| Subsequent Events [Text Block] |
9. Subsequent Events
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a)
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the Company agreed to the following in exchange for amending the borrowing limit on its line of credit with the Chairman, increasing it from $4,000,000 to $5,500,000:
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i.
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grant options to acquire 83,333,500 shares of common stock of the Company at a price of $0.03 per share for a term of five years,
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ii.
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modify the exercise price of the option to acquire 35,750,000 shares of common stock of the Company, granted June 2012, from $0.05 per share to $0.03 per share,
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iii.
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modify the exercise price of the option to acquire 14,250,000 shares of common stock of the Company, granted December 2012, from $0.05 per share to $0.03 per share,
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iv.
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modify the exercise price of the option granted January 2011 to the spouse of the Chairman, to acquire 20,000,000 shares of common stock of the Company from $0.05 per share to $0.03 per share, and
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v.
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grant options to the spouse of the Chairman to acquire 26,666,700 shares of common stock of the Company at an exercise price of $0.03 per share for a term of five years.
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b)
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the Company reduced the exercise price of 3,200,000 stock options from $0.05 per share to $0.03 per share
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c)
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the Company allowed 500,000 stock options, with an exercise price of $0.03 per share, to vest. The options were previously to vest if the optionee entered into a full-time employment or equivalent role with the Company.
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