2024 Q3 Form 10-K Financial Statement
#000107997324001330 Filed on August 28, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 | 2024 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $13.23K | $145.9K | |
YoY Change | -76.83% | -40.55% | |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $32.69K | $13.23K | $145.8K |
YoY Change | -56.15% | -76.83% | -40.55% |
Operating Profit | -$32.69K | -$145.8K | |
YoY Change | -56.15% | -40.55% | |
Interest Expense | $132.3K | -$127.4K | $526.4K |
YoY Change | 0.0% | 0.19% | 0.27% |
% of Operating Profit | |||
Other Income/Expense, Net | -$127.4K | -$505.9K | |
YoY Change | 0.89% | -1.84% | |
Pretax Income | -$140.7K | -$651.7K | |
YoY Change | -23.68% | -14.32% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$160.1K | -$140.7K | -$651.7K |
YoY Change | -20.28% | -23.68% | -14.32% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | -$0.01 | |
Diluted Earnings Per Share | $0.00 | $0.00 | -$0.01 |
COMMON SHARES | |||
Basic Shares Outstanding | 107.5M shares | 107.5M shares | 107.5M shares |
Diluted Shares Outstanding | 107.5M shares | 107.5M shares |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 | 2024 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $764.2K | $764.2K | |
YoY Change | -14.08% | -14.08% | |
Cash & Equivalents | $741.6K | $764.2K | |
Short-Term Investments | |||
Other Short-Term Assets | $490.00 | $490.00 | |
YoY Change | -16.95% | -16.95% | |
Inventory | |||
Prepaid Expenses | $187.00 | $487.00 | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $741.7K | $764.7K | $764.7K |
YoY Change | -10.13% | -14.08% | -14.08% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $741.7K | $764.7K | $764.7K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $741.7K | $764.7K | $764.7K |
YoY Change | -10.13% | -14.08% | -14.08% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.050K | $100.00 | $100.00 |
YoY Change | 1.25% | 0.0% | 0.0% |
Accrued Expenses | $875.00 | $3.521M | $3.521M |
YoY Change | -99.97% | 17.58% | 17.58% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.658M | $3.521M | $3.521M |
YoY Change | -35.03% | -35.92% | -35.92% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $10.50M | $10.50M | |
YoY Change | 31.25% | 31.25% | |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $10.50M | $10.50M | |
YoY Change | 31.25% | 31.25% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.658M | $3.521M | $3.521M |
Total Long-Term Liabilities | $10.50M | $10.50M | |
Total Liabilities | $14.16M | $14.02M | $14.02M |
YoY Change | 3.87% | 3.9% | 3.9% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$18.69M | -$18.53M | |
YoY Change | 3.38% | 3.65% | |
Common Stock | $107.5K | $107.5K | |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$13.42M | -$13.26M | -$13.26M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $741.7K | $764.7K | $764.7K |
YoY Change | -10.13% | -14.08% | -14.08% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 | 2024 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$160.1K | -$140.7K | -$651.7K |
YoY Change | -20.28% | -23.68% | -14.32% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$22.65K | -$7.170K | -$125.2K |
YoY Change | -71.37% | -89.34% | -50.11% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | |||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -$22.65K | -7.170K | -$125.2K |
Cash From Investing Activities | |||
Cash From Financing Activities | |||
Net Change In Cash | -$22.65K | -7.170K | -$125.2K |
YoY Change | -71.37% | -89.34% | -50.11% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$22.65K | -$7.170K | -$125.2K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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2024-05-31 | |
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WEWARDS, INC. | |
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NV | |
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3305 Spring Mountain Road | |
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Suite 104 | |
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Las Vegas | |
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NV | |
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<p id="xdx_84E_eus-gaap--UseOfEstimates_z2Tk2tKDOKqe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_zhKu9eiUFdf2">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | |
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Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zOMcN1g1lzT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_867_zo42vO85dDud">Concentrations of Credit Risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company maintains cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $<span id="xdx_90C_eus-gaap--CashFDICInsuredAmount_iI_c20240531_ztQzfA5qBPcc" title="FDIC insured amount">250,000</span> under current regulations. The Company had approximately $<span id="xdx_904_eus-gaap--CashUninsuredAmount_pp0p0_c20240531_zXBeuv9dNDTc" title="Excess of FDIC insured limits">514,205</span> and $<span id="xdx_90E_eus-gaap--CashUninsuredAmount_pp0p0_c20230531_zZwfrtwTvV9i" title="Excess of FDIC insured limits">640,755</span> in excess of FDIC insured limits at May 31, 2024 and 2023, respectively. The Company has not experienced any losses in such accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | |
CY2024Q2 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q2 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
514205 | usd |
CY2023Q2 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
640755 | usd |
CY2024Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-18525329 | usd |
CY2024Q2 | WEWA |
Working Capital
WorkingCapital
|
-2756314 | usd |
CY2024Q2 | us-gaap |
Convertible Debt
ConvertibleDebt
|
10500000 | usd |
CY2023Q2 | us-gaap |
Convertible Debt
ConvertibleDebt
|
10500000 | usd |
CY2024Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
0 | usd |
CY2023Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
2500000 | usd |
CY2024Q2 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
10500000 | usd |
CY2023Q2 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
8000000 | usd |
CY2024 | us-gaap |
Interest Expense
InterestExpense
|
526439 | usd |
CY2023 | us-gaap |
Interest Expense
InterestExpense
|
525000 | usd |
CY2024Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2023Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2024Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2023Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2024Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2024Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
107483450 | shares |
CY2024Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
107483450 | shares |
CY2024Q2 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
9021000 | usd |
CY2024 | WEWA |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Taxes Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxesRate
|
0.21 | pure |
CY2023 | WEWA |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Taxes Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxesRate
|
0.21 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.21 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2024Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1894000 | usd |
CY2023Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1869000 | usd |
CY2024Q2 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1894000 | usd |
CY2023Q2 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1869000 | usd |
CY2024Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1894000 | usd |
CY2023Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1869000 | usd |
CY2024Q2 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2023Q2 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |