DENVER, May 26, 2015 /PRNewswire/ -- MassRoots (OTCQB: MSRT), one of the largest and most active social networks for cannabis consumers with 325,000 users, is pleased to announce it has crossed 500 companies posting on its network since launching MassRoots for Business in early March. In Colorado, MassRoots now has 174 of the 510 dispensaries, or 34.1%, using its network to keep their customers updated. During 2014, these 510 dispensaries in Colorado did $699.2 million in cannabis sales according to the Colorado Department of Revenue.
"Right now, our main focus is getting as many dispensaries in Colorado utilizing MassRoots for Business to schedule posts and view analytics for free; during Q3 2015, we expect to expand it's functionality to allow dispensaries to sponsor posts in users' newsfeeds, integrate Flowhub, and begin to monetize our network," stated MassRoots CEO Isaac Dietrich. "We believe whichever apps and services are able to capture the Colorado market this year will expand to the rest of the country as legalization progresses. We are positioning MassRoots to be one of the leading software brands for consumers and businesses in the cannabis industry."
This Thursday, May 28, Mr. Dietrich has been asked to speak on the, "Blazing New Trails: Investing in the Marijuana Industry," panel at the Marcum MicroCap Conference, which is expected to draw more than 2,000 attendees. Additionally, MassRoots will have a non-deal roadshow in New York City on May 29, present at the LD Micro Invitational in Los Angeles June 1 to 3, and have a non-deal roadshow in Los Angeles on June 4 and 5.
MassRoots is one of the largest and most active communities of cannabis consumers with 325,000 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 CNN, CNBC, Fortune, BBC, 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 are 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. Nothing contained herein is or should be relied upon as a promise or representation as to the future.
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of MassRoots' advertising business and our related advertising 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, 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 our Registration Statement on Form S-1 filed with the SEC on August 26, 2014. 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. Any forward-looking statement made by us herein speaks only as of the date on which it is made. 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.