SusGlobal Energy Corp. Reports Second Quarter 2022 Financial Results
SusGlobal Energy Corp. Reports Second Quarter 2022 Financial Results
Toronto, Ontario--(Newsfile Corp. - August 24, 2022) - SusGlobal Energy Corp. (OTCQB: SNRG) ("SusGlobal") or (the "Company"), the developer of SusGro™, a revolutionary pathogen-free organic liquid fertilizer and LEADERS IN THE CIRCULAR ECONOMY®, today announced financial results for the second quarter ended June 30, 2022 and provided an update on its operational progress.
安大略省多伦多-(Newsfile Corp.-2022年8月24日)-SusGlobal Energy Corp.(OTCQB：SNRG)(“SusGlobal“)或(”公司“)，SusGro的开发者™，革命性的无菌有机液体肥料和循环经济领域的领导者®今天公布了截至2022年6月30日的第二季度财务业绩，并提供了运营进展的最新情况。
Recent Highlights
最近的亮点
On March 21, 2022, the Company received Building Permit No. 21 158028 00 I3 from the City of Hamilton Building Division and on March 29th the Company announced that its wholly-owned subsidiary, SusGlobal Energy Hamilton Ltd., commenced the development of its 51,535 square foot facility on 3.26 acres located at 520 Nash Road North, in Hamilton, Ontario, which includes an Environmental Compliance Approval ("ECA") to process up to 65,884 metric tonnes per annum of organic waste into regenerative products as part of the Company's circular economy model and continued climate change initiatives.
On June 28, 2022, the Company received Building Permit No. 21 165172 00 I3 from the City of Hamilton Building Division and on July 5th the Company announced that its wholly-owned subsidiary, SusGlobal Energy Hamilton Ltd., continues the development of its 51,535 square foot facility on 3.26 acres located at 520 Nash Road North, in Hamilton, Ontario, which includes an Environmental Compliance Approval ("ECA") to process up to 65,884 metric tonnes per annum of organic waste. Completion of the second facility is on track and slated for Q4, 2022. This facility is expected to generate, starting in 2023, an annual revenue run rate of US$105,192,000 (CA$135,000,000), based on 12,000 metric tonnes of organic waste processing or 18.5% of the ECA capacity in the first 12 months of processing.
On July 11, 2022, the Company announced that its wholly-owned subsidiary, SusGlobal Energy Belleville Ltd., completed a Verified Emission Reductions and Removals ("VERRs") report as part of the carbon credit development process for the Anew SusGlobal Belleville Composting Offset Project (the "Project"). This report has been submitted to the GHG CleanProjects® Registry, a business unit of the Standards Division of the Canadian Standards Association ("CSA"). This Project is part of the Offset Development and Marketing Agreement (the "Agreement") with Anew Canada ULC (formerly known as Blue Source Canada ULC) ("Anew Canada") for developed and marketed greenhouse gas ("GHG") offset credits from the Company's 49-acre Organic & Non-Hazardous Waste Processing & Composting Facility in Belleville, Ontario. The Agreement allows SusGlobal to monetize and realize benefits from voluntary emission reduction activities. Revenue from the monetization of the GHG offset credits is expected in Q3, 2022.
