On January 4, 2016, Michael D. Tofias announced his intention to make recommendations to Surge Components Inc.'s management and/or board of directors with the goal of enhancing stockholder value and the income-paying capacity of the common stock generally, through operational efficiencies, corporate finance strategies, cost containment, and corporate governance initiatives. Michael D. Tofias also recommend strategic initiatives, such as capital structure and balance sheet restructurings or a sale, merger, acquisition, or other transaction. Further, Michael D. Tofias stated that he might seek representation on the Company's board by Michael D. Tofias and/or other stockholders, the removal of anti-takeover mechanisms, the rescission of executives' golden parachutes, changes in the Company's management and board of directors, and incorporation of the Company in a different state.

Furthermore, Michael D. Tofias stated that he supports exploring the sale of some or all of the business to a strategic buyer that may benefit the company by reducing overlapping boards and management, if it results in creating and realizing value for stockholders.