Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

Commitments and Contingencies
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 17 – Commitments and Contingencies


Lease Commitment


The Company leases executive office space in Las Vegas, Nevada. In addition, OWP Colombia leases land in Popayan, Colombia at a rate of 8,918,210 COP per month with a 4% annual escalation on a renewable lease expiring on September 30, 2029, and various offices and homes under leases expiring in less than a year. Amounts of minimum future annual commitments on a calendar year basis in US dollars, excluding common area maintenance fees, under non-cancelable operating leases are as follows:


Year Ending   Lease  
December 31,   Commitments  
2020   $ 160,858  
2021     80,877  
2022     34,528  
2023     35,909  
2024     37,345  
Thereafter     198,669  
Total   $ 548,186  


Rent expense was $136,750 and $-0- for the year ended December 31, 2019 and the period from inception (March 27, 2018) to December 31, 2018, respectively.


Legal Contingencies


There are no material pending legal proceedings to which we are a party or to which any of our property is subject, nor are there any such proceedings known to be contemplated by governmental authorities. None of our directors, officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.