Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS AND BALANCES

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RELATED PARTY TRANSACTIONS AND BALANCES
6 Months Ended
Jun. 30, 2015
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
8.
RELATED PARTY TRANSACTIONS AND BALANCES
 
Due from related parties
 
(a)
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
 
(b)
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
 
(c)
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.