10-Q Filing

WEWARDS, INC. CIK: 1616156 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001079973-23-000083`
Period End Date	20221130
Filing Date	20230113
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	wewa_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 63 Cash Flow Statement 30 Stockholders Equity 18

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.14M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.01M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$300.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$750.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.01M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.14M	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$44.41K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$130.61K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.13M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Total assets	`Assets`	$1.06M	USD	Point-in-time
Total assets	`Assets`	$1.27M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.78K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.10K	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.47M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.73M	USD	Point-in-time
Current maturities of operating lease obligation, related party	`OperatingLeaseLiabilityCurrent`	$130.61K	USD	Point-in-time
Current maturities of operating lease obligation, related party	`OperatingLeaseLiabilityCurrent`	$44.41K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.79M	USD	Point-in-time
Convertible notes payable, related party	`ConvertibleLongTermNotesPayable`	$10.50M	USD	Point-in-time
Convertible notes payable, related party	`ConvertibleLongTermNotesPayable`	$10.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.29M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 107,483,450 issued and outstanding	`CommonStockValue`	$107.48K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 107,483,450 issued and outstanding	`CommonStockValue`	$107.48K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.16M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.50M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-10.86M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-10.17M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.23M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.27M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.06M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenue, related party	`RevenueFromRelatedParties`	-	USD	1 Quarter
Revenue, related party	`RevenueFromRelatedParties`	$83.45K	USD	Annual
Revenue, related party	`RevenueFromRelatedParties`	-	USD	2 Qtrs
Revenue, related party	`RevenueFromRelatedParties`	-	USD	1 Quarter
Revenue, related party	`RevenueFromRelatedParties`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$662.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.46K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.38K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$736.00	USD	1 Quarter
Software development, related party	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Software development, related party	`ResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Software development, related party	`ResearchAndDevelopmentExpense`	$1.62M	USD	Annual
Software development, related party	`ResearchAndDevelopmentExpense`	$1.01M	USD	2 Qtrs
Software development, related party	`ResearchAndDevelopmentExpense`	$842.50K	USD	Annual
Software development, related party	`ResearchAndDevelopmentExpense`	$505.50K	USD	1 Quarter
Rent expense	`LeaseAndRentalExpense`	$90.00K	USD	2 Qtrs
Rent expense	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Rent expense	`LeaseAndRentalExpense`	$90.00K	USD	2 Qtrs
Rent expense	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$10.34K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$36.37K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$9.76K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$39.01K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$56.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$561.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.14M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$130.39K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-56.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-130.39K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.14M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-561.00K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$130.89K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$263.22K	USD	2 Qtrs
Interest expense, related party	`InterestExpenseRelatedParty`	$263.22K	USD	2 Qtrs
Interest expense, related party	`InterestExpenseRelatedParty`	$130.89K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$1.49K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$2.15K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$3.10K	USD	2 Qtrs
Interest income	`InterestIncomeExpenseNet`	$5.10K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-128.74K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-260.12K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-258.12K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-129.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-390.50K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-185.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-689.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.40M	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-390.50K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-185.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-689.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.40M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.23K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$450.00	USD	2 Qtrs
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$79.59K	USD	2 Qtrs
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$86.20K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$330.00	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$675.00	USD	2 Qtrs
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$263.22K	USD	2 Qtrs
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$263.22K	USD	2 Qtrs
Operating lease obligation, related party	`IncreaseDecreaseInOperatingLeaseLiability`	$-86.20K	USD	2 Qtrs
Operating lease obligation, related party	`IncreaseDecreaseInOperatingLeaseLiability`	$-79.59K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.14M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-127.06K	USD	2 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-127.06K	USD	2 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.14M	USD	2 Qtrs
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.01M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.86M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.01M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.86M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-10.86M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-10.17M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.23M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Beginning balance, shares	`SharesOutstanding`	-	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-390.50K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-185.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-689.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.40M	USD	2 Qtrs
Ending balance, value	`StockholdersEquity`	$-10.86M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-10.17M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.23M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Ending balance, shares	`SharesOutstanding`	-	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.