BARTLETT, TN, July 14, 2022 – SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company focused on the underbanked and underserved, announces it exceeded 150,000 subscribers in its mobile broadband subscriber business SurgePhone Wireless LLC (“SurgePhone”), the Company’s wholly owned subsidiary.
“Our goal is to make high speed internet accessible to the underbanked and underserved regardless of income, credit, or location. We believe employment, healthcare, and education for this market will be directly impacted by broadband connectivity,” said Chairman and CEO, Brian Cox.
Mr. Cox continued: “Now that we are a licensed provider of mobile broadband through the Affordable Connectivity Program (“ACP”) in all 50 states, we have made moves to accelerate growth including acquiring one of the leading wireless telecom Customer Relationship Management (“CRM”) cloud software platforms. This instantly increased our online sign-up and enrollment capabilities. We are now seeing over 300 new subscribers a day using custom developed bot technology to reach a larger audience and expect to continue to scale with triple digit growth. A government fact sheet estimated as many as 48 million households qualify under this program, which means we are in the early innings of a significant growth opportunity.
“It’s been my experience that scaling to the next 150,000 subscriber milestone should be much quicker based on economies of scale, software efficiencies and factoring most of the last year we only had 14 states. Now, we have all 50 states, are hitting on all cylinders and reinvesting the gross positive cash to accelerate sales growth. I expect to give another milestone update in the very near future. I am very proud of our team.”
For more information on SurgePays, please visit the Company’s investor relations website at ir.surgepays.com.
About SurgePays, Inc.
SurgePays, Inc. is a technology and telecommunications company focused on the underbanked and underserved communities. SurgePhone Wireless provides mobile broadband to low-income consumers nationwide. SurgePays blockchain fintech platform utilizes a suite of financial and prepaid products to enable corner stores and bodegas to be the tech-hubs for underbanked neighborhoods. Please visit SurgePays.com for more information.
About SurgePhone and Torch Wireless
SurgePhone and Torch, wholly owned subsidiaries of SurgePays, are mobile virtual network operators (MVNO) licensed by the FCC to provide subsidized mobile broadband services to consumers qualifying under the federal guidelines of the Affordable Communication Program (ACP). The ACP provides SurgePhone up to a $100 reimbursement for the cost of each tablet distributed and a $30 per customer, per month subsidy for data services. SurgePhone and Torch collectively have received approval to offer subsidized mobile broadband in all 50 states.
Brian M. Prenoveau, CFA
MZ Group – MZ North America
+561 489 5315
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