$CBDW
1606 CORP.

2024 Q4 Form 10-Q Financial Statement

#000147793224007307 Filed on November 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $0.00 $80.00
YoY Change -100.0% -97.87%
Cost Of Revenue $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $80.00
YoY Change -100.0% -93.76%
Gross Profit Margin 100.0%
Selling, General & Admin $3.225M $461.5K
YoY Change 598.71% 200.57%
% of Gross Profit 576895.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.246M $461.5K
YoY Change 603.37% 283.69%
Operating Profit -$3.246M -$461.4K
YoY Change 603.49% 287.75%
Interest Expense $98.32K $31.53K
YoY Change 211.87%
% of Operating Profit
Other Income/Expense, Net -$323.5K $42.37K
YoY Change -863.37%
Pretax Income -$3.570M $503.8K
YoY Change -808.53% -523.36%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$3.570M -$503.8K
YoY Change 608.53% 323.36%
Net Earnings / Revenue -629760.0%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 104.3M shares 82.41M shares 46.16M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $26.78K $34.32K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $0.00 $129.2K
Prepaid Expenses
Receivables $0.00
Other Receivables
Total Short-Term Assets $43.81K $198.5K
YoY Change -77.94% 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
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $43.81K $198.5K
Total Long-Term Assets $0.00 $0.00
Total Assets $43.81K $198.5K
YoY Change -77.94% 73.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.140M $1.368M
YoY Change 56.38% 90.43%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.140M $1.368M
Total Long-Term Liabilities
Total Liabilities $2.140M $1.368M
YoY Change 56.38% 90.43%
SHAREHOLDERS EQUITY
Retained Earnings -$6.617M -$2.046M
YoY Change 223.35% 197.63%
Common Stock $8.760K $4.726K
YoY Change 85.36% 27.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.096M -$1.170M
YoY Change
Total Liabilities & Shareholders Equity $43.81K $198.5K
YoY Change -77.94% 73.17%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$3.570M -$503.8K
YoY Change 608.53% 323.36%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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1606 Corp.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 usd
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
21500 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-86500 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
270000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
20000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
419500 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
175000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
316893 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
315933 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
412500 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
688540 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
607500 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-22159 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-70749 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48941 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105065 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26782 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
34316 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
onesix Discount On Convertible Notes Payable From Derivative Liability Non Cash Transactions
DiscountOnConvertibleNotesPayableFromDerivativeLiabilityNonCashTransactions
123280 usd
onesix Discount On Convertible Notes Payable From Derivative Liability Non Cash Transactions
DiscountOnConvertibleNotesPayableFromDerivativeLiabilityNonCashTransactions
0 usd
onesix Conversion Of Loans And Accrued Interest Into Common Stock
ConversionOfLoansAndAccruedInterestIntoCommonStock
79577 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of the condensed financial statements in conformity with 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 condensed financial statements, and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results may differ from those estimates. Significant estimates in the accompanying financial statements include valuation of notes receivable, valuation of inventory valuation of derivative liabilities, valuation of stock-based costs, and valuation of deferred tax assets..</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company reclassified certain interest expenses of $31,527 and $36,569 from operating expenses to other expenses for the three and nine months ended September 30, 2023, to conform to the 2024 presentation. There was no net effect on the total expenses of such reclassification.</p>
CY2023Q3 us-gaap Interest Expense Other
InterestExpenseOther
31527 usd
us-gaap Interest Expense Other
InterestExpenseOther
36569 usd
CY2024Q3 us-gaap Other Inventory
OtherInventory
72853 usd
CY2023Q4 onesix Common Stock Share Outstanding
CommonStockShareOutstanding
58582469 shares
onesix Selling And Marketing Policy Textblock
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 administrative in the accompanying condensed statements of operations. </p>
onesix Servicing Liability At Amortized Value Settlements
ServicingLiabilityAtAmortizedValueSettlements
-187895 usd
onesix Expected Probability Percentage
ExpectedProbabilityPercentage
10 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.0182
CY2024Q3 onesix Note Payable To Shareholder
NotePayableToShareholder
1220550 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
6346 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
123280 usd
onesix Additional Debt Discounts
AdditionalDebtDiscounts
123280 usd
onesix Description Of Conversion Price
DescriptionOfConversionPrice
the conversion rate shall be 65% of the Market Price with the Market Price being defined as the lowest trading price of the Company's common stock over the 10 preceding trading days
CY2024Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
14622 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
108262 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
249008 usd
CY2024Q3 onesix Accrued Interest
AccruedInterest
52884 usd
CY2024Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
357270 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
204488 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-108262 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-153402 usd
CY2024Q3 us-gaap Debt Current
DebtCurrent
249008 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
51086 usd
onesix Common Stock Issued Shares
CommonStockIssuedShares
29018088 shares
CY2024Q3 us-gaap Investment Sold Not Yet Purchased Balance Shares
InvestmentSoldNotYetPurchasedBalanceShares
13429645 shares
onesix Purchase Price Of Common Stock
PurchasePriceOfCommonStock
315933 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
12125 usd
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
3626643 shares
CY2024Q3 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
79577 usd
us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
ExtinguishmentOfDebtGainLossNetOfTax
85316 usd
us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
2003109 shares
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
25245 usd
us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
6672666 shares

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