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SURG Stock Price Correlated With SurgePays Financials
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Income Statement
Cash Flow
Balance Sheet
SURG Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
SURG Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
SURG Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
Note
1 - Organization and Nature of Operations
Organization
and Nature of Operations
SurgePays,
Inc. (“SurgePays,” “SP,” “we,” “our” or “the Company”), and its operating
subsidiaries, is a technology-driven company building a next generation supply chain software platform that can offer wholesale goods
and services more cost efficiently than traditional and existing wholesale distribution models.
The
parent (SurgePays, Inc.) and subsidiaries are organized as follows:
Schedule of Subsidiaries
Company
Name
Incorporation
Date
State
of Incorporation
SurgePays,
Inc.
August
18, 2006
Tennessee
KSIX
Media, Inc.
November
5, 2014
Nevada
KSIX,
LLC
September
14, 2011
Nevada
Surge
Blockchain, LLC
January
29, 2009
Nevada
Injury Survey, LLC
July 28, 2020
Nevada
DigitizeIQ,
LLC
July
23, 2014
Illinois
Surge
Logics, Inc.
October
2, 2018
Nevada
Surge
Payments, LLC
December
17, 2018
Nevada
Surgephone
Wireless, LLC
August
29, 2019
Nevada
SurgePays
Fintech, Inc.
August
22, 2019
Nevada
True
Wireless, Inc.
*
October
29, 2020
Oklahoma
ECS
Prepaid, LLC
June
9, 2009
Missouri
Torch Wireless, LLC
**
January
29, 2019
Wyoming
Central
States Legal Services, Inc.
August
1, 2003
Missouri
Electronic
Check Services, Inc.
May
19, 1999
Missouri
*
Entity
was disposed of on May 7, 2021.
**
As
of January 1, 2022, this was accounted for as a variable interest entity
SURGEPAYS,
INC. AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH
31, 2022
(UNAUDITED)
Impact
of COVID-19
The
ongoing COVID-19 global and national health emergency has caused significant disruption in the international and United States economies
and financial markets. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The spread of COVID-19
has caused illness, quarantines, cancellation of events and travel, business and school shutdowns, reduction in business activity and
financial transactions, labor shortages, supply chain interruptions and overall economic and financial market instability. The COVID-19
pandemic has the potential to significantly impact the Company’s supply chain, distribution centers, or logistics and other service
providers.
In
addition, a severe prolonged economic downturn could result in a variety of risks to the business, including weakened demand for products
and services and a decreased ability to raise additional capital when needed on acceptable terms, if at all. As the situation continues
to evolve, the Company will continue to closely monitor market conditions and respond accordingly.
We
have implemented adjustments to our operations designed to keep employees safe and comply with international, federal, state, and local
guidelines, including those regarding social distancing. The extent to which COVID-19 may further impact the Company’s business,
results of operations, financial condition and cash flows will depend on future developments, which are highly uncertain and cannot be
predicted with confidence. In response to COVID-19, the United States government has passed legislation and taken other actions to provide
financial relief to companies and other organizations affected by the pandemic.
The
ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are
highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may
emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or
the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced
operations.
Any
resulting financial impact cannot be reasonably estimated at t
1 - Organization and Nature of Operations
Organization
and Nature of Operations
SurgePays,
Inc. (“SurgePays,” “SP,” “we,” “our” or “the Company”), and its operating
subsidiaries, is a technology-driven company building a next generation supply chain software platform that can offer wholesale goods
and services more cost efficiently than traditional and existing wholesale distribution models.
The
parent (SurgePays, Inc.) and subsidiaries are organized as follows:
Schedule of Subsidiaries
Company
Name
Incorporation
Date
State
of Incorporation
SurgePays,
Inc.
August
18, 2006
Tennessee
KSIX
Media, Inc.
November
5, 2014
Nevada
KSIX,
LLC
September
14, 2011
Nevada
Surge
Blockchain, LLC
January
29, 2009
Nevada
Injury Survey, LLC
July 28, 2020
Nevada
DigitizeIQ,
LLC
July
23, 2014
Illinois
Surge
Logics, Inc.
October
2, 2018
Nevada
Surge
Payments, LLC
December
17, 2018
Nevada
Surgephone
Wireless, LLC
August
29, 2019
Nevada
SurgePays
Fintech, Inc.
August
22, 2019
Nevada
True
Wireless, Inc.
*
October
29, 2020
Oklahoma
ECS
Prepaid, LLC
June
9, 2009
Missouri
Torch Wireless, LLC
**
January
29, 2019
Wyoming
Central
States Legal Services, Inc.
August
1, 2003
Missouri
Electronic
Check Services, Inc.
May
19, 1999
Missouri
*
Entity
was disposed of on May 7, 2021.
**
As
of January 1, 2022, this was accounted for as a variable interest entity
SURGEPAYS,
INC. AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH
31, 2022
(UNAUDITED)
Impact
of COVID-19
The
ongoing COVID-19 global and national health emergency has caused significant disruption in the international and United States economies
and financial markets. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The spread of COVID-19
has caused illness, quarantines, cancellation of events and travel, business and school shutdowns, reduction in business activity and
financial transactions, labor shortages, supply chain interruptions and overall economic and financial market instability. The COVID-19
pandemic has the potential to significantly impact the Company’s supply chain, distribution centers, or logistics and other service
providers.
In
addition, a severe prolonged economic downturn could result in a variety of risks to the business, including weakened demand for products
and services and a decreased ability to raise additional capital when needed on acceptable terms, if at all. As the situation continues
to evolve, the Company will continue to closely monitor market conditions and respond accordingly.
We
have implemented adjustments to our operations designed to keep employees safe and comply with international, federal, state, and local
guidelines, including those regarding social distancing. The extent to which COVID-19 may further impact the Company’s business,
results of operations, financial condition and cash flows will depend on future developments, which are highly uncertain and cannot be
predicted with confidence. In response to COVID-19, the United States government has passed legislation and taken other actions to provide
financial relief to companies and other organizations affected by the pandemic.
The
ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are
highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may
emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or
the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced
operations.
Any
resulting financial impact cannot be reasonably estimated at t
Free historical financial statements for SurgePays Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 42 quarters since 2013. Compare with SURG stock chart to see long term trends.
Data imported from SurgePays Inc. SEC filings. Check original filings before making any investment decision.