One World Products, Inc 10-Q for FY2024 Q2

One World Products, Inc. (OWPC)

10-Q 2024-08-21 For: 2024-06-30

Added on April 09, 2026

About this 10-Q

One World Products, Inc filed this 10-Q on August 21, 2024, covering the quarter ended June 30, 2024 (FY2024 Q2).

Headline figures

Quarter ended June 30, 2024, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1254; up 1572.0% from $75 a year earlier
Net loss: $865.06K; compared with a net loss of $547.13K a year earlier
Diluted EPS: -$0.01; compared with -$0.01 a year earlier

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Nevada		61-1744826
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

6605 Grand Montecito Pkwy, Suite 100, Las Vegas, Nevada 89149		89149
(Address of principal executive offices)		(zip code)

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

		Page
PART I - FINANCIAL INFORMATION		1
ITEM 1.	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	23
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	27
ITEM 4.	CONTROLS AND PROCEDURES	27
PART II - OTHER INFORMATION		28
ITEM 1.	Legal Proceedings	28
ITEM 1A.	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	30

	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		20,175,359			18,414,456
Subscriptions payable		57,473			45,000
Accumulated other comprehensive income		-			42,328
Accumulated (deficit)		(29,495,767	)		(26,929,686	)
Total Stockholders’ Equity (Deficit)		(9,158,605	)		(8,348,074	)

Total Liabilities and Stockholders’ Equity (Deficit)	$	578,388		$	98,882

	☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
		SECURITIES EXCHANGE ACT OF 1934

	☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
		SECURITIES EXCHANGE ACT OF 1934

	Shares		Amount		Shares		Amount		Shares			Amount			Capital			Payable			Income (Loss)		Deficit			(Deficit)
	For the Three Months Ended June 30, 2024

	Series A				Series B																Accumulated					Total
	Convertible				Convertible										Additional						Other					Stockholders’
	Preferred Stock				Preferred Stock				Common Stock						Paid-In			Subscriptions			Comprehensive		Accumulated			Equity
	Shares		Amount		Shares		Amount		Shares			Amount			Capital			Payable			Income (Loss)		Deficit			(Deficit)
Balance, March 31, 2024		99,733	$	997,330		238,501	$	3,577,515		111,092,849		$	111,093		$	19,646,892		$	69,695		$	-	$	(28,630,708	)	$	(8,803,028	)
Cancellation of common stock held by debt holder in escrow		-		-		-		-		(10,394,610	)		(10,395	)		10,395			-			-		-			-
Common stock issued for services		-		-		-		-		1,631,680			1,632			99,313			(12,222	)		-		-			88,723
Commitment shares issued pursuant to promissory note		-		-		-		-		2,000,000			2,000			78,185			-			-		-			80,185
Relative fair value of warrants issued for loan commitment		-		-		-		-		-			-			351,638			-			-		-			351,638
Amortization of common stock options issued for services		-		-		-		-		-			-			3,852			-			-		-			3,852
Series A convertible preferred stock dividend declared ($0.60 per share)		-		-		-		-		-			-			(14,916	)		-			-		-			(14,916	)
Net loss		-		-		-		-		-			-			-			-			-		(865,059	)		(865,059	)
Balance, June 30, 2024		99,733	$	997,330		238,501	$	3,577,515		104,329,919		$	104,330		$	20,175,359		$	57,473		$	-	$	(29,495,767	)	$	(9,158,605	)

	For the Three Months Ended June 30, 2023

	Series A				Series B													Accumulated						Total
	Convertible				Convertible								Additional					Other						Stockholders’
	Preferred Stock				Preferred Stock				Common Stock				Paid-In			Subscriptions		Comprehensive			Accumulated			Equity
	Shares		Amount		Shares		Amount		Shares		Amount		Capital			Payable		Income (Loss)			Deficit			(Deficit)
Balance, March 31, 2023		89,733	$	897,330		272,168	$	4,082,520		70,202,907	$	70,203	$	17,445,960		$	-	$	134,270		$	(23,492,303	)	$	(5,841,870	)
Series A Convertible Preferred Stock sold for cash		10,000		100,000		-		-		-		-		-			-		-			-			-
Common stock issued for services		-		-		-		-		1,500,000		1,500		88,350			-		-			-			89,850
Commitment shares issued pursuant to promissory note		-		-		-		-		1,666,667		1,667		40,508			-		-			-			42,175
Amortization of common stock options issued for services		-		-		-		-		-		-		35,208			-		-			-			35,208
Series A convertible preferred stock dividend declared ($0.60 per share)		-		-		-		-		-		-		(15,952	)		-		-			-			(15,952	)
Loss on foreign currency translation		-		-		-		-		-		-		-			-		(6,768	)		-			(6,768	)
Net loss		-		-		-		-		-		-		-			-		-			(547,130	)		(547,130	)
Balance, June 30, 2023		99,733	$	997,330		272,168	$	4,082,520		73,369,574	$	73,370	$	17,594,074		$	-	$	127,502		$	(24,039,433	)	$	(6,244,487	)

