Quest Water Global (QWTR) 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 13, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	333-168895
Entity Registrant Name	QUEST WATER GLOBAL, INC.
Entity Central Index Key	0001487091
Entity Tax Identification Number	27-1994359
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	Suite 209 – 828 Harbourside Drive
Entity Address, City or Town	North Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V7P 3R9
City Area Code	(888)
Local Phone Number	897-5536
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		131,903,029

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash	$ 42
Prepaids	4,858	1,094
Total current assets	4,900	1,094
Equipment, net (Note 4)	792	1,167
Total assets	5,692	2,261
Current liabilities
Accounts payable and accrued liabilities	50,726	37,698
Investment in partnership, restated (Note 3)	45,064	33,980
Total liabilities	1,723,586	1,275,132
Preferred stock, 5,000,000 shares authorized, $0.000001 par value 2 shares issued and outstanding	1	1
Common stock, 500,000,000 shares authorized, $0.000001 par value 131,903,029 issued and outstanding (December 31, 2022 – 131,903,029)	132	132
Additional paid-in capital	10,000,348	10,000,348
Deficit	(11,718,375)	(11,273,352)
Total stockholders’ deficit	(1,717,894)	(1,272,871)
Total liabilities and stockholders’ deficit	5,692	2,261
Related Company [Member]
Current liabilities
Due to related parties	42,303	49,841
Related Party [Member]
Current liabilities
Due to related parties	$ 1,585,493	$ 1,153,613

Condensed Consolidated Interi_2

Condensed Consolidated Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.000001	$ 0.000001
Preferred stock, shares issued	2	2
Preferred stock, shares outstanding	2	2
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.000001	$ 0.000001
Common stock, shares issued	131,903,029	131,903,029
Common stock, shares outstanding	131,903,029	131,903,029

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Expenses
Automotive	$ 2,212	$ 2,417	$ 6,819	$ 7,732
Depreciation	125		375
Management fees	123,750	112,500	371,250	337,500
Office and miscellaneous	1,290	5	4,933	3,256
Professional fees	3,209	12,921	16,772	40,078
Rent	5,514	5,470	16,484	16,259
Telephone	824	762	2,561	2,602
Transfer agent and filing fees	3,574	4,120	14,744	18,124
Stock based compensation		801,102		801,102
Total expenses	140,498	939,297	433,938	1,226,653
Loss before other income	(140,498)	(939,297)	(433,938)	(1,226,653)
Other income (expense)
Decrease in equity of investment in partnership	(2,332)	(8,849)	(11,085)	(16,565)
Net loss and comprehensive loss	$ (142,830)	$ (948,146)	$ (445,023)	$ (1,243,218)
Net loss per share, basic	$ (0.001)	$ (0.008)	$ (0.003)	$ (0.013)
Net loss per share, diluted	$ (0.001)	$ (0.008)	$ (0.003)	$ (0.013)
Weighted average number of shares outstanding, basic	131,903,029	120,726,441	131,903,029	97,148,790
Weighted average number of shares outstanding, diluted	131,903,029	120,726,441	131,903,029	97,148,790

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Stockholder's Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Dec. 31, 2021	$ 1	$ 85	$ 6,332,748	$ (10,061,032)	$ (3,728,199)
Beginning balance, shares at Dec. 31, 2021	2	85,164,569
Net loss for the period				(1,243,218)	(1,243,218)
Shares issued for debt at $0.065		47	3,037,953		$ 3,038,000
Shares issued for debt at $0.065, shares					46,738,460
Stock based compensation			801,102		$ 801,102
Ending balance at Sep. 30, 2022	$ 1	$ 132	10,171,803	(11,304,250)	(1,132,315)
Ending balance, shares at Sep. 30, 2022	2	131,903,029
Beginning balance at Dec. 31, 2022	$ 1	$ 132	10,000,348	(11,273,352)	(1,272,871)
Beginning balance, shares at Dec. 31, 2022	2	131,903,029
Net loss for the period				(445,023)	(445,023)
Ending balance at Sep. 30, 2023	$ 1	$ 132	$ 10,000,348	$ (11,718,375)	$ (1,717,894)
Ending balance, shares at Sep. 30, 2023	2	131,903,029

