UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On June 20, 2025, One World Products, Inc., a Nevada corporation (the “Company”), entered into a CFO Consulting Agreement (the “Rowland Agreement”) with William (Bill) Rowland, ASHE, CSI, CPA, pursuant to which Mr. Rowland will serve as the Company’s Interim Chief Financial Officer effective July 1, 2025. The term of the Rowland Agreement shall extend for an as-yet undetermined period of time that is mutually agreeable to both the Company and Mr. Rowland, unless terminated by either party upon 30-days’ notice. Under the Rowland Agreement, Mr. Rowland is to be compensated at the rate of $200 per hour, payable in arrears.
The foregoing description of the Peterson Employment Agreement is qualified in its entirety by the full text of the Rowland Employment Agreement, which is filed as Exhibit 10.1 to, and incorporated by reference in, this Current Report.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Chief Financial Officer. On May 7, 2025, Todd Peterson resigned from his positions as Chief Financial Officer, Secretary and Treasurer of One World Products, Inc. (the “Company”), effective June 30, 2025.
On June 20, 2025, the Company entered into the Rowland Agreement with William (Bill) Rowland, ASHE, CSI, CPA, who is to become the Company’s Interim Chief Financial Officer effective July 1, 2025 (the “Rowland CFO Date”). Until the Rowland CFO Date, Mr. Rowland is to provide financial consulting services with respect to pending Company transactions and other financial matters.
William (Bill) Rowland is the principal consultant working as an independent contractor under W. P. Rowland Properties Corp (herein “WPRR”), (Arizona), also d/b/a “CDMone LLC,” which he formed in 1984 and is its sole owner. Over the past 10 years, Mr. Rowland has provided services as an independent “Manager and Consultant” were provided through contracts with WPRR. The Management and Consulting services work he performed varied from advisory services across multiple industries, to in charge roles in numerous project initiatives to expand or re-position businesses including these major client assignments. Mr. Rowland is an expert in financial management of diverse enterprises, using his expertise as a Certified Public Accountant, experience in Business Advisory Services and Financial Management bolstered by his deep understanding of accounting, insurance, legal contracts, real estate acquisition, due diligence, operation processes, cost estimating, risk analysis and management of complex initiatives. Mr. Rowland is a graduate of Indiana University (BS), a past member of the American Institute of Certified Public Accountants (CPA), American Society for Healthcare Engineering (ASHE), Construction Specifications Institute (CSI), held Building and Engineering construction licenses from California to North Carolina and served on the American Arbitration Association Construction Industry Panel.
In conjunction with Mr. Rowland’s appointment as Chief Financial Officer, the Company and Mr. Rowland entered into the Rowland Employment Agreement. In this regard, the information set forth under Item 1.01 is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | CFO Consulting Agreement dated June 20, 2025, between the Company and William (Bill) Rowland, d/b/a W.P. Rowland Properties Corp. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
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 30, 2025. | By: | /s/ Isiah L. Thomas, III |
| Isiah L. Thomas, III | ||
| Chief Executive Officer | ||