1606 (CBDW) S-1/A12 Apr 23IPO registration (amended)Financial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Dec. 31, 2022
Cover [Abstract]
Entity Registrant Name	1606 Corp.
Entity Central Index Key	0001877461
Document Type	S-1/A
Amendment Flag	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Filer Category	Non-accelerated Filer
Entity Ex Transition Period	false
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	86-1497346
Entity Address Address Line 1	2425 E. Camelback Rd Suite 150
Entity Address City Or Town	Phoenix
Entity Address State Or Province	AZ
Entity Address Postal Zip Code	85016
City Area Code	602
Local Phone Number	481-1544

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 105,065	$ 9,543
Inventory	113,174	31,449
Prepaids and other current assets	13,577	0
Total Assets	231,816	40,992
Current Liabilities:
Credit card payable	25,188	0
Accrued interest payable - related party	3,173	0
Note payable to related party	735,050	195,050
Current portion of long-term Note payable to related party	63,456	27,034
Total current liabilities	826,867	222,084
Note payable to related party - long-term, net of current portion	0	36,422
Total liabilities	826,867	258,506
Stockholders' Equity (Deficit):
Common stock, par value $0.0001 per share; 5,000,000,000 shares authorized as of December 31, 2022 and 2021; 37,428,394 and 37,103,394 shares issued and outstanding as of December 31, 2022 and 2021, respectively	3,742	3,710
Additional paid-in capital	236,842	74,374
Accumulated deficit	(841,298)	(301,261)
Total stockholders' deficit	(595,051)	(217,514)
Total liabilities and stockholders' deficit	231,816	40,992
Undesignated Preferred Stock [Member]
Stockholders' Equity (Deficit):
Preferred stock	0	0
Class A Convertible Preferred Stock [Member]
Stockholders' Equity (Deficit):
Preferred stock	$ 5,663	$ 5,663

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued	37,428,394	37,103,394
Common stock, shares outstanding	37,428,394	37,103,394
Undesignated Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	60,000,000	60,000,000
Preferred stock, shares issued	56,635,000	56,635,000
Preferred stock, shares outstanding	56,635,000	56,635,000

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
STATEMENTS OF OPERATIONS
Revenues, net of discounts	$ 13,944	$ 34,069
Cost of goods sold	(12,762)	(21,696)
Gross profit	1,182	12,373
Operating expenses:
Legal and professional	204,672	125,917
Advertising and marketing	118,786	56,979
Contract labor	117,016	75,923
Selling, general and administrative	100,745	54,815
Total operating expenses	541,219	313,634
Loss before income tax	(540,037)	(301,261)
Net loss	$ (540,037)	$ (301,261)
Net loss per share - basic and diluted	$ (0.01)	$ (0.01)
Weighted average shares outstanding - basic and diluted	37,144,459	37,098,910

STATEMENTS OF STOCKHOLDERS DEFI

STATEMENTS OF STOCKHOLDERS DEFICIT AND PARENTS NET INVESTMENT - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Net Parent Investment	Accumulated Deficit
Balance, amount at Dec. 31, 2020	$ 50,347	$ 0	$ 0	$ 0	$ 50,347	$ 0
Net loss	(315,962)	0	0	0	(14,701)	(301,261)
Transfers from Parent	5,648	0	0	0	5,648	0
Issuance of note to former parent, Singlepoint Inc.	(41,294)	$ 0	0	0	(41,294)	0
Preferred stock distributed in connection with spinoff, April 7, 2021, shares		59,000,000
Preferred stock distributed in connection with spinoff, April 7, 2021, amount	0	$ 5,900	0	(5,900)	0	0
Preferred stock cancelled, shares		2,365,000
Preferred stock cancelled, amount	0	$ (237)	$ 0	237	0	0
Common stock distributed in connection with spinoff, April 7, 2021, shares			36,953,394
Common stock distributed in connection with spinoff, April 7, 2021, amount	0	0	$ 3,695	(3,695)	0	0
Common stock issued for cash, shares			150,000
Common stock issued for cash, amount	75,000	0	$ 15	74,985	0	0
Other	$ 8,747	$ 0	$ 0	8,747	0	0
Balance, shares at Dec. 31, 2021	36,953,394	56,635,000	37,103,394
Balance, amount at Dec. 31, 2021	$ (217,514)	$ 5,663	$ 3,710	74,374	0	(301,261)
Net loss	(540,037)					(540,037)
Common stock issued for cash, shares			325,000
Common stock issued for cash, amount	162,500	$ 0	$ 32	162,468	0	0
Balance, shares at Dec. 31, 2022		56,635,000	37,428,394
Balance, amount at Dec. 31, 2022	$ (595,051)	$ 5,663	$ 3,742	$ 236,842	$ 0	$ (841,298)

