# EOF - Ecofibre Limited



## System (4 March 2019)

Ecofibre Limited and its Subsidiaries operate in the hemp industry in the United States and Australia. Ecofibre operates 3 key business lines through its Subsidiaries, namely:

Ananda Health: Production and sale of hemp related nutraceutical products focused on the US.
Ananda Food: Production and sale of hemp related food products in Australia.
Hemp Black: Development of innovative hemp related fibre products globally.

In the US, Ecofibre operates in the hemp-derived nutraceutical sector, targeting the health and well-being segment based on whole-plant cannabinoid extracts (Ananda Health).

In Australia, Ecofibre operates in the hemp-derived food products sector, supplying 100% Australian grown and processed hemp seed foods (Ananda Food).

Hemp Black is a pre-commercial business that aims to provide hemp-based inputs for innovative product applications across a range of consumer and industrial markets.

It is anticipated that EOF will list on the ASX on 29 March 2019.

https://www.ecofibre.com


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## BoNeZ (30 November 2019)

With an IPO price of $1.00 EOF initially opened at $1.61 and had steadily risen to a recent high of $3.90 on decent volumes.

Volume has averaged about 350K but a day of 3,576K with some large orders trading during the 4pm close has seen the price pull back. I'm hoping this is just some consolidation before moving higher.

I own EOF and have chosen it in the December stock picking competition.


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## Maytee1001 (7 March 2020)

You chose the right stock, however your timing was off. EOF has suffered tremendously.

It's destined for success thought. Check the hotcopper forums, all the juice is in there. Can't fail with what's coming up.


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## Dona Ferentes (8 March 2020)

EcoFibre  came out of the blocks at IPO (@ $1.00) and basically tripled the money for early investors in the first 3 months. Since then it hasn't been so rosy.

Despite a NASDAQ admission late Oct, the Annuals in Nov were ho-hum and, importantly, in December a FDA Notice about companies (not EOF) selling products containing _cannabidiols_ that violate Federal laws, put pressure on the price. From lofty heights, EOF has retraced to the low $2 range







While EOF claims it is differentiated from other cannabis stocks, the entire 'sector' was a bit of a bubble; market reality has set in
https://www.abc.net.au/news/2020-03...-takes-hit-as-market-reality-sets-in/12012010
*Key points:*

The industry is experiencing a correction, with people who sought a quick profit from the pot boom now feeling the pinch
Some companies have lost 50 to 80 per cent of their stockmarket value in the past year
Insiders say the industry's major bottleneck is being able to turn an illegal recreational substance into a pharmaceutical-grade drug


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## Dona Ferentes (8 March 2020)

Maytee1001 said:


> You chose the right stock, however your timing was off. EOF has suffered tremendously.
> 
> It's destined for success thought. Check the hotcopper forums, all the juice is in there. Can't fail with what's coming up.



Nice pump, first time poster. ....as they chanted in concert "No way, F. Off"


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## Maytee1001 (9 March 2020)

Dona Ferentes said:


> Nice pump, first time poster. ....as they chanted in concert "No way, F. Off"





I'll address this first.

You'd have to be brain damaged to invest in a stock based off one short comment from a random, stating that it's destined for success and that it can't fail.

How in the world is that a 'pump'? Who am I influencing? One guy?

The point was to get him to look at the stuff posted on the HC forums, and make up his own mind, as anyone putting money into ANYTHING should be doing. That doesn't even need to be stated; it's a basic and obvious principle.

I'll move on to your other response now.


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## Maytee1001 (9 March 2020)

Dona Ferentes said:


> EcoFibre  came out of the blocks at IPO (@ $1.00) and basically tripled the money for early investors in the first 3 months. Since then it hasn't been so rosy.
> 
> Despite a NASDAQ admission late Oct, the Annuals in Nov were ho-hum and, importantly, in December a FDA Notice about companies (not EOF) selling products containing _cannabidiols_ that violate Federal laws, put pressure on the price. From lofty heights, EOF has retraced to the low $2 range
> View attachment 101113
> ...




The NASDAQ admission is irrelevant as its a pink stock. I can't even find EOFBF on my platform. Volume is almost non existent. Once it gets a proper listing, they will be required to report to the SEC, and Americans / others will be able to trade it with ease. The money should roll in then. This should coincide with the launch of Hemp Black.

