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Dilution. Most companies have the decency to pump a little while selling equity. They don't seem to give a flying f. Gives insiders like McCabe the opportunity to add to his 11+ million shares I guess.
On the flip side, we know what they need money for and where the process is at. Production and revenue stage.
No security update. Only happened a couple of times over the last several years and each was tied to a corporate event, or financing. Getting close, imo.
Earlier this morning OTC Markets had the Expert Market warning paragraph listed under the Pink Limited. Now it is pink Limited, no expert market warning. Something out of the ordinary going on it would appear.
About a 4% increase in the O/S. They are selling but folks are right there to buy them up. It would be nice to have the communication that we absolutely should have as a QB stock but aside from late, well after the fact disclosure, they have not been keeping shareholders up on much of anything.
I assume the near 3 million increase is part of a financing deal to support production but who knows right.
Low public float makes this stock move easy. Very little changes in the structure since they listed the 15.9 million public float. The 10-k confirmed insiders held around 25 million of the unrestricted shares. Not much has changed.
Hopefully, they have been keeping them clean during the certification process. They switched facilities in late 2022, which saved cost but would have sped up the process as the new/current facility meets requirements that the original facility did not and would have taken time as well as money to remedy. The method of certification is similar to most construction processes with inspections at many different stages. Having the initial phase requirements already up to speed may have been when the process of certification began. The equipment was installed during Q1, placed "in service" in Q2, and expected to be operational before the end of 2023.
My thinking was that they might get certification this quarter but it just depends on when it began. 6-9 months on average.
I would think granting exclusive licensing to a company to produce and distribute their product in a targeted market that requires certification would only be granted if the company already had certification but maybe if they were close is good enough.
I'm looking at that supplementary cannabis quota that they were granted in December of 2022 for 2023. I would hope they capitalize on that before EOY. Again I think they need the certifications first.
Definitely showing some progress finally. Hopefully, we are about to see a very well-laid plan come together in a big way.
They have moved the goal posts so many times. Who knows. I wouldn't think they would bring in Sommers unless they were pretty much ready to go, though.
Finally got a little clarity on the VAT tax credit from the 10-K. This had me a bit perplexed...
Other assets consist entirely of a $179,927 and $147,194 VAT receivable at December 31, 2022 and 2021, respectively, which will be returned upon the successful export of the products purchased in which the taxes were originally paid.
The first I had heard of the Colombia Trade Free Zones was in this last PR. These zones are set up so that any exports from these zones are tax-free. Imported equipment is taxed until the company begins exporting goods produced in the zone with the equipment imported then they will be reimbursed.
That is a huge savings. With cultivation and production costs only a fraction of that of North American and EU producers, this should really increase OWP's ability to compete in their targeted markets.
Also looking at that 12 billion dollars the US government just offered last week for the automakers and suppliers. They may have been buying time here knowing what was coming. Minyon Moore has some big connections with the democratic party. I figured the administration would start pumping money from the Inflation Reduction Act to try to prop up the economy before the 2024 presidential race. They haven't even scratched the surface of the money approved. Stellantis said they would likely be able to save from closing their Illinois Jeep plant, and 1,200 jobs, with some help from the government. They also said it would be reworked to produce a new advanced product line. Remember it was Jeep parts that Isiah showcased with FlexNGate.
I'm dug in here, not going anywhere after waiting this long but I do think that if Isiah gets some reassurance from Stellantis on the carbon credit front he's going to merge and that would proceed operations or commercialization. JMO.
Shell status has advantages when it comes to reverse mergers. You can actually do a triangular reverse and avoid having to file any proxy statements. Quick, cheap, and effective. The other thing that can be done in a triangular is to retain licenses and contracts more easily.
Almost like they wanted to bring it to shell status. Why would they want to do that?
The $35,000 downpayment on yet more equipment is more than likely for bioplastics production, just based on who the loan came from, LDL8 consulting which is Larry Lyons. Yet another automotive veteran with experience with both GM and Chrysler.
On August 18, 2023, the Company, through its wholly-owned subsidiary, OWP Ventures, Inc., issued a Secured Promissory Note in the amount of $35,000 to LDL8 Consulting, LLC, for a deposit on the purchase of equipment from another vendor. The Secured Promissory Note is secured by all of the Company’s assets, carries a 10% interest rate and is due on August 18, 2024. In the event of default, the interest rate increases to 25% until repayment.
