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Derivative Liabilities (Tables)
3 Months Ended
Mar. 31, 2023
Derivative Liability [Abstract]  
Schedule of derivative liability measured at fair value
The table below sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities:
 
   
 
 
 
 
Total
 
Balance as of December 31, 2021
 
$
110,992
 
Change Due to Issuances
 
 
2,718,645
 
Transfer to put premium
 
 
(112,537
)
Change in fair value
 
 
(544,850
)
Balance as of December 31, 2022
 
$
2,172,250
 
Change Due to Issuances
 
 
67,429
 
Change in fair value
 
 
(1,303,044
)
Balance as of March 31, 2023
 
$
936,636
 
Schedule of assumptions used in the calculations of its derivatives
The following table shows the assumptions used in the calculations of its derivatives:
 
 
 
March 31, 2023
 
 
December 31, 2022
 
Stock price
 
 
$0.0002 - $0.0005
 
 
 
$0.0002 - $0.0005
 
Exercise price
 
 
$0.00005 - $0.0001
 
 
 
$0.00005 - $0.0001
 
Contractual term (in years)
 
 
1.00 – 0.80
 
 
 
1.00 – 0.80
 
Volatility (annual)
 
 
441% - 443
%
 
 
 
441% - 443
%
 
Risk-free rate
 
 
4.41% - 4.60
%
 
 
 
4.41% - 4.60
%