v2.4.0.8

7. Related Party Transactions (Tables)

3 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Schedule of Related Party Transactions [Table Text Block]

		Three months ended June 30, 2013		Three months ended June 30, 2012		Six months ended June 30, 2013		Six months ended June 30, 2012
DEVELOPMENT COSTS:
Consulting services rendered by an individual who is a director and officer of the Company	$	-	$	15,000	$	-	$	30,000
INTEREST EXPENSE:
Promissory notes issued to relatives of the Chairman		76,557		76,557		153,113		153,113
Lines of credit from the Chairman & Chief Executive Officer of the Company and his spouse		139,893		98,982		265,777		178,033
Stock options granted to Chairman & Chief Executive Officer of the Company		-		2,383,454		-		2,616,602
SELLING, GENERAL & ADMINISTRATIVE:
Consulting services rendered by the Chairman of the Board & Chief Executive Officer		47,400		47,400		94,800		94,800
Consulting services rendered by a member of the Board of Director in his capacity as management of the Company		31,500		-		63,000		-

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- 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.

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