Wolverine Technologies (WOLV) 10-Q 19 Jun 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Feb. 28, 2019	Jun. 19, 2019
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 28, 2019
Entity Registrant Name	Wolverine Technologies Corp.
Entity Central Index Key	0001424404
Current Fiscal Year End Date	--05-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		477,270,993
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false

Balance Sheets

Balance Sheets	Feb. 28, 2019USD ($)	May 31, 2018USD ($)
Current Assets
Cash	$ 3	$ 18,982
Other receivable	5,865	2,112
Total Assets	5,868	21,094
Current Liabilities
Accounts payable and accrued liabilities	165,492	171,812
Short term debt - related parties	45,137	26,377
Total Liabilities	210,629	198,189
Stockholders' Deficit
Common stock, 500,000,000 shares authorized, $0.001 par value 477,270,993 shares issued and outstanding at February 28, 2019 (May 31, 2018 - 432,020,993 shares)	477,271	432,021
Subscriptions received	46,032	66,328
Additional paid-in capital	5,238,347	5,105,472
Accumulated deficit	(5,966,411)	(5,780,916)
Total Stockholders' Deficit	(204,761)	(177,095)
Total Liabilities and Stockholders' Deficit	$ 5,868	$ 21,094

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Feb. 28, 2019	May 31, 2018
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	477,270,993	432,020,993
Common Stock, Shares, Outstanding	477,270,993	432,020,993

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	Feb. 28, 2019	Feb. 28, 2018
Operating Expenses
General and administrative	$ 46,061	$ 102,156	$ 183,432	$ 202,686
Total Operating Expenses	46,061	102,156	183,432	202,908
Net Loss Before Other Expenses	(46,061)	(102,156)	(183,432)	(202,908)
Other Income (Expense)
Foreign exchange gain (loss)	(665)	(5,521)	1,023	(12,786)
Loss on settlement of debt		(38)	(3,086)	(38)
Net Loss	$ (46,726)	$ (107,715)	$ (185,495)	$ (215,732)
Net Loss Per Common Share, Basic and Diluted (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted Average Common Shares Outstanding, Basic and Diluted (in shares)	477,270,993	358,016,549	454,065,865	369,829,052
Mineral exploration [Member]
Operating Expenses
Mineral exploration costs				$ 222

Statements of Changes in Stockh

Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Subscriptions Received [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at May. 31, 2017	$ 346,521	$ 26,798	$ 4,882,331	$ (5,534,279)	$ (278,629)
Beginning Balance (Shares) at May. 31, 2017	346,520,993
Common stock subscribed for cash		173,764			173,764
Common stock issued for cash	$ 38,200	(154,854)	116,653		(1)
Common stock issued for cash (Shares)	38,200,000
Common stock issued to settle debt	$ 31,700		100,430		132,130
Common stock issued to settle debt (Shares)	31,700,000
Common stock issued to settle related party debt	$ 4,000		8,000		12,000
Common stock issued to settle related party debt (Shares)	4,000,000
Net loss for the period				(215,732)	(215,732)
Ending Balance at Feb. 28, 2018	$ 420,421	45,708	5,107,414	(5,750,011)	(176,468)
Ending Balance (Shares) at Feb. 28, 2018	420,420,993
Beginning Balance at Nov. 30, 2017	$ 346,521	47,463	4,882,331	(5,642,296)	(365,981)
Beginning Balance (Shares) at Nov. 30, 2017	346,520,993
Common stock subscribed for cash		153,099			153,099
Common stock issued for cash	$ 38,200	(154,854)	116,653		(1)
Common stock issued for cash (Shares)	38,200,000
Common stock issued to settle debt	$ 31,700		100,430		132,130
Common stock issued to settle debt (Shares)	31,700,000
Common stock issued to settle related party debt	$ 4,000		8,000		12,000
Common stock issued to settle related party debt (Shares)	4,000,000
Net loss for the period				(107,715)	(107,715)
Ending Balance at Feb. 28, 2018	$ 420,421	45,708	5,107,414	(5,750,011)	(176,468)
Ending Balance (Shares) at Feb. 28, 2018	420,420,993
Beginning Balance at May. 31, 2018	$ 432,021	66,328	5,105,472	(5,780,916)	(177,095)
Beginning Balance (Shares) at May. 31, 2018	432,020,993
Common stock subscribed for cash		46,032			46,032
Common stock issued for cash	$ 23,800	(66,328)	68,525		25,997
Common stock issued for cash (Shares)	23,800,000
Common stock issued to settle debt	$ 6,850		20,550		27,400
Common stock issued to settle debt (Shares)	6,850,000
Common stock issued to settle related party debt	$ 14,600		43,800		58,400
Common stock issued to settle related party debt (Shares)	14,600,000
Net loss for the period				(185,495)	(185,495)
Ending Balance at Feb. 28, 2019	$ 477,271	46,032	5,238,347	(5,966,411)	(204,761)
Ending Balance (Shares) at Feb. 28, 2019	477,270,993
Beginning Balance at Nov. 30, 2018	$ 477,271	12,220	5,238,347	(5,919,685)	(191,847)
Beginning Balance (Shares) at Nov. 30, 2018	477,270,993
Common stock subscribed for cash		33,812			33,812
Net loss for the period				(46,726)	(46,726)
Ending Balance at Feb. 28, 2019	$ 477,271	$ 46,032	$ 5,238,347	$ (5,966,411)	$ (204,761)
Ending Balance (Shares) at Feb. 28, 2019	477,270,993

