PHOENIX, Oct. 17, 2018 (GLOBE NEWSWIRE) -- MassRoots, Inc. ("MassRoots" or the "Company") (OTCQB: MSRT), a leading technology platform for the regulated cannabis industry, CEO, Isaac Dietrich, joined Stock Day's Everett Jolly to chat about what his company offers consumers and investors.
Jolly said at the top of the interview that MassRoots has over one million registered users and that its mobile apps empower consumers to make an educated cannabis purchases and drive traffic to dispensaries. Jolly then asked Dietrich how MassRoots offers investors a play on the cannabis industry.
"Well as one of the leading technology platforms for the cannabis industry, MassRoots' apps can be downloaded in any state and any market with a regulated cannabis market. So, it really offers investors to gain exposure in the rapidly growing cannabis industry without ever touching the plant itself," explained Dietrich.
He went on to say that his company's apps aim to connect consumers with the cheapest and best quality cannabis at their local dispensary in a few different ways.
"One through ratings and reviews," said Dietrich. "And we just launched a new rewards program, WeedPass, which enables consumers to earn rewards like concert tickets and movie tickets for doing their regular cannabis purchases at participating dispensaries."
Dietrich said WeedPass is a great way to reward consumers and drive more purchasing volume to their client dispensaries. Jolly then asked how they monetize their program.
"So, what we do is we buy concert tickets in bulk for around $5 a ticket then sell them to dispensaries at $15 a ticket so they can distribute to consumers that spend at least $50 at their store. So, consumers get free tickets for doing their regular purchasing decisions, businesses are making a nice spread, and we are making a profit off of the ticket. It's a great way to drive traceable, trackable purchasing volume to the dispensaries."
Dietrich went on to explain that is just one channel they are utilizing, MassRoots also has a monthly dashboard for dispensaries to track all of the activity that's happening at their store.
"Our suite of technology services really enables cannabis businesses to run more efficiently and gain more insight into their consumers," said Dietrich.
Jolly then noted they recently took on more sales staff, he asked Dietrich how he views his company growing over the next 3 to 12 months.
"Right now, we have over 50 stores on our platform and I anticipate that to grow to several hundred over the next few months," explained Dietrich. "It's good to be in a spot where we can grow both our market share of existing stores and see the overall market continuing to grow. I would anticipate 500 to 600 stores would enable MassRoots to reach cash-flow positive on a monthly basis, if all of the current prices remain the same. That's very exciting for us."
Jolly then asked why the company recently moved their headquarters to Los Angeles. Dietrich explained that LA is now the hub of the largest cannabis market in the world, California.
"It's good to be based right in the heart of where our clients are and have our ear to the ground and gain insights. Things are changing by the minute and by the day and we love to get networked in with all of the key players and make sure we are in a position to really thrive growth for our shareholders."
Dietrich also said that his company is one of the best ways to "play the cannabis industry." He noted they are a technology company that is relatively inexpensive with a growing community.
"We have a community with over a million cannabis consumers who are engaged on our platform and our products are really resonating with. I believe in the next few months we could be driving a significant amount of purchases to dispensaries, perhaps even a significant percentage of all purchases in certain markets."
For more on the interview with MassRoots' CEO, listen to the entire podcast here: https://upticknewswire.com/featured-interview-ceo-isaac-dietrich-of-massroots-inc-otcqb-msrt/.
About MassRoots
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. With a significant market share of medical cannabis patients in certain markets and more than 35,000 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 review MassRoots' filings with the U.S. Securities and Exchange Commission.
Contact:
WeWork Hollywood
7083 HOLLYWOOD BLVD
OFFICE 4084
LOS ANGELES CA 90028
Phone: 833-GO-ROOTS
Email: ir@MassRoots.com
Press: press@MassRoots.com
Investors: ir@MassRoots.com
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections which may cause the trading price for our common stock to fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Related Links
http://www.MassRoots.com
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