Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.22.2
EQUITY (Tables)
9 Months Ended
Sep. 30, 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     57,043,836     $ 0.14  
Granted     18,650,000       0.15  
Exercised     (1,650,000 )     0.08  
Expired     (33,279,170 )     0.19  
Outstanding at December 31, 2020     40,764,666     $ 0.13  
Granted     8,400,000       0.09  
Expired     (17,964,666 )     0.11  
Outstanding at September 30, 2021     31,200,000     $ 0.13  
SCHEDULE OF WARRANTS ISSUANCE DURING PERIOD

The table below summarizes warrant issuances during the nine months ended September 30, 2021, and year ended December 31, 2020:

 

    September 30, 2021     December 31, 2020  
Warrants granted:                
Board of Directors and Advisory Board service     2,250,000       5,250,000  
Pursuant to employment agreements           1,000,000  
Pursuant to financing arrangements     750,000       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     8,400,000       18,650,000  
SCHEDULE OF FAIR VALUE OF ASSUMPTION OF WARRANTS

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.

 

    September 30, 2021     December 31, 2020  
Risk-free interest rate     0.22% to 0.53 %   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     310% to 356 %     240% to 274 %