Derivative Liability (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31, 2021 and December 31, 2020:

	March 31,			December 31,
	2021			2020
Stock price	$	0.024		$	0.017
Risk free rate		0.07	%		0.10	%
Volatility		235	%		275	%
Conversion/ Exercise price	$	.017-.018		$	.008-.0085
Dividend rate		0	%		0	%

Schedule of Derivative Liabilities at Fair Value

The following table represents the Company’s derivative liability activity for the three months ended March 31, 2021:

Derivative liability balance, December 31, 2020	$	5,262,448
Issuance of derivative liability during the period		787,365
Fair value of beneficial conversion feature of debt converted		(9,207,107	)
Change in derivative liability during the period		4,442,460
Derivative liability balance, March 31, 2021	$	1,285,166