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4. Lines of Credit | 3 Months Ended
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Sep. 30, 2013
Linesof Credit Related Party [Abstract] |
Linesof Credit Related Party | 4. Lines of Credit The Company has two lines of credit as follows:
Creditor | Interest Rate | Borrowing Limit | Repayment Terms | Principal Outstanding | Accrued Interest | Total | Security | Purpose
Chairman | 1% | $4,000,000 | Due on Demand | $ 3,167,774 | $ 349,984 | $ 3,517,758 | General Security over Assets | Operations, Product Development
Spouse of Chairman | 1% | $2,000,000 | Due on Demand | 2,000,000 | 477,718 | 2,477,718 | General Security over Assets | Operations, Product Development
Total as at September 30, 2013 |  | $ 5,167,774 | $ 827,702 | $ 5,995,476 |  |
On March 6, 2011, the Chairman of the board of directors of the Company established a line of credit of up to $2,500,000, increased to $4,000,000 on January 29, 2013, with the Company. As consideration for the two lines of credit, to September 30, 2013 and December 31, 2012, the Company has granted 124,250,000 options.

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- Definition Description of a contractual arrangement, letter of credit, with a related party lenders, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line of credit. As consideration for the lines of credit the related parties are granted options. + References No definition available. + Details
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- Details
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