Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Aug. 31, 2021 | Nov. 24, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | WOLVERINE TECHNOLOGIES CORP. | |
Entity Central Index Key | 0001424404 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Aug. 31, 2021 | |
Current Fiscal Year End Date | --05-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity File Number | 000-53767 | |
Entity Tax Identification Number | 98-0569013 | |
Entity Incorporation, State or Country Code | Z4 | |
Entity Address, Address Line One | 55-11020 Williams Road, Richmond | |
Entity Address, City or Town | British Columbia | |
Entity Common Stock, Shares Outstanding | 675,626,548 | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | V7A 1X8 | |
Local Phone Number | 297.4409 | |
City Area Code | 778 | |
Entity Current Reporting Status | No | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | No |
Balance Sheets
Balance Sheets - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Current Assets | ||
Cash | $ 76 | $ 9,111 |
GST receivable | 10,835 | 9,313 |
Prepaid expenses | 1,438 | 0 |
Total Assets | 12,349 | 18,424 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 257,308 | 244,936 |
Short term debt - related parties | 90,851 | 90,520 |
Total Liabilities | 348,159 | 335,456 |
Commitments and Contingencies | 0 | 0 |
Stockholders' Deficit | ||
Common stock, 2,000,000,000 shares authorized, $0.001 par value 675,626,548 and 635,626,548 shares issued and outstanding at August 31, 2021 and May 31, 2021, respectively | 675,627 | 635,627 |
Subscriptions received | 0 | 44,703 |
Additional paid-in capital | 5,523,921 | 5,483,001 |
Accumulated deficit | (6,535,358) | (6,480,363) |
Total Stockholders' Deficit | (335,810) | (317,032) |
Total Liabilities and Stockholders' Deficit | $ 12,349 | $ 18,424 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Aug. 31, 2021 | May 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Shares Authorized | 2,000,000,000 | 2,000,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 675,626,548 | 635,626,548 |
Common Stock, Shares, Outstanding | 675,626,548 | 635,626,548 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Operating Expenses | ||
General and administrative | $ 63,871 | $ 33,871 |
Total Operating Expenses | 63,871 | 33,871 |
Net Loss Before Other Expenses | (63,871) | (33,871) |
Other Income (Expense) | ||
Foreign exchange gain (loss) | 8,876 | (2,991) |
Net Loss | $ (54,995) | $ (36,862) |
Net Loss Per Common Share, Basic and Diluted (in dollars per share) | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding, Basic and Diluted (in shares) | 649,539,591 | 630,626,548 |
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 |
Balance at May. 31, 2020 | $ 630,627 | $ 10,736 | $ 5,477,265 | $ (6,303,713) | $ (185,085) |
Balance (Shares) at May. 31, 2020 | 630,626,548 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net loss for the period | (36,862) | (36,862) | |||
Balance at Aug. 31, 2020 | $ 630,627 | 10,736 | 5,477,265 | (6,340,575) | (221,947) |
Balance (Shares) at Aug. 31, 2020 | 630,626,548 | ||||
Balance at May. 31, 2021 | $ 635,627 | 44,703 | 5,483,001 | (6,480,363) | (317,032) |
Balance (Shares) at May. 31, 2021 | 635,626,548 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common stock issued for cash | $ 18,000 | 18,217 | 36,217 | ||
Common stock issued for cash (Shares) | 18,000,000 | ||||
Common stock issued for subscriptions received | $ 22,000 | $ (44,703) | 22,703 | ||
Common stock issued for subscriptions received (Shares) | 22,000,000 | ||||
Net loss for the period | (54,995) | (54,995) | |||
Balance at Aug. 31, 2021 | $ 675,627 | $ 5,523,921 | $ (6,535,358) | $ (335,810) | |
Balance (Shares) at Aug. 31, 2021 | 675,626,548 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Operating Activities | ||
Net loss | $ (54,995) | $ (36,862) |
Changes in operating assets and liabilities: | ||
Other receivable | (1,522) | 336 |
Accounts payable | 12,372 | 21,871 |
Accounts payable - related parties | 331 | 11,555 |
Prepaid expenses | (1,438) | 0 |
Net Cash Used in Operating Activities | (45,252) | (3,100) |
Financing Activities | ||
Proceeds from common stock issued | 36,217 | 0 |
Net Cash Provided by Financing Activities | 36,217 | 0 |
