secwatch.observer — SEC 8-K summary
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Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2026-03-23T23:59:59+00:00
Accession:  0001477932-26-001521
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1606 Corp. issues $1.885M convertible promissory note to former CEO Gregory Lambrecht
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793226001521/0001477932-26-001521-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793226001521/cbdw_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-26-001521

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