Related Party Transactions

9 Months Ended

Sep. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions

9. Related Party Transactions

On January 12, 2012, Mr. Cacace resigned from the positions of President, Chief Executive Officer, Chief Financial Officer and Director of the Company and Mr. Derek Cooper was appointed to the positions of President, Chief Executive Officer, Chief Financial Officer and Director of the Company. On June 18, 2012, Mr. Derek Cooper resigned as the Company’s President, Chief Executive Officer, Chief Financial Officer and Director. Effective as of June 19, 2012, Mr. Joseph Sierchio, one of the Company’s directors, was appointed as its Acting Interim President and Chief Executive Officer; and effective as of June 27, 2012, Ms. Janet Bien was appointed as the Company’s Chief Financial Officer.

For the three and nine month periods ended September 30, 2012, fees of $7,200 (2011 - $9,000) and $23,890 (2011 - $27,000) were paid or are due to officers of the Company.

For the three and nine month periods ended September 30, 2012, directors fees of $0 (2011 - $12,000 and $0 (2011 - $36,000) were paid to non-officer directors of the Company.

For the three and nine month periods ended September 30, 2012, legal fees of $36,098 (2011- $8,489) and $58,320 (2011 - $42,504) were paid or are due to a company controlled by our attorney, Mr. Sierchio. Included in accounts payable - related parties at September 30, 2012 is $13,354 (December 31, 2011 - $7,850) for legal fees.