MassRoots Retires All Remaining Convertible Debt
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Posted On: 03/15/2017 8:27:05 AM
MassRoots Retires All Remaining Convertible Debt
Today at 8:01 AM
Improving Balance Sheet
Strongest cash standing in corporate history positions the company for continued growth as regulated cannabis market continues to rapidly expand
DENVER, CO-- MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, is pleased to announce it has retired all convertible debt on its balance sheet. In addition, MassRoots has received substantial warrant exercises so far in 2017, significantly improving its capitalization table and cash position. The Company has more than 20,000 shareholders according to a non-objecting beneficial owners report and only one shareholder holding more than 5% of outstanding shares.
“Thanks to the strong support we’ve received from our shareholders over the past several months, we’ve been able to retire more than $1.5 million in convertible debt, significantly improve our capitalization table, and raise substantial cash to expand MassRoots’ market share within the rapidly-growing cannabis industry,” stated MassRoots Chairman and CEO Mr. Isaac Dietrich. “The weeks leading up to April 20th (4/20) are the cannabis industry’s holiday season, where dispensaries see significantly higher sales and MassRoots has historically seen a surge in web traffic, user-registrations, and media coverage. We look forward to releasing our revamped website and launching an aggressive user and dispensary on-boarding campaign within the next several weeks to fully capitalize on this holiday season.”
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
Today at 8:01 AM
Improving Balance Sheet
Strongest cash standing in corporate history positions the company for continued growth as regulated cannabis market continues to rapidly expand
DENVER, CO-- MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, is pleased to announce it has retired all convertible debt on its balance sheet. In addition, MassRoots has received substantial warrant exercises so far in 2017, significantly improving its capitalization table and cash position. The Company has more than 20,000 shareholders according to a non-objecting beneficial owners report and only one shareholder holding more than 5% of outstanding shares.
“Thanks to the strong support we’ve received from our shareholders over the past several months, we’ve been able to retire more than $1.5 million in convertible debt, significantly improve our capitalization table, and raise substantial cash to expand MassRoots’ market share within the rapidly-growing cannabis industry,” stated MassRoots Chairman and CEO Mr. Isaac Dietrich. “The weeks leading up to April 20th (4/20) are the cannabis industry’s holiday season, where dispensaries see significantly higher sales and MassRoots has historically seen a surge in web traffic, user-registrations, and media coverage. We look forward to releasing our revamped website and launching an aggressive user and dispensary on-boarding campaign within the next several weeks to fully capitalize on this holiday season.”
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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