As the press release says, the local government will have to be satisfied that Belleville once again meets environmental regulations. It's been shut down for more than a year for noncompliance. Susglobal also owed the city $96k, which it may have defaulted on because the terms of that settlement included Hamilton being sold by the end of January, which didn't happen. Maybe that's been paid, the 10K will tell, but if not, that's a hurdle.
Marc also owes $370k to the power company that serves Belleville and $168k to an environmental contractor for work done at Belleville so I presume those bills will need to be paid as well before Belleville is operational again. As of the last 10Q there was a construction lien on the property as a result of unpaid bills.
If all of that is done, and it'll take money, what's the plan for Belleville? Is it just compost? That hasn't been lucrative so far even when credits were being generated. Is the waste transfer station still on the table or did that leave with Bruce? RNG may still be an option with the offtake but that will require tens of millions of dollars or more to construct.
I've got to hand it to Marc for always coming up with a plan but he's dug himself one helluva hole that could get deeper if the court case with the Hamilton contractor proceeds on Wednesday. As always, we shall see but he needs Hamilton to sell pronto and for a really good price.
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