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CONVERTIBLE DEBT (Tables)
12 Months Ended
Dec. 31, 2021
CONVERTIBLE DEBT  
Summary of convertible debt

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Beginning balance convertible notes

 

$1,447,000

 

 

$1,500,000

 

New notes

 

 

625,000

 

 

 

540,000

 

Payments

 

 

(907,000 )

 

 

(593,000 )

Conversion to common stock

 

 

(525,000 )

 

 

-

 

Subtotal notes

 

 

640,000

 

 

 

1,447,000

 

Debt discount at year end

 

 

(258,938 )

 

 

(494,973 )

Convertible note payable, net of discount

 

$381,062

 

 

$952,027

 

 

 

Amount

 

Balance on January 1, 2020

 

$-

 

Issuances to debt discount

 

 

456,570

 

Change in fair value of derivative liabilities

 

 

4,158

 

Balance on December 31, 2020

 

 

460,728

 

Issuances to debt discount

 

 

62,619

 

Reduction of derivative related to conversions

 

 

(284,169 )

Change in fair value of derivative liabilities

 

 

(193,513 )

Balance on December 31, 2021

 

$45,665

 

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Dividend yield

 

 

0%

 

 

0%

Expected volatility

 

106.8%-107.3

%

 

140.4%-142.5

%

Risk free interest rate

 

0.41%-0.44

%

 

0.11%-0.12

%

Contractual terms (in years)

 

.50 - .52

 

 

1.00 – 1.04