Embattled weed tech company MassRoots cuts jobs amid debt default

By Alicia Wallace, The Cannabist

MassRoots Inc., the cannabis-centric technology and social media company, has cut more than 40 percent of its workforce and recently defaulted on debt payments, the Denver-based firm disclosed.

MassRoots officials said they received notices of default after not being able to make required payments on an outstanding principal of $966,000 in convertible secured promissory notes issued this year, according to a filing made Sept. 21 with the U.S. Securities…