Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value Assumptions Related to Option Issued

The Company estimates the fair value of these derivative liabilities using the Black-Scholes valuation model. The initial value is used in the determination of a note discount with each subsequent change in fair value as a component of operations. The range of fair value assumptions used for derivative financial instruments during the nine-months ended September 30, 2019, were as follows:


Dividend yield   0.0%
Risk-free rate   1.75% - 2.44%
Volatility   102% - 137%
Expected term   1 year


The following table presents the three-level hierarchy prescribed by U.S. GAAP for derivative liabilities since it is a liability that is measured and recognized at fair value on a recurring basis as of:


    Level 1     Level 2     Level 3  
September 30, 2019     -       -     $ 246,414