	For the Six Months Ended June 30, 2024

	Series A				Series B													Accumulated						Total
	Convertible				Convertible								Additional					Other						Stockholders’
	Preferred Stock				Preferred Stock				Common Stock				Paid-In			Subscriptions		Comprehensive			Accumulated			Equity
	Shares		Amount		Shares		Amount		Shares		Amount		Capital			Payable		Income (Loss)			Deficit			(Deficit)
Balance, December 31, 2023		99,733	$	997,330		238,501	$	3,577,515		79,827,618	$	79,828	$	18,414,456		$	45,000	$	42,328		$	(26,929,686	)	$	(8,348,074	)
Common stock issued pursuant to debt modifications		-		-		-		-		10,971,000		10,971		713,115			-		-			-			724,086
Common stock issued for services		-		-		-		-		8,781,301		8,781		559,550			12,473		-			-			580,804
Commitment shares issued pursuant to promissory note		-		-		-		-		4,750,000		4,750		158,728			-		-			-			163,478
Relative fair value of warrants issued for loan commitment		-		-		-		-		-		-		351,638			-		-			-			351,638
Amortization of common stock options issued for services		-		-		-		-		-		-		7,704			-		-			-			7,704
Series A convertible preferred stock dividend declared ($0.60 per share)		-		-		-		-		-		-		(29,832	)		-		-			-			(29,832	)
Loss on foreign currency translation		-		-		-		-		-		-		-			-		(42,328	)		-			(42,328	)
Net loss		-		-		-		-		-		-		-			-		-			(2,566,081	)		(2,566,081	)
Balance, June 30, 2024		99,733	$	997,330		238,501	$	3,577,515		104,329,919	$	104,330	$	20,175,359		$	57,473	$	-		$	(29,495,767	)	$	(9,158,605	)

	For the Six Months Ended June 30, 2023

	Series A				Series B													Accumulated						Total
	Convertible				Convertible								Additional					Other						Stockholders’
	Preferred Stock				Preferred Stock				Common Stock				Paid-In			Subscriptions		Comprehensive			Accumulated			Equity
	Shares		Amount		Shares		Amount		Shares		Amount		Capital			Payable		Income (Loss)			Deficit			(Deficit)
Balance, December 31, 2022		70,233	$	702,330		272,168	$	4,082,520		67,202,907	$	67,203	$	17,123,603		$	-	$	(50,699	)	$	(22,976,365	)	$	(5,836,258	)
Balance		70,233	$	702,330		272,168	$	4,082,520		67,202,907	$	67,203	$	17,123,603		$	-	$	(50,699	)	$	(22,976,365	)	$	(5,836,258	)
Series A Convertible Preferred Stock sold for cash		25,000		250,000		-		-		-		-		-			-		-			-			-
Series A Convertible Preferred Stock issued for services		4,500		45,000		-		-		-		-		-			-		-			-			-
Common stock issued for services		-		-		-		-		1,500,000		1,500		88,350			-		-			-			89,850
Commitment shares issued pursuant to promissory note		-		-		-		-		1,666,667		1,667		40,508			-		-			-			42,175
Common stock sold for cash		-		-		-		-		3,000,000		3,000		297,000			-		-			-			300,000
Amortization of common stock options issued for services		-		-		-		-		-		-		73,338			-		-			-			73,338
Series A convertible preferred stock dividend declared ($0.60 per share)		-		-		-		-		-		-		(28,725	)		-		-			-			(28,725	)
Series A convertible preferred stock dividend declared		-		-		-		-		-		-		(28,725	)		-		-			-			(28,725	)
Gain on foreign currency translation		-		-		-		-		-		-		-			-		178,201			-			178,201
Net loss		-		-		-		-		-		-		-			-		-			(1,063,068	)		(1,063,068	)
Balance, June 30, 2023		99,733	$	997,330		272,168	$	4,082,520		73,369,574	$	73,370	$	17,594,074		$	-	$	127,502		$	(24,039,433	)	$	(6,244,487	)
Balance		99,733	$	997,330		272,168	$	4,082,520		73,369,574	$	73,370	$	17,594,074		$	-	$	127,502		$	(24,039,433	)	$	(6,244,487	)

