| Schedule of warrant liability |
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Issuance date(1)
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Issuance date(2)
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Issuance date(3)
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Issuance date(4)
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Issuance date(5)
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Issuance date(6)
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Black -Scholes Assumptions
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March 11, 2021
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February 3, 2021
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December 24, 2020
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March 18, 2020
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September 10, 2019
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November 6, 2019
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Exercise Price(1)(2)
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$
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0.125 – 0.15
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$
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0.08
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$
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0.08
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$
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0.04
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$
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0.014
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$
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0.014
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Warrant Expiration Date (1)(2)
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March 11, 2026
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February 3, 2024
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December 24, 2020
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March 18, 2023
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September 10, 2022
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November 6, 2022
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Stock Price (3)
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$
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0.10
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$
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0.08
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$
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0.08
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$
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0.04
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$
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0.014
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$
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0.014
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Interest Rate (annual) (4)
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0.17
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%
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0.18
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%
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0.17
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%
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0.66
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%
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1.61
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%
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1.60
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%
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Volatility (annual) (5)
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172.54
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%
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171.71
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%
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172.54
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%
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137.41
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%
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139.84
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%
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138.48
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%
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Time to Maturity (Years)
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5.0
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3.0
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3.0
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3.0
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3.0
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3.0
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Calculated fair value per share
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0.93 -0.0094
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0.690703
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0.0692188
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$
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0.0307299
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$
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0.01091
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$
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0.1095
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Future Estimated Quarterly Dividend per share(6)
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$
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—
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$
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—
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$
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—
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Significant inputs into the model at the reporting period measurement dates are as follows:
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Black-Scholes Assumptions
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March 31, 2021
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March 31, 2021
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March 31, 2021
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March 31, 2021
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March 31, 2021
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Exercise Price
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$
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0.08 – 0.15
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$
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0.08
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$
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0.04
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$
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0.014
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$
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0.014
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Warrant Expiration Date
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February 3, 20201 and March 11, 2021
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December 24, 2020
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March 18, 2023
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September 10, 2022
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November 6, 2022
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Stock Price (7)
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$
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0.10
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$
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0.08
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$
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0.04
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$
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0.014
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$
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0.014
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Interest Rate (annual) (8)
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0.17
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%
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0.17
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%
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0.17
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%
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0.17
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%
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1.17
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%
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Volatility (annual) (9)
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170.53
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%
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170.53
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%
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170.53
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%
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170.53
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%
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170.53
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%
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Time to Maturity (Years)
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2.85-4.95
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2.73
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1.96
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1.60
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1.45
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Calculated fair value per share
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0.0936578 – 0.0930702
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0.0692188
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$
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0.0307299
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$
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0.01091
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$
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0.1095
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Future Estimated Quarterly Dividend per share(10)
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—
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—
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$
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—
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$
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—
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December 31,
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December 31,
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December 31,
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December 31,
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Black-Scholes Assumptions
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2020
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2020
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2020
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2020
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Exercise Price
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$
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0.08
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$
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0.04
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$
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0.014
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$
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0.014
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Warrant Expiration Date
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December 24, 2020
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March 18, 2023
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September 10, 2022
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November 6, 2022
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Stock Price
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$
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0.08
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$
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0.04
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$
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0.014
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$
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0.014
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Interest Rate (annual) (7)
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0.17
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%
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0.13
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%
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0.13
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%
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1.13
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%
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Volatility (annual) (8)
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172.38
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%
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172.38
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%
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172.38
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%
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172.38
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%
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Time to Maturity (Years)
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2.98
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2.21
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1.85
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1.69
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Calculated fair value per share
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0.0692188
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$
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0.0307299
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$
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0.01091
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$
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0.1095
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Future Estimated Quarterly Dividend per share(9)
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$
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—
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$
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—
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$
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—
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(1)
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Based on the terms provided in the warrant agreement related to the issuance of common stock of on March 11th, 2021
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(2)
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Based on the terms provided in the warrant agreement related to the issuance of common stock of on February 3rd, 2021
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(3)
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Based on the terms provided in the warrant agreement related to the issuance of common stock of on December 24th, 2020
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(4)
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Based on the terms provided in the warrant agreement related to the issuance of common stock of on March 18th, 2020
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(5)
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Based on the terms provided in the warrant agreement related to the issuance of common stock of on September 10th, 2019
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(6)
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Based on the terms provided in the warrant agreement related to the issuance of common stock of on November 6th, 2019
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(7)
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Based on the observable transaction value of common stock of per the most recent stock issuance financing agreements.
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(8)
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Interest rate for U.S. Treasury Bonds, as of the issuance dates and each presented period ending date, as published by the U.S. Federal Reserve.
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(9)
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Based on the historical daily volatility of Guideline Public Companies and each presented period ending date.
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(10)
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Current estimated dividend payments beyond initial four quarters. At a future date, the company will review the working capital needs and make a final determination of any future dividend payments.
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The warrants outstanding and fair values at each of the respective valuation dates are summarized below:
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Warrants
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Fair Value
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Warrant Liability
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Outstanding
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per Share
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Fair Value
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Fair Value as of period ending 12/31/19
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5,250,000
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$
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0.01086
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$
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56
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Fair Value at initial measurement date
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1,805,000
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$
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0.03616
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$
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65
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Change in fair value of warrant liability
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2
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Fair Value as of period ending 12/31/20
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7,055,000
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$
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123
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Fair Value at initial measurement dates
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1,460,000
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$
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0.08273
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$
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130
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Change in fair value of warrant liability
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(6)
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Fair Value as of period ending 3/31/2021
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8,515,000
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$
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247
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