Oh .. how we missed him… like a hole in the head.
MJ Biz report today (MJ Biz Report – Cannabis tech firm MassRoots, hedge fund in legal tangle over stock claim) that toady Isaac Dietrich is being sued by Iroquois Capital Management of the Cayman Islands.
Why they thought getting into bed with him in the first place was a good idea (do they do due diligence) or did they just see how idiotic he is and had planned this approach all the way along.
Mass Roots is the topic of the book on how to do absolutely everything wrong in the cannabis industry that I’ll be writing when I get some spare time.
He would have been better growing a few plants in his backyard and selling to friends !
The Good Old Days !!
Bullshit Detector !… I used to work in politics ,he says in this 2019 interview, if that doesn’t ring warning bells what does?
Click Image To Watch At You Tube
MJ Biz Report
Cannabis social media platform MassRoots, which recently announced a deal to merge with a metal-recycling firm, is trying to fend off a $12 million arbitration claim by an investment fund.
Iroquois Master Fund, a hedge fund operated by Iroquois Capital Management of the Cayman Islands, claimed in a demand for arbitration that it holds a warrant entitling it to purchase up to 156.3 million shares of MassRoots stock at .0004 dollars per share.
Denver-based MassRoots (MSRT) was trading at about 5 cents a share on Wednesday on the over-the-counter markets.
In a federal lawsuit filed Monday in the Southern District of New York, MassRoots counters that it’s not subject to the warrant, which Iroquois bought from a third-party in 2019.
THE LAWSUIT
MassRoots-lawsuitThe company is requesting a court injunction to prevent Iroquois from pursuing the matter through arbitration, saying it would cause “irreparable harm.”
MassRoots, which has managed to dodge a number of financial bullets over the years, announced in May a $14 million deal with Virginia-based metal-recycling firm Empire Services.
THE PRESS RELEASE
MassRoots, Through its Planned Acquisition of Empire Services, Inc., Poised to Benefit from Rising Metal Markets and Inflationary Pressures
MassRoots, Inc. recently entered into a Letter of Intent to acquire Empire Services, Inc., which is expected to result in MassRoots generating significant revenues and positive cashflows from operations
Empire Metal Recycling Locations as of June 14, 2021 (Graphic: Business Wire)
NORFOLK, Va.–(BUSINESS WIRE)–MassRoots, Inc. (“MassRoots” or the “Company”) (OTCPink:MSRT) is pleased to report that it expects Empire Services, Inc. (“Empire”) to realize significant revenue growth and higher profit margins as a result of rising metal prices and inflationary pressures. Further, Empire plans to aggressively expand its footprint over the coming weeks through the roll-up of independent, profitable metal recycling facilities.
“Over the coming weeks, we plan to aggressively expand Empire’s footprint through the roll-up of independent, profitable metal recycling facilities”
MassRoots recently entered into a Letter of Intent to acquire Empire, which is expected to result in MassRoots generating significant revenues and positive cashflows from operations. Upon closing of the Empire acquisition, the Company intends to apply to uplist to the Nasdaq Capital Market or the NYSE American Market, which MassRoots believes would result in a significant increase in visibility, liquidity, and institutional interest for its stock.
“Over the coming weeks, we plan to aggressively expand Empire’s footprint through the roll-up of independent, profitable metal recycling facilities,” stated Danny Meeks, Chairman of MassRoots. “With inflationary pressures continuing to increase and unabating demand for metals independent of a potential infrastructure investment package, we believe there will be a robust market for metals for the foreseeable future. These are the market conditions in which Empire thrives and has historically generated the highest revenues and profit margins.”
Isaac Dietrich, Chief Executive Officer of MassRoots added, “We have implemented several technology solutions that have already increased metal volumes and operating efficiencies at Empire’s existing facilities. These include a cloud-based ERP system, a corporate website with live metal prices, and in the very near future, an instant online quoting system for people looking to sell their junk cars. The planned closing of the Empire acquisition is proceeding on schedule and I believe will be transformative for the more than 30,000 loyal and supportive MassRoots shareholders.”
Established in 2002, Empire operates 10 metal recycling facilities in Virginia and North Carolina and expects to continue expanding its footprint in the coming weeks. It has historically generated higher profit margins when market prices for metal rise.
About MassRoots
MassRoots, Inc. (OTC Pink: MSRT) is a leading technology company which aims to deliver quality information and create operating efficiencies through cloud-based solutions. MassRoots has been covered by CNBC, CNN, Financial Times, Wall Street Journal, New York Times, Reuters, and the Associated Press.
About Empire Services
Established in 2002, Empire Services, Inc. operates 10 metal recycling facilities in Virginia and North Carolina and expects to continue expanding its footprint in the coming quarters. Empire is headquartered in Virginia and has approximately 65 employees as of June 2021.
Forward-looking Statements
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 include, without limitation, statements about expected closing of Empire acquisition, the future revenues of the Company, the future synergy between the Company and Empire’s business, and the listing on a senior exchange. 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 may 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 our 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.
