v3.22.1
DERIVATIVE LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
SCHEDULE OF FAIR VALUE ASSUMPTION

The following table presents the assumptions used in the Black-Scholes Simulation models to determine the fair value of the derivative liabilities as of December 31, 2021 and 2020:

 

  

December 31, 2021

(Black-Scholes)

 
Risk-free interest rates   0.19%
Expected life (years)   1.00 year 
Expected dividends   0%
Expected volatility   283%

 

  

December 31, 2020

(Black-Scholes)

 
Risk-free interest rates   0.21%
Expected life (years)   01.00 years 
Expected dividends   0%
Expected volatility   467%
SCHEDULE OF CHANGES IN DERIVATIVES LIABILITIES

The following table provides a roll-forward of the fair values of the Company’s derivative liabilities for the years ended December 31, 2021 and 2020:

 

   Year Ended
December 31, 2021		 
Balance – December 31, 2020  $23,798,241 
Additional new conversion option derivatives   1,910,471 
Conversion of note derivatives   (20,681,004)
Reclass to additional paid-in capital   (428,733)
Change in fair market value of derivative liabilities   1,731,229 
Balance – December 31, 2021  $6,758,937 

 

   Year Ended
December 31, 2020		 
Balance – December 31, 2019  $5,359,442 
Issuance of new derivative liabilities   7,272 
Reclass to additional paid-in capital   (428,733)
Change in fair market value of derivative liabilities   18,860,260 
Balance – December 31, 2020  $23,798,241