Document:

EXHIBIT
4.1

 

ONE
WORLD PHARMA, INC. 

DESCRIPTION
OF SECURITIES REGISTERED UNDER SECTION 12 OF THE EXCHANGE ACT

 

The
following is a brief description of the shares of capital stock of One World Pharma, Inc. (the “Company,” “we,”
“us,” or “our”). The brief description is based upon our Articles of Incorporation, including the Certificate
of Amendment to our Articles of Incorporation, (as amended, our “Articles of Incorporation”), our Bylaws (our “Bylaws”),
and provisions of applicable Nevada law. This summary does not purport to be complete and is subject to, and qualified in its
entirety by, the full text of our Articles of Incorporation and Bylaws, each of which is incorporated by reference as an exhibit
to our Annual Report on Form 10-K.

 

General

 

Our
Articles of Incorporation authorizes us to issue up to 310,000,000 shares of capital stock, consisting of 300,000,000 shares of
common stock, par value $0.001 common stock (“common stock”), and 10,000,000 shares of preferred stock, par value
$0.001 per share, of which 500,000 shares have been designated Series A Preferred Stock and 300,000 shares have been designated
Series B Preferred Stock, with the remaining 9,200,000 shares of preferred stock available for designation from time to time by
the Board as set forth below. As of December 31, 2020, we had outstanding 53,085,305 shares of common stock, 150,233 shares of
Series A Preferred Stock and no shares of Series B Preferred Stock. As of April 12, 2021, we had outstanding 113,167 shares of
Series B Preferred Stock. Our Articles of Incorporation authorizes our Board of Directors (our “Board”) to determine
any number of series into which the undesignated shares of preferred stock may be divided and to determine, at any time and from
time to time, the rights, preferences, privileges and restrictions granted to any series of such preferred stock, as described
below.

 

Common
Stock

 

Dividend
Rights

 

Subject
to preferences that may apply to shares of preferred stock outstanding at the time, the holders of outstanding shares of our Common
Stock are entitled to receive dividends out of funds legally available at the times and in the amounts that our board of directors
may determine.

 

Voting
Rights

 

Each
holder of our Common Stock is entitled to one vote for each share of our Common Stock held on all matters submitted to a vote
of stockholders. Cumulative voting for the election of directors is not provided for in our articles of incorporation, as amended,
which means that the holders of a majority of the voting shares voted can elect all of the directors then standing for election.

 

No
Preemptive or Similar Rights

 

Holders
of our Common Stock do not have preemptive rights, and our Common Stock is not convertible or redeemable.

 

Right
to Receive Liquidation Distributions

 

Upon
our dissolution, liquidation or winding-up, the assets legally available for distribution to our stockholders are distributable
ratably among the holders of our Common Stock, subject to the preferential rights and payment of liquidation preferences, if any,
on any outstanding shares of preferred stock.

 

Preferred
Stock

 

Series
A Preferred Stock

 

Each
share of Series A Preferred Stock is currently convertible into fifty shares of common stock. The conversion price is subject
to equitable adjustment in the event of stock splits and other adjustments in the Company’s capitalization, and is subject
to reduction to the price at which the Company sells common stock in the future, subject to customary exceptions. Additional terms
of the Series A Preferred Stock include the following:

 

●
The Series A Preferred Stock accrues dividends at the rate of 6% per annum, payable annually in cash or additional shares of Series
A Preferred Stock, at the Company’s election.

 

    	1

    	 

    

 

●
Upon the liquidation or dissolution of the Company, or any merger or sale of all or substantially all of the assets, the shares
of Series A Preferred Stock are entitled to receive, prior to any distribution to the holders of common stock, 100% of the purchase
price per share of Series A Preferred Stock plus all accrued but unpaid dividends.

 

●
Each share of Series A Preferred Stock carries a number of votes equal to the number of shares of common stock into which such
Series A Preferred Stock may then be converted. The Series A Preferred Stock generally will vote together with the common stock
and not as a separate class.

 

Series
B Preferred Stock

 

Each
share of Series B Preferred Stock is currently convertible into 100 shares of common stock. The conversion price is subject to
equitable adjustment in the event of stock splits and other adjustments in the Company’s capitalization. Additional terms
of the Series B Preferred Stock include the following:

 

●
The shares of Series B Preferred Stock are entitled to dividends when, as and if declared by the Board as to the shares of the
common stock of the Company into which such Series B Preferred Stock may then be converted.

 

●
Upon the liquidation or dissolution of the Company, or any merger or sale of all or substantially all of the assets, the shares
of Series B Preferred Stock are entitled to receive, prior to any distribution to the holders of common stock, but after distributions
to the holders of Series A Preferred Stock, 100% of the purchase price per share of Series B Preferred Stock plus all accrued
but unpaid dividends.

 

●
Each share of Series B Preferred Stock carries a number of votes equal to the number of shares of common stock into which such
Series B Preferred Stock may then be converted. The Series B Preferred Stock generally will vote together with the common stock
and not as a separate class.

 

Blank
Check Preferred Stock

 

The
remaining 9,200,000 shares of preferred stock may be issued in series, and shall have such voting powers, full or limited, or
no voting powers, and such designations, preferences and relative participating, optional or other special rights, and qualifications,
limitations or restrictions thereof, as shall be stated and expressed in the resolution or resolutions providing for the issuance
of such stock adopted from time to time by the Board. The Board is expressly vested with the authority to determine and fix in
the resolution or resolutions providing for the issuances of preferred stock the voting powers, designations, preferences and
rights, and the qualifications, limitations or restrictions thereof, of each such series to the full extent now or hereafter permitted
by the laws of the State of Nevada.