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Stockholder's Deficit (Unaudited) (Parenthetical)	Sep. 30, 2022 $ / shares
Statement of Stockholders' Equity [Abstract]
Shares issued, price	$ 0.065

Condensed Consolidated Interi_6

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net loss for the period	$ (142,830)	$ (948,146)	$ (445,023)	$ (1,243,218)
Decrease in equity of partnership investment	2,332	8,849	11,085	16,565
Depreciation			375	208
Shares issued for debt				3,038,000
Stock based compensation		801,102		801,102
Changes in operating assets and liabilities:
Prepaids			(3,764)	(4,453)
Accounts payable and accrued liabilities			13,028	12,743
Due to related company			(7,539)	(21,358)
Due to related parties			431,880	(2,602,262)
Net cash provided by (used in) operating activities			42	(2,673)
Cash Flows from Investing Activities:
Equipment purchase				(1,500)
Net cash used in investing activities				(1,500)
Change in cash			42	(4,173)
Cash, beginning of period				4,227
Cash, end of period	$ 42	$ 54	42	54
Supplemental disclosures:
Interest paid
Income tax paid

Nature of Operations and Contin

Nature of Operations and Continuance of Business	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Continuance of Business	1. Nature of Operations and Continuance of Business Quest Water Global, Inc. (the “Company”) was incorporated on February 25, 2010, under the laws of the State of Delaware. The Company is an innovative water technology company that provides solutions to water scarce regions. The Company’s operations to date have been limited primarily to capital formation, organization, and development of its business plan. These condensed consolidated interim 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. As at September 30, 2023, the Company has a working capital deficiency of $ 1,718,686 1,585,493 11,718,375

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies (a) Basis of Presentation and Principles of Consolidation These condensed consolidated interim financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in US dollars. These condensed consolidated financial statements include the accounts of the Company; the Company’s wholly-owned subsidiary Quest Water Solutions, Inc., a company incorporated under the laws of the State of Nevada (“Quest Nevada”); AQUAtap Global, Inc., a company incorporated under the laws of the State of Wyoming; and Quest Nevada’s wholly-owned subsidiary, Quest Water Solutions Inc., a company incorporated under the laws of the Province of British Columbia, Canada. All inter-company balances and transactions have been eliminated on consolidation. (b) Interim Financial Statements The accompanying condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes for the fiscal year ended December 31, 2022. In the opinion of management, the accompanying condensed consolidated interim 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 these condensed consolidated 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. (c) Foreign Currency Translation The Company’s functional currency is US dollars. Transactions in foreign currencies are translated into the currency of measurement at the exchange rates in effect on the transaction date. Monetary balance sheet items expressed in foreign currencies are translated into US dollars at the exchange rates in effect at the balance sheet date. The resulting exchange gains and losses are recognized in income. The Company’s integrated foreign subsidiaries are financially or operationally dependent on the Company. The Company uses the temporal method to translate the accounts of its integrated operations into US dollars. Monetary assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average rates for the period, except for amortization, which is translated on the same basis as the related asset. The resulting exchange gains or losses are recognized in income. (d) 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.

Investment in and Due to Relate

Investment in and Due to Related Company	9 Months Ended
	Sep. 30, 2023
Investments, All Other Investments [Abstract]
Investment in and Due to Related Company	3. Investment in and Due to Related Company During the year ended December 31, 2019, the Company invested $ 7,600 38 29,170 43,592 11,085 16,565 The due to related company amounts pertain to funds received on behalf of AQUAtap relating to rights agreements for water units. As at September 30, 2023, a balance of $ 42,303

Equipment

Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Equipment	4. Equipment Equipment is depreciated over its useful life. Schedule of Equipment Cost Depreciation Net Computer 3 years $ 1,500 $ 708 $ 792

