Quarterly report pursuant to Section 13 or 15(d)

TERM LOAN AND CONVERTIBLE PROMISSORY NOTES (Tables)

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TERM LOAN AND CONVERTIBLE PROMISSORY NOTES (Tables)
3 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of fair value of the embedded conversion feature

The fair value of the embedded conversion feature was determined utilizing a Geometric Brownian Motion Stock Path Based Monte Carlo Simulation that utilized the following key assumptions:

 

    October 17,
2019
  December 31,
2019
 
Stock Price   $ 0.041   $ 0.025  
Fixed Exercise Price   $ 0.050   $ 0.050  
Volatility     138 %   110 %
Term (Years)     1.00     0.80  
Risk Free Rate     1.59 %   1.59 %

 

The fair value of the embedded conversion feature was determined utilizing a Geometric Brownian Motion Stock Path Based Monte Carlo Simulation that utilized the following key assumptions:

 

    Conversion for the quarters
ended December 31, 2019
  December 31,
2019
 
Stock Price   $ 0.030 – 0.034   $ 0.025  
Fixed Exercise Price   $ 0.050   $ 0.050  
Volatility     77- 115 %   82 -111 %
Term (Years)     0.5 - 0 .62     0.47 - 0.85  
Risk Free Rate     1.58 – 1.62 %   1.59 – 1.60 %
Schedule of convertible promissory notes

The Company’s convertible promissory notes consisted of the following as of December 31, 2019.

 

  Notes Discount Notes, Net of Discount
Convertible Notes Payable $ 4,147,548   $ (2,444,907 ) $ 1,702,641  
Total $ 4,147,548   $ (2,444,907 ) $ 1,702,641