Around the time when the nerds, jocks and dweebs suited up for their high school prom, A Clean Slate Inc. (DRWN) got rejected having no one to dance with. Back in late-May, Distressed Asset Acquisition Group stated that although they entered into an agreement to swap 70,000 shares of DRWN stock, about $100 worth, for 10% of theirs. They also had a chance to buy the Company outright for $500,000. However, after they did some homework, they not only decided not to buy them, but didn’t even want the 70,000 shares they already received and were giving them back.
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DRWN Stock Chart
Shares Outstanding: 450.27M
Last: 0.0006, +0.0003 (100.00%)
Average Trade Size: 522,527
Ever since the Company introduced the “Royal Tannenbaum”, Mitchell Tannenbaum as the Company’s new President and Chairman of the Board of Directors, DRWN traded nearly 300 million shares, almost all the outstanding shares in three days. The irony of the election is that Tannenbaum comes to A Clean Slate with 30 years of experience in the financial reporting and business solution sales. Now, even a graduate of Wagner College with a Bachelor of Arts in Accounting can see that the current dollar volume, $59,329, is nearly half the actual Market Cap of the Company. Traders could have united over the past three trading sessions and bought the #2Flusher outright.
About DRWN Stock
A Clean Slate Inc. is primarily engaged in buying “distressed properties.” As a buyer of distressed real estate and mortgages, the company plans to make loans for residential properties where loan to value ratios do not exceed 60 percent. The properties that the company acquires will be rented immediately so that there will be a positive cash flow on all monies invested. Primarily the properties will be in Florida, as the company believes there is liquidity in the Florida real estate market.
Bottom Line: DRWN is a #2Flusher penny stock and anyone left holding the shares come 4pm is gonna find that the keys to today’s gains have been repossessed and the stock has itself become a “distressed property”.
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