One World Products, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

3 Months Ended

Mar. 31, 2019

The components of lease expense were as follows:

	For the Three
	Months Ended
	March 31, 2019
Finance lease cost:
Amortization of assets	$	9,911
Interest on lease liabilities		4,654
Total lease cost	$	14,565

Supplemental balance sheet information related to leases were as follows:

	March 31, 2019
Finance lease:
Right-of-use asset	$	278,725
Accumulated amortization		(9,911	)
Right-of-use asset, net	$	268,814

Current portion of finance lease liability	$	37,517
Long-term finance lease liability		232,380
Total finance lease liability	$	269,897

Weighted average remaining lease term:
Operating leases		N/A
Finance leases		5.75 years

Weighted average discount rate:
Operating leases		N/A
Finance leases		6.75	%

Supplemental cash flow and other information related to leases was as follows:

	For the Three
	Months Ended
	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for finance leases	$	13,482

Leased assets obtained in exchange for lease liabilities:
Total operating lease liabilities	$	-
Total finance lease liabilities	$	278,725

The Company’s maturities of lease liabilities under finance leases as of March 31, 2019 are as follows:

	Finance
	Leases

2019	$	40,716
2020		55,824
2021		57,498
2022		59,223
2023		61,000
Thereafter		52,097
Total		326,358
Less interest		56,461
Present value of lease liabilities		269,897
Less current portion		37,517
Long-term lease liabilities	$	232,380