|Related Party Transactions Disclosure [Text Block]
RELATED PARTY TRANSACTIONS AND BALANCES
Due from related parties
| || |
As of June 30, 2015, the Company had advances receivable from the Chief Operating Officer (“COO”) and Chief Technology Officer (“CTO”) for $42,151 (December 31, 2014 $44,986). These advances are unsecured, bear interest at a rate of 1% based on the Canada Revenue Agency’s prescribed rate for such advances and are payable on demand in Canadian dollars.
The Company advanced funds to settle a tax assessment; the Company paid additional salary amounts that had not been made during the period; and, the Company reimbursed $37,837 ($44,000 CAD) related to various out-of-pocket costs they incurred on behalf of the Company, all of which resulted in a net advance of $42,151 as of June 30, 2015.
Issuance of shares to settle due to related party
| || |
During the nine months ended December 31, 2014, one advance amounting to $85,947 ($95,000 CAD) was settled by issuance of 105,555 pre-merger common shares to a former director.
Accounts payable and accrued liabilities
| || |
As at June 30, 2015, $6,567 (December 31, 2014 - $4,220) was owing to the CEO, $7,448 (December 31, 2014 - $5,930) owing to the CTO and $22,115 owing to the COO and $8,893 owing to the CFO, related to business expenses, all of which are included in accounts payable.