One World Products Files 2023 10-K

TL;DR

OWPC filed its 2023 10-K. Full financials out now.

AI Summary

One World Products, Inc. filed its 2023 10-K on May 23, 2024, reporting its financial performance for the fiscal year ending December 31, 2023. The company, formerly known as One World Pharma, Inc., is incorporated in Nevada and operates in the Pharmaceutical Preparations sector. Key financial details and operational highlights for 2023 are detailed within the filing.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of One World Products' financial health and operational status for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the company's specific financial performance and market position, not fully detailed here, would determine the true risk level.

Key Players & Entities

• One World Products, Inc. (company) — Filer of the 10-K
• 2023-12-31 (date) — Fiscal year end
• 2024-05-23 (date) — Filing date
• One World Pharma, Inc. (company) — Former company name
• PUNTO GROUP, CORP. (company) — Former company name
• 2019-01-25 (date) — Date of name change
• 2014-10-14 (date) — Date of name change

FAQ

Key Financial Figures

• $0.08225 — istrant based upon the closing price of $0.08225 per share as of June 30, 2023 was appro
• $3,000,000 — s the sole member, Mr. Thomas purchased $3,000,000 of our Series B Preferred Stock in inst
• $1,400,000 — 2022, we made payments of approximately $1,400,000 for the purchase of a state-of-the-art
• $1,564,823 — f foreign subsidiaries in the amount of $1,564,823 for the year ended December 31, 2023.

Filing Documents

• form10-k.htm (10-K) — 2400KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-k_001.jpg (GRAPHIC) — 10KB
• form10-k_002.jpg (GRAPHIC) — 7KB
• 0001493152-24-021067.txt ( ) — 11021KB
• owpc-20231231.xsd (EX-101.SCH) — 85KB
• owpc-20231231_cal.xml (EX-101.CAL) — 98KB
• owpc-20231231_def.xml (EX-101.DEF) — 366KB
• owpc-20231231_lab.xml (EX-101.LAB) — 529KB
• owpc-20231231_pre.xml (EX-101.PRE) — 490KB
• form10-k_htm.xml (XML) — 1979KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 16 Item 1C. Cybersecurity 16 Item 2.

Properties

Properties 16 Item 3.

Legal Proceedings

Legal Proceedings 16 Item 4. Mine Safety Disclosures 16 PART II 17 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 Item 6. [Reserved] 18 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 25 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 26 Item 9A.

Controls and Procedures

Controls and Procedures 26 Item 9B. Other Information 26 PART III 27 Item 10. Directors, Executive Officers and Corporate Governance 27 Item 11.

Executive Compensation

Executive Compensation 29 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 30 Item 13. Certain Relationships and Related Transactions, and Director Independence 31 Item 14. Principal Accounting Fees and Services 33 PART IV 34 Item 15. Exhibits and Financial Statement Schedules 34

SIGNATURES

SIGNATURES 35 PART I Forward Looking Statements This Form 10-K contains "forward-looking" statements including statements regarding our expectations of our future operations. For this purpose, any statements contained in this Form 10-K that are not statements of historical fact may be deemed to be forward-looking "anticipate," "estimate," or "continue" or comparable terminology are intended to identify forward-looking on a variety of factors, many of which are not within our control. These risks and uncertainties include our limited operating history; changes in cannabis laws, regulations and guidelines; our reliance on Colombian licenses, our ability to obtain authorizations and quotas; regulatory compliance risks; competition in our industry; our ability to establish and maintain bank accounts; our ability to comply with foreign trade policies; the continued demand for cannabis and derivate products; our ability to retain and acquire skilled personnel; and the risks involved in conducting operations in Colombia, as well as other factors set forth under the caption "Risk Factors" in this Form 10-K. Although the forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. In light of these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, we undertake no obligation to announce publicly revisions we make to these forward-looking statements to reflect the effect of events or circumstances that may arise after the date of this report. All written and oral forward-looking statements made subsequent to the date of this report and attribut

View Full Filing

View this 10-K filing on SEC EDGAR