	2024			2023
	For the Six Months Ended
	June 30,
	2024			2023
Cash flows from operating activities
Net loss	$	(2,566,081	)	$	(1,063,068	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense		-			16,304
(Gain) loss on early extinguishment of debt		724,086			(4,397	)
Amortization of debt discounts		329,310			2,035
Series A preferred stock issued for services		-			45,000
Common stock issued for services		580,804			89,850
Stock options issued for services		7,704			73,338
Decrease (increase) in assets:
Accounts receivable		-			562
Inventory		(18,153	)		(249,212	)
Other current assets		(24,888	)		(76,171	)
Other assets		-			(26,570	)
Right-of-use assets		-			34,391
Security deposits		-			(58	)
Increase (decrease) in liabilities:
Accounts payable		7,693			20,600
Accrued expenses		229,818			327,053
Deferred revenues		-			(642	)
Lease liability		-			(31,940	)
Net cash used in operating activities		(729,707	)		(842,925	)

Cash flows from investing activities
Purchase of fixed assets		-			(5,046	)
Purchase of Pétalo Pharmaceutical, SAS		(75,000	)		-
Net cash used in investing activities		(75,000	)		(5,046	)

Cash flows from financing activities
Proceeds from notes payable, related parties		347,000			-
Repayments of notes payable, related parties		(207,000	)		-
Proceeds from notes payable		1,728,500			262,500
Repayments of notes payable		(660,000	)		-
Proceeds from sale of preferred and common stock		-			550,000
Net cash provided by financing activities		1,208,500			812,500

Effect of exchange rate changes on cash		(42,328	)		199,690

Net increase in cash		361,465			164,219
Cash - beginning		726			11,016
Cash - ending	$	362,191		$	175,235

Supplemental disclosures:
Interest paid	$	99,996		$	35,550
Income taxes paid	$	-		$	-

Non-cash investing and financing transactions:
Dividends payable	$	29,832		$	28,725
Value of debt discounts attributable to commitment shares to related parties	$	9,839		$	-
Value of debt discounts attributable to commitment shares	$	153,639		$	42,175
Value of debt discounts attributable to commitment warrants	$	351,638		$	-

	Jurisdiction of
Name of Entity	Incorporation	Relationship
One World Products, Inc.⁽¹⁾	Nevada	Parent
OWP Ventures, Inc.⁽²⁾	Delaware	Subsidiary
Pétalo Pharmaceutical, S.A.S.⁽³⁾	Colombia	Subsidiary

⁽¹⁾	Holding company in the form of a corporation.
⁽²⁾	Holding company in the form of a corporation and wholly-owned subsidiary of One World Products, Inc.
⁽³⁾	Wholly-owned subsidiary of OWP Ventures, Inc., acquired on May 15, 2024, located in Colombia and legally constituted as a simplified stock company. This company has yet to incur any substantive income or expenses.

	June 30, 2024			December 31, 2023
Assets

Current assets:
Cash	$	30,045		$	1,660
Inventory		42,253			45,791
Other current assets		47,814			2,687
Total current assets		120,112			50,138

Other assets		208,738			226,542
Fixed assets, net		2,319,761			2,346,281

Total Assets	$	2,648,611		$	2,622,961

Liabilities and Stockholders’ Equity (Deficit)

Current liabilities:
Accounts payable	$	349,456		$	392,403
Accrued expenses		442,134			482,587
Notes payable		168,754			183,148
Intercompany liabilities owed to OWP Ventures, Inc.		7,692,501			7,348,034
Total current liabilities		8,652,845			8,406,172

Stockholders’ Equity (Deficit):
Accumulated other comprehensive income		58,686			-
Accumulated (deficit)		(6,062,920	)		(5,783,211	)
Total Stockholders’ Equity (Deficit)		(6,004,234	)		(5,783,211	)

Total Liabilities and Stockholders’ Equity (Deficit)	$	2,648,611		$	2,622,961

		Aggregate
Name	Position	Debts Extended		Shares		Fair Value
Isiah L. Thomas, III	Chairman and CEO	$	27,467		138,000	$	9,108
Dr. Kenneth Perego, II	Vice Chairman		337,000		1,685,000		111,210
Joerg Sommer	President		26,116		131,000		8,646
Dr. John McCabe	>5% Shareholder		1,803,398		9,017,000		595,122
		$	2,193,981		10,971,000	$	724,086