2022年3月21日，公司从汉密尔顿市建筑事业部获得建筑许可证编号21 158028 00 I3，并于3月29日这是该公司宣布，其全资子公司SusGlobal Energy Hamilton Ltd.开始开发其占地51,535平方英尺的设施，该设施位于安大略省汉密尔顿纳什路北520号，占地3.26英亩，其中包括环境合规批准(非洲经委会“)作为公司循环经济模式和持续的气候变化倡议的一部分，每年将高达65,884公吨的有机废物处理成再生产品。
2022年6月28日，公司从汉密尔顿市建筑事业部获得建筑许可证编号21 165172 00 I3，并于7月5日这是该公司宣布，其全资子公司SusGlobal Energy Hamilton Ltd.继续开发其占地51,535平方英尺的设施，该设施位于安大略省汉密尔顿纳什路北520号，占地3.26英亩，其中包括环境合规批准(非洲经委会“)每年处理多达65,884公吨的有机废物。第二个设施正在按计划完工，计划于2022年第四季度完工。预计从2023年开始，该设施将产生105,192,000美元(加元135,000,000加元)的年收入，这是基于前12个月处理12,000公吨有机废物或占ECA处理能力的18.5%计算的。
2022年7月11日，本公司宣布其全资子公司SusGlobal Energy Belleville Ltd.完成了经核实的减排和清除量(“VERR“)作为新的SusGlobal Belleville堆肥抵消项目碳信用发展进程的一部分的报告(”项目)。本报告已提交给温室气体清洁项目®注册处，该注册处是加拿大标准协会标准部的一个业务部门(环孢素A“)。本项目是抵销开发和营销协议(”协议“)与新加拿大ULC(前身为Blue Source Canada ULC)(”新加拿大“)开发和销售的温室气体(”温室气体“)抵消该公司位于安大略省贝尔维尔占地49英亩的有机和非危险废物处理和堆肥设施的信用额度。该协议允许SusGlobal从自愿减排活动中获利并实现收益。温室气体抵消信用信用额度的货币化收入预计将于2022年第三季度实现。
Revenue decreased by approximately 48% during the second quarter of 2022 to $110,143 compared to the second quarter of 2021 in the amount of $212,632, from decreased business as a result of changes in the customer base from the Company's organic waste processing and composting facility.
与2021年第二季度相比，2022年第二季度的收入下降了约48%，降至110,143美元，总额为212,632美元，这是由于公司的有机废物处理和堆肥设施的客户群发生变化导致业务减少所致。
"We continue to process municipal organic waste streams, diverting them from landfills, while producing regenerative products as part of our Circular Economy model. We have confidence in a revenue ramp up this year," said Marc Hazout, Executive Chairman, President and CEO of SusGlobal Energy Corp. "Our goal is to complete the acquisition strategy and have our second facility commence the commercialization of our proprietary organic liquid fertilizer in order to increase revenue and cash flow, maximizing shareholder value with an objective to up-list to a major exchange."
苏斯全球能源公司执行主席兼首席执行官马克·哈扎特表示：“我们继续处理城市有机废物流，将其从垃圾填埋场分流出去，同时生产可再生产品，作为我们循环经济模式的一部分。我们对今年的收入增长充满信心。”我们的目标是完成收购战略，并使我们的第二家工厂开始将我们专有的有机液体肥料商业化，以增加收入和现金流，最大化股东价值，目标是在一家主要交易所上市。“
Unaudited 2022 Second Quarter Financial Results
未经审计的2022年第二季度财务业绩
For the second quarter ended June 30, 2022, SusGlobal recorded:
在截至2022年6月30日的第二季度，SusGlobal记录如下：
- Revenue of $110,143.
- Cost of sales of $112,159.
- Operating expenses of $2,013,150, comprised primarily of $627,721 of marketing expenses, $360,433 of professional fees, $189,708 of interest expense, $177,379 of total management compensation, $166,275 of stock-based compensation and $131,239 of office and administration expenses.
- Net loss of $2,228,669, or $0.03 loss per share- basic and diluted.
- Included in the other (loss) income for the period was a charge of $4,488,323 on the revaluation of the convertible promissory notes and a gain of $4,274,820 on extinguishment of convertible promissory note.
- Adjusted EBITDA (a non-GAAP financial measure) loss of $1,450,178.
- $10,458,791 in total assets and $17,760,069 in total current liabilities at the end of the second quarter.
- 收入为110,143美元。
- 销售成本112,159美元。
- 业务费用2 013 150美元，主要包括627 721美元的营销费用、360 433美元的专业费用、189 708美元的利息支出、177 379美元的管理薪酬总额、166 275美元的股票薪酬以及131 239美元的办公室和行政费用。
- 净亏损2,228,669美元，或每股亏损0.03美元-基本和稀释后。
- 这一期间的其他(损失)收入包括可转换本票重估费用4 488 323美元和可转换本票清偿收益4 274 820美元。
- 调整后的EBITDA(非公认会计准则财务指标)亏损1,450,178美元。
- 第二季度末总资产为10 458 791美元，流动负债总额为17 760 069美元。
About SusGlobal Energy Corp.
