Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on a Recurring Basis |
The
following table provides a summary of the changes in fair value, including net transfers in and/or out, of all Level 3 liabilities measured
at fair value on a recurring basis using unobservable inputs during the three and six months ended June 30, 2022 and 2021:
Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on a Recurring Basis
| |
Accrued | | |
Accrued | | |
| |
| |
Interest | | |
Compensation | | |
Total | |
| |
| | |
| | |
| |
Balance - January 1, 2022 | |
$ | 402,344 | | |
$ | 61,306 | | |
$ | 463,650 | |
| |
| | | |
| | | |
| | |
Change in fair value | |
| 33,609 | | |
| (412 | ) | |
| 33,197 | |
Accrual of warrant obligation | |
| 114,727 | | |
| - | | |
| 114,727 | |
| |
| | | |
| | | |
| | |
Accrual of common stock obligation | |
| - | | |
| 7,097 | | |
| 7,097 | |
| |
| | | |
| | | |
| | |
Balance - March 31, 2022 | |
| 550,680 | | |
| 60,894 | | |
| 611,574 | |
| |
| | | |
| | | |
| | |
Change in fair value | |
| 29,658 | | |
| 74 | | |
| 29,732 | |
| |
| | | |
| | | |
| | |
Balance - June 30, 2022 | |
$ | 580,338 | | |
$ | 60,968 | | |
$ | 641,306 | |
| |
Accrued | | |
Accrued | | |
| |
| |
Interest | | |
Compensation | | |
Total | |
| |
| | |
| | |
| |
Balance - January 1, 2021 | |
$ | 539,836 | | |
$ | 84,953 | | |
$ | 624,789 | |
| |
| | | |
| | | |
| | |
Change in fair value | |
| 41,607 | | |
| 97 | | |
| 41,704 | |
Issuance of warrants | |
| (82,350 | ) | |
| - | | |
| (82,350 | ) |
| |
| | | |
| | | |
| | |
Balance - March 31, 2021 | |
| 499,093 | | |
| 85,050 | | |
| 584,143 | |
| |
| | | |
| | | |
| | |
Change in fair value | |
| 37,994 | | |
| (9 | ) | |
| 37,985 | |
Accrual of warrant obligation | |
| 164,857 | | |
| - | | |
| 164,857 | |
Accrual of common stock obligation | |
| - | | |
| 7,097 | | |
| 7,097 | |
| |
| | | |
| | | |
| | |
Balance - June 30, 2021 | |
$ | 701,944 | | |
$ | 92,138 | | |
$ | 794,082 | |
|
Schedule of Assumptions Used for Valuation of Level 3 Liabilities |
In
applying the Black-Scholes option pricing model utilized in the valuation of Level 3 liabilities, the Company used the following approximate
assumptions:
Schedule of Assumptions Used for Valuation of Level 3 Liabilities
| |
For the Three Months Ended | | |
For the Six Months Ended | |
| |
June 30, | | |
June 30, | |
| |
2022 | | |
2021 | | |
2022 | | |
2021 | |
| |
| | |
| | |
| | |
| |
Risk-free interest rate | |
| 3.00%-3.01 | % | |
| 0.67%-0.87 | % | |
| 2.42%-3.01 | % | |
| 0.64%-0.92 | % |
Expected term (years) | |
| 4.00-5.00 | | |
| 4.00-5.00 | | |
| 4.00-5.00 | | |
| 4.00-5.00 | |
Expected volatility | |
| 90 | % | |
| 90 | % | |
| 90 | % | |
| 90 | % |
Expected dividends | |
| 0.00 | % | |
| 0.00 | % | |
| 0.00 | % | |
| 0.00 | % |
|