Quarterly report pursuant to Section 13 or 15(d)

Nature of Business and Significant Accounting Policies (Tables)

v3.24.3
Nature of Business and Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of Common Control and Ownership Interest

The accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control and ownership at September 30, 2024:

 

    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.