Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.21.2
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2020
Investments, All Other Investments [Abstract]  
Schedule of Derivative Liabilities

A summary of the activity of the Company’s derivative liabilities is shown below:

 

Balance, January 1, 2019   $ 37,013  
Additions      
Fair value adjustments     (12,504 )
As at December 31, 2019     24,509  
Additions     144,259  
Fair value adjustment     29,369  
As at September 30, 2020   $ 198,137  

Schedule of Derivative Liability of Fair Value Assumption

Derivative liability classified warrants were valued using the Black Scholes Option Pricing Model with the range of assumptions outlined below. Expected life was determined based on historical exercise data of the Company.

 

    September 30, 2020     December 31, 2019  
Risk-free interest rate     2.27 %     1.58% - 2.27 %
Expected life     2.1 years       1.4 – 2.1 years  
Expected dividend rate     0 %     0 %
Expected volatility     208 %     208% - 240 %