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited)	9 Months Ended
	Feb. 28, 2019USD ($)	Feb. 28, 2018USD ($)
Operating Activities
Net loss	$ (185,495)	$ (215,732)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on settlement of debt	3,086	38
Effect of foreign currency on cash		(12,786)
Changes in operating assets and liabilities:
Other receivable	(3,753)	(5,575)
Accounts payable	20,094	122,498
Accounts payable - related parties	72,925	(11,832)
Net Cash Used in Operating Activities	(93,143)	(123,389)
Financing Activities
Proceeds from issuance of common stock	25,997	129,035
Proceeds from common stock subscriptions	46,032	45,708
Advances from shareholder	2,135	10,805
Repayment on advances to shareholder		(32,903)
Net Cash Provided by Financing Activities	74,164	152,645
Change in Cash	(18,979)	29,256
Cash, Beginning of Period	18,982	47
Cash, End of Period	3	29,303
Non-cash Investing and Financing Activities:
Payments made by shareholders on behalf of Company	3,302	7,021
Shares issued to settle accounts payable	27,400	126,750
Shares issued to settle related party accounts payable	58,400	16,400
Stocks issued for prior year subscriptions	66,328	26,798
Supplemental Disclosures:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Organization and basis of prese

Organization and basis of presentation	9 Months Ended
	Feb. 28, 2019
Organization and basis of presentation [Text Block]	1. Wolverine Technologies Corp. (the "Company") was incorporated in the State of Nevada on February 23, 2006. The Company's prior principal business was the acquisition and exploration of mineral resources. The Company had not determined that its properties contain mineral reserves that were economically recoverable, financing had not yet become available, and commodity prices had not fully recovered. Therefore, management decided to change the focus of the Company to include cyber security. Effective August 12, 2015, the Company changed its name from Wolverine Exploration Inc. to Wolverine Technologies Corp. Basis of Presentation These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. The Company's fiscal year-end is May 31. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") have been condensed or omitted. The accompanying financial statements of 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, 2018. 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 result 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 and is unlikely to 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. The Company plans to raise financing of debt or equity. There can be no assurance that additional financing will be available when needed or, if available, that it can be obtained on commercially reasonable terms. At February 28, 2019, the Company has a working capital deficiency of $204,761 and has accumulated losses of $5,966,411 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. Reclassifications Certain comparative figures have been reclassified to conform to the current year's presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Feb. 28, 2019
Recent Accounting Pronouncements [Text Block]	2. 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	9 Months Ended
	Feb. 28, 2019
Related Party Transactions [Text Block]	3. (a) (b) (c) (d) (e)

Common Stock

Common Stock	9 Months Ended
	Feb. 28, 2019
Common Stock [Text Block]	4. Stock transactions during the nine months ended February 28, 2019: (a) (b) (c) (d) At February 28, 2019 and 2018, the Company had no dilutive shares, or common stock equivalents.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Feb. 28, 2019
Stock-based Compensation [Text Block]	5. 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. At February 28, 2019 and 2018, the Company had no outstanding or exercisable stock options.

Commitments

Commitments	9 Months Ended
	Feb. 28, 2019
Commitments [Text Block]	6. (a) (b)

Subsequent Events

Subsequent Events	9 Months Ended
	Feb. 28, 2019
Subsequent Events [Text Block]	7. Subsequent to February 28, 2019, the Company received cash proceeds of US$43,785 (Cdn$56,950) relating to share subscriptions.