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (540,037)	$ (301,261)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquisition expense from related party	0	22,161
Other	0	(305)
Change in assets and liabilities:
Accounts receivable	0	82
Inventory	(81,725)	18,816
Prepaids and other current assets	(13,577)	0
Credit card payable	25,188	0
Net Cash Used in Operating Activities	(610,151)	(260,507)
Cash flows provided by (used in) investing activities:
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Accrued interest payable - related party	3,173	0
Note payable - related party	540,000	195,050
Proceeds from sale of common stock	162,500	75,000
Net cash provided by financing activities	705,673	270,050
Net Change in Cash	95,522	9,543
Cash, beginning of the year	9,543	0
Cash, end of the year	105,065	9,543
Supplemental disclosure of cash flow information:
Cash paid for interest	0	0
Income taxes paid	$ 0	$ 0

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	Dec. 31, 2022
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Corporate History 1606 Corp. (“1606” or the “Company”) was formed in February 2021 and was a division of Singlepoint Inc. (“Singlepoint”) until April 2021, when Singlepoint spun off 1606, whereby each holder of common stock and Class A preferred stock of Singlepoint received one share of unregistered and restricted common stock or Class A Preferred Stock of the Company for each such shared owned of Singlepoint. Business 1606 Corp. is an early-stage sales marketing company focused on the domestic hemp cigarette (aka “pre-roll”) market. The Company currently sells its hemp products through individual online sales. Going Concern The financial statements have been prepared assuming that the Company will continue as a going concern. As of December 31, 2022, the Company has yet to achieve significant profitable operations and is dependent on its ability to raise capital from stockholders or other sources to sustain operations and to ultimately achieve viable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue in existence is dependent on its ability to develop its business and achieve profitable operations. Since the Company does not anticipate achieving profitable operations and/or adequate cash flows in the near term, management will continue to pursue additional equity financing through private placements of the Company’s common stock.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Until April 2021, when Singlepoint spun off 1606, the Company was part of Singlepoint’s consolidated operations. For that period, the Company has been carved out of Singlepoint’s consolidated operations for the purpose of presenting the Company on a standalone basis. Singlepoint used a centralized approach to cash management and financing its operations, including the operations of the Company. Transactions between Singlepoint and the Company until the spin off are accounted for through Parent’s Net Investment. Management believes the assumptions underlying the Company’s standalone financial statements are reasonable. Nevertheless, the financial statements for the period of time prior to the spin off may not include all of the actual expenses that would have been incurred had the Company operated as a standalone company during that period. Actual costs that would have been incurred if the Company had operated as a standalone company would depend on multiple factors, including organizational structure and strategic decisions made in various areas. The expenses of the Company for the year ended December 31, 2021 (until April 2021, when Singlepoint spun off 1606), have been allocated by management between the Company and Singlepoint based either on specific attribution of those expenses or, where necessary, based on management’s best estimate of an appropriate proportional allocation. Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results may differ from those estimates. Cash Cash consists of highly liquid investments with an original maturity of three months or less. Accounts Receivable and Credit Policy Trade receivables due from customers are uncollateralized customer obligations due under normal trade terms requiring payment within 30 days from the invoice date. Uncollectable accounts are charged to expense when the account is determined to be uncollectable. An allowance for uncollectible accounts is provided based upon a review of the individual accounts outstanding, prior history of uncollectable accounts receivable and existing economic conditions. Inventory Inventories are valued at the lower of cost (first in, first out basis) or market, and consist primarily of hemp products. The Company’s inventory as of December 31, 2022 and 2021 consists of finished hemp products. At each balance sheet date, the Company evaluates inventories for excess quantities, obsolescence, or shelf-life expiration. This evaluation includes analysis of historical sales levels by product, projections of future demand, and the risk of technological or competitive obsolescence for products. To the extent that management determines there is excess or obsolete