Quarterly report pursuant to Section 13 or 15(d)

Derivative Liabilities

Derivative Liabilities
3 Months Ended
Mar. 31, 2021
Derivative Liability [Abstract]  
Derivative Liabilities



The derivative liabilities at December 31, 2020 consisted of a True-Up Payment provision of the Series 2 Preferred Stock (See Note 8). The True-Up payment was valued at March 31, 2021 and was determined to have a value of 0; however, the True-Up Payment has not been settled. See Note 12 for further discussion of this matter.


The table presented below is a summary of changes in the fair market value of the Company’s Level 3 valuations for the three months ended March 31, 2021.


    True-Up Payment  
Balance at December 31, 2020   $ 184,800  
Change in fair value during the period     (184,800 )
Balance at March 31, 2021   $