10-Q Filing

WEWARDS, INC. CIK: 1616156 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001553350-20-000923`
Period End Date	20200831
Filing Date	20201009
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	wewa-20200831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 24 Cash Flow Statement 30 Stockholders Equity 16

Balance Sheet 62 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`	$4.02M	USD	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.32M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.97M	USD	Point-in-time
Preferred stock, share issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.02M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$406.63K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$443.01K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total assets	`Assets`	$4.46M	USD	Point-in-time
Total assets	`Assets`	$4.38M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	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
Common stock, shares issued	`CommonStockSharesIssued`	8.13M	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`	$3.69K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$325.00	USD	Point-in-time
Accounts payable, related party	`AccountsPayableRelatedPartiesCurrent`	$15.01K	USD	Point-in-time
Accounts payable, related party	`AccountsPayableRelatedPartiesCurrent`	$15.01K	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$1.42M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$1.55M	USD	Point-in-time
Deferred revenues, related party	`DeferredRevenueCurrent`	$23.34K	USD	Point-in-time
Deferred revenues, related party	`DeferredRevenueCurrent`	$5.83K	USD	Point-in-time
Current maturities of operating lease obligation, related party	`OperatingLeaseLiabilityCurrent`	$153.00K	USD	Point-in-time
Current maturities of operating lease obligation, related party	`OperatingLeaseLiabilityCurrent`	$149.98K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.59M	USD	Point-in-time
Operating lease obligation, related party	`OperatingLeaseLiabilityNoncurrent`	$293.04K	USD	Point-in-time
Operating lease obligation, related party	`OperatingLeaseLiabilityNoncurrent`	$253.63K	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`	$12.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.50M	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`	$-13.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.39M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.10M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-8.12M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.45M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$4.46M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$4.38M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue, related party	`Revenues`	-	USD	1 Quarter
Revenue, related party	`Revenues`	$12.50K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.03K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.91K	USD	1 Quarter
Rent expense, related party	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Rent expense, related party	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$39.74K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$189.68K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$88.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$236.70K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-76.16K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-236.70K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$132.33K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$134.73K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$7.83K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$21.75K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-112.97K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-124.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-200.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-349.68K	USD	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	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-200.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-349.68K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-25.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Right-of-use asset	`RightOfUseAsset`	-	USD	1 Quarter
Right-of-use asset	`RightOfUseAsset`	$-36.38K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-229.00	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.37K	USD	1 Quarter
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$134.73K	USD	1 Quarter
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$132.33K	USD	1 Quarter
Deferred revenue, related party	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue, related party	`IncreaseDecreaseInDeferredRevenue`	$17.50K	USD	1 Quarter
Operating lease obligation, related party	`OperatingLeaseObligationRelatedParty`	$-36.38K	USD	1 Quarter
Operating lease obligation, related party	`OperatingLeaseObligationRelatedParty`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-190.18K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-47.46K	USD	1 Quarter
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-190.18K	USD	1 Quarter
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-47.46K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.02M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.32M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.97M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.02M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.32M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.97M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-7.10M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-8.12M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-7.45M	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
Net loss	`NetIncomeLoss`	$-200.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-349.68K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$-7.10M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-8.12M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-7.45M	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.