MassRoots Issues Shareholder Letter
Highlights Recent Strategic Milestones, Projects Positive Cash-Flow in Early 2017
DENVER, January 4, 2017 -- MassRoots, Inc. (OTCQB: MSRT ) one of the leading technology platforms for the cannabis industry, announced today that the Company mailed a letter to its shareholders updating them on recent developments, financial results, and new business opportunities. Highlights include:
ArcView Market Research & New Frontier Financial project the regulated cannabis industry will grow from $5.7B in 2015 to $23.1B in 2020, a compound annual growth rate of 35%.
MassRoots generated $794,000 in revenue as of September 30, 2016, an increase of 1,140% when compared to $64,000 in revenue during the same period in 2015.
Entered into a partnership with MJ Freeway – the largest cannabis seed-to-sale tracking platform that has processed more than $5 billion in cannabis transactions and has close to 50% market share.
Current growth rates show MassRoots is on track to be cash flow positive on a monthly basis starting in early 2017.
On November 8, 2016, 8 states representing 22% of the United States population voted to regulate the production and sale of cannabis.
MassRoots currently has 900,000 users out of an estimated 10 million regular cannabis consumers residing in a state with medical or recreational cannabis laws.
Entered into a definitive agreement to acquire DDDigtal, Inc. “Whaxy” to expand MassRoots’ offerings to dispensaries and help grow its quarterly revenues.
Closed a $5 million Registered Offering in October 2016, leaving MassRoots with its strongest cash on hand in its corporate history, and has been bolstered by more than $500,000 in warrant exercises since November 1, 2016.
Recruited Robert Pullar as MassRoots’ Chief Financial Officer.
“Management is extremely pleased with the recent achievements and growth trajectory that MassRoots is currently experiencing,” stated Mr. Isaac Dietrich, Founder and CEO of MassRoots, Inc. “We believe that now is a perfect time to proactively communicate our strategic business model with the investment community. We are in the midst of an exciting stage in the industry; new regulations and studies have made cannabis more widely accepted than ever before. MassRoots is confident that it is ideally positioned to leverage the numerous opportunities within the rapidly expanding legal cannabis market. Going forward, we are committed to adding users and features to our best-in-class technology platform while remaining focused on our primary goal of improving shareholder value.”
To view the MassRoots Shareholder Letter please visit: https://massroots.com/investors/MassRoots_Bro...r_2016.pdf
This information does not constitute an offer to sell or a solicitation of an offer to buy securities or assets of MassRoots. All information presented herein with respect to the existing business and the historical operating results of MassRoots and estimates and projections as to future operations, the success of events that we are attending, and other information, is based on materials prepared by the management of MassRoots and involve significant elements of subjective judgment and analysis which may or may not be correct. While the information provided herein is believed to be accurate and reliable, MassRoots makes no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. In furnishing this information, MassRoots reserves the right to amend or replace some or all of the information herein at any time and undertakes no obligation to provide the recipient with access to any additional information.
Forward-looking Statements:
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of MassRoots' advertising business, partnerships, and our related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially from those anticipated by the statements made herein include, among others, the success of our advertising initiatives, the continued growth and engagement of our user base, our ability to work with partners of the Company, and unforeseen technical or other problems or issues that could affect the performance of our products or our business. Further information on our risk factors is contained in our filings with the SEC, including the Amendment to our Registration Statement on Form S-1 filed with the SEC on August 9, 2016. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Any forward-looking statement made by us herein speaks only as of the date on which it is made. MassRoots undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements.
Our mailing address is:
MassRoots
1624 Market St
Ste 201
Denver, CO 80202
Highlights Recent Strategic Milestones, Projects Positive Cash-Flow in Early 2017
DENVER, January 4, 2017 -- MassRoots, Inc. (OTCQB: MSRT ) one of the leading technology platforms for the cannabis industry, announced today that the Company mailed a letter to its shareholders updating them on recent developments, financial results, and new business opportunities. Highlights include:
ArcView Market Research & New Frontier Financial project the regulated cannabis industry will grow from $5.7B in 2015 to $23.1B in 2020, a compound annual growth rate of 35%.
MassRoots generated $794,000 in revenue as of September 30, 2016, an increase of 1,140% when compared to $64,000 in revenue during the same period in 2015.
Entered into a partnership with MJ Freeway – the largest cannabis seed-to-sale tracking platform that has processed more than $5 billion in cannabis transactions and has close to 50% market share.
Current growth rates show MassRoots is on track to be cash flow positive on a monthly basis starting in early 2017.
On November 8, 2016, 8 states representing 22% of the United States population voted to regulate the production and sale of cannabis.
MassRoots currently has 900,000 users out of an estimated 10 million regular cannabis consumers residing in a state with medical or recreational cannabis laws.
Entered into a definitive agreement to acquire DDDigtal, Inc. “Whaxy” to expand MassRoots’ offerings to dispensaries and help grow its quarterly revenues.
Closed a $5 million Registered Offering in October 2016, leaving MassRoots with its strongest cash on hand in its corporate history, and has been bolstered by more than $500,000 in warrant exercises since November 1, 2016.
Recruited Robert Pullar as MassRoots’ Chief Financial Officer.
“Management is extremely pleased with the recent achievements and growth trajectory that MassRoots is currently experiencing,” stated Mr. Isaac Dietrich, Founder and CEO of MassRoots, Inc. “We believe that now is a perfect time to proactively communicate our strategic business model with the investment community. We are in the midst of an exciting stage in the industry; new regulations and studies have made cannabis more widely accepted than ever before. MassRoots is confident that it is ideally positioned to leverage the numerous opportunities within the rapidly expanding legal cannabis market. Going forward, we are committed to adding users and features to our best-in-class technology platform while remaining focused on our primary goal of improving shareholder value.”
To view the MassRoots Shareholder Letter please visit: https://massroots.com/investors/MassRoots_Bro...r_2016.pdf
This information does not constitute an offer to sell or a solicitation of an offer to buy securities or assets of MassRoots. All information presented herein with respect to the existing business and the historical operating results of MassRoots and estimates and projections as to future operations, the success of events that we are attending, and other information, is based on materials prepared by the management of MassRoots and involve significant elements of subjective judgment and analysis which may or may not be correct. While the information provided herein is believed to be accurate and reliable, MassRoots makes no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. In furnishing this information, MassRoots reserves the right to amend or replace some or all of the information herein at any time and undertakes no obligation to provide the recipient with access to any additional information.
Forward-looking Statements:
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of MassRoots' advertising business, partnerships, and our related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially from those anticipated by the statements made herein include, among others, the success of our advertising initiatives, the continued growth and engagement of our user base, our ability to work with partners of the Company, and unforeseen technical or other problems or issues that could affect the performance of our products or our business. Further information on our risk factors is contained in our filings with the SEC, including the Amendment to our Registration Statement on Form S-1 filed with the SEC on August 9, 2016. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Any forward-looking statement made by us herein speaks only as of the date on which it is made. MassRoots undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements.
Our mailing address is:
MassRoots
1624 Market St
Ste 201
Denver, CO 80202