The only thing released in November was the funeral meeting results/speeches. And a study. No financials. Furthermore, the financial results released have been very good. In the last release, the growth appeared to be low, but this was due to a switch to a distributor model, meaning that there was a delay in receivables, whereas previously, payment for orders was received rapidly. It helps to actually read the release, rather than skimming over figures.

The FDA notices related to medical claims made by said companies. Just like I can't claim that my concoction will cure your cancer. Some companies also sold contaminated product, or product with little to no actual CBD. Ecofibre are at the forefront of championing regulation. To prevent this very thing from being able to occuring.

EOF is definitely unique. It has a CBD business in the US which achieved market supremacy in the private pharmacy sector within a year. It is profitable and will be exporting to Australia this year. It has a food business in Australia, which will be exporting to the US, as well as becoming profitable,  this year. Then we have the textiles/composites/ink/vegan leather/nanofilm, etc, business, Hemp Black. The plant will be ready for production in a few months time. They're hiring as we speak. The scope of this business is virtually limitless and it will be the new core moneymaker. Then we have the 300+ genetic varieties. We have active research being conducted at Thomas Jefferson University. Show me one other CBD company with these features. EOF is being dragged down with the sector, whilst being a superb performer.

And regarding that quote about the illegal recreational substance, that'll be MARIJUANA. Ecofibre is a HEMP company. Hemp is legal at the federal level. It is legal in Australia as well.

People are absolutely clueless about this company.

I look at patents, trademarks, bills of lading, job advertisements, hidden website parts, relationships to individuals and companies, etc etc. 

I'll have you know that payment for a patent was received 4 days ago, and it will be live and official in about a month. That's the second approved patent.

So, if you think that I'm upramping the stock, I'd say that you're downramping it based on a lack of research and knowledge, especially due to the fact that you're quoting an article pertaining to Australia, when the core of the business is in the US. And that is irresponsible.

Either way, you can visit the forums that I suggested and get informed (I'm the main poster there), or you can remain ignorant. The choice is yours. And it doesn't affect me at all. I just wanted to elate that guy's worries since it went down so much recently.


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## finicky (20 October 2020)

EOF seems attractive to believers today. Quarterly out that tips loss H1 but break even full FY21.
Expenses relating to Hemp Black acquiring a textile manufacturer and lost business from pharmacies hit by Covid and riots seems to account for some of it. Long term stock for me so I have taken the opportunity to add - bid in for 2,000 more @ 1.81

All Data Daily


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## finicky (20 October 2020)

We got one local supporter


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## finicky (29 October 2020)

In for 2,000 more today @ 1.585
Brick by brick, long term hold
Edit: make that 4,000 more in total , had a sitting bid for 2,000 @ 1.63 that I'd forgotten
Profit Guidance 1Q21


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## finicky (5 November 2020)

Added 1,000 EOF today with a long term view. Expensive against current revenue/earnings, but high conviction buy for the future; will double up in the coming global crash. For the buy I redeployed my massive profit from sale today of 1,000 Electro Optic Systems (EOS) bought in April coming out of the CV19 crash, preen preen. Not convinced of a bottom from the chart, might have another leg down.


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## finicky (3 December 2020)

Ecofibre all data daily chart.
Slow like a cruise ship embarked on a long journey, not a jet ski.


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## finicky (11 February 2021)

. . and another _sickening_ blow 🏆🏆
Held


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## Dona Ferentes (11 February 2021)

the AFR headline :
Ecofibre warns on more US disruption, forecasts a full-year loss​_As pharmacies in the United States focus on COVID-19 testing and vaccines, fewer people are buying medicinal cannabis products_.

many apply, few are chosen? How big is the market?


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## finicky (1 March 2021)

Beat the Covid March low today, not many stocks this bad price performance wise. 
The loss in H2 (-5.5m) is tipped to be followed by a loss in H2 (-$1.5m). I will let the thing fully unwind and buy more at some point - will be a chart based hunch as the business progress is too hard to follow.

