Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value Assumptions Related to Option Issued

The range of fair value assumptions used for derivative financial instruments were as follows for the:

	Three-months ended March 31, 2021			Year ended December 31, 2020
Dividend yield		0	%		0	%
Risk-free rate		0.07	%		0.10% - 1.43	%
Volatility		158	%		147% - 190	%
Expected term		1 year			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		Change in Fair Value

December 31, 2020	$	-	$	-	$	235,165	$	(222,707	)
March 31, 2021	$	-	$	-	$	412,163	$	176,998

Schedule of Recognized Derivative Liabilities

The Company recognized derivative liabilities as follows:

Derivative liabilities as of January 1, 2020	$	827,314
Valuation upon issuance		433,672
Revaluation upon modification		(344,137	)
Change in fair value		(222,707	)
Elimination upon extinguishment		(458,977	)
Derivative liabilities as of December 31, 2020		235,165
Change in fair value		176,998
Derivative liabilities as of March 31, 2021	$	412,163

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details