MassRoots, Inc. (OTCQB: MSRT) offers technology platforms for the cannabis industry and its mobile applications enable consumers to provide community-driven reviews of cannabis strains and products to enable the making of cannabis purchasing decisions. Through mobile applications and their Web portal, users utilize MassRoots to share cannabis content, stay on top with the legalization news and follow the dispensaries that they prefer. The mobile application features dispensary finder and menus; product pages and reviews, and Sponsored Posts 2.0 as well as business dashboards featuring MassRoots’ product data in actionable formats. It focuses on introducing other features for users and indexes the network’s public content on Google for software engine optimization (SEO) value and gains insights into consumer trends by consolidating data from various cannabis consumers.
New legislation is being introduced in the U.S. to legalize marijuana at the federal level. Legal sales are already more than $ 6.7 billion annually and the illicit nature of usage rules out the availability of exact figures, but it is estimated that by the year 2027, 10% of the population could be using marijuana at least once every month. The market is being depressed because of the uncertainty regarding the legality of usage, but this can be eliminated with federal legalization which would increase demand. According to Forbes, legal marijuana sales in North America total $ 6.7 billion in 2016 and these figures are only a small portion of the total sales and consumption of the substance in North America.
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Usage has been steadily increasing for your according to the ” National Estimates of Marijuana Use and Related Indicators”. In 2002, roughly 6.2% of the American population used marijuana at least once in the prior month and this increased to 8.4% in 2014. The best estimates suggest that an annual growth rate of roughly 2.4% is feasible and by this estimate, by 2027, approximately 10% of the population will consume marijuana at least once in any month. The growth rate annually suggested by Forbes of 25% appears to be reasonable.
The company is, as mentioned, a social networking platform for the use of people enthusiastic about marijuana and has announced 1 million registered users as of March 20, 2017. Through the mobile application, consumers can rate products and strains based on efficiency, such as effectiveness in back pain and epilepsy, and provides them with a basis for making good purchasing decisions at local dispensaries. In December 2016, the company implemented an expansion through the acquisition of DDDigital, Inc, which owns Whaxy a cannabis dispensary medical marijuana ordering system. It should be noted that NASDAQ continues to refuse public listing for marijuana companies because of concerns about its legality. The stock is trading at below one dollar, but would have to trade at more than $1 for a public listing. Up to the time of rejection by NASDAQ, the shares were trading in excess of $ 1.67 and this price could be achieved again if there is a change in federal regulations and a new attempt at an IPO. Even if the current Federal legalization attempt fails, it is unlikely that the federal government will be able to successfully oppose states which have already legalized cannabis and the medical marijuana companies who are benefiting.
Recent updates from the company
MassRoots has released an update about the legal cannabis marketplace and its own achievements. The company has reported that so far in 2017, it has raised just under $ 3 million with the exercise of its $ 0.90 warrants. This development resulted in the company achieving its strongest cash position ever. CEO Isaac Dietrich said that the main goal of the company was to expand its market share to 25% to 35% of cannabis clients in regulated cannabis industries during 2017. With increasing usage of cannabis purchasing decisions in the company platform, it can deliver increased volume and traffic to its preferred dispensary partners. The company has developed a strong database of business partners and loyal users to help them to capitalize on the opportunities. MSRT has also released significant upgrades to its mobile applications and has finalized plans for key personnel acquisition. They believe that the reorganization efforts will grow revenue, expand the user base and help in the increase of overall shareholder value. It is also announced the closing of its acquisition, DDDigital and Whaxy.
The bottom line
The company has announced the launch of its updated business portal, which enables businesses to carry out targeted marketing exercises to over 1 million portal users. The businesses can review analytics, schedule posts and carry out management of product data. The company noted that the financial results for FY 2016. Did not contain income from their recent acquisition, which was only completed in the start of FY 2017. The company’s mobile app has been listed once again on Google Play. Most encouragingly, the update reported that all long-term debt has been retired by the company. They also have multiple advertising and branding deals being negotiated with leading brands from the medical cannabis industry.
Source: Broad Street Alerts Editor
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