Annual report pursuant to Section 13 and 15(d)

Derivative Liability (Tables)

v3.21.1
Derivative Liability (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Derivative Liability Tables Abstract  
Schedule of Derivative Liability Activity

The following table represents the Company's derivative liability activity for the year ended December 31, 2020:

 

    Year Ended
December 31,
    2020
Derivative liability balance, December 31, 2019   $ —    
Issuance of derivative liability during the period     1,514,000  
Change in derivative liability during the period     (132,000 )
Derivative liability balance, December 31, 2020   $ 1,382,000  

 

Summary of Average Assumptions Used in Valuing the Derivative Liability

The table below represents the average assumptions used in valuing the derivative liability at December 31, 2020:

 

    Year Ended
December 31,
    2020
Expected life in years     4.76 – 4.90  
Stock price volatility     180.45% - 182.99%  
Risk free interest rate     0.17 %
Expected dividends     —    
Forfeiture rate     —