EQUITY BASED INCENTIVE/RETENTION BONUSES

12 Months Ended

Dec. 31, 2015

Equity Based Year End Bonuses and Conversion Of Board Of Directors Liability [Abstract]

Equity Based Year End Bonuses and Conversion Of Board Of Directors Liability [Text Block]

18. EQUITY BASED INCENTIVE/RETENTION BONUSES

On November 2, 2012, the Board of Directors consented to grant equity based bonuses to certain key employees and consultants as an incentive to retain their services. Stock incentive bonuses were to vest, and be paid out on May 2, 2013, contingent upon continued employment or service. The stock bonus price per share was calculated based on last closing price as reported on per the OTCBB prior to the grant date for a total of $75,100. Shares were set aside and reserved for this transaction. As disclosed in Note 7. RELATED PARTIES TRANSACTIONS, $45,000 and $2,250 of the $75,100 bonuses, or 37,038 and 1,854 shares, were awarded to the Chief Executive Officer and the related party employee, respectively. The Company accrued operating expense ratably from the time of the awards through May 2, 2013, when vested. Of the 61,852 vested shares, only 5,185 have been issued to-date. The rest are reflected in shares payable balance on the Statement of Stockholders’ Deficit and the Balance Sheet.

During the year ended December 31, 2015, the Company issued 19,419,712 common shares with a fair value of $54,000 to Alexander Fraser Purdon, a related party, as employee compensation. In addition, the Company issued 396,891 common shares representing accrued interest on notes payable to our Chief Executive Officer