Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.20.1
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value on a recurring basis

    December 31,
2019
    Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
Derivative liability   $ 9,451     $     $     $ 9,451  
Warrant liability     461,744                   461,744  
Total   $ 471,195     $     $     $ 471,195  

 

    December 31,
2018
    Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
Derivative liability   $ 54,242     $     $     $ 54,242  
Warrant liability     925,806                   925,806  
Total   $ 980,048     $     $     $ 980,048  
Schedule of fair value of the conversion/exercise options

Conversion option:

 

    December 31,  
    2018  
Common Stock Closing Price   $ 0.03  
Conversion Price per Share   $ 0.075 to 0.10  
Conversion Shares     5,333,333  
Call Option Value     0.013 to 0.055  
Dividend Yield     0.00 %
Volatility     221.92 %
Risk-free Interest Rate     2.46% to 2.51 %
Term     0.32 to 0.625 years  

 

Exercise option:

 

    December 31,  
    2018  
Common Stock Closing Price   $ 0.03  
Conversion Price per Share   $ 0.10 to 0.15  
Conversion Shares     34,000,000  
Call Option Value     0.026 to 0.028  
Dividend Yield     0.00 %
Volatility     221.92 %
Risk-free Interest Rate     2.46 to 2.51 %
Term     2.62 to 4 years  
Schedule of changes in the Company's Level 3 financial liabilities
    Debt     Warrant  
    Derivative     Liability  
Balance December 31, 2017   $ 429,141     $ 1,099,200  
Aggregate amount of derivative instruments issued           226,831  
Transferred in due to conversions     (291,612 )      
Change in fair value of derivative liabilities     (83,287 )     (400,225 )
Balance, December 31, 2018     54,242       925,806  
Aggregate amount of derivative instruments issued            
Transferred in due to conversions            
Change in fair value of derivative liabilities     (44,791 )     (464,062 )
Balance, December 31, 2019   $ 9,451     $ 461,744