One World Products Files Q1 2024 10-Q

TL;DR

OWPC filed its Q1 2024 10-Q. Financials are in.

AI Summary

One World Products, Inc. filed a 10-Q for the period ending March 31, 2024. The company, formerly known as One World Pharma, Inc. and PUNTO GROUP, CORP., is based in Las Vegas, Nevada. The filing details financial information for the first quarter of 2024, including comparisons to the same period in 2023.

Why It Matters

This filing provides investors with a quarterly update on One World Products' financial performance and position, crucial for understanding the company's ongoing operations and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it represents a standard financial disclosure for a public company, but the specific financial health and operational details within the report would determine the ultimate risk level.

Key Numbers

• Q1 2024 — Reporting Period (Financials for the first quarter of 2024 are detailed.)
• 2023-01-01 to 2023-03-31 — Prior Period (Comparative financial data from the first quarter of 2023 is included.)

Key Players & Entities

• One World Products, Inc. (company) — Filer
• One World Pharma, Inc. (company) — Former Company Name
• PUNTO GROUP, CORP. (company) — Former Company Name
• 20240331 (date) — Reporting Period End Date
• 20240612 (date) — Filing Date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1533KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-q_001.jpg (GRAPHIC) — 10KB
• 0001493152-24-023530.txt ( ) — 7893KB
• owpc-20240331.xsd (EX-101.SCH) — 62KB
• owpc-20240331_cal.xml (EX-101.CAL) — 61KB
• owpc-20240331_def.xml (EX-101.DEF) — 282KB
• owpc-20240331_lab.xml (EX-101.LAB) — 375KB
• owpc-20240331_pre.xml (EX-101.PRE) — 366KB
• form10-q_htm.xml (XML) — 1455KB

SIGNATURES

SIGNATURES 29 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL ONE WORLD PRODUCTS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash $ 40,648 $ 726 Accounts receivable 282 - Inventory 26,257 - Prepaid expenses 31,654 13,156 Total current assets 98,841 13,882 Security deposits 85,000 85,000 Total Assets $ 183,841 $ 98,882 Liabilities and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $ 618,956 $ 528,645 Accrued expenses 871,836 939,368 Dividends payable 211,650 196,734 Convertible note payable, related party, current maturities - 750,000 Notes payable, related parties, current maturities - 1,146,500 Notes payable, net of $ 126,670 and $ 24,136 of debt discounts at March 31, 2024 and December 31, 2023, respectively 268,330 310,864 Notes payable 268,330 310,864 Total current liabilities 1,970,772 3,872,111 Notes payable, related parties, long-term portion, net of $ 9,729 of debt discounts at March 31, 2024 2,441,252 - Total Liabilities 4,412,024 3,872,111 Series A convertible preferred stock, $ 0.001 par value, 500,000 shares authorized; 99,733 and 70,233 shares issued and outstanding at December 31, 2023 and 2022, respectively 997,330 997,330 Series B convertible preferred stock, $ 0.001 par value, 600,000 shares authorized; 238,501 and 272,168 shares issued and outstanding at December 31, 2023 and 2022, respectively 3,577,515 3,577,515 Convertible preferred stock value 3,577,515 3,577,515 Stockholders' Equity (Deficit): Preferred stock, $ 0.001 par value, 9,200,000 shares authorized; no shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively - - Common stock, $ 0.001 par value, 300,000,000 shares authorized; 111,092,849 and 79,827,618 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 111,093 7

View Full Filing

View this 10-Q filing on SEC EDGAR