Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE LIABILITY (Tables)

v3.10.0.1
DERIVATIVE LIABILITY (Tables)
9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative liability

The following assumptions were used in the Black-Scholes valuation model:

 

  Nine months
ended
September 30,
2018
 
Conversion price $ 0.08 to 0.25  
Risk free interest rate   1.78 to 2.81 %
Expected life of derivative liability   3 to 12 months  
Expected volatility of underlying stock   176.4 to 230.55 %
Expected dividend rate     0 %
         
Schedule of movement in derivative liability

The movement in derivative liability is as follows:

 

    September 30,
2018
    December 31,
2017
 
             
Opening balance   $ 3,277,621     $ 113,074  
Derivative financial liability arising from convertible note     2,194,618       2,834,413  
Fair value adjustment to derivative liability     (3,441,118 )     330,134  
Closing balance   $  2,031,121     $ 3,277,621