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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>Focus on diversifying the revenue base. As we discussed in our initiation of coverage, SURG has been actively working on diversifying the revenue base.</li><li>We see the company as four different startups—wireless MVNO/MVNE, Lifeline telecom services, prepaid top-ups, and Clearline Mobile—all focused on underserved communities with distribution through neighborhood stores and bodegas.</li><li>SURG’s differentiation is in how they all come together at the points of presence (PoPs), and yet, they represent different independent revenue streams.</li></ul>

Focus on diversifying the revenue base. As we discussed in our initiation of coverage, SURG has been actively working on diversifying the revenue base.We see the company as four different startups—wireless MVNO/MVNE, Lifeline telecom services, prepaid top-ups, and Clearline Mobile—all focused on underserved communities with distribution through neighborhood stores and bodegas.SURG’s differentiation is in how they all come together at the points of presence (PoPs), and yet, they represent different independent revenue streams.

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