Annual report pursuant to Section 13 and 15(d)

DERIVATIVE LIABILITY (Tables)

v3.23.1
DERIVATIVE LIABILITY (Tables)
12 Months Ended
Dec. 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 assumptions:

 

    As of December 31,  
    2022     2021  
Stock Price   $ 0.16     $ 1.24  
Exercise Price   $ 0.34     $ 1.11  
Expected Life     1.98       2.97  
Volatility     107 %     119 %
Dividend Yield     0 %     0 %
Risk-Free Interest Rate     4.41 %     0.97 %
Total Fair Value   $ 222     $ 3,155  
SCHEDULE OF DERIVATIVE LIABILITY TRANSACTION

The details of derivative liability transactions for the year ended December 31, 2022 and 2021 are as follows:

 

    2022     2021  
    Years Ended December 31,  
    2022     2021  
Beginning balance   $ 3,155     $ 8,266  
Change in fair value     (2,933 )     (598 )
Extinguishment     -       (4,513 )
Ending balance   $ 222     $ 3,155