SurgePays Forms Redline Wireless Joint Venture

SurgePays, Inc. (NASDAQ: SURG) announced the formation of Redline Wireless Group, LLC, a Wyoming limited liability company, as a joint venture with one of the largest wireless master distribution organizations in the United States. The joint venture combines SurgePays' MVNO infrastructure, including the LinkUp Mobile brand, billing and provisioning systems, customer service, and operations center, with the Contributing Member's national independent dealer prepaid wireless distribution channel, which has an executed dealer agreement footprint of more than 20,000 active independent prepaid wireless dealers. Redline is owned 51% by SurgePays, as controlling and managing member, and 49% by the Contributing Member. SurgePays intends to consolidate Redline as a majority-owned controlled subsidiary. The joint venture is expected to be cash flow positive in its first month of operations, and both parties share the goal of reaching more than 1 million subscribers in the coming years. SurgePays' CEO Brian Cox (actor) stated that even conservative internal models show Redline generating more revenue and profit by month 18 than any prior SurgePays subsidiary.