MassRoots, Inc. denied by NASDAQ



A recent press release reports that NASDAQ Denies Cannabis Tech Company’s application, stating that MassRoots aids and abets the distributing of a substance that is illegal. The cannabis technology company has its own app on social media that aids users of cannabis in connecting with both other users and companies that offer cannabis to the public.

There is a MassRoots Stock Listing currently, however it is sold on the over-the-counter market. MassRoots seems to want to be included on the larger and more trusted Nasdaq, hence their August 2015 application for inclusion. The decline of their application didn’t make the company’s CEO, Mr. Isaac Dietrich, very happy, since he feels that this recent stumbling block might hinder the legal progression of the whole cannabis industry and could be setting a dangerous precedent as well.

The company is planning on appealing the decision and is also requesting a written denial letter. However, according to some market experts, no one wishes to even start getting close to anything that remains federally illegal and therefore the appeal may not be very effective even if they take their appeal to the SEC.

Another problem that many cannabis dispensing companies have faced is dealing with financial institutions. The banks seem to feel that doing business with them is still too risky in spite of the fact that it may be legal in their state. This makes it difficult for dispensaries to get banks to work with them.

Currently, only one thing could change all of this and that is the DEA rescheduling cannabis, and they just might be considering it. According to a recent memo to lawmakers nationwide, they expect to be reaching a decision as early as this summer.

Marijuana & Technology Medical Marijuana Doctors

Your Comments

You must be logged in to post a review.

For Patients was created to bring together patients and local medical marijuana doctors quickly and easily. Our easy to use search engine allows the patient to quickly retrieve a list of medical marijuana doctors and cards in their geographic area. Also look for medical marijuana doctor deals in your local area!

For Doctors member doctors have access to our "Doctor's Office" portal where we provide resources and additional features that the medical marijuana community will find useful - interact with patients, respond to reviews, list daily deals, weekly coupons, or special occasion deals. Grow your office with mobile web apps - increase foot traffic, increase patient loyalty, grow your database of clients, increase your revenues, and market to patients like never before!

Advertise Your Marijuana Doctors Office