3. Amounts Due To Related Parties and Loans Payable To Stockholders	3 Months Ended
Jun. 30, 2012
3. Amounts Due To Related Parties and Loans Payable To Stockholders:
3. Amounts Due To Related Parties and Loans Payable To Stockholders	3. Amounts Due to Related Parties and Loans Payable to Stockholders From February, 2007 until June 30, 2012 the Company received a number of loans from stockholders, related parties and unrelated third parties. As of June 30, 2012 the Company had received loans of $612,843 (Euro 225,000; CAD 72,300; $256,800) December 31, 2011 –$604,930 (: Euro 225,000; CAD 62,300; $251,800) from stockholders, loans of $33,555 (CAD 25,000; $9,000) (December 31, 2011 –$118,833: CAD 10,000; $109,000) from a related party and loans of $144,822 (CAD 10,000; $ 135,000) (December 31, 2011 –$ 44,833: CAD 10,000; $35,000) from unrelated third parties. All of the loans bear interest at 6% per annum. The loans were made in 3 different currencies, Euros, Canadian Dollars and US Dollars. All amounts reflected on these financial statements are expressed in US Dollars. Repayment of the loans is due on closing of any future financing arrangement by the Company. The balance of accrued interest of $186,921 and $156,015 is included in accounts payable and accrued expenses at June 30, 2012 and December 31, 2011, respectively. Interest expense recognized on these loans was $23,418 for the six months ended June 30, 2012, compared to $22,985 for the six months ended June 30, 2011. At June 30, 2012 and December 31, 2011 the Company had amounts due to related parties of $376,020 and $516,719, respectively. This amount includes $136,100 at June 30, 2012 and December 31, 2011, payable to two former directors and a current director for services rendered during 2007. This amount is to be paid part in cash and part in stock at a future date with the number of common shares determined by the fair value of the shares on the settlement date. The amounts owing bear no interest, are unsecured, and have no fixed terms of repayment.

3. Amounts Due To Related Parties and Loans Payable To Stockholders

3 Months Ended

Jun. 30, 2012

3. Amounts Due To Related Parties and Loans Payable To Stockholders:

3. Amounts Due To Related Parties and Loans Payable To Stockholders

3. Amounts Due to Related Parties and Loans Payable to Stockholders

From February, 2007 until June 30, 2012 the Company received a number of loans from stockholders, related parties and unrelated third parties.

As of June 30, 2012 the Company had received loans of $612,843 (Euro 225,000; CAD 72,300; $256,800)

December 31, 2011 –$604,930 (: Euro 225,000; CAD 62,300; $251,800) from stockholders,

loans of $33,555 (CAD 25,000; $9,000)

(December 31, 2011 –$118,833: CAD 10,000; $109,000) from a related party and loans of $144,822 (CAD 10,000; $ 135,000)

(December 31, 2011 –$ 44,833: CAD 10,000; $35,000) from unrelated third parties.

All of the loans bear interest at 6% per annum. The loans were made in 3 different currencies, Euros, Canadian Dollars and US Dollars. All amounts reflected on these financial statements are expressed in US Dollars. Repayment of the loans is due on closing of any future financing arrangement by the Company.

The balance of accrued interest of $186,921 and $156,015 is included in accounts payable and accrued expenses at June 30, 2012 and December 31, 2011, respectively.

Interest expense recognized on these loans was $23,418 for the six months ended June 30, 2012, compared to $22,985 for the six months ended June 30, 2011.

At June 30, 2012 and December 31, 2011 the Company had amounts due to related parties of $376,020 and $516,719, respectively.

This amount includes $136,100 at June 30, 2012 and December 31, 2011, payable to two former directors and a current director for services rendered during 2007. This amount is to be paid part in cash and part in stock at a future date with the number of common shares determined by the fair value of the shares on the settlement date. The amounts owing bear no interest, are unsecured, and have no fixed terms of repayment.