Complex sentence: XYZ recorded several demo tracks at Squire's home studio in Virginia Water, but never produced anything formal, though two of the demos provided the basis for two later Yes tracks, "Mind Drive" and "Can You Imagine?".
Split into simpler sentences: XYZ recorded several demo tracks at Squire's home studio in Virginia Water, but never produced anything formal. XYZ never officially released any material, though two of the demos provided the basis for two later Yes tracks, "Mind Drive" and "Can You Imagine?".