secwatch.observer — SEC 8-K summary
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Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2025-08-12T23:59:59+00:00
Accession:  0001477932-25-005716
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1606 Corp. amends promissory note; principal raised to $1.74M, adds 25% discount conversion
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- Principal increased to $1,739,550 from $1,528,550, an increase of $211,000.
- Holder can convert principal and accrued interest at 25% discount to closing bid price.
- Conversion subject to 4.99% beneficial ownership limitation.
- Note issued to former CEO Gregory Lambrecht; adds immediate dilution risk.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793225005716/0001477932-25-005716-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793225005716/cbdw_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-005716

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