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

Leases (Tables)

6 Months Ended

Jun. 30, 2019

The components of lease expense were as follows:

	For the Six Months Ended
	June 30, 2019
Finance lease cost:
Amortization of assets	$	19,971
Interest on lease liabilities		9,158
Total lease cost	$	29,129

Supplemental balance sheet information related to leases were as follows:

	June 30, 2019
Finance lease:
Right-of-use asset	$	278,725
Accumulated amortization		(19,971	)
Right-of-use asset, net	$	258,754

Current portion of finance lease liability	$	38,561
Long-term finance lease liability		222,358
Total finance lease liability	$	260,919

Weighted average remaining lease term:
Operating leases		N/A
Finance leases		5.5 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 Six Months Ended
	June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for finance leases	$	26,964

Leased assets obtained in exchange for lease liabilities:
Total operating lease liabilities	$	-
Total finance lease liabilities	$	260,919

The Company’s maturities of lease liabilities under finance leases as of June 30, 2019 are as follows:

	Finance
	Leases

2019	$	27,234
2020		55,824
2021		57,498
2022		59,223
2023		61,000
Thereafter		51,957
Total		312,876
Less interest		56,461
Present value of lease liabilities		260,919
Less current portion		38,561
Long-term lease liabilities	$	222,358