MassRoots, the popular social network for cannabis enthusiasts, said it has received more than $2 million in cash from the exercise of warrants so far in 2017, providing additional financial stability to the once-wobbly Denver company.
The company rode something of a financial roller coaster last year.
In September, MassRoots missed payments to some of its creditors, owing $966,000 to investors who bought six-month convertible secured promissory notes from the company in March 2016.
But the company quickly recovered, paying back its debt the next month and then securing $1.1 million in new funding. Dietrich led that funding round, with former MyPoints.com CEO Steve Markowitz also among the contributors. That funding announcement came as the company closed on $3.2 million in equity financing under an offering that was launched last August.