Susglobal Energy Corp (PK) (SNRG)

Marc's late with the 10K as usual so filed an extension notice a couple of days ago. It says that he won't be able to file by April 15th because of his "inability to fund the commencement of the audit".

I think that probably means the audit process hasn't even started yet because he's got no cash to pay for it. Last year it took until the middle of May to get it filed.

I thought the Hamilton properties may have been sold because the original listing was pulled but it looks like they are back on the market for $12.5 million, which seems high to me. I know with all the pressing debt Marc is trying to squeeze everything he can out of the sale but it's been on the market for a year and a half with no takers. Maybe he'll get lucky but no matter what he sells it for, his creditors will be ready with their hands out.

https://www.realtor.ca/real-estate/29445490/490-520-nash-road-hamilton-nashdale

Any updates at all?

The news is that, according to the 10Q, Marc got a conditional offer to buy the Hamilton properties. What conditions need to be satisfied to finalize the sale...who knows. If it requires putting money into the unfinished renovations on the dilapidated building then Marc will have to somehow come up with that money. He is creative so maybe he can find it.

Debt continues to increase and now all of the $9.5 million in mortgages are past due. The $2 million dollar lawsuit brought by the Hamilton contractor got another extension, the third or fourth one, until March so I guess the contractor is waiting to see if the building sale will happen. I imagine that they are first in line for a payout if the sale happens. Then however much debt can be paid with what's left. Belleville is still not operational because clearing up its environmental problems requires money.

Anything going on here.  Havent heard anything recently.  Whats the updated plan here

I always assume that share price jumps are a result of Marc whispering to folks behind the scenes. We'll see if anything materializes.

lol whens the next fake Ass run here going to be? whats it going to be this time? they found a new source of energy but they need to harvest it correctly and it might take up to 3000 years?

Wonder what's up with today's volume.

And Marc bought another 2.5 million shares last week.

10Q has been filed.

What's new:

Confirmation of Stock Sumo's info that Hamilton is not for sale and hasn't been on the market since the end of February. That probably should have been in the 10K but it doesn't really matter I guess.

The due date on the $2 million owed to the Hamilton contractor has been pushed back for a second time from May 29 to August 15.

Somehow Marc got the holder of the Belleville mortgage to pony up the funds to pay the city for the back payroll and sales taxes the company owes.

In my opinion Marc's true talent is juggling debt and finding creative ways to keep creditors at bay. I don't know how he does it, he's a wizard. Maybe he should give up the circular economy idea and pivot the business to debt relief consulting.

Yeah last year it was filed on the 7th but I believe Marc needs to file before the 30th to preserve OTCQB status so it could happen soon or still take some time.

Thought we might get the 10Q today

https://feeds.issuerdirect.com/news-release.html?newsid=6504792769838555

Not huge but something

Marc bought another $50k worth of stock through his other company, Travellers: https://www.sec.gov/Archives/edgar/data/1652539/000106299325009642/xslF345X05/form4.xml

He also unsurprisingly filed a notice that the 10Q will be late. It included a statement that just in the last month and a half another $180k has been added to the amount of costs incurred by Belleville. Not sure how much exactly it will take to get Belleville operational again but the costs associated with the property since it was shut down in early 2024 have to be close to $1.5 million. The truly crazy part is that the company has $5.25 million in 3 past due mortgages to 3 different creditors and each mortgage is secured by Belleville.

https://www.sec.gov/Archives/edgar/data/1652539/000106299325009573/formnt10q.htm

There's always something going on.

I'd love to see Susglobal wildly succeed for all you folks still invested, you definitely deserve better, but the company is where it is now and the 10K reflects that. It's about as ugly of a filing as I've ever seen with Marc being $33 million in debt and the debt continuing to pile up, interest payments last year were $1.2 million and should be higher this year. Plus more stuff keeps accumulating, like another $531k two months ago because the sales and payroll taxes for Belleville weren't paid correctly over the years.

I could go on and on but it's all there in the 10K for everybody to see. The one thing not mentioned in the 10K is the RNG offtake agreement so was a binding agreement ever signed for that deal...who knows.

And as for the Hamilton sale, maybe Stock Sumo has correct info in saying that it has been removed from the market, the MLS listing is gone, but the 10K does not state that the plan to sell the properties has been changed and the subsequent events section says that info is up to date as of the date of the filing May 14, and its still listed by Colliers. Maybe the upcoming 10Q will clear it up.

The final thing is that the extension on the $2 million owed to the Hamilton contractor comes due May 29 so we'll see whether that court date gets pushed back again from next month with another extension or if the contractor has had enough.

Valid points, keeping my fingers crossed Marc pulls off some miraculous financing and saves SNRG from falling into the abyss. I think we are all invested in the stock thats the only reason why we continue to remain optimistic.

