Nasdaq Capital Market will increase corporate visibility, improve liquidity, and broaden awareness in the financial markets,” stated Brian Cox, Surge’s CEO and Chairman of the Board. “An uplist will open the investment opportunity to a larger pool of investors and help create greater shareholder value. We have made significant progress in strengthening our financial performance, governance and liquidity, positioning the Company for future growth and profitability. A listing on the Nasdaq Capital Market is a natural progression for the Company and our shareholders.”

The Company’s common stock will continue to trade on the OTCQB under its current symbol, SURG, during the NASDAQ review process and while the Company prepares to meet all the requirements for uplisting to NASDAQ.

About Surge Holdings Inc:

Surge Holdings Inc. is a publicly traded company headquartered in Memphis, TN. Surge wholly owns and actively operates subsidiaries that utilize emerging technology to improve the quality of life for the unbanked, under-banked, and the overlooked. Surge products are delivered to a nationwide network of convenience stores and corner markets connected to the SurgePays™ Wholesale Marketplace Portal software platform. Current focus and holdings include Blockchain FinTech Software as a Service (SaaS) subsidiaries, Reloadable Debit Cards for the unbanked and Telecommunications subsidiaries. Surge Holdings, Inc is traded under the stock ticker symbol: SURG.

For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com

Follow CEO Brian Cox on Twitter for thoughts, insight, and progress of not only the short-term goals prioritized in this update, but relevant and material news for Surge: https://twitter.com/kbriancox

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. 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.

[email protected]
901-229-7205