One World Products, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 22, 2022 at 08:30 pm
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One World Products, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 0.032864 million compared to USD 0.042323 million a year ago. Net loss was USD 0.69149 million compared to USD 0.753194 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
For the six months, sales was USD 0.043011 million compared to USD 0.065605 million a year ago. Net loss was USD 1.3 million compared to USD 1.79 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.03 a year ago.
One World Products, Inc. is a holding company and conducts its business in Colombia through One World Pharma, S.A.S., a Colombian company (OWP SAS), its wholly owned subsidiary. OWP SAS has the licenses to cultivate, produce and distribute the raw ingredients of the cannabis and hemp plant for medicinal, scientific, and industrial purposes in the town of Esmeralda-Popayan, Cauca, Colombia. Its business involves the cultivating, processing, and supplying crude cannabis oil, distillate and isolate to customer specifications. OWP SAS owns approximately 30 acres and has a covered greenhouse built specifically to cultivate high-grade cannabis and hemp. In addition, it has entered into agreements with local farming co-operatives that include small farmers and indigenous tribe members, under, which they cultivate cannabis on up to approximately 140 acres of land using the Company seeds and propagation techniques and sell their harvested products to the Company on an exclusive basis.