10-K Filing

WEWARDS, INC. CIK: 1616156 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001553350-22-000730`
Period End Date	20220531
Filing Date	20220831
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	wewa_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 30 Cash Flow Statement 30 Stockholders Equity 8

Balance Sheet 57 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
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.14M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.00M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$249.00	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$300.00	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
Total current assets	`AssetsCurrent`	$1.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.00M	USD	Point-in-time
Common stock value per share	`CommonStockParOrStatedValuePerShare`	$0.00	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
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$130.61K	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`	8.13M	shares	Point-in-time
Total assets	`Assets`	$1.27M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Total assets	`Assets`	$3.29M	USD	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`	$15.10K	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.47M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$1.94M	USD	Point-in-time
Current maturities of operating lease obligation, related party	`OperatingLeaseLiabilityCurrent`	$130.61K	USD	Point-in-time
Current maturities of operating lease obligation, related party	`OperatingLeaseLiabilityCurrent`	$162.43K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
Operating lease obligation, related party	`OperatingLeaseLiabilityNoncurrent`	$130.61K	USD	Point-in-time
Operating lease obligation, related party	`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`	$13.12M	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`	$-17.11M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.27M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$3.29M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue, related party	`RevenueFromRelatedParties`	-	USD	Annual
Revenue, related party	`RevenueFromRelatedParties`	$83.45K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.87K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.14K	USD	Annual
Software development, related party	`ResearchAndDevelopmentExpense`	$842.50K	USD	Annual
Software development, related party	`ResearchAndDevelopmentExpense`	$1.62M	USD	Annual
Rent expense	`LeaseAndRentalExpense`	$180.00K	USD	Annual
Rent expense	`LeaseAndRentalExpense`	$180.00K	USD	Annual
Professional fees	`ProfessionalFees`	$92.21K	USD	Annual
Professional fees	`ProfessionalFees`	$59.94K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.12M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.87M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-1.03M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-1.87M	USD	Annual
Interest expense, related party	`InterestExpenseRelatedParty`	$525.00K	USD	Annual
Interest expense, related party	`InterestExpenseRelatedParty`	$525.00K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$22.83K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$6.51K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-518.49K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-502.17K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	Annual
Basic	`EarningsPerShareBasic`	$-0.02	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-51.00	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-249.00	USD	Annual
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$162.43K	USD	Annual
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$149.98K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-570.00	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.35K	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-15.01K	USD	Annual
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$525.00K	USD	Annual
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$525.00K	USD	Annual
Deferred revenue, related party	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Deferred revenue, related party	`IncreaseDecreaseInDeferredRevenue`	$-5.83K	USD	Annual
Operating lease obligation, related party	`OperatingLeaseObligationRelatedParty`	$-162.43K	USD	Annual
Operating lease obligation, related party	`OperatingLeaseObligationRelatedParty`	$-149.98K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.02M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.86M	USD	Annual
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.86M	USD	Annual
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.02M	USD	Annual
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.02M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.02M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	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 8 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Ending balance, value	`StockholdersEquity`	$-7.92M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time

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