$MSRT/MassRoots Provides Business Update and Compa
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Posted On: 02/17/2017 9:06:45 AM
$MSRT/MassRoots Provides Business Update and Company Outlook
Management highlights recent operational achievements and trajectory of regulated cannabis market
DENVER, Feb. 17, 2017 /PRNewswire/ -- MassRoots, Inc. (OTCQB: MSRT ), one of the leading technology platforms for the cannabis industry, announced today a general business update on the Company and legal cannabis marketplace. Highlights include:
Recent Company Highlights
MassRoots has raised over $2.9 million through warrant exercises so far in 2017, almost entirely from the exercise of the Company's $0.90 warrants, giving MassRoots its strongest cash position in corporate history.
MassRoots anticipates reinstatement in Google Play and the launch of display ads on its Andriod applications by late February 2017, growing the Company's revenue channels.
In late January 2017, MassRoots completed its acquisition of DDDigtal, d.b.a. "Whaxy," an online order-ahead and menu management platform. Since launching in May 2016, Whaxy's online ordering platform has processed over $7 million in volume across 60,000 unique transactions.
The Company added Mr. Tom Angell as the Company's Senior Political Correspondent in early February 2017 and has since increased its blog traffic by nearly 18% and received comment from White House Press Secretary Sean Spicer.
MassRoots plans to launch its revamped website in early March 2017, in anticipation of its annual web traffic surge ahead of the 4/20 cannabis holiday.
"Our main objective is increasing MassRoots' market share to 25-35% of cannabis consumers in regulated cannabis markets during 2017," stated Mr. Isaac Dietrich, CEO of MassRoots Inc. "By growing the portion of cannabis purchasing decisions being made on the MassRoots platform, we'll be able to drive more volume and traffic to our preferred dispensary partners. We've spent the past year building a strong foundation of strategic partners and loyal users that will allow us to capitalize on the rapidly growing legal cannabis market. In addition to making significant upgrades to our mobile applications and aligning ourselves with industry leaders, we have also made key hires that will serve vital roles in navigating the rapidly evolving political climate. We anticipate this framework will result in revenue growth, expansion of our user-base, and increased shareholder value."
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
Management highlights recent operational achievements and trajectory of regulated cannabis market
DENVER, Feb. 17, 2017 /PRNewswire/ -- MassRoots, Inc. (OTCQB: MSRT ), one of the leading technology platforms for the cannabis industry, announced today a general business update on the Company and legal cannabis marketplace. Highlights include:
Recent Company Highlights
MassRoots has raised over $2.9 million through warrant exercises so far in 2017, almost entirely from the exercise of the Company's $0.90 warrants, giving MassRoots its strongest cash position in corporate history.
MassRoots anticipates reinstatement in Google Play and the launch of display ads on its Andriod applications by late February 2017, growing the Company's revenue channels.
In late January 2017, MassRoots completed its acquisition of DDDigtal, d.b.a. "Whaxy," an online order-ahead and menu management platform. Since launching in May 2016, Whaxy's online ordering platform has processed over $7 million in volume across 60,000 unique transactions.
The Company added Mr. Tom Angell as the Company's Senior Political Correspondent in early February 2017 and has since increased its blog traffic by nearly 18% and received comment from White House Press Secretary Sean Spicer.
MassRoots plans to launch its revamped website in early March 2017, in anticipation of its annual web traffic surge ahead of the 4/20 cannabis holiday.
"Our main objective is increasing MassRoots' market share to 25-35% of cannabis consumers in regulated cannabis markets during 2017," stated Mr. Isaac Dietrich, CEO of MassRoots Inc. "By growing the portion of cannabis purchasing decisions being made on the MassRoots platform, we'll be able to drive more volume and traffic to our preferred dispensary partners. We've spent the past year building a strong foundation of strategic partners and loyal users that will allow us to capitalize on the rapidly growing legal cannabis market. In addition to making significant upgrades to our mobile applications and aligning ourselves with industry leaders, we have also made key hires that will serve vital roles in navigating the rapidly evolving political climate. We anticipate this framework will result in revenue growth, expansion of our user-base, and increased shareholder value."
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
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