DERIVATIVE LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Liabilities

Schedule of fair value of derivative liabilities

	Derivative Liability Convertible Notes			Derivative Liability Warrants		Total
Balance as of December 31, 2020		378,134			219,814		597,948
Change in fair value		(21,186	)		76,285		55,099
Change in fair value due to conversion		(24,748	)		—		(24,748	)
Balance as of June 30, 2021	$	332,200		$	296,099	$	628,299

Schedule of pricing mode with assumptions

Market value of common stock	$	1.67
Expected volatility		66.2	%
Expected term (in years)		0.11
Risk-free interest rate		0.13	%

At June 30, 2021, the fair value of the derivative liability – warrants is estimated using a Monte Carlo pricing model with the following assumptions:

Market value of common stock	$	1.67
Expected volatility		97.7	%
Expected term (in years)		4.39
Risk-free interest rate		0.59	%