market cap 8mil at 1.4 watch this space !, page-325

DOE Project:
CFOAM PROJECT OBJECTIVES – COAL TO CARBON PRODUCTS
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:
1) significantly reduce the cost to manufacture carbon foam through reductions in capital
and labour costs,
2) significantly reduce the cycle time to manufacture carbon foam from weeks to hours,
and
3) enable the manufacture of much larger volumes of carbon foam.
All of these features will enable carbon foam to enter much larger markets and create
meaningful demand for U.S. coal.
QUARTERLY CASH FLOW AND CASH POSITION
 CFOAM group cash @ 30 June 2021: US$1,101,000
 Sales receipts for the quarter: US$198,000 in sales
 DOE grant funds received for the quarter: US$383,000
 CFOAM products sold to 17 different organisations
 Operational costs continue to be maintained
SALES ACTIVITY AND PIPELINE
Sales revenue for the quarter of US$198,000 which was steady from last quarter of
US$196,000 but remains significantly COVID-impacted. Continued COVID-19 infections and
stringent on-site mobility restrictions has meant that limited or no on-site sales visits by our
salesforce have been possible. Additionally, customer operations have been significantly
curtailed and projects have slowed. The Board is optimistic that sales can increase once some
normality is resumed, albeit downstream visibility is limited.
The business sold product to 17 different organisations over the quarter, both in the USA
and overseas. This was 4 more than the 13 different organisations sold to in the prior
quarter, but many orders were repeat business. Companies continue to test and validate
the product across various industries, including building materials, fire doors, autos and
various aviation applications.