Edgemode (EDGM) 10-K 30 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 02, 2018
Document And Entity Information
Entity Registrant Name	WADENA CORP.
Entity Central Index Key	1,652,958
Document Type	10-K
Document Period End Date	Dec. 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	$ 30,000
Entity Common Stock, Shares Outstanding		141,525,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash		$ 1,671
Total currents assets		1,671
Property and equipment, Net	1,184	2,728
Total assets	1,184	4,399
Current liabilities:
Accounts payable	4,879	1,443
Accounts payable - related party	144,500	120,500
Notes payable	224,000	212,000
Notes payable - related party	38,488	17,100
Total current liabilities	411,867	351,043
Total liabilities	411,867	351,043
STOCKHOLDERS' DEFICIT
Preferred stock, $0.001 par value, 500,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 200,000,000 shares authorized, 141,525,000 shares issued and outstanding at December 31, 2017 and 2016, respectively	141,525	141,525
Additional paid in capital	(110,125)	(110,125)
Accumulated deficit	(442,083)	(378,044)
Total stockholders' deficit	(410,683)	(346,644)
Total liabilities and stockholders' deficit	$ 1,184	$ 4,399

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 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

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating expenses:
Depreciation	$ 1,544	$ 1,544
General and administration	62,495	94,034
Total operating expenses	64,039	95,578
Net loss	$ (64,039)	$ (95,578)
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

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (64,039)	$ (95,578)
Adjustment to reconcile net loss to cash used in operating activities:
Depreciation expense	1,544	1,544
Net change in:
Accounts payable	3,436	(4,670)
Accounts payable - related party	24,000	28,000
CASH FLOWS USED IN OPERATING ACTIVITIES	(35,059)	(70,704)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable, related party	22,200	10,800
Proceeds from notes payable, unrelated parties	12,000	55,000
Repayments on notes payable, related party	(812)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	33,388	65,800
NET CHANGE IN CASH	(1,671)	(4,904)
Cash, beginning of period	1,671	6,575
Cash, end of period		1,671
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid on interest expenses
Cash paid for income taxes

STATEMENTS OF STOCKHOLDERS' DEF

STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance at Dec. 31, 2015	$ 141,525	$ (110,125)	$ (282,466)	$ (251,066)
Beginning Balance, in Shares at Dec. 31, 2015	141,525,000
Net Loss			(95,578)	(95,578)
Ending Balance at Dec. 31, 2016	$ 141,525	(110,125)	(378,044)	(346,644)
Ending Balance, in Shares at Dec. 31, 2016	141,525,000
Net Loss			(64,039)	(64,039)
Ending Balance at Dec. 31, 2017	$ 141,525	$ (110,125)	$ (442,083)	$ (410,683)
Ending Balance, in Shares at Dec. 31, 2017	141,525,000

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Note 1 Basis of Presentation General The Company does not have a current operating business. On August 3, 2015, the Company entered into an agreement with New Benefits, Inc. to become a reseller. As a reseller the Company intended to offer membership to healthcare benefits packages for New Benefits, Inc. under its own private label. The Company is no longer in this business. As of the date of this filing, the Company has not been successful in finding a viable business plan. 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 Summary of Significant Accounting Policies The financial statements have, in management's opinion, been properly prepared within the framework of the significant accounting policies summarized below: 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 December 31, 2017, the Company had not yet achieved profitable operations, has accumulated losses of $442,083 since its inception, has working capital deficit of $411,687, 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. Income Taxes The Company uses the assets and liability method of accounting for income taxes. Under the assets and liability method deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Basic and Diluted Loss Per Share Basic loss per share is computed using the weighted average number of shares outstanding during the period. Diluted loss per share has not been provided as it would be anti-dilutive. Foreign Currency Translation The Company's functional currency is United States ("U.S.") dollars as substantially all of the Company's operations use this denomination. The Company uses the U.S. dollar as its reporting currency. Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in Other Income (Expenses) on the Statement of Operations. Use of Estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original purchase maturity of three months or less to be cash equivalents. Property and Equipment Property and equipment is carried at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the useful lives as follows: Furniture and fixtures 7 years Equipment 5 years Fair Value of Financial Instruments The carrying value of cash, accounts payable and accrued liabilities and related party loan approximate their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting standards will have a material effect on the accompanying financial statements.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 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 December 31, 2016, the advances totaled $17,100. During the year ended December 31, 2017, the Company received advances in the aggregate amount of $22,200 from the President of the Company. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of December 31, 2017, the advances totaled $38,488. 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 $144,500 and $120,500 at December 31, 2017 and December 31, 2016, respectively. Year ended December 31, 2017 Year ended December 31, 2016 Management fees $ 24,000 $ 36,000

