Quarterly report pursuant to Section 13 or 15(d)

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)
3 Months Ended
Mar. 31, 2021
Derivative Liability [Abstract]  
Summary of Changes in Fair Value

The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2021:



Fair Value

Using Level 3

Balance, December 31, 2020   $ 1,357,528  
Change in fair value of derivative liabilities     303,043  
Derivative liabilities recorded on issuance of convertible notes     1,612,053  
Write-off of derivative liabilities upon settlement of debt     (543,473 )
Balance, March 31, 2021   $ 2,729,151  
Schedule of Weighted Average Assumptions

During the three months ended March 31, 2021, the fair value of the derivative feature was calculated using the following weighted average assumptions:



March 31,



Risk-free interest rate     0.03 – 0.08 %
Expected life of grants     0.75 year  
Expected volatility of underlying stock     169 - 291 %
Dividends     0 %