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Derivative Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Liability

The fair value of the derivative liabilities for Milestone II Convertible Notes was calculated using the Black-Scholes model using the following assumptions:

Schedule of Fair Value of Derivative Liability

		26-May-21				31-Dec-20
Expected life			0.46				0.92
Volatility (based on comparable company)			101.32	%			120.38	%
Risk free interest rate			0.04	%			0.1	%
Dividend yield			-				-

Schedule of Derivative Liability Measured at Fair Value on a Recurring Basis

The following table provides a reconciliation of the beginning and ending balances for the Company’s derivative liabilities measured at fair value on a recurring basis using Level 3 inputs:

Schedule of Derivative Liability Measured at Fair Value on a Recurring Basis

Fair value, December 31, 2020		$	41,000
Extinguishment of derivative upon debt settlement			(25,000	)
Net gain from change in fair value			(16,000	)
Fair value, December 31, 2021		$	-

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- References

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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of derivative liabilities at fair value.

+ References

No definition available.

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