$CBDW
1606 Corp

2023 Q2 Form 10-Q Financial Statement

#000147793223003733 Filed on May 18, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $304.00 $1.170K $880.00
YoY Change -93.06% -76.22%
Cost Of Revenue $3.556K $1.225K $7.050K
YoY Change 141.58% -30.56%
Gross Profit -$3.252K -$55.00 -$6.170K
YoY Change -211.75% -101.74%
Gross Profit Margin -1069.74% -4.7% -701.14%
Selling, General & Admin $402.9K $230.2K -$174.2K
YoY Change 180.64% 17.72%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $467.9K $230.2K -$57.14K
YoY Change 275.89% 54.55%
Operating Profit -$471.2K -$230.2K $50.97K
YoY Change 287.56% 57.93%
Interest Expense $2.521K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$2.521K $0.00
YoY Change
Pretax Income -$471.2K -$230.2K -$153.7K
YoY Change 287.56% 57.93%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$471.2K -$230.2K -$153.7K
YoY Change 287.56% 57.93%
Net Earnings / Revenue -154988.16% -19676.24% -17465.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 38.15M shares 38.15M shares 37.10M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.1K $105.1K
YoY Change
Cash & Equivalents $26.97K $220.1K $105.1K
Short-Term Investments
Other Short-Term Assets $12.68K $13.58K
YoY Change
Inventory $129.2K $113.1K $113.2K
Prepaid Expenses
Receivables $3.590K
Other Receivables $11.50K
Total Short-Term Assets $181.3K $361.0K $231.8K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $65.00K
YoY Change
Total Long-Term Assets $0.00 $65.00K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $181.3K $361.0K $231.8K
Total Long-Term Assets $0.00 $65.00K $0.00
Total Assets $181.3K $426.0K $231.8K
YoY Change 59.5% 958.92% 465.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $17.14K $3.170K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $798.5K $798.5K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $872.2K $838.7K $826.9K
YoY Change 45.73% 107.86% 272.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $872.2K $838.7K $826.9K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $838.7K $826.9K
YoY Change 107.86% 219.86%
SHAREHOLDERS EQUITY
Retained Earnings -$1.543M -$1.072M -$841.3K
YoY Change 171.31% 179.26%
Common Stock $4.616K $4.321K $3.742K
YoY Change 24.42% 16.47% 0.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$690.9K -$412.8K -$595.1K
YoY Change
Total Liabilities & Shareholders Equity $181.3K $426.0K $231.8K
YoY Change 59.5% 465.52%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$471.2K -$230.2K -$153.7K
YoY Change 287.56% 57.93%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$235.0K -$142.1K
YoY Change 61.07%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $65.00K
YoY Change
Other Investing Activities -$65.00K $0.00
YoY Change
Cash From Investing Activities -$65.00K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $415.0K 245.7K
YoY Change 186.22%
NET CHANGE
Cash From Operating Activities -$235.0K -142.1K
Cash From Investing Activities -$65.00K 0.000
Cash From Financing Activities $415.0K 245.7K
Net Change In Cash $115.0K 103.5K
YoY Change -13158.46%
FREE CASH FLOW
Cash From Operating Activities -$235.0K -$142.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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IncomeTaxExpenseBenefit
0 usd
CY2022Q1 onesix Earnings Per Shares Basic And Diluted
EarningsPerSharesBasicAndDiluted
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CY2022Q1 us-gaap Revenues
Revenues
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CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
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CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2023Q1 onesix Earnings Per Shares Basic And Diluted
EarningsPerSharesBasicAndDiluted
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CY2023Q1 onesix Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
37925610 shares
CY2022Q1 onesix Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
37103388 shares
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001877461
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Entity File Number
EntityFileNumber
000-53425
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
1606 Corp.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-1497346
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
2425 E. Camelback Rd Suite 150
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Phoenix
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
AZ
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
85016
CY2023Q1 dei City Area Code
CityAreaCode
602
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
481-1544
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q1 dei Entity Shell Company
EntityShellCompany
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CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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CY2023Q1 us-gaap Other Assets
OtherAssets
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CY2022Q4 us-gaap Other Assets
OtherAssets
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CY2022Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
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CY2023Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
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CY2022Q4 onesix Long Term Note Payable To Related Party Current Portion
LongTermNotePayableToRelatedPartyCurrentPortion
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CY2023Q1 onesix Long Term Note Payable To Related Party Current Portion
LongTermNotePayableToRelatedPartyCurrentPortion
63456 usd
CY2023Q1 us-gaap Revenues
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CY2022Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
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CY2023Q1 us-gaap Gross Profit
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CY2022Q1 us-gaap Gross Profit
GrossProfit
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CY2023Q1 us-gaap Selling General And Administrative Expense
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CY2022Q1 us-gaap Selling General And Administrative Expense
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148922 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 onesix Share Conversions Amount
ShareConversionsAmount
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CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2023Q1 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2023Q1 us-gaap Increase Decrease In Notes Receivables
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CY2022Q1 us-gaap Increase Decrease In Notes Receivables
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CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2022Q1 us-gaap Increase Decrease In Inventories
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CY2023Q1 onesix Increase Decrease In Prepaid And Other Current Assets
IncreaseDecreaseInPrepaidAndOtherCurrentAssets
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CY2022Q1 onesix Increase Decrease In Prepaid And Other Current Assets
IncreaseDecreaseInPrepaidAndOtherCurrentAssets
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CY2023Q1 onesix Increase Decrease In Credit Card Payable
IncreaseDecreaseInCreditCardPayable
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CY2022Q1 onesix Increase Decrease In Credit Card Payable
IncreaseDecreaseInCreditCardPayable
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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0 usd
CY2023Q1 onesix Increase In Note Payable To Shareholder
IncreaseInNotePayableToShareholder
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CY2022Q1 onesix Increase In Note Payable To Shareholder
IncreaseInNotePayableToShareholder
145000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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412500 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105065 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Interest Paid Net
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CY2022Q1 us-gaap Interest Paid Net
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CY2023Q1 us-gaap Income Taxes Paid Net
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CY2022Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 onesix Potentially Dilutive Shares
PotentiallyDilutiveShares
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CY2023Q1 onesix Selling And Marketingpolicytextblock
SellingAndMarketingpolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Selling and Marketing costs are expensed as incurred and are reported under selling, general and marketing in the accompanying statements of operations. Such costs were $37,885 and $46,588 for the three months ended March 31, 2023, and 2022, respectively. </p>

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