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SYNTHESIS ENERGY SYSTEMS INC

synthesisenergy.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2020 10-Q, filed Mar 2, 2020. Its latest SEC filing is a SEC STAFF ACTION from Feb 26, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Develops gasification technology that turns coal, biomass and municipal waste into syngas for energy and chemical producers.

Who Were Their Customers?

Industrial energy and chemical producers use the company’s technology to make products such as fuel gas, synthetic natural gas, chemicals and power. Projects are developed with regional partners, including AFE in Australia, SEE in Poland and TSEC in China.

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q2 FY2020, the three months to Dec 31, 2019
Net income
▲ +1241% (Loss)
vs −$1.6M in Q2 FY2019
  • Oct 2, 2020 OTCQB gives company a 45-day cure period to file annual report It must file its annual report and post its certification by November 12, 2020 to avoid a downgrade to OTC Pink.
  • Jun 29, 2020 RSM ends its auditor relationship with the company RSM informed the company that the relationship ceased effective June 24, 2020.
  • Jun 4, 2020 AFE terminates planned merger with company The termination ended the previously announced planned merger between SES, AFE and SES Merger Sub.
  • Jun 1, 2020 CEO and officers resign as Charles Runnels takes over The board appointed Runnels as principal executive, financial and accounting officer after all current directors and officers resigned.

Commercialization paused The earlier report described developing, building and owning clean-energy projects, alongside licensing technology and selling proprietary equipment and services. The latest report says it suspended global technology commercialization, cut technology resources and stopped funding project development.

Who Did They Compete With?

Competes with Air Products, General Electric, Shell, Lurgi, Siemens, CB&I, East China University, and Beijing Aerospace

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