DERIVATIVE LIABILITY

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITY

NOTE 7 – DERIVATIVE LIABILITY

During the three months ended March 31, 2022, we had the following activity in our derivative liability account relating to our warrants:

Derivative liability at December 31, 2021	$	69,371
Derivative liability recorded on new instruments		-
Derivative liability reduced by warrant exercise (see NOTE 7)		-
(Gain) loss on fair value		23,843
Derivative liability at March 31, 2022	$	93,214

We use the binomial option pricing model to estimate fair value for those instruments at inception, at warrant exercise, and at each reporting date. During the three months ended March 31, 2022, the assumptions used in our binomial option pricing model were in the following range:

Risk free interest rate	0.97 - 1.26	%
Expected life in years	3.34 - 4.25
Expected volatility	199% - 207	%