As of June 30, 2024, SusGlobal Energy Corp. reported significant financial challenges, with total current assets declining to $176,458 from $433,540 at the end of 2023. Total assets also decreased to $10,960,797 from $11,755,903. Current liabilities rose, particularly accounts payable, which increased to $4,566,174 from $3,960,270. The company’s accumulated deficit worsened to $(42,475,378) from $(38,570,531), and stockholders' deficiency increased to $(22,201,797) from $(19,068,060).

In terms of revenue, SusGlobal reported $0 for the three-month period ended June 30, 2024, a stark decline from $153,487 in the same period of 2023. For the six-month period, revenue fell to $38,575 from $318,174 year-over-year. The cessation of waste acceptance at the Belleville Facility due to compliance issues was a primary factor in this revenue drop. The total cost of sales for the three-month period was $228,091, leading to a gross loss of $(228,091), compared to a gross loss of $(46,476) in Q2 2023. Operating expenses surged to $1,205,031 from $632,995, resulting in a net loss from operating activities of $(1,433,122), compared to $(679,471) in Q2 2023. The net loss for the three-month period was $(2,379,103), a slight improvement from $(2,946,778) in Q2 2023.

For the six-month period, the net loss was $(3,904,847), compared to $(3,981,950) in the same period of 2023. The company’s comprehensive loss also improved to $(3,234,867) from $(4,316,629) year-over-year.

Strategically, SusGlobal is facing substantial doubt regarding its ability to continue as a going concern, primarily due to the need for approximately $10 million to fund capital requirements and general corporate expenses over the next year. The company has also been involved in various legal and financial disputes, including a claim from the City of Belleville for repayment of costs related to contaminated water management.

Management compensation has seen adjustments, with the CEO's monthly fee increasing to $36,970 from $29,576, while stock-based compensation expenses decreased. The company has also faced challenges with its convertible promissory notes, with the outstanding principal balance increasing to $8,149,227 as of June 30, 2024, from $7,442,600 at the end of 2023.

Overall, SusGlobal Energy Corp. is navigating a difficult financial landscape, marked by declining revenues, increasing liabilities, and ongoing compliance issues that necessitate significant investment and strategic restructuring.