Derivative Liability

9 Months Ended

Sep. 30, 2022

Derivative Liability

Derivative Liability

Note 4 – Derivative Liability

Under the terms of the April 2022, May 2022, July 2022, August 2022 and September 2022 Convertible Notes, the Company identified derivative instruments arising from embedded conversion features.

The following summarizes the Black-Scholes assumptions used to estimate the fair value of the derivative liability at the dates of issuance and the revaluation dates:

Volatility	119.7-128.6%
Risk-free interest rate	2.03–4.05%
Expected life (years)	0.57–0.98
Dividend yield		--

Changes in the derivative liability were as follows:

	Nine months Ended September 30, 2021
	Level 1		Level 2		Level 3			Total
Convertible debt and other derivative liabilities at December 31, 2020	$	-	$	-	$	396,143		$	396,143
Conversions of convertible debt		-		-		(1,518,278	)		(1,518,278	)
Issuance of convertible debt and other derivatives		-		-		595,266			595,266
Change in fair value		-		-		737,182			737,182
Convertible debt and other derivative liabilities at September 30, 2021	$	-	$	-	$	210,313		$	210,313

	Nine months Ended September 30, 2022
	Level 1		Level 2		Level 3			Total
Convertible debt and other derivative liabilities at December 31, 2021	$	-	$	-	$	175,915		$	175,915
Conversions of convertible debt		-		-		(401,707	)		(401,707	)
Issuance of convertible debt and other derivatives		-		-		276,772			276,772
Change in fair value		-		-		119,877			119,877
Convertible debt and other derivative liabilities at September 30, 2022	$	-	$	-	$	170,857		$	170,857