Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.22.1
EQUITY (Tables)
3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
SCHEDULE OF COMMON STOCK PURCHASE WARRANTS ISSUED AND OUTSTANDING

Continuity of the Company’s common stock purchase warrants issued and outstanding is as follows:

 

    Warrants    

Weighted Average

Exercise Price

 
Outstanding at year ended December 31, 2019     57,043,837     $ 0.14  
Granted     18,650,000       0.15  
Exercised     (1,650,00 )     0.08  
Expired     (33,279,170 )     0.19  
Outstanding at December 31, 2020     40,764,667     $ 0.13  
Granted     6,400,000       0.08  
Expired     (2,873,833 )     0.11  
Outstanding at March 31, 2021     44,290,834     $ 0.12  
SCHEDULE OF WARRANTS ISSUANCE DURING PERIOD

The table below summarizes warrant issuances during the three months ended March 31, 2021, and year ended December 31, 2020:

 

    March 31, 2021    

December 31, 2020

 
Warrants granted:                
Board of Directors and Advisory Board service     750,000       5,250,000  
Pursuant to employment agreements           1,000,000  
Pursuant to financing arrangements     250,000       1,000,000  
Pursuant to consulting agreements           250,000  
Pursuant to loan agreements           11,150,000  
Pursuant to extinguishment of debt     5,400,000        
Total     6,400,000       18,650,000  
SCHEDULE OF FAIR VALUE OF ASSUMPTION

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

 

    March 31, 2021     December 31, 2020  
Risk-free interest rate     0.16% to 0.35 %     1.65% to 2.38 %
Expected life     2.0 to 3.0 years       1.0 to 3.0 years  
Expected dividend rate     0 %     0 %
Expected volatility     449% to 479 %     240% to 274 %