1606 CORP. Q1 2025: Assets $139.6M, Liabilities $112.7M
Ticker: CBDW · Form: 10-Q · Filed: May 13, 2025 · CIK: 1877461
Sentiment: neutral
Topics: 10-Q, financials, software
TL;DR
**1606 CORP. Q1 2025: Assets $139.6M, Liabilities $112.7M, significant debt & preferred stock.**
AI Summary
1606 CORP. filed its Q1 2025 10-Q report on May 13, 2025, detailing its financial performance for the quarter ending March 31, 2025. The company, operating in the prepackaged software sector, reported total assets of $139,620,930 and total liabilities of $112,711,945. Key financial figures include $39,999,900 in convertible notes payable and $60,000,000 in Class A Preferred Stock.
Why It Matters
This filing provides a snapshot of 1606 CORP.'s financial health for the first quarter of 2025, indicating its asset and liability structure, which is crucial for investors and creditors to assess its financial stability.
Risk Assessment
Risk Level: medium — The company has substantial convertible notes payable and preferred stock, which could indicate financial leverage or future dilution.
Key Numbers
- $139.6B — Total Assets (As of March 31, 2025, indicating the company's total resources.)
- $112.7B — Total Liabilities (As of March 31, 2025, representing the company's total obligations.)
- $39.9B — Convertible Notes Payable (A significant portion of liabilities as of March 31, 2025.)
- $60.0B — Class A Preferred Stock (A major component of the company's capital structure as of March 31, 2025.)
Key Players & Entities
- 1606 CORP. (company) — Filer of the 10-Q report
- 20250331 (date) — End of the reporting period
- 20250513 (date) — Filing date of the report
- $139,620,930 (dollar_amount) — Total assets as of March 31, 2025
- $112,711,945 (dollar_amount) — Total liabilities as of March 31, 2025
- $39,999,900 (dollar_amount) — Convertible notes payable as of March 31, 2025
- $60,000,000 (dollar_amount) — Class A Preferred Stock as of March 31, 2025
FAQ
What was 1606 CORP.'s net income for the quarter ending March 31, 2025?
The provided snippet does not contain information on net income for the quarter ending March 31, 2025.
What is the total equity of 1606 CORP. as of March 31, 2025?
Total equity can be calculated as Total Assets ($139,620,930) minus Total Liabilities ($112,711,945), resulting in $26,908,985. This specific figure is not directly stated in the snippet.
When did 1606 CORP. file its Q1 2025 10-Q report?
1606 CORP. filed its Q1 2025 10-Q report on May 13, 2025.
What are the main components of 1606 CORP.'s liabilities as of March 31, 2025?
The main components of liabilities mentioned are $39,999,900 in convertible notes payable and $60,000,000 in Class A Preferred Stock.
What is the SIC code for 1606 CORP.?
The Standard Industrial Classification (SIC) code for 1606 CORP. is 7372, which corresponds to SERVICES-PREPACKAGED SOFTWARE.
Filing Details
This Form 10-Q (Form 10-Q) was filed with the SEC on May 13, 2025 regarding 1606 CORP. (CBDW).