Business Context and Reporting Period
This Form 8-K is a current report filed by MassRoots, Inc. (not Greenwave Technology Solutions, Inc.) on January 16, 2018, covering events occurring between January 9, 2018, and January 10, 2018. The registrant is an emerging growth company incorporated in Delaware.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The only financial metric disclosed relates to executive compensation:
- CFO Compensation: Jesus Quintero will receive a fee of $4,000 per month.
- Equity Grant: A one-time issuance of 250,000 shares of common stock, fully vested as of January 10, 2018.
Material Changes
The filing reports significant changes in executive leadership:
- Resignation: Steve Osborn resigned as Chief Technology Officer effective January 9, 2018. The resignation was not due to any disagreement with the Company.
- Appointment: Jesus Quintero was appointed Chief Financial Officer effective January 10, 2018, replacing Isaac Dietrich who served as Interim CFO.
- Contract Terms: The CFO Services Agreement has an initial one-year term with automatic renewal unless 90 days' notice is given. Either party may terminate the agreement with 90 days' prior written notice.
Guidance, Outlook, and Risks
The Company released a business presentation (Exhibit 99.1) containing forward-looking statements. Management explicitly disclaims any obligation to update the presentation to reflect future events. Investors are cautioned not to place undue reliance on these forward-looking statements. No specific risks, contingencies, or unusual items were detailed in the text of this report beyond standard regulatory disclosures.
Investor Verification Checklist
- Verify the identity of the registrant as MassRoots, Inc., distinct from the metadata name provided.
- Review the attached "MassRoots, Inc. presentation dated January 2018" (Exhibit 99.1) for business context, as this 8-K contains no operational data.
- Confirm the vesting status and dilution impact of the 250,000 shares issued to the new CFO.
- Monitor future filings for the appointment of a new Chief Technology Officer following Steve Osborn's departure.