1606 CORP. amended Second Amendment to Purchase and Sale Agreement with Jefferson Enterprise Energy, LLC valued at $11,168,864 (effective 2026-05-27).
“On May 27, 2026, 1606 Corp., a Nevada corporation (the " Company "), and Jefferson Enterprise Energy, LLC, a Texas limited liability company (" Seller "), entered into the Second Amendment to Purchase and Sale Agreement (the " Second Amendment "), further amending that certain Purchase and Sale Agreement effective as of March 12, 2026 (as previously amended by the First Amendment dated April 13, 2026, the " Agreement "), relating to the Company's purchase of certain real property and related assets located in Angelina County, Texas.”
Material Agreements
1606 CORP. entered into Agreement and Plan of Stock Exchange with Sim Agro Inc. (effective 2026-05-02).
“On May 2, 2026, 1606 Corp., a Nevada corporation (the “ Company ”), and Sim Agro Inc., a Texas corporation (“ Sim Agro ”), entered into an Agreement and Plan of Stock Exchange (the “ Agreement ”), pursuant to which the Company will acquire a majority interest in Sim Agro through a strategic stock exchange transaction.”
Material Agreements
1606 CORP. amended First Amendment to Purchase and Sale Agreement with Jefferson Enterprise Energy, LLC (effective 2026-04-13).
“On April 13, 2026, 1606 Corp., a Nevada corporation (the " Company "), and Jefferson Enterprise Energy, LLC, a Texas limited liability company (" Seller "), entered into the First Amendment to Purchase and Sale Agreement (the " First Amendment "), amending that certain Purchase and Sale Agreement effective as of March 12, 2026 (the " Agreement "), relating to the Company's purchase of certain real property and related assets located in Angelina County, Texas.”
Debt Financings
1606 CORP. incurred convertible notes of $1,885,050 with Gregory Lambrecht maturing December 31, 2025.
“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”
Material Agreements
1606 CORP. entered into Purchase and Sale Agreement with Jefferson Enterprise Energy, LLC valued at $11,168,864 (effective 2026-03-12).
“On March 12, 2026, 1606 Corp., a Nevada corporation (the " Company "), entered into a Purchase and Sale Agreement (the " Agreement ") with Jefferson Enterprise Energy, LLC, a Texas limited liability company (" Seller "), pursuant to which the Company agreed to purchase certain real property located in Angelina County, Texas, including land, improvements, equipment, permits, warranties and related documents (collectively, the " Property "). The total purchase price for the Property is $11,168,864, consisting of (i) $7,000,000 in cash payable at closing and (ii) the Company's assumption of a mechanic's and materialman's lien recorded as Instrument No. 2025-00458298 in the Official Public Records of Angelina County, Texas (the " Sim Agro Lien ").”
Debt Financings
1606 CORP. incurred loan of $1,528,550 with Gregory Lambrecht at does not accrue any interest maturing December 31, 2025.
“Due to additional amounts loaned by Mr. Lambrecht to the Company, on March 31, 2025, the Company issued to Mr. Lambrecht an Amended and Restated Promissory Note in the principal amount of $1,528,550 (the “ Note ”).”
Auditor Changes
1606 CORP. engaged Salberg & Company, P.A. as its auditor.
“On October 21, 2024, through unanimous written consent, the Board approved the engagement of Salberg & Company, P.A. (the “ New Accounting Firm ”) as the Company’s independent registered public accounting firm for the year ending December 31, 2024.”
Auditor Changes
1606 CORP. dismissed Turner, Stone & Company, L.L.P. as its auditor.
“1606 Corp., a Nevada corporation (the “ Company ”) has dismissed Turner, Stone & Company, L.L.P. (the “ Former Accounting Firm ”) as its independent registered public accounting firm, effective as of October 21, 2024.”
M&A Transactions
1606 CORP. underwent a change of control involving Gregory Lambrecht for gift of 60 shares of Series B Preferred Stock (closed 2024-06-14).
