Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of Stock Option Valuation Assumptions

This results in a conversion feature. The Company measures the conversion feature using the Black Scholes option pricing model using the following assumptions:

 

      Three months ended September 30,       Nine months ended September 30,  
      2017       2016       2017       2016  
Expected term     .01 months - 1 year       1 month - 1 year       .01 months - 1 years       1 month - 2.2 years  
Exercise price     $0.0130-$0.0182       $0.0690-$0.1051       $0.0085-$0.0385       $0.0645-$0.28  
Expected volatility     189%-200%       255%-276%       189%-201%       220%-276%  
Expected dividends     None       None       None       None  
Risk-free interest rate     1.05% to 1.31%       0.52% to 0.59%       1.03% to 1.31%       0.45% to 1.06%  
Forfeitures     None       None       None       None  

Schedule of Changes in Liabilities with Significant Unobservable Inputs

The following table presents changes in the liabilities with significant unobservable inputs (level 3) for the nine months ended September 30, 2017:

 

    Derivative  
      Liability  
Balance December 31, 2016   $ 1,927,752  
         
Issuance of convertible debt     5,781,056  
Settlements by debt extinguishment     (7,437,183 )
Change in estimated fair value     6,945,434  
         
Balance September 30, 2017   $ 7,217,059  

Schedule of Balance in Liabilities with Significant Unobservable Inputs

The following table presents balances in the liabilities with significant unobservable inputs (Level 3) at September 30, 2017:

 

    Fair Value Measurements Using  
    Quoted Prices in     Significant Other     Significant        
    Active Markets for     Observable     Unobservable        
      Identical Assets       Inputs       Inputs          
      (Level 1)       (Level 2)       (Level 3)       Total  
                                 
As of September 30, 2017                                
Derivative liability   $ -     $ -     $ 7,217,059     $ 7,217,059  
Total   $ -     $ -     $ 7,217,059     $ 7,217,059