Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note 17 – Subsequent Events

 

Debt Financing, Related Parties

 

On August 5, 2022, the Company, through its wholly-owned subsidiary, OWP Ventures, Inc., received an advance of $50,000 from the Company’s Vice Chairman pursuant to an unsecured demand note that carries a 6% interest rate.

 

On August 2, 2022, the Company, through its wholly-owned subsidiary, OWP Ventures, Inc., received an advance of $4,500 from the Company’s Chairman and CEO, pursuant to an unsecured demand note that carries a 6% interest rate.

 

On July 7, 2022, the Company, through its wholly-owned subsidiary, OWP Ventures, Inc., received an advance of $5,000 from the Company’s Vice Chairman pursuant to an unsecured demand note that carries a 6% interest rate.

 

Increase in Authorized Shares of Series B Preferred Stock

 

On August 2, 2022, the Company filed a Certificate of Amendment to the Certificate of Designation of the Company’s Series B Preferred Stock with the Secretary of State of the State of Nevada increased the number of authorized shares of the Series B Preferred Stock from 300,000 to 600,000.

 

Relocation of Headquarters

 

On July 31, 2022, the Company closed its office in Las Vegas, Nevada and moved its headquarters to 2332 Galiano Street, 2nd Floor, Coral Gables, Florida 33134.

 

Disposal of Fixed Assets

 

On August 15, 2022, the Company, through its wholly-owned subsidiary, OWP Ventures, Inc., sold its office furniture and equipment with a net book value of $15,866 for gross proceeds of $6,350, resulting in a loss on disposal of $9,516.