secwatch.observer — SEC 8-K summary
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Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001477932-24-006943
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1606 Corp amends promissory note to former CEO, increasing principal to $1.22M
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- Issued Amended and Restated Promissory Note to former CEO Gregory Lambrecht on Nov 1, 2024 for $1,220,550.
- Note replaces prior June 2023 note of $755,050 and includes additional loans; matures Dec 31, 2025.
- Note carries zero interest; default triggers include failure to pay at maturity or bankruptcy filing.
- Obligation is a direct financial liability – no off-balance-sheet treatment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793224006943/0001477932-24-006943-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793224006943/cbdw_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-006943

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer