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

Acquisition (Tables) (OWP Ventures, Inc.)

Acquisition (Tables) (OWP Ventures, Inc.)

9 Months Ended

Dec. 31, 2018

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

According to the purchase method of accounting, the Company recognized the identifiable assets acquired and liabilities assumed as follows:

	May 30,
	2018
Assets Acquired:
Cash		26,446
Prepaid Expenses⁽¹⁾		55,293
Fixed Assets		103,296
Total		185,035

Liabilities Assumed:
Accounts Payable		16,365
Accrued Expenses		5,761
Total		22,126

Net Assets (Liabilities)		162,909

⁽¹⁾Prepaid expenses include $29,356 of costs incurred in obtaining the licenses. No further adjustment to fair value was necessary due to the highly speculative nascent stage of Colombia’s legal cannabis industry, uncertain regulatory and unrestricted Colombian licensing environment, and additional permissions and authorizations necessary to execute the Company’s business plan.