Annual report pursuant to Section 13 and 15(d)

Derivative Liabilities

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Derivative Liabilities
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Derivative Liabilities

NOTE 9 – DERIVATIVE LIABILITIES

 

As described in Notes 7 and 8, the Company issued convertible notes and warrants that contained conversion features and a reset provisions. The accounting treatment of derivative financial instruments requires that the Company record fair value of the derivatives as of the inception date and to fair value as of each subsequent reporting date.