By GlobeNewswire, January 04, 2016, 08:00:00 AM EDT
DENVER, Jan. 04, 2016 (GLOBE NEWSWIRE) -- MassRoots, Inc. (OTCQB:MSRT), one of the largest and fastest growing technology platforms for the cannabis industry, will be presenting on stage at the Consumer Electronics Show (CES) this Friday, January 8, 2016 as part of the semi-finals for the Extreme Tech Challenge. Through its mobile applications and website, people use MassRoots to share their cannabis experiences, discover the best dispensaries, and stay connected with the legalization movement.
MassRoots' presentation is expected to cover the following topics:
- At least 8 states are expected to have some form of cannabis legalization on the ballot during 2016, including California, Nevada, Massachusetts, and Florida. With more than 675,000 users on its platform, MassRoots is uniquely positioned to help these initiatives pass by organizing legalization events and informing users of key voter registration deadlines. ArcView Market Research projects this year's elections could cause the regulated cannabis industry to grow from $3.3 billion in 2015 to $10.8 billion by 2019.
- In mid-August 2015, MassRoots started generating revenue through advertising, allowing dispensaries and cannabis brands to reach their target consumers. MassRoots CEO Isaac Dietrich will explore the problems faced by cannabis businesses - including advertising bans by Facebook and Google - as well as the catalysts fueling MassRoots' revenue growth.
- MassRoots has submitted an application to uplist to the Nasdaq, with the goal of being one of the first cannabis technology companies listed on a national exchange. With a market capitalization of $51 million and more than 2,000 shareholders as of December 31, 2015, MassRoots currently satisfies many of the Nasdaq's qualifications and expects to meet the remaining in the near future. However, even if MassRoots meets all the qualifications, there can be no guarantee Nasdaq will accept MassRoots' application.
"We believe 2016 will be the year cannabis breaks into the mainstream. With close to 40% of the United States population voting on the medicinal or adult-use of cannabis this year, we view this as our golden window of opportunity to establish MassRoots as one of the preeminent technology platforms for the cannabis industry," stated MassRoots CEO Isaac Dietrich. "Technology and big data have transformed countless industries and we believe the same will hold true for the cannabis sector. We are extremely grateful for the opportunity to share our vision for the cannabis industry at one of the largest gatherings of technology enthusiasts, investors, and media in the world."
On January 8, 2016between 2:00 and 4:00pm PST, MassRoots will be presenting on stage at CES to a panel of distinguished judges, media outlets, and technology enthusiasts as part of the semi-finals for the Extreme Tech Challenge. If selected as one of the top 3 finalists, MassRoots will be invited to pitch Sir Richard Branson on Necker Island in early February 2016. For more information, please see the Extreme Tech Challenge's recent press release and the official CES schedule.
MassRoots is one of the largest and most active technology platforms for cannabis consumers, businesses and activists with over 675,000 users. It is proud to be affiliated with the leading organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. MassRoots has been covered by Fox Business, CNBC, Fortune,MarketWatch, Cannabist and the New York Times. For more information, please visit Corporate.MassRoots.com.
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, potential 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 S-1 Registration Statement filed on October 29, 2015. 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. 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.