Simple…for very share of Sing common stock you own your got one share of 1606 and for every share of Sing preferred stock you own you get a preferred share of 1606.
Rest assured..you didn’t own any preferred. Those were owned by executives and some lenders. You just owned common stock.
I don’t follow 1606 so I have no idea when their stock registration will be final and or when they will get a pink sheet listing. Sometime in 2022 I would guess.
No borrowing was done. Singlepoint owned 1606 before the spin-off. That meant they owned everything, including the inventory of cigs that was probably kept over at the DIGS warehouse. When 1606 was spun-off into a separate company, Singlepoint sold the 1606 cigs to Greg Lambrecht in exchange for a note. So Greg has to pay Singlepoint for the existing inventory over an Agreed amount of time. I have no idea what the terms are…that wasn’t revealed.
Singlepoint IS Not involved in 1606 in any way other than they are a creditor.
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