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	5. Related Party Transactions (a) As at September 30, 2023, a total of $ 711,845 490,714 (b) As at September 30, 2023, a total of $ 873,648 662,899 (c) For the nine months ended September 30, 2023, the Company incurred a total of $ 371,250 337,500 (d) For the nine months ended September 30, 2023, the Company incurred $ 15,750 15,750 (e) On July 22, 2022, the Company issued 46,738,460 0.065 3,038,000

Common Shares

Common Shares	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Common Shares	6. Common Shares On July 21, 2022, the authorized capital of the Company was increased from 95,000,000 500,000,000 0.000001 On July 22, 2022, the Company converted an aggregate of $ 3,038,000 46,738,460 0.065 At September 30, 2023, the Company had 131,903,029 131,903,029 Basic and diluted loss per share The calculation of the basic and diluted loss per share for the nine months ended September 30, 2023 was based on the loss attributable to common shareholders of $ 445,023 1,243,218 131,903,029 97,148,790 At September 30, 2023, there were 6,300,000

Share Based Payments

Share Based Payments	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share Based Payments	7. Share Based Payments Stock Options The Company adopted a stock option plan in May 2012 (the “Plan”) under which it is authorized to grant options to directors, officers, employees and consultants enabling them to acquire up to a maximum of 10 10 Stock option transactions are summarized as follows: Summary of Stock Option Transactions Number of Weighted Average Options Exercise Price Balance, December 31, 2021 - $ - Granted 8,500,000 0.10 Rescinded (2,200,000 ) 0.10 Exercised - - Balance, December 31, 2022 and September 30, 2023 6,300,000 $ 0.10 Exercisable at September 30, 2023 6,300,000 $ 0.10 The options outstanding and exercisable at September 30, 2023 were granted effective July 20, 2022 and have a 5 0.10 3.79

Operating Segment

Operating Segment	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Operating Segment	8. Operating Segment The Company has only one

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	9. Subsequent Event Subsequent to September 30, 2023, the Company entered into a partnership with Yonga Industries (Pty) Ltd., Yorown Energy (Pty) Ltd. and Kalo Products to form AQUAtap Oasis South Africa (PTY) Ltd. The Company holds a 49

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	(a) Basis of Presentation and Principles of Consolidation These condensed consolidated interim financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in US dollars. These condensed consolidated financial statements include the accounts of the Company; the Company’s wholly-owned subsidiary Quest Water Solutions, Inc., a company incorporated under the laws of the State of Nevada (“Quest Nevada”); AQUAtap Global, Inc., a company incorporated under the laws of the State of Wyoming; and Quest Nevada’s wholly-owned subsidiary, Quest Water Solutions Inc., a company incorporated under the laws of the Province of British Columbia, Canada. All inter-company balances and transactions have been eliminated on consolidation.
Interim Financial Statements	(b) Interim Financial Statements The accompanying condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes for the fiscal year ended December 31, 2022. In the opinion of management, the accompanying condensed consolidated interim 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 these condensed consolidated 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.
Foreign Currency Translation	(c) Foreign Currency Translation The Company’s functional currency is US dollars. Transactions in foreign currencies are translated into the currency of measurement at the exchange rates in effect on the transaction date. Monetary balance sheet items expressed in foreign currencies are translated into US dollars at the exchange rates in effect at the balance sheet date. The resulting exchange gains and losses are recognized in income. The Company’s integrated foreign subsidiaries are financially or operationally dependent on the Company. The Company uses the temporal method to translate the accounts of its integrated operations into US dollars. Monetary assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average rates for the period, except for amortization, which is translated on the same basis as the related asset. The resulting exchange gains or losses are recognized in income.
Recent Accounting Pronouncements	(d) 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.

