Core Viewpoint - Surge Copper Corp. is advancing its 2025 field program at the Berg copper-molybdenum-precious metals project, focusing on resource updates and a pre-feasibility study while also engaging in a strategic private placement to raise approximately $4.5 million [1][6][7]. Operational Update - The 2025 field program at the Berg project is progressing with resource drilling nearing completion, totaling approximately 1,500 meters planned [2][3]. - The first geotechnical hole has been completed, which will help characterize ground conditions for proposed infrastructure [3]. - The program includes the first uphill-angle drilling at Berg, with a successful 456-meter hole completed at a 14-degree dip to assess mineralization and acid rock drainage potential [4]. - Additional activities include geophysical surveys, environmental baseline studies, and logistical preparations, contributing to the data needed for the pre-feasibility study [5]. Strategic Investment Update - Surge is conducting a private placement of common shares to a strategic investor, increasing their ownership to 19.9% of the company, expected to raise approximately $4.5 million [6][7]. - The subscription agreement for the private placement has been executed, and regulatory approval processes are underway in South Africa [7]. - The transaction is anticipated to close within approximately four weeks, pending necessary regulatory approvals [7]. Upcoming Investor Events - Surge management will participate in several investor conferences in North America and the UK, including the Precious Metals Summit in Colorado and the Metals Investor Forum in Vancouver [10].

Financial Data and Key Metrics Changes - The company's revenue for Q2 2025 increased approximately 8.9% sequentially, totaling approximately $22.1 million for the year [4][15] - Platform service revenue grew significantly, generating $9.2 million in 2025 compared to $2.5 million in 2024 [15] - Gross profit was a loss of $2.7 million for 2025, an improvement from a loss of $3.4 million in 2024 [16] - The net loss for 2025 was reported at $7.1 million, with a loss per share of negative $0.35 [18] Business Line Data and Key Metrics Changes - The Lifeline Wireless program through the Torch brand has scaled significantly, with activations increasing from 20,000 in June to 57,000 in July, and projections of 80,000 to 90,000 by September [5][6] - The MVNO prepaid LinkUp platform launched in April, activating approximately 10,000 users, which more than doubled to over 20,500 in July [9] - Third-party prepaid wireless top-up revenue reached $4.3 million in July, with projections of nearly $5 million in August [10] Market Data and Key Metrics Changes - The company is focusing on states with higher margins for Lifeline activations, leveraging experience from previous programs [25][32] - The competitive landscape includes established companies, but the company differentiates itself through its compensation structure and proprietary enrollment platform [64][66] Company Strategy and Development Direction - The company aims to ramp up to 100,000 locations operating on its platform through organic growth and distribution agreements [14] - A strategic partnership with AT&T enhances the company's telecom infrastructure capabilities [7][8] - The focus is on transitioning from ACP to Lifeline and LinkUp, with a clear strategy to prioritize known revenue streams for quicker profitability [33][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in growth, citing strong activation growth and expanding distribution as key drivers [20] - The company is optimistic about future revenue guidance, projecting $75 million to $90 million for 2025 and $225 million to $240 million for 2026 [5][18] - Management acknowledged the challenges faced during the transition but emphasized the importance of execution at scale [20] Other Important Information - The company has made significant investments in infrastructure and operational efficiencies to support growth [7] - The Lifeline program has been operational for a long time, and the company has leveraged its historical experience to enhance its current offerings [25] Q&A Session Summary Question: What are the key drivers for Lifeline activations? - Management highlighted the focus on states with higher margins and the experience gained from previous programs as key drivers for growth [24][25] Question: How does the company balance priorities between Lifeline and LinkUp? - The company prioritizes known revenue streams, focusing on Lifeline for quicker profitability while still supporting LinkUp's growth [29][33] Question: How is the competitive marketplace, and is there a risk of price competition? - Management acknowledged competition but emphasized their unique compensation structure and proprietary platform as differentiators [64][66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 001-40992 SURGEPAYS, INC. (Exact name of registrant as specified in its charter) | Nevada | 98-0550 ...

BARTLETT, Tenn., Aug. 13, 2025 /PRNewswire/ -- SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a wireless and point-of-sale technology company, today announced its financial results for the second quarter ended June 30, 2025, and provided updated revenue guidance for 2025 and 2026.While second quarter revenue increased approximately 8.9% sequentially to $11.5 million, the Company's focus is on the significant momentum achieved since the quarter closed. SurgePays is on pace for record-breaking ...

