Upon completion of the transaction, MassRoots expects it will be generating significant revenues and positive cash flows from operations
MassRoots, Inc. (“MassRoots” or the “Company”) (OTCPink:MSRT) today issued the following update on its planned acquisition of Empire Services, Inc. (“Empire”).
With the assistance of MassRoots’ team, Empire has launched a new corporate website which will enable its more than 600 daily customers to easily view each location’s daily prices for a variety of metals. This is the first of many technology solutions the companies plan to launch aimed at growing Empire’s revenues, streamlining its operations and enhancing its customer experience.
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.
Empire has engaged an independent accounting firm to audit its financials in accordance with the standards established by the Public Company Accounting Oversight Board (“PCAOB”). Subject to the completion of the audit and other closing conditions, the companies expect to close the transaction by August 13, 2021.
MassRoots, Inc. (OTC Pink: MSRT) is a leading media company focused on the regulated cannabis industry, with a significant following and traffic across its online and social media platforms. MassRoots has been covered by CNBC, CNN, Financial Times, Wall Street Journal, New York Times, Reuters, and the Associated Press. For more information on MassRoots, please visit MassRootsInvestors.com.
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 May 2021.
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Originally published via Business Wire