Migration to Franwell’s METRC System Effective November 1, 2017
DENVER, Sept. 15, 2017 /Weed Wire/ — MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, is pleased to report it is planning to expand its point-of-sale system, MassRoots Retail (formerly known as Odava), to the Nevada cannabis market. On September 13, 2017, Nevada regulators announced all state-licensed cannabis businesses must file regulatory reports via Franwell, Inc.’s METRC system, replacing MJ Freeway’s Leaf Data Systems, effective November 1, 2017.
MassRoots Retail’s main regulatory integration is with the METRC system and is able to provide its point-of-sale system in states utilizing METRC with minimal infrastructure modifications. State regulatory agencies currently utilizing or planning to utilize METRC are: Colorado, California, Oregon, Alaska, Nevada, Ohio and Michigan. Nevada’s decision to switch to the METRC system presents a unique growth opportunity for MassRoots to on-board these dispensaries to its point-of-sale software as well as its software services.
“We believe MassRoots is uniquely positioned to serve cannabis-related businesses in medical and recreational cannabis market across the United States. We estimate our market-share of cannabis consumers on our mobile applications is among the top three in the country, giving us one of the largest and most comprehensive data sets in the cannabis space,” stated MassRoots CEO Isaac Dietrich. “This data provides MassRoots and our clients with knowledge very few people have – and we believe the necessary insight to give MassRoots’ clients an advantage over their competitors. We look forward to partnering with and engaging the leading dispensaries in Nevada as we continue to execute on our strategic business initiatives.”
ArcView Market Research projects $629 million in annual regulated recreational and medicinal cannabis sales will occur in Nevada by 2020.
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. Its compliance and point-of-sale system, MassRoots Retail, enables cannabis-related businesses to streamline their retail operations and manage compliance reporting to state regulators. With a significant market share of medical cannabis patients in certain markets and more than 25,000 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 MassRoots, Inc.’s filings with the U.S. Securities and Exchange Commission.
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.
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.