1606 Corp (OTC: CBDW) is a shell-stage company headquartered in Phoenix, Arizona, that developed an AI chatbot product for public companies and is now pursuing a strategic pivot toward power generation and data center infrastructure assets. The company generated $7,195 in consulting revenue from a single prospective chatbot customer in FY2024 and zero revenue in FY2025. Its intended revenue model, if planned acquisitions close, would shift to power generation and data center infrastructure services. As of the 10-K filed March 27, 2026, the company had no completed acquisitions, no operating history in energy infrastructure, and was funded entirely through convertible notes and common stock issuances. Austen Lambrecht serves as CEO and CFO, appointed in July 2024, succeeding founder Greg Lambrecht. Common stock trades on OTC Markets under the symbol CBDW and is registered under Section 12(g) of the Securities Exchange Act.

Revenue model

No recurring revenue as of FY2025. The chatbot product was designed around a monthly recurring licensing fee model targeting CBD brands, retailers, and public company investor relations use cases. The single consulting engagement in FY2024 produced $7,195 in revenue with a gross loss of $118. Future revenue, if any, is described in the filing as potentially derived from power generation and data center infrastructure services, contingent on completing unfinished acquisitions.

Products and services

IRChat: an AI chatbot debuted in April 2024, designed to sit on public company websites and surface SEC filings, press releases, and general company information for investors and shareholders. The chatbot was also marketed to CBD brands and retailers. As of the filing date, the company's strategic focus has shifted away from chatbot operations toward acquisition of power infrastructure and energy assets to support data centers.

Customers and end markets

Historical customers: one unnamed prospective chatbot customer generated all $7,195 of FY2024 revenue. Target end markets for the chatbot included public company investor relations teams, CBD brands, and CBD retailers. Prospective future end markets, contingent on acquisitions, include power generation and data center infrastructure services.

Value-chain role

Software vendor and technology licensor for the chatbot business. Prospective role in power generation and data center infrastructure supply has not been established, as no acquisition has closed and the company has no prior operating experience in those sectors as of the filing date.

Geographic exposure

United States only. Principal office: 2425 E. Camelback Road, Suite 150, Phoenix, AZ 85016, leased on a month-to-month basis at $580 per month. Prospective power generation asset is located in Texas.

Source: SEC 10-K, filed 2026-03-27

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