DriveItAway Holdings Inc (DWAY)

[upshegrows]

Hummba,

No I haven't bought any shares. Too many concerns for me to feel comfortable in the business model and the people running it. I think this can easily trade lower.

For example Iif you dig you'll see that the past revenue growth was generated through collecting franchise fees and to a much lesser extent, recurring revenue from royalties. But the franchise fees were also generated in a less than ethical way (seed capital = advancing credit card debt). Upon Nicklenson first review only 12% of the franchises had revenue that could create profitability.

I will be watching from the sidelines at this time as I think this could get down in the $.50 range easily.