Decrease in Cash | (9,035) | (3,100) |
Cash, Beginning of Period | 9,111 | 3,177 |
Cash, End of Period | 76 | 77 |
Non-cash Investing and Financing Activities: | ||
Common stock issued for subscriptions received | 44,703 | 0 |
Supplemental Disclosures: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
Organization and basis of prese
Organization and basis of presentation | 3 Months Ended |
Aug. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and basis of presentation [Text Block] | 1. Organization and basis of presentation Wolverine Technologies Corp. (the "Company") was incorporated in the State of Nevada on February 23, 2006. The Company's 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. The Company has now refocused its efforts back to the exploration of mineral resources. The recent outbreak of the novel coronavirus COVID-19, which was declared a pandemic by the World Health Organization on March 11, 2020, has led to adverse impacts on the U.S. and global economies, disruptions of financial markets, and created uncertainty regarding potential impacts to the Company's operations. The COVID-19 pandemic has impacted and could further impact the Company's operations and the operations of the Company's suppliers and vendors as a result of quarantines, facility closures, and travel and logistics restrictions. The extent to which the COVID-19 pandemic impacts the Company's business, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to the duration, spread, severity, and impact of the COVID-19 pandemic, the effects of the COVID-19 pandemic on the Company's suppliers and vendors and the remedial actions and stimulus measures adopted by local and federal governments, and to what extent normal economic and operating conditions can resume. The management team is closely following the progression of COVID-19 and its potential impact on the Company. Even after the COVID-19 pandemic has subsided, the Company may experience adverse impacts to its business as a result of any economic recession or depression that has occurred or may occur in the future. Therefore, the Company cannot reasonably estimate the impact at this time on its business, liquidity, capital resources and financial results. 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 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, 2021. 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 August 31, 2021, the Company has a working capital deficiency of $335,810 and has accumulated losses of $6,535,358 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 Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Aug. 31, 2021 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
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 |
Aug. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | 3. Related Party Transactions (a) During the three months ended August 31, 2021, the Company incurred consulting fees of $4,017 (2020 - $7,699) to a company controlled by the President of the Company. (b) As at August 31, 2021, the Company owes $59,089 (May 31, 2021 - $57,292) to a company controlled by the President of the Company, which is non-interest bearing, unsecured and due on demand. (c) As at August 31, 2021, the Company owes $31,762 (May 31, 2021 - $33,228) to a Director of the Company, which is non-interest bearing, unsecured and due on demand. |
Mineral Properties
Mineral Properties | 3 Months Ended |
Aug. 31, 2021 | |
Mineral Properties, Net [Abstract] | |
Mineral Properties [Text Block] | 4. Mineral Properties In November 2020 and April 2021, the Company staked mineral claims located in Labrador, Canada for $2,668 (Cdn$3,448). During the year ended May 31, 2021, the Company wrote off the mineral property acquisition costs of $2,668 due to the uncertainty of establishing proven and probable reserves. |
Common Stock
Common Stock | 3 Months Ended |
Aug. 31, 2021 | |
Equity [Abstract] | |
