Weighted Walking Stick with 1 Counter Remaining

My play group is having some debate about the Weighted Walking Stick. If it has 1 counter remaining, does it still inflict +1 damage? Also, is only 1 counter removed per strike (for the Walking Stick's +1 damage, giving it 5 uses)? Or is 1 counter removed per damage inflicted by the strike in total?

For example: A vampire equipped with the Weighted Walking Stick and has POT plays Undead Strength. The vampire strikes for a total of 4 damage (1 base, +1 from the Walking Stick and +2 from Undead Strength). How many counters are removed?

Weighted Walking Stick
Only usable before range is determined during the first round of combat.

Put this card with 5 counters on it on this minion; it becomes a melee weapon equipment that can strike: strength+1 damage. For each damage inflicted by this strike (even if prevented), burn 1 counter from this card. Burn this card if it has no counters. A minion can have only one Weighted Walking Stick.

Undead Strength
p Strike: hand strike or use a melee weapon strike. This strike is at +1 damage.

P Strike: hand strike or use a melee weapon strike. This strike is at +2 damage.

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