inventory or quantities with a shelf life that is too near its expiration for the Company to reasonably expect that it can sell those products prior to their expiration, the Company adjusts the carrying value to estimated net realizable value. No such adjustments were deemed necessary during 2022 or 2021. Revenue Recognition The Company, which has adopted ASC 606 “Revenue from Contracts with Customers” , Cost of Goods Sold and Selling, General and Administrative Expenses Costs associated with the production and procurement of product are included in cost of goods sold, including shipping and handling costs such as inbound freight costs, purchasing, and receiving costs, inspection costs and other product procurement related charges. All other expenses are included in selling, general and administrative expenses, as the predominant expenses associated therewith are general and administrative in nature. Parent’s Net Investment The Company’s equity on the Balance Sheets (until April 2021, when Singlepoint spun off 1606) represents Singlepoint’s net investment in the Company’s business and is presented as “Parent’s Net Investment”. During that time, Singlepoint performed cash management and other treasury-related functions on a centralized basis for all of its divisions, which included 1606. Liabilities recorded by Singlepoint, whose related expenses have been pushed down to the Company, are included in Parent’s Net Investment. All transactions reflected in the Parent’s Net Investment have been considered cash receipts and payments for purposes of the Statements of Cash Flows and are reflected in the financing activities in the accompanying Statements of Cash Flows. Income Taxes Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement and tax basis of assets and liabilities at the applicable tax rates. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates. Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by a tax authority and based upon the technical merits of the tax position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. An unrecognized tax benefit, or a portion thereof, is presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. Net Loss Per Common Share a. Basic loss per share data is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted loss per share data is computed using the weighted-average number of common and dilutive common-equivalent shares outstanding during the period. Dilutive common-equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants, computed using the treasury stock method; and shares of non-vested restricted stock computed using the treasury stock method. These common stock equivalents are excluded from the calculation of weighted average dilutive common shares to the extent they are issued and outstanding, because their effect would be anti-dilutive. There are no shares that are excluded from the calculation of weighted average dilutive common shares. b. At December 31, 2022 and 2021, 37,428,394 and 37,103,394 shares of the Company’s Common Stock were outstanding, respectively. For the year ended December 31, 2021 calculation, the 36,953,394 shares issued in association with the spin off are treated as issued and outstanding from January 1, 2021, for purposes of calculating basic and diluted earnings per share, as prior to the April 2021 spin off no common shares were issued or outstanding. Advertising and Marketing Advertising and Marketing costs are expensed as incurred. Such costs were $118,786 and $56,979 for the years ended December 31, 2022, and 2021, respectively. Fair Value Measurements Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: Level 1 Level 2 Level 3 The Company considers the carrying amounts of its financial instruments (cash, credit card payable and accrued interest payable) in the balance sheets to approximate fair value because of the short-term and/or highly liquid nature of these financial instruments. Segment Reporting The Company operates in one business segment. As a result, the Company’s operations are a single reportable segment, which is consistent with the Company’s internal management reporting. Subsequent Events The Company has evaluated all subsequent events from December 31, 2022, through the date of filing of this report. See Note 7 for disclosure of subsequent events. Recent Accounting Pronouncements The Company has considered the potential impact of recent accounting pronouncement and has not identified any that are expected to have a material impact on the financial statements. Reclassifications Certain prior year amounts have been reclassified to conform with current year presentation.