secwatch.observer — SEC 8-K summary
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Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2024-03-04T23:59:59+00:00
Accession:  0001477932-24-000998
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1606 Corp. creates super-voting preferred stock, enters CEO/VP employment agreements
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- CEO Gregory Lambrecht gets 3-year term, $250k salary, 60 shares of Series B Super Voting Preferred.
- VP Austen Lambrecht gets 3-year term, $97k salary, 30 shares of Series B Super Voting Preferred.
- Series B Preferred carries voting power equal to 10x all common and other preferred shares combined.
- Series B Preferred terminates after 5 years unless extended by majority vote of common stockholders.
- Issuance exempt from registration under Rule 506(b); no commissions or finder's fees paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793224000998/0001477932-24-000998-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793224000998/onesix_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-000998

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