Larry Lyons has more than four decades of experience in the automotive industry. Prior to retiring, Larry concluded his career at Chrysler where he was vice president of core components, process, and international engineering, following his role as product team vice president, responsible for cars and minivans. Previous to Chrysler, Mr. Lyons enjoyed an expansive 34-year career at General Motors where his work was focused primarily on product development.
Getting loans from former VP of Chrysler for mystery equipment. Keep hope alive.
Wonder if Germany legalizing recreational use has anything to do with it. Colombia and Germany have a strong trading partnership established. Germany's fifth largest trading partner with well over 250 billion in trade imports. The US allows hemp from Colombia but only allows THC for research. The president of the company has a dual residency with one in Germany. OWP has received a supplementary quota for THC export.
Sommers...
They also updated the website and have previously said they would be operational before the end of this quarter.
???
No share structure update this morning. I have been here for years and I don't remember the last time shares were not updated at 6 am Monday morning. Mean anything? No idea but it could be Sommers doing one of the things he was brought in for, raising capital. Hopefully, we don't have to wait another 45 days to see the 10-Q filing this time.
Gtcm? I gotta lay off the delta. Gtsm
Dangerous game but they likely got a whole lot of shares when this bottomed a while back. Those 2 big dips created some capitulation. GTCM is the main instigator. Cypress company, says a lot by itself. They don't even allow US trading. I don't think they will get much this time, at least not that low. Time is too close here.
I'd say Sommers has lined something up. They also added him to the employee list of Isiah International which is interesting.
They said in the shareholder update that they had an exciting few months coming. I suspect you are as ready as I am for some excitement here.
Thx. I'm in another that got hit on the 5th. I figured the same timeline but just wanted to check. OWP filed the day after.
Seems a similar situation here with new board and execs. They are in a "reoranization" over there, and it's caused several uncharacteristic late filings. Hopefully we see this one Monday.
I've been ok. Blew through a ton the last couple of years, and the market beat me up a bit but other than working again after 4.5 years, all is well. My wife reminded me that most people don't retire at 50. Dammit.
Good to see you too. I hope all as well.
.002-.20, I will never forget
When does the the grace period end, or when did it start?
A couple of things stood out.
During the first quarter of 2022, we made payments of approximately $1,400,000 for a state of the art distillation machine that was placed in service during the second quarter of 2023 within our vertically integrated extraction facility in which we entered into a 5-year lease
Finally, they have the ability to produce something.
Then this is interesting...
Other assets consist entirely of VAT receivables in the amounts of $186,950 and $179,927 at March 31, 2023 and December 31, 2022, respectively, which will be repaid to the Company by the applicable taxing authority upon the successful export of the products for which the taxes were originally paid.
Depends on what rate they paid in tax but the range is 5-19 percent for export from Colombia. That would represent from around 1-3.7 million in export products. They are saying they will get a repayment upon export though, which means they may not have to pay the export tax at all. There are only a couple of exemptions to the VAT tax and that includes EV-related exports.
I'm a little confused on this one though because they are not listing assets that would justify paying that much export tax. Did they prepay the tax? Are they acting as a middle man making the product technically not their asset? Why would they pay the export tax? Maybe part of an arraigned deal? Like I said I don't quite understand but it does represent a large export, thinking maybe this is the Stellantis deal in the process.
Financing options are there but is looks like they have something else in mind.
I don't know what is going on exactly but I feel like we are getting very close and when it comes together it will be more than some CBD oil.
At least we aren't getting bumped to the expert market!
I'd say it's crunch time. The thing is, all they really need is a 10-q. Unaudited, easy filing. I assume there is more going on but even so, if they can get a 10-k out, surely they can get the 10-q.
I'm rooting for a full disclosure, whatever this reorganization entails, and not just the 10-q.
Share structure increased by 1.5 after Sommers hire. It just grew by another 1.5 this morning. Sommers's salary, bonus, and additional 1.5 million shares were contingent on a qualified offering of at least 5 million dollars.
https://www.otcmarkets.com/filing/html?id=16702244&guid=IsD-kHeaQY_ZfBh
???
It would seem to me that looking out for shareholders IS looking out for themselves.
