SurgePays Subsidiary SurgePhone Wireless Accelerates Rollout of EBB Devices
Two weeks of testing software integration generates over 800 customers and $115,211 in revenue
BARTLETT, Tenn., Sept. 14, 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 the acceleration of its distribution of the Emergency Broadband Benefit Program (“EBB Program”) through the Company’s wholly owned subsidiary, SurgePhone Wireless LLC (“SurgePhone”). The EBB Program provides SurgePhone up to a $90 reimbursement for the cost of a tablet and $50 per customer, per month subsidy for data services. In August, SurgePhone distributed EBB-sponsored devices to 833 customers, generating $115,211 in revenue.
“Our original projection had us generating 5,000 MVNO customers a month, but after generating over 800 new MVNO customers while testing our onboarding platform in just one of our 14 approved EBB states and already seeing over 250 a day, we realized the 13,000 tablets in stock will not be enough to stay ahead of growth. We have had to accelerate sourcing of devices and expect to have 20,000 tablets in hand by early October to continue this sales trajectory,” commented Brian Cox, Chairman and CEO of SurgePays. “We are gratified to be participating in the EBB Program as it supports our mission to provide a variety of financial and technological services, both needed and wanted, to those who have been consistently underserved in the general market.”
The EBB Program allows one monthly service discount plan and one device discount per household and eligible consumers need to enroll in the EBB Program through their participating retailer offering the connected devices. SurgePhone has received approval to offer customers these discounted services in California, Colorado, Florida, Illinois, Maryland, Mississippi, Missouri, Nevada, New Jersey, Ohio, Oklahoma, Rhode Island, Tennessee, and Texas. SurgePhone is a mobile virtual network operator (MVNO) and operates both the SurgePhone wireless and Loco Rabbit wireless brands.
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.
Tony Evers CPA, CIA
Chief Financial Officer
Investor Relations Contact:
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Released September 14, 2021