Property and Equipment, net

Property and Equipment, net	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Note 4 Property and Equipment, net Cost and accumulated depreciation of property and equipment as of December 31, 2017 and December 31, 2016 are as follows: December 31, 2017 December 31, 2016 $ $ Computers 3,443 3,443 Furniture and fixtures 6,000 6,000 Total 9,443 9,443 Less: Accumulated depreciation (8,259) (6,715) Property and equipment, net 1,184 2,728 Depreciation expense charged to operations was $1,544 and $1,544 for the years ended December 31, 2017 and 2016, respectively.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Notes Payable	Note 5 Notes Payable During the year ended December 31, 2017, the Company received loans in an aggregate of $12,000 from a shareholder. These loans, 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 December 31, 2017, the loans totaled $224,000.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 6 Income Taxes A reconciliation of income tax provision to the provision that would be recognized under the statutory rates is as follows: December 31, 2017 December 31, 2016 $ $ Deferred tax asset attributable to: Net operating loss 21,000 32,000 Valuation allowance (21,000) (32,000) Net - - The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows: December 31, 2017 December 31 2016 $ $ Refund attributable to operating loss 150,000 128,000 Impact of change in tax rate (57,500) Valuation allowance (92,500) (128,000) Net provision - - The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows: The amount taken into income as deferred tax assets must reflect that portion of the income tax loss carry forwards that is more likely-than-not to be realized from future operations. The Company has chosen to provide an allowance of 100% against all available income tax loss carry forwards, regardless of their time of expiry. As of December 31, 2017, the Company saw a decrease of approximately $57,500 in deferred tax assets from income tax loss carry forwards. The significant decline in the carry forwards was due the passage of the Tax Cuts and Jobs Act on December 20, 2017 that reduced effective tax rates for future periods to 21% from 34%. The decline in value of the income tax loss carry forwards has no impact on our statement of operations. No provision for income taxes has been provided in these financial statements due to the net loss. At December 31, 2017, the Company has net operating loss carry forwards, which expire commencing in 2031, totaling approximately $442,000, the benefit of which has not been recorded in the financial statements.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 7 Subsequent Events In the month of January 2018, the Company received advances in the aggregate amount of $4,879 from the President of the Company to cover December 31, 2017 expenses. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As the Bitcoin related merger prospect did not move forward Mr. J. Jacob Isaacs was reappointed president of the company on January 11, 2018.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Going Concern	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 December 31, 2017, the Company had not yet achieved profitable operations, has accumulated losses of $442,083 since its inception, has working capital deficit of $411,687, 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.
Income Taxes	Income Taxes The Company uses the assets and liability method of accounting for income taxes. Under the assets and liability method deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share Basic loss per share is computed using the weighted average number of shares outstanding during the period. Diluted loss per share has not been provided as it would be anti-dilutive.
Foreign Currency Translation	Foreign Currency Translation The Company's functional currency is United States ("U.S.") dollars as substantially all of the Company's operations use this denomination. The Company uses the U.S. dollar as its reporting currency. Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in Other Income (Expenses) on the Statement of Operations.
Use of Estimates	Use of Estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original purchase maturity of three months or less to be cash equivalents.
Property and Equipment	Property and Equipment Property and equipment is carried at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the useful lives as follows: Furniture and fixtures 7 years Equipment 5 years
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of cash, accounts payable and accrued liabilities and related party loan approximate their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting standards will have a material effect on the accompanying financial statements.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Year ended December 31, 2017 Year ended December 31, 2016 Management fees $ 24,000 $ 36,000

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Cost and accumulated depreciation of property and equipment as of December 31, 2017 and December 31, 2016 are as follows: December 31, 2017 December 31, 2016 $ $ Computers 3,443 3,443 Furniture and fixtures 6,000 6,000 Total 9,443 9,443 Less: Accumulated depreciation (8,259) (6,715) Property and equipment, net 1,184 2,728

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Income Tax Provision at Statutory rates	A reconciliation of income tax provision to the provision that would be recognized under the statutory rates is as follows: December 31, 2017 December 31, 2016 $ $ Deferred tax asset attributable to: Net operating loss 21,000 32,000 Valuation allowance (21,000) (32,000) Net - -
Schedule of Cumulative Tax Effect Deferred Tax Amount	The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows: December 31, 2017 December 31 2016 $ $ Refund attributable to operating loss 150,000 128,000 Impact of change in tax rate (57,500) Valuation allowance (92,500) (128,000) Net provision - -

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accumulated losses	$ 442,083	$ 378,044
Working Capital Deficit	$ 411,687
Furniture and Fixtures [Member]
Useful Life of Assets	7 years
Furniture and Fixtures [Member]
Useful Life of Assets	5 years

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Related Party Transactions [Abstract]
Management fees	$ 24,000	$ 36,000

Related Party Transactions (D20

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended
	Jul. 31, 2016	Mar. 31, 2012	Dec. 31, 2017	Dec. 31, 2016
Accounts payable - related party are the fees earned but not yet paid			$ 144,500	$ 120,500
President [Member]
Management Services to President per month	$ 2,000	$ 4,000

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Property and equipment	$ 9,443	$ 9,443
Less: Accumulated depreciation	(8,259)	(6,715)
Property and equipment, net	1,184	2,728
Computer Equipment [Member]
Property and equipment	3,443	3,443
Furniture and Fixtures [Member]
Property and equipment	$ 6,000	$ 6,000

Property and Equipment, net (22

Property and Equipment, net (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation	$ 1,544	$ 1,544

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax asset attributable to:
Net operating loss	$ 21,000	$ 32,000
Valuation allowance	(21,000)	(32,000)
Net

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Refund attributable to operating loss	$ 150,000	$ 128,000
Impact of change in tax rate	(57,500)
Valuation allowance	(92,500)	(128,000)
Net provision

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Dec. 31, 2017USD ($)
Income Tax Disclosure [Abstract]
Reconciliation of income tax provision under the statutory rates	21.00%
Net Operating Loss Carryforwards	$ 442,000
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2031