Thanks for the info. I was just watching the Colliers website which I guess has not been updated as the listing is still shown.

In addition to being almost twice the size, the property adjacent to Susglobal Hamilton does have 3 finished buildings currently occupied by commercial tenants so that adds value compared with the dilapidated state of Marc's building. If Susglobal could sell its combined properties for $10 million, that would be a big win in my opinion but it's also important to remember that price is in CAD and Susglobal's debt is primarily reported in USD and was well over $10 million USD as of the last 10Q when lawsuits are figured in, not including notes in default.

I never doubt that Marc is working hard and he never runs out of new schemes but the debt can't linger forever and the vast majority of it is way past due at this point. We'll see what the 10k has to say in a couple of days. So far the plan has been Oak Hill, green bonds and selling Hamilton but nothing has brought in cash to at least pay down a good portion of debt yet. Maybe he can still leverage the offtake agreement to raise money but that agreement has been in place for a year and a half and hasn't proved to be worthy collateral so far. It's fine to have plans but they don't matter if you can't execute on them.

Hamilton is no longer for sale, it was removed from the MLS and is no longer listed.

Meanwhile, the adjacent 10-acre property located east of SusGlobal’s 5.3-acre site is now on the market for $30 million, or $3 million per acre. This listing significantly enhances the perceived value of SusGlobal’s existing property.

Importantly, SusGlobal holds the ECA license. If the combined 15 acres were to be marketed together, the presence of this license would add substantial value to the opportunity.

There remains the possibility that SusGlobal could acquire the 10-acre parcel, as they still have an agreement in place with Enbridge.

Additionally, the City of Belleville has signed a service agreement that references an “operate and manage” with an established and well-resourced company. Their involvement suggests strong confidence in the project’s potential and feasibility. The coming weeks and months are likely to be very revealing in the future direction of SNRG. Just my take on everything!

Still waiting on the 10K.

Marc has until the end of May 16 to file and preserve OTCQB status. Last year he got it filed just before the deadline to keep from dropping down to the pink sheets.

The next court date for the $2.6 million CAD suit brought by the Hamilton contractor is 6/18. I'm sure the hope is that the Hamilton properties will sell before then but it's still on the market, likely because Marc is asking too much for it. He needs a ton of cash to cover past due bills as well as to get Belleville operational again.

If the properties don't sell the contractor may take possession of the Hamilton parcel with the building on it, or the trial date could be extended again to give Susglobal more time to potentially find a buyer. All the while interest payments are accruing on $9 million USD of past due mortgages.

What's really bad is that the Belleville property was used as collateral on a $4.2 million USD mortgage that went past due in June 2024 so there's the potential of losing Belleville too. If Marc has one elite skill it's finding ways to stave off creditors as long as possible but time will eventually run out if he can't find a bunch of money.

I'm sure the 10K will be very ugly, we'll see if it gives us anything new. The Q1 10Q will be due on the 16th as well but I expect that to be delayed too. Last year it wasn't filed until the first week in June.

No. The last press release indicated he had signed an agreement for construction to begin. Maybe it is complete bs. I was just saying if a construction would sign it they'd want to see proof of funds

Did I miss something? Is there word of construction starting?

So any news updates or thoughts.

How would a construction firm commit to this without seeing funds or proof of the ability to pay.

Plus the debt holders are likely closing in on him.

The request for an extension was filed:

https://www.sec.gov/Archives/edgar/data/1652539/000106299325006648/formnt10k.htm

So that allows for an extra 15 days (I was wrong in stating 5 in my last post) but he can take longer without being penalized because OTC regulations around noncompliance aren't as strict as with exchanges.

The deadline for the 10K was yesterday but it looks like another year of Marc being late. It's a tradition.

Maybe we'll see the 10K today but more likely he'll file an NT 10K requesting an extension, something he's done for each of the last 4 years. NT 10K's are supposed to only grant an extra 5 days to file but last year's filing stated that it should take another couple of weeks and it actually took him a month and a half to finally get the 10K filed.

When are 8k filings due for otc traded biz?

The saga continues...

Looks like Marc got the trial scheduling date moved for the second time. Now it's June 18th. It seems like the contractor has given him longer to try to sell the property, maybe because the contractor thinks the two parcels will more likely sell bundled together and a win in court would break them up. For whatever reason it looks like Marc probably has another 3 months to try to get it all sold.

Thanks brotha,

Very interesting to see what happens next.

