10-Q Filing

WEWARDS, INC. CIK: 1616156 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001553350-22-000312`
Period End Date	20220228
Filing Date	20220412
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	wewa_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 34 Stockholders Equity 16

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred stock value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock value per share	`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 shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.00M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.56M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$1.39K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$249.00	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.00M	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$293.04K	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
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$172.44K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Total assets	`Assets`	$3.29M	USD	Point-in-time
Total assets	`Assets`	$1.37M	USD	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`	8.13M	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
Accounts payable	`AccountsPayableCurrent`	$15.67K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.98K	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.34M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$1.94M	USD	Point-in-time
Current maturities of operating lease obligation	`OperatingLeaseLiabilityCurrent`	$172.44K	USD	Point-in-time
Current maturities of operating lease obligation	`OperatingLeaseLiabilityCurrent`	$162.43K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.53M	USD	Point-in-time
Operating lease obligation	`OperatingLeaseLiabilityNoncurrent`	$130.61K	USD	Point-in-time
Operating lease obligation	`OperatingLeaseLiabilityNoncurrent`	-	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`	$12.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.03M	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`	$-14.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.92M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-8.79M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-8.30M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-11.66M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-10.86M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.37M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$3.29M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenue, related party	`RevenueFromRelatedParties`	-	USD	3 Qtrs
Revenue, related party	`RevenueFromRelatedParties`	$27.50K	USD	1 Quarter
Revenue, related party	`RevenueFromRelatedParties`	-	USD	1 Quarter
Revenue, related party	`RevenueFromRelatedParties`	$62.50K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$727.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.19K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$553.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.05K	USD	3 Qtrs
Software development, related party	`ResearchAndDevelopmentExpense`	$337.00K	USD	3 Qtrs
Software development, related party	`ResearchAndDevelopmentExpense`	$1.62M	USD	3 Qtrs
Software development, related party	`ResearchAndDevelopmentExpense`	$611.50K	USD	1 Quarter
Software development, related party	`ResearchAndDevelopmentExpense`	$337.00K	USD	1 Quarter
Rent expense	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Rent expense	`LeaseAndRentalExpense`	$135.00K	USD	3 Qtrs
Rent expense	`LeaseAndRentalExpense`	$135.00K	USD	3 Qtrs
Rent expense	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$12.69K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$49.06K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$74.34K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$9.96K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.81M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$551.39K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$669.92K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$392.51K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.81M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-669.92K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-488.89K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-365.01K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$392.67K	USD	3 Qtrs
Interest expense, related party	`InterestExpenseRelatedParty`	$129.45K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$129.45K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$392.67K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$19.26K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$5.07K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$5.95K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$849.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-128.60K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-373.41K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-386.72K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-124.38K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-798.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-862.30K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-489.39K	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	3 Qtrs
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	3 Qtrs
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	3 Qtrs
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	3 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
Net loss per share - basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.01	USD	3 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.02	USD	3 Qtrs
Net loss per share - fully diluted	`EarningsPerShareDiluted`	$-0.01	USD	3 Qtrs
Net loss per share - fully diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net loss per share - fully diluted	`EarningsPerShareDiluted`	$-0.02	USD	3 Qtrs
Net loss per share - fully diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-798.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-862.30K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-489.39K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.30K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.14K	USD	3 Qtrs
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$120.60K	USD	3 Qtrs
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$111.36K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.30K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$14.78K	USD	3 Qtrs
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-2.39K	USD	3 Qtrs
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$392.67K	USD	3 Qtrs
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$392.67K	USD	3 Qtrs
Deferred revenue, related party	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Deferred revenue, related party	`IncreaseDecreaseInDeferredRevenue`	$2.50K	USD	3 Qtrs
Operating lease obligation	`OperatingLeaseObligation`	$-111.36K	USD	3 Qtrs
Operating lease obligation	`OperatingLeaseObligation`	$-120.60K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-456.04K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.80M	USD	3 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.80M	USD	3 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-456.04K	USD	3 Qtrs
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.02M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.00M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.56M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.02M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.00M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.56M	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

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-8.79M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-8.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-11.66M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-10.86M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-798.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-862.30K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-489.39K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-8.79M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-8.30M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-11.66M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-10.86M	USD	Point-in-time

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