"SurgePays, Inc. is meeting the needs of underserved markets in financial technology, telecommunications, and digital media. It offers prepaid wireless and underbanked financial products and services and popular consumer goods to retail merchants (such as operators of convenience stores, bodegas, and gas stations) that address the needs of many store customers nationwide.
The SurgePays system is a fintech software platform that processes third-party prepaid wireless activations and top-ups, gift card activation and loads, and wireless SIM activation. It enables retailers to instantly add credit to any prepaid wireless customer's account for any carrier, providing the merchant commissioned transactions, increased foot traffic, and customer loyalty. Additionally, SurgePays offers an innovative supply-chain marketplace for convenience stores, bodega, and tienda owners. Retailers can order many top-selling products for their store at a deeper wholesale discount than traditional distribution due to utilizing the Direct Store Delivery (DSD) model." Source (Surgepays Inc Website) SurgePays - Prepaid Wireless, Wholesale Products & ISO Services
$SURG has spent the lat year working on an up-list from the OTC market to the NASDAQ, which included a 50/1 reverse split leaving just over 17 million shares outstanding (FULLY DILUTED). There are around 6 million warrants and a small number of stock options. Currently, there are roughly six million shares in the float. The Federal "ACP" Affordable Connectivity Program has been implemented to help qualifying families /households afford internet service. Surgepays Inc has roughly seventy thousand broadband customers they signed up to the program since becoming an approved provider across 12 states. The addressable market for $SURG may be getting much more prominent soon as Brian Cox, the CEO, and his executive team is in negotiations with a potential acquisition that will dramatically expand the number of states they serve.
"• Program consists of reimbursing up to $100 of the cost of a 4G/LTE tablet and $30 per month for data usage – averaging 800- 1,000 new customers per day" Source Surgepays most current investor deck." SURG Investor Presentation (d1io3yog0oux5.cloudfront.net)
The goto market strategy is unique because they are not just helping the underserved but also helping the small independent convenience store business owners. Surgepays provides wholesale products that the convenience store owners in rural areas could not typically carry for many reasons, from minimum quantity, delivery, or not being large enough to qualify as an approved distributor. $SURG reduces distribution costs, warehousing, and labor costs. $SURG is helping the independent stores increase their product offering and profit potential while providing 10% to 15% lower prices realized by store owners.
The stock and the CEO have been on a rough ride for four years. With the NASDAQ up-listing behind them, the executive team can focus on sales and execution growing the company. Brian has a clear vision. He has learned some tough lessons and now feels he has a clear path to cash flow positive and eventual profitability.
Technically the chart is at the beginning of a gap fill, and during the last few months, while the micro and small-cap stocks have been getting pounded, $SURG has been stair-stepping higher. With any significant news flow like the completion of an accretive acquisition. Due to the low float, $SURG could move significantly higher. The next few months could be exciting for the company and its shareholders. Watch the video and do your own due diligence, but in my view, I think this is a compelling price level to get involved. I have taken a starter position, and provided that Brian and his executive team execute, I will be looking to build onto that position. Insiders have been buying shares in the open market and have skin in the game. Put Surgepays on your radar and decide whether or not you think it could be a "Hidden Gem"!
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