MassRoots Issues 2018 Annual Shareholder Letter
April 19 2018 - 8:15AM
InvestorsHub NewsWire
MassRoots Issues 2018 Annual
Shareholder Letter
MassRoots aims to increase the
number of dispensary clients through a revamped business portal and
a rewards digital instrument
Denver, CO -- April 19, 2018 -- InvestorsHub NewsWire -- MassRoots,
Inc. ("MassRoots" or the "Company") (OTCQB:MSRT),
one of the leading technology platforms for the regulated cannabis
industry, today announced it had released its 2018 Annual
Shareholder Letter, available below.
Dear MassRoots Shareholders,
With key cannabis markets like California and Nevada experiencing
record growth, now is an ideal time to provide you with an update
on MassRoots’ recent developments as well as our upcoming events
and milestones. Throughout the coming weeks, we plan to:
- Increase our market share of dispensaries with our
substantially upgraded business portal;
- Expand
our strategic partnerships with leading industry brands;
and
- Introduce a digital instrument to be issued by
MassRoots Blockchain Technologies, Inc., a wholly-owned subsidiary
of the Company, aimed at encouraging key behaviors within the
MassRoots’ platform, such as high-quality reviews of cannabis
strains.
Management believes this digital instrument will incentivize user
growth and stimulate the platform’s overall activity. In addition,
management believes that the digital instrument may also one day be
used by businesses within the cannabis industry to, among other
things, develop customer loyalty programs to award our digital
instruments to consumers for purchasing certain products or
reaching certain spending/order levels. More information on our
digital instrument is available on MassRootsBlockchain.comand the
Company's Annual Report on Form 10-K for the year ended December
31, 2017 filed on April 17, 2018.
Recent MassRoots Updates and Upcoming
Events
- Introduced a restructured mobile application on
Apple and Google devices which will serve as a solid foundation for
new features and utilities, including our digital
instrument.
- Successfully raised $942,500 in convertible
instruments assigned to MassRoots Blockchain Technologies,
Inc.
- Received proceeds of approximately $4.75 million
from the sale of our common stock in the first quarter of
2018.
- Fully
retired all outstanding debts convertible into common
stock.
- Strengthened our Board of the Directors with the
appointment of Graham Farrar, a seasoned software and California
cannabis industry veteran.
- Anticipate introduction of our revamped dispensary
portal as our primary revenue-generating product.
New Dispensary Portal
MassRoots’ revamped dispensary portal is expected to enter private
beta testing with several of the nation’s top dispensaries in the
coming weeks. Through this service, dispensaries are expected to
have access to a wide-array of marketing channels, utilities, and
analytics to better connect with the millions of cannabis consumers
in regulated markets as well as access insightful data on their
local audience. To request access to the private beta version of
MassRoots’ dispensary portal, please visit business.massroots.com.
More information is available by calling (720) 634-2444 or emailing
dispensaries@massroots.com.
Our near-term business objective is to have 1,000 dispensaries and
ancillary businesses, such as vaporizer companies, paying us
between $420 to $1,000 per month by the end of 2018, which we
believe will enable our business to generate positive-cash flows on
a monthly basis. ArcView Market Research estimates there are
currently about 1,700 dispensary locations in the United States
which is estimated to grow to 2,500 dispensaries over the next 18
months.
Unified MassRoots Board and Leadership Team
During the past several months, MassRoots has strengthened its
leadership team with the appointment of Graham Farrar, a seasoned
software and California cannabis industry veteran, to its Board of
Directors and Jesus Quintero, CPA, previously of
PricewaterhouseCoopers and Deloitte & Touch, as Chief Financial
Officer.
The newly appointed members of the Company’s Board of Directors and
its management team are committed to building long-term,
sustainable shareholder value and are unified in their support of
the vision and plan outlined in this shareholder update.
Strategic Partnerships
We continue to partner with some of the leading companies in the
cannabis industry. We are a shareholder of High Times Holdings
Corporation, which recently announced its plans to become a
public-traded company through a Regulation A+ offering. We are also
a shareholder of CannaRegs, Inc., which continues to impressively
scale its clientele and revenues in the California market. We are
constantly evaluating opportunities to partner with best-in-class
companies in the cannabis industry which we believe may further
expand our footprint and create new revenue-generating channels for
our business.
Regards,
/s/ Isaac Dietrich
Isaac Dietrich
Chairman & Chief Executive Officer
MassRoots, Inc.
About MassRoots
MassRoots, Inc. is one of the leading technology platforms for the
regulated cannabis industry. Powered by more than one million
registered users, the Company's mobile apps empower consumers to
make educated cannabis purchasing decisions through
community-driven reviews. With a significant market share of
medical cannabis patients in certain markets and more than 35,000
shareholders, the Company believes it is uniquely positioned to
best serve the needs of the cannabis industry. For more
information, please visit MassRoots.com/Investors and review MassRoots' filings with the U.S.
Securities and Exchange Commission.
Forward-looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words "could," "believe,"
"anticipate," "intend," "estimate," "expect," "may," "continue,"
"predict," "potential," "project" and similar expressions that are
intended to identify forward-looking statements. All
forward-looking statements speak only as of the date of this press
release. You should not place undue reliance on these
forward-looking statements. Although we believe that our plans,
objectives, expectations and intentions reflected in or suggested
by the forward-looking statements are reasonable, we can give no
assurance that these plans, objectives, expectations or intentions
will be achieved. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from historical experience and present expectations or projections.
Actual results to differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. Forward-looking statements also
are affected by the risk factors described in the Company's filings
with the U.S. Securities and Exchange Commission. Except as
required by law, we undertake no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events.
SOURCE: MassRoots, Inc.
Contact (For Press Only):
Isaac Dietrich
757.705.4238
Isaac@MassRoots.com