UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

Mark One

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~March~~June 3130, 2023

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _______

COMMISSION FILE NO. 000-56498

ONE WORLD VENTURES, INC.

(Exact name of registrant as specified in its charter)

Nevada	83-1516178	6199
(State or Other Jurisdiction of	(IRS Employer	(Primary Standard Industrial
Incorporation or Organization)	Identification Number)	Classification Code
		Number
		Number)

3370 Pink Place, Ste. F.

Las Vegas, NV, 89102

(Address of principal executive offices)

Phone: 702-331-9700

(Registrant’s telephone number)

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically ~~and posted on its corporate Web site, if any,~~ every Interactive Data File required to be submitted ~~and posted~~ pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit ~~and post~~ such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐	Large accelerated filer	☐	Accelerated filer
☒	Non-accelerated filer	☒	Smaller reporting company
		☐	Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each

class

Trading

Symbol(s)

Name of each exchange

on which registered

N/A

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Class		Outstanding as of ~~May~~August 10, 2023
Common Stock, $0.001		1,678,437,018

ONE WORLD VENTURES, INC.

TABLE OF CONTENTS

PART I
Item 1.	Financial Statements	3
	Balance Sheets as of March 31, 2023 (unaudited) and December 31, 2022	3
	Balance Sheets as of June 30, 2023 (unaudited) and December 31, 2022	3
	Statements of Operations for the Three Months Ended March 31, 2023 and 2022 (Unaudited)	4
	Statements of Operations for the Six and Three Months Ended June 30, 2023 and 2022 (Unaudited)	4
	Statements of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2023 and 2022 (Unaudited)	5
	Statements of Changes in Shareholders’ Equity for the Six and Three Months Ended June 30, 2023 and 2022 (Unaudited)	5
	Statements of Cash Flows for the Three Months Ended March 31, 2023 and 2022 (Unaudited)	6
	Statements of Cash Flows for the Six and Three Months Ended June 30, 2023 and 2022 (Unaudited)	6
	Notes to the Financial Statements (Unaudited)	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	18
Item 4.	Controls and Procedures	18
PART II
Item 1.	Legal Proceedings	20
Item 1A.	Risk Factors	20
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	20
Item 3.	Defaults Upon Senior Securities	20
Item 4.	Mining Safety Disclosures	20
Item 5.	Other Information	20
Item 6.	Exhibits	21
	Signatures	22

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

ONE WORLD VENTURES, INC.
BALANCE SHEETS
(unaudited)
	March 31			December 31
	June 30,			December 31
	2023			2022
ASSETS
CURRENT ASSETS
Cash on hand	$	12,011,~~358~~374		$	16,357
Loan receivable - related party		9577,~~036~~942			120,036
Loan receivable		~~685~~700,~~705~~390			670,870
Investment in Coin World, Inc.		26,000			26,000
Total current assets		12,~~818~~815,~~098~~706			833,262
Total assets	$	12,~~818~~815,~~098~~706		$	833,262
LIABILIIES AND STOCKHOLDERS’ EQUITY
LIABILIIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	110,243		$	94,970
Acounts payable	$	123,480		$	94,970
Loan payable - related party		35,423			-
Total current liabilities		~~145~~158,~~665~~903			94,970
STOCKHOLDERS’ EQUITY
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value; 50,000,000 shares authorized; 30,000,000 issued and outstanding at March 31, 2023 and December 31, 2022, respectively		30,000			30,000
Preferred stock, $0.001 par value; 50,000,000 shares authorized;
Common stock, $0.001 par value; 3,500,000,000 shares authorized; 1,678,437,018 issued and outstanding at March 31, 2023 and 851,074,011 at December 31, 2022		1,678,438			851,075
30,000,000 issued and outstanding at June 30, 2023 and
December 31, 2022, respectively		30,000			30,000
Common stock, $0.001 par value; 3,500,000,000 shares authorized;
1,678,437,018 issued and outstanding at June 30 2023
and 851,074,011 at December 31, 2022		1,678,438			851,075
Additional paid-in capital		14,059,924			2,887,287
Accumulated deficit		(3,~~095~~111,~~929~~559	)		(3,030,070	)
Total stockholders’ equity		12,672,432			738,292
Total stockholders' equity		12,656,803			738,292
Total liabilities and stockholders’ equity	$	12,818,098		$	833,262
Total liabilities and stockholders' equity	$	12,815,706		$	833,262

The accompanying footnotes are an integral part of these unaudited ~~consolidated~~ financial statements.

Table of Contents

ONE WORLD VENTURES, INC.
STATEMENTS OF OPERATIONS
(unaudited)
	For the Three Months Ended						For the Six Months Ended
	March 31
	June 30						June 30
	2023			2022			2023			2022
Revenue
Interest income	$	14,~~835~~685		$	15,585		$	29,520		$	31,170
Total revenue		14,~~835~~685			15,585			29,520			31,170
Overhead
Audit and accounting		~~5,500~~-			315,~~876~~157			5,500			19,033
Legal and filing fees		74,~~066~~985			-33,675			12,051			33,675
Rent		105,~~069~~134			11(4,~~339~~550	)		15,203			6,789
General and administrative		5820,~~060~~195			482,~~754~~921			78,255			87,675
Total overhead		8030,~~694~~315			19127,~~969~~202			111,009			147,171
Loss from operations		(6515,~~859~~630	)		(4111,~~384~~617	)		(81,489	)		(116,001	)
Loss for the year	$	(65,859	)	$	(4,384	)
Loss for the three and six months	$	(15,630	)	$	(111,617	)	$	(81,489	)	$	(116,001	)
NET LOSS PER COMMON SHARE
BASIC AND DILUTED	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING - BASIC AND DILUTED		~~924~~1,~~617~~678,~~389~~437,018			825,640,677			1,303,609,578			825,640,677

The accompanying footnotes are an integral part of these unaudited ~~consolidated~~ financial statements.

