XML 43 R12.htm IDEA: XBRL DOCUMENT

Related Party Transactions

9 Months Ended

Sep. 30, 2019

The transactions we have with related parties are compensation arrangements for current compensation, share based compensation and compensation under options compensation to our officers and directors

Executive officers and directors participate in the Corporation’s stock option plan. Certain Executive officers are covered under the Corporation’s health plan.

Key management personnel compensation is comprised of:

	Three months				Nine months
	ended September 30,				ended September 30,
Description	2019		2018		2019		2018
Salaries	$	-	$	-	$	-	$	-
Short-term employee benefits		560		471		1,668		1,433
Stock-based compensation		545,602		1,142,876		2,512,715		3,063,645

Total	$	546,162	$	1,143,347	$	2,514,383		3,065,078

Total honorariums to the independent directors of the Corporation for participating in Board and Committee meetings were nil for the period ended September 30, 2019 and 2018, respectively.

Our Chief Financial Officer receives no compensation as an individual and receives no deferred or incentive compensation. We do make payments in the form of contract for services rendered to a corporation controlled by him. Amounts paid under this arrangement were $360,000 for the nine months period ended September 30, 2019 and $322,500 for the nine months period ended September 30, 2018, respectively.

Our Corporate Legal Counsel receives no compensation as an individual and receives no deferred or incentive compensation. We do make payments in the form of contract for services rendered to a corporation controlled by him. Amounts paid under this arrangement were $241,660 for the nine months period ended September 30, 2019 and $150,874 for the nine months period ended September 30, 2018, respectively.