Replies to post #8745 on Greenwave Tech Solutions Inc (GWAV)

[Ole Broke Azz]

been pretty apparent for a long time

MassRoots: A Sustainable Business Model Remains Elusive
Jun. 12, 2019 7:42 AM ET | About: MassRoots, Inc. (MSRT)

Summary
MassRoots' results for its first quarter of 2019 continued its well-entrenched abysmal history.

With total cash and short term Investments of $485 remaining on its balance sheet, and a substantial negative working capital MassRoots will struggle to remain a going concern.

Heavily dilution will be necessary to plug its short term liabilities and fund its continued cash burn.

MassRoots' results for its quarter ending March 2019 failed to address some of the key pain points for shareholders in recent years. The company continued to generate minuscule revenue, a figure which was in turn entirely dwarfed by cash burn during the quarter.

The results underlie the collapse in shareholder confidence over the last few years. MassRoots continues to struggle to find an actual business model and has pivoted from being a social media company to a dispensary finder, blockchain company, cannabis rewards company, and now to a cannabis logistics and supply chain company with the recently announced acquisition of COWA Science.

Its ongoing status as a going concern is an ominous sign of the current era of cheap dumb money stemming from a decade long bull run and the low interest rate environment.

A Feather In The Wind
MassRoots' financial results for the quarterly period ended 31st March 2019, leave a lot to be desired. While there were a number of positive developments like the sequential decrease in cash burn to $286,580, from $705,550 and $1.28 million in the preceding quarters, the results continued to showcase the intrinsically unsustainable business model run by MassRoots.