Common Stock [Text Block] | 5. Common Stock Stock transactions during the three months ended August 31, 2021: (a) On July 26, 2021, the Company issued 20,000,000 shares of common stock at a price of Cdn$0.0025 per share pursuant to a private placement for cash proceeds of $40,953 (Cdn$50,000) received during the year ended May 31, 2021. (b) On July 26, 2021, the Company issued 17,000,000 shares of common stock at a price of Cdn$0.0025 per share pursuant to a private placement for cash proceeds of $34,342 (Cdn$42,500). (c) On July 26, 2021, the Company issued 2,000,000 shares of common stock at a price of $0.001875 per share pursuant to a private placement for cash proceeds of $3,750 received during the year ended May 31, 2021. (d) On July 26, 2021, the Company issued 1,000,000 shares of common stock at a price of $0.001875 per share pursuant to a private placement for cash proceeds of $1,875. There were no stock transactions during the three months ended August 31, 2020: At August 31, 2021 and 2020, the Company had no dilutive shares, or common stock equivalents. |
Stock-based Compensation
Stock-based Compensation | 3 Months Ended |
Aug. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-based Compensation [Text Block] | 6. 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. As at August 31, 2021, there were none issued. At August 31, 2021 and 2020, the Company had no outstanding or exercisable stock options. |
Commitments
Commitments | 3 Months Ended |
Aug. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments [Text Block] | 7. Commitments (a) On January 31, 2007, the Company entered into a consulting agreement with a company whereby it has agreed to pay $8,034 (Cdn$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, 2021, the Company has not issued a bonus. During the three months ended August 31, 2021, the Company recorded consulting fees of $23,763 (Cdn$30,000). During the three months ended August 31, 2020, the Company recorded consulting fees of $23,007 (Cdn$30,000). (b) On April 19, 2016, the Company signed a Share Purchase Agreement with a Director of the Company, whereby the Company will issue, in a private placement, 400,000,000 shares of common stock of the Company in consideration for one-third of the net proceeds that the Director will receive from the sale of the Director's 15% interest in Decision-Zone Inc. As of the date of this filing, the agreement has not yet closed. |
Subsequent events
Subsequent events | 3 Months Ended |
Aug. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent events [Text Block] | 8. Subsequent events Subsequent to August 31, 2021, the Company received cash proceeds of $25,715 (Cdn$32,500) for the subscription of 13,000,000 shares of common stock at a price of Cdn$0.0025 per share pursuant to a private placement. As of the date of these financial statements the shares had yet to be issued. Subsequent to August 31, 2021, the Company received cash proceeds of $18,750 for the subscription of 10,000,000 shares of common stock at a price of $0.001875 per share pursuant to a private placement. As of the date of these financial statements the shares had yet to be issued. The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of August 31, 2021, have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC |
Organization and basis of pre_2
Organization and basis of presentation (Policies) | 3 Months Ended |
Aug. 31, 2021 | |
Accounting Policies Abstract | |
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 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, 2021. 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 August 31, 2021, the Company has a working capital deficiency of $335,810 and has accumulated losses of $6,535,358 since inception. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Organization and basis of pre_3
Organization and basis of presentation (Narrative) (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficiency | $ 335,810 | |
Accumulated deficit | $ (6,535,358) | $ (6,480,363) |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | 3 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | May 31, 2021 | |
Related Party Transaction [Line Items] | |||
Due to related parties, current | $ 90,851 | $ 90,520 | |
A company controlled by a president of the Company [Member] | |||
Related Party Transaction [Line Items] | |||
Consulting fees | 4,017 | $ 7,699 | |
Due to related parties, current | 59,089 | 57,292 | |
Director [Member] | |||
Related Party Transaction [Line Items] | |||
Due to director, current | $ 31,762 | $ 33,228 |
Mineral Properties (Narrative)
