Stockholders’ Equity |
12 Months Ended |
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Dec. 31, 2023 | |
| Equity [Abstract] | |
| Stockholders’ Equity |
Note 19 – Stockholders’ Equity
Preferred Stock
The Company has authorized shares of $par value “blank check” preferred stock, of which shares have been designated Series A Preferred Stock and shares have been designated Series B Preferred Stock, See Note 17 above for a description of the features and issuances of the Series A Preferred Stock and Series B Preferred Stock.
Common Stock
The Company is authorized to issue an aggregate of shares of common stock with a par value of $. As of December 31, 2023, there were shares of common stock issued and outstanding.
Common Stock Sales
On October 2, 2023, the Company sold shares of common stock at a price of $per share for total cash proceeds of $100,000.
On February 14, 2023, the Company sold shares of common stock at a price of $per share for total cash proceeds of $300,000.
Common Stock Issued on Subscriptions Payable
On March 29, 2022, the Company issued shares of common stock on a Subscriptions Payable for the December 1, 2021 award of common stock to COR IR for services.
Common Stock Issued as a Promissory Note Commitment
On June 23, 2023, the Company paid a commitment fee to AJB Capital in the form of shares of common stock in connection with the issuance of the Third AJB Note (defined above). The aggregate fair value of the common stock was $42,175, based on the closing price of the Company’s common stock on the date of grant. The shares are being amortized as a debt discount over the life of the loan.
Pursuant to the Second AJB Note, which was repaid on September 27, 2022, the Company, AJB Capital was entitled to be issued additional shares of common stock of the Company to the extent AJB Capital’s sale of their previously issued commitment fee shares resulted in net proceeds in an amount less than the defined commitment fee. As a result, the Company issued an additional shares of common stock to AJB Capital on September 15, 2022. The fair value of the shares was $, based on the closing price of the Company’s common stock on the date of grant. In addition, the Company issued another commitment shares to AJB Capital on December 7, 2023, with a fair value of $, based on the closing traded price on the date of grant.
Common Stock Issued for Services, Employees and Consultants
On November 21, 2023, the Company issued shares of common stock to a consultant for services provided. The aggregate fair value of the common stock was $18,500, based on the closing price of the Company’s common stock on the date of grant.
On October 4, 2023, the Company issued shares of common stock to ClearThink Capital Partners, LLC, for services provided. The aggregate fair value of the common stock was $51,487, based on the closing price of the Company’s common stock on the date of grant.
ONE WORLD PRODUCTS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
On September 18, 2023, the Company issued shares of common stock to ClearThink Capital Partners, LLC, for services provided. The aggregate fair value of the common stock was $84,000, based on the closing price of the Company’s common stock on the date of grant. The shares were expensed upon issuance.
Common Stock Issued for Services, Officers and Directors
On June 15, 2023, the Company issued shares of common stock to the Company’s President, Joerg Sommer, for services provided. The aggregate fair value of the common stock was $89,850, based on the closing price of the Company’s common stock on the date of grant. The shares were expensed upon issuance.
Amortization of Stock-Based Compensation
A total of $151,749 and $164,620 of stock-based compensation expense was recognized from the amortization of options to purchase common stock over their vesting period during the years ended December 31, 2023 and 2022, respectively.
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