关于SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, an award winning and revolutionary pathogen free organic liquid fertilizer, is an industrial, environmental and agricultural biotechnology company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative product applications globally. It is management's objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider and a trusted brand for the fertilizer, soil and aquaculture market, as LEADERS IN THE CIRCULAR ECONOMY®. For more information, please visit the Company's website at:
SusGro™是一种获奖的革命性无病原体有机液体肥料，其开发商SusGro Global Energy Corp.是一家工业、环境和农业生物技术公司，专注于在全球范围内收购、开发废物转化能源和可再生产品应用领域的一系列专利技术，并将其货币化。管理层的目标是将苏斯环球发展成为重要的可持续废物能源和再生产品供应商，以及化肥、土壤和水产养殖市场值得信赖的品牌，成为循环经济®的领导者。欲了解更多信息，请访问公司网站：
In accordance with SEC Regulation G, the non-GAAP measurements in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading "Interim Condensed Consolidated Reconciliation of Non-GAAP Information" in the financial table included in this press release.
根据美国证券交易委员会G规则，本新闻稿中的非公认会计准则计量已与最近的公认会计准则计量进行了核对，可在本新闻稿所包括的财务表格中“非公认会计准则信息的中期精简合并对账”标题下查看。
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's objectives. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, lack of sufficient financial resources; variations in market conditions, currency and our stock; the Company's ability to obtain any necessary permits, approvals, consents or authorizations required for its activities; the Company's ability to produce energy, biogas, compost or organic fertilizer from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's filings with the U.S. Securities and Exchange Commission, which may be viewed at www.sec.gov.
本新闻稿包含“1995年私人证券诉讼改革法”所指的“前瞻性陈述”，包括有关公司目标的陈述。前瞻性陈述是指不是历史事实的陈述，通常但并非总是由“预期”、“计划”、“预期”、“相信”、“打算”、“估计”、“项目”、“目标”、“潜在”、“目标”、“目标”、“预期”以及类似的表述，或事件或条件“将”、“将”、“可能”、“可能”、““可能”或“应该”发生。公司提醒投资者，公司的任何前瞻性陈述都不是对未来结果或业绩的保证，实际结果可能会由于各种因素而与前瞻性陈述中的结果大不相同，这些因素包括但不限于缺乏足够的财政资源；市场状况、货币和股票的变化；公司获得其活动所需的任何必要许可、批准、同意或授权的能力；公司成功或有利可图地从其物业生产能源、沼气、堆肥或有机肥料的能力，继续其预期的增长，或完全能够实施公司提交给美国证券交易委员会的文件中描述的业务战略和其他风险因素，这些文件可在www.sec.gov上查看。
- Financial Tables Follow -
-财务表格如下-
SusGlobal Energy Corp.
Interim Condensed Consolidated Balance Sheets
As at June 30, 2022 and December 31, 2021
(Expressed in United States Dollars)
(unaudited)
SusGlobal Energy Corp.