Table of Contents

ONE WORLD VENTURES, INC.
STATEMENTS OF SHAREHOLDERS’ EQUITY
STATEMENTS OF SHAREHOLDERS' EQUITY
FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022
FOR THE SIX and THREE MONTHS ENDED JUNE 30, 2023 and 2022
	Preferred Stock				Common Stock				Additional		Accumulated
(unaudited)
	Shares		Amount		Shares		Amount		Paid in Capital		Deficit			Total
	Preferred Stock				Common Stock				Additional Paid in		Accumulated
	Shares		Amount		Shares		Amount		Capital		Deficit			Total
Balances, December 31, 2022		30,000,000	$	30,000		851,074,011	$	851,075	$	2,887,287	$	(3,030,070	)	$	738,292
Common shares sold for cash		-		-		827,363,007		827,363		11,172,637		-			12,000,000
Loss for the three months		-		-		-		-		-		(65,859	)		(65,859	)
Loss for the six months		-		-		-		-		-		(81,489	)		(81,489	)
Balances, March 31, 2023		30,000,000	$	30,000		1,678,437,018	$	1,678,438	$	14,059,924	$	(3,095,929	)	$	12,672,432
Balances, June 30, 2023		30,000,000	$	30,000		1,678,437,018	$	1,678,438	$	14,059,924	$	(3,111,559	)	$	12,656,803
Balances, December31, 2021		30,000,000	$	30,000		825,640,677	$	825,642	$	1,746,820	$	(1,875,734	)	$	726,728
Loss for the three months		-		-		-		-		-		(4,384	)		(4,384	)
Loss for the six months		-		-		-		-		-		(116,001	)		(116,001	)
Balances, June 30, 2022		30,000,000	$	30,000		825,640,677	$	825,642	$	1,746,820	$	(1,991,735	)	$	610,727
Balances, March 31, 2023		30,000,000	$	30,000		1,678,437,018	$	1,678,438	$	14,059,924	$	(3,095,929	)	$	12,672,433
Loss for the three months		-		-		-		-		-		(15,630	)		(15,630	)
Balances, June 30, 2023		30,000,000	$	30,000		1,678,437,018	$	1,678,438	$	14,059,924	$	(3,111,559	)	$	12,656,803
Balances, March 31, 2022		30,000,000	$	30,000		825,640,677	$	825,642	$	1,746,820	$	(1,880,118	)	$	722,344
Loss for the three months		-		-		-		-		-		(111,617	)		(111,617	)
Balances, June 30, 2022		30,000,000	$	30,000		825,640,677	$	825,642	$	1,746,820	$	(1,991,735	)	$	610,727

The accompanying footnotes are an integral part of these unaudited ~~consolidated~~ financial statements.

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ONE WORLD VENTURES, INC.
STATEMENTS OF CASH FLOWS
(unaudited)
	For the Three Months Ended
	For the Six Months Ended
	March 31
	June 30
	2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES
Loss for the year	$	(65,859	)	$	(4,384	)
Loss for the six months	$	(81,489	)	$	(116,001	)
Adjustments to reconcile net loss to net cash used in operating activities:
Adjustments to reconcile ner loss to net cash used I operating activities:
Increase in accrued interest		(1429,~~835~~520	)		15(31,~~585~~170	)
Changes in operating assets and liabilities
Increase (decrease) in accounts payable		1528,~~272~~510			(19,~~940~~884	)
NET CASH FLOWS USED IN OPERATING ACTIVITIES		(6582,~~422~~499	)		18(157,~~029~~056	)
CASH FLOWS USED IN INVESTING ACTIVITIES		-			-
Advance to wholly owned subsiduary		-			(25,000	)
CASH FLOWS USED IN INVESTING ACTIVITIES		-			(25,000	)
CASH FLOWS FROM FINANCING ACTIVITES
Common stock issued for cash		12,000,000			-
Loan from related party		35,423			-
Cash received from loan payable		-			250,000
Reduction of related party loan		25,000			-
Loan from related party		35,423			13,865
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS		12,060,423			(18,029	)
Reduction of related party loan		42,094			-
INCREASE IN CASH AND EQUIVALENTS		11,995,001			-
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS		12,077,516			263,865
INCREASE IN CASH AND EQUIVALENTS		11,995,017			81,809
CASH AND CASH EQUIVALENTS - beginning of period		16,357			-
CASH AND CASH EQUIVALETS - end of period	$	12,011,~~358~~374		$	-81,809
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for:
Interest	$	-		$	-
Income taxes	$	-		$	-

The accompanying footnotes are an integral part of these unaudited ~~consolidated~~ financial statements.

