Cannabis Sativa Inc (CBDS)

[Insecurious]

I received this from IR:

"CBDS has been informed by FINRA that FINRA continues to review documents relevant to the spin-off but that the record date will not change even though it is now in the past. FINRA will post information about the spin-off on its site once its review is completed and the pay date or the date the KUSH shares will be mailed out has been determined. FINRA has also determined that there will be no ex-dividend date since the KUSH shares are not free trading. Shareholders entitled to the dividend are shareholders of record on the record date and CBDS is not aware of how and when a particular stock purchase will give the purchaser the status of being a shareholder on the record date. Stock brokers and transfer agents are the professionals in those areas."

My broker told me that a 3-day settlement period does not apply here, that if someone held stock three business days prior to the 25th and sold before the market closed on the 25th they will not qualify for the KUSH shares, and if someone purchased stock on the 25th and sold on the 26th they will.