 

Anti-takeover
Provisions

 

Certain
provisions of our articles of incorporation, as amended, and Nevada law may have the effect of delaying, deferring or discouraging
another person from acquiring control of our company.

 

Nevada
Law

 

In
addition, Nevada has enacted the following legislation that may deter or frustrate takeovers of Nevada corporations:

 

Authorized
but Unissued Stock – The authorized but unissued shares of our Common Stock are available for future issuance without
stockholder approval. These additional shares may be used for a variety of corporate purposes, including future public offerings
to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares
of common stock may enable our board of directors to issue shares of stock to persons friendly to existing management.

 

Evaluation
of Acquisition Proposals – The Nevada Revised Statutes expressly permit our board of directors, when evaluating any
proposed tender or exchange offer, any merger, consolidation or sale of substantially all of our assets, or any similar extraordinary
transaction, to consider all relevant factors including, without limitation, the social, legal, and economic effects on our employees,
customers, suppliers, and other relevant interest holders, and on the communities and geographical areas in which they operate.
Our board of directors may also consider the amount of consideration being offered in relation to the then current market price
of our outstanding shares of capital stock and our then current value in a freely negotiated transaction.

 

Control
Share Acquisitions – Nevada has adopted a control share acquisitions statute designed to afford stockholders of public
corporations in Nevada protection against acquisitions in which a person, entity or group seeks to gain voting control. With enumerated
exceptions, the statute provides that shares acquired within certain specific ranges will not possess voting rights in the election
of directors unless the voting rights are approved by a majority vote of the public corporation’s disinterested stockholders.
Disinterested shares are shares other than those owned by the acquiring person or by a member of a group with respect to a control
share acquisition, or by any officer of the corporation or any employee of the corporation who is also a director. The specific
acquisition ranges that trigger the statute are: acquisitions of shares possessing one-fifth or more but less than one-third of
all voting power; acquisitions of shares possessing one-third or more but less than a majority of all voting power; or acquisitions
of shares possessing a majority or more of all voting power. Under certain circumstances, the statute permits the acquiring person
to call a special stockholders’ meeting for the purpose of considering the grant of voting rights to the holder of the control
shares. The statute also enables a corporation to provide for the redemption of control shares with no voting rights under certain
circumstances.

 

Transfer
Agent and Registrar

 

The
transfer agent and registrar for our Common Stock is vStock Transfer, LLC. Its mailing address is 18 Lafayette Place, Woodmere,
NY 11598, its telephone number is (212) 828-8436, and its facsimile number is (646) 536-3179.

 

    	2Exhibit
10.14

 

DEMAND
PROMISSORY NOTE

 

	$125,000	Las
    Vegas, Nevada
	 	December
    16, 2020

 

FOR
VALUE RECEIVED, OWP VENTURES, INC., a Delaware corporation (“Borrower”), hereby promises to pay to the order of Isiah
Thomas (the “Payee”), with an address at 24 Carol Court, Rye Brook, NY 10573, ON DEMAND, the principal sum of ONE
HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($125,000), together with all interest that has accrued thereon from the date hereof in accordance
with the terms of this Demand Promissory Note (this “Note”).

 

The
outstanding principal amount of this Note shall bear interest at a rate of six percent (6%) per annum, based on a year of 365
or 366 days, as applicable, for the number of days actually elapsed, until the date on which the last payment of principal and
interest under this Note shall have been paid.

 

This
Note may be prepaid, in whole or in part, at any time or from time to time, without premium or penalty. All payments made on this
Note shall be applied first to interest accrued to the date of the payment, then to other amounts which may then be due hereunder
(other than principal), and then to the outstanding principal amount of this Note.

 

All
payments or prepayments of principal and interest and other sums due pursuant to this Note shall be made by check to Payee at
its address set forth above, or in immediately available funds by wire transfer to Payee’s account at such bank as Payee
shall have previously designated to Borrower.

 

Whenever
any payment to be made hereunder shall be due on a Saturday, Sunday or public holiday under the laws of the State of Nevada, such
payment may be made on the next succeeding business day and such extension of time shall be included in the computation of payment
of interest hereunder.

 

    	 

    	 

    

 

Borrower
hereby waives presentment, demand for payment, notice of dishonor, protest and notice of protest of this Note. No waiver of any
provision of this Note, or any agreement or instrument evidencing or providing security for this Note, made by agreement of Payee
and any other person or party, shall constitute a waiver of any other terms hereof, or otherwise release or discharge the liability
of Borrower under this Note. No failure to exercise and no delay in exercising, on the part of Payee, any right, power or privilege
under this Note shall operate as a waiver thereof nor shall simple or partial exercise of any right, power or privilege preclude
any other or further exercise thereof, or the exercise of any other power, right or privilege. The rights and remedies herein
provided are cumulative and are not exclusive of any rights or remedies provided by law.

 

Any
provision of this Note that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

This
Note is governed by and to be construed in accordance with the laws of the State of Nevada without regard to its doctrine of conflict
of laws. Borrower, by its execution hereof (i) agrees that any legal suit, action or proceeding arising from or related to this
Note may be instituted in a state or federal court located in the State of Nevada; (ii) waives any objection which it may now
or hereafter have to the laying of venue of any such suit, action or proceeding; and (iii) irrevocably submits to the jurisdiction
of any such court in any such suit, action or proceeding.

 

	 	OWP
    VENTURES, INC.
	 	 
	 	By:	 
	 	Name:	Bruce
    Raben
	 	Title:	Interim
    Chief Financial Officer

 

    	 	2

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