secwatch.observer — SEC 8-K summary
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Issuer:     1606 CORP. (CBDW)
CIK:        0001877461
Form:       8-K
Filed at:   2026-07-24T21:00:39+00:00
Accession:  0001477932-26-004503
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877461/000147793226004503/0001477932-26-004503-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877461/000147793226004503/cbdw_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-26-004503

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