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SUPPLEMENTAL CASH FLOW INFORMATION AND NON-CASH INVESTING AND FINANCING ACTIVITIES
 12 Months Ended
Dec. 31, 2011
SUPPLEMENTAL CASH FLOW INFORMATION AND NON-CASH INVESTING AND FINANCING ACTIVITIES

Note 11: SUPPLEMENTAL CASH FLOW INFORMATION AND NON-CASH INVESTING AND FINANCING ACTIVITIES

 

    Year Ended
December 31, 2011		  
    Shares/warrants     Amount  
             
Prepaid portion of fair value of shares issued pursuant to consulting service agreements     -     $ 35,968  
Shares issued pursuant to consulting arrangements     2,971,464       646,408  
Shares issued pursuant to debt settlement agreements     3,953,413       755,777  
Accounts payable settled by issuing shares     1,029,413     $ 200,736  

 

    Year Ended
December 31, 2010		  
    Shares/warrants     Amount  
             
Accounts payable settled by issuing share purchase warrants     750,000     $ 432,000  
Accounts payable settled by issuing shares     361,648       90,412  
Share purchase warrants issued pursuant to consulting service arrangement     1,200,000     $ 615,000  

 

Pursuant to the 2010 Note settlement and warrant extinguishment agreements entered during the period, the Company issued February 2011 Notes in the amount of $240,000 of which, $80,000 was deemed to be for partial settlement of the 2010 Series A, Series B and Series C warrants (Note 5).

 

 

Pursuant to the warrant extinguishment agreement entered during the period, the Company issued an April 2011 Note in the amount of $25,000, which was for partial settlement of the 2010 Series A, Series B and Series C warrants (Note 5).

 

See Notes 5 and 9 for additional disclosure on non-cash transactions.

    Year Ended December 31,  
    2011     2010  
             
Interest paid in cash   $ -     $ -  
Income taxes paid   $ -     $ -