MassRoots quarterly revenue tanks
The marijuana tech company’s third-quarter revenue plunged nearly 100 percent.
MassRoots Inc. reported Tuesday that its third-quarter revenue had plunged precipitously and it would need to raise at least $2.5 million by year’s end to stay in business.
The Denver-based marijuana social network and business software company generated $11,516 in sales, all attributed to advertising revenue on the MassRoots network, according to the company’s quarterly earnings release made public Tuesday.
The third-quarter revenue figure represents a nearly 100 percent free fall from one year ago when the company recorded quarterly revenue of $209,003.
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