Derivative Liability (Tables)

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Assumptions to measure fair value

The Company uses a weighted average Black-Scholes option pricing model with the following assumptions to measure the fair value of derivative liability at September 30, 2020:

Stock price	$	0.012
Risk free rate		0.12	%
Volatility		250	%
Conversion/ Exercise price	$	.007-.008
Dividend rate		0	%

Schedule of Derivative Liabilities at Fair Value

The following table represents the Company’s derivative liability activity for the nine months ended September 30, 2020:

Derivative liability balance, December 31, 2019	$	-
Issuance of derivative liability during the period		5,285,799
Fair value of beneficial conversion feature of debt converted		(1,475,603	)
Change in derivative liability during the period		(612,829	)
Derivative liability balance, September 30, 2020	$	3,197,367