Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS AND BALANCES

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RELATED PARTY TRANSACTIONS AND BALANCES
3 Months Ended
Jun. 30, 2016
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, 2016, the Company had advances receivable from the Chief Operating Officer (“COO”) and former Chief Technology Officer (“CTO”) for $41,623 (March 31, 2016 – $41,445). 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 accrued interest receivable in the amount of $392 (March 31, 2016 - $1,148); the remaining fluctuation in the balance from the prior year is due to foreign exchange.
 
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.
 
Accounts payable and accrued liabilities
 
(b)
As at June 30, 2016, $1,118 (March 31, 2016 - $2,694) was owing to the CEO, $Nil (March 31, 2016 - $3,284) owing to the former CTO and $16,941 owing to the COO (March 31, 2016 - $8,812) and $Nil owing to the CFO (March 31, 2016 - $116), and $102 owing to our VP US Operations related to business expenses, all of which are included in accounts payable.