other material
confidence high
sentiment negative
materiality 0.50
1606 Corp. restates three 2023 quarterly reports due to former CEO salary accrual errors
1606 CORP.
- Board concluded on April 2, 2024 that Q1-Q3 2023 interim financials were no longer reliable.
- Errors identified in accrued salary of former CEO Gregory Lambrecht.
- Restated financials filed in amendments to 10-Qs on May 15, 2024.
- Independent accountant Turner, Stone & Company was consulted on the restatement.