Derivative Liabilities (Tables)
12 Months Ended
Dec. 31, 2020
Derivative Liabilities (Tables)  
Schedule of assumptions used fair value derivative liabilities

 

 

2020

 

 

2019

 

Expected volatility

 

 

271-322

%

 

 

219% - 264

%

Risk free interest rate

 

 

0.3-1.41

%

 

 

1.55% - 2.34

%

Expected life (in years)

 

 

0.5-1.5

 

 

 

0.8 – 1.5

 

Schedule of derivative liabilities measured at fair value

 

 

For The

Year

Ended

December 31,

2020

 

 

For The

Year

Ended

December 31,

2019

 

Embedded Conversion Features – Debt Instruments

 

 

 

 

 

 

Balances, as of the beginning of the year

 

$ 87,571

 

 

$ -

 

Derivative liabilities recorded upon issuance of debt instruments

 

 

301,351

 

 

 

483,331

 

Extinguishment due to conversion of debt instruments

 

 

(1,448,326 )

 

 

(3,055 )

Net changes in fair value included in net loss

 

 

1,156,428

 

 

 

(392,705 )

Ending balance

 

$ 97,024

 

 

$ 87,571

 

 

 

 

 

 

 

 

 

 

Embedded Conversion Features – Preferred Stock

 

 

 

 

 

 

 

 

Balances, as of the beginning of the year

 

$ 4,751

 

 

$ -

 

Derivative liabilities recorded upon issuance of preferred stock

 

 

519,427

 

 

 

207,067

 

Extinguishment due to conversion of preferred stock

 

 

(340,234 )

 

 

(22,067 )

Net changes in fair value included in net loss

 

 

(91,193 )

 

 

(180,249 )

Ending balance

 

$ 92,751

 

 

$ 4,751

 

 

 

 

 

 

 

 

 

 

Total ending balance

 

$ 189,775

 

 

$ 92,322
Summary of fair value of derivative liabilities on a recurring basis

 

 

Level 3

Carrying

Value as of

December 31,

2020

 

 

Level 3

Carrying

Value as of

December 31,

2019

 

Derivative liabilities:

 

 

 

 

 

 

Embedded conversion feature – convertible debt

 

$ 97,024

 

 

$ 87,571

 

Embedded conversion feature – preferred stock

 

 

92,751

 

 

 

4,751

 

 

 

$ 189,775

 

 

$ 92,322