$CBDW
1606 Corp

2023 Q4 Form 10-Q Financial Statement

#000147793223008499 Filed on November 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $80.00 $3.762K
YoY Change -97.87% 16.9%
Cost Of Revenue $0.00 $2.480K
YoY Change -100.0% -17.44%
Gross Profit $80.00 $1.282K
YoY Change -93.76% 499.07%
Gross Profit Margin 100.0% 34.08%
Selling, General & Admin $461.5K $153.5K
YoY Change 200.57% 44.34%
% of Gross Profit 576895.0% 11977.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $461.5K $120.3K
YoY Change 283.69% 16.06%
Operating Profit -$461.4K -$119.0K
YoY Change 287.75% 15.07%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $42.37K $0.00
YoY Change
Pretax Income $503.8K -$119.0K
YoY Change -523.36% 15.07%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$503.8K -$119.0K
YoY Change 323.36% 15.07%
Net Earnings / Revenue -629760.0% -3163.29%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 47.26M shares 46.16M shares 37.10M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.540K
YoY Change
Cash & Equivalents $48.94K $34.32K $1.543K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $72.85K $129.2K $113.1K
Prepaid Expenses
Receivables $3.600K
Other Receivables
Total Short-Term Assets $148.3K $198.5K $114.7K
YoY Change -36.01% 73.18%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $2.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $148.3K $198.5K $114.7K
Total Long-Term Assets $0.00 $0.00 $2.00
Total Assets $148.3K $198.5K $114.7K
YoY Change -36.01% 73.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $718.5K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $612.7K $1.368M $718.5K
YoY Change -25.9% 90.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $950.6K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $612.7K $1.368M $718.5K
Total Long-Term Liabilities $950.6K $0.00
Total Liabilities $1.563M $1.368M $718.5K
YoY Change 89.06% 90.43%
SHAREHOLDERS EQUITY
Retained Earnings -$2.422M -$2.046M -$687.6K
YoY Change 187.89% 197.63%
Common Stock $5.858K $4.726K $3.710K
YoY Change 56.55% 27.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.415M -$1.170M -$603.9K
YoY Change
Total Liabilities & Shareholders Equity $148.3K $198.5K $114.7K
YoY Change -36.01% 73.17%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$503.8K -$119.0K
YoY Change 323.36% 15.07%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$468.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 460.0K
YoY Change
NET CHANGE
Cash From Operating Activities -468.0K
Cash From Investing Activities 0.000
Cash From Financing Activities 460.0K
Net Change In Cash -8.000K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$468.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results may differ from those estimates.</p>
onesix Selling And Marketing Policy Textblock
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<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 administrative in the accompanying statements of operations. Such costs were $461,516 and $120,285 for the three months ended September 30, 2023 and 2022, respectively and $1,094,583 and $393,688 for the nine months ended September 30, 2023 and 2022, respectively. </p>
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DescriptionOfConversionPrice
conversion price equal to 65% of the lowest trading price for the common stock during the ten-day period prior to the conversion date
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
9476 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3653 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
20323 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
178653 usd
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
2714 usd
CY2023Q3 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
400952 usd
CY2023Q3 onesix Additional Debt Discounts
AdditionalDebtDiscounts
175000 usd
us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
5060125 shares
us-gaap Preferred Stock Dividends Shares
PreferredStockDividendsShares
202405 shares
CY2023Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.50
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
412500 shares
CY2023Q3 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
1.00

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