A few glimpses: the CEO is rumoured to have said that he expects the Hemp Black division to eventually be the company's biggest earner. They use it for various things - it's carbonized hemp - but they can make 'vegan leather' out of it, for instance - Oroton have a handbag coming out that uses it. It can be used in a textile that makes seat coverings for cars and planes. I think the fabric is cooler and anti--microbial. It was for this reason that they acquired a conventional textile manufacturer in the States. They have patents for Hemp Black, actual and pending, in collaboration with Thomas Jefferson Uni in the States.


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## finicky (2 March 2021)

Found out after some searching that a huge number of insider shares are to be released from *escrow* within weeks (screenshot 1). So that now rules out buying until at least late April for me.

Also noticed from the Annual Report how unambitious the board was for the share price going by the performance shares allocated to various senior people. Vesting dates are from 2022-2024 yet the market price hurdles for vesting these free shares range from *$1.50* through to *$2.17* and it looks as though market share price is the *only* hurdle. So why have I been spending my money on them at a much higher price in early 2021? 
M.D/CEO, Eric Wang's allotment of 'performance' shares, screenshot 2.


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## finicky (29 April 2021)

Still accumulating, to my cost, down 40% now. Bought 2,000 more a few days ago @ 1.065, tacked on 2,000 today @ 0.955, then price went down to 0.93. Could be the huge amount of escowed shares that were released to quotation a few weeks ago; they might be starting to seep through. After a decent fy19 and strong fy20 they made a small loss in H1fy21 and expect a similar loss in H2. Covid19 interference with U.S pharmacy sales didn't help, also competition in price. They have a cash buffer.

Hemp foods (Ananda brand you see in s'marts)
Hemp Black (hemp char - mostly for textiles so far, own their own textile factory in U.S)
Hemp Health pharmaceuticals (Ananda brand, only sold in U.S pharmacies so far, trying for TGA S3 approval in Aust)

List of EOF funded research studies for Ananda Health CBD formulations


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## finicky (25 May 2021)

Down another 14% Monday, guess those post escrowed shares are still being dumped and tolerance of holders is crumbling at a rate of knots. Nothing but an Fy21 loss on the horizon. Fleeced by insiders? Will follow the chart to its nadir - it's in an accelerating downtrend 

All Data Weekly


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## valentinas18 (25 May 2021)

Are you purchasing at those prices?


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## finicky (28 May 2021)

^^^ no, haven't added recently.

Highest volume day in EOF's short history (2 yrs) a couple of days ago, follow up has been quite good. Break of recent 2 weeks of downtrend. Too deflated, not calling it.

Daily


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## finicky (2 June 2021)

Might be time to dig my hole a little deeper. Someone(s) stepping into the breach lately. No break of downtrend but the all time weekly shows how big the volume was last week yet the candle body is small. That's good in a downtrend I'd say, buyers sopping up sellers when there has been a massive release of shares from escrow. The daily chart is kicking on. Long term spec play.

Weekly all data






3 Mth Daily


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## finicky (3 June 2021)

Powering - up 17% on low volume, you heard it first here, lol. At least hardly anyone currently wants to sell.


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## finicky (4 June 2021)

Closed up ^ another 20%, I might have got psyched out at the bottom


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## barney (9 June 2021)

Up another 23% to $1.075 today .... Hats off to you @finicky for your persistence/resilience   

I hope it continues and you come out with not only your shirt back

But a couple of nice suits and a Lamborghini a couple of years from now 

No guts no glory at the low end of the Stock Market   ...


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## finicky (9 June 2021)

but @barney  I chickened out right at the bottom - still holding all but didn't add.


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## barney (10 June 2021)

finicky said:


> but @barney  I chickened out right at the bottom - still holding all but didn't add.




Totally understandable ... It looks like it's on the way back now though.

Been a sharp run off the lows so a breather would be normal at this point, so maybe there might be another opportunity to add

(Assuming the fundamentals parallel the chart of course)  I'm not overly familiar with their potential other than its Hemp related.

