Metaworks Platforms Inc. Files Q1 2024 10-Q

TL;DR

Metaworks Platforms (MWRK) filed Q1 2024 10-Q. Check financials.

AI Summary

Metaworks Platforms, Inc. filed its Q1 2024 10-Q report on May 20, 2024, detailing its financial performance for the period ending March 31, 2024. The company, formerly known as CurrencyWorks Inc., operates in the business services sector and is incorporated in Nevada. The filing covers the period from January 1, 2024, to March 31, 2024, and includes comparative data from the previous fiscal year.

Why It Matters

This filing provides investors with a quarterly update on Metaworks Platforms' financial health and operational performance, crucial for understanding its current business trajectory.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it represents a standard quarterly report, but the company's specific financial details and market position would determine the actual risk level.

Key Numbers

• Q1 2024 — Reporting Period (Financial performance for the first quarter of 2024.)
• March 31, 2024 — Period End Date (The end date for the financial data presented in the report.)
• May 20, 2024 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• METAWORKS PLATFORMS, INC. (company) — Filer
• CurrencyWorks Inc. (company) — Former company name
• 20240331 (date) — Reporting period end date
• 20240520 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 870KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-020789.txt ( ) — 5159KB
• mwrk-20240331.xsd (EX-101.SCH) — 48KB
• mwrk-20240331_cal.xml (EX-101.CAL) — 49KB
• mwrk-20240331_def.xml (EX-101.DEF) — 197KB
• mwrk-20240331_lab.xml (EX-101.LAB) — 350KB
• mwrk-20240331_pre.xml (EX-101.PRE) — 278KB
• form10-q_htm.xml (XML) — 674KB

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 3

MANGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25

QUANTITATIVE AND QUALITATIVE DISCLOSURE OF MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE OF MARKET RISK 29

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 29 PART II 30

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 30

RISK FACTORS

ITEM 1A. RISK FACTORS 30

UNREGISTERED SALES OF EQUITY SECURITIES AN USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AN USE OF PROCEEDS 30

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 30

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 30

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 30

EXHIBITS

ITEM 6. EXHIBITS 31 2 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. Our unaudited condensed interim consolidated financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles. It is the opinion of management that the unaudited condensed interim consolidated financial statements for the quarter ended March 31, 2024 include all adjustments necessary in order to ensure that the unaudited condensed interim consolidated financial statements are not misleading. 3 MetaWorks Platforms, Inc. Condensed Consolidated Balance Sheets March 31, 2024 December 31, 2023 (unaudited) (audited) Assets Current Assets Cash and cash equivalents $ 6,886 $ 3,076 Accounts receivable 65,000 115,112 Prepaid expenses 11,697 9,696 Interest receivable, related party – net - - Notes receivable, related party – net - - Notes receivable – net - - Total Current Assets 83,583 127,884 Long-Term Assets Intangible asset, net 1,554,250 1,554,250 Total Long-Term Assets 1,554,250 1,554,250 Total Assets $ 1,637,833 $ 1,682,134 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued expenses $ 1,116,261 $ 865,990 Accounts payable and accrued expenses, related party 227,305 486,580 Accounts payable and accrued expenses 227,305 486,580 Deferred revenue 77,700 77,700 Notes payable – current portion, net 294,028 271,247 Convertible notes payable – software acquisition 854,250 854,250 Convertible notes payable – other - 25,000 Convertible notes payable - 25,000 Total Current Liabilities 2,569,544 2,580,767 Total Liabilities 2,569,544 2,580,767 Commitments and Contingencies - - Stockholders' Equity Common stock, $ 0.001 par value, 400,000,000 shares authorized; 117,452,923 and 108,807,923 shares issued and outstanding as at March 31, 2024 and December 31, 2023, respec

View Full Filing

View this 10-Q filing on SEC EDGAR