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1606 Corp. (CBDW): material weakness open 1,763 days

By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.

1606 Corp. reported ineffective internal control over financial reporting because of a material weakness in 3 filings since Apr 17, 2024. It stated one or more material weaknesses in 19 more SEC filings that gave no conclusion on whether that control is effective. The latest was its 10-Q for the period ended Jun 30, 2026.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #12248

Causes the company named

Segregation of duties · 22Entity-level and governance · 21

What the latest filing says

is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to our management, including our principal executive officer, as appropriate to allow timely decisions regarding required disclosure due to the material weaknesses described below. Based on our evaluation under the framework described above, our management concluded that we had “material weaknesses” (as such term is defined below) in our control environment and financial reporting process consisting of the following as of the Evaluation Date: 1) lack of a functioning audit committee resulting in ineffective oversight in the establishment and monitoring of required internal control and procedures; and 2) inadequate segregation of duties consistent with control objectives. A “material weakness” is defined under SEC rules as a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of a company’s annual or interim fin [...]

From the controls section of the 10-Q filed Aug 14, 2026. Read the full filing on SEC EDGAR.

Company response: 1606 Corp. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.

Filings

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Based on public SEC filings. Causes are grouped into standard categories by Ctrl Worx. The filings are the authority. Ctrl Worx is not affiliated with 1606 Corp. or the SEC. Not investment advice. Why you can rely on the Watch List.