Summary of the Conference Call Company Overview - The company operates in the prepaid wireless market in the United States, catering to approximately 100 million prepaid wireless subscribers, primarily targeting the blue-collar working class and government-subsidized demographics [3][4] - The company has integrated with AT&T as a Mobile Virtual Network Operator (MVNO), with the MVNO market projected to grow from $30 billion in 2023 to nearly $53 billion by 2031 [4] Distribution and Growth Strategy - The company currently has around 9,000 retail points for distribution, with a goal to expand to over 100,000 stores [6][8] - The target market frequently visits local community stores, which are crucial for the company's distribution strategy [6][7] - The company aims to help store owners increase revenue through transactions and foot traffic [7] Revenue Channels - The company has three main revenue channels from its contract with AT&T: 1. **Prepaid Brand (LinkUp)**: Competing with other prepaid companies like Cricket and Boost [10] 2. **Government Subsidized Channel (Torch Wireless)**: Focused on the Lifeline program, which provides free connectivity to eligible households [11][12] 3. **Wholesale to Other Wireless Companies**: The company is integrating with other MVNOs on its platform [13][14] Financial Performance and Projections - The company is confident in its revenue guidance due to a strong team with extensive experience in the prepaid market [15][16] - The Lifeline program is expected to scale faster than previous programs, with projections for cash flow positivity by the end of 2025 [18][26] - The company is currently seeing subscriber growth in the thousands per day, with a focus on states that offer higher payments under the Lifeline program [24][25][26] Market Dynamics - The prepaid wireless industry is relatively new, having gained significant traction since 2009, indicating potential for continued growth [16] - The company has diversified its revenue streams to avoid reliance on a single channel, which mitigates risks associated with funding uncertainties [21] Future Outlook - The company anticipates exponential growth as it scales its four revenue channels, all of which are recurring revenue models [23][24] - There is a strong emphasis on real-time visibility of growth metrics to keep shareholders informed [24][25] Conclusion - The company is positioned for significant growth in the prepaid wireless market, with a robust strategy to expand its distribution network and diversify its revenue streams, while leveraging its partnership with AT&T to enhance its service offerings and market reach [4][10][21]

Core Viewpoint - SurgePays, Inc. is actively engaging with investors through a fireside chat hosted by Water Tower Research, focusing on its business model and market opportunities in the wireless and fintech sectors [1][2]. Company Overview - SurgePays, Inc. operates as a wireless, fintech, and point-of-sale technology company, targeting underserved communities with mobile connectivity and financial services [4]. - The company functions as both a mobile virtual network operator (MVNO) and a mobile virtual network enabler (MVNE), providing its own wireless brand and backend infrastructure to other providers [4]. Event Details - The fireside chat will take place on July 29, 2025, at 11:00 am Eastern Time, and is open to all investors [2]. - Topics to be discussed include SurgePays' addressable market, subscriber growth, profitability timeline, and outlook for 2025 and 2026 [7]. Leadership Background - John Roy, the host of the event, has extensive experience in technology stock analysis, having worked at UBS and Merrill Lynch, among others [3].

Core Insights - SurgePays, Inc. will participate as a gold sponsor in the All Wireless and Prepaid Expo, showcasing its innovative products and services [1][2] Product Offerings - SurgePays will introduce its "phone-in-a-box" prepaid service smartphones, designed for convenience stores and non-wireless retail channels, operating on the AT&T network [3] - Each smartphone comes preloaded with a SIM card, offering the first month of prepaid service with 12 gigabytes of domestic data and unlimited voice and text within the U.S., Canada, and Mexico [4] - The ClearLine business unit will demonstrate its point-of-sale apps, which facilitate in-store marketing campaigns, loyalty program enrollment, and customer engagement through NFC and QR codes [5] Marketing Initiatives - SurgePays will distribute samples of its ClearLine NFC Card, a digital smartcard that allows users to share their digital profiles easily without needing an app [6] - A workshop titled "Real-Time Marketing Magic - Engaging Customers at the Moment of Impact" will be conducted by SurgePays' VP of Product, focusing on strategies to engage customers effectively [7] Company Overview - SurgePays, Inc. is a wireless, fintech, and point-of-sale company that aims to provide mobile connectivity and financial services to underserved communities, operating as both a mobile virtual network operator (MVNO) and mobile virtual network enabler (MVNE) [9]

