Annual report pursuant to Section 13 and 15(d)

DERIVATIVE LIABILITY (Tables)

v3.19.1
DERIVATIVE LIABILITY (Tables)
12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative liability

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

 

    Year ended
December 31,
2018
    Year ended
December 31,
2017
 
Conversion price   $ 0.02 to 0.25     $ 0.08 to 0.40  
Risk free interest rate      1.78 to 2.81 %     1.05 to 1.98 %
Expected life of derivative liability     3 to 12 months       9 to 36 months  
Expected volatility of underlying stock     169.15 to 230.55 %     134.1 to 202.3 %
Expected dividend rate     0 %     0 %
Schedule of movement in derivative liability

The movement in derivative liability is as follows: 

 

   

December 31,  

 2018  

   

December 31,  

2017  

 
                 
Opening balance   $ 3,277,621     $ 113,074  
Derivative financial liability arising from convertible note     2,685,845       2,834,413  
Fair value adjustment to derivative liability     (4,129,793     330,134  
    $ 1,833,672     $ 3,277,621