Warrants

9 Months Ended

Sep. 30, 2020

Warrants [Abstract]

WARRANTS

NOTE 10 - WARRANTS

On May 30, 2019, the Company issued 1,500,000 warrants in conjunction with convertible debt. The warrants are exercisable for 3 years at $.10 per share. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs:

Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $41,853, accounted for in additional paid in capital.

Warrants		1,500,000
Share price	$	0.045
Exercise Price	$	0.07
Term		3 years
Volatility		406	%
Risk Free Interest Rate		2.0	%
Dividend rate		-

On October 4, 2019, the Company issued 1,500,000 warrants in conjunction with convertible debt. The warrants are exercisable for 3 years at $0.10 per share. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs:

Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $36,606, accounted for in additional paid in capital.

The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs:

Warrants		1,500,000
Share price	$	0.0245
Exercise Price	$	0.10
Term		3 years
Volatility		356.53	%
Risk Free Interest Rate		1.35	%
Dividend rate		-

On January 22, 2020, the Company issued 63,236,369 additional warrants as part of the down round protection provisions. The adjusted exercise price was $0.00385. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity.

The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs:

Warrants		63,236,369
Share price	$	0.0249
Exercise Price	$	0.00385
Term		2.35 – 2.70 years
Volatility		392.73 – 410.10	%
Risk Free Interest Rate		1.52 – 1.53	%
Dividend rate		-

A summary of the status of the Company's outstanding stock warrants and changes during the year is presented below:

Activity for the six months ended September 30, 2020 is as follows:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Aggregate Intrinsic Value
Outstanding at December 31, 2018		-		$	-		-
Granted		3,000,000			0.07		2.59
Expired		-			-		-
Exercised		-			-		-
Outstanding at December 31, 2019		3,000,000			0.07		2.59
Granted		63,236,369			0.00385		2.56
Expired		-			-		-
Exercised		(50,262,343	)		0.00385		-
Exercisable at September 30, 2020		15,974,026		$	0.00385		2.09	$	-

Range of Exercise Prices		Number Outstanding 9/30/2020		Weighted Average Remaining Contractual Life	Weighted Average Exercise Price
	$0.00385		15,974,026	1.84 years		$0.00385

The aggregate intrinsic value represents the total pretax intrinsic value, based on warrants with an exercise price less than the Company's stock price as of September 30, 2020, which would have been received by the warrant holder had the warrant holder exercised their warrants as of that date.