Futures slip, bank earnings ahead, Powell to speak - what’s moving markets
DETROIT - One World Products, Inc. (OTC:OWPC), a micro-cap company with a market value of $3.36 million, announced Monday it has expanded its Board of Directors from three to seven members as the company prepares to rebrand as Isiah Enterprises. The stock has shown significant volatility, gaining over 52% in the past six months despite a recent 9% decline last week.
The company, led by Chairman and CEO Isiah Thomas, has appointed three new board members: Minyon Moore, a strategic advisor who recently chaired the 2024 Democratic National Convention; Timothy Woods, an executive with experience in corporate operations and business development; and William Rowland, a financial leader with expertise in corporate finance and governance.
A seventh board member is expected to be added at a later date, according to the company’s press release.
"Our expansion from three to seven board members marks an important milestone for One World Products as we prepare to transition into Isiah Enterprises," Thomas said.
The company recently acquired Eco Bio Plastics Manufacturing in Michigan, a facility that processes rubber and bio-based feedstocks into materials for automotive and packaging industries. One World Products reports it is currently shipping tens of thousands of pounds of product weekly. According to InvestingPro data, the company faces financial challenges with a current ratio of 0.07, indicating potential liquidity concerns.
The firm describes itself as the first minority-controlled, athlete-led publicly traded company in sustainable manufacturing. It maintains partnerships with Stellantis, Flex-N-Gate, Orbis Corporation, West Michigan Compounding, and Full Circle Technologies.
One World Products specializes in renewable materials, processing rubber, cellulose, hemp, and other bio-feedstocks into composites for various industries through its Eco Bio Plastics division.
The board expansion comes as the company aims to strengthen its governance structure while accelerating growth in sustainable manufacturing, according to the announcement. InvestingPro analysis reveals the company is not currently profitable, with analysts anticipating sales decline in the current year. Investors seeking detailed financial analysis and additional insights can access 12 more exclusive ProTips and comprehensive metrics through InvestingPro’s advanced platform.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.