DENVER, April 26, 2015 /PRNewswire/ -- MassRoots (OTCQB: MSRT), one of the largest and most active social networks for the cannabis community, is pleased to announce it is partnering and taking an equity position in a full seed-to-sale system, which is currently operating in stealth under the name Flowhub during private beta. Over the coming weeks, the MassRoots and Flowhub development teams will be integrating their systems, expanding the services available to MassRoots' users and dispensaries.
"The seed-to-sale software market is currently dominated by MJ Freeway and BioTrackTHC, two antiquated systems that regularly crash and impede dispensary and grow facility operations," stated MassRoots CEO Isaac Dietrich. "By partially combining MassRoots with a seed-to-sale system, we will give MassRoots' users access to live pricing, inventory, and an order ahead system. At the same time, Flowhub will be streamlining dispensaries' operations and enabling them to target ads to specific customers based on purchasing patterns and social activity."
A month ago, MassRoots had an estimated 100 dispensaries actively posting on its network; today, that has increased to over 300, including the nation's leading dispensaries: Native Roots, MiNDFUL, The Clinic, BuddyBoyBrands, Green Solution, Good Chemistry, Denver Relief, Natural Remedies and Harborside Health Center. Our main focus is to get 1,000 dispensaries actively using MassRoots for Business to schedule posts and view analytics by early summer; during Q3 2015, we will expand it's functionality to include promoted posts and introduce Flowhub.
"We are combining the data from cannabis grow operations, point-of-sale systems and the leading cannabis social network in one platform," stated Flowhub CEO Kyle Sherman. "This is some of the most important data in the entire cannabis industry. It will allow dispensaries and grow operations to streamline their operations, optimize profit margins and monitor consumer trends to anticipate demand for particular products and strains."
We believe MassRoots' two closest competitors are Leafly and WeedMaps, a strain resource guide and dispensary locator service, respectfully. As services and not social networks, they lack the daily and weekly recurring usage that drives long-term advertising and shareholder value. MassRoots expects to exceed Leafly's and WeedMaps' current monthly revenues within the next 18 months.
While MassRoots is rapidly expanding its userbase in every state with medical cannabis laws, we are primarily focused on monetizing the Colorado market in 2015. This will allow us to focus our limited budget and resources on the most important and mature cannabis market. We plan on proving MassRoots' business model in Colorado this year and then expand to multiple states during 2016.
MassRoots will be providing guidance on its user growth, product pipeline and upcoming events in the near future. It has made all photos and videos from the 420 Rally and Cannabis Cup available at 420.MassRoots.com. This past week, MassRoots released WeedMojis, which will soon be integrated with the MassRoots App, and filmed several media and documentary appearances that will air over the coming weeks and months.
MassRoots will be presenting at the ArcView Meeting this Thursday, April 30th, exhibiting at TechCrunch Disrupt on May 4th and 5th, and Chardan Capital will be bringing MassRoots on a Non-Deal Roadshow on May 6th and 7th. For a complete list of conferences MassRoots will be attending, please visit corporate.massroots.com/calendar.
About MassRoots MassRoots is one of the largest and most active communities of cannabis consumers with 275,000 registered 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.
Forward-looking Statements: 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.
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