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CONVERTIBLE PROMISSORY NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
SUMMARY OF OUTSTANDING PROMISSORY NOTES

The following is the summary of outstanding promissory notes as of December 31, 2021:

 

   Interest rate   Principal Amount     Net Proceeds   Warrants Shares   Maturity Date
Convertible Note- Tarlos Victory (Note 9 (b))   8%  $250,000     $197,000    200,000   October 27, 2022
Convertible Note-Mast Hill (Note 9 (b))   8%   750,000      601,000    600,000   November 5, 2022
Convertible Note-First Fire (Note 9 (b))   8%   250,000      197,000    200,000   November 16, 2022
Convertible Note-LGH Note 9 (b))   8%   250,000      207,000    200,000   November 24, 2022
Convertible Note -Fourth Man (Note 9 (b))   8%   250,000      197,000    200,000   November 29, 2022
Convertible Note-Jeffery Street Note 9 (b))   8%   250,000      197,000    200,000   December 2, 2022
Convertible Note -Blue Lake Note 9 (b))   8%   250,000      197,000    200,000   December 2, 2022
Total        2,250,000      1,793,000    1,800,000    
Debt Discounts        (225,000)               
Amortization of discounts for the year ended December 31, 2021        5,550               
Convertible Promissory Notes payable as of December 31, 2021       $

2,030,550

                

 

*The Company prepaid $10,000 legal deposit for each note till the repayment of the notes.
SCHEDULE OF FAIR VALUE OF WARRANTS

The fair values of these warrants as of December 31, 2021 were calculated using the Black-Scholes option-pricing model with the following assumptions:

 

                   December 31, 2021 
   Volatility (%)   Expected dividends yield (%)   Weighted average expected life (year)   Risk-free interest rate (%) (per annum)   Initial value of common stock purchase warrants liability (US$)   Changes of fair value of common stock purchase warrants liability (- (gains)/+ losses(US$)   Common stock purchase sarrants liability as of December 31, 2021(US$) 
Convertible Note- Tarlos Victory (Note 9 (a))   187.3%  $0.0%  $2.8    0.97%   311,649    (186,893)   124,756 
Convertible Note-Mast Hill (Note 9 (a))   187.3%   0.0%   2.8    0.97%   576,233    (201,077)   375,156 
Convertible Note-First Fire (Note 9 (a))   187.3%   0.0%   2.9    0.97%   196,037    (70,629)   125,408 
Convertible Note-LGH Note 9 (a))   187.3%   0.0%   2.9    0.97%   214,644    (88,980)   125,664 
Convertible Note -Fourth Man (Note 9 (ab))   187.3%   0.0%   2.9    0.97%   214,867    (89,046)   125,821 
Convertible Note-Jeffery Street Note 9 (a))   187.3%   0.0%   2.9    0.97%   187,338    (61,423)   125,915 
Convertible Note -Blue Lake Note 9 (a))   187.3%   0.0%   2.9    0.97%   187,338    (61,423)   125,915 
Total                    Total  1,888,106    (759,471)   1,128,635