UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On June 4, 2025, One World Products, Inc., a Nevada corporation (the “Company”), entered into a Letter of Intent (the “Eco Bio LOI”) with Eco Bio Plastics Midland, Inc. (“Eco Bio”).
The non-binding terms of the Eco Bio LOI include the following terms:
| - | The Company would acquire substantially all of the assets of Eco Bio for $600,000 in cash; | |
| - | The parties would attempt to negotiate and execute a definitive agreement by June 15, 2025; and | |
| - | The parties would target June 30, 2025, as the closing date of the asset acquisition agreement. |
The binding terms of the Eco Bio LOI include the following terms:
| - | Eco Bio agreed to a 60-day period of exclusivity; | |
| - | In consideration of Eco Bio’s granting such exclusivity, the Company delivered a $100,000 refundable deposit (the “Refund Amount”) to Eco Bio, which would be applied to the purchase price of the acquired assets or refunded to the Company, in the event the asset acquisition transaction does not close; and | |
| - | The refund of the Deposit Amount was personally guaranteed by Fukuji Saotome. |
The foregoing description of the Eco Bio LOI is qualified in its entirety by the full text of the Eco Bio LOI, which is filed as Exhibit 10.1 to, and incorporated by reference in, this Current Report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Letter of Intent between the Company and Eco Bio Plastics Midland, Inc. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| One World Products, Inc. | ||
| Date: June 10, 2025. | By: | /s/ Isiah L. Thomas, III |
| Name: | Isiah L. Thomas, III | |
| Title: | Chief Executive Officer | |
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