MassRoots disclosed selling $475,000 worth of equity securities as part of a new financing round. The financing which started to sell last Wednesday was subscribed in full by thirty-seven investors. The equity offering’s estimated net proceeds amount to $375,000 excluding $100,000 earmarked for the payment of officers’ salaries. Until this disclosure MassRoots had raised an estimated $150,000 in unregistered securities via one previous financing round.
The company is developing a social platform for cannabis consumers to connect. The company moved to Colorado to tap into its burgeoning cannabis economy and leverage its cannabis friendly laws.
The company, headquartered in Boulder CO, was registered in 2013. No revenues were reported by the company.
The executive team includes Hyler C Fortier, Stewart J Fortier and Tyler A Knight.
The company has raised an estimated total of $625,000 via private unregistered security offerings.
Industry: Other Technology
Amount offered: $475,000
Amount placed: $475,000
First sale: 03-26-2014
Data as of: 03-31-2014