Mineral Properties (Narrative) (Details) | 12 Months Ended | ||||
May 31, 2021USD ($) | Nov. 30, 2020CAD ($) | Nov. 30, 2020USD ($) | Apr. 30, 2020CAD ($) | Apr. 30, 2020USD ($) | |
Mineral Properties, Net [Abstract] | |||||
Mineral claims | $ 3,448 | $ 2,668 | $ 3,448 | $ 2,668 | |
Write off amount of mineral property acquisition costs | $ 2,668 |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Jul. 26, 2021CAD ($)$ / sharesshares | Jul. 26, 2021USD ($)shares | Aug. 31, 2021USD ($) | Aug. 31, 2020USD ($) | May 31, 2021CAD ($) | May 31, 2021USD ($) | Jul. 26, 2021$ / shares | |
Equity [Line Items] | |||||||
Proceeds from issuance of common stock | $ | $ 36,217 | $ 0 | |||||
Private Placement [Member] | |||||||
Equity [Line Items] | |||||||
Common stock issued for cash (Shares) | shares | 20,000,000 | 20,000,000 | |||||
Common stock price per share | $ / shares | $ 0.0025 | ||||||
Proceeds from issuance of common stock | $ 50,000 | $ 40,953 | |||||
Private Placement - 2 [Member] | |||||||
Equity [Line Items] | |||||||
Common stock issued for cash (Shares) | shares | 17,000,000 | 17,000,000 | |||||
Common stock price per share | $ / shares | $ 0.0025 | ||||||
Proceeds from issuance of common stock | $ 42,500 | $ 34,342 | |||||
Private Placement - 3 [Member] | |||||||
Equity [Line Items] | |||||||
Common stock issued for cash (Shares) | shares | 2,000,000 | 2,000,000 | |||||
Common stock price per share | $ / shares | $ 0.001875 | ||||||
Proceeds from issuance of common stock | $ | $ 3,750 | ||||||
Private Placement - 4 [Member] | |||||||
Equity [Line Items] | |||||||
Common stock issued for cash (Shares) | shares | 1,000,000 | 1,000,000 | |||||
Common stock price per share | $ / shares | $ 0.001875 | ||||||
Proceeds from issuance of common stock | $ | $ 1,875 |
Stock-based Compensation (Narra
Stock-based Compensation (Narrative) (Details) | May 28, 2010shares |
2010 Stock Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Maximum number of shares of common stock available for issuance | 10,294,500 |
2010 Stock Plan - Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Maximum number of shares of common stock available for issuance | 5,147,250 |
2010 Stock Plan - Restricted Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Maximum number of shares of common stock available for issuance | 5,147,250 |
Commitments (Narrative) (Detail
Commitments (Narrative) (Details) | 1 Months Ended | 3 Months Ended | |||
Apr. 19, 2016shares | Aug. 31, 2021CAD ($) | Aug. 31, 2021USD ($) | Aug. 31, 2020CAD ($) | Aug. 31, 2020USD ($) | |
Loss Contingencies [Line Items] | |||||
Consulting agreement, monthly payment | $ 10,000 | $ 8,034 | |||
Consulting fees | $ 30,000 | $ 23,763 | $ 30,000 | $ 23,007 | |
Decision-Zone Inc. [Member] | |||||
Loss Contingencies [Line Items] | |||||
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) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Nov. 24, 2021CAD ($)$ / sharesshares | Nov. 24, 2021USD ($)shares | Jul. 26, 2021CAD ($)$ / shares | Jul. 26, 2021USD ($) | Aug. 31, 2021USD ($) | Aug. 31, 2020USD ($) | May 31, 2021CAD ($) | May 31, 2021USD ($) | Nov. 24, 2021$ / shares | |
Subsequent Event [Line Items] | |||||||||
Proceeds from issuance of common stock | $ | $ 36,217 | $ 0 | |||||||
Private Placement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Proceeds from issuance of common stock | $ 50,000 | $ 40,953 | |||||||
Shares issued, price per share | $ 0.0025 | ||||||||
Private Placement - 2 [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Proceeds from issuance of common stock | $ 42,500 | $ 34,342 | |||||||
Shares issued, price per share | $ 0.0025 | ||||||||
Subsequent event [Member] | Private Placement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Proceeds from issuance of common stock | $ 32,500 | $ 25,715 | |||||||
Common stock issued for subscriptions received (Shares) | shares | 13,000,000 | 13,000,000 | |||||||
Shares issued, price per share | $ 0.0025 | ||||||||
Subsequent event [Member] | Private Placement - 2 [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Proceeds from issuance of common stock | $ | $ 18,750 | ||||||||
Common stock issued for subscriptions received (Shares) | shares | 10,000,000 | 10,000,000 | |||||||
Shares issued, price per share | $ 0.001875 |