v2.4.0.8
7. Related party transactions and balances
 3 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
7.    Related Party Transactions

Related party transactions included the following:

 
 
Three months ended
March 31, 2014
(unaudited)
   
Three months ended
March 31, 2013
(unaudited)
 
Interest expense:
 
   
 
Promissory notes issued to relatives of the Chairman
 
$
76,557
   
$
76,557
 
Lines of credit from Chairman and relatives of the Chairman
   
170,629
     
125,884
 
 
General, selling and administration:
               
Consulting fees to a Company controlled by director of the
Company in his role as a consultant to the Company
   
31,500
     
20,000
 
Consulting services rendered by an individual who is a director
and officer of the Company
   
47,400
     
47,400
 

Except as discussed in the next paragraph, all transactions with related parties were incurred in the normal course of operations and measured at the exchange amount, which is the amount of consideration established and agreed upon by the transacting parties.

Interest on promissory notes payable to related parties, management compensation and compensation paid to a relative of a director have been recorded at the exchange amount, which is the amount agreed to by the parties. Options granted to related parties have been recorded at their estimated fair value.

Included in accounts payable is $10,666 (2013 - $nil) due to a company controlled by a Director of the Company.