v2.4.0.6

7. Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Related Party Transactions [Table Text Block]

		Three months ended March 31, 2013 (unaudited)		Three months ended March 31, 2012 (unaudited)
Development costs:
Consulting services rendered by an individual who is a director and officer of the Company	$	-	$	15,000
Interest expense:
Promissory notes issued to relatives of the Chairman		76,557		76,557
Lines of credit from Chairman and relatives of the Chairman		125,884		82,142
Stock options granted to Chairman of the Company		-		231,948
Selling, general and administration:
Consulting services rendered by an individual who is a director and officer of the Company		47,400		47,400

X

- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

+ References

No definition available.

+ Details

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