Annual report pursuant to Section 13 and 15(d)

CONVERTIBLE NOTES PAYABLE (Tables)

v3.21.4
CONVERTIBLE NOTES PAYABLE (Tables)
12 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
The Company’s convertible promissory notes consisted of the following as of September 30, 2021 and 2020.

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

 

    September 30, 2021     September 30, 2020  
    Notes       Discount       Notes, Net
of Discount
      Notes       Discount       Notes Net
of Discount
   
Bridge Financing Notes   $ 227,000       $ (50,337 )     $ 176,663       $ 227,000       $ (11,209 )     $ 215,791    
Delek Note                                                
June 2019 Convertible Debenture                             300,000         (54,178 )       245,822    
Total   $ 227,000       $ (50,337 )     $ 176,663       $ 527,000       $ (65,387 )     $ 461,613    
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:

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:

 

      September 30, 2020  
Stock Price   $ 0.006  
Fixed Exercise Price   $ 0.050  
Volatility     127 %
Term (Years)     0.05  
Risk Free Rate     0.08 %
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:

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
twelve months ended

September 30, 2020
   
September 30,
2020
 
Stock Price     $0.006 – $0.034       $0.006  
Fixed Exercise Price     0.050       $0.05  
Volatility     77 - 284 %     122 %
Term (Years)     0.01 - 0.62       0.17  
Risk Free Rate     0.081.62 %     .10 %