1606 CORP. (CBDW): debt financing — 1606 Corp. issues $1.885M convertible promissory note to former CEO Gregory Lambrecht

1606 CORP.

Note principal of $1,885,050 issued effective Dec 31, 2025 with same maturity date.
Convertible at option of holder into common stock at 25% discount to closing bid price on conversion date.
Conversion subject to 9.99% beneficial ownership limitation.
Note replaces prior $1,220,550 promissory note from November 2024.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.92

1606 CORP. incurred convertible notes of $1,885,050 with Gregory Lambrecht maturing December 31, 2025.

Instrument: convertible notes
Principal: $1,885,050
Counterparty: Gregory Lambrecht
Maturity: December 31, 2025
Event: incurrence

Exact text from the filing

on March 17, 2026 the board of directors of the Company approved the issuance to Mr. Lambrecht (the “ Holder ”) an Amended and Restated Promissory Note in the principal amount of $1,885,050 (the “ Note ”). The Note is issued effective December 31, 2025, matures December 31, 2025

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1606 CORP. filing history →

Source: SEC EDGAR

accession 0001477932-26-001521

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