Core Viewpoint - Surge Copper Corp. has successfully increased its non-brokered equity financing from approximately $6.4 million to up to $10.4 million due to strong investor demand, with full subscription from both new and existing investors [1] Group 1: Offering Details - The Offering will consist of a LIFE Offering of up to 19.2 million common shares at $0.175 per share for gross proceeds of up to $3.4 million, and a LIFE Charity Flow-Through Offering of up to 9.4 million charity flow-through common shares at $0.265 per share for gross proceeds of up to $2.5 million [7] - A Concurrent Strategic Investment is expected to raise up to $4.5 million through a private placement of up to 25.8 million common shares at $0.175 per share, increasing the strategic investor's ownership to up to 19.9% [7] Group 2: Use of Proceeds - Net proceeds from the Offering will fund engineering, environmental, and early-stage permitting activities at the Berg Project, supporting the completion of a Preliminary Feasibility Study and potential entry into the Environmental Assessment process [2] - A portion of the proceeds will also be allocated for general working capital [2] Group 3: Company Overview - Surge Copper Corp. is advancing a critical metals district in British Columbia, owning a large mineral claim package with multiple advanced porphyry deposits containing copper, molybdenum, gold, and silver [9] - The Company holds a 100% interest in the Berg Project, which has a Preliminary Economic Assessment (PEA) indicating an NPV of C$2.1 billion and an IRR of 20% based on long-term commodity prices [10]

Core Viewpoint - Surge Copper Corp. is advancing its Berg Project through a non-brokered equity financing of up to $6.4 million, aimed at completing a Preliminary Feasibility Study and initiating early-stage permitting activities as part of its 2025 objectives [1] Financing Details - The financing will occur through two concurrent private placements: 1. LIFE Offering: Up to 14.3 million common shares at $0.175 per share, raising up to $2.5 million, expected to close in two to three weeks [2] 2. Concurrent Strategic Investment: A significant existing strategic investor will purchase common shares at the same price, potentially raising up to $3.9 million, expected to close within four to six weeks [3] - The Company may increase the size of the LIFE Offering based on demand [4] Use of Proceeds - Net proceeds from the Offering will fund engineering, environmental, and early-stage permitting activities at the Berg Project, supporting the completion of a Preliminary Feasibility Study and entry into the Environmental Assessment process [5] Company Overview - Surge Copper Corp. is focused on developing a critical metals district in British Columbia, owning a large mineral claim package with advanced porphyry deposits containing copper, molybdenum, gold, and silver [11] - The Company holds a 100% interest in the Berg Project, which has a maiden PEA indicating a large-scale project with an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices [12]

Core Viewpoint - SurgePays, Inc. has launched a new line of "phone-in-a-box" prepaid smartphone kits aimed at convenience stores and non-wireless retail channels, enhancing accessibility to mobile services for consumers [1][2][3]. Company Overview - SurgePays, Inc. operates as a wireless, fintech, and point-of-sale technology company, focusing on providing mobile connectivity and financial services to underserved communities [6]. - The company functions as both a mobile virtual network operator (MVNO) and a mobile virtual network enabler (MVNE), offering its own wireless brand and backend infrastructure to other providers [6]. Product Details - The new smartphone kits are branded under SurgePays' LinkUp Mobile MVNO and utilize the AT&T network, featuring a preloaded SIM card and the first month of service, which includes 12 gigabytes of data and unlimited voice and text in the U.S., Canada, and Mexico [3][5]. - The standard monthly service cost for the featured plan is $30, with options for different service levels starting from the second month [5]. Market Strategy - SurgePays aims to simplify the wireless market entry for convenience stores, allowing them to sell these smartphone kits with ease, similar to selling common retail items [4]. - The point-of-sale platform used by SurgePays enables retailers to facilitate SIM activations and service renewals, promoting repeat sales and customer retention [5]. Product Specifications - The "Better Phone" features a 6.3-inch HD IPS screen, 32GB internal storage, 2GB RAM, a 5MP rear camera, and a 3000mAh removable battery [8]. - The "Best Phone" includes a 6.5-inch HD IPS screen, 32GB internal memory, 3GB RAM (expandable), an 8MP rear camera, and a 3000mAh removable battery [8].