Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE LIABILITY (Tables)

v3.22.1
DERIVATIVE LIABILITY (Tables)
3 Months Ended
Mar. 31, 2022
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:

 

    March 31, 2022     December 31, 2021  
Stock Price   $ 0.95     $ 1.24  
Exercise Price   $ 1.11     $ 1.11  
Expected Life     2.72       2.97  
Volatility     104 %     119 %
Dividend Yield     0 %     0 %
Risk-Free Interest Rate     2.45 %     0.97 %
Total Fair Value   $ 2,017     $ 3,155  
SCHEDULE OF DERIVATIVE LIABILITY TRANSACTIONS

The details of derivative liability transactions for the three months ended March 31, 2022 and 2021 are as follows:

 

    Three Months Ended March 31,  
    2022     2021  
Beginning balance   $ 3,155     $ 8,266  
Change in fair value     (1,138 )     (500 )
Extinguishment     -       (2,286 )
Ending balance   $ 2,017     $ 5,480