One World Products Files Q2 2024 10-Q
Ticker: OWPC · Form: 10-Q · Filed: Aug 21, 2024 · CIK: 1622244
| Field | Detail |
|---|---|
| Company | One World Products, Inc. (OWPC) |
| Form Type | 10-Q |
| Filed Date | Aug 21, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
OWPC filed its Q2 10-Q. Financials updated.
AI Summary
One World Products, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as One World Pharma, Inc., is based in Las Vegas, NV. The filing details financial information for the second quarter and the first six months of 2024, comparing it to the same periods in 2023.
Why It Matters
This filing provides investors with an update on One World Products' financial performance and position as of mid-2024, crucial for understanding its ongoing operations and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can reveal significant operational and financial risks.
Key Players & Entities
- One World Products, Inc. (company) — Filer
- One World Pharma, Inc. (company) — Former company name
- PUNTO GROUP, CORP. (company) — Former company name
- 20240630 (date) — Reporting period end date
- 20240821 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing date is 20240821.
What were One World Products, Inc.'s former names?
The company was formerly known as One World Pharma, Inc. and prior to that, PUNTO GROUP, CORP.
In which state is One World Products, Inc. incorporated?
The company is incorporated in Nevada (NV).
What is the Standard Industrial Classification (SIC) code for One World Products, Inc.?
The SIC code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 4,606 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-08-21 17:23:04
Filing Documents
- form10-q.htm (10-Q) — 1357KB
- ex31-1.htm (EX-31.1) — 17KB
- ex31-2.htm (EX-31.2) — 17KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- form10-q_001.jpg (GRAPHIC) — 24KB
- 0001493152-24-033467.txt ( ) — 8002KB
- owpc-20240630.xsd (EX-101.SCH) — 65KB
- owpc-20240630_cal.xml (EX-101.CAL) — 69KB
- owpc-20240630_def.xml (EX-101.DEF) — 327KB
- owpc-20240630_lab.xml (EX-101.LAB) — 408KB
- owpc-20240630_pre.xml (EX-101.PRE) — 413KB
- form10-q_htm.xml (XML) — 1313KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 1 ITEM 1.
FINANCIAL STATEMENTS (Unaudited)
FINANCIAL STATEMENTS (Unaudited) 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 2 Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Notes to the Condensed Consolidated Financial Statements (Unaudited) 6 ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 23 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 27 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 27
- OTHER INFORMATION
PART II - OTHER INFORMATION 28 ITEM 1.
Legal Proceedings
Legal Proceedings 28 ITEM 1A.
RISK FACTORS
RISK FACTORS 28 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 28 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 28 ITEM 4. MINE SAFETY DISCLOSURES 28 ITEM 5. OTHER INFORMATION 28 ITEM 6. EXHIBITS 29
SIGNATURES
SIGNATURES 30 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL ONE WORLD PRODUCTS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash $ 362,191 $ 726 Inventory 18,153 - Prepaid expenses 38,044 13,156 Total current assets 418,388 13,882 Security deposits 85,000 85,000 Licenses 75,000 - Total Assets $ 578,388 $ 98,882 Liabilities and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $ 536,338 $ 528,645 Accrued expenses 961,705 939,368 Dividends payable 226,566 196,734 Convertible note payable, related party, current maturities - 750,000 Notes payable, related parties, current maturities - 1,146,500 Notes payable, net of $ 434,289 and $ 24,136 of debt discounts at June 30, 2024 and December 31, 2023, respectively 1,200,711 310,864 Notes payable 1,200,711 310,864 Total current liabilities 2,925,320 3,872,111 Notes payable, related parties, long-term portion, net of $ 7,153 of debt discounts at June 30, 2024 2,236,828 - Total Liabilities 5,162,148 3,872,111 Series A convertible preferred stock, $ 0.001 par value, 500,000 shares authorized; 99,733 shares issued and outstanding at June 30, 2024 and December 31, 2023 997,330 997,330 Series B convertible preferred stock, $ 0.001 par value, 600,000 shares authorized; 238,501 shares issued and outstanding at June 30, 2024 and December 31, 2023 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 June 30, 2024 and December 31, 2023, respectively - - Common stock, $ 0.001 par value, 300,000,000 shares authorized; 104,329,919 and 79,827,618 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 104,330 79,828 Additional paid-in capital 20,17