Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.21.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2021
Investments, All Other Investments [Abstract]  
Schedule of Valuation of Financial Instruments at Fair Value on a Recurring Basis

The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balance sheet as of March 31, 2021 and December 31, 2020, respectively:

 

    Fair Value Measurements at March 31, 2021  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 875,004     $ -     $ -  
Right-of-use asset     -       -       183,804  
Total assets     875,004       -       183,804  
Liabilities                        
Lease liabilities     -       -       190,561  
Notes payable     -       388,762       -  
Total liabilities     -       (388,762 )     (190,561 )
    $ 875,004     $ (388,762 )   $ (6,757 )

 

    Fair Value Measurements at December 31, 2020  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 28,920     $ -     $ -  
Right-of-use asset     -       -       195,029  
Total assets     28,920       -       195,029  
Liabilities                        
Lease liabilities     -       -       201,520  
Notes payable     -       334,841       -  
Total liabilities     -       334,841       201,525  
    $ 28,920     $ (334,841 )   $ (6,496 )