DENVER, Oct. 7, 2016 /Weed Wire/ — MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, reports that all notes issued pursuant to the Company’s March 2016 offering have been repaid in full and the Company has no further obligations under the notes of that offering.
“We’re excited to have this debt fully repaid and behind us. We expect MassRoots will be cash-flow positive on a monthly basis by the end of the year,” stated MassRoots CEO Isaac Dietrich. “As a technology company, MassRoots can scale and generate revenue in every state with a medical or adult-use cannabis law. The 2016 election cycle has the potential to significantly expand MassRoots’ userbase and revenues.”
Recent polling indicates strong support for cannabis initiatives on the 2016 ballot: California (Recreational 60-36-4), Arizona (Recreational 50-40-10), Maine (Recreational 53-38-9), Massachusetts (Recreational 53-40-7), Nevada (Recreational 57-33-10), Florida (Medical 73-22-5), Arkansas (Medical 49-43-8), North Dakota (Medical – Unknown), and Montana (Expanding Medical Cannabis Law – Unknown).
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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.