One World Products, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Fair Value of Financial Instruments (Tables)

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Investments, All Other Investments [Abstract]

Schedule of Valuation of Financial Instruments at Fair Value on a Recurring Basis

The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balance sheet as of June 30, 2019 and December 31, 2018, respectively:

	Fair Value Measurements at June 30, 2019
	Level 1		Level 2			Level 3
Assets
Cash	$	212,385	$	-		$	-
Right-of-use asset		-		258,754			-
Total assets		212,385		258,754			-
Liabilities
Convertible note payable		-		-			300,000
Advances from shareholders		-		307,141			-
Notes payable		-		-			200,000
Lease liability		-		260,919			-
Total liabilities		-		(568,060	)		(500,000	)
	$	212,385	$	(309,306	)	$	(500,000	)

	Fair Value Measurements at December 31, 2018
	Level 1		Level 2			Level 3
Assets
Cash	$	125,846	$	-		$	-
Total assets		125,846		-			-
Liabilities
Convertible note payable		-		-			300,000
Advances from shareholders		-		514,141			-
Notes payable		-		-			200,000
Total liabilities		-		(514,141	)		(500,000	)
	$	125,846	$	(514,141	)	$	(500,000	)