One World Products, Inc. (OWPC): debt financing — One World Products subsidiary OWP-Colombia files for insolvency reorganization under Colombian law

One World Products, Inc.

OWP-Colombia filed for reorganization under Colombian Law 1116 on Dec 22, 2023, with ~$1.2M in past-due obligations.
Filing triggered default on a $300K promissory note to AJB Capital, which has waived the default during proceedings.
Company intends to continue normal operations subject to court approval; plans to acquire a Bogota Free Trade Zone subsidiary within 4-6 weeks.
Partnerships with Smokiez Edibles and Kx Family Care will continue unaffected by the reorganization.

item 1.01 item 2.04 item 1.03 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

One World Products, Inc. reported a default on loan of $300,000 with AJB Capital Investments, LLC.

Instrument: loan
Principal: $300,000
Counterparty: AJB Capital Investments, LLC
Event: default

Exact text from the filing

The filing of the Restructuring Petition constituted an event of default that could have accelerated obligations under a promissory note in the amount of $300,000 which AJB Capital Investments, LLC (the “Lender”) advanced to the Company on June 23, 2023. Effective as of December 21, 2023, the Lender signed a letter waiving any events of default based on the filing of the Reorganization Proceeding

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283 debt financings filed in the last 30 days. Browse all debt financings →

One World Products, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-003058

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