Part of his employment package. I'm was waiting to see the share structure update. I believe the 1.5 million and the 1.5 million additional shares for a qualified offering were already issued as restricted shares in the first week of May, after his effective hiring date of April 25th.
(shares have been updated, 6 AM, with no change so those 3 million shares added in May were for Sommers. This means the have already anticipated the other 1.5 for a qualified offering as well)
"Qualified Offering means a registered offering of Common Stock (or units consisting of Common Stock and warrants to purchase Common Stock) for aggregate gross proceeds to the Company of at least $5,000,000 resulting in the listing for trading of the Common Stock on the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors to any of the foregoing)."
https://www.lawinsider.com/dictionary/qualified-offering#:~:text=Qualified%20Offering%20means%20a%20registered%20offering%20of%20Common,%28or%20any%20successors%20to%20any%20of%20the%20foregoing%29.
Sommer, along with several other strategic advisors has been guiding the process for quite a while now. Sommers has been, unbeknownst to shareholders, a part of the advisory since 2020, and a paid consultant since Jan 2021,
"Mr. Sommer has also served on the Company’s Advisory Board since August 2020, and as a consultant to the Company from January 2021 to June 2022, and was paid $2,500 per month for his services as a consultant to the Company."
https://www.otcmarkets.com/filing/html?id=16702244&guid=YyT-keSHJMreJth#ex10-1_htm
Looks like a complex reorganization happening here. My thinking is that the intended end result is Isiah International acquiring specific aspects of OWP and going public, likely NASDAQ, and a spin-out of at least the THC side of OWP.
The multiple exports to Germany in 2022 begin to tie this together with Sommer and company. Some of the potential contracts spoken of in today's PR may have been set up by this group already.
Sommers's employment contract said 1.5 million commons issued upon hiring and an additional 1.5 million issued upon completion of a capital raise of 5 million or more. That agreement has been 8ked with a backdated signing of April 25. On May 4th shares updated with an additional 3 million restricted shares. 3 million, not 1.5 million.
With the delinquent filings getting no flags from the SEC, likely made aware of the circumstances, I would wager the deal was made already and the capital is also being used in part to fund the reorganization, spin-off, reverse merger, one or all the above.
A spin-off of the THC business and Buffalo's role make even more sense looking at this group of investors. No cannabis investments in the past.
This 3.78 million cap with all this company has set up and who is involved is absolutely ridiculous.
It looks like we got an angel investor. Jan Alberti is the Head of Peach Ventures, Joerg Sommer is a managing partner.
Since 2013 Alberti has funded start-ups, mainly from SaaS, Big Data, Enterprise Software, Mobile, Mobility, and Automotive.
Now the deal with Sommer and his salary being contingent on a capital raise of 5 million or greater makes sense.
We will fund you but our guy gets management control.
There are plenty of B preferred shares, as well as A preferred to cover 5 million+.
This is the description on his LinkedIn...
Venture Capital & Business Angel for Startups and Spinoffs.
I think we have the real operations countdown now, within 11 weeks, but I have a feeling a whole lot is going to happen BEFORE operations begin.
I have been quiet for a reason. As Isiah said a few weeks ago, Identify the outliers and remove them from the data set.
I am thinking the complexity of this reorganization is compounded by a plan to spin off the THC business. I think Buffalo will take the lead. Dividend shares, hopefully, 1 for 1.
When they said "streamline" the business in the 10k it points to this. Also, the non-disclosure/non-compete clause of this hire, which is way beyond this company as it currently stands, was for bioplastics and industrial hemp.
There would be a lot to hash out, which would explain the time this has drug out but if Isiah is looking to bring Isiah International in clean it would make a whole lot of sense.
Found the new facility location in Colombia. PAR INDUSTRIAL SAN JORGE BG 25 KM 19 CAR...
Lots of updated shipping data. It looks like the equipment may have only cleared customs in February. Maybe just additional but 2 of the units weighed over 2,000 pounds.
https://www.importgenius.com/colombia/importers/one-world-pharma-sas
I like that word. The business definition keeps my hope alive.
Reorganization, in a business context, is an overhaul of a company's internal structure. Companies go through reorganization for various reasons. Purposes include improving efficiency, cutting costs, repositioning the business, and dealing with corporate changes such as mergers and acquisitions.
