Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE LIABILITY (Tables)

v3.19.1
DERIVATIVE LIABILITY (Tables)
3 Months Ended
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of assumptions were used in the Black-Scholes valuation model

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

 

   

Three

months
ended
March 31,
2019

 
Conversion price   $ 0.009 to 0.20  
Risk free interest rate     2.34 to 2.59 %
Expected life of derivative liability     1 to 16 months  
Expected volatility of underlying stock     173.1% to 174.2 %
Expected dividend rate     0 %
Schedule of movement in derivative liability

The movement in derivative liability is as follows:

 

    March 31, 2019     December 31, 2018  
             
Opening balance   $ 1,833,672     $ 3,277,621  
Derivative financial liability arising from convertible notes     284,884       2,685,845  
Fair value adjustment to derivative liability     (542,525 )     (4,129,793 )
    $ 1,576,031     $ 1,833,672