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Derivative Liabilities
9 Months Ended
Sep. 30, 2022
Derivative Liabilities  
Derivative Liabilities

6. Derivative Liabilities

 

The following inputs and assumptions were used to value the convertible debentures outstanding during the years ended September 30, 2022, and September 30, 2021:

 

The projected annual volatility for each valuation period was based on the historic volatility of the Company of 0% and 245.6% at September 30, 2022 and 2021, respectively. The risk-free rate was 0% and .07% on September 30, 2022 and 2021, respectively.

 

A summary of the activity of the derivative liability is shown below:

 

Balance, September 30, 2020  $991,322 
Change in value   15,517,428 
Balance, September 30, 2021   16,508,750 
Change in value   (16,508,750)
Balance, September 30, 2022   0