Item 8.01 Other Events.

On December 10, 2020, One World Cannabis Ltd. ("OWC-Israel"), an Israeli subsidiary of OWC Pharmaceutical Research Corp., filed a petition under the Insolvency and Rehabilitation Law, 2018 in the Israeli Haifa District Court. As stated in the petition, OWC-Israel is insolvent at the present time and met the conditions required under Israeli law for submitting a petition to the court. OWC-Israel stated that it believes that there were no alternatives to filing the petition and having the court find a suitable solution for the benefit of its creditors.

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