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ONE WORLD VENTURES, INC

NOTES TO FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2023

(unaudited)

Note 1 – Operations

Organization and Description of Business

One World Ventures Inc. was a holding company that intended to invest in technologies, communities and systems that facilitate trade, finance, communication and travel, across international boundaries, cultures and languages. The Company looked for alternatives to traditional ways of doing business. Management has, in the United States, Europe and Asia, substantial international experience setting up companies and establishing trade and commerce. The company planned to leverage these skills with emerging technologies and strategic alliances to provide creative solutions and market opportunities. These businesses together would form the cornerstone of our enterprise and give the company the opportunity to grow in the coming years. This combination provided the company with a trading component, a technology component, and a finance component, all to establish a strong presence across business environments. The Company has recently added key corporate financial staff and executive level operating persons in the United States and is planning on major expansions in the short term.

The Company was incorporated on July 7, 1997 under the laws of the State of Nevada. On July 6, 2018, Da Mu Lin purchased 30,000,000 shares of preferred stock, giving him voting control of the company.

On January 2, 2019, the Company entered into a reverse merger with Aqueous International Corporation through a stock exchange. In this type of merger, the legal entity One World Ventures, Inc. was the surviving legal entity and capital structure, but the accounting history is that of Aqueous International Corporation. Additionally, the equity of One World Ventures, Inc. is treated as a capital contribution with no goodwill created.

Aqueous International Corporation, together with its inactive subsidiaries, described in the following paragraph (collectively “AIC” or the “Company”), was established to invest, partner/joint venture with companies to cultivate, manufacture, distribute and sell cannabis products (“Products”) on Native American Reservations in the United States and Internationally, and in geographical areas where state and local ordinances permit such activities or any cannabis business opportunity which is beneficial to the Company. The Company sought strategic partnerships with state of the art cultivators, extractors, manufacturers, distributors and research and development entities to further enhance product offerings. The Company was incorporated on August 28, 2017 in the State of Delaware, and is based in Las Vegas, Nevada. The Company has elected its fiscal year to end on December 31.

One World Ventures, Inc. has become a vertically integrated cryptocurrency datacenter and cryptocurrency miner hosting service. Through our wholly owned subsidiary, One World Mine Place Corporation, we are participating in a joint venture with Coin World Corporation to purchase a property in the State of Wyoming and build a datacenter there. The plan is to build a secure datacenter; wherein, we will provide all the necessities needed to house cryptocurrency miners (such as electricity, internet, maintenance, climate controls and security), and will rent out space to those miners to install their own equipment.

Note 2 – Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

The financial statements and notes are representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to generally accepted accounting principles in the United States of America and have been consistently applied in the preparation of the financial statements, which are stated in U.S. Dollars.

This summary of significant accounting policies is presented to assist in understanding the Company’s financial statements. The financial statements reflect the following significant accounting policies.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

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ONE WORLD VENTURES, INC

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

(unaudited)

Basic and Diluted Net Loss per Share

Diluted loss per share is calculated using the treasury method which requires the calculation of diluted loss per share by assuming that any outstanding stock options with an average market price that exceeds the average exercise prices of the options for the year, are exercised and the assumed proceeds are used to repurchase shares of the Company at the average market price of the common shares for the year. An incremental per share effect is then calculated for each option. The denominator of the diluted loss per share formula is the number common shares outstanding at balance sheet date plus the incremental shares assumed to be issued from treasury for option exercises, less the number of shares assumed to be repurchased, weighted by the period they are assumed to be outstanding. This dilution calculation did not affect current results, the Company has not adopted a stock option plan and there are no warrants and canceled all other common stock equivalents outstanding.

Estimated Fair Value of Financial Instruments

ASC 820, “Fair Value Measurements”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model - derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash equivalents, accounts payable, loans payable, and amounts due to related parties. Pursuant to ASC 820, the fair value of our cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. Amounts in each Level include:

It is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

Income Taxes

The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted rates in effect in the years during which the differences are expected to reverse and upon the possible realization of net operating loss carry - forwards. Additionally, the Company has not recognized any amount for a tax position taken or expected to be taken on its tax return, or for any interest or penalties.

Valuation of Long-Lived Assets

The Company periodically analyzes its long - lived assets for potential impairment, assessing the appropriateness of lives and recoverability of un-depreciated balances through measurement of undiscounted operation cash flows on a basis consistent with accounting principles generally accepted in the United States of America. The long term investment of $200,000 was determined to no longer be viable and was fully impaired on December 31, 2020.

Start-up Costs

The Company expenses the cost of start - up activities, including organizational costs, as those costs are incurred.

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ONE WORLD VENTURES, INC

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

(unaudited)

Accounts Receivable

Accounts receivable are customer obligations due under normal trade terms which are recorded at net realizable value. The Company establishes an allowance for doubtful accounts based on management’s assessment of the collectability of trade receivables. A considerable amount of judgment is required in assessing the amount of the allowance. The Company makes judgments about the creditworthiness of each customer based on ongoing credit evaluations and monitors current economic trends that might impact the level of credit losses in the future. If the financial condition of the customers were to deteriorate, resulting in their inability to make payments, a specific allowance will be required.

