Wewards, Inc. Reports No Revenue and Increased Losses for Three and Nine Months Ended February 28, 2026

Wewards, Inc. reported its financial results for the three and nine months ended February 28, 2026, revealing no revenue generation during these periods. The company continues to operate at a loss, with a net loss of $139,114 for the three months and $437,746 for the nine months, reflecting slight increases of 1% and less than 1%, respectively, compared to the same periods in the previous fiscal year. Operating expenses totaled $14,393 for the three months and $59,625 for the nine months, with general and administrative expenses decreasing significantly by 56% to $718 for the three months, while professional fees increased by 13% to $13,675.

In terms of financial position, Wewards reported total assets of $648,577 as of February 28, 2026, a decrease from $693,777 as of May 31, 2025. Current liabilities increased to $14,938,777, primarily due to accrued interest on related party loans, which rose to $4,438,577. The company's accumulated deficit also widened to $19,559,215, up from $19,121,469, indicating ongoing financial challenges. The company’s cash balance decreased to $648,052, down from $693,290, raising concerns about its ability to sustain operations without additional financing.

Wewards has not engaged in any significant strategic developments, such as acquisitions or product launches, during the reporting period. The company continues to focus on its web-based platform designed to enable consumers to earn Bitcoin rebates through purchases from merchants. However, it has yet to secure any licensing agreements to monetize this platform, which has hindered revenue generation. The company remains dependent on its CEO, Lei Pei, for financial support, primarily through convertible loans, raising questions about its long-term viability.

Operationally, Wewards has not reported any significant changes in customer counts or user engagement metrics, as it has not yet launched its platform commercially. The company’s employee headcount remains stable, with no new hires or layoffs reported. The lack of revenue and ongoing losses have resulted in negative working capital of $3,790,200, further complicating its financial outlook.

Looking ahead, Wewards acknowledges the need for additional financing to continue operations and achieve sustainable revenue. The company is actively pursuing licensing agreements to bring its platform to market, but there is no assurance that it will secure the necessary funding or achieve profitability in the near future. The management has indicated that the financial statements do not include adjustments that might be necessary if the company is unable to continue as a going concern, highlighting the precarious nature of its current financial situation.