SusGlobal Energy Corp. Amends 2023 10-K Filing

TL;DR

SusGlobal Energy Corp. filed an amendment to its 2023 10-K. Check for updates.

AI Summary

SusGlobal Energy Corp. filed an amendment to its 2023 Form 10-K on December 19, 2024. The filing pertains to the fiscal year ending December 31, 2023. The company is involved in refuse systems and is incorporated in Delaware.

Why It Matters

This amendment provides updated or corrected information for the company's 2023 annual report, which is crucial for investors to have the most accurate financial and operational data.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous annual report and does not appear to introduce new material risks.

Key Numbers

• 2023 — Fiscal Year (The period covered by the amended 10-K filing.)
• 1231 — Fiscal Year End (The specific end date of the fiscal year reported.)

Key Players & Entities

• SusGlobal Energy Corp. (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 2024-12-19 (date) — Filing Date
• 4953 (other) — Standard Industrial Classification Code for Refuse Systems
• DE (other) — State of Incorporation

FAQ

Key Financial Figures

• $0.0001 — ) of the Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
• $0.30 — 9,118,211 based on the closing price of $0.30 per share of the registrant's common st
• $250 million — pany until (i) our public float exceeds $250 million on the last day of our second fiscal qu
• $100 million — l year (if our annual revenues exceeded $100 million in such prior fiscal year); or (ii) our
• $700 million — year); or (ii) our public float exceeds $700 million on the last day of our second fiscal qu
• $20.00 — yer will pay a purchase price of over US$20.00 (CA$27.00) per Metric Million British T
• $27.00 — ay a purchase price of over US$20.00 (CA$27.00) per Metric Million British Thermal Uni
• $138,000,000 — ar offtake agreement at approximately US$138,000,000 (CA$186,856,830). The Agreement is an i
• $186,856,830 — ment at approximately US$138,000,000 (CA$186,856,830). The Agreement is an industry standard
• $2,292,760 — e site in Hamilton, Ontario, Canada for $2,292,760 (C$3,100,000). Prior to completing the
• $3,100,000 — ilton, Ontario, Canada for $2,292,760 (C$3,100,000). Prior to completing the purchase, the
• $229,276 — purchase, the Company paid deposits of $229,276 (C$310,000) to the vendor. The balance
• $310,000 — the Company paid deposits of $229,276 (C$310,000) to the vendor. The balance of the purc
• $1,479,200 — the purchase price was satisfied with a $1,479,200 (C$2,000,000) vendor take-back mortgage
• $2,000,000 — price was satisfied with a $1,479,200 (C$2,000,000) vendor take-back mortgage bearing inte

Filing Documents

• form10ka.htm (10-K/A) — 1905KB
• exhibit31-1.htm (EX-31.1) — 8KB
• exhibit31-2.htm (EX-31.2) — 8KB
• exhibit32-1.htm (EX-32.1) — 2KB
• exhibit32-2.htm (EX-32.2) — 3KB
• form10kaxz001.jpg (GRAPHIC) — 41KB
• form10kaxz002.jpg (GRAPHIC) — 3KB
• 0001062993-24-020888.txt ( ) — 10303KB
• susg-20231231.xsd (EX-101.SCH) — 157KB
• susg-20231231_cal.xml (EX-101.CAL) — 52KB
• susg-20231231_def.xml (EX-101.DEF) — 378KB
• susg-20231231_lab.xml (EX-101.LAB) — 1658KB
• susg-20231231_pre.xml (EX-101.PRE) — 548KB
• form10ka_htm.xml (XML) — 1120KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 23 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety 24 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6.

Selected Financial Data (Reserved)

Selected Financial Data (Reserved) Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 32 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 65 Item 9A.

Controls and Procedures

Controls and Procedures 65 Item 9B. Other Information 65 PART III Item 10. Directors, Executive Officers and Corporate Governance 65 Item 11.

Executive Compensation

Executive Compensation 69 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70 Item 13. Certain Relationships and Related Transactions, and Director Independence 71 Item 14. Principal Accounting Fees and Services 72 PART IV Item 15. Exhibits, Financial Statement Schedules 72 3 PART 1 RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

Business

Item 1. Business. OVERVIEW The following organization chart sets forth our wholly owned subsidiaries: General On February 4, 2019, the Company registered its common stock, having a par value of $.0001 per share, pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and is effective pursuant to General Instruction A.(d). SusGlobal Energy Corp. ("SusGlobal") was formed by articles of amalgamation on December 3, 2014, in the Province of Ontario, Canada and its executive office is in Toronto, Ontario, Canada, at 200 Davenport Road. Our telephone number is 416-223-8500. Our website address is www.susglobalenergy.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K are all available, free of charge, on our website as soon as practicable after we file the reports with the Securities and Exchange Commission (the "SEC"). SusGlobal Energy Corp., a company in the start-up stages and Commandcredit Corp. ("Commandcredit"), an inactive Canadian public company, amalgamated to continue business under the name of SusGlobal Energy Corp. 4 On May 23, 2017, SusGlobal filed an Application for Authorization to continue in another Jurisdiction with the Ministry of Government Services in Ontario and a certificate of corporate domestication and certificate of incorporation with the Secretary of State of the State of Delaware under which it changed its jurisdiction of incorporation from Ontario to the State of Delaware (the "Domestication"). In connection with the Domestication each of the currently issued and outstanding common shares were automatically converted on a one-for-one basis into common shares compliant with the laws of the state of Delaware (the "Shares"). As a result of the Domestication, pursuant to Section 388 of the General Corporation Law of the State of Delaware (the "DGCL"), SusGlobal continued its existence under the DGCL as a corporation incorporated in the State of

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View this 10-K/A filing on SEC EDGAR