1606 Corp SEC Filings

1606 Corp. reported a net loss of $1,066,516 for the quarter ended March 31, 2026, with no revenue and total assets of only $70,473. Operating expenses were modest at $168,472, but heavy financing costs drove results.

Interest expense rose to $544,468, largely from amortization of discounts on convertible notes, and the company expensed a $250,000 non‑refundable acquisition extension fee tied to a Texas power facility purchase agreement. Management discloses substantial doubt about the company’s ability to continue as a going concern and relies on raising additional capital.

At March 31, 2026, liabilities totaled $4,153,089 against a stockholders’ deficit of $4,082,616, including $1,694,382 of derivative liabilities and $1,633,811 of convertible notes, net. The firm is shifting strategy from AI chatbots toward power infrastructure and data‑center‑related assets, with pending transactions for a Lufkin, Texas power plant and a majority interest in Sim Agro Inc., but both remain subject to financing and closing conditions.

1606 Corp. has signed a definitive agreement to acquire a majority controlling interest in Sim Agro Inc., a global power-plant operations and energy-infrastructure company. The deal is intended to support 1606’s strategy to build captive power and data center infrastructure for artificial intelligence and high-performance computing.

Sim Agro is expected to operate 1606’s growing power and energy assets, starting with a Texas power-generation and data infrastructure property under contract on approximately 132 acres with a 50,000 sq ft warehouse. In connection with the transaction, an existing lien associated with Sim Agro is expected to be satisfied and removed after closing conditions and promissory note repayment, which management says would effectively reduce the net acquisition cost of the Texas facility by about $4.2 million.

Sim Agro brings a global team across multiple regions, more than 40 years of combined power-generation experience, and about $2.5 million in inventory, providing immediate operating capacity. Upon closing, 1606 plans to appoint Sim Agro’s Dr. Karthik Raghavan to its Board and enter into an employment contract with him as it builds a vertically integrated platform focused on captive power generation, data-center-ready real estate, and energy solutions for AI and high-density computing.

1606 Corp. registers 204,700,902 shares of common stock for resale by the selling stockholder, GHS Investments LLC, representing approximately 21% of issued and outstanding shares as of March 22, 2026. The resale (the "Offering") is a resale by GHS and the Company will not receive proceeds from those resales. Under a separate Equity Financing Agreement, the Company may sell shares to GHS at 80% of a recent Market Price (rising to 90% after a NASDAQ up-list, subject to a $2.00 floor). The Financing Agreement contemplates up to $20,000,000 in investment capacity and includes 400,000 commitment shares issued to GHS that are not registered here. The Selling Stockholder may use market, negotiated or private methods to sell any or all registered shares.

1606 Corp. reports that Greg Paul Lambrecht beneficially owns 76,000,000 shares of Common Stock, representing 8.6% of the class. The filing states 883,850,971 shares outstanding as of April 23, 2026, and indicates sole voting and dispositive power over the reported shares.

1606 Corp. files a post-effective amendment to register for resale 204,700,902 shares of common stock by selling stockholder GHS Investments LLC. The prospectus states these shares represent approximately 21% of issued and outstanding common stock as of March 22, 2026.

The resale registration is a secondary offering; the company will not receive proceeds from these resales. The filing also discloses plans and pending items: a Financing Agreement with GHS (discounted purchase mechanics and commitment shares), a proposed Texas property acquisition priced at $11,168,864 (including $7,000,000 cash at closing and a $250,000 nonrefundable earnest deposit), an outstanding investment commitment letter, and an ongoing strategic shift toward power generation and data center infrastructure. Closing and financing for the Texas acquisition are subject to customary conditions and the company has not secured full financing.

1606 Corp. amended its agreement to buy real property and related assets in Angelina County, Texas from Jefferson Enterprise Energy, LLC. The First Amendment moves the closing date from April 15, 2026 to May 22, 2026 while keeping the total purchase price at $11,168,864. The Company’s prior $250,000 earnest money deposit is now fully earned by the seller as a non-refundable extension fee and will not be credited against the price, even if the deal does not close. From April 13, 2026 until closing, 1606 Corp. must provide information, on seller’s written request, to verify its financial ability to complete the acquisition.

1606 Corp. filed its Annual Report on Form 10-K, highlighting a strategic pivot toward power-backed data center infrastructure. The company signed a Purchase and Sale Agreement for a 132-acre site with a power generation asset and a 50,000 square foot data center-ready facility, forming the basis of a scalable platform.

Management is pursuing a non-binding Letter of Intent with Sim Agro Inc. to support power plant operations and has engaged Moody for capital markets and financing support. The company emphasizes its fully reporting status and believes its captive power model and AI-focused data center strategy, if executed successfully, could create long-term shareholder value, while cautioning that outcomes may differ materially from expectations.