MassRoots, Inc. announced that it has received $0.15 million in funding from Rother Investments and other investors.
January 01, 2014 at 09:30 am IST
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MassRoots, Inc. announced a private placement of 17.65 series A preferred shares at a price of $8,498.58 per share for gross proceeds of $150,000 on October 7, 2013. The company entered into agreemnets with Bass Point Capital, LLC, WM18 Finance LTD, and Rother Investments, LLC for 5.88 shares, 5.88 shares, and 5.89 shares respectively for $50,000 each. The par value of the shares is $1 per share. The shares will carry fixed dividend at 7% per annum and are convertible at an intial fixed conversion price of $8,499.79. The company will issue securities pursuant to exemption provided under Regulation D. Each investor will be entitled to elect two directors of the company.
As of October 18, 2013, the company has received $50,000 from a single investor.
On January 1, 2014, MassRoots, Inc. closed the transaction.
Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (Empire), is an operator of about 13 metal recycling facilities in Virginia, North Carolina, and Ohio. Its recycling facilities collect, classify, and process raw scrap metal and implement various technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based enterprise resource planning (ERP) system. Its main product is selling ferrous metal, which is used in the recycling and production of finished steel. It is categorized into heavy melting steel, plate and structural, and shredded scrap, with various grades of each of those categorizations based on the content, size and consistency of the metal. It also processes nonferrous metals, such as aluminum, copper, stainless steel, nickel, brass, titanium, lead, alloys, and mixed metal products. Its customers include industrial manufacturers, retail customers, and others.
GREENWAVE TECHNOLOGY SOLUTIONS, INC. 
