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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The table below summarizes the estimated fair value of the assets acquired and the liabilities assumed at the effective acquisition date.

 Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed

Consideration
Cash		$	2,500,000
Fair value of consideration transferred			2,500,000
Recognized amounts of identifiable assets acquired and liabilities assumed:
Right-of-use operating lease			98,638
Total assets acquired			98,638
Right-of-use operating lease			98,638
Total liabilities assumed			98,638
Total identifiable net assets			-
Goodwill		$	2,500,000

Schedule of Receivables

Payments were scheduled as follows:

 Schedule of Receivables

For the Year Ended December 31,						In Default
2025			186,525	**		$	141,759
			186,525
Less: amount representing interest			(9,674	)
Total		$	176,851

On July 12, 2023, Notice of Default was provided by SurgePays, Inc. to Blue Skies Connections, LLC for failure to pay amounts due under that certain Promissory Note dated June 14, 2021 by Blue Skies Connections, LLC in favor of SurgePays, Inc. in the original principal amount of $176,851 (the “Note”). Pursuant to the terms of the Note, SurgePays, Inc. accelerated the amount due.

** At December 31, 2024, a total of $141,759 in payments were in default, which consisted of payments due totaling $52,227 related to the year ended December 31, 2023 and an additional $89,532 of payments which were due as of December 31, 2024.

Schedule of Marketable Securities

Marketable securities were as follows at December 31, 2024 and 2023, respectively.

 Schedule of Marketable Securities

		U.S. Treasury & Government
		Exchange Traded Funds
		Fixed Income
Balance - December 31, 2023		$	-
Purchases			10,000,000
Sales			(10,173,057	)
Realized gains			13,613
Dividends, interest, and other income			169,306
Fees/adjustments			(9,862	)
Balance - December 31, 2024		$	-

Schedule of Disaggregation of Revenue from Contracts with Customers

The following represents the Company’s disaggregation of revenues for the years ended December 31, 2024 and 2023:

 Schedule of Disaggregation of Revenue from Contracts with Customers

		For the Years Ended December 31,
		2024								2023
Revenue		Revenue				% of Revenues				Revenue				% of Revenues
Mobile Virtual Network Operators		$	43,450,244				71.37	%		$	118,577,920				86.46	%
Comprehensive Platform Services			17,419,088				28.61	%			11,341,183				8.27	%
Other Corporate Overhead			11,841				0.02	%			7,222,729				5.27	%
Total Revenues		$	60,881,173				100	%		$	137,141,832				100	%

Schedule of Investment

The following is a summary of our investment at December 31, 2024 and December 31, 2023:

 Schedule of Investment

Balance - December 31, 2022		$	354,206
Gain on investment in CenterCom			110,203
Balance - December 31, 2023			464,409
Gain on investment in CenterCom			33,864
Impairment loss - CenterCom			(498,273	)
Balance - December 31, 2024		$	-

Schedule of Marketing and Advertising Costs

The Company recognized marketing and advertising costs during the years ended December 31, 2024 and 2023, respectively, as follows:

 Schedule of Marketing and Advertising Costs

Years Ended December 31,
2024				2023
$	109,004			$	152,851

Schedule of Diluted Net Income (Loss) Per Share

The following potentially dilutive equity securities were outstanding as of December 31, 2024, and 2023:

 Schedule of Diluted Net Income (Loss) Per Share

		December 31, 2024				December 31, 2023
Warrants			96,000				5,574,253
Stock options			2,220,684				116,174
Total common stock equivalents			2,316,684				5,690,427

Schedule of Earnings per Share Basic and Diluted

The following table shows the computation of basic and diluted earnings per share for the years ended December 31, 2024 and 2023:

 Schedule of Earnings per Share Basic and Diluted

		Year Ended				Year Ended
		December 31, 2024				December 31, 2023
Numerator
Net income (loss) available to common stockholders		$	(45,729,224	)		$	20,617,903
Denominator
Weighted average shares outstanding - basic			19,119,181				14,258,172
Effect of dilutive securities			-				664,709
Weighted average shares outstanding - diluted			19,119,181				14,922,881
Earnings (loss) per share - basic		$	(2.39	)		$	1.45
Earnings (loss) per share - diluted		$	(2.39	)		$	1.38

Schedule of Related Party Expenses

During the years ended December 31, 2024 and 2023, respectively, the Company incurred expenses with a related party (annual rental agreement) in the normal course of business as follows:

 Schedule of Related Party Expenses

Related Party		December 31, 2024				December 31, 2023
Carddawg Investments, Inc.			166,356				166,356	1
Total		$	166,356			$	166,356

1 - represents an affiliate of our Chief Executive Officer (Kevin Brian Cox)

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