Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments and Fair Value (Tables)

v3.19.3.a.u2
Derivative Financial Instruments and Fair Value (Tables)
9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table sets forth the financial assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2019 and December 31, 2018:

 

    Level 1     Level 2     Level 3     Total  
As of December 31, 2018:                                
Embedded conversion options   $     -     $      -     $ 350,260     $ 350,260  
Total   $ -     $ -     $ 350,260     $ 350,260  
                                 
As of September 30, 2019:                                
Embedded conversion options   $ -     $ -     $ 455,336     $ 455,336  
Total   $ -     $ -     $ 455,336     $ 455,336  

Schedule of Changes in Liabilities with Level 3 of Fair Value

The following table reconciles the changes in the liabilities categorized within Level 3 of the fair value hierarchy for the nine months ended September 30, 2019:

 

Balance at December 31, 2018   $ 350,260  
Change in fair value of debentures     105,076  
Balance at September 30, 2019   $ 455,336