Contacts
Isaac Dietrich
(303) 816-8070
Isaac@MassRoots.com
MJ Biz continue
At the time, Danny Meeks, Empire president, said his intention was to “build MassRoots into a diversified conglomerate of profitable businesses.” Meeks has since become MassRoots’ president and board chair.
Does He Rue The Day He First Spoke To Dietrich.. Or Is He Cast Of The Same Recycled Metal?
MassRoots Appoints Danny Meeks as Chairman of Its Board of Directors
MassRoots, Inc. recently entered into a Letter of Intent to acquire Empire Services, Inc., which is expected to result in MassRoots generating significant revenues and positive cashflows from operations
Danny Meeks, Chairman of MassRoots (OTC Pink:MSRT) (Photo: Business Wire)
NORFOLK, Va.–(BUSINESS WIRE)–MassRoots, Inc. (“MassRoots” or the “Company”) (OTCPink:MSRT) is pleased to announce that it has appointed Danny Meeks, sole shareholder of Empire Services, Inc. (“Empire”), as the Chairman of its Board of Directors ahead of the planned closing of the Empire acquisition.
“As Chairman of MassRoots, I believe it is my responsibility to deliver consistent revenue growth, acquire profitable businesses to expand our sources of revenue, and minimize dilution to our more than 30,000 loyal and supportive shareholders”
MassRoots recently entered into a Letter of Intent to acquire Empire, which is expected to result in MassRoots generating significant revenues and positive cashflows from operations. Upon closing of the Empire acquisition, the Company intends to apply to uplist to the Nasdaq Capital Market or the NYSE American Market, which MassRoots believes would result in a significant increase in visibility, liquidity, and institutional interest for its stock.
“As Chairman of MassRoots, I believe it is my responsibility to deliver consistent revenue growth, acquire profitable businesses to expand our sources of revenue, and minimize dilution to our more than 30,000 loyal and supportive shareholders,” stated Danny Meeks, Chairman of MassRoots. “At its core, MassRoots is a technology company and the solutions we’ve already implemented for Empire have resulted in an increase in our weekly revenues and customers. Over the coming weeks, we intend to further expand MassRoots’ board of directors through the appointment of seasoned and diverse professionals to ensure we have independent directors who not only meet the requirements of a national exchange but also give confidence to institutions that we are establishing strong corporate governance. Upon closing of the Empire acquisition, I believe MassRoots will have one of the most compelling stories in the small cap market.”
Established in 2002, Empire operates 10 metal recycling facilities in Virginia and North Carolina and expects to continue expanding its footprint in the coming quarters. It has historically generated higher profit margins when market prices for metal rise.
MJ Biz Again
Iroquois, which is seeking up to $12 million in damages in the arbitration request, claims that MassRoots and Meeks are unjustly enriching themselves by ignoring the obligation to Iroquois.
Meeks, according to Iroquois, boasted he would personally receive all 495 million shares of stock issued by MassRoots in connection with the Empire deal and would never issue shares to Iroquois.
Also…… On the subject of Meeks we had a quick look around and can see why he and Dietrich get on so well.
The Virginian Pilot reports
Despite protest, ex-councilman Danny Meeks still finalist for Portsmouth city manager
Out of more than 100 people who applied to be Portsmouth’s city manager, council members said they’ve chosen a handful of finalists who will be interviewed this week. They include ex-councilman Danny Meeks, who lost the election for mayor last year to Shannon Glover.
Meeks already got the manager job once — sort of. In an unscheduled vote Jan. 12, Vice Mayor De’Andre Barnes and councilmen Paul Battle, Bill Moody and Christopher Woodard voted to hire Meeks. The group soon reversed course and voted to reopen the application portal — despite the majority’s desire to hire him, Meeks had not applied for the job.
Meeks also has almost none of the usual educational or work qualifications for a city manager, who runs the government day to day and effectively serves as the CEO.
Portsmouth’s job listing said an applicant was required to have a bachelor’s degree in public administration, business administration, urban planning or a related field — a master’s degree is preferred — along with at least seven years of experience in a senior executive position in an operation similar to the city’s government.
Councilman Mark Whitaker said he won’t participate in any interview of Meeks for city manager. In an email, Whitaker said Meeks does not have the publicly listed qualifications for the job and others chose whether to apply based on that public notice.
Whitaker also suggested Meeks was being given special treatment because he is white — a common allegation under the previous council, where the four white members often outvoted the three Black ones.
Following November’s election, all council members except one (Bill Moody) are Black. That includes three of the four who initially voted to hire Meeks.
But Whitaker said history is replete with examples of the rules being changed to accommodate some people based on their races, including by giving them jobs over more qualified people of another race.
“I will not participate in something which requires me to lower my standards and ignore my values,” Whitaker added.
The near-hiring of Meeks drew a strong community response, with local business owners and leaders of civil rights groups organizing a demonstration, gathering more than 500 letters against the move, questioning how it happened and calling Meeks unqualified for the job. The demonstration in downtown drew a counterprotest.
Discussions at council meetings have not shed much light on how Meeks emerged as a leading candidate for city manager.
We have a feeling that Mass Roots will continue like a Zombie for a while yet