Recovery of bad debt amounts previously written off is recorded as a reduction of bad debt expense in the period the payment is collected. If the Company’s actual collection experience changes, revisions to its allowance may be required. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Revenue Recognition

The Company adopted the new revenue recognition standard ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, using the cumulative effect (modified retrospective) approach. Modified retrospective adoption requires entities to apply the standard retrospectively to the most current period presented in the financial statements, requiring the cumulative effect of the retrospective application as an adjustment to the opening balance of retained earnings at the date of initial application. No cumulative-effect adjustment in retained earnings was recorded as the adoption of ASU 2014-09 did not significantly impact the Company’s reported historical revenue. Revenue from substantially all of our contracts with customers continues to be recognized over time as services are rendered. The impact of the adoption of the new standard was not material to the Company’s consolidated financial statements. The Company expects the impact to be immaterial on an ongoing basis.

The primary change under the new guidance is the requirement to report the allowance for uncollectible accounts as a reduction in net revenue as opposed to bad debt expense, a component of operating expenses. The Company has historically included the allowance for uncollectible accounts amounts with its allowance for contractual adjustments as a reduction in operating expenses. However most contracts are collected in full at time of delivery and the Company has immaterial account receivables and also related uncollectible accounts. Accordingly, the adoption of this guidance did not have an impact on our condensed consolidated financial statements, other than additional financial statement disclosures.

The guidance requires increased disclosures, including qualitative and quantitative disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.

Under the new revenue standard, the Company has elected to apply the following practical expedients and optional exemptions:

☐	Recognize incremental costs of obtaining a contract with amortization periods of one year or less as expense when incurred. These costs are recorded within general and administrative expenses.

☐	Recognize revenue in the amount of consideration to which the Company has a right to invoice the customer if that amount corresponds directly with the value to the customer of the Company’s services completed to date.

☐	Exemptions from disclosing the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts for which revenue is recognized in the amount of consideration to which the Company has a right to invoice for services performed, and (iii) contracts for which variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation.

☐	No adjustment is made for the effects of a significant financing component as the period between the time of service and time of payment is typically one year or less.

Foreign Currency

The books of the Company are maintained in United States dollars and this is the Company’s functional and reporting currency. Transactions denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statements of Operations:

During the respective periods presented, the Company was not involved in any transactions which required translation of foreign currencies.

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ONE WORLD VENTURES, INC

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

(unaudited)

Cash and Cash Equivalents

The Company considers cash and cash equivalents to consist of cash on hand, cash on deposit with its attorney, and demand deposits in banks with an initial maturity of 90 days or less. As of the date of these financial statements, the Company held $12,000,000 cash, in an account held by Advanced Markets (Bermuda) Ltd.

Stock-based Compensation

The Company follows ASC 718 - 10, Stock Compensation, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718 - 10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant - date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options; nor has it made any awards of stock, or stock equivalents.

Risks and Uncertainties

The Company is subject to substantial business risks and uncertainties inherent in starting a new business. There is no assurance that the Company will be able to generate sufficient revenues or obtain sufficient funds necessary for launching a new business venture.

Recent Accounting Pronouncements

The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant effect on its financial statements.

Other

The Company consists of one reportable business segment.

Advertising is expensed as incurred.

We did not have any off - balance sheet arrangements as of the date of these financial statements.

Note 3 – Going Concern

Generally accepted accounting principles in the United States of America contemplate the continuation of the Company as a going concern. However, the Company recorded a history of net losses and has accumulated net losses since inception. The Company also has limited business operations, which raises substantial doubt about the Company’s ability to continue as a going concern. The continuation of the Company is dependent upon the continuing financial support of investors and stockholders of the Company. As of our report date, we projected the Company would need additional cash resources to operate during the upcoming 12 months. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

Note 4 – Share Capital

Common Stock

The Company is authorized to issue 3,500,000,000 shares of common stock with a par value of $0.001. All shares have equal voting rights, are non-assessable and have one vote per share.

During the year ended December 31, 2022 the Company issued, for $259,500 cash, 8,833,334 of its common restricted shares to two investors, booked at a cost of $0.03 per share.

During the year ended December 31, 2022, the Company issued, 16,600,000 of its common restricted shares to nine service providers, booked at a total cost of $906,400 or $0.055 per share.

On March 23, 2023, the Company issued 827,363,007 of its restricted common shares to an investor for $12,000,000 cash.

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ONE WORLD VENTURES, INC

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

(unaudited)

Preferred Stock

The Company is authorized to issue 50,000,000 shares of preferred stock with a par value of $0.001. On May 24, 2018, the Company issued 30,000,000 shares of Preferred Stock. These preferred shares carry voting rights of 100 shares of common stock for each preferred share. These are the only preferred shares outstanding at March 31, 2023 and December 31, 2022.

Note 5 – Related Party Transactions

ASC 850, Related Party Disclosures, requires that financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. A related party transaction includes a party or entity who can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.

On August 10, 2018 CEO Da Mu Lin loaned the company working capital of $2,100 through a demand note with interest payable at 1% per annum. The note, including accrued interest, by mutual consent, was applied to the related party account receivable, and subsequently canceled. The related party had contributed an additional $9,000 during the three months ended September 30, 2021, which was also netted into the related party receivable.

On March 31, 2023, Da Mu Lin provided the Company with details of $35,423 of reimbursable expenses that were recorded as an unsecured loan with no repayment terms nor interest. As of June 30, 2023 that amount was increased to $50,923 under the same terms and conditions.

