12. SHARE CAPITAL

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

SHARE CAPITAL

The Company is authorized to issue 300,000,000 shares of $0.0002 par value common stock. As of September 30, 2013 and December 31, 2012, 65,394,510 and 62,277,766 shares were issued and outstanding, respectively.  During the period ended September 30, 2013, the Company:

●   Issued 200,000 common shares for cash proceeds of $7,000. As part of this transaction the Company also received an additional $2,677 in cash for the subscription of 76,485 common shares valued at $0.035 which remain unissued;

●   Issued 942,784 common shares at an average price of $0.053 as settlement of $50,000 in consulting fees owing to an unrelated party;

●   Issued 1,000,000 common shares valued at $0.035 as settlement of $35,000 in related party loans. As part of this transaction the Company also settled $15,000 in related party loans for the subscription of 428,571 common shares valued at $0.035 which remain unissued.

●   Issued 973,960 common shares valued at $0.035 as settlement of loans from shareholder in the amount of $34,091. As part of this transaction the Company also settled an additional $14,609 of loans from shareholder for the subscription of 417,411 common shares valued at $0.035 which remain unissued.