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 3 – RELATED PARTY TRANSACTIONS Related Party Transactions During the years ended December 31, 2022 and 2021, the Company borrowed $540,000 and $195,050, respectively in a series of payments from the Company’s Chief Executive Officer (“CEO”) in exchange for the issuance of a promissory note. The promissory note is not secured by Company assets, does not bear interest and is due in full on December 31, 2023. The total due under this promissory note at December 31, 2022 and 2021 was $735,050 and $195,050, respectively. During 2022, the Company paid $10,000 for services to the Vice President of Operations and $5,000 to another individual for web development services. Both individuals are children of the Company’s CEO. In June 2021, the Company entered into an Asset Purchase Agreement with Singlepoint to purchase certain assets in exchange for the issuance of a promissory note (the “Note”) for $63,456. The Note bears interest at 5%, has a maturity date of August 1, 2024, and requires monthly installment payments installments of $1,902 beginning August 1, 2021. To date, the Company has made no principal or interest payments under the terms of the Note and is therefore, in default. As a result, the Company has classified the entire Note balance, plus accrued interest of $3,173, as a current liability as of December 31, 2022. On April 28, 2021, the Company sold a combined total of 150,000 shares of common stock to three individuals who are children of the Company’s CEO and Sole Director. Each individual paid $25,000 and was issued 50,000 shares of common stock.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
CAPITAL STOCK	Dec. 31, 2022
Stockholders' Equity (Deficit):
CAPITAL STOCK	NOTE 4 – CAPITAL STOCK Capital Stock The Company’s authorized capital stock consists of 5,000,000,000 shares of common stock at $0.0001 par value per share and 100,000,000 shares of Preferred Stock at $0.0001 par value per share. The Company has designated 60,000,000 shares of Preferred Stock as Class A Convertible Preferred Stock (the “Class A Preferred Stock”). The remaining 40,000,000 of Preferred Stock remains undesignated. Common Stock The holders of common stock are entitled to one vote for each share held. The affirmative vote of a majority of votes cast at a meeting which commences with a lawful quorum is sufficient for approval of most matters upon which shareholders may or must vote, including the questions presented for approval or ratification at the Company’s Annual Shareholders’ Meeting. An amendment of the Company’s Articles of Incorporation, however, requires the affirmative vote of a majority of the Company’s total voting power for approval. Common shares do not carry cumulative voting rights, and holders of more than 50% of the common stock have the power to elect all directors and, as a practical matter, to control the Company. Holders of common stock are not entitled to preemptive rights, and the common stock may only be redeemed at the Company’s election. Preferred Stock As of December 31, 2022 and 2021, the Company has 56,635,000 shares of Class A Preferred Stock outstanding, of which 31,230,000 shares are held by the Company’s CEO. The former officers and directors of Singlepoint hold the remaining outstanding shares of Class A Preferred Stock. The Class A Preferred Stock has the following material rights and preferences (as are more fully set forth in the Certificate of Designation of the Class A Preferred Stock). Ranking The Class A Preferred Stock ranks, as to dividends and upon liquidation, senior and prior to the common stock of the Company. Liquidation In the event of liquidation, dissolution or winding up of the Company, the holders of the Class A Preferred Stock are entitled, out of the assets of the Company legally available for distribution, to receive, before any payment to the holders of shares of common stock or any other class or series of stock ranking junior, an amount per share equal to $1.00. Voting Each share of Class A Preferred Stock entitles the holder thereof to 50 votes on any matters requiring a shareholder vote of the Company. Conversion Each share of our Class A Preferred Stock is convertible into common stock on a one-for-25 basis at the option of the holder.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2022
INCOME TAXES
INCOME TAXES	NOTE 5 – INCOME TAXES The Company accounts for its income taxes in accordance with ASC 740 “Income Taxes” Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company has a net operating loss carryforward, however, due to the uncertainty of realization, the Company has provided a full valuation allowance for deferred tax assets resulting from this net operating loss carryforward. The components of income tax expense for the years ended December 31, 2022, and 2021, consist of the following: 2022 2021 Federal tax statutory rate 21.0 % 21.0 % Permanent differences (0.0 )% (0.0 )% Valuation allowance (21.0 )% (21.0 )% Effective rate 0 % 0 % Significant components of the Company’s estimated deferred tax assets and liabilities as of December 31, 2022, and 2021 are as follows: 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 265,673 $ 152,265 Total deferred tax asset 265,673 152,265 Valuation allowance (265,673 ) (152,265 ) Net deferred tax assets $ - $ - The deferred tax assets associated with the net operating losses included in the table above reflect proforma net operating losses as if the Company were a separate taxpayer during the periods presented (until April 2021, when Singlepoint spun off 1606).

