Surge Holdings, Inc. Discusses Its 2020 Growth Strategy and Recent ECS Acquisition with CEO Brian Cox On The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - January 16, 2020) - The Stock Day Podcast welcomed Surge Holdings, Inc. (OTCQB: SURG) ("the Company"), developer of the SurgePays™ Marketplace Network for convenience stores, bodegas and community markets that provide products to the underbanked. CEO of the Company, Brian Cox, joined Stock Day host Everett Jolly.
Jolly began the interview by noting that the Company is in over 9,800 retail stores with the recent ECS acquisition, and has grown revenues from $15.2 million to $50 million over the last two years. Jolly also inquired about the significant market for this industry, noting that there are currently over 100 million prepaid cell phone customers in the United States. "What's interesting about the market of the pay-as-you-go cell phone industry is that there is a direct correlation to the underbanked in our country," explained Cox. "If you don't service the underbanked or provide products to the underbanked, you don't realize that it represents 35% of the population living in the United States," said Cox.
Jolly commented on the Company's game changing services, adding that they represent the potential of a "paradigm shift". He then asked about the Company's target market, as well as their core products and services. "The target market is actually the underbanked consumer," said Cox. "We're building relationships with corner stores, that's my metric, and that corner store becomes a sales person for Surge," he explained. "Our goal is to reach that underbanked consumer via that corner store."
The conversation then turned to the importance of the Company's acquisition of the ECS Prepaid Wireless Business and Software Platform. "What significance does ECS have with the vision of your company now?" asked Jolly. "ECS is a similar company to what SurgePays™ is, they have a software platform that enables corner stores to add credit to all of their customers' prepaid wireless companies," said Cox. He then explained that the Company offers corner store owners commission as an incentive for payments. "He's making money providing a service to these customers, while also increasing foot traffic," said Cox.
"With ECS, number one, we made the world a little bit smaller in our market because we bought a competitor. Number two, they've got about 10,000 locations that they are already profit partners with," shared Cox.
Jolly then asked about the Company's monetization strategy. "It's a transactional game, it's a volume transaction game," explained Cox. "The game changer for us is using this to build a relationship with the store and then upsell them add-on products," added Cox. "We have a lot of sales people that are going to be bringing on way more stores than ECS did alone. But even if it was just that 10,000, if we increase same store sales to simply $1,000 per store per month, we're talking about an additional $120 million in sales on higher margin products," said Cox.
"You just recently did a new press release for a $30 unlimited wireless plan," said Jolly. He then asked how the Company is able to offer such a low price point for this service. "We're the only wireless company that doesn't have to pay a third party software to do the transaction - we own it, we built it," explained Cox. "So, we have a tremendous competitive advantage," said Cox.
"It's the same exact networks, same exact equipment, nationwide coverage, LTE, everything you see on TV, but we're simply paying a wholesale price and we've got great margins," said Cox. "Our projections show us being profitable either by the end of the first quarter or about mid-second quarter," added Cox.
To close the interview, Cox expressed his confidence in the Company's unique monetization strategy. "I'd love for your listeners to keep an eye on us and watch us grow," said Cox. "Everything that we're gearing towards for 2020 is that revenue, quick scalability, and aggressive growth," closed Cox.
To hear Brian Cox's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7480071-surge-holdings-inc-discusses-its-2020-growth-strategy-and-recent-ecs-aquistion-with-ceo-brian-c
About Surge Holdings, Inc:
Surge Holdings, Inc. operates the SurgePays™ Marketplace, a product sales channel that disrupts the traditional c-store supply chain model by providing independent and local retailers direct access to regional manufacturers from around the country. Surge leverages its wholly owned subsidiaries (value driven prepaid wireless and fintech products) to build relationships with convenience stores, bodegas, tiendas and community markets that serve the underbanked and unbanked - approximately 35% of the US population. Once a store is onboarded to the SurgePays™ Marketplace, and the trusted profit partnership is established, Surge upsells other consumable goods by connecting manufacturers directly to these retail stores. The SurgePays™ Marketplace provides manufacturers measurable cost savings by cutting out distributors and offers an efficient platform to access independent retailers to sell products nationwide with improved payment terms. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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