CONVERTIBLE DEBT (Tables)

9 Months Ended

Sep. 30, 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:

	September 30, 2020	December 31, 2019
Stock price	-	$3.50 - $5.00
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

The Company estimated the fair value of these potentially issuable warrants using the Black-Scholes method and the following assumptions:

	September 30, 2020		December 31, 2019
Closing trade price of Common Stock	$	-	$	3.50
Intrinsic value of conversion option per share	$	-	$	3.50

	September 30, 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 September 30, 2020 and December 31, 2019: 

	September 30, 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, September 30, 2020	$	-