SurgePays, Inc. filed a Form 8-K on November 3, 2026, disclosing a Prepaid Wireless Purchase Commitment entered into with Zulie Venture Inc., doing business as Etime system, that requires at least $48,000,000 in prepaid wireless purchases over a twelve-month initial term.

Key Highlights

  • Agreement date: The Prepaid Wireless Purchase Commitment was entered into on September 30, 2026.
  • Counterparty: Zulie Venture Inc., a Texas corporation operating as Etime system and the CellPay brand, which serves more than 1,000 retail merchant locations nationwide.
  • Monthly minimum: Etime system committed to purchase at least $4,000,000 in prepaid wireless airtime, top-up, and refill transactions each calendar month.
  • Total initial-term commitment: At least $48,000,000 from October 1, 2026 through September 30, 2027.
  • Shortfall remedy: Any monthly shortfall must be made up through additional transactions completed by the end of the following calendar month, in addition to that month's minimum.
  • Auto-renewal: The agreement renews automatically for successive twelve-month terms at the same minimum purchase commitments unless either party provides written notice of nonrenewal at least thirty days before the end of the then-current term.
  • Revenue note: According to the filing, "the net revenue and gross profit the Company recognizes from that volume may be significantly lower than the volume amounts described in this Current Report."

SurgePays Discloses $48M Etime System Prepaid Wireless Commitment

SurgePays, Inc. (NASDAQ:SURG) disclosed a Prepaid Wireless Purchase Commitment with Zulie Venture Inc., which does business as Etime system and also operates the CellPay brand, according to the Form 8-K filed November 3, 2026. The agreement was signed on September 30, 2026, and transactions under it began in October 2026. Etime system operates a payments network serving more than 1,000 retail merchant locations nationwide, the filing stated.

Under the terms of the agreement, Etime system committed to purchase at least $4,000,000 per calendar month in prepaid wireless airtime, top-up, and refill transactions, measured at the transaction purchase price net of discounts, refunds, and reversals. Over the initial term running from October 1, 2026 through September 30, 2027, the total minimum commitment is at least $48,000,000. If Etime system falls short in any given month, the filing says it is required to make up the shortfall through additional prepaid wireless transactions by the end of the following calendar month, in addition to that month's own minimum.

Transactions are processed through SurgePays POS, described in the filing as the company's retail sales and payments business. The filing noted that the parties' existing written business agreements continue to govern their operational and commercial relationship. The company also included cautionary language, noting there is no assurance that Etime system will meet its committed monthly or annual volume, that the agreement will result in recurring volume, or that it will renew. These statements are the company's own forward-looking statements and are subject to its cautionary language as described in the filing.

What Was Disclosed

SurgePays filed an 8-K on November 3, 2026, announcing a Prepaid Wireless Purchase Commitment with Etime system requiring at least $4,000,000 per month and $48,000,000 over the initial term from October 1, 2026 through September 30, 2027, processed through SurgePays POS.