SusGlobal Energy Corp.
SNRG · Refuse Systems · 142.3M shares · +16%/yr ↑ shares · EDGAR filings ↗
Reference price $0.03 · est. market cap ~$4M — last insider sale, 2026-02-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
F37Near-cash-out micro-cap with no liquidity, collapsing revenue and deeply negative margins.
Strengths
- Nominal zero debt-to-equity (14.3rd pct)
- Net loss narrowed slightly y/y (NI growth 33rd pct)
Risks
- Cash runway 0 quarters (1.7th pct) and current/quick ratio ~0.002 (10th pct) — acute liquidity crisis
- Revenue down 87% with negative gross margin (-15%) and net margin -98% (10th pct)
- Headline ROE 32% (88.9th pct) is a negative-equity artifact, not real returns
Notable findings
- Net lossNet loss (net margin -9838.0%)
- Cash burnNegative free cash flow (-1.8M)
- Weak liquidityCurrent ratio 0.00 (<1)
- Chronic dilutionShare count +16%/yr over 2y (dilution)
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
-1518.3%
Net margin
-9838.0%
Return on equity
31.7%
Return on assets
-90.2%
Revenue growth (QoQ)
-100.0%
Debt / equity
0.0×
Current ratio
0.0×
Free cash flow
-$2M
Tangible book value
-$25M
Cash & investments
$1K
Cash runway
0q
Stock comp / revenue
270.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-03 | Hazout Marc | Sell | 20K | $0.03 |
| 2026-02-03 | Hazout Marc | Sell | 290K | $0.03 |
| 2026-02-03 | Hazout Marc | Sell | 30K | $0.03 |
| 2026-02-02 | Hazout Marc | Sell | 160K | $0.03 |
| 2025-06-12 | Hazout Marc | Buy | 2.5M | $0.02 |
| 2025-05-14 | Hazout Marc | Buy | 2.5M | $0.02 |
| 2025-02-18 | Hazout Marc | Buy | 6.0M | $0.02 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2024-11-29 | Exec/director changeExhibits | filing ↗ |
| 2024-10-16 | Exec/director changeExhibits | filing ↗ |
| 2024-10-03 | Exec/director change | filing ↗ |
| 2023-06-15 | Debt acceleration | filing ↗ |
| 2023-04-03 | Material agreementExhibits | filing ↗ |
| 2023-02-24 | Exec/director changeExhibits | filing ↗ |
| 2023-01-05 | Material agreementDebt obligation | filing ↗ |
| 2022-09-29 | Auditor changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2025-11-13 | 2025-09-30 | 0001062993-25-016764 ↗ |
| 10-Q | 2025-08-14 | 2025-06-30 | 0001062993-25-014381 ↗ |
| 10-Q | 2025-06-16 | 2025-03-31 | 0001062993-25-011728 ↗ |
| 10-K | 2025-05-14 | 2024-12-31 | 0001062993-25-009309 ↗ |
| 10-K/A | 2024-12-19 | 2023-12-31 | 0001062993-24-020888 ↗ |
| 10-K/A | 2024-12-03 | 2023-12-31 | 0001062993-24-019968 ↗ |
| 8-K/A | 2024-11-29 | 2024-09-27 | 0001062993-24-019818 ↗ |
| 10-Q | 2024-11-14 | 2024-09-30 | 0001062993-24-019141 ↗ |
| 8-K/A | 2024-10-16 | 2024-09-27 | 0001062993-24-017693 ↗ |
| 8-K | 2024-10-03 | 2024-09-27 | 0001062993-24-017402 ↗ |
| 10-Q | 2024-09-27 | 2024-06-30 | 0001062993-24-017014 ↗ |
| 10-Q | 2024-06-07 | 2024-03-31 | 0001062993-24-012177 ↗ |