Wewards, Inc. Reports No Revenue and Significant Loss Reduction for Quarter Ending August 31, 2026

Wewards, Inc. reported its financial results for the three months ending August 31, 2026, revealing no revenue generation during the period, consistent with the same quarter in the previous year. The company recorded an operating loss of $20,150, a significant reduction from the $29,980 loss reported in the same quarter of 2025, marking a 33% decrease. The net loss for the quarter was $20,150, down 87% from the $159,009 loss in the prior year, primarily due to reduced professional fees and the absence of interest expenses related to prior loans.

Total operating expenses for the quarter were $20,150, down from $29,980 in the previous year. General and administrative expenses increased to $1,400 from $760, while professional fees decreased significantly from $29,220 to $18,750. The decrease in professional fees was attributed to lower audit and accounting costs. The company did not incur any software development costs during the quarter, as it continues to seek licensing agreements to monetize its platform.

Wewards' balance sheet as of August 31, 2026, showed total assets of $75, a decrease from $300 as of May 31, 2026. The company reported no current liabilities, down from $400 in the previous period. Stockholders' equity stood at $75, reflecting a slight increase from a deficit of $100. The company’s accumulated deficit increased to $19,639,131 from $19,618,981, indicating ongoing financial challenges.

The company remains focused on its strategic goal of launching its web-based platform, which allows consumers to earn Bitcoin rebates through purchases from merchants. However, as of the reporting date, Wewards has not entered into any licensing agreements and has not generated revenue from its platform. The management has expressed concerns regarding the company's ability to continue as a going concern, emphasizing the need for additional financing to sustain operations. The CEO, Lei Pei, has historically provided financial support, but there is no assurance that this will continue.

Looking ahead, Wewards is actively pursuing licensing arrangements to generate revenue and is exploring opportunities to expand its operational activities. The company acknowledges that it will require additional capital to fund its operations and repay any related party debts. The management's ability to secure financing will be critical to the company's future viability and growth prospects.