Wally World Media (WLYW) 10-Q/A 22 Aug 24 2024 Q2 Quarterly report (amended) Financial data

Cover

Cover - shares	6 Months Ended
	Mar. 31, 2024	Aug. 19, 2024
Cover [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	This Amendment No. 1 to the Quarterly Report on Form 10-Q/A (the “Amendment”) amends the Quarterly Report on Form 10-Q of Wally World Media, Inc. (the “Company”) for the quarter ended March 31, 2024 (the “Original Filing” or the “Original 10-Q”), that was originally filed with the U.S. Securities and Exchange Commission on May 20, 2024. As previously disclosed in the Original Filing, because of the dismissal of BF Borgers CPA PC as the Company’s independent registered public accounting firm, described in greater detail in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of the Company’s Original Filing, the unaudited interim financial information presented in the Original 10-Q was not subject to a Statement of Auditing Standards No. 100, or SAS 100, review by an outside independent registered public accounting firm as required by the rules of the Securities and Exchange Commission, or the SEC, and the Original 10-Q was therefore considered incomplete. On June 12, 2024, the Board of Directors of the Company approved the engagement of Astra Audit & Advisory, LLC, to serve as the Company’s new independent registered public accounting firm.The Amendment is being filed to disclose that Astra Audit & Advisory, LLC, has completed its SAS 100 review of the unaudited interim financial information presented in the Original 10-Q. In addition, the Company has updated the following items of the Original Filing: (i) Item 1 of Part I “Financial Information,” (ii) Item 2 of Part I, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and (iii) Item 6 of Part II, “Exhibits”, and we have also updated the signature page, the certifications of our Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2, and 32.1, and our financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibits 101.   Except as described above, the Amendment does not modify or update the disclosures presented in, or exhibits to, the Original Filing in any way. Those sections of the Original Filing that are unaffected by the Amendment are included herein for the readers convenience. The Amendment continues to speak as of the date of the Original Filing. Furthermore, the Amendment does not reflect events occurring after the filing of the Original Filing. Accordingly, the Amendment should be read in conjunction with the Original Filing, as well as the Company’s other filings made with the SEC subsequent to the Original Filing.
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--09-30
Entity File Number	333-185694
Entity Registrant Name	WALLY WORLD MEDIA, INC.
Entity Central Index Key	0001555214
Entity Tax Identification Number	45-5370930
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	7121 West Craig Road
Entity Address, Address Line Two	#113-38
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89129
City Area Code	(702)
Local Phone Number	890-5299
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		330,483,033

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Current Assets:
Total current assets
Total Assets
Current Liabilities:
Accounts payable	20,156	495
Advances from related parties	92,984	90,810
Total current liabilities	113,140	91,305
Total Liabilities	113,140	91,305
Stockholders’ Deficit:
Preferred stock, $0.0001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding.
Common stock, $0.0001 par value; 500,000,000 shares authorized, 330,483,033 shares issued and outstanding.	33,048	33,048
Additional paid-in capital	15,705,814	15,705,814
Accumulated deficit	(15,852,002)	(15,830,167)
Total stockholders’ deficit	(113,140)	(91,305)
Total Liabilities and Stockholders’ Deficit

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical)	Mar. 31, 2024 $ / shares shares
Statement of Financial Position [Abstract]
Preferred stock, par value | $ / shares	$ 0.0001
Preferred stock, shares authorized	50,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common stock, par value | $ / shares	$ 0.0001
Common stock, shares authorized	500,000,000
Common stock, shares issued	330,483,033
Common stock, shares outstanding	330,483,033

