viewSurge Holdings, Inc.

Surge Holdings launches new Loco Rabbit brand ‘grab-n-go’ phone service

The Loco Rabbit preactivated phones include 30 days of service and come ready for 'off the rack' sales in high volume convenience stores

Surge Holdings, Inc. - Surge Holdings Inc launches proprietary new Loco Rabbit brand ‘grab-n-go’ phone service
CEO Brain Cox says Loco Rabbit service is an ideal solution during the coronavirus pandemic when most traditional wireless stores are closed

Surge Holdings Inc (OTCQB:SURG) announced Wednesday the launch of its proprietary new brand Loco Rabbit, offering value and convenience in a “grab-n-go” phone service.

The Loco Rabbit preactivated phones include 30 days of service and come ready for “off the rack” sales in high volume convenience stores at a starting retail price point of $39.99, the company said in a statement. 

The Grab-n-Go phones consist of a basic phone, starter Android and upgraded Android. All 3 packages will be distributed through SurgePays and the ECS Prepaid network of 10,000 stores in April 2020.

READ: Surge Holdings appoints Anthony Evers as chief financial officer

“We are particularly excited about this latest product launch already underway, which expands on our pre-paid suite of products,” said CEO Brian Cox. 

“Utilizing analytics from the millions of dollars of transactions over our networks, our team was able to determine the optimal plans, pricing and device costs. The packaging and branding turned out so well, that I look to see these phones in national chain stores in 2020. Importantly, the stores not only make money with the initial sale, they get additional foot traffic and profit every time the customer comes back each month to pay for their service.”

Cox pointed out that the Loco Rabbit and the prepaid wireless payment platform are an ideal solution during the current coronavirus (COVID-19) pandemic when most traditional wireless stores are closed. 

“There are approximately 100 million customers on pay-as-you-go plans who need to pay in person each month. Essential local corner stores, convenience stores, tiendas, bodegas and community markets remain open as they provide food, drinks and toiletries along with other products and services for the underbanked,” Cox said.

“These stores are near the neighborhoods where this consumer segment, representing 35% of the United States, lives. We realize this is a unique time with uncertainty, so we have taken the extra step of allowing for payments as low as $5 for 5 days of unlimited service.”

The Basic Loco Rabbit package includes a basic phone and 750 units mins/SMS for $39.99. The two additional phone packages are provided with unlimited text, 10 hours of talk and 100 MB data, with either a Starter Android smartphone at $54.99, or an Upgraded Android smartphone at $69.99. 

Monthly service for all three phone packages is provided using one of the nation’s leading wireless LTE networks. The Loco Rabbit phones are activated once customers turn on the device and provide 30 days of service. When a customer refills their account, they can choose from six different plan options.

Loco Rabbit phones can be ordered direct at https://locorabbit.com.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Surge Holdings, Inc.

Price: 0.225 USD

Market: OTCQB
Market Cap: $23.5 m

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