Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.20.2
Shareholders' Deficit (Tables)
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Schedule of Preferred Stock

The Company has authorized 5,000,000 shares of preferred stock which have been designated as follows:

 

   

Number of Shares

Authorized

   

Number of Shares Outstanding

at September 30, 2020

   

Par

Value

   

Liquidation

Value

 
Series AA     1,000,000       25,000     $ 0.0010     $ -  
Preferred Series B     50,000       600     $ 0.0001     $ 100  
Preferred Series C     8,000       763     $ 0.0001     $ 1,000  
Preferred Series D     20,000       305     $ 0.0001     $ 1,000  
Undesignated     3,922,000       -       -       -  
Schedule of Stock Options Outstanding

The balance of all stock options outstanding as of September 30, 2020, is as follows:

 

         

Weighted

Average

   

Weighted

Average

Remaining

    Aggregate  
          Exercise Price     Contractual     Intrinsic  
    Options     Per Share     Term (years)     Value  
Outstanding at January 1, 2020     99,833     $ 27.81       2.02             -  
Granted     3,000,000     $ 0.15       1.90       -  
Cancelled     (80,232 )   $ 21.86       0.17       -  
Exercised     -     $ -       -       -  
Outstanding at September 30, 2020     3,019,601     $ 0.50       3.23     $ -  
                                 
Exercisable at September 30, 2020     269,601                  
Schedule of Warrants Outstanding

A summary of the status of the warrants granted under these agreements at September 30, 2020, and changes during the nine months then ended is presented below:

 

    Outstanding Warrants        
    Shares    

Weighted

Average

Exercise Price

Per Share

   

Weighted Average Remaining Contractual

Term (years)

 
Outstanding at January 1, 2020     73,486     $ 306.28       1.37  
Granted     -     $ -       -  
Cancelled     (16,572 )   $ 406.21       -  
Exercised     -     $ -          
Outstanding at September 30, 2020     56,914     $ 277.20       0.84  
                         
Exercisable at September 30, 2020     56,914     $ 277.20       0.84  
Schedule of Stock Options Valuation of Assumptions

The Company measures the fair value of stock options and warrants issued using the Black Scholes option pricing model using the following assumptions:

 

    Nine months ended September 30,  
    2020     2019  
             
Expected term     1 year       2 years  
Exercise price     $0.15       $14.50-$27.90  
Expected volatility     231%       199%-242%  
Expected dividends     None       None  
Risk-free interest rate     0.14%       1.80% to 2.60%  
Forfeitures     None       None