SurgePays, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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, 2025 · Filed Nov 12, 2025
SURG$0.17+2.3%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Balance Sheets
Consolidated Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | (Audited) | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $2,514,862 | $11,790,389 |
| Restricted cash - line of credit reserve | 224,947 | - |
| Restricted cash - held in escrow | - | 1,000,000 |
| Accounts receivable - net | 4,291,222 | 3,000,209 |
| Inventory | 1,917,617 | 1,781,365 |
| Prepaids and other | 278,532 | 298,360 |
| Total Current Assets | 9,227,180 | 17,870,323 |
| Property and equipment - net | 430,352 | 591,088 |
| Other Assets | ||
| Note receivable | 176,851 | 176,851 |
| Intangibles - net | 982,606 | 1,472,962 |
| Goodwill | 3,300,000 | 3,300,000 |
| Operating lease - right of use asset - net | 377,912 | 564,781 |
| Total Other Assets | 4,837,369 | 5,514,594 |
| Total Assets | $14,494,901 | $23,976,005 |
| Liabilities and Stockholders’ Equity (Deficit) | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | $8,335,599 | $3,929,195 |
| Accounts payable and accrued expenses - related party | 200,240 | 192,845 |
| Operating lease liability | 227,005 | 248,069 |
| Notes payable | 1,822,426 | - |
| Note payable - related party | 1,968,468 | 1,689,367 |
| Convertible notes payable - net | 5,120,308 | - |
| Total Current Liabilities | 17,674,046 | 6,059,476 |
| Long Term Liabilities | ||
| Note payable - related party | 762,328 | 1,866,288 |
| Notes payable - SBA government | 461,248 | 469,396 |
| Operating lease liability | 157,183 | 319,232 |
| Convertible notes payable - net | 1,864,576 | - |
| Total Long Term Liabilities | 3,245,335 | 2,654,916 |
| Total Liabilities | 20,919,381 | 8,714,392 |
| Stockholders’ Equity (Deficit) | ||
| Common stock, $0.001 par value, 500,000,000 shares authorized 20,761,231 and 20,431,549 shares issued and 20,065,278 and 20,068,929 shares outstanding, at September 30, 2025 and December 31, 2024, respectively | 20,765 | 20,435 |
| Additional paid-in capital | 78,363,849 | 76,842,878 |
| Treasury stock - at cost (695,953 and 362,620 shares, respectively) | (1,631,966) | (631,967) |
| Accumulated deficit | (83,122,177) | (60,915,427) |
| Stockholders’ equity (deficit) | (6,369,529) | 15,315,919 |
| Non-controlling interest | (54,951) | (54,306) |
| Total Stockholders’ Equity (Deficit) | (6,424,480) | 15,261,613 |
| Total Liabilities and Stockholders’ Equity (Deficit) | $14,494,901 | $23,976,005 |
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