Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability (Tables)

v3.20.2
Derivative Liability (Tables)
9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Liability Transactions

At September 30, 2020, the fair value of the derivative liability amounted to $4,545,000. The details of derivative liability transactions as of and for the periods ended September 30, 2020 and 2019 are as follows:

 

    September 30, 2020     September 30, 2019  
Beginning Balance   $ 5,048,000     $ 2,576,000  
Fair value upon issuance of notes payable and warrants     3,951,000       6,561,000  
Change in fair value     (4,295,000 )     (3,320,000 )
Extinguishment     (159,000     (2,227,000 )
Ending Balance   $ 4,545,000     $ 3,591,000  

Schedule of Derivative Liability Using Binomial Pricing Model Assumptions

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

 

    September 30, 2020    

Upon

Issuance

    December 31, 2019  
Stock Price   $ 1.08     $ 1.70     $ 1.55  
Exercise Price   $ 1.62     $ 1.55     $ 1.88  
Expected Life     2.78       5.0       3.53  
Volatility     107 %     212 %     216 %
Dividend Yield     0 %     0 %     0 %
Risk-Free Interest Rate     0.14 %     2.47 %     1.64 %
                         
Fair Value   $ 4,545,000     $ 3,951,000     $ 5,048,000