The cannabis industry may be booming, but publishers looking to cash in keep going up in smoke. In its most recent earnings report, Hightimes Holding incurred a net loss of $11.9 million for the six months ended June 30, 2019, on revenue of $10.7 million. Denver-based cannabis technology company MassRoots’ website has been offline for a number of days, raising fresh questions about the financial health of a company that has been in turmoil since at least 2017. However, the company’s second-quarter report ended June 30 showed revenues of just $18,366 and operating expenses of $793,004, resulting in a net loss of $774,638. MassRoots ended the quarter with only $1,650 of cash on hand. High Times, other pot publications in danger of shutting down Is MassRoots out of business? CEO says no https://nypost.com/2019/12/05/hightimes-holding-other-cannabis-publishers-may-be-shutting-down/
"High Times has snapped up rival publications, including Dope, Culture and Green Rush Daily, and runs marijuana-themed concerts and events, but its crowdsourced IPO has stalled. It recently hired Toronto-based Lazer & Lazer to search for a new backer as it tries to dig out of $105.2 million in debts." ^ sounds like they need a billionaire stoner that want's to expand his business ventures ugh, I hope it's not actually game over for either of them. I'm more optimistic towards High Times due to their long history in the culture (seeing as they've been printing since 1974 versus MassRoots's startup around 2013). but even with High Times's cult following and fans of all demographics, MassRoots has managed to become a bit of a household name even in just 6 years. thanks for sharing these articles. I'm going to try and stay optimistic-- and trust me, I've already been looking for billionaire stoners!!!