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)."
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."
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.
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