Quarterly report pursuant to Section 13 or 15(d)

Derivative Liabilities (Tables)

v3.21.2
Derivative Liabilities (Tables)
6 Months Ended
Jun. 30, 2021
Derivative Liability [Abstract]  
Schedule of Weighted Average Assumptions

The Company used the binomial pricing model to estimate the fair value of its embedded conversion option liabilities with the following inputs:

 

    June 30, 2021   December 31, 2020
Expected term (years)   0.20 - 0.75 years   0.75 years
Expected volatility   143% - 291%   96% - 132%
Expected dividends   0%   0%
Risk free interest rate   0.03% - 0.08%   0.08% - 1.51%
Summary of Changes in Fair Value

A reconciliation of the beginning and ending balances for the derivative liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows at June 30, 2021 and December 31, 2020:

Derivative liability - December 31, 2019   $ 190,846  
Fair value at commitment date     2,024,191  
Fair value mark to market adjustment     (577,936 )
Gain on derivative liability upon related debt settled     (279,573 )
Derivative liability - December 31, 2020     1,357,528  
Fair value at commitment date     1,877,251  
Fair value mark to market adjustment     (949,680 )
Gain on derivative liability upon related debt settled     (825,932 )
Derivative liability - June 30, 2021   $ 1,459,167