Spin-off - 1606 CORP.

Form Type: 10-Q

Filing Date: 2025-05-13

Corporate Action: Spin-off

Type: Update

Accession Number: 000147793225003632

Filing Summary: 1606 Corp., formed in February 2021 as part of a spin-off from Singlepoint Inc., reports its quarterly financial results for the period ended March 31, 2025. The company specializes in AI chatbot solutions for the CBD industry and public companies. The Q1 2025 financials reveal a net loss of $208,339, a slight improvement over the previous year's loss of $286,437. Total current assets amount to $285, while liabilities stand at $2,353,839. The company continues to face challenges regarding profitability and liquidity, stating a dependency on external capital to sustain operations. As of May 12, 2025, 1606 Corp. has a total of 139,620,930 outstanding shares of common stock. The management emphasizes forward-looking considerations and potential risks, including market conditions and operational performance uncertainties.