Loan receivable- Related Party

On June 25, 2018 and June 28, 2018, the Company’s subsidiary entered balloon payment promissory notes with the Company CEO, Da Mu Lin (“borrower”), for $200,000 and $100,000. The interest rate is 12% per annum and the unpaid principal and interest shall be payable in monthly installments of $2,000 and $1,000 beginning July 31, 2018 until June 30, 2019 which is the due date, at which time the remaining unpaid principal and interest shall be due in full. On July 10, 2018, the Company entered a balloon payment promissory note with the Company CEO for $200,000. The interest rate is 3% per annum from January 1, 2019. If the principal and interest are paid in full on or before July 31, 2019, the borrower shall be entitled to a discount equal to 1% of the unpaid principal immediately prior to such payment. In November 2018, the borrower repaid $70,000 as principal to the loan entered in June 28, 2018. As of December 31, 2018, the loan receivable from the borrower was $430,000. During the quarter ended December 31, 2019 the loan was reduced to $200,000 plus accrued interest of $6,000. The Company had intended to reduce the loan in exchange for salary but reversed that position during the fourth quarter. On ~~December~~June 3130, ~~2022~~2023, the loan balance though the application of cash received has been reduced to a net of $~~120~~77,~~036~~924.

Note 6 – Loan Receivable

The Company’s subsidiary had entered several loan agreements with Colorado Natural Health Centers, LLC (“CNHC”) in year 2018 and 2017 listed as below:

Date	Loan Amount	Annual Interest rate	Term (Year)	Due Date	Consolidated Loan Agreement	Term (Year)	Annual Interest Rate	Due Date
10/25/2017	200,000	12%	1	10/26/2018	11/1/2018	2	12%	11/1/2020
12/1/2017	50,000	12%	1	11/30/2018
1/16/2018	50,000	12%	1	1/15/2019
7/20/2018	150,000	12%	1	7/20/2019

On November 1, 2018, the Company’s subsidiary entered into a consolidated loan agreement with CNHC (“Borrower”) for a total amount of $469,500 with annual interest rate of 12% and maturity on November 1, 2010, which cancelled and superseded the previous loan agreements listed in above table. While execution of the loan agreement, the borrower agreed to execute a Promissory Notes with amount of $469,000 to insure the repayment of the loan.

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ONE WORLD VENTURES, INC

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

(unaudited)

Note 7 – Earnings per Share

Income (Loss) Per Share. Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. The Company has no common stock instruments, convertible debentures, preferred stock, or options and warrants associated with performance contracts conversions to consider in the calculations (as the impact of the potential common shares would be to decrease the loss per share). Therefore, the diluted and non-diluted (loss) per share is the same, and no diluted loss per share figures are presented.

Note 8 – ~~Subsequent Events~~Legal

~~The~~ On May 11, 2023 CONDUIT LLC, a Wyoming Limited Liability Company; ~~has~~and ~~evaluated~~ACTIVIST ~~all~~INVESTING ~~other~~LLC, ~~subsequent~~a ~~events~~Wyoming ~~through~~Limited ~~April~~Liability 20Company obtained a Summary Judgment against One World Ventures, ~~2023~~Inc. One World Ventures, ~~which~~did isnot ~~the~~have ~~date~~executed ~~these~~documents, ~~audited~~but, ~~financial~~on ~~statements~~December ~~were~~16, 2019, erroneously, issued ~~and~~19,909,404 ~~found~~restricted ~~there~~common ~~are~~shares noto ~~other~~Activist ~~events~~Investing LLC., Conduit’s, apparent, assignee. On June 1, 2020, not having the executed documents One World Ventures purported to ~~report~~cancel the Shares owned by Activist.

As a matter of law, the Court declared that One World Ventures’ purported cancellation of the Shares issued to Activist on June 1, 2020, was without lawful effect and as a matter of law, the Plaintiffs are entitled to an injunction directing One World Ventures to rescind the purported cancellation of the shares owned by Activist.

One World Ventures does not agree with the decision and is considering its options.

Note 9 – Subsequent Events

The Company has evaluated all other subsequent events through August 9, 2023, which is the date these audited financial statements were prepared and found there are no other events to report.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements. For this purpose, any statements contained in this Report that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information includes statements relating to future actions, prospective products, future performance or results of current or anticipated products, sales and marketing efforts, costs and expenses, interest rates, outcome of contingencies, financial condition, results of operations, liquidity, business strategies, cost savings, objectives of management, and other matters. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “will,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “continue” and similar expressions or the negative of these similar terms. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking information to encourage companies to provide prospective information about themselves without fear of litigation so long as that information is identified as forward-looking and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in the information.

These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that we cannot predict. In evaluating these forward-looking statements, you should consider various factors, including the following: (a) those risks and uncertainties related to general economic conditions, (b) whether we are able to manage our planned growth efficiently and operate profitable operations, (c) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations, (d) whether we are able to successfully fulfill our primary requirements for cash, which are explained below under “Liquidity and Capital Resources”. We assume no obligation to update forward-looking statements, except as otherwise required under the applicable federal securities laws. Unless stated otherwise, terms such as the “Company,” “One World,” “we,” “us,” “our,” and similar terms shall refer to One World Ventures, Inc., a Nevada corporation.

Results of Operations

Results for the ~~Three~~Six Months Ended ~~March~~June 3130, 2023, compared to the ~~Three~~Six Months Ended ~~March~~June 30, 2022 and the year end December 31, 2022.

