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Fair Value (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value (Tables)  
Schedule of valuation of company's derivatives using quoted prices

 

 

Quoted Prices

 

In Active

 

Significant

 

Markets for

 

Other

 

Significant

 

Identical

 

Observable

 

Unobservable

 

Liabilities

 

Inputs

 

Inputs

 

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Accrued compensation - common stock

 

$

40,021

 

$

-

 

$

-

 

$

40,021

 

Accrued compensation - warrants

 

75,274

 

-

 

-

 

75,274

 

Accrued compensation - warrants - related party

 

115,932

 

-

 

-

 

115,932

 

Derivative liabilities

 

351,900

 

-

 

-

 

351,900

 

Balance - December 31, 2019

 

$

583,127

 

$

-

 

$

-

 

$

583,127

 

Accrued compensation - common stock

 

$

37,500

 

$

-

 

$

-

 

$

37,500

 

Accrued compensation - warrants

 

24,741

 

-

 

-

 

24,741

 

Accrued compensation - warrants - related party

 

55,083

 

-

 

-

 

55,083

 

Derivative liabilities

 

200,500

 

-

 

-

 

200,500

 

Balance - December 31, 2018

 

$

317,824

 

$

-

 

$

-

 

$

317,824

Schedule of valuation of Level 3 liabilities

 

 

For the Years Ended

 

December 31,

 

2019

 

2018

 

Risk-free interest rate

 

1.17% - 2.44%

 

1.73% - 2.91%

 

Expected term (years)

 

0.02 - 5.00

 

0.08 - 5.00

 

Expected volatility

 

110

%

 

110

%

Expected dividends

 

0.00

%

 

0.00

%

Schedule of changes in fair value of liabilities measured at fair value on a recurring basis

 

 

Accrued

 

Derivative

 

Compensation

 

Liability

 

Total

 

Balance - December 31, 2017

 

$

79,262

 

$

628,200

 

$

707,462

 

Issuance of warrants and conversion options

 

-

 

57,800

 

57,800

 

Exchange of warrant for common stock

 

24,300

 

-

 

24,300

 

Accrued compensation - warrants - related party

 

36,000

 

-

 

36,000

 

Change in fair value

 

(22,238

)

 

(485,500

)

 

(507,738

)

 

Balance - December 31, 2018

 

117,324

 

200,500

 

317,824

 

Issuance of warrants and conversion options

 

-

 

15,600

 

15,600

 

Extinguishment of conversion option

 

-

 

(1,000

)

 

(1,000

)

Warrant modification

 

-

 

283,500

 

283,500

 

Accrued compensation - common stock

 

2,521

 

2,521

 

Accrued compensation - warrants

 

50,760

 

-

 

50,760

 

Accrued compensation - warrants - related party

 

61,361

 

-

 

61,361

 

Change in fair value

 

(739

)

 

(146,700

)

 

(147,439

)

 

Balance - December 31, 2019

 

$

231,227

 

$

351,900

 

$

583,127