10-Q Filing

WEWARDS, INC. CIK: 1616156 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001553350-19-000068`
Period End Date	20181130
Filing Date	20190118
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	wewa-20181130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 44 Cash Flow Statement 40

Balance Sheet 52 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`	$7.24M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$12.59M	USD	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.78M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$316.67K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$116.66K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.11M	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
Common stock, shares issued	`CommonStockSharesIssued`	8.13M	shares	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$374.12K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	88.73M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$806.33K	USD	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
Total Assets	`Assets`	$5.70M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.73M	shares	Point-in-time
Total Assets	`Assets`	$11.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$160.54K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.20K	USD	Point-in-time
Accrued interest, related party	`InterestPayableCurrent`	$785.29K	USD	Point-in-time
Accrued interest, related party	`InterestPayableCurrent`	$645.55K	USD	Point-in-time
Due to a related party	`DueToRelatedPartiesCurrent`	$190.27K	USD	Point-in-time
Due to a related party	`DueToRelatedPartiesCurrent`	$225.27K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$872.01K	USD	Point-in-time
Convertible Notes Payable, related party	`ConvertibleLongTermNotesPayable`	$10.50M	USD	Point-in-time
Convertible Notes Payable, related party	`ConvertibleLongTermNotesPayable`	$17.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.37M	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.14M	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, 107,483,450 and 88,733,450 shares issued and outstanding; respectively	`CommonStockValue`	$88.73K	USD	Point-in-time
Common stock, par value $0.001; 500,000,000 shares authorized, 107,483,450 and 88,733,450 shares issued and outstanding; respectively	`CommonStockValue`	$107.48K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.08M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.91M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-5.67M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$5.70M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$11.49M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$189.81K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$382.87K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$677.40K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$321.44K	USD	1 Quarter
Research and Development expense	`ResearchAndDevelopmentExpense`	$15.22K	USD	2 Qtrs
Research and Development expense	`ResearchAndDevelopmentExpense`	$1.01M	USD	1 Quarter
Research and Development expense	`ResearchAndDevelopmentExpense`	$2.04M	USD	2 Qtrs
Research and Development expense	`ResearchAndDevelopmentExpense`	$15.22K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.20M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$336.66K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.42M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$692.62K	USD	2 Qtrs
Interest expense, related parties, net of interest income	`InterestIncomeExpenseNet`	$-160.46K	USD	1 Quarter
Interest expense, related parties, net of interest income	`InterestIncomeExpenseNet`	$-311.69K	USD	2 Qtrs
Interest expense, related parties, net of interest income	`InterestIncomeExpenseNet`	$-260.01K	USD	2 Qtrs
Interest expense, related parties, net of interest income	`InterestIncomeExpenseNet`	$-115.26K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-311.69K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-115.26K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-160.46K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-260.01K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.73M	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.36M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-451.92K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-952.63K	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-952.63K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-451.92K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.73M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-1.36M	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.13M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.13M	shares	2 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	104.82M	shares	2 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.48M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-952.63K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-451.92K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.73M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.36M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$230.50K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-200.01K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedLiabilities`	$291.15K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-159.34K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$311.78K	USD	2 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-620.81K	USD	2 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.65M	USD	2 Qtrs
Intangible assets	`PaymentsToAcquireIntangibleAssets`	$432.20K	USD	2 Qtrs
Intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-432.20K	USD	2 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from a related party	`ProceedsFromRelatedPartyDebt`	$35.00K	USD	2 Qtrs
Proceeds from a related party	`ProceedsFromRelatedPartyDebt`	$8.00M	USD	2 Qtrs
Repayment of related party loan	`RepaymentsOfRelatedPartyDebt`	$5.00M	USD	2 Qtrs
Repayment of related party loan	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.96M	USD	2 Qtrs
Cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.00M	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.35M	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.02M	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.24M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.59M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.78M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.24M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.59M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.78M	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
Related party debt converted to common stock	`RelatedPartyDebtsConvertedToCommonStock`	$1.50M	USD	2 Qtrs
Related party debt converted to common stock	`RelatedPartyDebtsConvertedToCommonStock`	-	USD	2 Qtrs
Forgiveness of accrued interest, related party, classified to additional paid in capital	`ForgivenessOfAccruedInterestRelatedPartyClassifiedToAdditionalPaidInCapital`	-	USD	2 Qtrs
Forgiveness of accrued interest, related party, classified to additional paid in capital	`ForgivenessOfAccruedInterestRelatedPartyClassifiedToAdditionalPaidInCapital`	$430.90K	USD	2 Qtrs

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