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DERIVATIVE INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Derivative Instruments Tables  
Schedule of Changes in Level 3 Financial Liabilities

The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities as of December 31, 2017 and 2016:


 

 

 

 

Total

 

Balance, December 31, 2015

 

 

 

 

-

 

Recognition of derivative liabilities upon initial valuation

 

 

 

 

40,892

 

Change in fair value of derivative liabilities

 

 

 

 

35,403

 

Conversions of derivative liabilities into equity instruments

 

 

 

 

-

 

Balance, December 31, 2016

 

 

 

 

76,295

 

Recognition of derivative liabilities upon initial valuation

 

 

 

 

226,651

 

Change in fair value of derivative liabilities

 

 

 

 

60,734

 

Conversions of derivative liabilities into equity instruments

 

 

 

 

-

 

Balance, December 31, 2017

 

 

 

 

363,680

 

 

Schedule of Liabilities Measured at Fair Value on Recurring Basis

Liabilities measured at fair value on a recurring basis are summarized as follows:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

Derivative Liabilities

 

 

-

 

 

 

-

 

 

 

363,680

 

 

 

363,680

Total

 

$

-

 

 

$

-

 

 

$

363,680

 

 

$

363,680