Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments and Fair Value Measurements (Tables)

v3.10.0.1
Derivative Financial Instruments and Fair Value Measurements (Tables)
3 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

Convertible Debt

 

   

Initial Valuations

(on new derivative
instruments
entered into during
the
three months ended

September 30, 2018)

    September 30, 2018  
Volatility     294.92 %     376.75% – 351.70 %
Expected Remaining Term (in years)     1       .62 - .91  
Risk Free Interest Rate     2.47 %     2.36% - 2.59 %
Expected dividend yield     None       None  

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018:

 

    Balance at
September 30, 2018
   

Quoted Prices

in Active

Markets for

Identical Assets

   

Significant

Other

Observable Inputs

   

Significant

Unobservable Inputs

 
          (Level 1)     (Level 2)     (Level 3)  
Embedded conversion option liabilities   $ 157,377     $     $     $ 157,377  
Total   $ 157,377     $     $     $ 157,377  

Schedule of Derivative Liabilities at Fair Value

The following is a roll forward for the three months ended September 30, 2018 of the fair value liability of price adjustable derivative instruments:

 

    Fair Value of  
    Liability for  
    Derivative  
    Instruments  
Balance at June 30, 2018   $ 371,532  
Reductions due to conversions     (1,388,764 )
Reductions due to repayment of debt     (846,507 )
Initial fair value of embedded conversion option derivative liability recorded as debt discount     50,000  
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option     346,380  
Change in fair value included in statements of operations     1,624,736  
Balance at September 30, 2018   $ 157,377