CONVERTIBLE NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Convertible notes payable

Convertible notes payable consists of the following:

	December 31, 2019		December 31, 2018
September 2019 Notes, issued September 29, 2019, with a maturity date of September 29, 2020, with an interest rate of 15%.	$	70,020	$	—
January and February 2018 Notes, issued January 3, 2018 and February 16, 2018 respectively, with a maturity date of March 31, 2020 as amended, with an interest rate of 10%		294,000		294,000
November 2017 Notes, issued November 10, 2017, with a maturity date of March 31, 2020, as amended, bearing no interest, and secured by substantially all of the Company's assets and guarantees of payment by the Company's CEO, and Australian Sapphire Corporation("ASC"), a shareholder of the Company which is wholly-owned by the Company's CEO.		287,502		287,502
November 2016 Notes, issued November 10, 2016, with a maturity date of March 31, 2020, as amended, bearing no interest, and secured by substantially all of the Company's assets and guarantees of payment by the Company's CEO, and ASC.		287,502		287,502
December 2015 Notes, issued December 23, 2015, with a maturity date of March 31, 2020, as amended, bearing no interest, and secured by substantially all of the Company's assets and guarantees of payment by the Company's CEO, and ASC.		862,500		862,500
Total Convertible notes payable		1,801,524		1,731,504
Debt discount		—		—
Convertible notes payable, net of unamortized debt discount	$	1,801,524	$	1,731,504

Summary of convertible debt

he following represents a summary of the convertible debt terms at December 31, 2019:

	Amount of Notes		Debt Discount		Maturity Dates thru	Conversion price		Number of Warrants		Exercise Price		Warrants Exercisable thru
September 2019 Notes	$	70,020	$	—	9/29/2020	$	0.0025		—	$	0.15		—
January and February 2018 Notes		294,000		—	3/31/2020	$	0.0025		1,960,000	$	0.15		2/16/2023
November 2017 Notes		287,502		—	3/31/2020	$	0.0025		3,593,776	$	0.15		11/10/2022
November 2016 Notes		287,502		—	3/31/2020	$	0.0025		3,593,776	$	0.15		11/10/2022
December 2015 Notes		862,500		—	3/31/2020	$	0.0025		10,781,250	$	0.15		11/10/2022
Total		1,801,524	$	—		$	0.0025		19,928,802	$	0.15

Schedule of purchaser warrants fair value assumptions using monte carlo simulation

The assumptions used in the Black-Scholes option-pricing method is set forth below:

	January 3, 2018			February 16, 2018
Common stock price	$	0.17		$	0.13
Term		5 years			5 years
Strike price	$	0.15		$	0.15
Dividend yield		0			0
Risk free rate		2.25	%		2.63	%
Volatility		62.5	%		62.5	%

Schedule of fair value and relative fair value

	January 3, 2018				February 16, 2018
	Fair value		Relative fair value		Fair value		Relative fair value
Warrant	$	95,324	$	19,784	$	65,292	$	16,955
Common sock	$	70,833	$	14,701	$	54,167	$	14,066
Redeemable shares	$	255,000	$	52,923	$	195,000	$	50,637
Remaining note value	$	110,300	$	22,892	$	110,300	$	28,642
Total	$	531,457	$	110,300	$	424,759	$	110,300
Additional discount (interest)	$	—	$	13,808	$	—	$	8,058