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5. Capital Stock | 3 Months Ended
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Sep. 30, 2013
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | 5. Capital Stock a) Authorized share capital 500,000,000 shares of common stock with a par value of $0.001 per share and 500,000,000 shares of preferred stock with a par value of $0.001 per share. b) Issued share capital On January 2, 2013, a consultant of the Company exercised their option to acquire 1,000,000 shares of common stock of the Company at an exercise price of $0.03 per share. As consideration, the Company recorded a reduction of $30,000 in accrued interest due and payable to a Director and Officer of the Company. c) Stock options On January 1, 2013, the Company granted options to acquire 1,000,000 shares of its common stock at an exercise price of $0.03 per share for a term of five years. The option was exercised on January 2, 2013. The compensation expense recognized related to the grant of the options was $29,983. On January 28, 2013, the Company granted consultants the option to acquire 2,300,000 shares of its common stock at an exercise price of $0.05 per share for a term of five years. The compensation expense related to the stock options, which vested was $50,465. The compensation expense related to the unvested stock options to be recognized upon vesting is $41,471. On March 26, 2013, the Company granted a consultant the options to acquire 500,000 shares of its common stock at an exercise price of $0.03 per share for a term of five years. The option does not vest until the consultant enters into a full-time employment or equivalent role with the Company. Therefore, no compensation expense related to these options has been recognized. On April 9, 2013, the Company granted two consultants each the respective and individual option to acquire 500,000 share of its common stock at an exercise price of $0.03 per share for a term of five years. The option does not vest for either consultant until the individuals enter into a full-time employment or equivalent role with the Company. Therefore, no compensation expense related to these options has been recognized. On May 1, 2013, the Company granted one consultant the option to acquire 2,000,000 shares of common stock of the Company at an exercise price of $0.03 per share for a period of five years. The compensation expense recognized related to this option grant was $99,937. A summary of stock option activity is as follows:
| Nine Months Ended | Year Ended
| September 30, 2013 (unaudited) | December 31, 2012
| Number of |  | Weighted Average | Number of |  | Weighted Average
| Options |  | Exercise Price | Options |  | Exercise Price
Outstanding, beginning of period | 125,000,000 | $ | 0.03 | 62,800,000 | $ | 0.04
Granted | 6,800,000 |  | 0.03 | 84,700,000 |  | 0.03
Exercised | (1,000,000) |  | 0.03 | (22,500,000) |  | (0.05)
Expired | - |  | - | - |  | -
Outstanding, end of period | 130,800,000 | $ | 0.04 | 125,000,000 | $ | 0.03
Exercisable, end of period | 128,400,000 | $ | 0.04 | 125,000,000 | $ | 0.03
The options outstanding at September 30, 2013 and December 31, 2012 were as follows:
| September 30, 2013 |  | December 31, 2012
Expiry Date | Options |  | Exercise Price |  | Intrinsic Value |  | Options |  | Exercise Price |  | Intrinsic Value
March 7, 2015 | 20,000,000 | $ | 0.05 | $ | - |  | 20,000,000 | $ | 0.05 | $ | -
March 31, 2015 | 1,200,000 | $ | 0.25 | $ | - |  | 1,200,000 | $ | 0.25 | $ | -
March 6, 2016 | 35,750,000 | $ | 0.05 | $ | - |  | 35,750,000 | $ | 0.05 | $ | -
May 4, 2016 | 1,000,000 | $ | 0.05 | $ | - |  | 1,000,000 | $ | 0.05 | $ | -
May 23, 2016 | 100,000 | $ | 0.05 | $ | - |  | 100,000 | $ | 0.05 | $ | -
May 27, 2017 | 700,000 | $ | 0.05 | $ | - |  | 700,000 | $ | 0.05 | $ | -
May 31, 2017 | 500,000 | $ | 0.05 | $ | - |  | 500,000 | $ | 0.05 | $ | -
August 16, 2017 | 500,000 | $ | 0.05 | $ | - |  | 500,000 | $ | 0.05 | $ | -
December 28, 2017 | 14,250,000 | $ | 0.05 | $ | - |  | 14,250,000 | $ | 0.05 | $ | -
December 28, 2017 | 51,000,000 | $ | 0.03 | $ | - |  | 51,000,000 | $ | 0.03 | $ | 0.01
January 28, 2018 | 2,300,000 | $ | 0.05 | $ | - |  | - | $ | - | $ | -
March 26, 2018 | 500,000 | $ | 0.03 | $ | - |  | - | $ | - | $ | -
April 9, 2018 | 1,000,000 | $ | 0.03 | $ | - |  | - | $ | - | $ | -
May 1, 2018 | 2,000,000 | $ | 0.03 | $ | - |  | - | $ | - | $ | -
Total | 130,800,000 | $ | 0.04 |  | - |  | 125,000,000 | $ | 0.04 |  |
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value for in-the-money options, based on the $0.03 (December 31, 2012: $0.03) closing stock price of the Company’s common stock on the NASDAQ over-the-counter market (OTC) on September 30, 2013. As of September 30, 2013, Nil (December 31, 2012: Nil) of the stock options outstanding were in-the-money. The Company uses the fair value method for determining stock-based compensation for all options granted during the fiscal periods. The fair value was determined using the Black-Scholes Option Pricing Model based on the following weighted average assumptions:
| September 30, 2013 (unaudited) |  | December 31, 2012
Risk-free interest rate | 2.52% |  | 2.52%
Expected life | 5 years |  | 5 years
Expected dividends | 0% |  | 0%
Expected volatility | 298% |  | 306%
Forfeiture rate | 0% |  | 0%
The weighted average fair value for the options granted during the nine months ended September 30, 2013 was $0.04 (December 31, 2012: $0.03). The compensation cost of the stock options granted was allocated as follows:
|  | Three months ended September 30, 2013 |  | Three months ended September 30, 2012 |  | Nine months ended September 30, 2013 |  | Nine months ended September 30, 2012
Interest expense: |  |  |  |  |  |  |  |
| Related parties | $ | - | $ | - | $ | - | $ | 2,616,602
Product development |  |  |  |  |  |  |  |
Unrelated parties | $ | 1,499 | $ | - | $ | 4,497 | $ | 1,749
Professional: |  |  |  |  |  |  |  |
| Unrelated parties | $ | - | $ | - | $ | 111,928 | $ | 20,989
General and administrative: |  |  |  |  |  |  |  |
| Related parties |  | - |  | 29,975 |  | - |  | 29,975
| Unrelated parties | $ | 5,996 | $ | - | $ | 63,959 | $ | 16,616

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. 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