SusGlobal Energy Corp. Reports Second Quarter 2019 Financial Results

TORONTO, Ontario – August 14, 2019 – SusGlobal Energy Corp. (OTCQB: SNRG), the developer of SusGro®, a revolutionary pathogen-free organic liquid fertilizer, today announced financial results for the second quarter ended June 30, 2019 and provided an update on its operational progress.

Recent Highlights

• The Company completed the business acquisition of 1684567 Ontario Inc., effective May 24, 2019 including all assets and waste management contracts

• Through the business acquisition of 1684567 Ontario Inc., the Company now owns the property upon which the organic composting facility is situated comprising 42.18 acres

• The Company made application to register the Trademarks SusGro,™ Earth’s Journey™ Compost, Leaders
in the In The Circular Economy™ and Caring for Earth’s Journey™

• Revenue increased by over 67% during the second quarter of 2019 compared to the second quarter of 2018

“We continued to work with customers to bring further products to market, while pursuing regulatory certifications. We believe we are making the necessary strategic steps to capture the immense opportunity of processing organic waste, and producing regenerative products, we expect to see increasing tipping fees and compost sales in 2019,” said Marc Hazout, Executive Chairman and President of SusGlobal Energy Corp. “Our goal is to drive revenue and cash flow as quickly as possible as we focus on bringing new processing sites into operation.”

Unaudited 2019 Second Quarter Financial Results

For the second quarter ended June 30, 2019, SusGlobal recorded:

• Revenue of $381,834
• Cost of sales of $304,618

• Operating expenses of $780,167 (GAAP), comprised of $332,500 of stock-based compensation, $150,407 of interest expense and $297,260 in various other expenses including professional fees, office and administration and other operating expenses

• Net loss of $702,951, or $0.02 loss per basic and diluted share

• Adjusted EBITDA (a non-GAAP financial measure) loss of $60,729

• $5,400,565 in total assets at the end of the first quarter, with debt of $6,714,186
About SusGlobal Energy Corp.

SusGlobal Energy Corp. (OTCQB: SNRG) 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 application 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:

Safe Harbor Statement

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

– Financial Tables Follow –

SusGlobal Energy Corp. 
Consolidated Balance Sheets 
As at June 30, 2019 and December 31, 2018 
(Expressed in United States Dollars) 

June 30, 2019 December 31, 2018
Current Assets
Cash and cash equivalents $ 25,140 $ 42,711
Trade receivables 157,322 129,981
Government remittances receivable 17,925
Inventory 24,738 18,550
Prepaid expenses and deposits 33,109 23,172
Total Current Assets 258,234 214,414
Intangible Assets  235,926 135,189
Long-lived Assets, net  4,906,405 3,361,110
Long-Term Assets 5,142,331 3,496,299
Total Assets $ 5,400,565 $ 3,710,713
Current Liabilities
Accounts payable $ 618,956 $ 353,728
Government remittances payable 35,169
Accrued liabilities 713,443 646,003
Current portion of long-term debt 3,844,309 3,727,778
Current portion of obligations under capital lease 90,933 81,109
Convertible promissory notes 1,248,299
Mortgage payable 1,301,161
Loans payable to related parties 57,308 201,575
Total Current Liabilities 7,874,409 5,045,362
Long-Term Liabilities
Obligations under capital lease 172,176 207,599
Total Long-term Liabilities 172,176 207,599
Total Liabilities 8,046,585 5,252,961
Stockholders’ Deficiency
Preferred stock, $.0001 par value, 10,000,000 authorized, none issued and outstanding
Common stock, $.0001 par value, 150,000,000 authorized, 42,484,531 (2018- 40,299,531) shares issued and outstanding
4,250 4,031
Additional paid-in capital 7,180,841 5,754,260
Subscriptions payable 4,600
Stock compensation reserve 665,000 1,330,000
Accumulated deficit (10,337,807) (8,554,312)
Accumulated other comprehensive loss (158,304) (80,827)
Stockholders’ deficiency (2,646,020) (1,542,248)
Total Liabilities and Stockholders’ Deficiency $ 5,400,565 $ 3,710,713


SusGlobal Energy Corp.
Consolidated Statements of Operations and Comprehensive Loss
For the three-month periods ended June 30, 2019 and 2018
(Expressed in United States Dollars)

SusGlobal Energy Corp.
Consolidated Statements of Operations and Comprehensive Loss
For the three-month periods ended June 30, 2019 and 2018
(Expressed in United States Dollars)

For the three-month periods ended


June 30, 2019

June 30, 2018





Total cost of sales





Gross profit





Operating expenses


Management compensation-stock- based compensation




Management compensation-fees






Professional fees




Interest expense




Office and administration




Rent and occupancy








Filing fees




Amortization of financing costs



Directors’ compensation




Repairs and maintenance




Total operating expenses




Net loss



Other comprehensive loss


Foreign exchange loss




Comprehensive loss




Net loss per share-basic and diluted




Weighted average number of common shares outstanding- basic and diluted





SusGlobal Energy Corp.
Consolidated Reconciliation of Non-GAAP Information
For the three-month periods ended June 30, 2019 and 2018
(Expressed in United States Dollars)

For the three-month periods ended 

        June 30, 2019


       June 30, 2018

Net loss (GAAP)    $




Add the following items:
Interest expense




Depreciation and amortization




Stock-based compensation










Adjusted EBITDA (non-GAAP)    $