Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Schedule of Change in Level 3 Financial Instrument

The change in the Level 3 financial instrument is as follows:

 

    2018     2017  
Balance, beginning of year   $ 92,897     $ 584,168  
Issued during the period     -       22,368  
Converted     -       (1,017,840 )
Change in fair value recognized in operations     (33,756 )     504,201  
Balance, March 31, 2018 and December 31, 2017   $ 59,141     $ 92,897  

Schedule of Estimated Fair Value of Derivative Instruments Assumptions

The estimated fair value of the derivative instruments was valued using the Black-Scholes option pricing model, using the following assumptions as of March 31, 2018:

 

    2018     2017  
Estimanted dividends   None     None  
Expected volatility     164.32 %     216.37 %
Risk free interest rate     2.85 %     2.76 %
Expected term     .01-36 months       .01-36 months