SurgePays, Inc.
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 15, 2026
SURG$0.16+3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| For the Years Ended December 31, | ||||
|---|---|---|---|---|
| 2025 · 2024 | ||||
| Operating activities | ||||
| Net loss - including non-controlling interest | $(36,069,708) | $(45,937,774) | ||
| Adjustments to reconcile net loss to net cash used in operations | ||||
| Depreciation and amortization | 859,970 | 942,450 | ||
| Amortization of right-of-use assets | 251,371 | 126,970 | ||
| Amortization of debt discount/debt issue costs | 759,926 | - | ||
| Amortization of internal use software development costs | - | 222,830 | ||
| Impairment loss - CenterCom | - | 498,273 | ||
| Impairment loss - internal use software development costs | - | 316,594 | ||
| Impairment loss - goodwill - Clearline | 2,500,000 | 866,782 | ||
| Impairment loss - goodwill - Torch | 800,000 | - | ||
| Impairment loss - note receivable | 176,851 | - | ||
| Stock issued for services | 641,430 | 411,740 | ||
| Recognition of stock based compensation - related parties | 939,990 | 6,752,706 | ||
| Recognition of share based compensation - options | 1,149,449 | 986,244 | ||
| Recognition of share based compensation - options - related party | 552,286 | 622,949 | ||
| Realized gain in sale of investments | - | (13,613) | ||
| Interest expense adjustment - SBA loans | - | 19,750 | ||
| Right-of-use asset lease payment adjustment true up | - | (267,347) | ||
| Gain on equity method investment - CenterCom | - | (33,864) | ||
| Cash paid for lease termination | - | (212,175) | ||
| Loss on lease termination - net | - | 194,863 | ||
| Changes in operating assets and liabilities | ||||
| (Increase) decrease in | ||||
| Accounts receivable | (1,044,953) | 6,535,865 | ||
| Inventory | 1,441,795 | 7,265,229 | ||
| Prepaids and other | (283,463) | (136,427) | ||
| Deferred income taxes - net | - | 2,835,000 | ||
| Increase (decrease) in | ||||
| Accounts payable and accrued expenses | 6,355,272 | (2,509,925) | ||
| Accounts payable and accrued expenses - related party | (75,299) | (356,388) | ||
| Accrued income taxes payable | - | (570,000) | ||
| Deferred revenue | - | (20,000) | ||
| Operating lease liability | (248,069) | 148,665 | ||
| Net cash used in operating activities | (21,293,152) | (21,310,603) | ||
| Investing activities | ||||
| Purchase of property and equipment | (18,590) | (518,189) | ||
| Purchase of investments - net | - | (10,159,444) | ||
| Proceeds from sale of investments | - | 10,173,057 | ||
| Cash paid for acquisition of Clearline Mobile, Inc. | - | (2,500,000) | ||
| Net cash used in investing activities | (18,590) | (3,004,576) | ||
| Financing activities | ||||
| Proceeds from stock issued for cash | 1,774,636 | 17,249,994 | ||
| Proceeds from exercise of common stock warrants | - | 8,799,257 | ||
| Cash paid as direct offering costs - common stock | (123,197) | (1,395,000) | ||
| Proceeds from issuance of notes payable | 6,628,811 | - | ||
| Repayments of notes payable | (4,751,765) | - | ||
| Proceeds from issuance of convertible notes payable | 8,450,000 | - | ||
| Cash paid as direct offering costs - convertibles note payable | (608,000) | - | ||
| Repayments of loans - related party | (824,859) | (1,527,899) | ||
| Repayments on notes payable - SBA government | (11,062) | (10,877) | ||
| Treasury shares repurchased (share buy-backs) | - | (631,967) | ||
| Net cash provided by financing activities | 10,534,564 | 22,483,508 | ||
| Net decrease in cash, cash equivalents and restricted cash | (10,777,178) | (1,831,671) | ||
| Cash, cash equivalents and restricted cash - beginning of year | 12,790,389 | 14,622,060 | ||
| Cash, cash equivalents and restricted cash - end of year | $2,013,211 | $12,790,389 | ||
| Supplemental disclosure of cash flow information | ||||
| Cash paid for interest | $245,855 | $470,208 | ||
| Cash paid for income tax | $ | - | $ | - |
| Supplemental disclosure of non-cash investing and financing activities | ||||
| Treasury stock reacquired in connection with convertible debt financing | $999,999 | $ | - | |
| Debt discount - convertible notes payable - original issue discount | $245,000 | $ | - | |
| Debt discount - convertible notes payable - issuance of common stock | $271,880 | $ | - | |
| Debt discount - convertible notes payable - issuance of warrants | $1,084,927 | $ | - | |
| Debt discount - convertible notes payable - stated interest | $215,600 | $ | - | |
| Debt discount - note payable - issuance of warrants | $48,418 | $ | - | |
| Stock issued in settlement of accounts payable | $65,456 | $ | - | |
| Reclassification of accrued interest - related party to note payable - related party | $ | - | $498,991 | |
| Exercise of warrants - cashless | $ | - | $41 | |
| Termination of ROU operating lease assets and liabilities | $ | - | $327,139 | |
| Right-of-use asset obtained in exchange for new operating lease liability | $ | - | $664,288 | |
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