Derivative Liability (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2020 and 2019:

	December 31,			December 31,
	2020			2019
Stock price	$	0.017		$	3.080
Risk free rate		0.10	%		1.75	%
Volatility		275	%		650	%
Conversion/ Exercise price	$	.008-.0085		$	0.800
Dividend rate		0	%		0	%

Schedule of Derivative Liabilities at Fair Value

The following table represents the Company’s derivative liability activity for the years ended December 31, 2019 and 2020:

Derivative liability balance, December 31, 2018	$	3,833,506
Issuance of derivative liability during the period		5,721,939
Fair value of beneficial conversion feature of debt converted		(2,264,578	)
Change in derivative liability during the period		(7,290,867	)
Derivative liability balance, December 31, 2019		-
Issuance of derivative liability during the period		5,767,230
Fair value of beneficial conversion feature of debt converted		(2,038,392	)
Change in derivative liability during the period		1,533,610
Derivative liability balance, December 31, 2020	$	5,262,448