Good luck with it


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## finicky (29 June 2021)

On the brink of another move down? Less predictable if one infers EOFY tax loss harvesting. Has already given up more than 50% of its prior rally. Low and declining volume which would better befit  a corrective move. All in all though I suspect it is breaking recent support and wil go lower. Still interested in adding, despite doubts, but only near last low around 50c

Daily


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## finicky (14 November 2021)

My only hemp stock other than IDT. Down 55% on this last I looked (5 minutes ago). Haven't learned my lesson as tempted to average down again. The chart has lost its downward momentum with an apparent capitulation back in May with that record volume week where buyers stepped up, resulting in a small bodied candle off 50c.

Recent news:

Experiment on various gynaecological cancers using a now patented CBD formulation (see striking slide pictures). Ecofibre is engaged with research in a number of CBD health studies as well as industrial applications for hemp fibre (Hemp Black)

Thomas Jefferson Uni in the U.S exercised exercised its options for 8m options @ 0.54

A fund manager, Perennial Value Mgt, increased its substantial holding in Oct


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## finicky (16 November 2021)

Why is a pizza box square when the pizza is round and all the little pieces are triangles?
Q. How high are you?
A. Hi,  how are you?


Conducting a field pot sobriety test


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## finicky (9 January 2022)

The time to take another tilt is nigh. Down 65% on this one. First Half report due around 11 Feb.
Weekly chart is showing a series of tiny indecisive (doji) candles with the price and volume basically flat-lining. This offers hope after a brutal downtrend where price has far exceeded the March 2020 Wuhan low. There is no interest in buying or selling this share market disaster at all (company itself is not crap imo, but what do I know - as this thread amply attests). At least we can take satisfaction that senior management will likely dip out on their 2022 performance freebies which only vest at a $1.50 thirty day average share price (VWAP). A contrarian might show an interest here.
I'm reduced yet again to astrology, otherwise known as chart reading and this chart offers the possibility of a double bottom?  Against this, the all data downtrend resistance straight line, currently at 75c, is far from overcome. More sensible would be to wait and give up some of the hoped for upside.

2 Year Weekly


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## finicky (29 March 2022)

Stronger than usual buying. A bid I made 5 days ago @ 0.39 is languishing. Could be making a base here?
Weekly candles have been attractive and positive momentum divergence appearing most noticeably on the daily chart.

Daily





All Data Weekly


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## finicky (7 June 2022)

EOFY, smaashed. Tacked on some more today @ 0.31 trying to pick the bottom, only to see a bid @ 0.285 filled not long later. It's a gamble now on them getting some traction with their several hemp based businesses and becoming profitable post Covid.


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## finicky (14 June 2022)

Sitting stink bid that I forgot about hit @ 0.265
Intraday low 0.26
Cash strapped hemp biotech manufacturer losing money at last Qtrly


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## finicky (11 October 2022)

Up 12% today before the close but to be discounted because of the neglible volume.
This blip though did prompt me to revisit the weekly chart, and as a bottom fisher this chart is very much the sort of chart I like as a high risk punt. I'm not suggesting a buy sentiment to anyone and a review of what I've said on this thread attests to the value of my opinion on it. But if even *one* of my specs had performed well in this cat scat of a year I would have added a few as a nil term, zero exercise price option bet on this loss making company eventually pulling through. What's going on fundamentally with them these days I have no idea except for broad brush images - I avoid reading about my losers.
Got to post on something.

Held

Weekly


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## finicky (17 November 2022)

Pathetic volume makes chart commentary dubious but seems fair to say at least that selling has dried up. Has it formed a base? Gives me that impression - which doesn't preclude another pullback to support @ 20c.
This loss making hemp company has taken on debt to stay afloat. Been a bit of director buying.

Held

Daily with 50,100 dmas


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## finicky (18 November 2022)

Buyers *still* not finding eager sellers. 
Up another 25% on *less than 100,000 volume*. I'm only down 50% on Ecofibre now!🤩

Here's those recent management on market buys that I mentioned:

15 November 2022
Appendix 3Y Change of Director's Interest
Ecofibre Limited (Ecofibre, Company) (ASX:EOF) notes the following share transactions:
- Vanessa Wallace has purchased 100,000 shares at an average price of $0.22 per share.
- Eric Wang has purchased 588,430 shares at an average price of $0.2253 per share.


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## finicky (21 November 2022)

Up another 13% on low volume intraday
Notice that Eric Wang M.D bought another $56k or so on market @ 27c on Nov 16


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