Derivative Liabilities |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Liabilities |
NOTE 9 – DERIVATIVE LIABILITIES
The convertible notes are accounted for as liabilities at the date of issuance and adjusted to fair value through earnings for the three months ended March 31, 2019. The Company recorded amortization for the discount to the convertible notes of $17,595 at March 31, 2019. As of March 31, 2019, the Company has unamortized discount balance of $66,905. The Company has recognized derivative liabilities of $101,925 at March 31, 2019. The loss resulting from the increase in fair value of this convertible instrument was $36,925 for the three months ended March 31, 2019.
The Company used the following assumptions for determining the fair value of the convertible instruments granted under the Black-Scholes option pricing model:
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