Susglobal Energy Corp (QB) (SNRG) Noticias

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 CV22000803720000 may have superseded it, I'm not sure.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.

so does that mean this stock is toast? tia

Susglobal filed an 8k on Friday that included an email from Bruce to the Board tendering his resignation effective the date in September that the vote to oust him happened. He still claims that Marc's move was not legal but essentially says screw it, I've had enough of this circus.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1652539/000106299324019818/form8ka.htm

is this stock toast?

Pretty sure there are questions surrounding whether Bruce’s removal from the BOD actually conformed with Corporate Bylaws. You’ll notice Bruce still lists himself as a member of the BOD on his LinkedIn page.

Daaaaaaamn! I almost bought this POS today. Oh well

We've discussed it because it's been an ongoing saga.

Marc's reasons for dumping Bruce were shady and he was able to assemble a cabal of votes that allowed him to vote Bruce out without calling a shareholders' meeting, which was also shady. Bruce fought back but I guess he had enough and realized there probably wasn't much left to salvage, so now he's moved on. Too bad because he was the competent one among management although his expertise is in operations not finances. My guess is still that Marc went after Bruce because Bruce wanted a new CEO and that's why Marc pushed so hard to get him out.

Now Marc is undisputed king again, which can't be good for shareholders. He'll probably continue to take what little he can from the company then eventually leave whatever's left to creditors like he did with his last company, Silver Dragon Resources.

is Bruce getting his butt booted a good or a bad thing yawl?

NOBODY here has ANYTHING to say about Bruce just getting his ass kicked out of the company?

lol. ok THIS is going to .000s. sad

The reality of the situation is that both Hamilton properties are up for sale and if those don't sell within a certain time frame or don't sell for enough, Belleville could be lost too because it's been pledged as security for $5.3 million in overdue mortgages. I'm far from an expert in dealing with creditors but I know this can only be dragged out for so long before the walls cave in. Maybe the Hamilton properties will be sold for $15 million tomorrow (I really doubt that will happen but it could) and the company will have something of a chance but bills and lawsuits have piled up over and over and they all eventually have to be dealt with.

Never said it was good for SNRG however its a similar business model which shows that another company is willing to pay BIG MONEY for a new facility. Its nice to see a high valued comparable in the same sector as SNRG so take that for what its worth. Yes SNRG is riddled with debt and they are currently inoperable due to issues earlier this year however they still have assets including properties and licenses that are worth something. Although the outlook is very week judging by the stock performance from this past year you don't hear me complaining or whining about making a bad investment. I too am upside down on my position however I haven't given up or lost all hope. I'm still hanging around you just don't see me posting often or bashing the company. I have more productive things to do with my time.

So? How is that good for snrg

Well now we know why Bruce couldn't get anywhere with Veolia, they just opened a $169 Million dollar facility in Montreal that can process 50,000 tonnes of yard waste and food scraps a year and will produce up to 20,000 tonnes of high-grade compost each year.

Link to article

so whens the big BS new news P and D going to come? eta?

Not sure why I waited, but just read latest 10Q. Company is toast.

SNRG right from 10Q Convertible promissory notes (note 11)-in default 11,643,185 10,519,824

Total Current Liabilities 33,164,982 30,823,963

Anew was created by a merger between Bluesource and another company so they inherited the contract Susglobal has with Bluesource for Belleville credits:

https://finance.yahoo.com/news/susglobal-signs-offset-development-marketing-130000563.html

Would help if Belleville was actually operational but at least Marc got to put out a press release a few weeks ago announcing maybe $60,000 (my guess) worth of residual credit sales.

Anyone know how Anew Climate LLC is related to SNRG?

you still like SNRG after ALL the sh.t that has transpired?

whoops guess not

It seems extremely likely to me that Bruce wants Marc out and Bruce seemingly questioning whether there was something shady or not with regards to debt Susglobal started taking out a year ago makes it appear that he may have a way to give Marc the boot. Or at least that he thinks so. And I guess he sees something salvageable in the company if Marc were gone.

If he wanted more ammo against Marc, he could start with the way Marc has consistently provided non-public info to shareholders over the years and failed until Q1 of this year to disclose legal actions against the company in filings. Marc got slapped by OTC Markets at one point but IMO he's lucky that he's never drawn the scrutiny of the SEC.

Not surprised at all except for the fact he wants to remain on the BOD.

We hear from Bruce.

The 8k filed 10/3 has now been updated with a letter from Bruce (and his attorneys). The letter demands that it be filed with an amended 8k so Marc had no choice but to make it public.

Bruce says:

The secret shareholders meeting that was used to oust him was not legal under the section of Delaware law Marc stated in the 8k and that it did not comply with the company's bylaws due to technicalities about signatures and dates signed.

That he was never asked by Marc or the Board to facilitate a hook up with Veolia but he did it anyway and Veolia and "one of its international partners determined SusGlobal was not a suitable development partner".

He wasn't the only Board member who didn't chip in cash to help pay for the costs around filings but was singled out for not doing so.

He also questions the sources of debt financings Marc came up with from Q4 last year through Q2 this year and what the money was used for. Not sure if that refers to loans from Marc's company Traveller's International or mortgages but it sounds like it could be serious. Bruce says that information about these debt financings was not provided to the Board when requested.

So Bruce is not taking this lying down.

His letter is linked at the bottom of this filing:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001652539/000106299324017693/form8ka.htm

Agree wholeheartedly. Normally, I’d be thrilled to see a CEO and majority shareholder drop $120k for more shares. Not so much here given the track record.

You probably saw that Marc bought $120k worth of shares in a recent placement, which seems to have been to help pay the accountant bills for the 10K and 10Q.

So the plan now is to hopefully sell the Hamilton properties for at least the $9 million in mortgages owed, which seems to me could be possible but I wouldn't be surprised if it sold for a little less given the purchase price of the 2nd lot last year, the price per acre of other empty land in the area and the fact that the building is just a shell with some missing sides. Plus there's at least $8 million in pressing current debt listed in the 10Q in addition to the mortgages.

They could raise the authorized share amount to allow for more dilution with no problem given that Marc controls a majority of the shares so no shareholders' meeting and vote is needed but who is going to buy millions of dollars worth of shares considering the company's track record and of course Marc hates dilution, probably even more now that he owns around 20% of shares out.

Now he's left with just Belleville and will still need tens of millions of dollars to finance an RNG facility there. I'm sure he's got some kind of scheme but we've seen how successfully his schemes have worked out in the past.