Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENT (Tables)

v3.20.4
FAIR VALUE MEASUREMENT (Tables)
3 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of fair value on recurring basis

The following table sets forth by level within the fair value hierarchy the Company’s derivative financial instruments that were accounted for at fair value on a recurring basis as of September 30, 2020 and December 31, 2020, respectively:

 

Description  

Quoted Prices in

Active Markets for

Identical Assets
(Level 1) 

   

Significant Other

Observable Inputs
(Level 2)

   

Significant Other

Unobservable

Inputs
(Level 3)

    Total Fair
Value as of
 
Derivative Financial Instrument at September 30, 2020   $       $ (1,070,551)     $       $ (1,070,551)  
                                 
Derivative Financial Instrument at December 31, 2020   $     $ (972,552)     $     $ (972,552)  
Schedule of change in derivative financial instruments

The change in derivative financial instruments for the three months ended December 31, 2020 is as follows:

 

September 30, 2020 balance   $ (1,070,551)  
New derivative instruments issued      
Derivative instruments extinguished     46,261  
Change in fair value     51,738  
December 31, 2020 balance   $ (972,552)