Annual report pursuant to Section 13 and 15(d)

Derivative Liability (Tables)

v3.8.0.1
Derivative Liability (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Conversion Feature Derivative Liability

The warrants expired in May of 2017. The gain resulting from the decrease in fair value of this convertible instrument was $1,237 and $2,815 for the years ended December 31, 2017 and 2016, respectively.

 

    Conversion
feature
derivative
liability 		    Warrant
liability 		    Total  
Balance at January 1, 2016   $ 614,035     $ 4,356     $ 618,391  
                         
Change in fair value included in earnings     (422,974 )     (3,119 )     (426,093 )
Net effect on additional paid in capital     (191,062 )     -       (191,062 )
Balance at December 31, 2016     -       1,237       1,237  
Change in fair value included in earnings     -       (1,237 )     (1,237 )
Balance at December 31, 2017   $ -     $ -     $ -  

Schedule of Assumptions for Fair Value of Convertible Instruments Granted Under Black-scholes Option Pricing Model

The Company used the following assumptions for determining the fair value of the convertible instruments granted under the Black-Scholes option pricing model:

 

    December 31, 2017     December 31, 2016  
Expected volatility     -       263.35 %
Expected term - years     -       0.35  
Risk-free interest rate     -       1.22 %
Expected dividend yield     -       -