SurgePays, Inc. Provides Update on LogicsIQ Subsidiary
LogicsIQ, Inc. (Formerly Surge Logics, Inc.) changes name to brand pure-play SaaS for law firms
Bartlett, TN, May 6, 2021 (GLOBE NEWSWIRE) – SurgePays, Inc. (OTCQB: SURG) (“SurgePays” or the “Company”), a blockchain fintech company building a next generation supply chain network that offers wholesale goods and financial services for the underbanked more cost efficiently than traditional distribution models, today announces that its subsidiary LogicsIQ, Inc. has recently made the necessary regulatory filings to formally change its name and branding from Surge Logics, Inc. to LogicsIQ, Inc. (“LogicIQ”).
“Our intention for SurgePays was to develop a blockchain fintech software platform to improve products and services distribution to underbanked markets. We applied these same software development concepts to our media subsidiary and the result has been 10X growth over the last 3 years,” said SurgePays’ Chief Executive Officer Brian Cox. “We are thrilled at the success of LogicsIQ for many reasons and are exploring the best possible options to pick up significant shareholder equity and value such as a spin-off or IPO. Successfully separating the branding and management teams is the first step to accomplishing our next set of short-term goals.”
LogicsIQ is led by a seasoned executive team that has helped revenue grow from $1.6 million in 2018 to $7.2 million in 2019 to $16.0 million in 2020. Management looks to build on its growth both organically and through acquisitions to become the top turn-key software as a service (SaaS) solutions provider of software-driven services to law firms and other industry verticals.
LogicsIQ is an enterprise software company providing marketing business intelligence, client generation, case load management solutions, and vertically integrated services initially targeted law firms in the U.S. With its administrative office in Chicago, IL and operations in Las Vegas, NV, LogicsIQ offers a proprietary, SaaS-based customer relationship management case load management software (called Intake Logics) and marketing services developed for law firms of any size.
About SurgePays, Inc.
SurgePays, Inc. utilizes its blockchain software platform to offer a comprehensive suite of prepaid, financial services for the underbanked, and top selling wholesale products to independently owned convenience stores, mini-marts, tiendas, and bodegas more cost efficiently than existing wholesale distribution models. Please visit www.SurgePays.com for more information.
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