BARTLETT, Tenn. and SCHAUMBURG, Ill., Aug. 17, 2021 (GLOBE NEWSWIRE) -- SurgePays, Inc. (OTCQB: SURG) (“SurgePays” or the “Company”), a blockchain financial technology company building a next generation supply chain network in the U.S. for convenience stores, mini-marts, tiendas, bodegas, gas stations and other merchants serving underbanked consumers, announces that Anthony P. Nuzzo, Jr., President of the Company and an experienced financial services executive, has been appointed Chief Executive Officer of the Company’s wholly owned subsidiary, LogicsIQ, Inc. (“LogicsIQ”), formerly SurgeLogics.
The executive move follows the Company’s May 2021 announcement to begin exploring the best possible options to deliver shareholder value by spinning-off or taking the LogicsIQ subsidiary public, as described in the Company’s Registration Statement on Form S-1 filed on August 2, 2021. Mr. Nuzzo will continue in his role at SurgePays during a transition period.
Mr. Nuzzo, who joined SurgePays in August 2017, is an accomplished financial services executive and entrepreneur with a successful track record as a CEO, CFO, and financial consultant. Over his career, he has built multiple companies named to Inc. 500’s list of fastest growing financial institutions. During his tenure at SurgePays, he led the development of LogicsIQ’s SaaS platform and oversaw the growth of the business.
LogicsIQ is a software-as-a-service (SaaS) customer relationship management (CRM) provider for enterprises. Its flagship CRM solution, Intake Logics, helps law firms to generate high quality sales leads while converting those leads into signed retained clients. In addition, LogicsIQ serves as a full-serve business process outsourcing (BPO) provider, providing a range of services like sales and contract processing, email and live chat support, social media management, and data processing and programming.
As CEO of LogicsIQ, Mr. Nuzzo will lead a seasoned executive team that fueled the business’s growth pre-pandemic and has a strategy to build future growth both organically and through acquisitions. LogicsIQ is positioning itself to become the top enterprise software solution provider for marketing business intelligence, client generation, case load management, and vertically integrated services for law firms and other industry verticals.
“Anthony has led LogicsIQ’s evolution from a lead generation business to a full-service software development enterprise and BPO provider with significant potential for future growth,” said Brian Cox, CEO of SurgePays. “He knows the business, and its software platform, and has the leadership skills, experience, and passion to propel its future growth and deliver shareholder value.”
“LogicsIQ is at a critical inflection point in its growth and future prospects,” said Mr. Nuzzo. “SurgePays has provided us with the capital, management, and resources to expand our portfolio of solutions and focus on business expansion.”
About SurgePays, Inc.
SurgePays, Inc. utilizes its blockchain software platform to offer a comprehensive suite of prepaid, financial services for the underbanked and top selling wholesale products to independently owned convenience stores, mini-marts, tiendas, and bodegas more cost efficiently than existing wholesale distribution models. Please visit www.SurgePays.com for more information.
SurgePays, Inc.
Company Contact:
Tony Evers CPA, CIA
Chief Financial Officer
847-648-7541
tevers@surgeholdings.com
Investor Relations Contact:
CORE IR
516-222-2560
invest@surgeholdings.com
Media Relations Contacts:
Henry Feintuch / Doug Wright
Feintuch Communications
914-548-6924 / 201-952-6033
surgepays@feintuchpr.com
Cautionary Note Regarding Forward-Looking Statements.
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; our predictions about our industry; the impact of the COVID-19 pandemic on our business and our ability to attract, retain and cross-sell to clients. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
