SusGlobal Energy Corp. Files Q1 2024 10-Q Report

TL;DR

**SusGlobal Energy Corp. Q1 2024 10-Q filed. Financials and operations detailed.**

AI Summary

SusGlobal Energy Corp. filed its Q1 2024 10-Q report, ending March 31, 2024. The company's financial performance for the first quarter of 2024 is detailed, with comparisons to the same period in 2023. Key financial metrics and operational updates are provided, reflecting the company's ongoing activities in the energy and refuse systems sector.

Why It Matters

This filing provides investors and stakeholders with a quarterly update on SusGlobal Energy Corp.'s financial health and operational performance, crucial for understanding the company's trajectory in the renewable energy sector.

Risk Assessment

Risk Level: medium — The filing indicates customer concentration risk, with three customers accounting for a significant portion of sales revenue, which can pose a risk to financial stability.

Key Numbers

• Q1 2024 — Reporting Period (The first quarter of 2024, ending March 31, 2024.)
• Q1 2023 — Comparative Period (The first quarter of 2023, ending March 31, 2023.)

Key Players & Entities

• SusGlobal Energy Corp. (company) — Filer of the 10-Q report
• 20240331 (date) — End of the reporting period for the 10-Q
• 2023-03-31 (date) — End of the comparative reporting period
• 0001652539 (company) — Central Index Key for SusGlobal Energy Corp.

FAQ

Key Financial Figures

• $ — e Company's functional currency is the C$, the Company realizes a portion of its

Filing Documents

• form10q.htm (10-Q) — 982KB
• exhibit4-1.htm (EX-4.1) — 10KB
• exhibit31-1.htm (EX-31.1) — 7KB
• exhibit31-2.htm (EX-31.2) — 7KB
• exhibit32-1.htm (EX-32.1) — 4KB
• exhibit4-1xu001.jpg (GRAPHIC) — 3KB
• exhibit4-1xu002.jpg (GRAPHIC) — 3KB
• form10qxz001.jpg (GRAPHIC) — 3KB
• form10qxz002.jpg (GRAPHIC) — 36KB
• form10qxz003.jpg (GRAPHIC) — 3KB
• 0001062993-24-012177.txt ( ) — 7882KB
• susg-20240331.xsd (EX-101.SCH) — 155KB
• susg-20240331_cal.xml (EX-101.CAL) — 48KB
• susg-20240331_def.xml (EX-101.DEF) — 361KB
• susg-20240331_lab.xml (EX-101.LAB) — 1667KB
• susg-20240331_pre.xml (EX-101.PRE) — 493KB
• form10q_htm.xml (XML) — 722KB

FINANCIAL INFORMATION

Part I FINANCIAL INFORMATION

Financial Statements 4

Item 1 Financial Statements 4

Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk 37

Item 3 Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures 37

Item 4 Controls and Procedures 37

OTHER INFORMATION 37

Part II OTHER INFORMATION 37

Legal Proceedings 37

Item 1 Legal Proceedings 37

Risk Factors 38

Item 1A Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds 38

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities 38

Item 3 Defaults Upon Senior Securities 38

Mine Safety Disclosures 38

Item 4 Mine Safety Disclosures 38

Other Information 38

Item 5 Other Information 38

Exhibits 38

Item 6 Exhibits 38 3 SUSGLOBAL ENERGY CORP. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2024 and 2023 (Expressed in United States Dollars) (unaudited) CONTENTS Interim Condensed Consolidated Balance Sheets 5 Interim Condensed Consolidated Statements of Operations and Comprehensive Loss 6 Interim Condensed Consolidated Statements of Stockholders' Deficiency 7 Interim Condensed Consolidated Statements of Cash Flows 8 Notes to the Interim Condensed Consolidated Financial Statements 9-24 4 SusGlobal Energy Corp. Interim Condensed Consolidated Balance Sheets As at March 31, 2024 and December 31, 2023 (Expressed in United States Dollars) (unaudited) March 31, 2024 December 31, 2023 ASSETS Current Assets Cash $ 222 $ 1,263 Trade receivables 2,725 55,579 Government remittances receivable 22,960 41,330 Prepaid expenses and deposits (note 6) 244,526 335,368 Total Current Assets 270,433 433,540 Long-lived Assets, net (note 7) 10,972,445 11,322,363 Long-Term Assets 10,972,445 11,322,363 Total Assets $ 11,242,878 $ 11,755,903 LIABILITIES AND STOCKHOLDERS' DEFICIENCY Current Liabilities Accounts payable (note 8) $ 4,346,628 $ 3,960,270 Government remittances payable 433,169 473,691 Accrued liabilities (notes 8, 9, 10 and 13) 5,935,046 5,942,684 Current portion of long-term debt (note 9) 9,115,035 9,371,941 Current portion of obligations under capital lease (note 10) 59,592 66,037 Convertible promissory notes (note 11)-in default 10,653,510 10,519,824 Loans payable to related parties (note 13) 730,390 489,516 Total Current Liabilities 31,273,370 30,823,963 Stockholders' Deficiency Preferred stock, $ .0001 par value, 10,000,000 authorized, none issued and outstanding Common stock, $ .0001 par value, 150,000,000 authorized, 125,332,019 (2023- 125,272,975 ) shares issued and outstanding (note 14) 12,537 12,531 Addit

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View this 10-Q filing on SEC EDGAR