Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE NOTES PAYABLE (Tables)

v3.20.4
CONVERTIBLE NOTES PAYABLE (Tables)
3 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of convertible promissory notes

 The Company’s convertible promissory notes consisted of the following as of September 30, 2020 and December 31, 2020.

 

    September 30, 2020     December 31, 2020  
    Notes       Discount       Notes, Net 
of Discount
      Notes       Discount       Notes Net 
of Discount
   
Bridge Financing Notes   $ 227,000       $ (11,209 )     $ 215,791       $ 227,000       $ (6,344)       $ 220,656    
June 2019 Convertible Debenture     300,000         (54,178 )       245,822         0         0         0    
Total   $ 527,000       $ (65,387 )     $ 461,613       $ 227,000       $ (6,344)       $ 220,656    
Schedule of fair value embedded conversion feature

The fair value of the embedded conversion feature at September 30, 2020 was determined utilizing a Geometric Brownian Motion Stock Path Based Monte Carlo Simulation that utilized the following key assumptions:

 

            September 30, 2020  
Stock Price           $ 0.006  
Fixed Exercise Price           $ 0.05  
Volatility             122  %
Term (Years)             0.17  
Risk Free Rate             0.10 %