Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

24. Derivative Financial Liabilities (Tables)

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24. Derivative Financial Liabilities (Tables)
12 Months Ended
Dec. 31, 2018
Derivative Financial Liabilities Tables Abstract  
Schedule of total derivatives not designated as hedging instruments

The fair value of the Group’s interest rate derivatives is determined by Management using inputs based on bank quotes. The fair value of the Group’s convertible promissory notes derivatives is determined by Management using a valuation model based on certain inputs that are observable.

 

    2018     2017     2016  
Derivatives not designated as hedging instruments                        
Conversion feature on promissory notes   $ 476,572     $ 1,859,700     $ 794,235  
Total derivatives not designated as hedging instruments   $ 476,572     $ 1,859,700     $ 794,235  

Schedule of observable inputs used

The summary of the observable inputs used for the year ended December 31, 2018, 2017 and 2016 are as follow:

 

    Year ended
December 31,
2018
    Year ended
December 31,
2017
    Year ended
December 31,
2016
 
                   
Conversion price     $0.50 - $1.02       $1.30 - $1.80       $1.40 - $3.55  
Stock price     $0.50 - $1.02       $1.30 - $1.98       $1.80 - $3.55  
Risk-free interest rate     1.78% - 2.72%       0.82% - 1.90%       0.44% - 0.92%  
Expected term (in years)     0.02 - 1       0.01 - 1       0.01 - 1  
Average stock price volatility     92.29%       80.08%       100.60%