Name	Position	Shares		Fair Value
Isiah L. Thomas, III	Chairman and CEO		2,000,000	$	132,000
Dr. Kenneth Perego, II	Vice Chairman		2,000,000		132,000
Terry Buffalo	Director		2,000,000		132,000
Joerg Sommer	President		500,000		33,000
			6,500,000	$	429,000

	June 30,		December 31,
	2024		2023

On September 27, 2022, the Company completed the sale of a Convertible Promissory Note in the principal amount of $750,000 (the “Convertible McCabe Note”) to Dr. John McCabe, an affiliate investor. The unsecured note matured on September 16, 2024 (the “Maturity Date”), carried interest at a rate of 8% per annum, and the principal and interest were convertible into shares of the Company’s convertible Series B common stock at a conversion price of $15 per share. On March 15, 2024, the Company, through its wholly-owned subsidiary, OWP Ventures, Inc., exchanged the $750,000 of principal, and $90,740 of accrued interest, along with other debts and interest, for a promissory note with a maturity date of March 1, 2027, bearing interest at 7% per annum. As consideration for condensing these loans and extending the maturity dates, the Company awarded Mr. McCabe 9,017,000 shares of common stock. The aggregate fair value of the common stock was $595,122, based on the closing price of the Company’s common stock on the date of grant.	$	-	$	750,000

Total convertible note payable, related party		-		750,000
Less: current maturities		-		-
Convertible note payable, related party, long-term portion	$	-	$	750,000

	For the Three			For the Six
	Months Ended			Months Ended
	June 30, 2024			June 30, 2024

Revenues	$	-		$	-
Cost of goods sold		-			-
Gross profit		-			-

Operating expenses:
General and administrative		63,081			140,947
Professional fees		17,163			32,129
Depreciation expense		14,675			26,520
Total operating expenses		94,919			199,596

Operating loss		(94,919	)		(199,596	)

Other income (expense):
Interest expense		(40,380	)		(80,113	)
Total other expense		(40,380	)		(80,113	)

Net loss	$	(135,299	)	$	(279,709	)
Other comprehensive loss:
Gain on foreign currency translation	$	54,638		$	58,686

Net loss	$	(80,661	)	$	(221,023	)

	Level 1		Level 2			Level 3
	Fair Value Measurements at June 30, 2024
	Level 1		Level 2			Level 3
Assets
Cash	$	362,191	$	-		$	-
Total assets		362,191		-			-
Liabilities
Convertible notes payable, related party
Notes payable, related parties, net of $7,153 of debt discounts		-		2,236,828			-
Notes payable, net of $434,289 of debt discounts		-		1,200,711			-
Total liabilities		-		(3,437,539	)		-
Fair Value, Net Asset (Liability)	$	362,191	$	(3,437,539	)	$	-

Debt Holder	Commitment Shares or Warrants	Commitment Amounts

SDT Equities Note	8,666,667 warrants to purchase shares of the Company’s common stock*	$	520,000
Fourth AJB Note	2,000,000 shares of the Company’s common stock	$	120,000
Third AJB Note	1,666,667 shares of the Company’s common stock	$	100,000

	Three Months Ended June 30,						Increase /
	2024			2023			(Decrease)
Revenues	$	1,254		$	75		$	1,179
Cost of goods sold		229			132			97
Gross profit		1,025			(57	)		1,082

Operating expenses:
General and administrative		150,785			417,834			(267,049	)
Professional fees		223,667			73,664			150,003
Depreciation expense		-			8,447			(8,447	)
Total operating expenses:		374,452			499,945			(125,493	)

Operating loss		(373,427	)		(500,002	)		(126,575	)

Total other expense		(491,632	)		(47,128	)		444,504

Net loss	$	(865,059	)	$	(547,130	)	$	317,929

	Six Months Ended June 30,						Increase /
	2024			2023			(Decrease)
Revenues	$	1,536		$	2,176		$	(640	)
Cost of goods sold		278			1,099			(821	)
Gross profit		1,258			1,077			181

Operating expenses:
General and administrative		349,632			765,131			(415,499	)
Professional fees		802,338			177,512			624,826
Depreciation expense		-			16,304			(16,304	)
Total operating expenses:		1,150,712			958,947			193,023