Working Capital	~~March~~June 3130, 2023$		December 31, 2022$
Cash		12,011,358		16,357
Current Assets		12,~~818~~815,~~098~~706		833,262
Current Liabilities		~~145~~164,~~655~~403		94,970
Working Capital (Deficit)		12,~~672~~651,~~443~~303		738,292

Cash Flows for the Three Months Ended:	~~March~~June 3130,2023$			~~March~~June 3130,2022$
Cash Flows used in Operating Activities		(6582,~~422~~499	)		18(157,~~029~~056	)
Cash Flows used in Investing Activities		-			-(25,000	)
Cash Flows provided by Financing Activities		12,~~060~~077,~~423~~516			~~(18~~263,~~029~~865	)
Net (Decrease) Increase in Cash During Period		11,995,001			-
Net Increase in Cash During Period		11,995,017			81,809

Operating Revenues

The Company had revenues of $1429,~~835~~520 and $1531,~~585~~170 for the ~~three~~six months ended ~~March~~June 3130, 2023 and 2022, respectively. Our revenues in 2023 were stable and consisted of interest payments from our CEO Da Mu Lin as the borrower. The Company is the sole note holder. (See Note 6 of the Audited Financial Statements). Currently, we have not generated any revenues from our planned mine hosting operations.

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General and Administrative Expenses

General and administrative expenses consisted primarily of consulting fees, professional fees, and legal and accounting expenses. For the ~~three~~six months ended ~~March~~June 3130, 2023, general and administrative expenses were $5878,~~060~~255, compared to a total of $487,~~754~~675 for the ~~three~~six months ended ~~March~~June 3130, 2022.

The ~~increase~~decrease in operating expenses from 2022 to 2023 was due to ~~our~~reduced ~~reporting~~legal ~~requirements~~and asother ~~well~~costs asassociated ~~expanding~~with ~~business~~reporting ~~operations~~requirements.

Other Income (Expense)

The Company had other income (expense) for the ~~three~~six months ended ~~March~~June 3130, 2023 and 2022 of $0 and $0, respectively.

Net Income (loss)

The net loss for the ~~three~~six months ended ~~March~~June 3130, 2023, was $6581,~~859~~489 compared to $4116,~~384~~001 for the ~~three~~six months ended ~~March~~June 3130, 2022. The ~~increase~~decrease in loss in 2023 was mainly because we had ana ~~increase~~decrease of $539,~~306~~420 in general and administrative expenses, and $745,~~066~~157 in legal, auditing and filing fees.

Liquidity and Capital Resources

The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. Since its inception, the Company has been funded by related parties through capital investment and borrowing of funds.

At ~~March~~June 3130, 2023, the Company had total current assets of $12,~~818~~815,~~098~~706. Current assets consisted primarily of $12,011,~~358~~374 in cash, a loan receivable – related party and a $~~685~~700,~~705~~390 loan receivable which included accrued interest of $~~226~~240,890.~~204.~~ At ~~March~~June 3130, 2023, the Company had total current liabilities of $~~145~~164,~~665~~403 compared to $94,970, at ~~March~~December 313a1, 2022. ~~March~~June 3130, 2023 current liabilities consisted primarily of accounts payable for current services provided in the amount of $113,480 and unsecured advances from a related party in the amount of $50,923.

We had working capital of $12,~~672~~651,~~432~~303 as of ~~March~~June 3130, 2023.

Cash flow from Operating Activities

During the ~~three~~six months ended ~~March~~June 3130, 2023, cash used in operating activities was $~~(65~~82,~~422)~~499 compared to $18157,~~029~~056 for the same period ended ~~March~~June 3130, 2022. The decrease in the amounts of cash used in operating activities was due to the ~~increase~~decrease in loss for the ~~year~~six months $~~(65~~81,~~859)~~849 compared to $4116,~~384~~001 ~~and the decrease in accrued interest to $(14,835) from $15,585~~ for the ~~three~~six months ended ~~March~~June 3130, 2023 and 2022, respectively.

Cash flow from Financing Activities

For the ~~three~~six months ended ~~March~~June 3130, 2023, cash provided by financing activities was $12,~~060~~077,~~423~~516 compared to $~~(18~~263,~~029)~~865 provided during the ~~three~~six months ended ~~March~~June 3130, 2022. The increase in cash flow from financing activities is due to the sale of $12,000,000 worth of common stock, a $35,423 loan from a related party and a $2542,~~000~~094 reduction of loan receivable for the ~~three~~six months ended ~~March~~June 3130, 2023.

Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive business activities. For these reasons, we have included in our audited financial statements that there is substantial doubt that we will be able to continue as a going concern without further financing.

The Company is a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the accompanying financial statements, the Company had an accumulated deficit at ~~March~~June 3130, 2023, of $3,~~095~~117,~~929~~059 and stockholder’s equity of $12,~~672~~651,~~432~~303.

The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs for the next fiscal year and allow it to continue as a going concern. AsFor ofthe ~~March~~six 31months ended June 30, 2023, the Company has a net loss of $6581,~~859~~489 compared to $116,001 for the six months ended June 30, 2022..