中期简明综合资产负债表
截至2022年6月30日和2021年12月31日
(以美元表示)
(未经审计)
| June 30, | December 31, | |||||
| 2022 | 2021 | |||||
| ASSETS | ||||||
| Current Assets | ||||||
| Cash | $ | 278 | $ | 36,033 | ||
| Trade receivables | 47,788 | 59,665 | ||||
| Government remittances receivable | 183,320 | 13,265 | ||||
| Inventory | 19,555 | 20,582 | ||||
| Prepaid expenses and deposits | 424,765 | 163,343 | ||||
| Total Current Assets | 675,706 | 292,888 | ||||
| Long-lived Assets, net | 9,783,085 | 8,278,833 | ||||
| Long-Term Assets | 9,783,085 | 8,278,833 | ||||
| Total Assets | $ | 10,458,791 | $ | 8,571,721 | ||
| LIABILITIES AND STOCKHOLDERS' DEFICIENCY | ||||||
| Current Liabilities | ||||||
| Accounts payable | $ | 3,562,080 | $ | 1,085,235 | ||
| Government remittances payable | 297,323 | 262,047 | ||||
| Accrued liabilities | 942,998 | 942,241 | ||||
| Current portion of long-term debt | 7,672,827 | 7,765,421 | ||||
| Current portion of obligations under capital lease | 59,130 | 91,047 | ||||
| Convertible promissory notes | 5,185,711 | 3,798,516 | ||||
| Due to related party | 40,000 | - | ||||
| Total Current Liabilities | 17,760,069 | 13,944,507 | ||||
| Long-term debt (note 8) | 1,704,548 | 1,752,271 | ||||
| Obligations under capital lease | 98,146 | 130,086 | ||||
| Deferred tax liability | 72,725 | 73,925 | ||||
| Total Long-term Liabilities | 1,875,419 | 1,956,282 | ||||
| Total Liabilities | 19,635,488 | 15,900,789 | ||||
| Stockholders' Deficiency | ||||||
| Preferred stock, $.0001 par value, 10,000,000 authorized, none issued and outstanding Common stock, $.0001 par value, 150,000,000 authorized, 102,587,799 (2021- 92,983,547) shares issued and outstanding | 10,263 | 9,302 | ||||
| Additional paid-in capital | 14,286,645 | 11,272,599 | ||||
| Shares to be issued | 121,570 | 59,640 | ||||
| Accumulated deficit | (23,426,544 | ) | (18,334,649 | ) | ||
| Accumulated other comprehensive loss | (168,631 | ) | (335,960 | ) | ||
| Stockholders' deficiency | (9,176,697 | ) | (7,329,068 | ) | ||
| Total Liabilities and Stockholders' Deficiency | $ | 10,458,791 | $ | 8,571,721 |
| 6月30日， | 十二月三十一日， | |||||
| 2022 | 2021 | |||||
| 资产 | ||||||
| 流动资产 | ||||||
| 现金 | $ | 278 | $ | 36,033 | ||
| 应收贸易账款 | 47,788 | 59,665 | ||||
| 应收政府汇款 | 183,320 | 13,265 | ||||
| 库存 | 19,555 | 20,582 | ||||
| 预付费用和押金 | 424,765 | 163,343 | ||||
| 流动资产总额 | 675,706 | 292,888 | ||||
| 长期资产，净额 | 9,783,085 | 8,278,833 | ||||
| 长期资产 | 9,783,085 | 8,278,833 | ||||
| 总资产 | $ | 10,458,791 | $ | 8,571,721 | ||
| 负债与股东缺陷 | ||||||
| 流动负债 | ||||||
| 应付帐款 | $ | 3,562,080 | $ | 1,085,235 | ||
| 应支付的政府汇款 | 297,323 | 262,047 | ||||
| 应计负债 | 942,998 | 942,241 | ||||
| 长期债务的当期部分 | 7,672,827 | 7,765,421 | ||||
| 资本租赁项下债务的本期部分 | 59,130 | 91,047 | ||||
| 可转换本票 | 5,185,711 | 3,798,516 | ||||
| 因关联方原因 | 40,000 | - | ||||
| 流动负债总额 | 17,760,069 | 13,944,507 | ||||
| 长期债务(附注8) | 1,704,548 | 1,752,271 | ||||
| 资本租赁项下的债务 | 98,146 | 130,086 | ||||
| 递延税项负债 | 72,725 | 73,925 | ||||
| 长期负债总额 | 1,875,419 | 1,956,282 | ||||
| 总负债 | 19,635,488 | 15,900,789 | ||||
| 股东缺位 | ||||||
| 优先股，面值0.0001美元，授权1,000,000股，未发行和已发行普通股，面值.0001美元，授权150,000,000股，已发行和已发行102,587,799股(2021-92,983,547股) | 10,263 | 9,302 | ||||
| 额外实收资本 | 14,286,645 | 11,272,599 | ||||
| 拟发行的股份 | 121,570 | 59,640 | ||||
| 累计赤字 | (23,426,544 | ) | (18,334,649 | ) | ||
| 累计其他综合损失 | (168,631 | ) | (335,960 | ) | ||
| 股东缺位 | (9,176,697 | ) | (7,329,068 | ) | ||
| 总负债与股东缺位 | $ | 10,458,791 | $ | 8,571,721 |
SusGlobal Energy Corp.