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue
Operating Expenses:
General and administrative expenses	21,331	8,089	21,835	18,537
Total operating expenses	21,331	8,089	21,835	18,537
(Loss) from Operations	(21,331)	(8,089)	(21,835)	(18,537)
Provision for income taxes
Net (Loss)	$ (21,331)	$ (8,089)	$ (21,835)	$ (18,537)
Net Loss per share (basic)	$ 0	$ 0	$ 0	$ 0
Net Loss per share (diluted)	$ 0	$ 0	$ 0	$ 0
Weighted Average Shares Outstanding - Basic	330,483,033	330,483,033	330,483,033	330,483,033
Weighted Average Shares Outstanding - Diluted	330,483,033	330,483,033	330,483,033	330,483,033

Statements of Stockholders' Def

Statements of Stockholders' Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Sep. 30, 2022		$ 33,048	$ 15,705,814	$ (15,799,048)	$ (60,186)
Balance, shares at Sep. 30, 2022		330,483,033
Net (loss)				(18,537)	(18,537)
Balance at Mar. 31, 2023		$ 33,048	15,705,814	(15,817,585)	(78,723)
Balance, shares at Mar. 31, 2023		330,483,033
Balance at Dec. 31, 2022		$ 33,048	15,705,814	(15,809,496)	(70,634)
Balance, shares at Dec. 31, 2022		330,483,033
Net (loss)				(8,089)	(8,089)
Balance at Mar. 31, 2023		$ 33,048	15,705,814	(15,817,585)	(78,723)
Balance, shares at Mar. 31, 2023		330,483,033
Balance at Sep. 30, 2023		$ 33,048	15,705,814	(15,830,167)	(91,305)
Balance, shares at Sep. 30, 2023		330,483,033
Net (loss)				(21,835)	(21,835)
Balance at Mar. 31, 2024		$ 33,048	15,705,814	(15,852,002)	(113,140)
Balance, shares at Mar. 31, 2024		330,483,033
Balance at Dec. 31, 2023		$ 33,048	15,705,814	(15,830,671)	(91,809)
Balance, shares at Dec. 31, 2023		330,483,033
Net (loss)				(21,331)	(21,331)
Balance at Mar. 31, 2024		$ 33,048	$ 15,705,814	$ (15,852,002)	$ (113,140)
Balance, shares at Mar. 31, 2024		330,483,033

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net (Loss)	$ (21,835)	$ (18,537)
Changes in operating assets and liabilities:
Prepaid expense		(836)
Accounts payable	19,661	549
Net cash (used for) operating activities	(2,174)	(18,824)
Cash Flows from Investing Activities
Net cash (used for) investing activities
Cash Flows from Financing Activities
Advances from related party	2,174	18,824
Net cash provided by financing activities	2,174	18,824
Net increase (decrease) in cash
Cash at the beginning of the period
Cash at the end of the period
Supplemental Disclosure of Cash Flow Information
Cash paid for interest
Cash paid for taxes

