MassRoots Inc (OTCMKTS:MSRT) released business update on the firm’s achievements and legal cannabis marketplace. The company has more than $2.9 million via warrant exercises in 2017, almost completely from the exercise of the firm’s $0.90 warrants, providing company strongest cash position in its corporate history. It expects reinstatement in Google Play and the release of display ads on its Android applications in February 2017, expanding the revenue channels.
The highlights
In January 2017, MassRoots closed its acquisition of DDDigtal, a web order-ahead and menu organization platform. Since releasing in May 2016, this web ordering platform has completed more than $7 million in volume in 60,000 exclusive transactions. The firm added Tom Angell as the firm’s Senior Political Correspondent in this month and has since improved its blog traffic by almost 18% and obtained remarks from White House Press Secretary Sean Spicer.
MassRoots intends to release its revamped site in March 2017, in expectation of its yearly web traffic rush ahead of the cannabis holiday. Isaac Dietrich, the CEO, reported that the prime goal is increasing company’s market share to 25%-35% of cannabis customers in legalized cannabis markets during 2017.
By mounting the portion of cannabis buying decisions being taken on the MassRoots platform, the management will be able to record increased traffic and volume to preferred dispensary associates. They have spent the past year establishing a strong foundation of loyal users and strategic partners that will enable them to capitalize on the quickly growing legal cannabis industry.
In addition to closing notable upgrades to mobile applications and aligning themselves with industry pioneers, they have also made major hires that will serve key roles in navigating the fast emerging political climate. They expect this framework will drive in revenue growth, increased shareholder value and expansion of our user-base. It should be noted that MassRoots is a leading technology platform in the legalized cannabis industry.
