Quarterly ResultAug 13, 2026, 04:26 PM
SusGlobal Energy Q2 Net Income $1.81M; Asset Sale, Going Concern Doubts
AI Summary
SusGlobal Energy Corp. reported a net income of $1.81 million for the three months ended June 30, 2026, and $296,613 for the six months, a significant improvement from losses in the prior year, primarily driven by a $1.83 million gain on the sale of its Hamilton Facility and $1.19 million in debt forgiveness. Despite this, the company faces substantial doubt about its ability to continue as a going concern, citing a working capital deficit of $32.94 million and an accumulated deficit of $51.82 million. Several long-term debts and convertible promissory notes remain in default, and the Belleville facility ceased waste processing due to non-compliance issues.
Key Highlights
- Net income for Q2 2026 was $1,813,172.
- Net income for H1 2026 was $296,613, compared to a $2,701,149 loss in H1 2025.
- Sale of Hamilton Facility generated $7,636,026 in proceeds and a $1,829,626 gain.
- Accrued interest of $1,191,850 was forgiven on the sale of the Hamilton Facility.
- Working capital deficit stood at $32,937,502 as of June 30, 2026.
- Accumulated deficit was $51,819,958 as of June 30, 2026.
- Total liabilities decreased to $33,228,709 from $40,448,765.
- Multiple long-term debts and convertible promissory notes are in default.
Price Impact
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