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Convertible Note Related Party and Derivative Liabilities (Tables)
12 Months Ended
Dec. 31, 2021
Convertible Note Related Party and Derivative Liabilities (Tables)  
The carrying value of these convertible notes is as follows

 

 

December 31,

2021

 

 

December 31,

2020

 

Face value of certain convertible notes

 

$25,000

 

 

$25,000

 

Carrying value

 

$25,000

 

 

$25,000

 

Schedule of interest on the convertible note

 

 

Years ended

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Interest on the convertible notes

 

$2,000

 

 

$2,017

 

the derivative liability associated with the conversion

Balance at December 31, 2019

 

$37,182

 

Change in fair value

 

 

24,500

 

Balance at December 31, 2020

 

 

61,682

 

Change in fair value

 

 

11,417

 

Balance at December 31, 2021

 

$73,099

 

derivative liabilities were based upon the following management assumptions

 

 

Commitment

Date

 

 

December 31,

2020

 

 

December 31,

2021

 

Expected dividends

 

 

0

 

 

 

0

 

 

 

0

 

Expected volatility

 

101% ~103

%

 

316% ~ 333

% 

 

181% ~ 182

% 

Expected term

 

0.92 ~ 1 year

 

 

0.74 year

 

 

0.74 year

 

Risk free interest rate

 

 

1.33%

 

 

0.09%

 

 

0.58%