Monday, June 27, 2022

MassRoots Inc (OTCMKTS:MSRT) Builds Out its Assets with Acquisition

MassRoots Inc (OTCMKTS:MSRT) is putting up a good fight but started to lose some value in late trading yesterday; however, the stock is holding at the $0.40 area on a very strong influx of volume, which is generally what you want to see at this point in the pattern. MSRT has been fighting for its niche in a still-forming technology wing of the cannabis patch and still may become a leadership play as the chips fall into place.
To further its case, MSRT just announced the acquisition of CannaRegs, Inc., a leading technology platform that tracks changes in cannabis regulations and taxation at the municipal, state, and federal levels. MSRT has entered into a definitive agreement to acquire CannaRegs in a stock deal valued at approximately $12 million. According to the release, the closing of the acquisition is subject to closing conditions as fully detailed in MSRT Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 23, 2017.
MassRoots Inc (OTCMKTS:MSRT) operates a technology platform for the cannabis community in the United States. The company’s mobile network enables users to share cannabis content to connect with the legalization movement. Its network is accessible as a free mobile application through the iOS App Store and the Google Play marketplace and as a Website at massroots.com.
MSRT also operates MassRoots.com/shop, an e-commerce platform that allows visitors to order MassRoots Inc T-shirts, jars, and stickers; and MassRoots for Business, a free online portal for dispensaries to schedule posts, view analytics, and gain insights into followers. MassRoots, Inc. was founded in 2013 and is headquartered in Denver, Colorado.
MSRT is one of the largest and most active technology platforms for cannabis consumers, businesses, and activists with over 1M registered users.
According to company materials, “MassRoots is one of the largest technology platforms for the regulated cannabis industry. The company’s mobile apps enable consumers to provide community-driven reviews of cannabis strains and products, enabling consumers to make educated cannabis purchasing decisions. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.”
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As noted above, MSRT just picked up CannaRegs, a company that may be critical in helping the California adult-use market stay compliant. The company notes in its release that CannaRegs is recognized for leading the movement with majority female leadership at its helm.
“We hope that this acquisition will expand MassRoots’ compliance offerings, consolidating the most important operations for cannabis businesses into one central platform,” said MassRoots CEO Isaac Dietrich. “We expect with MassRoots’ resources and relationships, we can grow the number of businesses utilizing CannaRegs and significantly increase MassRoots’ contractually-obligated monthly recurring revenue.”
As discussed above, MassRoots is a cannabis social network that allows users to research cannabis strains and product information, locate dispensaries and products, and read the latest in cannabis news. The synergy comes into place by virtue of the fact that CannaRegs software-as-a-service (SaaS) enables dispensary owners, law firms, investors, consultants, and municipalities to track cannabis regulations, both implemented and proposed, in real-time, ensuring they stay compliant with state and local law.
“The cannabis industry is increasingly becoming compliance-centric and even minor changes in municipal regulations can have a significant impact on day-to-day operations. CannaRegs has made it easy for businesses, regulators and attorneys to track regulatory changes in real-time, often for less than the cost of one billable hour,” said CannaRegs Founder and CEO Amanda Ostrowitz, who is also a licensed attorney. “By becoming part of MassRoots’ expanding portfolio of technology offerings, we will be able to realize strong synergies in the development and distribution of our platform. We look forward to aggressively growing our market share in California and other key markets.”
At this time, carrying a capital value in the market of $44.78M, MSRT has virtually no cash on the books, which must be weighed relative to virtually no total current liabilities. MSRT is pulling in trailing 12-month revenues of $979K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 53%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $MSRT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We have been previously compensated up to $10,000 USD for $MSRT advertising, but hold no positions either long or short.

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