---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-26-004503"
form_type: "8-K"
ticker: "CBDW"
cik: "0001877461"
company_name: "1606 CORP."
filed_at: "2026-07-24T21:00:39+00:00"
generated_at: "2026-07-24T21:02:28.670055+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# 1606 Corp. amends promissory note with 50% discount conversion; director resigns

## Summary
- Extended maturity of $2.04M promissory note to Dec 31, 2026; conversion price set at 50% discount to closing bid price.
- Holder (former CEO Gregory Lambrecht) can convert principal and accrued interest into common stock, subject to 9.99% beneficial ownership cap.
- Director Venu Aravamudan resigned effective July 21, 2026; no disagreement with company; board reduced to two members, vacancy unfilled.

## SEC filing metadata
- accession: 0001477932-26-004503
- form_type: 8-K
- ticker: CBDW
- cik: 0001877461
- company_name: 1606 CORP.
- filed_at: 2026-07-24T21:00:39+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1877461/000147793226004503/0001477932-26-004503-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1877461/000147793226004503/cbdw_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-26-004503
- JSON: https://secwatch.observer/filing/0001477932-26-004503.json
- Plain text: https://secwatch.observer/filing/0001477932-26-004503.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.