10-K Filing

WEWARDS, INC. CIK: 1616156 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001553350-18-001050`
Period End Date	20180531
Filing Date	20180920
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	wewa-20180531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 32 Cash Flow Statement 28 Stockholders Equity 17

Balance Sheet 53 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
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.24M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$46.76K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaids	`PrepaidExpenseCurrent`	$316.67K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaids	`PrepaidExpenseCurrent`	$42.50K	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$374.12K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.13M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	88.73M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.13M	shares	Point-in-time
Total Assets	`Assets`	$11.49M	USD	Point-in-time
Total Assets	`Assets`	$7.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.73M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$160.54K	USD	Point-in-time
Accrued interest, related party	`InterestPayableCurrent`	$785.29K	USD	Point-in-time
Accrued interest, related party	`InterestPayableCurrent`	$225.26K	USD	Point-in-time
Due to a related party	`DueToRelatedPartiesCurrent`	$190.27K	USD	Point-in-time
Due to a related party	`DueToRelatedPartiesCurrent`	$186.73K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$412.00K	USD	Point-in-time
Convertible Notes Payable, related party	`ConvertibleLongTermNotesPayable`	$12.00M	USD	Point-in-time
Convertible Notes Payable, related party	`ConvertibleLongTermNotesPayable`	$17.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.14M	USD	Point-in-time
Total Liabilities	`Liabilities`	$12.41M	USD	Point-in-time
Preferred stock, par value $0.001; 50,000,000 shares authorized, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 50,000,000 shares authorized, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 500,000,000 shares authorized, 88,733,450 and 8,130,000 shares issued and outstanding; respectively	`CommonStockValue`	$88.73K	USD	Point-in-time
Common stock, par value $0.001; 500,000,000 shares authorized, 88,733,450 and 8,130,000 shares issued and outstanding; respectively	`CommonStockValue`	$8.13K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.17M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$27.66K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.91M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-5.13M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-77.90K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.49M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.28M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$12.01K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$283.35K	USD	Annual
Consulting	`ConsultingFees`	-	USD	Annual
Consulting	`ConsultingFees`	$707.66K	USD	Annual
Professional fees	`ProfessionalFees`	$357.15K	USD	Annual
Professional fees	`ProfessionalFees`	$106.55K	USD	Annual
Development expense	`ResearchAndDevelopmentExpense`	$4.71M	USD	Annual
Development expense	`ResearchAndDevelopmentExpense`	$2.12M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.47M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.83M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.47M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.83M	USD	Annual
Interest expense	`InterestExpense`	$225.26K	USD	Annual
Interest expense	`InterestExpense`	$784.17K	USD	Annual
Other expense (Note 9)	`OtherNonoperatingExpense`	-	USD	Annual
Other expense (Note 9)	`OtherNonoperatingExpense`	$496.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.63K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-1.28M	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-225.26K	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.74M	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.05M	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Loss	`NetIncomeLoss`	$-4.74M	USD	Annual
Net Loss	`NetIncomeLoss`	$-5.05M	USD	Annual
Net loss per share - basic & diluted	`EarningsPerShareBasicAndDiluted`	$-0.17	USD	Annual
Net loss per share - basic & diluted	`EarningsPerShareBasicAndDiluted`	$-0.62	USD	Annual
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.34M	shares	Annual
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.13M	shares	Annual

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.74M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.05M	USD	Annual
Prepaids	`IncreaseDecreaseInPrepaidExpense`	$42.50K	USD	Annual
Prepaids	`IncreaseDecreaseInPrepaidExpense`	$274.17K	USD	Annual
Intangible assets	`IncreaseDecreaseInIntangibleAssetsCurrent`	-	USD	Annual
Intangible assets	`IncreaseDecreaseInIntangibleAssetsCurrent`	$374.12K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$944.71K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$225.26K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.87M	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.45M	USD	Annual
Proceeds from a related party	`ProceedsFromRelatedPartyDebt`	$8.04M	USD	Annual
Proceeds from a related party	`ProceedsFromRelatedPartyDebt`	$12.06M	USD	Annual
Repayment of related party loan	`RepaymentsOfRelatedPartyDebt`	$35.00K	USD	Annual
Repayment of related party loan	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.06M	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.00M	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.56M	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.19M	USD	Annual
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.24M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$46.76K	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.24M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$46.76K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-5.13M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-77.90K	USD	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	88.73M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Stock issued for conversion of debt	`StockIssuedDuringPeriodValueNewIssues`	$3.22M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.74M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.05M	USD	Annual
Ending balance	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-5.13M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-77.90K	USD	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	88.73M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time

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