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During the ~~three~~six months ended ~~March~~June 3130, 2023, Company has net cash used in operating activities of ($6582,~~422)~~499 and a net loss of $6581,~~422~~489. The Company raised $12,~~060~~077,~~423~~516 from financing activities in the ~~three~~six months ended ~~March~~June 3130, 2023, which resulted in a working capital of $12,~~672~~651,~~432~~303 as of ~~March~~June 3130, 2023.

Future Financings.

We will continue to rely on equity sales of the Company’s common shares in order to continue to fund business operations. Issuance of additional shares will result in dilution to existing shareholders. There is no assurance that the Company will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our business plan of building and operating a crypto mine hosting service.

Since inception, we have financed our cash flow requirements through issuance of common stock and loans from third parties. As we expand our activities, we may, and most likely will, continue to experience net negative cash flows from operations, pending receipt of revenues. Additionally, we anticipate obtaining additional financing to fund operations through common stock offerings, to the extent available, or to obtain additional financing to the extent necessary to augment our working capital. In the future we will need to generate sufficient revenues from sales in order to eliminate or reduce the need to sell additional stock or obtain additional loans. There can be no assurance we will be successful in raising the necessary funds to execute our business plan.

We anticipate that we will incur operating losses in the next twelve months. Our minimal operating history makes predictions of future operating results difficult to ascertain. Our prospects must be considered in light of the risks, expenses and difficulties frequently encountered by companies in their early stage of development, particularly companies in new and rapidly evolving markets. Such risks for us include, but are not limited to, an evolving and unpredictable business model and the management of growth.

To address these risks, we must, among other things, obtain a customer base, implement and successfully execute our business and marketing strategy, continually develop and upgrade our products, business model and website, respond to competitive developments, and attract, retain and motivate qualified personnel. There can be no assurance that we will be successful in addressing such risks, and the failure to do so can have a material adverse effect on our business prospects, financial condition and results of operations.

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes the current accounting for leases and while retaining two distinct types of leases, finance and operating, (1) requires lessees to record a right of use asset and a related liability for the rights and obligations associated with a lease, regardless of lease classification, and recognize lease expense in a manner similar to current accounting, (2) eliminates most real estate specific lease provisions, and (3) aligns many of the underlying lessor model principles with those in the new revenue standard. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. For public companies, the new standard is effective for annual and interim periods in fiscal years beginning after December 15, 2018. For all other entities, including emerging growth companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and interim periods within fiscal years beginning after December 2020. Earlier application is permitted. The Company evaluated the impact on the financial statements and implemented the provisions of ASU 2016-02 for the annual financial statements for the year ended June 30, 2019.

In December 2019, the FASB issued ASU No. 2019-12, simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company is currently evaluating the effect, if any, that the ASU will have on its consolidated financial statements.

The Company reviewed all recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA and the SEC, and they did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

The Company has implemented all the new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Quantitative and Qualitative Disclosures about Market Risk

In the ordinary course of our business, we are not exposed to market risk of the sort that may arise from changes in interest rates or foreign currency exchange rates, or that may otherwise arise from transactions in derivatives.

Contingencies

Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company’s management, in consultation with its legal counsel as appropriate, assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company, in consultation with legal counsel, evaluates the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates a potentially material loss contingency is not probable, but is reasonably possible, or is probable, but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed.

Contractual Obligations

As a “smaller reporting company,” we are not required to provide tabular disclosure obligations.

Inflation

Inflation and changing prices have not had a material effect on our business and we do not expect that inflation or changing prices will materially affect our business in the foreseeable future.

Seasonality

Our operating results and operating cash flows historically have not been subject to seasonal variations. This pattern may change, however, in the event that we succeed in bringing our planned products to market.

Critical Accounting Policies

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management’s estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

Cash and Cash Equivalents

For purposes of reporting within the statement of cash flows, our company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.

Revenue Recognition

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Share-based Compensation

Our company follows the provisions of FASB Accounting Standards Codification (“ASC”) 718, “Share-Based Payment” which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Equity instruments issued to non-employees for goods or services are accounted for at either the fair market value of the goods and services rendered or on the instruments issued in exchange for such services, whichever is more readily determinable, using the measurement date guidelines enumerated in ASC 505-50-30.

Loss per Common Share

Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the year. Fully diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As our company has a loss for the ~~three~~six months ended ~~March~~June 3130, 2023, the potentially dilutive shares are anti-dilutive and therefore they are not added into the earnings per share calculation.

Income Taxes

Our company accounts for income taxes pursuant to ASC 740. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences. Our company maintains a valuation allowance with respect to deferred tax assets. Our company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration our financial position and results of operations for the current year. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry forward year under the Federal tax laws. Changes in circumstances, such as our company generating taxable income, could cause a change in judgment about the realization of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimate.

Fair Value of Financial Instruments

Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820 “Fair Value Measurements and Disclosures” (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) a reporting entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Our company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts our company could realize in a current market exchange. As of March 31, 2023, and 2022, the carrying value of accounts payable and loans that are required to be measured at fair value, approximated fair value due to the short-term nature and maturity of these instruments.

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Patent and Intellectual Property

Our company expenses the costs associated with obtaining a patent or other intellectual property purchased for research and development and has no alternative future use. For the periods ended ~~March~~June 3130, 2023, and 2022, no events or circumstances occurred for which an evaluation of the alternative future use of patent or intellectual property was required.

