DERIVATIVE LIABILITY

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITY

NOTE 7 – DERIVATIVE LIABILITY

During the year ended December 31, 2023 and 2022, we had the following activity in our derivative liability account:

	Total
Derivative liability at December 31, 2021	$	69,371
Change in fair value		(44,945	)
Derivative liability at December 31, 2022		24,426
Derivative extinguished with warrant exercise (see NOTE 9)		(3	)
Change in fair value		(18,691	)
Derivative liability at December 31, 2023	$	5,732

We use the binomial option pricing model to estimate fair value for those instruments, at inception, at warrant exercise, and at each reporting date. During the years ended December 31, 2023 and 2022, the assumptions used in our binomial option pricing model were in the following range:

	Year Ended December 31, 2023	Year Ended December 31, 2022
Risk free interest rate	4.01 - 4.23%	2.99 - 2.99%
Expected life in years	1.58 - 2.50	2.58 - 3.50
Expected volatility	116% - 122%	145% - 155%