Friday, June 24, 2022

Sizing Up the Story for MassRoots Inc (OTCMKTS:MSRT)

MassRoots Inc (OTCMKTS:MSRT) continues to be a key player in the cannabis patch. The company shows some strong financials, and perhaps, has more expandable growth in an intrinsic fashion given the margins on the tech side as a branding play. That said, there are no guarantees here because it’s awfully hard to dig a moat around operations. That makes MSRT stock a very interesting speculative situation. MassRoots recently put out an update on operations, and we thought one excerpt was particularly enlightening.

“Our main objective is increasing MassRoots’ market share to 25-35% of cannabis consumers in regulated cannabis markets during 2017,” stated Mr. Isaac Dietrich, CEO of MassRoots Inc.  “By growing the portion of cannabis purchasing decisions being made on the MassRoots platform, we’ll be able to drive more volume and traffic to our preferred dispensary partners. We’ve spent the past year building a strong foundation of strategic partners and loyal users that will allow us to capitalize on the rapidly growing legal cannabis market.  In addition to making significant upgrades to our mobile applications and aligning ourselves with industry leaders, we have also made key hires that will serve vital roles in navigating the rapidly evolving political climate.  We anticipate this framework will result in revenue growth, expansion of our user-base, and increased shareholder value.”

MassRoots Inc (OTCMKTS:MSRT) trumpets itself as a company that 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.

The company 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 900,000 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, the company just put out a key corporate update. We’ve listed some central excerpts to consider as we continue to work toward understanding how to value this name. Remember that this is a name seeing truly massive sales growth right now, and consistently adding key talent to the roster in both management and board positions:

“MassRoots has raised over $2.9 million through warrant exercises so far in 2017, almost entirely from the exercise of the Company’s $0.90 warrants, giving MassRoots its strongest cash position in corporate history.”

“MassRoots anticipates reinstatement in Google Play and the launch of display ads on its Andriod applications by late February 2017, growing the Company’s revenue channels.”

“In late January 2017, MassRoots completed its acquisition of DDDigtal, d.b.a. “Whaxy,” an online order-ahead and menu management platform. Since launching in May 2016, Whaxy’s online ordering platform has processed over $7 million in volume across 60,000 unique transactions.”

“The Company added Mr. Tom Angell as the Company’s Senior Political Correspondent in early February 2017 and has since increased its blog traffic by nearly 18% and received comment from White House Press Secretary Sean Spicer.”

“MassRoots plans to launch its revamped website in early March 2017, in anticipation of its annual web traffic surge ahead of the 4/20 cannabis holiday.”

Traders will note -10% peeled out of share values of the stock over the past week of action, along with many other high-traffic names in the space (clearly in reaction to comments from the White House on Friday about Federal interference in recreational laws for states).

Market participants may want to pay attention to this stock. MSRT has evidenced sudden upward volatility on many prior occasions. In addition, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 19% over what the stock has registered over the longer term. Since we last covered the name, MSRT stock has moved 18.6% higher.

Earning a current market cap value of $62.3M, MassRoots has a reserve ($127K) of cash on the books, which is balanced by about $768K in total current liabilities. MSRT is pulling in trailing 12-month revenues of $945K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 243.1%. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of MSRT stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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