Quarterly report pursuant to Section 13 or 15(d)

Derivative Liabilities (Tables)

v3.21.2
Derivative Liabilities (Tables)
9 Months Ended
Sep. 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:

Schedule of Weighted Average Assumptions 

    September 30, 2021     December 31, 2020  
Expected term (years)     0.20 - 1 year       0.75 years  
Expected volatility     143% - 291 %     96% - 132 %
Expected dividends     0 %     0 %
Risk free interest rate     0.03% - 0.09 %     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 September 30, 2021 and December 31, 2020:

 

 Summary of Changes in Fair Value

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     (746,896 )
Gain on derivative liability upon related debt settled     (920,375 )
Derivative liability - September 30, 2021   $ 1,567,508