Quarterly report pursuant to Section 13 or 15(d)

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)
6 Months Ended
Jun. 30, 2020
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 six months ended June 30, 2020:



Fair Value

Using Level 3

Balance, December 31, 2019   $ 190,846  
Change in fair value of derivative liabilities     192,562  
Derivative liabilities recorded on issuance of convertible notes     1,800,179  
Write-off of derivative liabilities upon settlement of debt     (349,151 )
Balance, June 30, 2020   $ 1,449,312  
Schedule of Weighted Average Assumptions

During the six months ended June 30, 2020, the fair value of the derivative feature was calculated using the following weighted average assumptions:


    June 30, 2020  
Risk-free interest rate     0.14 – 1.51 %
Expected life of grants     0.75 year  
Expected volatility of underlying stock     96 - 115 %
Dividends     0 %