Wolverine Technologies (WOLV) 10-Q6 Jan 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Aug. 31, 2014	Dec. 30, 2014
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Aug-14
Trading Symbol	wolv
Entity Registrant Name	Wolverine Exploration Inc.
Entity Central Index Key	1424404
Current Fiscal Year End Date	-26
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		200,563,333
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Balance_Sheets

Balance Sheets (USD $)	Aug. 31, 2014	31-May-14
Current Assets
Cash	$100	$135
Amounts receivable	3,984	2,053
Total Current Assets	4,084	2,188
Mineral property costs	201,250	201,250
Total Assets	205,334	203,438
Current Liabilities
Accounts payable and accrued liabilities	256,457	215,966
Due to related party	62,039	53,914
Total Liabilities	318,496	269,880
Stockholders' Deficit
Common stock, 200,000,000 shares authorized, $0.001 par value 194,063,333 shares issued and outstanding	194,063	194,063
Additional paid-in capital	3,990,672	3,990,672
Accumulated Deficit	-4,297,897	-4,251,177
Total Stockholders' Deficit	-113,162	-66,442
Total Liabilities and Stockholders' Deficit	$205,334	$203,438

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Aug. 31, 2014	31-May-14
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Par Value Per Share	$0.00	$0.00
Common Stock, Shares, Issued	194,063,333	194,063,333
Common Stock, Shares, Outstanding	194,063,333	194,063,333

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended
Statements of Operations (USD $)	Aug. 31, 2014	Aug. 31, 2013
Expenses
Depreciation	$0	$206
Foreign exchange gain	-765	-3,126
General and administrative	47,485	64,143
Total Expenses	46,720	61,223
Net Loss	($46,720)	($61,223)
Net Loss Per Share, Basic and Diluted	$0	$0
Weighted Average Shares Outstanding	194,063,333	182,378,550

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	3 Months Ended
Statements of Cash Flows (USD $)	Aug. 31, 2014	Aug. 31, 2013
Operating Activities
Net loss	($46,720)	($61,223)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	0	206
Changes in operating assets and liabilities
Amounts receivable	-1,931	394
Accounts payable	37,111	42,978
Accrued liabilities	3,380	11,468
Due to related party	8,125	6,157
Net Cash Used In Operating Activities	-35	-20
Decrease in Cash	-35	-20
Cash, Beginning of Period	135	63
Cash, End of Period	100	43
Non-cash Investing and Financing Activities:
Shares issued pursuant to the acquisition of mineral properties	0	201,250
Supplemental Disclosures:
Interest paid	0	0
Income taxes paid	$0	$0

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Aug. 31, 2014
Basis of Presentation [Text Block]	1	Basis of Presentation

		Wolverine Exploration Inc. (the “Company”) was incorporated in the State of Nevada on February 23, 2006. The Company’s principal business is the acquisition and exploration of mineral resources. The Company has not presently determined whether its properties contain mineral reserves that are economically recoverable.

		The accompanying financial statements of Wolverine Exploration Inc.(the “Company”) should be read in conjunction with the financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2014. In the opinion of management, the accompanying financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown.

		The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year.

		Going Concern

		These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has never generated revenues since inception and is unlikely generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As August 31, 2014, the Company has a working capital deficiency of $314,412 and has accumulated losses of $4,297,897 since inception. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Aug. 31, 2014
Recent Accounting Pronouncements [Text Block]	2	Recent Accounting Pronouncements

		The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Aug. 31, 2014
Related Party Transactions [Text Block]	3	Related Party Transactions

		(a)	During the three months ended August 31, 2014, the Company incurred consulting fees of $8,311 (2013 - $8,662) to the President of the Company.

		(b)	During the three months ended August 31, 2014, the Company incurred consulting fees of $29,088 (2013 - $28,874) and rent of $2,909 (2013 - $2,887) to a company controlled by the brother of the President of the Company which is included in general and administrative expenses.

		(c)	As at August 31, 2014, the Company owed $43,645 (Cdn$47,456) (May 31, 2014 - $35,468 (Cdn$38,456)) to the President of the Company which is non-interest bearing, unsecured, and due on demand.

		(d)	As at August 31, 2014, the Company owes $18,394 (Cdn$20,000) (May 31, 2014 - $18,446 (Cdn$20,000)) for cash advances received from a company controlled by the brother of the President of the Company, which is non-interest bearing, unsecured, and due on demand. As at August 31, 2014, included in accounts payable are the amounts of $91,518 (Cdn$99,508) (May 31, 2014 - $59,819 (Cdn$64,858)) owing to this company.

		(e)	As at August 31, 2014, included in accounts payable is the amount of $24 (Cdn$26) (May 31, 2014 - $24 (Cdn$26)) owing to the brother of the President of the Company, which is non-interest bearing, unsecured and due on demand.

Stockbased_Compensation

Stock-based Compensation

3 Months Ended

Aug. 31, 2014

Stock-based Compensation [Text Block]

Stock-based Compensation

On May 28, 2010, the Board of Directors of the Company adopted the 2010 Stock Plan (the “Plan”). The maximum number of shares of the Company’s common stock available for issuance under the Plan is 10,294,500 shares. An aggregate of 5,147,250 shares may be issued under stock options and an aggregate of 5,147,250 shares may be issued in the form of restricted shares.

A summary of the Company’s stock option activity is as follows:

Weighted

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

Options

Price

Life (years)

Value

Outstanding and exercisable, August 31, 2014 and May 31, 2014

5,100,000

0.05

0.79

–

There were no options issued during the three months ended August 31, 2014.

Commitments

Commitments	3 Months Ended
Commitments	Aug. 31, 2014
Commitments [Text Block]	5	Commitments

		(a)	On January 31, 2007, the Company entered into a consulting agreement with a company whereby it has agreed to pay $10,000 per month. The Company is obligated to issue a bonus of 5% of the Company's issued and outstanding common shares as of the date of the payment of the bonus upon and only in the event of the discovery of a major commercially viable mineral resource deposit. As at August 31, 2014, the Company has not issued a bonus. During the three months ended August 31, 2014, the Company recorded consulting fees of $30,000.

		(b)	On December 1, 2013, the Company agreed to issue 1,000,000 shares of common stock with a fair value of $5,000 to settle accounts payable of $10,000. Subsequent to August 31, 2014, the Company issued 1,000,000 shares to settle the accounts payable (Note 6 (a)).

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Aug. 31, 2014
Subsequent Events [Text Block]	6	Subsequent Events

		(a)	On September 8, 2014, the Company issued 5,000,000 shares of common stock pursuant to the settlement of $50,000 of debt owed to two individuals.

		(b)	On September 29, 2014, the Company issued 1,500,000 shares of common stock pursuant to a private placement at $0.01 per share for proceeds of $15,000.

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)