• Filing Date: 2018-01-12
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
CONVERTIBLE NOTES (Tables)
9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Schedule of assumptions in Black-Scholes Model

The fair value of the described embedded derivative was determined using the Black-Scholes Model with the following assumptions:

 

(1) risk free interest rate of 0.10% to 0.45%
(2) dividend yield of 0%;
(3) volatility factor of 248% to 441%;
(4) an expected life of the conversion feature of 365 days; and
(5) estimated fair value of the Company’s common stock of $0.0001 to $0.008 per share.

 

Schedule of derivative activity

The following table represents the Company’s derivative liability activity for the nine months ended September 30, 2017: 

 

Balance at December 31, 2016   $ 1,525,135  
Revaluation due to insufficient shares available for issuance     (300,766 )
Valuation upon issuance of debts     2,048,072  
Conversion     (566,593 )
Change in derivative liability during the nine months ended September 30, 2017     (806,434 )
Balance September 30, 2017   $ 1,899,414