Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.19.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Conversion Option was Calculated Using Binomial Lattice Formula

The fair value of the conversion option was calculated using a binomial lattice formula with the following range of assumptions during the three months December 31, 2018:

 

    At Inception     December 31, 2018  
Common Stock Estimated Fair Value   $ 0.05     $ 0.02  
Conversion Price per share      0.05-0.10        0.015-0.25  
Conversion Shares     3,125,000       -  
Call Option Value      0.0104 to 0.0226        0.00 to 0.013  
Dividend Yield     0.00 %     0.00 %
Volatility     120.00 %     68.10 %
Risk-free Interest rate     0.68 %     2.51% to 2.63 %
Contractual Term      0.75 to 1.00 years        .58 to .90 years  

Schedule of Changes in Fair Value of Level 3 Financial Liabilities Measured at Fair Value on Recurring Basis

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities that are measured at fair value on a recurring basis for the three months ended December 31, 2018:

 

Balance - Beginning of period   $ 472,670  
Aggregate fair value of derivative instruments issued     -  
Transfers out upon payoff of notes payable     -  
Change in fair value of derivative liabilities     (86,403 )
Balance - End of period   $ 386,267