DENVER, Sept. 15, 2017 /PRNewswire/ -- MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, is pleased to report it is planning to expand its point-of-sale system, MassRoots Retail (formerly known as Odava), to the Nevada cannabis market. On September 13, 2017, Nevada regulators announced all state-licensed cannabis businesses must file regulatory reports via Franwell, Inc.'s METRC system, replacing MJ Freeway's Leaf Data Systems, effective November 1, 2017.
MassRoots Retail's main regulatory integration is with the METRC system and is able to provide its point-of-sale system in states utilizing METRC with minimal infrastructure modifications. State regulatory agencies currently utilizing or planning to utilize METRC are: Colorado, California, Oregon, Alaska, Nevada, Ohio and Michigan. Nevada's decision to switch to the METRC system presents a unique growth opportunity for MassRoots to on-board these dispensaries to its point-of-sale software as well as its software services.
"We believe MassRoots is uniquely positioned to serve cannabis-related businesses in medical and recreational cannabis market across the United States. We estimate our market-share of cannabis consumers on our mobile applications is among the top three in the country, giving us one of the largest and most comprehensive data sets in the cannabis space," stated MassRoots CEO Isaac Dietrich. "This data provides MassRoots and our clients with knowledge very few people have – and we believe the necessary insight to give MassRoots' clients an advantage over their competitors. We look forward to partnering with and engaging the leading dispensaries in Nevada as we continue to execute on our strategic business initiatives."
ArcView Market Research projects $629 million in annual regulated recreational and medicinal cannabis sales will occur in Nevada by 2020.
MassRoots, Inc. is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. Its compliance and point-of-sale system, MassRoots Retail, enables cannabis-related businesses to streamline their retail operations and manage compliance reporting to state regulators. With a significant market share of medical cannabis patients in certain markets and more than 25,000 shareholders, the Company believes it is uniquely positioned to best serve the needs of the cannabis industry. For more information, please visit MassRoots.com/Investors and MassRoots, Inc.'s filings with the U.S. Securities and Exchange Commission.
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of MassRoots, Inc.'s business, partnerships, new features, acquisitions, user growth and related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time to time. 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. For more information, please refer to MassRoots, Inc.'s filings with the U.S. Securities and Exchange Commission.
SOURCE MassRoots, Inc.