10-Q Filing

WEWARDS, INC. CIK: 1616156 Q2 2024

Filing Information

Form Type	10-Q
Accession Number	`0001079973-24-000068`
Period End Date	20231130
Filing Date	20240116
Fiscal Year	2024
Fiscal Period	Q2
XBRL Instance	wewa_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 56 Cash Flow Statement 30 Stockholders Equity 16

Balance Sheet 56 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`	$780.17K	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`	$889.40K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$587.00	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$2.48K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$889.99K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$782.65K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$889.99K	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
Total assets	`Assets`	$782.65K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.48M	shares	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 outstanding	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$100.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$100.00	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.99M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$3.26M	USD	Point-in-time
Current maturities of convertible notes payable, related party	`ConvertibleNotesPayableCurrent`	$2.50M	USD	Point-in-time
Current maturities of convertible notes payable, related party	`ConvertibleNotesPayableCurrent`	$10.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.49M	USD	Point-in-time
Convertible notes payable, related party, net of current maturities	`ConvertibleLongTermNotesPayable`	$8.00M	USD	Point-in-time
Convertible notes payable, related party, net of current maturities	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$13.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.76M	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`	$-17.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.24M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.81M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.23M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.60M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.98M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$889.99K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$782.65K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue, related party	`Revenues`	-	USD	2 Qtrs
Revenue, related party	`Revenues`	-	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Revenue, related party	`Revenues`	-	USD	1 Quarter
Revenue, related party	`Revenues`	-	USD	2 Qtrs
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	2 Qtrs
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.78K	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.55K	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.38K	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$662.00	USD	1 Quarter
Rent expense	`RentExpense`	$75.00K	USD	2 Qtrs
Net loss per share - fully diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Net loss per share - fully diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Rent expense	`RentExpense`	$45.00K	USD	1 Quarter
Net loss per share - fully diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Net loss per share - fully diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Rent expense	`RentExpense`	$90.00K	USD	2 Qtrs
Rent expense	`RentExpense`	$30.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$39.64K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$10.34K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$39.01K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$10.85K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$118.18K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$130.39K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$56.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$43.63K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-118.18K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-130.39K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-43.63K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-56.00K	USD	1 Quarter
Interest expense, related party	`InterestExpense`	$263.22K	USD	2 Qtrs
Interest expense, related party	`InterestExpense`	$130.89K	USD	1 Quarter
Interest expense, related party	`InterestExpense`	$130.89K	USD	1 Quarter
Interest expense, related party	`InterestExpense`	$263.22K	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$4.79K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$1.49K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$10.84K	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$3.10K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-129.40K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-252.38K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-260.12K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-126.10K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-390.50K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-185.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-370.56K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-169.73K	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`	$-370.56K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-169.73K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$450.00	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.89K	USD	2 Qtrs
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$86.20K	USD	2 Qtrs
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	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	`OperatingLeaseObligationRelatedParty`	-	USD	2 Qtrs
Operating lease obligation, related party	`OperatingLeaseObligationRelatedParty`	$-86.20K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-127.06K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-109.23K	USD	2 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-109.23K	USD	2 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-127.06K	USD	2 Qtrs
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.01M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$889.40K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$780.17K	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.01M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$889.40K	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$780.17K	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 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.81M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.23M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.60M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.98M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-390.50K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-185.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-370.56K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-169.73K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.81M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.23M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.60M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.98M	USD	Point-in-time

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