Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability (Tables)

v3.19.3
Derivative Liability (Tables)
9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Liability Using Weighted Average Black-Scholes-Merton Pricing Model

The derivative liabilities were valued using a probability weighted average Black-Scholes-Merton pricing model with the following average assumptions:

 

    September 30, 2019     Upon Issuance     December 31, 2018  
Stock Price   $ 1.08     $ 4.78     $ 4.80  
Exercise Price   $ 1.88     $ 3.76     $ 2.70  
Expected Life     3.78       2.75       1.78  
Volatility     219 %     192 %     184 %
Dividend Yield     0 %     0 %     0 %
Risk-Free Interest Rate     1.56 %     1.99 %     2.46 %
                         
Fair Value   $ 3,591,000     $ 6,561,000     $ 2,576,000  

Schedule of Derivative Liability Transactions

The details of derivative liability transactions for the nine months ended September 30, 2019 are as follows:

 

    September 30, 2019  
Beginning Balance   $ 2,576,000  
Fair value upon issuance of notes payable and warrants     6,561,000  
Change in fair value     (3,320,000 )
Extinguishment     (2,227,000 )
Ending Balance   $ 3,591,000