at the hands of the San Miguel Beermen and the Talk 'N Text Phone Pals. Despite a 3–5 record, Welcoat lost their next 10 games along with injuries to key players that eventually ended their campaign with a 3–15 record, the only team to be eliminated after the elimination round of the 2006-07 PBA Philippine Cup. During the 2007 PBA Fiesta Conference, the Dragons had two active imports, Wayland White and assistant coach Alex Compton. The other imports, Charles Clark and Rob Sanders, preceded White. The Dragons were again the first team to be eliminated in the Fiesta Conference by the hands of the Purefoods Tender Juicy Giants. The Dragons finished with a 7–29 record for the 2006–07 PBA season and was awarded the first overall draft pick after they won the draft lottery. They eventually selected Joe Devance of University of Texas at El Paso. Before the start of the 2008 PBA Fiesta Conference, Leo Austria resigned as head coach of the Dragons citing that the management wanted a new direction. Then-assistant coach Caloy Garcia was named interim head coach on March 18 and would eventually become the team's official head coach. The Dragons finished with another 7–29 record and failed to qualify again for the playoffs in either of the two conferences. Rain or Shine Elasto Painters (2008–present) 2008–2009 season In 2008, a new name was introduced for the team – Rain or Shine Elasto Painters. At the 2008 PBA Draft held at Market! Market!, Taguig, the team drafted Gabe Norwood of George Mason University as the first overall pick. In the 2nd round, the Elasto Painters grabbed point guard Tyrone Tang of De La Salle University. 24 hours after the draft proper, the team traded 2007 first overall pick Joe Devance and their 2009 and 2010 second-round picks to the Alaska Aces in exchange for Alaska's 2009 1st-round pick, number five overall Solomon Mercado, and veteran Eddie Laure. They defeated Air21 on their first game of the 2008–2009 Philippine Cup, 120–102 to spark a surprise showing at the 2008-09 PBA Philippine Cup. The Elasto Painters were aiming for a semifinal berth when they were defeated by the eventual champions Talk 'N Text Tropang Texters in the elimination round. With a record of 10–8, they faced the defending champions Sta. Lucia Realtors in the quarterfinals where they were swept 2–0 in the best-of-3 series, with Norwood and Mercado