Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE NOTES PAYABLE (Tables)

v3.20.2
CONVERTIBLE NOTES PAYABLE (Tables)
9 Months Ended
Jun. 30, 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       June 30, 2020  
Stock Price   $ 0.041     $ 0.008  
Fixed Exercise Price   $ 0.050     $ 0.050  
Volatility     138 %     184 %
Term (Years)     1.00       0.30  
Risk Free Rate     1.59 %     0.16 %

 

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 nine months ended
June 30, 2020
      June 30, 2020  
Stock Price   $ 0.014 – 0.034     $ 0.008  
Fixed Exercise Price   $ 0.050     $ 0.05  
Volatility     77-284% %     203 %
Term (Years)     0.01 - 0.62       0.14  
Risk Free Rate     0.13 – 1.62 %     0.16 %
Schedule of convertible promissory notes

The Company’s convertible promissory notes consisted of the following as of June 30, 2020. 

 

    Notes     Discount     Notes, Net of Discount  
Convertible Notes Payable   $ 3,347,549     $ (442,900)     $ 2,904,649  
Total   $ 3,347,549     $ (442,900)     $ 2,904,649