Monitor June 12, 2026 deadline — if the seller fails to secure a tax payment plan/settlement with taxing authorities, the agreement terminates and the Extension Fee is refunded, making the deal effectively dead. The cancellation trigger is tightly tied to ad valorem tax litigation resolution, creating binary near-term risk.
Price Chart
Executive Summary
1606 Corp. entered into the Second Amendment to its Purchase and Sale Agreement for real property in Angelina County, Texas. The amendment extends the closing date from May 22, 2026 to October 31, 2026, keeps the $11,168,864 purchase price unchanged, and requires an additional $312,000 Extension Fee ($75,000 operational offset + $237,000 tax contribution tied to ad valorem tax litigation resolution). If the seller fails to reach a tax payment plan or settlement by June 12, 2026, the deal automatically terminates and the extension fee is refunded.
Key Financial Metrics
Key Facts
- Closing date extended ~5 months to October 31, 2026 from original May 22, 2026
- Total purchase price unchanged at $11,168,864
- Company pays $312,000 Extension Fee ($75,000 operational offset + $237,000 tax contribution)
- $237,000 tax contribution is credited against purchase price only if closing occurs
- Earnest money ($250,000) from First Amendment remains fully earned and non-refundable
- Automatic termination clause: if seller has no written tax payment plan/settlement by June 12, 2026, deal collapses and full Extension Fee refunded
Financial Impact
$312,000 additional cash outlay for extension, with $237,000 potentially creditable against $11,168,864 purchase price if closed; $250,000 in earnest money already sunk and non-refundable
Risk Factors
- Seller may fail to resolve ad valorem tax litigation by June 12, 2026, triggering automatic termination
- Additional $312,000 cash outlay with only $237,000 potentially creditable — net $75,000 non-refundable operational fee if deal closes
- $250,000 earnest money already non-refundable regardless of closing outcome
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001477932-26-003576 |
| Document: 0001477932-26-003576-index-headers.html | 0001477932-26-003576 |
| Document: 0001477932-26-003576-index.html | 0001477932-26-003576 |
| Document: 0001477932-26-003576.txt | 0001477932-26-003576 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 8-K | $0.000200 | awaiting T+60 | — | $0.00010000 (−50.00%) |
Oct 2, 2026 24d ago | 8-K | $0.000200 | awaiting T+60 | — | $0.00010000 (−50.00%) |
Sep 16, 2026 5w ago | 8-K | $0.000200 | awaiting T+60 | — | $0.00010000 (−50.00%) |
Aug 25, 2026 8w ago | 8-K | $0.000200 | awaiting T+60 | — | $0.00010000 (−50.00%) |
Aug 11, 2026 10w ago | 8-K | $0.000200 | awaiting T+60 | — | $0.00010000 (−50.00%) |
Jul 24, 2026 13w ago | 8-K | $0.000200 $0.000200 | · 0.00% | ▲ +4.47% | $0.00010000 (+50.00%) |
Jun 2, 2026 20w ago | 8-K | $0.001000 $0.000200 | ▼ −83.00% | ▼ −84.78% | $0.00010000 (−90.00%) |
May 4, 2026 25w ago | 8-K | $0.001000 $0.000200 | ▼ −80.00% | ▼ −83.56% | $0.00010000 (−90.00%) |
Apr 23, 2026 26w ago | EFFECT | $0.001000 $0.000300 | ▼ −70.00% | ▼ −75.89% | $0.00010000 (−90.00%) |
Mar 18, 2026 31w ago | 8-K | $0.001000 $0.000500 | ▼ −50.00% | ▼ −62.45% | $0.00010000 (−90.00%) |
US Market Status
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