MetaWorks Platforms Files Q2 2024 10-Q

TL;DR

MWRK Q2 24 10-Q filed. Financials updated.

AI Summary

MetaWorks Platforms, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as CurrencyWorks Inc., reported financial results for the second quarter of 2024. Specific financial figures and operational details are presented within the filing, which covers the period from April 1, 2024, to June 30, 2024, and compares them to the same period in 2023.

Why It Matters

This filing provides investors with an update on MetaWorks Platforms' financial performance and operational status for the second quarter of 2024, crucial for understanding the company's current financial health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's history of name changes and its industry sector can introduce inherent risks.

Key Numbers

• Q2 2024 — Reporting Period (Financial results for the second quarter of 2024 are detailed.)
• Q2 2023 — Comparative Period (Financial results are compared against the same period in 2023.)

Key Players & Entities

• MetaWorks Platforms, Inc. (company) — Filer of the 10-Q
• CurrencyWorks Inc. (company) — Former name of MetaWorks Platforms, Inc.
• 20240630 (date) — End of the reporting period
• 20240819 (date) — Date of filing

FAQ

Filing Documents

• form10-q.htm (10-Q) — 935KB
• 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
• 0001493152-24-033059.txt ( ) — 5519KB
• mwrk-20240630.xsd (EX-101.SCH) — 49KB
• mwrk-20240630_cal.xml (EX-101.CAL) — 51KB
• mwrk-20240630_def.xml (EX-101.DEF) — 204KB
• mwrk-20240630_lab.xml (EX-101.LAB) — 365KB
• mwrk-20240630_pre.xml (EX-101.PRE) — 288KB
• form10-q_htm.xml (XML) — 740KB

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 June 30, 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 June 30, 2024 December 31, 2023 (unaudited) Assets Current Assets Cash and cash equivalents $ 1,307 $ 3,076 Accounts receivable 45,000 115,112 Prepaid expenses 9,696 9,696 Interest receivable, related party – net (See note 6) - - Notes receivable, related party – net (see note 6) - - Notes receivable – net (see note 6) - - Total Current Assets 56,003 127,884 Long-Term Assets Intangible asset, net - 1,554,250 Total Long-Term Assets - 1,554,250 Total Assets $ 56,003 $ 1,682,134 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued expenses $ 1,136,053 $ 865,990 Accounts payable and accrued expenses, related party 242,003 486,580 Accounts payable and accrued expenses 242,003 486,580 Deferred revenue 77,700 77,700 Notes payable – current portion, net 256,164 271,247 Convertible notes payable – software acquisition 854,250 854,250 Convertible notes payable – other 377,055 25,000 Convertible notes payable 377,055 25,000 Total Current Liabilities 2,943,225 2,580,767 Total Liabilities 2,943,225 2,580,767 Commitments and Contingencies - - Stockholders' Equity Common stock, $ 0.001 par value, 400,000,000 shares authorized; 122,795,143 and 108,807,923 shares issued and outstanding as at June 30, 2024 and December

View Full Filing

View this 10-Q filing on SEC EDGAR