secwatch.observer — SEC 8-K summary
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Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2025-05-05T23:59:59+00:00
Accession:  0001477932-25-003310
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1606 Corp. issues $1.53M promissory note to former CEO Gregory Lambrecht
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- Principal amount of $1,528,550, amended from $1,220,550, issued March 31, 2025.
- Note matures December 31, 2025, with no accrued interest.
- Issued to former CEO/director Gregory Lambrecht; board approved May 2, 2025.
- Events of default include non-payment, covenant breach, and bankruptcy.
- Obligation creates a direct financial liability for the company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793225003310/0001477932-25-003310-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793225003310/cbdw_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-003310

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