SurgePays Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
SURG$0.17+2.3%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Balance Sheets
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $13,651,559 | $14,622,060 |
| Investments | 10,068,506 | - |
| Accounts receivable - net | 1,513,996 | 9,536,074 |
| Inventory | 8,363,138 | 9,046,594 |
| Prepaids and other | 312,679 | 161,933 |
| Total Current Assets | 33,909,878 | 33,366,661 |
| Construction-in-process | 518,189 | - |
| Property and equipment - net | 158,092 | 361,841 |
| Other Assets | ||
| Note receivable | 176,851 | 176,851 |
| Intangibles - net | 1,636,339 | 2,126,470 |
| Internal use software development costs - net | 372,303 | 539,424 |
| Goodwill | 4,166,782 | 1,666,782 |
| Investment in CenterCom | 498,273 | 464,409 |
| Operating lease - right of use asset - net | 62,786 | 387,869 |
| Deferred income taxes - net | - | 2,835,000 |
| Total Other Assets | 6,913,334 | 8,196,805 |
| Total Assets | $41,499,493 | $41,925,307 |
| Liabilities and Stockholders’ Equity | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | $3,173,968 | $6,439,120 |
| Accounts payable and accrued expenses - related party | 462,376 | 1,048,224 |
| Accrued income taxes payable | 100,000 | 570,000 |
| Deferred revenue | - | 20,000 |
| Operating lease liability | 50,415 | 43,137 |
| Note payable - related party | 1,647,491 | 4,584,563 |
| Total Current Liabilities | 5,434,250 | 12,705,044 |
| Long Term Liabilities | ||
| Note payable - related party | 2,303,989 | - |
| Notes payable - SBA government | 472,135 | 460,523 |
| Operating lease liability | 13,132 | 356,276 |
| Total Long Term Liabilities | 2,789,256 | 816,799 |
| Total Liabilities | 8,223,506 | 13,521,843 |
| Stockholders’ Equity | ||
| Common stock, $0.001 par value, 500,000,000 shares authorized 19,931,549 shares issued and 19,650,779 shares outstanding, respectively, at September 30, 2024 14,403,261 shares issued and outstanding at December 31, 2023 | 19,935 | 14,404 |
| Additional paid-in capital | 74,725,651 | 43,421,019 |
| Treasury stock - at cost (280,770 and 0 shares, respectively) | (485,131) | - |
| Accumulated deficit | (41,102,720) | (15,186,203) |
| Stockholders’ equity | 33,157,735 | 28,249,220 |
| Non-controlling interest | 118,252 | 154,244 |
| Total Stockholders’ Equity | 33,275,987 | 28,403,464 |
| Total Liabilities and Stockholders’ Equity | $41,499,493 | $41,925,307 |
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