Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Variable Conversion Rate

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

 

      Six months ended June 30,  
      2020       2019  
                 
Expected term     1 month       1 month - 1 year  
Exercise price     $0.06-$0.75       $6.20-$12.90  
Expected volatility     157%-249%       134%-161%  
Expected dividends     None       None  
Risk-free interest rate     0.03% to 1.54%       1.91% to 2.87%  
Forfeitures     None       None  
Schedule of Fair Value of Derivative Liability

The following table presents changes in the liabilities with significant unobservable inputs (level 3) for the three months ended June 30, 2020:

 

    Derivative  
    Liability  
Balance December 31, 2019   $ 10,599,690  
         
Issuance of convertible debt     524,742  
Extinguishment following note exchange     (151,496 )
Settlements by debt settlement     (1,705,743 )
Change in estimated fair value     (5,600,255 )
         
Balance June 30, 2020   $ 3,666,938  
Schedule of Recorded Derivative Liability

The following table presents balances in the liabilities with significant unobservable inputs (Level 3) at June 30, 2020:

 

    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 June 30, 2020                                
Derivative liability   $                 -     $                  -     $ 3,666,938     $ 3,666,938  
Total   $ -     $ -     $ 3,666,938     $ 3,666,938