Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Financial instruments at fair value on a recurring basis
    At December 31, 2019     At December 31, 2018  
Description   Level 1     Level 2     Level 3     Level 1     Level 2     Level 3  
Derivative liabilities               $ 880,410                 $ 1,742,000  
Roll forward of the level 3 valuation financial instruments

A roll forward of the level 3 valuation financial instruments is as follows:

 

        December 31, 2019   
Balance at beginning of year   $ 1,742,000  
Initial fair value of derivative liabilities as debt discount     670,467  
Initial fair value of derivative liabilities as derivative expense     786,823  
Reduction through conversion of debt     (3,403,640 )
Change in fair value included in derivative loss     1,084,760  
Balance at end of year   $ 880,410  

 

     
    December 31, 2018 
 
Balance at beginning of year   $ 930,000   
Initial fair value of derivative liabilities as debt discount     236,500  
Initial fair value of derivative liabilities as derivative expense     232,500  
Reduction through conversion of debt     (90,855 )
Change in fair value included in derivative loss     433,855  
Balance at end of year   $ 1,742,000  

 

Anti-dilutive securities
    2019     2018  
Stock Options     4,671,280       959,375  
Stock Warrants     2,014,299       644,083  
Restricted stock to be issued upon vesting     3,583,328       -  
Convertible Preferred Stock     9,611,295       2,602,167  
Convertible Debt     3,027,778       22,134,849  
Total     22,907,980       26,340,474