Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.21.2
Segment Information (Tables)
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Schedule of Operating Segments

The Company evaluated performance of its operating segments based on revenue and operating loss. Segment information for the three and nine months ended September 30, 2021 and 2020, are as follows:

 

                         
    For the Three Months Ended September 30,     For the Nine Months Ended September 30,  
    2021     2020     2021     2020  
                         
Revenues                                
Surge Blockchain & Other   $ 1,283,433     $ 125,762     $ 1,364,351     $ 671,931  
LogicsIQ     7,453,036       3,718,593       15,350,491       13,626,638  
TW     -       680,205       1,157,981       1,725,053  
ECS     5,801,884       8,277,612       19,032,550       27,081,145  
Total   $ 14,538,353     $ 12,802,172     $ 36,905,373     $ 43,104,767  
                                 
Cost of revenues                                
Surge Blockchain & Other   $ 1,202,699     $ 142,469     $ 1,212,334     $ 817,454  
LogicsIQ     5,827,856       2,775,889       12,628,669       10,419,011  
TW     -       270,613       306,062       1,750,454  
ECS     5,604,316       8,027,215       18,397,554       26,435,857  
Total   $ 12,634,871     $ 11,216,186     $ 32,544,619     $ 39,422,776  
                                 
Operating expenses                                
Surge Blockchain & Other   $ 1,282,709     $ 2,058,761     $ 4,973,867     $ 7,175,767  
LogicsIQ     646,511       820,019       1,604,073       3,018,200  
TW     61,458       (16,940 )     615,013       708,080  
ECS     288,696       349,070       1,061,490       1,112,569  
Total   $ 2,279,374     $ 3,210,910     $ 8,254,443     $ 12,014,616  
                                 
Operating income (loss)                                
Surge Blockchain & Other   $ (1,201,975 )   $ (2,075,469 )   $ (4,821,850 )   $ (7,321,290 )
LogicsIQ     978,669       122,685       1,117,749       189,427  
TW     (61,458 )     426,532       236,906       (733,481 )
ECS     (91,128 )     (98,672 )     (426,494 )     (467,281 )
Total   $ (375,892 )   $ (1,624,924 )   $ (3,893,689 )   $ (8,332,625 )

 

 

SURGEPAYS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

 

    September 30, 2021     December 31, 2020  
             
Total Assets                
Surge Blockchain & Other   $ 2,763,299     $ 911,316  
LogicsIQ     1,779,572       1,079,806  
TW     -       515,592  
ECS     4,088,088       4,818,357  
Total   $ 8,630,959     $ 7,325,071  
                 
Total Liabilities                
Surge Blockchain & Other   $ 17,122,811     $ 10,922,205  
LogicsIQ     2,036,130       2,440,888  
TW     -       4,301,249  
ECS     17,923       386,695  
Total   $ 19,176,864     $ 18,051,037