Business Context and Reporting Period
This Form 8-K was filed by MassRoots, Inc. (not Greenwave Technology Solutions, Inc.) on June 5, 2018. The registrant is incorporated in Delaware and is headquartered in Denver, Colorado. The filing reports a specific corporate governance event regarding executive compensation.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed is a specific compensatory arrangement:
- Compensatory Payment: Up to $75,000 (grossed up for state and federal tax liability) authorized for housing and relocation expenses.
- Recipient: Isaac Dietrich, Chief Executive Officer.
- Period: Payments to be made until the year ending December 31, 2018.
Material Changes
The material change reported is the authorization by the Compensation Committee of the Board of Directors to provide relocation assistance to the CEO. There is no information in this filing regarding changes in financial performance compared to prior periods.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the specific event of the executive compensation authorization.
Investor Verification Checklist
- Verify the correct registrant name is MassRoots, Inc., as the input metadata referenced "Greenwave Technology Solutions, Inc."
- Confirm the total grossed-up cost of the $75,000 net relocation package to the company.
- Review the company's most recent 10-K or 10-Q for actual revenue, profit, and liquidity data, as this 8-K does not contain them.
- Check for any subsequent filings regarding the actual disbursement of these funds.