MassRoots Note Default Raises Questions About Company’s Future
MassRoots Inc (OTCMKTS:MSRT) has been on a slippery slope recently, grinding lower seemingly every day, after failing to attain new funding support as a likely consequence of a failed bid to uplist to the Nasdaq exchange in May. Just before that time (in mid-March 2016), the Company took on over a million in secured six month notes which came due last month. In an 8K a week ago, MSRT put out notice that they were in default.
As a result, about half of the 33 headcount staff was cut and a number of other adjustments were made that should be examined. But the default isn’t the only important point to make about this company, as we will see below. MSRT has a track record that includes a number of dramatic bounces. With this news now out and about and a float well under 30M (for now), one might see some covering come into...
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