Marijuana Business Magazine - February 2018

CANNABUS¬NESS BY THE NUMBERS MassRoots’ Fall From Grace M assRoots – a Denver-based social network for cannabis enthusiasts – seemed primed to take the marijuana industry by storm after it was founded in 2013. With social media use on the rise and the legal cannabis industry on the verge of taking off, investors were bullish on the future of MassRoots, one of the early marijuana-related companies in the United States with a publicly traded stock. But tumbling sales, a plunging stock price and growing losses left MassRoots in financial hot water this past year. The bad news culminated in the high-profile ouster in Octo- ber of the company’s founder and CEO, Isaac Dietrich. Two months later, Dietrich retook the CEO post as three board members and the newly installed CEO resigned. Here’s a closer look at key performance indicators for the beleaguered company: Source: Yahoo Finance and SEC filing Peak closing price of MassRoots’ stock, reached on April 21, 2015, in over- the-counter trading. $2.59 Average closing price of MassRoots’ stock in November 2017. 19 cents Estimated number of registered users on MassRoots’ social network platform. The company issued a news release in March 2017 saying it had registered over 1 million users, but no further updates have been provided. >1M MassRoots’ revenue for the nine months ending Sept. 30, 2017. $289,130 MassRoots’ net loss for the nine months ending Sept. 30, 2017. $26.2M 10 • Marijuana Business Magazine • February 2018