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CONVERTIBLE DEBT (Tables)
12 Months Ended
Dec. 31, 2020
CONVERTIBLE DEBT  
Summary of convertible debt

 

 

2020

 

 

2019

 

 

 

 

 

 

 

 

Beginning balance notes

 

 

1,500,000

 

 

 

365,513

 

New notes

 

 

540,000

 

 

 

1,500,000

 

Payments

 

 

(593,000

)

 

 

(365,513

)

Subtotal notes

 

 

1,447,000

 

 

 

1,500,000

 

Debt discount at year end

 

 

(494,973

)

 

 

(29,509

)

Convertible debt, net of discount

 

 

952,027

 

 

 

1,470,491

 

Schedule of summary of the changes in fair value

 

 

Amount

 

Balance on December 31, 2019

 

$

-

 

Issuances to debt discount

 

 

456,570

 

Change in fair value of derivative liabilities

 

 

4,158

 

Balance on December 31, 2020

 

$

460,728

 

 

 

 

December 31, 2020

 

Dividend yield

 

 

0

%

Expected volatility

 

140.4%-142.5

%

Risk free interest rate

 

0.11%-0.12

%

Contractual terms (in years)

 

1.00 – 1.04