Interim Condensed Consolidated Statements of Operations and Comprehensive Loss
For the three month periods ended June 30, 2022 and 2021
(Expressed in United States Dollars)
(unaudited)
SusGlobal Energy Corp.
中期简明合并经营报表和全面亏损
截至2022年6月30日和2021年6月30日的三个月期间
(以美元表示)
(未经审计)
| For the three-month periods ended | ||||||
| June 30, 2022 | June 30,2021 | |||||
| Revenue | $ | 110,143 | $ | 212,632 | ||
| Cost of Sales | ||||||
| Opening inventory | 16,806 | 45,923 | ||||
| Depreciation | 115,262 | 135,539 | ||||
| Direct wages and benefits | 53,408 | 65,390 | ||||
| Equipment rental, delivery, fuel and repairs and maintenance | (59,035 | ) | 69,280 | |||
| Utilities | 4,358 | (10,845 | ) | |||
| Outside contractors | 915 | 21,372 | ||||
| 131,714 | 326,659 | |||||
| Less: closing inventory | (19,555 | ) | (35,983 | ) | ||
| Total cost of sales | 112,159 | 290,676 | ||||
| Gross (loss) profit | (2,016 | ) | (78,044 | ) | ||
| Operating expenses | ||||||
| Management compensation-stock-based | ||||||
| compensation | 60,113 | 54,259 | ||||
| Management compensation-fees | 117,266 | 92,875 | ||||
| Marketing | 627,721 | 82,747 | ||||
| Professional fees | 360,433 | 98,344 | ||||
| Interest expense and default amounts | 189,708 | 168,986 | ||||
| Office and administration | 131,239 | 29,620 | ||||
| Rent and occupancy | 65,666 | 36,580 | ||||
| Insurance | 34,599 | 16,385 | ||||
| Filing fees | 7,368 | 17,188 | ||||
| Amortization of financing costs | 33,632 | 11,753 | ||||
| Directors' compensation | 14,689 | 12,672 | ||||
| Stock-based compensation | 166,275 | 28,209 | ||||
| Repairs and maintenance | (13,488 | ) | (5,402 | ) | ||
| Foreign exchange loss (income) | 217,929 | (7,321 | ) | |||
| Total operating expenses | 2,013,150 | 636,895 | ||||
| Net loss from operating activities | (2,015,166 | ) | (714,939 | ) | ||
| Other (loss) income | (213,503 | ) | (107,756 | ) | ||
| Net loss | (2,228,669 | ) | (822,695 | ) | ||
| Other comprehensive loss | ||||||
| Foreign exchange income (loss) | 309,853 | (46,954 | ) | |||
| Comprehensive loss | $ | (1,918,816 | ) | $ | (869,649 | ) |
| Net loss per share-basic and diluted | $ | (0.03 | ) | $ | (0.01 | ) |
| Weighted average number of common shares outstanding- basic and diluted | 99,775,157 | 92,767,400 | ||||
| 截至以下三个月的期间 | ||||||
| 2022年6月30日 | 2021年6月30日 | |||||
| 收入 | $ | 110,143 | $ | 212,632 | ||
| 销售成本 | ||||||
| 期初库存 | 16,806 | 45,923 | ||||
| 折旧 | 115,262 | 135,539 | ||||
| 直接工资和福利 | 53,408 | 65,390 | ||||
| 设备租赁、交付、燃料以及维修和保养 | (59,035 | ) | 69,280 | |||
| 公用事业 | 4,358 | (10,845 | ) | |||
| 外部承包商 | 915 | 21,372 | ||||
| 131,714 | 326,659 | |||||
| 减去：期末库存 | (19,555 | ) | (35,983 | ) | ||