Operating loss		(1,150,712	)		(957,870	)		192,842

Total other expense		(1,415,369	)		(105,198	)		1,310,171

Net loss	$	(2,566,081	)	$	(1,063,068	)	$	1,503,013

	2024			2023
Operating Activities	$	(729,707	)	$	(842,925	)
Investing Activities		(75,000	)		(5,046	)
Financing Activities		1,208,500			812,500
Effect of Exchange Rate Changes on Cash		(42,328	)		199,690
Net Increase in Cash	$	361,465		$	164,219

Exhibit		Description
2.1		Agreement and Plan of Merger dated February 21, 2019, among the Company, OWP Merger Subsidiary Inc. and OWP Ventures, Inc. (incorporated by reference to Exhibit 2.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2019)
3.1		Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 of the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on November 24, 2014)
3.2		Certificate of Amendment to Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 8, 2019)
3.3		Certificate of Amendment to Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2020)
3.4		Certificate of Designation of Series A Preferred Stock of the Company dated June 1, 2020 (incorporated by reference to Exhibit 3.4 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on June 26, 2020)
3.5		Bylaws of the Company (incorporated by reference to Exhibit 3.2 of the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on November 24, 2014)
3.6		Certificate of Designation of Series B Preferred Stock of the Company dated February 2, 2021 (incorporated by reference to Exhibit 3.1 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on February 8, 2021)
4.1		Promissory Note of the Company in the Principal Amount of $300,000 issued to AJB Capital Investments LLC, dated June 23, 2023 (incorporated by reference to Exhibit 4.1 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 5, 2023)
10.1+		2019 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2020)
10.2+		Form of Stock Option Grant Notice for grants under the 2019 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2020)
10.3+		Form of Option Agreement for grants under the 2019 Stock Incentive Plan (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2020)
10.4+		Letter Agreement between the Company and Isiah L. Thomas, III, dated June 3, 2020 (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 9, 2020)
10.5		Securities Purchase Agreement, dated as of June 23, 2023, between the Company and AJB Capital Investments LLC (incorporated by reference to Exhibit 10.5 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 5, 2023)
10.6		Securities Purchase Agreement, dated as of February 7, 2021, between the Company and ISIAH International LLC (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 8, 2021)
10.7		Registration Rights Agreement, dated June 23, 2023, between the Company and AJB Capital Investments LLC (incorporated by reference to Exhibit 10.7 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 5, 2023)
10.8		Commercial Lease Agreement dated November 26, 2021, between R&B Inversiones S.A.S. and One World Pharma S.A.S. (incorporated by reference to Exhibit 10.10 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 16, 2022)
10.9		Purchase Agreement, dated September 1, 2022, between the Company and Tysadco Partners, LLC (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 7, 2022)
10.10		Securities Purchase Agreement, dated September 1, 2022, between the Company and Tysadco Partners, LLC (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 7, 2022)
10.11		Registration Rights Agreement, dated September 1, 2022, between the Company and Tysadco Partners, LLC (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 7, 2022)
10.12		Convertible Promissory Note Purchase Agreement, dated September 16, 2022, between the Company and Dr. John McCabe (incorporated by reference to Exhibit 10.15 of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission by One World Products, Inc. on November 14, 2022)
10.13		Convertible Note, dated September 16, 2022, between One World Products, Inc. and Dr. John McCabe (incorporated by reference to Exhibit 10.16 of the Form 10-Q filed with the Securities and Exchange Commission by on November 14, 2022)
10.14+		Offer Letter dated April 25, 2023 by and between the Company and Jeorg Sommer (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 1, 2023)
31.1*		Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a)
31.2*		Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a)
32.1*		Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*		Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Schema Document
101.CAL*		Inline XBRL Calculation Linkbase Document
101.DEF*		Inline XBRL Definition Linkbase Document
101.LAB*		Inline XBRL Labels Linkbase Document
101.PRE*		Inline XBRL Presentation Linkbase Document
104*		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Date: August 21, 2024

	One World Products, Inc.

	/s/ Isiah L. Thomas III
	Isiah L. Thomas III
	Chief Executive Officer
	(Principal Executive Officer)

	/s/ Todd Peterson
	Todd Peterson
	Chief Financial Officer
	(Principal Financial Officer)

1.	I have reviewed this quarterly report on Form 10-Q of One World Products, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

	2.	Information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 21, 2024

/s/ Isiah L. Thomas III
Name: Isiah L. Thomas III
Title: Chief Executive Officer

Date: August 21, 2024

/s/ Todd Peterson
Name: Todd Peterson
Title: Chief Financial Officer