Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE NOTES PAYABLE (Tables)

v3.21.2
CONVERTIBLE NOTES PAYABLE (Tables)
9 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
The Company’s convertible promissory notes consisted of the following as of September 30, 2020, and June 30, 2021

 The Company’s convertible promissory notes consisted of the following as of September 30, 2020, and June 30, 2021

                                                 

 

 

September 30, 2020

 

 

June 30, 2021

 

 

 

Notes

 

 

Discount

 

 

Notes, Net 
of Discount

 

 

Notes

 

 

Discount

 

 

Notes Net 
of Discount

 

Bridge Financing Notes

 

$

227,000

 

 

$

(11,209)

 

 

$

215,791

 

 

$

227,000

 

 

$

(72,181)

 

 

$

154,819

 

Bridge Financing Note to Related Party included in Loans from Related Parties

 

 

50,000

 

 

 

 

50,000

 

 

 

50,000

 

 

 

 

 

50,000

 

June 2019 Convertible Debenture

 

 

300,000

 

 

 

(54,178)

 

 

 

245,822

 

 

 

 

 

 

 

 

 

 

Total

 

$

577,000

 

 

$

(65,387)

 

 

$

511,613

 

 

$

277,000

 

 

$

(72,181)

 

 

$

204,819

 

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:

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

%