Creative Learning Corporation (OTCMKTS:CLCN) Formally Completes Final Phase of Transaction

Shares of Creative Learning Corporation (OTCMKTS: CLCN) closed lower by 20% in the previous session.

Market Stats

On Friday, CLCN stock went down 20% to $0.1040 with 18K shares, compared to its average volume of 94K shares. The stock moved within a range of $0.1040 – 0.1040 after opening trading at $0.1040.

Major Details

DriveItAway, Inc and Creative Learning Corporation have officially completed the exchange transaction. The Board of Directors and management team is now exclusively made up of the DriveItAway team, while the former learning business of the company has been redirected towards the former management of Creative Learning Corporation. The Creative Learning Corporation is to be renamed as DriveItAway Holdings, Inc.

Paul Patrizio, is a new addition to the Board of Directors. His career spans more than three decades, as a corporate attorney, an investment banker, a venture capitalist, and a corporate executive, for both public and private companies. He is also a partner at at Patrizio & O’Leary LLP, a law firm in Princeton, NJ that specializes in representing both public and private growth companies, and their investors in corporate transactions and general business matters.

John F. Possumato, CEO of Creative Learning, states that this is a turning point for the company as they can now focus on the excellent opportunities for growth, while fulfilling the unmet transportation needs of credit challenged and entry level employees throughout the United States, and allow all access to the EV future ahead.

He commented that EVs cost 20-40% more than gas vehicles, and potential buyers are hesitant to transition to EVs. The DriveItAway subscription to ownership model ensures that upfront expenses are spread out over a period of months, through rental payments that build towards the down payment. They have the right, but aren’t obligated to buy the rental vehicle. Thus, buyers can “try before they buy”, while experiencing the numerous benefits offered by an EV!

Traders Corner

CLCN stock is trading below the 20-Day and 50-Day Moving averages of $0.1349 and $0.1470 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1646.