Announcement • Sep 26
CFOAM Limited, Annual General Meeting, Nov 30, 2023 CFOAM Limited, Annual General Meeting, Nov 30, 2023. Reported Earnings • Oct 02
Full year 2022 earnings released: US$0.001 loss per share (vs US$0 in FY 2021) Full year 2022 results: US$0.001 loss per share (further deteriorated from US$0 in FY 2021). Revenue: US$49.0 (down 52% from FY 2021). Net loss: US$521.6k (down 438% from profit in FY 2021). Announcement • Sep 27
CFOAM Limited, Annual General Meeting, Nov 30, 2022 CFOAM Limited, Annual General Meeting, Nov 30, 2022. Reported Earnings • Sep 01
Full year 2022 earnings released: US$0.003 loss per share (vs US$0.006 loss in FY 2021) Full year 2022 results: US$0.003 loss per share (up from US$0.006 loss in FY 2021). Revenue: US$49.0 (down 100% from FY 2021). Net loss: US$2.06m (loss narrowed 14% from FY 2021). Announcement • Aug 17
CONSOL Energy Inc. (NYSE:CEIX) completed the acquisition of remaining 74.34% stake in CFOAM Corp. from CFOAM Limited (ASX:CFO). CONSOL Energy Inc. (NYSE:CEIX) entered into a conditional agreement to acquire remaining 74.34% stake in CFOAM Corp. from CFOAM Limited (ASX:CFO) for $1 million on July 7, 2022. CFOAM Corp is currently 74.34% owned by CFOAM Limited and 25.66% owned by CONSOL Energy Inc. CFOAM Corp owns the operating entity CFOAM LLC, located in Triadelphia, West Virginia. Closing of the transactions set forth in the agreement is conditioned on standard conditions including but not limited to CFOAM Limited shareholder approval under Listing Rule 11.2 of the ASX Listing Rules and critically, a full release of any parent company guarantees provided by CFOAM Limited to the USA domiciled entities, CFOAM Corp and CFOAM LLC, each of the CFOAM's nominee directors on the board of CFOAM Corp. resigning as directors as well as any required third-party consents to the transactions. CONSOL Energy Inc. has agreed to fund the CFOAM Corp and CFOAM LLC business during the period from the signing of the agreement to settlement up to the amount of $0.3 million. In the event that the proposed sale does not complete then this funding may be converted to equity in CFOAM Corp increasing CONSOL Energy Inc.’s ownership interest to up to 39.21% (on the basis that $0.3 million is the amount of the working capital loan). CFOAM Corp will have the financial and managerial support from CONSOL Energy Inc. to progress the USA domiciled business in a timely manner. CFOAM Limited wishes to thank the employees of CFOAM LLC led by Rudy Olson for their efforts and work to progress the business during these difficult conditions. As of August 10, 2022, CFOAM Limited shareholders approved the transaction.
CONSOL Energy Inc. (NYSE:CEIX) completed the acquisition of remaining 74.34% stake in CFOAM Corp. from CFOAM Limited (ASX:CFO) on August 17, 2022. Announcement • Jul 08
CONSOL Energy Inc. (NYSE:CEIX) entered into a conditional agreement to acquire 74.34% stake in CFOAM Corp. from CFOAM Limited (ASX:CFO) for $1 million. CONSOL Energy Inc. (NYSE:CEIX) entered into a conditional agreement to acquire 74.34% stake in CFOAM Corp. from CFOAM Limited (ASX:CFO) for $1 million on July 7, 2022. CFOAM Corp is currently 74.34% owned by CFOAM Limited and 25.66% owned by CONSOL Energy Inc. CFOAM Corp owns the operating entity CFOAM LLC, located in Triadelphia, West Virginia. Closing of the transactions set forth in the agreement is conditioned on standard conditions including but not limited to CFOAM Limited shareholder approval under Listing Rule 11.2 of the ASX Listing Rules and critically, a full release of any parent company guarantees provided by CFOAM Limited to the USA domiciled entities, CFOAM Corp and CFOAM LLC, as well as any required third-party consents to the transactions. CONSOL Energy Inc. has agreed to fund the CFOAM Corp and CFOAM LLC business during the period from the signing of the agreement to settlement up to the amount of $0.3 million. In the event that the proposed sale does not complete then this funding may be converted to equity in CFOAM Corp increasing CONSOL Energy Inc.’s ownership interest to up to 39.21% (on the basis that $0.3 million is the amount of the working capital loan). CFOAM Corp will have the financial and managerial support from CONSOL Energy Inc. to progress the USA domiciled business in a timely manner. CFOAM Limited wishes to thank the employees of CFOAM LLC led by Rudy Olson for their efforts and work to progress the business during these difficult conditions. Reported Earnings • Mar 02
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: US$0.002 loss per share (up from US$0.007 loss in 1H 2021). Revenue: US$540.2k (up 66% from 1H 2021). Net loss: US$1.06m (loss narrowed 22% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 61% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 03
Full year 2021 earnings released: US$0.008 loss per share (vs US$0.03 loss in FY 2020) Full year 2021 results: Net loss: US$2.39m (loss narrowed 47% from FY 2020). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Announcement • Jul 16
CFOAM Limited has completed a Follow-on Equity Offering in the amount of AUD 2.24 million. CFOAM Limited has completed a Follow-on Equity Offering in the amount of AUD 2.24 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 140,000,000
Price\Range: AUD 0.016
Transaction Features: Subsequent Direct Listing Announcement • Jun 15