Impairment of Long-Lived Assets

Our company evaluates the recoverability of long-lived assets and the related estimated remaining lives when events or circumstances lead management to believe that the carrying value of an asset may not be recoverable. For the ~~three~~six months ended ~~March~~June 3130, 2023, and 2022, no events or circumstances occurred for which an evaluation of the recoverability of long-lived assets was required.

Estimates

The consolidated financial statements are prepared on the basis of accounting principles generally accepted in the United States (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses. Actual results could differ from those estimates made by management.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable to smaller reporting companies.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are designed to be effective in providing reasonable assurance that information required to be disclosed in our reports under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission (the “SEC”), and that such information is accumulated and communicated to our management to allow timely decisions regarding required disclosure. Our Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, they concluded that our disclosure controls and procedures were not effective for the ~~quarterly~~ period ended ~~March~~June 3130, 2023.

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The following aspects of the Company were noted as potential material weaknesses:

1. We do not have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act which is applicable to us for the period ended ~~March~~June 3130, 2023; Management evaluated the impact of our failure to have written documentation of our internal controls and procedures on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

We do not as yet have sufficient resources in our accounting function, which restricts the Company’s ability to gather, analyze and properly review information related to financial reporting in a timely manner. In addition, due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. However, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Management evaluated the impact of our failure to have segregation of duties on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

We have inadequate controls to ensure that information necessary to properly record transactions is adequately communicated on a timely basis from non-financial personnel to those responsible for financial reporting. Management evaluated the impact of the lack of timely communication between non–financial personnel and financial personnel on our assessment of our reporting controls and procedures and has concluded that the control deficiency represented a material weakness.

Certain control procedures were unable to be verified due to performance not being sufficiently documented. As an example, some procedures requiring review of certain reports could not be verified due to there being no written documentation of such review. Management evaluated the impact of its failure to maintain proper documentation of the review process on its assessment of its reporting controls and procedures and has concluded deficiencies represented a material weakness.

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In designing and evaluating disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute assurance of achieving the desired objectives. Also, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs.

Changes in Internal Controls

Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that no changes occurred in the Company’s internal controls over financial reporting during the quarter ended ~~March~~June 3130, 2023, that has materially affected, or is reasonably likely to materially affect, the Company’s internal controls over financial reporting.

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PART II – OTHER INFORMATION

Item. 1. Legal Proceedings.

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business.

On May 11, 2023 CONDUIT LLC, a Wyoming Limited Liability Company; and ACTIVIST INVESTING LLC, a Wyoming Limited Liability Company obtained a Summary Judgment against One World Ventures, Inc. One World Ventures, did not have executed documents, but, on December 16, 2019, erroneously, issued 19,909,404 restricted common shares to Activist Investing LLC., Conduit’s, apparent, assignee. On June 1, 2020, not having the executed documents One World Ventures purported to cancel the Shares owned by Activist.

One World Ventures does not agree with the decision and is considering its options.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

On March 23, 2023, the Company issued 827,363,007 of its restricted common shares to an investor for $12,000,000 cash.

The above securities were issued in reliance on the exemption under Section 4(a)(2) of the Securities Act. These securities qualified for exemption under Section 4(a)(2) since the issuance by us did not involve a public offering. The offerings were not “public offerings” as defined in 4(a)(2) due to the insubstantial number of persons involved in the transactions, manner of the issuance and number of securities issued. We did not undertake an offering in which we sold a high number of securities to a high number of investors. In addition, the investors had the necessary investment intent as required by Section 4(a)(2) since they agreed to and received securities bearing a legend stating that such securities are restricted pursuant to Rule 144 of the Act. This restriction ensures that these securities would not be immediately redistributed into the market and therefore not be part of a “public offering.” Based on an analysis of the above factors, we have met the requirements to qualify for exemption under Section 4(a)(2) of the Securities Act for these transactions.

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None.

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Item 6. Exhibits

Exhibit Number		Exhibit Description
31.1		Certification of the Chief Executive Officer Pursuant to Rule 13a-14 or 15d-14 of the Exchange Act pursuant to Section 302 of the Sarbanes- Oxley Act of 2002
31.2		Certification of the Chief Financial Officer Pursuant to Rule 13a-14 or 15d-14 of the Exchange Act pursuant to Section 302 of the Sarbanes- Oxley Act of 2002
32.1		Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
EX-101.INS		Inline XBRL Instance Document the instance document does not appear in the Interactive Data file because its XBRL tags are embedded within the Inline XBRL document.
EX-101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
EX-101.SCH		Inline XBRL Taxonomy Extension Schema Document
EX-101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
EX-101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document
EX-101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		The cover page from this Report, formatted in Inline XBRL (included in Exhibit 101)

Table of Contents

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ONE WORLD VENTURES, INC.

One World Ventures, Inc.

/s/ Da Mu Lin		August 14, 2023
Da Mu Lin, CEO, Principal Executive Officer, Director		Date

/s/ Da Mu Lin		August 14, 2023
Da Mu Lin, CFO, Principal Financial Officer and Principal Accounting Officer		Date

One World Ventures, Inc.
/s/ Da Mu Lin		May 10, 2023
Da Mu Lin, CEO, Principal Executive Officer, Director		Date
/s/ Da Mu Lin		May 10, 2023
Da Mu Lin, CFO, Principal Financial Officer and Principal Accounting Officer		Date

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