Equipment (Tables)

Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Equipment	Equipment is depreciated over its useful life. Schedule of Equipment Cost Depreciation Net Computer 3 years $ 1,500 $ 708 $ 792

Share Based Payments (Tables)

Share Based Payments (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Transactions	Stock option transactions are summarized as follows: Summary of Stock Option Transactions Number of Weighted Average Options Exercise Price Balance, December 31, 2021 - $ - Granted 8,500,000 0.10 Rescinded (2,200,000 ) 0.10 Exercised - - Balance, December 31, 2022 and September 30, 2023 6,300,000 $ 0.10 Exercisable at September 30, 2023 6,300,000 $ 0.10

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital deficiency	$ 1,718,686
Liability of principal stockholders	1,585,493
Accumulated deficit	$ 11,718,375	$ 11,273,352

Investment in and Due to Rela_2

Investment in and Due to Related Company (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2019
Loss on investment	$ 11,085	$ 16,565
Related Company [Member]
Due to related company	42,303		$ 49,841
AQUAtap [Member]
Investments				$ 7,600
Equity method investment, ownership percentage				38%
Loss on investment	$ 29,170	$ 43,592

Schedule of Equipment (Details)

Schedule of Equipment (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Equipment, net	$ 792	$ 1,167
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life	3 years
Equipment, cost	$ 1,500
Equipment, depreciation	708
Equipment, net	$ 792

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Jul. 22, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Management fee		$ 123,750	$ 112,500	$ 371,250	$ 337,500
Shares Issued, Price Per Share			$ 0.065		$ 0.065
President [Member]
Related Party Transaction [Line Items]
Due to related parties		711,845		711,845		$ 490,714
Vice President [Member]
Related Party Transaction [Line Items]
Due to related parties		$ 873,648		873,648		$ 662,899
Payment of rent				15,750	$ 15,750
President and Vice President [Member]
Related Party Transaction [Line Items]
Management fee				$ 371,250	$ 337,500
Stock Issued During Period, Shares, New Issues	46,738,460
Shares Issued, Price Per Share	$ 0.065
Stock Issued During Period, Value, New Issues	$ 3,038,000

Common Shares (Details Narrativ

Common Shares (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Jul. 22, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jul. 21, 2022	Jul. 20, 2022
Defined Benefit Plan Disclosure [Line Items]
Common stock, shares authorized		500,000,000		500,000,000		500,000,000	500,000,000	95,000,000
Common stock, par value		$ 0.000001		$ 0.000001		$ 0.000001	$ 0.000001
Shares issued, price per share			$ 0.065		$ 0.065
Common stock, shares outstanding		131,903,029		131,903,029		131,903,029
Loss attributable to common shareholders				$ 445,023	$ 1,243,218
Weighted average number of shares outstanding		131,903,029	120,726,441	131,903,029	97,148,790
Antidilutive securities, shares				6,300,000
President and Vice President [Member]
Defined Benefit Plan Disclosure [Line Items]
Debt value converted	$ 3,038,000
Number of shares issued in debt conversion	46,738,460
Shares issued, price per share	$ 0.065

Summary of Stock Option Transac

Summary of Stock Option Transactions (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of options outstanding, beginning balance | shares
Weighted average exercise price, beginning | $ / shares
Number of options outstanding, granted | shares	8,500,000
Weighted average exercise price, granted | $ / shares	$ 0.10
Number of options outstanding, rescinded | shares	(2,200,000)
Weighted average exercise price, rescinded | $ / shares	$ 0.10
Number of options outstanding, exercised | shares
Weighted average exercise price, exercised | $ / shares
Number of options outstanding, ending balance | shares	6,300,000
Weighted average exercise price, Ending | $ / shares	$ 0.10
Number of options exercisable | shares	6,300,000
Weighted average exercise price, exercisable | $ / shares	$ 0.10

Share Based Payments (Details N

Share Based Payments (Details Narrative) - $ / shares		9 Months Ended
	Jul. 20, 2022	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Issued and outstanding common stock percentage		10%
Option granted maximum term years		10 years
Remaining life	5 years	3 years 9 months 14 days
Exercise price		$ 0.10

Operating Segment (Details Narr

Operating Segment (Details Narrative)	9 Months Ended
	Sep. 30, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	1

Subsequent Event (Details Narra

Subsequent Event (Details Narrative)	Sep. 30, 2023
AQUAtap Oasis South Africa (PTY) Ltd [Member]
Equity method investment, ownership percentage	49%