CFOAM Limited, CFOAM Corp and CFOAM LLC Provide Project Update CFOAM Limited, CFOAM Corp. (74.34% owned by CFOAM Limited, 25.66% owned by CONSOL Energy Inc) and its operating entity CFOAM LLC, Triadelphia, West Virginia, (CFOAM) provide the following update: 68' long belt continuous kiln installed and set in place at Triadelphia facility; Nitrogen generator absorber system delivered and set in place; Gas fired-incinerator/thermal oxidiser construction drawing approved; Utility upgrade works on-going with conduit for 500 Amp service run and concrete works completed; Operating permits for the new facility progressing with mandatory advertising notice published for comment until 23 June 2021; Further work is required on services, delivery and installation of equipment. A target completion date for the majority of this work is the end of theJune quarter; Final works and commissioning planned for the September quarter; and R&D work continues. The United States Department of Energy's (DOE) Office of Fossil Energy (FE) has awarded the CFOAM proposal for "Continuous Processing of Carbon Foam Products Made from Coal at Atmospheric Pressure" (or CFOAM Project) for a total project value of USD 2,421,802 commencing 1 January 2021, including DOE funding of USD 1,923,680 with CFOAM being approximately USD 1.523 million and cost share from CFOAM and CONSOL Energy Inc. of USD 498,122. This CFOAM Project will target applications capable of utilizing carbon foam at large scale, transforming coal to carbon products, with the potential for significant cost savings and consequently the ability to penetrate more competitive applications where volume and cost are paramount (e.g. building applications). Announcement • May 12
CFOAM Limited announced that it expects to receive AUD 4.14029 million in funding CFOAM Limited (ASX:CFO) announced a private placement of 258,768,127 ordinary fully paid shares at a price of AUD 0.016 for gross proceeds of AUD 4,140,290.032 on May 12, 2021. The company will receive the funding in two tranches. The company will issue 118,768,127 ordinary fully paid shares in tranche 1, expected to be received on May 17, 2021 and 140,000,000 ordinary fully paid shares in tranche 2 expected to be received on July 7, 2021. The tranche 2 is subject to approval of shareholders of the company at a general meeting. Announcement • Feb 05
CFOAM Limited Announces Project Update CFOAM Limited, CFOAM Corp. (74.34% owned by CFOAM Limited, 25.66% owned by CONSOL Energy Inc) and its operating entity CFOAM LLC, Triadelphia, West Virginia, (CFOAM) wish to provide the following update: Promising results from initial test work undertaken on continuous kiln. Negotiations to acquire and move the kiln are progressing. The United States Department of Energy's (DOE) Office of Fossil Energy (FE) has awarded the CFOAM proposal for "Continuous Processing of Carbon Foam Products Made from Coal at Atmospheric Pressure" (or CFOAM Project) for a total project value of USD 2,421,802 commencing 1 January 2021, including DOE funding of USD 1,923,680 with CFOAM being approximately USD 1.523 million and cost share from CFOAM and CONSOL Energy Inc. of USD 498,122. This CFOAM Project will target applications capable of utilizing carbon foam at large scale, transforming coal to carbon products, with the potential for significant cost savings and consequently the ability to penetrate more competitive applications where volume and cost are paramount (e.g. building applications). The objective is to create a continuous manufacturing process for carbon foam that operates at atmospheric pressure and can generate well-formed carbon foam panels and lightweight aggregates. A successful outcome would: significantly reduce the cost to manufacture carbon foam through reductions in capital and labour costs, significantly reduce the cycle time to manufacture carbon foam from weeks to hours, and enable the manufacture of much larger volumes of carbon foam. CFOAM has undertaken 2 days of trials on a 68' long belt continuous kiln in North Carolina. This kiln appears to be suitable for the CFOAM Project. The CFOAM Project R&D team conducted a number of trials in the kiln. The initial results showed promising results, including well-formed bottoms and decent thickness on some samples and the aggregate formed well and no fusion. Work is now being undertaken to review, analyse and assess the full suite of samples. Announcement • Dec 06
CFOAM Limited (ASX:CFO) completed the acquisition of 10.2% stake in Innovaero Technologies Pty Ltd. CFOAM Limited (ASX:CFO) entered into a conditional agreement to acquire 10.2% stake in Innovaero Technologies Pty Ltd for AUD 1.6 million on October 8, 2020. The proceeds of AUD 3.8 million from rights issue will be used in the transaction for funding. The transaction is subject to CFOAM Limited completing a new equity raising for a minimum of AUD 3 million and due diligence. As of November 4, 2020 the takeover panel of Australian Government received an application from shareholders of CFOAM Limited regarding whether to undertake a 4 for 3 renounceable entitlement issue at an issue price of AUD 0.015 per share to raise AUD 3.8 million. As of November 9, 2020 the takeover panel of Australian Government has declined to conduct proceedings. As of November 24, 2020 CFOAM Limited has satisfied the conditions for its proposed investment in Innovaero Technologies Pty Ltd and will proceed to the settlement of this investment.
CFOAM Limited (ASX:CFO) completed the acquisition of 10.2% stake in Innovaero Technologies Pty Ltd on December 4, 2020. Announcement • Oct 08
CFOAM Limited (ASX:CFO) entered into a conditional agreement to acquire 10.2% stake in Innovaero Technologies Pty Ltd for AUD 1.55 million. CFOAM Limited (ASX:CFO) entered into a conditional agreement to acquire 10.2% stake in Innovaero Technologies Pty Ltd for AUD 1.55 million on October 8, 2020. The proceeds of AUD 3.8 million from rights issue will be used in the transaction for funding. The transaction is subject to CFOAM Limited completing a new equity raising for a minimum of AUD 3 million and due diligence. Reported Earnings • Oct 03
Full year earnings released - AU$0.03 loss per share Over the last 12 months the company has reported total losses of US$4.52m, with losses narrowing by 24% from the prior year. Total revenue was US$857.5k over the last 12 months, down 16% from the prior year. 