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Monday, September 26, 2016 5:49:09 PM
looks like they chit canned a bunch of the potheads but they failed to disclose real numbers while the have no problem stating others numbers
what a joke
never will be able to pay debt and keep up with the burn so stock dilution will kill this joke of a company
http://finance.yahoo.com/news/massroots-fall-2016-outlook-175000906.html
DENVER, Sept. 26, 2016 /PRNewswire/ -- MassRoots, Inc. (MSRT), one of the largest and fastest growing technology platforms for the cannabis industry, is pleased to release the following Chairman's Letter.
MassRoots Shareholders,
MassRoots recently reported in our second quarter financial results that we generated more revenue in a single quarter than all previous quarters combined. Partnered with sizeable reductions in operating expenditures made this summer, we expect that MassRoots will be cash-flow positive on a monthly basis by the end of 2016. Over 75% of sales are expected to come solely from the Colorado and California markets, while the November 2016 elections have the potential to open or expand markets in 8 additional states. Our two closest comparibles, Weedmaps and Leafly, are expected to generate more than $25 million and $15 million, respectively, in digital advertising revenue during 2016. Already with comparible userbases to both of these services, we believe our annual revenue run rate will grow to this range within the next 12 to 18 months.
Product Pipeline
In August 2016, we introduced a dispensary finder within the MassRoots mobile applications and ramped up business on-boarding, connecting our community of over 900,000 cannabis enthusiasts with our dispensary partners in their local area. Within the next few weeks, users will be able to review strains and products, as well as view live prices at local dispensaries. In future iterations, users will be able to rate and discover products based on how well they treat certain ailments (i.e. back pain, joint pain, naseau and other ailments) and seeing which dispensaries have that product in stock. MassRoots aims to dominate the demand-side of the cannabis market, channeling sales to our preferred partners.
User-Growth
We believe we can reach cash-flow positive off of MassRoots' existing user-base and traffic. The problem over the past year was not our userbase, it was that our product was failing to connect users with products and dispensaries effectively. We believe that once product reviews and menu prices are released within the next few weeks, our mobile applications will offer similar capabilities as both Leafly and Weedmaps within a unique social experience. Once we are generating average revenues north of $1 per user within a few weeks of acquisition, we expect to ramp back up our user growth machine. Even with minimal advertising, MassRoots grows by about 30,000 users per month organically and the 2016 elections have the potential to cause the organic growth to increase substantially.
Expense Reductions
From July to September 2016, the Company eliminated $146,000 in monthly expenses by terminating relationships with certain vendors, reducing headcount from 33 to 19 full-time employees, and utilizing new technological tools to achieve better results with fewer resources. As many of these contracts and agreements had 30 or 60-day termination clauses, we expect these expense reductions not to be fully reflected until the fourth quarter of 2016. Even as MassRoots continues to scale its userbase, we do not expect a significant increase in the size of our team as we plan to automate as many processes as possible in a self-service platform for our clients.
2016 Elections
We believe that if California voters pass Proposition 64 (60-31-9) and Florida voters ratify Amendment 2 (70-23-7), it will have significant implications for MassRoots' revenue and user growth. If any combination of Arizona (50-40-10), Nevada (53-39-8), Massachusetts (50-45-5), Maine (53-43-4), North Dakota (Unknown) or Arkansas (58-35-7) also pass cannabis initiatives, it will cause the growth rate to accelerate even faster.
When a state passes a medical or recreational cannabis law, MassRoots is able to start registering users and businesses in that state with minimal marginal cost. Because we are not involved in the production or sale of cannabis, we do not have to build outgrow operations, open retail stores, or have a significant physical presence in the state in order to generate revenue. At the same time, MassRoots' financial model is not tied to the success of a particular location, brand or a particular ballot initiative – we believe we will have a significant percentage of all dispensaries and brands on our platform, making MassRoots a play on the industry as a whole.
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