LOS ANGELES, Oct. 22, 2018 /PRNewswire/ -- MassRoots, Inc. ("MassRoots" or the "Company") (MSRT), one of the leading technology platforms for the regulated cannabis industry, is pleased to announce that recent polling shows broad support for legalization in several key states expected to vote on cannabis regulation on November 6, 2018: Utah, Missouri, North Dakota and Michigan. An April 2018 report from New Frontier Data projects the U.S. regulated cannabis industry will grow from $8.3 billion in 2017 to $25 billion by 2025.
"Elections have the ability to create new markets, reshape economies and change the course of history," stated MassRoots CEO Isaac Dietrich. "We believe if four additional states vote to create regulated cannabis markets in the 2018 elections, it could result in additional subscriber and revenue growth for MassRoots."
Recent polling indicates strong support for cannabis initiatives in four states:
- Michigan – Proposal 2 to create a regulated adult-use cannabis market – 55% support, 41% oppose, 3% undecided (Detroit Free Press Poll in September 2018).
- North Dakota – Measure 3 to create a regulated adult-use cannabis market – 51% support, 36% oppose, 13% undecided (Grand Forks Herald Poll in October 2018).
- Missouri – Proposition 3 to create a regulated medical cannabis market – 54% support, 35% oppose, 11% undecided (Real Clear Politics Poll in August 2018)
- Utah – Proposal 2 to create a regulated medical cannabis market – 51% support, 46% oppose, 3% undecided (Salt Lake Tribune-Hinkley Poll in October 2018).
MassRoots' business model is designed to benefit from the trend of states creating and expanding regulated cannabis markets. When a state passes a medical or recreational cannabis law, MassRoots can register users and businesses in that state with minimal marginal cost. Because it is not involved in the production or sale of cannabis, MassRoots does not have to build grow operations, open retail stores, or have a physical presence in the state in order to generate revenue. At the same time, MassRoots' financial model is not tied to the success of a particular location or brand – the Company believes it can have a significant percentage of all dispensaries and brands on our platform, making MassRoots a play on the industry as a whole.
For more information, including information on the Company's WeedPass Rewards Program, please visit www.MassRoots.com/Investors.
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. MassRoots has been covered by the Associated Press, Reuters, New York Times, CNN, CNBC, Fortune and Forbes. For more information, please visit www.MassRoots.com/Investors and review MassRoots' filings with the U.S. Securities and Exchange Commission.
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. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may 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.
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