Organization and basis of pre_2

Organization and basis of presentation (Policies)	9 Months Ended
	Feb. 28, 2019
Basis of Presentation [Policy Text Block]	Basis of Presentation These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. The Company's fiscal year-end is May 31. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") have been condensed or omitted. The accompanying financial statements of 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, 2018. 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 result 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 [Policy Text Block]	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 and is unlikely to 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. The Company plans to raise financing of debt or equity. There can be no assurance that additional financing will be available when needed or, if available, that it can be obtained on commercially reasonable terms. At February 28, 2019, the Company has a working capital deficiency of $204,761 and has accumulated losses of $5,966,411 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.
Reclassifications [Policy Text Block]	Reclassifications Certain comparative figures have been reclassified to conform to the current year's presentation.
Recent Accounting Pronouncements [Policy Text Block]	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.

Organization and basis of pre_3

Organization and basis of presentation (Narrative) (Details) - USD ($)	Feb. 28, 2019	May 31, 2018
Working capital deficiency	$ 204,761
Accumulated deficit	$ 5,966,411	$ 5,780,916

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	9 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	May 31, 2018
A company controlled by the President of the Company [Member]
Related Party Transaction, Amounts of Transaction	$ 22,928	$ 26,766
Due to Related Parties, Current	32,668		$ 17,814
Director [Member]
Related Party Transaction, Amounts of Transaction	14,518	$ 23,418
Due to Officers or Stockholders, Current	10,334		8,563
A shareholder [Member]
Due to Officers or Stockholders, Current	$ 2,135

Common Stock (Narrative) (Detai

Common Stock (Narrative) (Details)	Oct. 15, 2018USD ($)$ / sharesshares	Oct. 15, 2018CAD ($)shares	Feb. 28, 2018USD ($)	Feb. 28, 2019USD ($)	Feb. 28, 2018USD ($)	May 31, 2018USD ($)	May 31, 2018CAD ($)	Feb. 28, 2019CAD ($)
Common stock issued to settle related party debt			$ 12,000	$ 58,400	$ 12,000
Loss on Extinguishment of Debt			$ 38	3,086	38
Stock Issued During Period, Shares, New Issues | shares	23,800,000	23,800,000
Sale of Stock, Price Per Share | $ / shares	$ 0.005
Proceeds from Issuance of Private Placement	$ 92,325	$ 119,000		46,032	$ 45,708	$ 66,328	$ 85,000
Subscriptions received				$ 46,032		$ 66,328		$ 61,000
Shares issued to settle accounts payable [Member]
Stock issued during period, shares, to settle accounts payable | shares	6,850,000	6,850,000
Stock issued during period, value, to settle accounts payable	$ 27,400
Extinguishment of Debt, Amount	26,414
Loss on Extinguishment of Debt	$ 986
Shares issued to settle related party accounts payable [Member]
Common stock issued to settle related party debt (Shares) | shares	14,600,000	14,600,000
Common stock issued to settle related party debt	$ 58,400
Extinguishment of Debt, Amount	56,300
Loss on Extinguishment of Debt	$ 2,100

Stock-based Compensation (Narra

Stock-based Compensation (Narrative) (Details) - shares	Feb. 28, 2019	May 31, 2018	May 28, 2010
Common Stock, Shares Authorized	500,000,000	500,000,000
2010 Stock Plan [Member]
Common Stock, Shares Authorized			10,294,500
2010 Stock Plan - Stock Options [Member]
Common Stock, Shares Authorized			5,147,250
2010 Stock Plan - Restricted Shares [Member]
Common Stock, Shares Authorized			5,147,250

Commitments (Narrative) (Detail

Commitments (Narrative) (Details)	1 Months Ended	9 Months Ended
	Apr. 19, 2016shares	Feb. 28, 2019USD ($)	Feb. 28, 2019CAD ($)	Feb. 28, 2018USD ($)	Feb. 28, 2018CAD ($)
Consulting agreement, monthly payment		$ 7,600	$ 10,000
Share bonus in the event of the discovery of a major commercially viable mineral resource deposit		5.00%	5.00%
Consulting fees		$ 68,785	$ 90,000	$ 94,042	$ 120,000
Consulting fees under consulting agreement				70,531	90,000
Consulting fees due to an increase in financing activities				$ 23,511	$ 30,000
Decision-Zone Inc. [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	400,000,000
Equity Method Investment, Ownership Percentage	15.00%

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)	Oct. 15, 2018USD ($)	Oct. 15, 2018CAD ($)	Feb. 28, 2019USD ($)	Feb. 28, 2019CAD ($)	Feb. 28, 2018USD ($)	May 31, 2018USD ($)	May 31, 2018CAD ($)
Proceeds from Issuance of Private Placement	$ 92,325	$ 119,000	$ 46,032		$ 45,708	$ 66,328	$ 85,000
Subsequent Event [Member]
Proceeds from Issuance of Private Placement			$ 43,785	$ 56,950