Wewards (WEWA) 10-Q 4 Apr 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Feb. 29, 2016	Mar. 29, 2016
Document And Entity Information
Entity Registrant Name	FUTURE WORLD GROUP, INC.
Entity Central Index Key	1,616,156
Document Type	10-Q
Document Period End Date	Feb. 29, 2016
Amendment Flag	false
Current Fiscal Year End Date	--05-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,130,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Feb. 29, 2016	May. 31, 2015
Current Assets
Cash	$ 55,200	$ 22
Total current assets	55,200	22
Total Assets	$ 55,200	22
Current Liabilities
Accounts payable		$ 468
Due to a related party	$ 124,653
Total Liabilities	124,653	$ 468
Stockholders' Equity:
Common stock, par value $0.001; 75,000,000 shares authorized, 8,130,000 and 8,130,000 shares issued and outstanding; respectively	8,130	8,130
Additional paid in capital	27,661	27,661
Accumulated deficit	(105,244)	(36,237)
Total Stockholders' Equity (Deficit)	(69,453)	(446)
Total Liabilities and Stockholders' Equity (Deficit)	$ 55,200	$ 22

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Feb. 29, 2016	May. 31, 2015	Apr. 26, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	8,130,000	8,130,000	8,130,000
Common stock, shares outstanding	8,130,000	8,130,000	8,130,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Feb. 29, 2016	Feb. 28, 2015	Feb. 29, 2016	Feb. 28, 2015
Income Statement [Abstract]
Revenue
Operating Expenses:
General and administrative	$ 495	$ 3,545	$ 2,124	$ 17,934
Professional fees	9,146		66,883	15,514
Total operating expenses	9,641	$ 3,545	69,007	33,448
Loss from operations	$ (9,641)	$ (3,545)	$ (69,007)	$ (33,448)
Provision for Income Taxes
Net Loss	$ (9,641)	$ (3,545)	$ (69,007)	$ (33,448)
Net loss per share - basic	$ 0	$ 0	$ (0.01)	$ 0
Weighted average shares outstanding, basic & diluted	8,130,000	8,130,000	8,130,000	6,990,989

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Feb. 29, 2016	Feb. 28, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (69,007)	$ (33,448)
Changes in assets and liabilities:
Accounts payable	(468)	468
CASH FLOWS USED IN OPERATING ACTIVITIES	$ (69,475)	$ (32,980)
CASH FLOWS FROM INVESTING ACTIVITIES:
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock		$ 20,488
Loans from a related party	$ 124,653	9,673
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	124,653	30,161
NET INCREASE (DECREASE) IN CASH:	55,178	(2,819)
Cash, beginning of period	22	3,495
Cash, end of period	$ 55,200	$ 676
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Income taxes paid

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Feb. 29, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Future World Group, Inc. (the “Company”), was incorporated As a result of the transfer on October 7, 2015, there was a change of control of the Company. There is no family relationship between Future Continental, Ltd. and Lei Pei. No cash consideration was paid by Mr.Pei; the consideration was the Mr. Pei’s serving as, and continuing to serve as, the Company’s CEO. Also on October 7, 2015, the Company changed its corporate name to Future World Group, Inc. As new management has yet to cause the Company to acquire any assets or a business; we are deemed to be a “shell” company, as that term is defined pursuant to Rule 12b-2 under the Securities Exchange Act of 1934.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Feb. 29, 2016
Going Concern
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying unaudited condensed financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company has no revenues to date and an accumulated deficit of $105,244. The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

SUMMARY OF SIGNIFCANT ACCOUNTIN

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	9 Months Ended
	Feb. 29, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company 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.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Feb. 29, 2016
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT During the year ended May 31, 2014, the Company purchased a candle making machine that was never placed in service. In conjunction with the Stock Purchase Agreement dated April 26, 2015, the property was maintained by the seller. As this was not considered a disposal of an asset no expense was recognized. The $6,000 purchase price of the asset was debited to additional paid in capital.

