Ever since A Clean Slate Inc. (PINK:DRWN) announced it had acquired Vigilant Legal Solutions (VLS) on Aug. 9, it has kept silent, which is why we have not heard anything from DRWN for two months already. Yet, third parties ignored this fact and decided to indulge in a one-day promotional campaign in favor of DRWN stock.
Evaluated at $50 thousand, the current promotion is expected to pump DRWN stock in the forthcoming session. The paid advertisement came after the end of yesterday’s session when DRWN went up 9% to close at a four-week high of $0.035 per share. Moreover, DRWN scored a volume record as well, shifting an eight-week high of 840 thousand shares. The latter was also 28 times higher than the daily average trading volume of 30,948.
A Clean Slate, Inc. has a pretty bizarre mission – to help individuals and households who experience financial difficulties overcome their problems and get ‘a clean slate’ by becoming ‘productive members of a Financial Well-Being Community’. All that financially distressed people need to get their lives fixed seems to be a special software platform developed by DRWN which can be used at home.
While the aforementioned description seems fairly idealistically-tinged and definitely works good as a home page, what it lacks most is the customer feedback, which questions the efficiency of the ability of this proprietary software platform to perform miracles.
Albeit with a little delay, DRWN filed a full-on 10-Q report for the second calendar quarter of 2011. As of Jun. 30, the company’s balance sheet looked like this:
- $5,908 in cash;
- negative working capital in excess of $700 thousand;
- $14,784 in revenue and a quarterly net loss nearing $63 thousand.
