1606 Corp. Files 2024 10-K, Reports $58.6M Assets
Ticker: CBDW · Form: 10-K · Filed: Mar 31, 2025 · CIK: 1877461
Sentiment: bearish
Topics: 10-K, financials, software
TL;DR
1606 Corp. 2024 10-K is in: $58.6M assets, $112.7M liabilities. Check it out.
AI Summary
1606 Corp. filed its 2024 10-K on March 31, 2025, reporting its fiscal year ended December 31, 2024. The company, incorporated in Nevada and headquartered in Phoenix, AZ, operates in the prepackaged software services sector. Key financial figures for the period include total assets of $58.6 million and total liabilities of $112.7 million. The filing also details employment agreements for key executives and information regarding preferred stock.
Why It Matters
This 10-K filing provides a comprehensive overview of 1606 Corp.'s financial health and operational status for the 2024 fiscal year, crucial for investors and stakeholders to assess the company's performance and future prospects.
Risk Assessment
Risk Level: medium — The company reports significantly higher total liabilities ($112.7 million) than total assets ($58.6 million), indicating potential financial strain.
Key Numbers
- $58.6B — Total Assets (Indicates the total value of resources owned by the company as of December 31, 2024.)
- $112.7B — Total Liabilities (Represents the total amount of debt and obligations the company owes as of December 31, 2024.)
- 2024-12-31 — Fiscal Year End (The end date of the reporting period for this 10-K filing.)
Key Players & Entities
- 1606 CORP. (company) — Filer of the 10-K
- 2024-12-31 (date) — Fiscal year end
- 2025-03-31 (date) — Filing date
- Phoenix, AZ (location) — Company headquarters
- $58,582,469 (dollar_amount) — Total assets
- $112,711,945 (dollar_amount) — Total liabilities
FAQ
What is the net income or loss for 1606 Corp. for the fiscal year ended December 31, 2024?
The provided snippet does not contain specific net income or loss figures for the fiscal year ended December 31, 2024.
What are the details of the employment agreements mentioned for the Chief Executive Officer and Vice President?
The filing mentions employment agreements for a Chief Executive Officer (dated May 1, 2021, and February 1, 2024) and Vice Presidents (dated February 1, 2023, and February 1, 2024), but specific terms are not detailed in this snippet.
What is the nature of the 'Subsequent Event' noted on March 1, 2025?
The filing indicates a subsequent event occurred on or around March 1, 2025, but the specific details of this event are not provided in the snippet.
How much cash and cash equivalents does 1606 Corp. have as of December 31, 2024?
The provided data does not include the specific amount of cash and cash equivalents for 1606 Corp. as of December 31, 2024.
What is the total equity of 1606 Corp. as of December 31, 2024?
Total equity is not explicitly stated in the provided data, but can be inferred as Total Assets ($58.6M) minus Total Liabilities ($112.7M), resulting in a negative equity of approximately -$54.1M.
Filing Details
This Form 10-K (Form 10-K) was filed with the SEC on March 31, 2025 regarding 1606 CORP. (CBDW).