CONVERTIBLE DEBT (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of estimated the fair value

The Company estimated the fair value of the monthly payment provision using a Monte Carlo Simulation, with 10,000 trials, with the following key inputs:

	March 31, 2020	December 31, 2019
Stock price	-	$0.07 - $0.10
Terms (years)	-	0.72 – 1.00
Volatility	-	153.9% - 195.7%
Risk-free rate	-	1.60% - 1.87%
Probability of QPI	-	50%

Schedule of estimated the fair value of these warrants using Black-Scholes

These common stock purchase warrants did not trade on an active securities market, and as such, the Company estimated the fair value of these warrants using the Black-Scholes method and the following assumptions:

	March 31, 2020		December 31, 2019
Closing trade price of Common Stock	$	-	$	0.07
Intrinsic value of conversion option per share	$	-	$	0.07

	March 31, 2020		December 31, 2019
Annual Dividend Yield		-		0.0%
Expected Life (Years)		-		5
Risk-Free Interest Rate		-		1.68%-1.69%
Expected Volatility		-		445.01%-453.08%

Schedule of convertible debt

The following table summarizes the 2019 Debentures outstanding as of March 31, 2020 and December 31, 2019: 

	March 31, 2020		December 31, 2019
Convertible Debentures, due September 18, 2020:
Principal value	$	-	$	600,000
Unamortized debt discount		-		(302,003	)
Carrying value of convertible notes		-		297,997
Total short-term carrying value of Convertible Debentures	$	-	$	297,997

Embedded Derivative Liability:
Fair value of derivative liability, December 31, 2019	$	171,499
Gain on extinguishment of debt		(171,499	)
Fair value of derivative liability, March 31, 2020	$	-

The following table summarizes the 2020 Debentures outstanding as of March 31, 2020 and December 31, 2019: 

	March 31, 2020			December 31, 2019
Convertible Debentures:
Principal value	$	1,662,000		$	-
Principal value – Related Party		330,000			-
Unamortized debt discount		(1,558,695	)		-
Unamortized debt discount – Related Party		(309,488	)		-
Carrying value of convertible notes		123,817			-
Total long-term carrying value of Convertible Debentures	$	123,817		$	-