Organization and Description of

Organization and Description of Business	6 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of Business Wally World Media, Inc. (“the Company”, “WLYW”) was incorporated in the State of Nevada on May 17, 2012. The Company was initially a start-up business, engaged primarily in social media software and mobile app development. The Company developed a social media website that we refer to as “YouPop.” Our “YouPop” platform launched for public use in April 2013. On March 19, 2014, we launched reShoot™, a free mobile video camera app for Apple’s iPhone and iPad. reShoot features patent-pending “on the fly” video editing technology to rewind and re-shoot unwanted portions of video. On July 31, 2014, we launched the Emoji Cam Photo & Video Camera app for Apple’s iPhone and iPad. None of our applications or business ventures were met with any notable commercial success. The Company has been dormant since December 2015. On June 29, 2021, as the result of a custodianship proceeding in the Eighth Judicial District Court of Clark County, Nevada, Case Number: A-21-834721-P, Shareholders First LLC (“Custodian”) was appointed custodian of Wally World Media, Inc. On the same date Custodian appointed Grant Casey as the Company’s President, Chief Executive Officer, Treasurer, Secretary, Chief Financial Officer and Chairman of the Board of Directors, and appointed Geoffrey Chan as a Director for the Company. On June 30, 2022, the Eighth Judicial District Court of Nevada approved the actions taken by Shareholders First LLC during the custodianship proceeding, and issued an Order Discharging Custodian and Terminating Custodianship of Wally World Media, Inc. The Company’s fiscal year-end is September 30. Critical accounting policies and estimates Our unaudited financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. We continually evaluate our estimates and judgments, our commitments to strategic alliance partners and the timing of the achievement of collaboration milestones. We base our estimates and judgments on historical experience and other factors that we believe to be reasonable under the circumstances. All estimates, whether or not deemed critical, affect reported amounts of assets, liabilities, revenues and expenses, as well as disclosures of contingent assets and liabilities. These estimates and judgments are also based on historical experience and other factors that are believed to be reasonable under the circumstances. Materially different results can occur as circumstances change and additional information becomes known, even for estimates and judgments that are not deemed critical. The Company is a development stage enterprise devoting substantial efforts to establishing a new business, financial planning, raising capital, and research into products which may become part of the Company’s product portfolio. The Company has not realized significant sales through since inception. A development stage company is defined as one in which all efforts are devoted substantially to establishing a new business and, even if planned principal operations have commenced, revenues are insignificant.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB ASC Management’s Representation of Interim Financial Statements The accompanying unaudited financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto at September 30, 2023 as presented in the Company’s Annual Report on Form 10-K. Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of March 31, 2024, the Company had no cash and an accumulated deficit of $ 15,852,002 Because the Company currently has no cash, a history of recurring operating losses, and does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, there is substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company was being funded by Grant Casey, a related party, who extended interest-free demand loans to the Company. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. As of March 31, 2024 and September 30, 2023, the Company had no Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by FASB ASC Topic 260, “ Earnings per Share Recent Accounting Pronouncements Management believes there are no recent accounting pronouncements that impact the Company’s operations and financial reporting.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 3. Related Party Transactions During the six months ended March 31, 2024, the Company’s Chief Executive Officer advanced $ 2,174 92,984 90,810

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit)	6 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders’ Equity (Deficit)	Note 4. Stockholders’ Equity (Deficit) Preferred stock The Company authorized 50,000,000 0.0001 Common stock The Company has authorized 500,000,000 0.0001 330,483,033

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5. Commitments and Contingencies During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with FASB ASC 450-20-50, Contingencies . The Company evaluates its exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. The Company did not have any outstanding contractual commitments or obligations as of March 31, 2024.

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 6. Subsequent Events Management has evaluated significant events through the date of these financial statements and determined that none require disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB ASC
Management’s Representation of Interim Financial Statements	Management’s Representation of Interim Financial Statements The accompanying unaudited financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto at September 30, 2023 as presented in the Company’s Annual Report on Form 10-K.
Going Concern	Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of March 31, 2024, the Company had no cash and an accumulated deficit of $ 15,852,002 Because the Company currently has no cash, a history of recurring operating losses, and does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, there is substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company was being funded by Grant Casey, a related party, who extended interest-free demand loans to the Company. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. As of March 31, 2024 and September 30, 2023, the Company had no
Income taxes	Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit.
Net Loss per Share	Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by FASB ASC Topic 260, “ Earnings per Share
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management believes there are no recent accounting pronouncements that impact the Company’s operations and financial reporting.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Accumulated deficit	$ 15,852,002	$ 15,830,167
Cash	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Related Party Transaction [Line Items]
Advances from related parties	$ 2,174	$ 18,824
Due to related party	92,984		$ 90,810
Chief Executive Officer [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Advances from related parties	2,174
Due to related party	$ 92,984		$ 90,810

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit) (Details Narrative) - $ / shares	Mar. 31, 2024	Sep. 30, 2023
Equity [Abstract]
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000
Common stock, par value	$ 0.0001
Common stock, shares issued	330,483,033
Common stock, shares outstanding	330,483,033