The Company used Level
2 inputs for its valuation methodology for the derivative liabilities in determining the fair value using the Black-Scholes option-pricing
model for year three months ended September 30, 2017.
| |
|
Carrying Value |
|
|
Fair Value Measurements at |
|
| |
|
As of |
|
|
September 30, 2017 |
|
| |
|
September 30, |
|
|
Using Fair Value Hierarchy |
|
| |
|
2017 |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative liabilities |
|
$ |
1,479,052 |
|
|
$ |
— |
|
|
$ |
1,479,052 |
|
|
$ |
— |
|
| Total |
|
$ |
1,479,052 |
|
|
$ |
— |
|
|
$ |
1,479,052 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017 |
|
| Annual dividend yield |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
| Expected life (years) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.74 |
|
| Risk-free interest rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.68 |
% |
| Expected volatility |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
161 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Carrying Value |
|
|
Fair Value Measurements at |
|
| |
|
As of |
|
|
June 30, 2017 |
|
| |
|
June 30, |
|
|
Using Fair Value Hierarchy |
|
| |
|
2017 |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative liabilities |
|
$ |
1,134,000 |
|
|
$ |
— |
|
|
$ |
1,134,000 |
|
|
$ |
— |
|
| Total |
|
$ |
1,134,000 |
|
|
$ |
— |
|
|
$ |
1,134,000 |
|
|
$ |
— |
|
|