Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability (Tables)

v3.20.2
Derivative Liability (Tables)
6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Liability Using Binomial Pricing Model Assumptions

The derivative liabilities were valued using a Binomial pricing model with the following average assumptions:

 

    June 30, 2020     Upon Issuance     December 31, 2019  
Stock Price   $ 1.11     $ 1.70     $ 1.55  
Exercise Price   $ 1.65     $ 1.55     $ 1.88  
Expected Life     3.03       5.0       3.53  
Volatility     131 %     212 %     216 %
Dividend Yield     0 %     0 %     0 %
Risk-Free Interest Rate     0.17 %     2.47 %     1.64 %
                         
Fair Value   $ 5,679,000     $ 3,951,000     $ 5,048,000  
Schedule of Derivative Liability Transactions

The details of derivative liability transactions as of and for the periods ended June 30, 2020 and 2019 are as follows:

 

    June 30, 2020     June 30, 2019  
Beginning Balance   $ 5,048,000     $ 2,576,000  
Fair value upon issuance of notes payable and warrants     3,951,000       388,000  
Change in fair value     (3,320,000 )     (944,000 )
Extinguishment     -       (2,227,000 )
Ending Balance   $ 5,679,000     $ 219,000