Replies to post #9618 on A Clean Slate Inc (DRWN)

[Swornim]

U seriously think so? On what basis , who is overseeing those numbers reporting?

[rrojarom]

... not sure... I read that as that $810k debt we thought Oshana had was not the dilution... but it was nearly doubled and given to CF3 Enterprises $1.4mil...

8 of 10 billion shares outstanding... I do not see the 5.4bil that are supposed to be restricted on this filing...

Did Ricky cash out?

Where’s the mention of the $3mil raised?

[rrojarom]

You could be absolutely correct and I’m just overreacting to this statement...

“We have decided to terminate the audit process and will seek alternative PINK status with OTC Markets and remove the STOP sign. We will not file an S-1 and will not seek fully reporting registration status at this time. The company will instead focus on increasing market share in its marketplace and increasing revenue streams organically”

[rrojarom]

Positives...

“REVENUE RECOGNITION The Company considers revenue recognizable when persuasive evidence of an arrangement exists, the price is fixed or determinable, goods or services have been delivered, and collectability is reasonable assured. The company recognized operating revenue of $978,049.87 as of September 30, 2017. “

We have an extensive growth plan to grow our emergency and non-medical emergency transportation services (NMET) statewide and ultimately nationally and expand our services to include EMT home treatment.
We currently operate in Houston, and San Antonio, Texas and its surrounding counties throughout the State of Texas, which has ample opportunity for growth and expansion.
Since closing the acquisition of United Ambulance we have been focused on organic growth through negotiating new client contracts with nursing home facilities.
We have 26 employees, skilled qualified EMT’s, internal billing department and we are looking to hire additional support staff for new contracts.

Liquidity and Capital
Our acquisition of United Ambulance, LLC generates $1.2 Million annual operating revenue.
We are going through underwriting to obtain a receivables financing facility as well which will help with immediate growth initiatives.
The company has sufficient liquidity and working capital to continue operations as a going concern.

Resources Assets and Liabilities
As of September 30, 2017 the company had consolidated assets of consisting of $34,483.83 wheel chair receivables, $240,000 insurance claims receivables, $115,638 fixed assets, $36,480 Cash in bank, and $1,200,000 in Goodwill.
The company owns 4- ambulances and 7-wheel chair lift vans. Management values the company’s goodwill at $1.2 Million based upon 1times revenue including intangibles such as long term contracts and receivables.