secwatch.observer — SEC 8-K summary
======================================

Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2025-01-21T23:59:59+00:00
Accession:  0001477932-25-000360
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1606 Corp. issues $1.37M promissory note to former CEO Gregory Lambrecht; matures Dec 31, 2025, no interest
--------------------------------------------------------------------------------

- Amended and restated promissory note principal amount $1,365,550 issued to former CEO Gregory Lambrecht on Dec 31, 2024.
- Original note of $1,220,550 on Nov 1, 2024; amended to $1,365,550 reflecting additional loans.
- Board approved issuance on Jan 15, 2025; note matures Dec 31, 2025 with no interest.
- Events of default include non-payment, bankruptcy, breach of covenants, and cross-default on other debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793225000360/0001477932-25-000360-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793225000360/onesix_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-000360

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