With Ontario cases you can't see the actual complaint online but you can follow proceedings at the Ontario Justice site. Here's the court case lookup page where you can follow all the proceedings but you'll have to create an account:

https://www.justiceservices.jus.gov.on.ca/MyAccount/screens/CaseLookup/CSLKUP001.xhtml

The case that had the trial scheduling date yesterday is CV22000803720000 for $2,590,977.66. Not sure what happened because it has not been updated at the time I'm posting this. You'll see that Susglobal is listed as not being represented by an attorney. What's a little confusing is that there is another suit listed filed by Gillam that does show an attorney for Susglobal but that case has shown no activity recently. CV22000803720000 may have superseded it, I'm not sure.

And remember that the suit filed in the US by one of the convertible noteholders was settled with a default judgement last year because Marc couldn't pay for an attorney to fight it. So Susglobal still owes $2.9 million for that.

Does anyone have a link to the lawsuit?

One of the things that's kept me so interested in the company over the years is how he can both seem very reasonable and at times delusional. The reasonable part has led him to relationships with solid businesspeople like Bruce who weren't able to pick the unrealistic comments out of Marc's legitimate business knowledge. I invest in a lot of small companies and learn more from stories like this than from successful companies.

He does have a felony conviction on his record from the 1990s. That's not necessarily something I would hold against a person because I do believe that people can have the ability to change their lives or could have just got caught up in bad circumstances but Marc's case wasn't for a barfight or something like that, it was business-related: him and his brother were convicted of extorting their victim to gain use of a catering license.

Insane. That isn't an embellishment. That's a flat out lie.

Good points. Thanks. He believes his own lies it seems or is a little crazy. He isn't reasonable or "reason able" ....

I hope this works out but be very careful assuming anything when it comes to Marc.

I could give you multiple examples but this one is classic. At about the 2:20 mark of this video from late September 2021 he says, "now we're starting to process organic waste from the City of Montreal". That was absolutely not true.



At the time it made no sense to me because why would Montreal truck waste hundreds of kilometers to Belleville? All the fuel needed to do that would negate any carbon emissions saved by not landfilling waste.

So I contacted the City of Montreal and they told me that they were not sending waste to Susglobal and that all of their diverted waste was being handled locally. When I told Marc what I'd learned, he admitted that he hadn't been truthful and walked back the statement in a later video. I sold my small position then for a tiny profit and have just traded the stock a little since, I've never re-invested in the company.

He stretches the truth and talks about things that haven't happened as having already happened. Not always, things he's promised at times have been true, but he's definitely shown himself to be very unreliable.

Seems like the only logical solution is he believes the Hamilton property is sold

Issuing a press release that strongly is misleading.

Plus, no company would agree to finish the construction unless they believe the company had funds and could do due diligence to see that snrg could make the payments.

I'm not saying it's a done deal. But why do the press release unless the funding is secured. Then again maybe he is doing 420...funding secured ;)

As the press release says, the local government will have to be satisfied that Belleville once again meets environmental regulations. It's been shut down for more than a year for noncompliance. Susglobal also owed the city $96k, which it may have defaulted on because the terms of that settlement included Hamilton being sold by the end of January, which didn't happen. Maybe that's been paid, the 10K will tell, but if not, that's a hurdle.

Marc also owes $370k to the power company that serves Belleville and $168k to an environmental contractor for work done at Belleville so I presume those bills will need to be paid as well before Belleville is operational again. As of the last 10Q there was a construction lien on the property as a result of unpaid bills.

If all of that is done, and it'll take money, what's the plan for Belleville? Is it just compost? That hasn't been lucrative so far even when credits were being generated. Is the waste transfer station still on the table or did that leave with Bruce? RNG may still be an option with the offtake but that will require tens of millions of dollars or more to construct.

I've got to hand it to Marc for always coming up with a plan but he's dug himself one helluva hole that could get deeper if the court case with the Hamilton contractor proceeds on Wednesday. As always, we shall see but he needs Hamilton to sell pronto and for a really good price.

So what are the thoughts everyone has?

SusGlobal Signs Service Agreement for Belleville Facilityhttps://www.otcmarkets.com/stock/SNRG/news/story?e&id=3176644


Newsfile Corp
Toronto, Ontario--(Newsfile Corp. - March 17, 2025) - SusGlobal Energy Corp. (OTCQB: SNRG) ("SusGlobal" or the "Company"), an environmental and renewables company, the developer of SusGro™, an award winning, revolutionary organic liquid fertilizer and Leaders in The Circular Economy® today announced that its wholly owned subsidiary, SusGlobal Energy Belleville Ltd. has signed a Service Agreement (the "Agreement") which provides for the overall rehabilitation to operational readiness of the Company's 49-acre Organic & Non-Hazardous Waste Processing & Composting Facility (the "Facility") in Belleville, Ontario. Once the Facility becomes operationally ready and all government orders have been fulfilled, SusGlobal will retain a third party to operate the Facility.

The Facility is listed on the GHG CleanProject® Registry, https://www.csaregistries.ca/GHG_VR_Listing/CleanProjectDetail?ProjectId=909, a business unit of the Standards Division of the Canadian Standards Association ("CSA") for developed and marketed greenhouse gas ("GHG") offset credits where the Company has marketed and sold Verified Emission Reductions and Removals ("VERRs"), as part of its Composting Offset Project in Ontario.

"We believe this agreement will lead to a high-quality return to revenue stream for the Company's Facility, with further carbon credit monetization at the Belleville site."

About SusGlobal

SusGlobal, the developer of SusGro™, a revolutionary pathogen-free organic liquid fertilizer is a renewables company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste-to-energy and regenerative products applications globally. It is management's objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider, as LEADERS IN THE CIRCULAR ECONOMY®. For more information, please visit the Company's website at: www.susglobalenergy.com.

Safe Harbor Statement

Happy St Patricks Day, lets see if SNRG wants to continue its deadcat bounce this week!

I've followed Marc for almost 5 years and long ago gave up trying to figure him out. He also put $120k into the company last October and the properties haven't sold since then.

I know that I've heard him lay out very reasonable plans for the company in presentations only to follow it up by saying something absolutely delusional. I've caught him in flat out lies before as well so I don't trust that anything's straightforward with him.

What I do know for sure is that the company owes $8 million in mortgage payments that are past due plus more than $3 million awarded by the courts to creditors last year as a result of lawsuits that Marc didn't fight, plus the $1.8 million owed to the contractor that has a trial scheduling date next week.

So the properties will have to sell for $13 million to cover past due bills. That's more than double what Susglobal paid for them. That's probably why they haven't sold, because Marc has no choice but to list them for a very high price. The price isn't shown on the listing so that's seems to fit with it being high. And all of this is just to get back to square one where the company will not own Hamilton anymore and Belleville will still probably be shut down for environmental concerns. And if the properties don't sell by the time the contractor's lawsuit is decided, the contractor will own the Hamilton property with the building on it.

So based on that do you think he has an agreement in place to sell one of the properties? Because he just put 120k in February. Not having an attorney would be insane considering his recent actions. I can't think of another plausible scenario but then again who knows

Watch the properties listed for sale and the Ontario Courts site.

Here are the properties not sold yet: https://www.collierscanada.com/en-ca/properties/industrial-land-building-available-for-sale/can-490-520-nash-road-north-hamilton/can2015924

There's a trial assignment date set for the 19th for $2+ million owed the Hamilton contractor. As of the most recent info, Marc does not have an attorney so if he doesn't fight in court and we see a default judgement, the contractor could own Hamilton and that would probably be game over for the company.

He's likely got to sell the properties to stave off losing in court. He was able to postpone the court date once, not sure if that's possible again.

Late February marc bought 120k usd worth of shares. So...maybe word is leaking out something is happening

Inched up yesterday and today on light volume. Seems like the sellers who drove the price down over the last year might be flushed out.

He also bought the same amount in September when he put the the combined Hamilton property on the market. My guess is that he still thinks he can sell it for enough to cover debt. I very much doubt that is possible but we'll see.

Marc was also able to convince the contractor he owes $2.6 million to for unpaid renovation bills to move their lawsuit trial date from last week to March 19. If that case goes to trial, he'll likely lose the Hamilton property with the building on it and that would probably be the final nail in the company's coffin.

So in the next month can he sell the property that has not sold in the 5 months it's been on the market and can he sell it for enough to cover all of the company's debt. That seems to to be the bet at this point. Marc doubled down but how much do you trust Marc's ability to make good financial decisions.

Marky Mark filed a Form4s the other day ... If he's buying... Maybe I should as well 

Time is running out to sell the combined Hamilton property.

No takers yet, it's still on the market and if it doesn't sell by the end of the week, the contractor that Susglobal owes $2.2 million to will likely start proceedings to take possession of the property with the building on it. Also, if Hamilton doesn't sell by Friday, Susglobal will be overdue for the $142k they owe to the City of Belleville for environmental cleanup costs.

man. this is definitely one of those stocks you dont even have to bash. It bashes ITSELF

yikes.

Read the 10Q.

They have more than $9 million in mortgages, all but one is overdue and that one will be overdue on Dec 15 because there's no way they'll be able to pay it. Plus there are millions of dollars in lawsuit judgements against them. So the company's toast unless they can find a sucker to seriously overpay for the rundown Hamilton property they have on the market. If they don't sell that by February they'll probably lose it and Belleville and the company should be officially toast. Stock could still go up because sometimes traders like bankruptcy plays but I wouldn't bet on it.

i ask again! is SNRG toast now?

Thanks. Had not seen that.