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2022
Commitments and Contingencies (Note 6)
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Legal Proceedings and Other Claims From time to time, the Company is party to claims and actions for matters arising out its normal business operations. Management regularly evaluates the status of these legal proceedings and other claims to assess whether a loss is probable or there is a reasonable possibility that a loss, or any additional loss, may have been incurred to determine if accruals are appropriate. If accruals are not appropriate, management further evaluates each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made for disclosure. Although the outcome of claims and litigation is inherently unpredictable, the Company believes it has adequate provisions for any probable and estimable losses. It is possible, nevertheless, that the Company’s consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the resolution of a claim or legal proceeding. Legal expenses related to defense, negotiations, settlements, rulings, and advice of outside legal counsel are expensed as incurred. Employment Agreement In June 2021, the Company entered into an employment agreement with Austen Lambrecht, who is a son of the Company’s CEO. The agreement provided that Austen Lambrecht would serve as Vice President - Operations for a term of three years at an annual salary of Sixty Thousand Dollars ($60,000), and an incentive bonus as determined by the Board of Directors. The agreement automatically renews for additional six-month periods unless either party has provided written termination of this Agreement at least 90 days prior to the expiration of such term. In May 2021, the Company entered into an employment agreement with Mr. Lambrecht. The agreement provided that Mr. Lambrecht would serve as Chief Executive Officer of the Company for a term of three years at an annual salary of Two Hundred Fifty Thousand Dollars ($250,000), and an incentive bonus as determined by the Board of Directors. Employment Agreement (Continued) The agreement shall automatically be renewed for additional six month periods unless either party has provided written termination of the agreement at least 90 days prior to the expiration of such term. Both executives have agreed to waive their rights to payment of any amounts due but unpaid under these employment contracts.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS In January 2023, the Company sold a combined total of 725,000 shares of common stock to unrelated parties for $362,500.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Until April 2021, when Singlepoint spun off 1606, the Company was part of Singlepoint’s consolidated operations. For that period, the Company has been carved out of Singlepoint’s consolidated operations for the purpose of presenting the Company on a standalone basis. Singlepoint used a centralized approach to cash management and financing its operations, including the operations of the Company. Transactions between Singlepoint and the Company until the spin off are accounted for through Parent’s Net Investment. Management believes the assumptions underlying the Company’s standalone financial statements are reasonable. Nevertheless, the financial statements for the period of time prior to the spin off may not include all of the actual expenses that would have been incurred had the Company operated as a standalone company during that period. Actual costs that would have been incurred if the Company had operated as a standalone company would depend on multiple factors, including organizational structure and strategic decisions made in various areas. The expenses of the Company for the year ended December 31, 2021 (until April 2021, when Singlepoint spun off 1606), have been allocated by management between the Company and Singlepoint based either on specific attribution of those expenses or, where necessary, based on management’s best estimate of an appropriate proportional allocation.
Use of Estimates	The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results may differ from those estimates.
Cash	Cash consists of highly liquid investments with an original maturity of three months or less.
Accounts Receivable and Credit Policy	Trade receivables due from customers are uncollateralized customer obligations due under normal trade terms requiring payment within 30 days from the invoice date. Uncollectable accounts are charged to expense when the account is determined to be uncollectable. An allowance for uncollectible accounts is provided based upon a review of the individual accounts outstanding, prior history of uncollectable accounts receivable and existing economic conditions.
Inventory	Inventories are valued at the lower of cost (first in, first out basis) or market, and consist primarily of hemp products. The Company’s inventory as of December 31, 2022 and 2021 consists of finished hemp products. At each balance sheet date, the Company evaluates inventories for excess quantities, obsolescence, or shelf-life expiration. This evaluation includes analysis of historical sales levels by product, projections of future demand, and the risk of technological or competitive obsolescence for products. To the extent that management determines there is excess or obsolete inventory or quantities with a shelf life that is too near its expiration for the Company to reasonably expect that it can sell those products prior to their expiration, the Company adjusts the carrying value to estimated net realizable value. No such adjustments were deemed necessary during 2022 or 2021.
