Bit-resolution decrease for internet

I would like to use an audio codec based on WAVE PCM. It should be a
little different though. The bit-resolution should be set to equal
1/(sampling rate X # of channels). The bit-rate should be set to equal
1 bit per second. I would like to use this codec to transport audio
files though the internet via email.

I am looking for frequency response. In digital audio the sampling
rate must be at least twice the highest frequency in the signal. It
would like a highest frequency of at least 200 KHz. This would require
a sample rate of at least 400 KHz.

In this codec the bit-resolution is decreased to maintain a low bit
rate of 1 bit/sec. The bit-resolution is divided by the sampling rate
and the # of channels to acheive this.