| 销售总成本 | 112,159 | 290,676 | ||||
| 毛利(亏损) | (2,016 | ) | (78,044 | ) | ||
| 运营费用 | ||||||
| 管理层薪酬--以股票为基础 | ||||||
| 补偿 | 60,113 | 54,259 | ||||
| 管理薪酬--费用 | 117,266 | 92,875 | ||||
| 营销 | 627,721 | 82,747 | ||||
| 专业费用 | 360,433 | 98,344 | ||||
| 利息支出和违约金额 | 189,708 | 168,986 | ||||
| 办公室和行政部门 | 131,239 | 29,620 | ||||
| 租金和入住率 | 65,666 | 36,580 | ||||
| 保险 | 34,599 | 16,385 | ||||
| 申请费 | 7,368 | 17,188 | ||||
| 融资成本摊销 | 33,632 | 11,753 | ||||
| 董事薪酬 | 14,689 | 12,672 | ||||
| 基于股票的薪酬 | 166,275 | 28,209 | ||||
| 维修和保养 | (13,488 | ) | (5,402 | ) | ||
| 汇兑损失(收益) | 217,929 | (7,321 | ) | |||
| 总运营费用 | 2,013,150 | 636,895 | ||||
| 经营活动净亏损 | (2,015,166 | ) | (714,939 | ) | ||
| 其他(亏损)收入 | (213,503 | ) | (107,756 | ) | ||
| 净亏损 | (2,228,669 | ) | (822,695 | ) | ||
| 其他综合损失 | ||||||
| 外汇收入(损失) | 309,853 | (46,954 | ) | |||
| 综合损失 | $ | (1,918,816 | ) | $ | (869,649 | ) |
| 每股净亏损--基本亏损和摊薄亏损 | $ | (0.03 | ) | $ | (0.01 | ) |
| 已发行普通股的加权平均数--基本和稀释 | 99,775,157 | 92,767,400 | ||||
SusGlobal Energy Corp.
Interim Condensed Consolidated Reconciliation of Non-GAAP Information
For the three-month periods ended June 30, 2022 and 2021
(Expressed in United States Dollars)
(Unaudited)
SusGlobal Energy Corp.
非公认会计准则信息的中期简明合并对账
截至2022年6月30日和2021年6月30日的三个月期间
(以美元表示)
(未经审计)
| For the three-month periods ended | |||||||
| June 30, 2022 | June 30, 2021 | ||||||
| Net loss (GAAP) | $ | (2,228,669 | ) | $ | (822,695 | ) | |
| Add the following items: | |||||||
| Interest expense | 189,708 | 168,986 | |||||
| Depreciation and amortization | 115,260 | 137,623 | |||||
| Stock-based compensation | 226,388 | 82,468 | |||||
| Amortization of financing costs | 33,632 | 11,753 | |||||
| Loss on revaluation of convertible promissory notes | 4,488,323 | 188,953 | |||||
| Gain on extinguishment of convertible promissory notes | (4,274,820 | ) | - | ||||
| Adjusted EBITDA (non-GAAP) | $ | (1,450,178 | ) | $ | (232,912 | ) | |
| 截至以下三个月的期间 | |||||||
| 2022年6月30日 | 2021年6月30日 | ||||||
| 净亏损(GAAP) | $ | (2,228,669 | ) | $ | (822,695 | ) | |
| 添加以下项目： | |||||||
| 利息支出 | 189,708 | 168,986 | |||||
| 折旧及摊销 | 115,260 | 137,623 | |||||
| 基于股票的薪酬 | 226,388 | 82,468 | |||||
| 融资成本摊销 | 33,632 | 11,753 | |||||
| 可转换本票重估损失 | 4,488,323 | 188,953 | |||||
| 可转换本票的消灭收益 | (4,274,820 | ) | - | ||||
| 调整后的EBITDA(非GAAP) | $ | (1,450,178 | ) | $ | (232,912 | ) | |
Contact
联系方式
SusGlobal Energy Corp.
Marc Hazout, President and CEO
SusGlobal Energy Corp.
马克·哈兹奥特、总裁和首席执行官
(416) 223-8500 or Toll Free: 1-866-512-7374
Email: info@susglobalenergy.com
(416) 223-8500免费电话：1-866-512-7374
电子邮件：info@suslobalenergy.com
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要查看本新闻稿的源版本，请访问