DERIVATIVE ASSETS |
6 Months Ended |
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Sep. 30, 2020 | |
DERIVATIVE ASSETS | |
NOTE 6 - DERIVATIVE ASSETS |
NOTE 6 - DERIVATIVE ASSETS
On June 30, 2020, the Company entered into two call option agreements in connection with successfully completing an underwritten securities offering for a third party. Both derivative instruments grant the Company the right to purchase 92.4 million shares and 61.6 million shares, respectively, of such third party at an exercise price of $0.008115 and $0.0122, respectively. The expiration date of the call option agreements is October 1, 2020. The total value of the call options as of September 30, 2020, was $1,383. All call options are classified as derivative assets in the Condensed Consolidated Balance Sheet and measured at each reporting period using the Black-Scholes Model. The loss associated with these derivative instruments in the amount of $885 is recognized as a net loss on derivative instruments in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income The Company also realized a $123 loss on the call option agreements as a result of foreign exchange translation. |
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- References No definition available.
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- Definition The entire disclosure for derivatives and fair value of assets and liabilities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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