I didn't even know that was still up for a vote. I thought it was dead. That could definitely light a spark in the entire sector. Timing some major news here with some major sector news would be nice for sure.
Terry Buffalo was placed on the board of directors/advisory for Element Apothic. They are a health and wellness/beauty supply/ CBD company. Their chief science officer was the keynote speaker for the Cannabis Science Conference this past fall. Some talk of B2B. They might be setting up or have set up a wholesale distribution network.
OWP and UST from PBI.
Buffalo seems well connected to find distribution channels, likely why he is here.
5 declarations of import for One World Pharma SAS. Lab supplies, pharmaceutical glass, steal/iron code, and miscellaneous appliances from China. Machinery from Peru. This was in February. Jives with the gearing up for operations statement.
It would be nice, after we find out what is going on, to start seeing some revenue.
If Isiah didn't have close to 30% equity, maybe more now, in OWP, I would probably be a little more concerned. Gotta think he would protect his own. The vice chair and Defex held close to 20 million in commons and would block him from doing anything to hurt their holdings as well, I would think.
The way the preferred shares are set up any merger or change in ownership is considered a liquidation event unless the holders of the preferred, as a group or a person, hold a majority prior to the merger in which case the shares are transferable on equal terms.
I would assume Isiah would want a non-cash transition here. It seems like a reverse merger would be an option but that is usually done technically as an acquisition where preferred shares are issued for the acquired company giving it a majority in the process.
The only thing about this option would be that OWPC would still face all the uplisting challenges and processes.
If it is Isiah International that Thomas wants to bring public as well as bring it to a higher exchange it is going to have to be done through some type of consolidation prior to an IPO or a SPAC-type deal.
With the legal team, they are using, Clear Think Capital, and Terry Buffalo on contract it is probably going to be more complex than a standard RM.
Yet no yield sign. No notices. Found out QBs can get as much as 180 days from the time of SEC notice but again no notice and not on any warning list.
Honestly, I wish it was 30 days.
Actually, 24 million, with the 23.5 million they already had, he would definitely be there. Defex and the vice chair are 18 million. Might have offered preferred convertibles in the new combined company, after closing. That would also explain why Defex wasn't listed on the S-1 and why he was given director of international role.
Need to get it done already though.
Was looking at Isiah's 13D again. This item may be a big part of what has been happening over the last several months. It would explain the quiet and also all the block trades we saw from 200k-500k. With only 28% I had suspected that Isiah may have been having issues from the inside as well as external conditions to do what he wanted to do here. If he has gained majority control then he could now bring in Isiah International on his terms, which I really believe is his plan. Regardless if that is what he intends or not, a majority holding would change the dynamics. This would become a fully owned subsidiary of Isiah International and would open up financing options dramatically.
Item 4. Purpose of Transaction.
The Reporting Persons acquired the securities of the Issuer for investment purposes. The Reporting Persons may from time to time review and consider various alternative courses of action for maximizing the value of their investment. Such alternatives may include, among other things, the acquisition of additional shares of capital stock of the Issuer on the open market, through privately negotiated transactions with the Issuer or third parties, by a tender or exchange offer or otherwise; ...Reporting Persons may engage in discussions with the Issuer, other stockholders of the Issuer, and the Reporting Persons’ advisors, concerning the business, operations and future plans of the Issuer, and strategic alternatives for maximizing stockholder value.
I think most believe something substantial is taking place. If they didn't this would not be holding up as well. Lots of bread crumbs.
$OWPC
Well, the share structure has been updated with no changes. I'm not sure how you have 40+ million in unrestricted shares but only 15 million in the public float. Even if an insider, Thomas/Isiah International arranged and bought commons to get to a majority holding wouldn't those shares technically be publicly tradeable?
Outside of updating OTC T/A is gagged
IR won't respond
The company won't respond
Spent a little time looking at other companies that did not meet the NT deadline. All were hit with a delisting notice by the 19th, with 30 days to rectify, yet nothing for OWP. Got to believe that SEC/FINRA has been made aware of whatever the situation is here and is giving leeway.
Guess we just wait and see. Fortunately/unfortunately OWP longs are well practiced in waiting.
Rooting for a fat 8-k before a 10-k.
#OWPC