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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>All elements of SURG’s strategy in place. As we noted in our 1Q25 review, the most compelling takeaway from the quarter was SURG now has all the elements in place to execute its strategy, namely a deep bench of seasoned executives, a robust product portfolio, an attractive and growing distribution base, an integrated backend that can serve customers across all its products, and the financing that is critical to fund growth.</li><li>Going full throttle on the MVNE opportunity. On its earnings call, SURG disclosed that it had already integrated three Mobile Virtual Network Operators (MVNOs) and another two were in the onboarding process.</li><li>The company highlighted that these partners have “hundreds of thousands of subscribers” where the model is extremely attractive, with (1) recurring monthly revenue streams, (2) high margins, (3) low upfront costs, and (4) favorable cash flow dynamics</li></ul>

All elements of SURG’s strategy in place. As we noted in our 1Q25 review, the most compelling takeaway from the quarter was SURG now has all the elements in place to execute its strategy, namely a deep bench of seasoned executives, a robust product portfolio, an attractive and growing distribution base, an integrated backend that can serve customers across all its products, and the financing that is critical to fund growth.Going full throttle on the MVNE opportunity. On its earnings call, SURG disclosed that it had already integrated three Mobile Virtual Network Operators (MVNOs) and another two were in the onboarding process.The company highlighted that these partners have “hundreds of thousands of subscribers” where the model is extremely attractive, with (1) recurring monthly revenue streams, (2) high margins, (3) low upfront costs, and (4) favorable cash flow dynamics

SurgePays, Inc: MVNE Opportunity - Differentiated Offering, Attractive Economics