Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Changes in Fair Value of Derivative Liabilities

The table below sets forth a summary of the changes in the fair value of the Company’s derivative liabilities classified as Level 3 as of June 30, 2020:

	Conversion Feature
Balance at December 31, 2019	$	540,517
New derivative liability		870,268
Reclassification to additional paid in capital from conversion of debt to common stock		(408,811	)
Change in fair value		(10,512	)
Balance at June 30, 2020	$	991,462

Summary of Estimate Fair Value of Derivative Liabilities

The Company used the following assumptions to estimate fair value of the derivatives as of June 30, 2020:

	June 30, 2020
	Key Assumptions for
	fair value of conversions
Risk free interest		0.16	%
Market price of share	$	0.1875
Life of instrument in years		1.81 - 2.10
Volatility		151.87	%
Dividend yield		0	%

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following number of shares have been excluded from diluted loss since such inclusion would be anti-dilutive:

	Six Months Ended June 30,				Three Months Ended June 30,
	2020		2019		2020		2019
Convertible notes		11,584,300		8,000,000		5,000,000		8,000,000
Stock options		6,135,284		6,477,922		6,135,284		6,477,922
Warrants		15,237,500		22,216,211		15,237,500		22,216,211
Potentially dilutive securities		32,957,084		36,694,133		26,372,784		33,457,084

Schedule of Weighted Average Common Shares Outstanding

The following table reflects the inclusion of the common stock equivalents included in the calculation of the diluted net income per share for the three months ended June 30, 2020. No similar calculations are required for the three months ended June 30, 2019 or the six months ended June 30, 2020 and 2019, respectively as all these periods had losses.

Reconciliation for Basic to Diluted Weighted Average common stock outstanding
Basic weighted average common stock outstanding	88,152,403
Add: Dilutive Common Stock Instruments
Shares issuable upon conversion of debt	6,584,300
Diluted weighted average common stock outstanding	94,736,703