Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE NOTES PAYABLE (Tables)

v3.20.2
CONVERTIBLE NOTES PAYABLE (Tables)
6 Months Ended
Mar. 31, 2020
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     March 31, 2020  
Stock Price   $ 0.041     $ 0.025     $ 0.014  
Fixed Exercise Price   $ 0.050     $ 0.050     $ 0.050  
Volatility     138 %     110 %     113 %
Term (Years)     1.00       0.80       0.55  
Risk Free Rate     1.59 %     1.59 %     0.15 %

 

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:

 

    Conversions for the quarter ended December 31, 2019     December 31,2019     Conversions for the quarter ended
March 31, 2020
    March 31, 2020  
Stock Price   $ 0.030 – 0.034     $ 0.025     $ 0.014 – 0.022     $ 0.014  
Fixed Exercise Price   $ 0.050     $ 0.050     $ 0.050     $ 0.050  
Volatility     77 - 115 %     82 -111 %     89 -110 %     114 - 146 %
Term (Years)     0.50 - 0 .62       0.47 - 0.85       0.31 - 0.42       0.22 - 0.60  
Risk Free Rate     1.58 – 1.62 %     1.59 – 1.60 %     1.27 – 1.57 %     0.11 - 0.15 %
Schedule of convertible promissory notes

The Company’s convertible promissory notes consisted of the following as of March 31, 2020.

 

    Notes     Discount     Notes, Net of Discount  
Convertible Notes Payable   $ 3,483,299     $ (1,403,382 )   $ 2,079,917  
Total   $ 3,483,299     $ (1,403,382 )   $ 2,079,917