RELATED PARTY LOANS

RELATED PARTY LOANS	9 Months Ended
	Feb. 29, 2016
Debt Disclosure [Abstract]
RELATED PARY LOANS	NOTE 5 – RELATED PARTY LOANS In the prior year a former Director loaned the Company a total of $15,304. All funds were used for general operating purposes. The loans were unsecured, non-interest bearing and due on demand. On May 11, 2015, in conjunction with the Stock Purchase Agreement the balance due of $15,304 was forgiven by the Seller and credited to additional paid in capital. During the period ended February 29, 2016, the CEO loaned the Company a total of $53,912. All funds were used for professional fees and other general operating purposes. The loans are unsecured, non-interest bearing and due on demand. During the period ended February 29, 2016, another company owned by the CEO loaned the Company a total of $70,740. Some of the funds were used for professional fees and other general operating purposes. The loans are unsecured, non-interest bearing and due on demand.

COMMON STOCK

COMMON STOCK	9 Months Ended
	Feb. 29, 2016
Equity [Abstract]
COMMON STOCK	NOTE 6 – COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On May 6, 2014, the Company issued 6,000,000 shares of common stock to a former director for cash proceeds of $6,000 at $0.001 per share. During the period from June 2014 to February 2015, the Company issued 2,130,000 shares of common stock for net cash proceeds of $20,488 at $0.01 per share. There were 8,130,000 shares of common stock issued and outstanding as of February 29, 2016.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Feb. 29, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, March 25, 2016 and through the date of the filing, and has determined that it does not have any material subsequent events to disclose in these financial statements.

SUMMARY OF SIGNIFCANT ACCOUNT13

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Feb. 29, 2016
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company 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 NATURE OF BU14

ORGANIZATION AND NATURE OF BUSINESS (Details) - USD ($)	1 Months Ended
	Apr. 30, 2015	Feb. 29, 2016	May. 31, 2015	Apr. 26, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of common shares sold through stock purchase agreement				6,000,000
Percentage of issued and outstanding stock sold through stock purchase agreement				73.80%
Common stock, shares issued		8,130,000	8,130,000	8,130,000
Common stock, shares outstanding		8,130,000	8,130,000	8,130,000
Proceeds from issuance of common stock	$ 340,000

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($)	Feb. 29, 2016	May. 31, 2015
Going Concern
Accumulated deficit	$ 105,244	$ 36,237

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details)	Apr. 26, 2015USD ($)
Property, Plant and Equipment [Abstract]
Value of unused equipment returned to seller	$ 6,000

RELATED PARTY LOANS (Details)

RELATED PARTY LOANS (Details) - USD ($)	1 Months Ended	9 Months Ended		12 Months Ended
	May. 31, 2015	Feb. 29, 2016	Feb. 28, 2015	May. 31, 2015
Related Party Transaction [Line Items]
Proceeds from loans made by related party		$ 124,653	$ 9,673
CEO [Member]
Related Party Transaction [Line Items]
Proceeds from loans made by related party		53,912
CEO [Member] | Company Owned by CEO [Member]
Related Party Transaction [Line Items]
Proceeds from loans made by related party		$ 70,740
Director [Member]
Related Party Transaction [Line Items]
Proceeds from loans made by related party				$ 15,304
Forgiveness of related party debt	$ 15,304

COMMON STOCK (Details)

COMMON STOCK (Details) - USD ($)	1 Months Ended		9 Months Ended
	Apr. 30, 2015	May. 31, 2014	Feb. 28, 2015	Feb. 29, 2016	May. 31, 2015	Apr. 26, 2015	May. 06, 2014
Class of Stock [Line Items]
Common stock, par value				$ 0.001	$ 0.001
Common stock, shares authorized				75,000,000	75,000,000
Common stock, shares issued				8,130,000	8,130,000	8,130,000
Common stock, shares outstanding				8,130,000	8,130,000	8,130,000
Proceeds from issuance of common stock	$ 340,000
Common Stock [Member]
Class of Stock [Line Items]
Stock issued during period, shares		6,000,000	2,130,000
Proceeds from issuance of common stock		$ 6,000	$ 20,488
Stock issued, price per share			$ 0.01				$ 0.001