10-Q Filing

WEWARDS, INC. CIK: 1616156 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001553350-22-000825`
Period End Date	20220831
Filing Date	20221017
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	wewa_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 33 Cash Flow Statement 28 Stockholders Equity 10

Balance Sheet 56 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.14M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$924.00	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$300.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.14M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.06M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$87.94K	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
Total assets	`Assets`	$1.15M	USD	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 issued	`CommonStockSharesIssued`	107.48M	shares	Point-in-time
Total assets	`Assets`	$1.27M	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`	$15.10K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.21K	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.47M	USD	Point-in-time
Accrued interest, related parties	`InterestPayableCurrent`	$2.60M	USD	Point-in-time
Current maturities of operating lease obligation	`OperatingLeaseLiabilityCurrent`	$130.61K	USD	Point-in-time
Current maturities of operating lease obligation	`OperatingLeaseLiabilityCurrent`	$87.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.62M	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`	$13.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.19M	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`	$-17.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.32M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-10.17M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.15M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.27M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenue, related party	`RevenueFromRelatedParties`	-	USD	1 Quarter
Revenue, related party	`RevenueFromRelatedParties`	$83.45K	USD	Annual
Revenue, related party	`RevenueFromRelatedParties`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$718.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$728.00	USD	1 Quarter
Software development, related party	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Software development, related party	`ResearchAndDevelopmentExpense`	$505.50K	USD	1 Quarter
Software development, related party	`ResearchAndDevelopmentExpense`	$842.50K	USD	Annual
Software development, related party	`ResearchAndDevelopmentExpense`	$1.62M	USD	Annual
Rent expense	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Rent expense	`LeaseAndRentalExpense`	$45.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$28.67K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$26.61K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$577.83K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$74.39K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-577.83K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-74.39K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$132.33K	USD	1 Quarter
Interest expense, related party	`InterestExpenseRelatedParty`	$132.33K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$1.61K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$2.95K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-129.38K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-130.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-707.22K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-205.10K	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.48M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.48M	shares	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-707.22K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-205.10K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$624.00	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$674.00	USD	1 Quarter
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$42.67K	USD	1 Quarter
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$39.40K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.83K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.89K	USD	1 Quarter
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$132.33K	USD	1 Quarter
Accrued interest, related party	`IncreaseDecreaseInInterestPayableNet`	$132.33K	USD	1 Quarter
Operating lease obligation	`IncreaseDecreaseInOperatingLeaseLiability`	$-39.40K	USD	1 Quarter
Operating lease obligation	`IncreaseDecreaseInOperatingLeaseLiability`	$-42.67K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-83.29K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-571.73K	USD	1 Quarter
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-83.29K	USD	1 Quarter
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-571.73K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.06M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.06M	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 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-10.17M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-707.22K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-205.10K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-9.46M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-11.84M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-12.05M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-10.17M	USD	Point-in-time

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