Wewards, Inc. reported no revenue for the fiscal years ending May 31, 2026, and May 31, 2025, maintaining a consistent trend of non-revenue generation. The company’s operating expenses decreased to $76,655 in 2026 from $90,670 in 2025, primarily due to a significant reduction in general and administrative expenses, which fell by 88% to $2,733. The net loss for the year ended May 31, 2026, was $497,512, a decrease of 17% from the previous year's loss of $596,140. This reduction in loss was attributed to decreased interest expenses and the absence of a civil tax penalty recognized in the prior period.
In terms of operational changes, Wewards has not entered into any licensing agreements for its web-based platform, which is designed to allow consumers to earn Bitcoin rebates through purchases. The company has also not generated revenue from its intellectual property related to the game Megopoly, which it acquired in 2020. The development agreement for Megopoly was terminated in December 2021, and the company is now actively seeking licensing arrangements to bring the game to market. As of May 31, 2026, Wewards had no full-time employees, relying solely on its CEO, Lei Pei, who does not receive a salary.
The company’s financial position has deteriorated, with current assets dropping to $300 from $693,777 in the previous year, while current liabilities decreased to $400 from $4,046,231. This resulted in a working capital deficit of $100, compared to a deficit of $3,352,454 in 2025. The company’s cash flow from operating activities showed a slight improvement, with a net cash outflow of $59,990 in 2026, down from $70,915 in 2025. However, the company reported a significant cash decrease of $693,290 due to the repayment of convertible notes payable.
Looking ahead, Wewards faces substantial challenges, including a lack of sufficient funds to sustain operations for the next twelve months. The company has been dependent on its CEO and related parties for financing, and there is no assurance that such financing will continue. The management has acknowledged the need for additional capital to achieve sustainable revenues and profitable operations. The company’s ability to continue as a going concern is uncertain, and it has not generated any revenue from its operations to date.
About WEWARDS, INC.
Wewards, Inc. develops a web-based platform and intellectual property focused on blockchain rewards and online gaming. Its primary activities include licensing a Bitcoin rewards ecosystem and a multiplayer online game, Megopoly. The company targets digital consumers and merchants, offering innovative, blockchain-based incentives and entertainment. It operates through licensing agreements, aiming to generate revenue from third-party platform and game licensing, with a focus on blockchain and gaming markets.
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