Revenue Recognition	The Company, which has adopted ASC 606 “Revenue from Contracts with Customers” ,
Cost of Goods Sold and Selling, General and Administrative Expenses	Costs associated with the production and procurement of product are included in cost of goods sold, including shipping and handling costs such as inbound freight costs, purchasing, and receiving costs, inspection costs and other product procurement related charges. All other expenses are included in selling, general and administrative expenses, as the predominant expenses associated therewith are general and administrative in nature.
Parent's Net Investment	The Company’s equity on the Balance Sheets (until April 2021, when Singlepoint spun off 1606) represents Singlepoint’s net investment in the Company’s business and is presented as “Parent’s Net Investment”. During that time, Singlepoint performed cash management and other treasury-related functions on a centralized basis for all of its divisions, which included 1606. Liabilities recorded by Singlepoint, whose related expenses have been pushed down to the Company, are included in Parent’s Net Investment. All transactions reflected in the Parent’s Net Investment have been considered cash receipts and payments for purposes of the Statements of Cash Flows and are reflected in the financing activities in the accompanying Statements of Cash Flows.
Income Taxes	Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement and tax basis of assets and liabilities at the applicable tax rates. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates. Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by a tax authority and based upon the technical merits of the tax position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. An unrecognized tax benefit, or a portion thereof, is presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed.
Net Loss Per Common Share	a. Basic loss per share data is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted loss per share data is computed using the weighted-average number of common and dilutive common-equivalent shares outstanding during the period. Dilutive common-equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants, computed using the treasury stock method; and shares of non-vested restricted stock computed using the treasury stock method. These common stock equivalents are excluded from the calculation of weighted average dilutive common shares to the extent they are issued and outstanding, because their effect would be anti-dilutive. There are no shares that are excluded from the calculation of weighted average dilutive common shares. b. At December 31, 2022 and 2021, 37,428,394 and 37,103,394 shares of the Company’s Common Stock were outstanding, respectively. For the year ended December 31, 2021 calculation, the 36,953,394 shares issued in association with the spin off are treated as issued and outstanding from January 1, 2021, for purposes of calculating basic and diluted earnings per share, as prior to the April 2021 spin off no common shares were issued or outstanding.
Advertising and Marketing	Advertising and Marketing costs are expensed as incurred. Such costs were $118,786 and $56,979 for the years ended December 31, 2022, and 2021, respectively.
Fair Value measurements	Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: Level 1 Level 2 Level 3 The Company considers the carrying amounts of its financial instruments (cash, credit card payable and accrued interest payable) in the balance sheets to approximate fair value because of the short-term and/or highly liquid nature of these financial instruments.
Segment reporting	The Company operates in one business segment. As a result, the Company’s operations are a single reportable segment, which is consistent with the Company’s internal management reporting.
Subsequent Events	The Company has evaluated all subsequent events from December 31, 2022, through the date of filing of this report. See Note 7 for disclosure of subsequent events.
Recent Accounting Pronouncements	The Company has considered the potential impact of recent accounting pronouncement and has not identified any that are expected to have a material impact on the financial statements.
Reclassifications	Certain prior year amounts have been reclassified to conform with current year presentation.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2022
INCOME TAXES
Components of Income Tax Expense	2022 2021 Federal tax statutory rate 21.0 % 21.0 % Permanent differences (0.0 )% (0.0 )% Valuation allowance (21.0 )% (21.0 )% Effective rate 0 % 0 %
Deferred Tax Assets and Liabilities	2022 2021 Deferred tax assets: Net operating loss carryforwards $ 265,673 $ 152,265 Total deferred tax asset 265,673 152,265 Valuation allowance (265,673 ) (152,265 ) Net deferred tax assets $ - $ -

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Allowance for doubtful accounts balance	$ 0	$ 0
Advertising and Marketing costs	$ 118,786	$ 56,979
Common stock, shares outstanding	37,428,394	37,103,394
Shares issued		36,953,394

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended		12 Months Ended
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jun. 30, 2021	Apr. 28, 2021	Dec. 31, 2022	Dec. 31, 2021
Promissory note related party			$ 735,050	$ 195,050
Services charges paid			10,000
Web development service expense			5,000
Common shares issued				36,953,394
Chief Executive Officer [Member]
Promissory note related party			$ 540,000	$ 195,050
Related Party Transaction, Due Date			Dec. 31, 2023
CEO and Sole Director [Member]
Number of shares of common stock		150,000
Individual Paid, Amount		$ 25,000
Common shares issued		50,000
Asset Purchase Agreement [Member]
Promissory note related party	$ 63,456
Related Party Transaction, Rate	5%
Related Party Transaction, Amounts of Transaction	$ 1,902
Maturity date	Aug. 01, 2024
Accrued interest			$ 3,173

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - $ / shares	12 Months Ended
CAPITAL STOCK (Details Narrative) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, par value	$ 0.0001	$ 0.0001
Common Stock, Voting Rights	The holders of common stock are entitled to one vote for each share held.
Common stock, shares authorized	5,000,000,000	5,000,000,000
Undesignated preferred stock, shares authorized	40,000,000	40,000,000
Preferred Stock, Voting Rights	Each share of Class A Preferred Stock entitles the holder thereof to 50 votes on any matters requiring a shareholder vote of the Company.
Preferred Stock, Conversion Basis	Each share of our Class A Preferred Stock is convertible into common stock on a one-for-25 basis at the option of the holder.
Liquidation, amount per share	$ 1
Class A Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	60,000,000	60,000,000
Number of preferred stock shares held by CEO	31,230,000
Preferred stock, shares outstanding	56,635,000	56,635,000

INCOME TAXES (Details)

INCOME TAXES (Details)	12 Months Ended
INCOME TAXES (Details)	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Federal tax statutory rate	21%	21%
Permanent differences	(0.00%)	(0.00%)
Valuation allowance	(21.00%)	(21.00%)
Effective rate	0%	0%

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carry forwards	$ 265,673	$ 152,265
Total deferred tax asset	265,673	152,265
Valuation allowance	(265,673)	(152,265)
Net deferred tax assets	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Jun. 30, 2021	May 31, 2021
Commitments and Contingencies (Note 6)
Term of agreement		90 days
Annual salary	$ 60,000	$ 250,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	1 Months Ended
	Jan. 31, 2023 USD ($) shares
Common stock sold \| shares	725,000
Sold to unrelated parties \| $	$ 362,500