10-Q Filing

WEWARDS, INC. CIK: 1616156 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001553350-20-000302`
Period End Date	20200229
Filing Date	20200407
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	wewa-20191130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 41 Stockholders Equity 24

Balance Sheet 66 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`	$4.63M	USD	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.25M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$25.00K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.53M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$540.43K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$478.68K	USD	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
Common stock, shares issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Total assets	`Assets`	$5.07M	USD	Point-in-time
Total assets	`Assets`	$4.73M	USD	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`	8.13M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$329.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$200.00	USD	Point-in-time
Accounts payable, related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts payable, related party	`AccountsPayableRelatedPartiesCurrent`	$30.01K	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$1.31M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$912.12K	USD	Point-in-time
Current maturities of operating lease obligation	`OperatingLeaseLiabilityCurrent`	$147.02K	USD	Point-in-time
Current maturities of operating lease obligation	`OperatingLeaseLiabilityCurrent`	$128.71K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$225.27K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$225.27K	USD	Point-in-time
Current maturities of convertible notes payable, related party	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Current maturities of convertible notes payable, related party	`ConvertibleNotesPayableCurrent`	$10.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.22M	USD	Point-in-time
Operating lease obligation	`OperatingLeaseLiabilityNoncurrent`	$411.73K	USD	Point-in-time
Operating lease obligation	`OperatingLeaseLiabilityNoncurrent`	$331.66K	USD	Point-in-time
Convertible notes payable, related party	`ConvertibleLongTermNotesPayable`	$10.50M	USD	Point-in-time
Convertible notes payable, related party	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$12.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.18M	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`	$5.08M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.01M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.82M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.10M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.64M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-6.02M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-5.67M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$5.07M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$4.73M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	3 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	3 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$485.67K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$88.45K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.14K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.09K	USD	3 Qtrs
Rent expense, related party	`LeaseAndRentalExpense`	$138.48K	USD	3 Qtrs
Rent expense, related party	`LeaseAndRentalExpense`	$135.00K	USD	3 Qtrs
Rent expense, related party	`LeaseAndRentalExpense`	$48.48K	USD	1 Quarter
Rent expense, related party	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$306.50K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$232.32K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$101.10K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$15.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$63.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$238.03K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$930.65K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$373.41K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-63.39K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-373.41K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-238.03K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-930.65K	USD	3 Qtrs
Interest expense, related party	`InterestExpenseRelatedParty`	$131.85K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$423.01K	USD	3 Qtrs
Interest expense, related party	`InterestExpenseRelatedParty`	$133.70K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$401.71K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$22.85K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$17.39K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$54.00K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$59.23K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-369.02K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-116.31K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-109.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-342.48K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-347.03K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-179.70K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.30M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-715.89K	USD	3 Qtrs
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.48M	shares	3 Qtrs
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	105.64M	shares	3 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-347.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-179.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-715.89K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-262.26K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-25.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-130.00	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$423.00K	USD	3 Qtrs
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.01K	USD	3 Qtrs
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$401.71K	USD	3 Qtrs
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$-148.06K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-259.30K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-762.46K	USD	3 Qtrs
Intangible assets	`PaymentsToAcquireIntangibleAssets`	$432.20K	USD	3 Qtrs
Intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-432.20K	USD	3 Qtrs
Proceeds received from a related party	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds received from a related party	`ProceedsFromRelatedPartyDebt`	$35.00K	USD	3 Qtrs
Repayment of related party loans	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of related party loans	`RepaymentsOfRelatedPartyDebt`	$5.00M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.96M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-259.30K	USD	3 Qtrs
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.16M	USD	3 Qtrs
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.63M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.25M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.63M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.25M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.79M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Related party debt converted to common stock	`RelatedPartyDebtsConvertedToCommonStock`	$1.50M	USD	3 Qtrs
Related party debt converted to common stock	`RelatedPartyDebtsConvertedToCommonStock`	-	USD	3 Qtrs
Forgiveness of accrued interest, related party contributed to capital	`ForgivenessOfAccruedInterestRelatedPartyClassifiedToAdditionalPaidInCapital`	$430.90K	USD	3 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-7.82M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-7.10M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-7.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-6.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-5.67M	USD	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Stock issued for conversion of debt	`StockIssuedDuringPeriodValueNewIssues`	$1.50M	USD	3 Qtrs
Forgiveness of accrued interest, related party	`ForgivenessOfAccruedInterestRelatedPartyClassifiedToAdditionalPaidInCapital`	$430.90K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-347.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-179.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-715.89K	USD	3 Qtrs
Ending balance	`StockholdersEquity`	$-7.82M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-7.10M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-7.64M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-6.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-6.65M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-5.67M	USD	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	8.13M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	107.48M	shares	Point-in-time

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