“On June 14, 2024, Gregory Lambrecht, the former Chief Executive Officer of 1606 Corp., a Nevada corporation (the “ Company ”), gifted 60 shares of the Company’s Series B Preferred Stock to Austen Lambrecht, the Company’s current Chief Executive Officer and the son of Gregory Lambrecht.”
Austen Lambrecht was appointed as Chief Executive Officer, Chief Financial Officer, and Chairman of the Board at 1606 CORP..
“Effective May 28, 2024, the Board of Directors of the Company (with Austen Lambrecht abstaining) appointed Austen Lambrecht, age 26, as Chief Executive Officer (Principal Executive Officer), Chief Financial Officer (Principal Financial and Accounting Officer), and Chairman of the Board of the Company.”
Gregory Lambrecht resigned as Chief Executive Officer, Chief Financial Officer, and Chairman of the Board at 1606 CORP..
“Effective May 28, 2024, Gregory Lambrecht resigned as the Chief Executive Officer, Chief Financial Officer, and Chairman of the Board of 1606 Corp., a Nevada corporation (the “ Company ”).”
Governance Changes
1606 CORP.: Filed Certificate of Designation creating Series B Super Voting Preferred Stock, establishing rights and preferences (effective 2024-02-20).
“On February 20, 2024, the Board of Directors of the Company approved the filing of an amendment to the Company’s Certificate of Incorporation (the “ Certificate of Incorporation ”), in the form of a Certificate of Designation that authorized for issuance of up to 100 shares of a new series of Preferred Stock, par value $0.0001 per share, of the Company designated “Series B Super Voting Preferred Stock” and established the rights, preferences and limitations thereof.”
Shareholder Votes
1606 CORP. shareholders approved Amendment to Articles of Incorporation to change company name to 'CBDW AI' at the 2023-08-29 meeting.
“On August 29, 2023, a shareholder of 1606 Corp., a Nevada corporation (the “ Company ”), acted by way of non-unanimous majority written consent action (in lieu of a special meeting of stockholders) to approve an amendment to the Company’s Articles of Incorporation to change the name of the Company to “CBDW AI” (the “ Amendment ”). The number of shares giving written consent (i.e., voting) in favor of such matter was 31,230,000 Shares of Class A Preferred Stock (1,561,500,000 votes out of 2,878,983,606 votes outstanding) (54.24%) as of August 29, 2023.”
Material Agreements
1606 CORP. entered into Registration Rights Agreement with GHS Investments LLC valued at register for resale all Registrable Securities (effective 2023-02-08).
“On February 6, 2023 the Registrant, 1606 Corporation., a Nevada corporation entered into an Equity Financing Agreement and on February 8, 2023 the Registrant entered into a Registration Rights with GHS Investments LLC, a Nevada limited liability company. Under the terms of the Equity Financing Agreement, GHS agreed to provide the Registrant with up to $20,000,000 over a 24-month period after the effectiveness of a registration statement on Form S-1 filed with the U.S.”
Material Agreements
1606 CORP. entered into Equity Financing Agreement with GHS Investments LLC valued at up to $20,000,000 over a 24-month period (effective 2023-02-06).
“On February 6, 2023 the Registrant, 1606 Corporation., a Nevada corporation entered into an Equity Financing Agreement and on February 8, 2023 the Registrant entered into a Registration Rights with GHS Investments LLC, a Nevada limited liability company.”
Austen Lambrecht was appointed as Director at 1606 CORP..
“Mr. Lambrecht also appointed his son Austen as a Director.”
Venu Aravamudan was appointed as Director at 1606 CORP..
“On January 20, 2023, Mr. Lambrecht, the sole Board member appointed pursuant to the Company’s bylaws, Mr. Govindan Gowrishankar and Mr. Venu Aravamudan, as independent members of the Board of Directors.”
Govindan Gowrishankar was appointed as Director at 1606 CORP..
“On January 20, 2023, Mr. Lambrecht, the sole Board member appointed pursuant to the Company’s bylaws, Mr. Govindan Gowrishankar and Mr. Venu Aravamudan, as independent members of the Board of Directors.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.