Surge Logics Reports Record $2.98 Million in Sales for March 2020
Memphis, TN, April 22, 2020 (GLOBE NEWSWIRE) — Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Marketplace Network for convenience stores, bodegas and community markets that provide products to the underbanked, today reported record unaudited sales of $2.98 million for March 2020 within the Company’s wholly owned subsidiary Surge Logics, compared to approximately $1.35 million for February 2020 and $319,012 for March of 2019.
Carter Matzinger, President of Surge Logics, Inc. commented, “Since launching our proprietary Intake Logics software in the fourth quarter of last year we have seen an incredible increase in our efficiency and overall revenue. We are witnessing both sales growth within our existing client base, as well as the addition of new clients, many of which are referrals coming from existing clients. In March, we have added 20 new hires, 2 new reporting staff, and 18 agents to accommodate the increased volume of calls and leads. Additionally, we will be integrating with a medical records retrieval company to create additional automation within our Intake Logics CRM system to assist clients in obtaining better qualified cases and complete case packages.”
Anthony Nuzzo, President & COO of Surge Holdings, commented, “We achieved another month of record shattering revenue within our Surge Logics subsidiary with revenue increasing 121% sequentially, and over nine-fold versus the same period last year. I attribute this success to the exceptional execution of the Surge Logics team combined with our 2019 investment into developing the Intake Logistics CRM software. Another key factor was our investment into the expansion of CenterCom Global BPO. This revenue increase demonstrates the positive impact of CenterCom Global, our bi-lingual BPO, on our ongoing operations. We believe CenterCom Global provides Surge a true competitive advantage not only within Surge Logics but across all Surge Wireless and SurgePays™ Marketplace operations. This is an extremely exciting time for Surge Holdings as we have completed our core product development in all areas of the Company and are fully focused on executing and increasing revenues.”
The Peck Company Holdings and GreenBond Advisors Form Strategic Green Bond Partnership to Align Capital for Construction of New Solar Projects
The Peck Company Holdings, Inc. (NASDAQ: PECK) (the “Company” or “Peck”), a leading commercial solar engineering, procurement and construction (EPC) company, is pleased to announce a new investment partnership designed to increase Peck’s access to capital for the construction of new solar projects and to scale its existing pipeline of new EPC business. Peck has partnered with GreenSeed Investors LLC and its affiliate GreenBond Advisors LLC to gain access to the rapidly growing Green Bond segment of the fixed income markets. Of note, this partnership provides Peck with access to project growth capital through additional EPC contract work from Green Bond proceeds while improving working capital and strengthening liquidity ratios.
The world is transitioning to renewable energy. For this transition to occur, new renewable energy infrastructure must be built. Green Bonds are the financial instruments focused on financing this transition, directing investor capital to the projects that are building this new infrastructure and delivering competitive returns to investors in the process.
The Peck Company Holdings Chief Executive Officer, Jeffrey Peck, commented, “We are so pleased to announce this partnership on the 50th anniversary of Earth Day. We believe we are in the early innings of a renewable energy revolution. Over the next 50 years, we will help lead the transition to our renewable energy independence. By partnering with GreenBond Advisors and their affiliate companies, Peck will be able to tap the rapidly expanding Green Bond market for dedicated resources to fuel our organic growth and solar project acquisition strategy on a scale that far exceeds Peck’s current balance sheet capability. Now developers working with Peck can secure a pipeline of projects knowing that Peck can bring both the construction expertise and the capital with a certainty of funding that is required for rapid growth. Our shareholders should also recognize that this strategic partnership with Green Bond Advisors will support Peck’s growth with an additional source of revenue through EPC contract work while continuing to improve our working capital and strengthening our liquidity ratios.”
William Dale, Chief Executive Officer of GreenBond Advisors LLC, commented, “In times of uncertainty, it’s good to remember that the sun will still shine, and that we’ll always need electricity. Green Bonds provide stable, secure investments that create jobs, strengthen America’s power infrastructure and ensure a cleaner, healthier environment for our communities. By partnering with Peck, we get an early look at the best solar projects in the market. These solar project assets are the backbone of our Green Bonds allowing us to provide stable, long-term competitive yields to our Green Bond investors. We believe that combining Green Bond financing directly with the construction capabilities of Peck offers a unique advantage as we transition our economy to renewable energy.”
Green Bonds are any type of bond instrument where the proceeds will be exclusively applied to eligible environmental projects and whose structure is aligned with the International Capital Markets Association’s “Green Bond Principals”. They are regulated instruments subject to the same capital market and financial regulation as other fixed income securities. Swedish investment bank SEB, underwriter of the first Green Bond in 2008, has forecast the Green Bond market will exceed $1 Trillion by the end of Q4 2020. Demand for these investment vehicles is significantly higher than what is currently available, resulting in repeated over-subscription for new Green Bonds and making Green Bonds an ideal vehicle for raising capital in the renewable energy sector.
GreenBond Advisors was recently formed to deliver financial product innovation into the Green Bond market. They have created a new Green Bond product that allows risk-adverse investment capital to be more easily directed into new green energy infrastructure development at an earlier stage of the project development cycle than is typically the case for existing Green Bonds. This innovation by Green Bond Advisors will provide Peck with a strategic advantage in the marketplace as an EPC company, because Peck can bring a level of funding certainty to developers for early stage projects that will meet the project performance criteria.
SAExploration Announces New Project in Greece
HOUSTON, April 21, 2020 (GLOBE NEWSWIRE) — SAExploration Holdings, Inc. (“SAE”) (NASDAQ: SAEX, OTCQB: SXPLW) today announced the award of a new land seismic acquisition contract in Greece. The project is valued at approximately $27 million and is expected to begin as soon as practical following the lifting of COVID-19 related travel restrictions in Greece. The program is expected to take 90-120 days to complete once field operations have begun. We are unable to predict when the COVID-19 related travel restrictions in Greece will be lifted or that other COVID-19 related restrictions will not be imposed, and when the project will commence.