Edgemode (EDGM) 10-Q 12 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2017	May 08, 2017
Document And Entity Information
Entity Registrant Name	WADENA CORP.
Entity Central Index Key	1,652,958
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Public Float		$ 0
Entity Common Stock, Shares Outstanding		141,525,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 9,821	$ 1,671
Total currents assets	9,821	1,671
Property and equipment, Net	2,342	2,728
Total assets	12,163	4,399
Current liabilities:
Accounts payable	558	1,443
Accounts payable - related party	126,500	120,500
Notes payable	224,000	212,000
Notes payable - related party	25,100	17,100
Total current liabilities	376,158	351,043
Total liabilities	376,158	351,043
STOCKHOLDERS' DEFICIT
Preferred stock, $0.001 par value, 500,000,000 shares authorized, none issued and outstanding none issued and outstanding
Common stock, $0.001 par value, 200,000,000 shares authorized, 141,525,000 shares issued and outstanding at March 31, 2017 and December 31, 2016 , respectively	141,525	141,525
Additional paid in capital	(110,125)	(110,125)
Accumulated deficit	(395,395)	(378,044)
Total stockholders' deficit	(363,995)	(346,644)
Total liabilities and stockholders' deficit	$ 12,163	$ 4,399

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	500,000,000	500,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	141,525,000	141,525,000
Common Stock, Shares Outstanding	141,525,000	141,525,000

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating expenses:
Depreciation	$ 386	$ 386
General and administration	16,965	21,880
Total operating expenses	17,351	22,266
Net loss	$ (17,351)	$ (22,266)
Net loss per share:
Basic and diluted	$ 0	$ 0
Weighted average shares outstanding:
Basic and diluted	141,525,000	141,525,000

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (17,351)	$ (22,266)
Adjustment to reconcile net loss to cash used in operating activities:
Depreciation expense	386	386
Net change in:
Prepaid assets		(10,000)
Accounts payable	(885)	(921)
Accounts payable - related party	6,000	4,000
CASH FLOWS USED IN OPERATING ACTIVITIES	(11,850)	(28,801)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable, related party	8,000
Proceeds from notes payable, unrelated parties	12,000	25,000
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	20,000	25,000
NET CHANGE IN CASH	8,150	(3,801)
Cash, beginning of period	1,671	6,575
Cash, end of period	9,821	2,774
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid on interest expenses
Cash paid for income taxes

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Note 1 Basis of Presentation The accompanying unaudited interim financial statements of Wadena Corp. (“Wadena” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for our interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2016, as reported in the Form 10-K of the Company, have been omitted. General The Company is a development stage company. On August 3, 2015, the Company entered into an agreement with New Benefits, Inc. to become a reseller. As a reseller the Company intends to offer membership to healthcare benefits packages for New Benefits, Inc. under its own private label. The service to be offered will connect individuals with participating physicians and other licensed healthcare practitioners (the “Providers”) in real time, via live streaming video, telephone and/or secure e-mail for diagnosis and treatment of patients over the Internet, as well as providing other types of administrative services and information. All of the participating Providers have independently contracted to be in a network operated by New Benefits, Inc. Wadena does not provide any physicians’ or other Providers’ services itself. The Company’s services enable access to Providers who have agreed to provide patient care to customers using the Company’s system. The Company’s activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the Company’s business plan.

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Going Concern	Note 2 Going Concern These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At March 31, 2017 the Company had not yet achieved profitable operations, has accumulated losses of $395,395 and expects to incur further losses in the development of its business, all of which raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 3 Related Party Transactions The related party advances are due to the former director and President of the Company for funds advanced. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2017, the advances totaled $6,300. During the period ended March 31, 2017, the Company received an advance in the amount of $8,000 from the President of the Company. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2017, the advances totaled $18,800. Effective March 1, 2012, the Company agreed to pay the President of the Company $4,000 per month for management services if funds are available or to accrue such amount if funds are not available. Effective July 1, 2016, the Company agreed to pay the President of the Company $2,000 per month for management services if funds are available or to accrue such amount if funds are not available. Accounts payable – related party are the fees earned but not yet paid of $126,500 and $120,500 at March 31, 2017 and December 31, 2016, respectively. Three months ended March 31, 2017 Three months ended March 31, 2016 Management fees $ 6,000 $ 12,000

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Notes Payable	Note 4 Notes Payable During the period ended March 31, 2017, the Company received loans in an aggregate of $12,000 from one shareholder. This loan, in addition to the loans previously entered into by the Company, are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2017, the loans totaled $224,000.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments	Note 5 Commitments On April 16, 2016, Robert Sawatsky, President of the Company, resigned as Corporate Secretary and Pauline Kour Sumel was appointed in his place. Ms. Sumel will be paid a consulting fee of $1,000 per month, commencing July 1, 2016.

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Three months ended March 31, 2017 Three months ended March 31, 2016 Management fees $ 6,000 $ 12,000

Summary of Significant Accounti

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Accumulated losses	$ 395,395	$ 378,044

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Related Party Transactions [Abstract]
Management fees	$ 6,000	$ 12,000

Related Party Transactions (D14

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended
	Mar. 31, 2013	Mar. 31, 2017	Dec. 31, 2016
Accounts payable - related party are the fees earned but not yet paid		$ 120,500	$ 120,500
President [Member]
Management Services to President per month	$ 4,000

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property and equipment, net	$ 2,342	$ 2,728

Property and Equipment, net (16

Property and Equipment, net (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation	$ 386	$ 386

Commitments (Details Narrative)

Commitments (Details Narrative)	1 Months Ended
	Jul. 31, 2016USD ($)
Pauline Kour Sumel
Consulting Fees	$ 1,000