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20. SUBSEQUENT EVENTS | 9 Months Ended
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Sep. 30, 2015
Subsequent Events [Abstract] |
20. SUBSEQUENT EVENTS | During the annual general meeting on October 5, 2015, the following were approved:
| a) | amendment to the Company’s Amended and Restated 2007 Equity Incentive Plan to increase the number of Shares of Common Stock authorized for issuance under the Plan by 6,000,000 shares; and
| b) | reincorporation of the Company from Delaware to Nevada which will be effected through the merger of the Company into a newly formed Nevada Corporation that is a wholly owned subsidiary of the Company.
The reincorporation will eliminate the Company’s obligation to pay the annual Delaware franchise tax resulting in significant savings to the Company in the long term. There will be no change in the Company’s business, management, employees, headquarters, benefit plans, assets, liabilities or net worth (other than as a result of the costs incidental to the reincorporation which is expected to be immaterial).

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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