Related Party Transactions

3 Months Ended

Jul. 31, 2019

Related Party Transactions [Text Block]

Note 9	Related Party Transactions
	On October 10, 2018, the Company entered into a loan agreement (the “Loan Agreement”) with Wesley Clover International Corporation, a company controlled by the Chairman of the Company, and KMB Trac Two Holdings Ltd., a company owned by the spouse of a director of the Company. As of July 31, 2019, the principal balance of the loan payable was $3,000,000 and interest payable was $20,383. During the three months ended July 31, 2019, the Company recognized $60,493 in interest expense in the consolidated statement of operations. See Note 7 – Loan Payable for more information.
	During the three months ended July 31, 2019, the Company through its wholly owned subsidiary, CounterPath Technologies Inc., paid $21,195 (2018 - $21,118), to KRP Properties (“KRP”) (previously known as Kanata Research Park Corporation) for leased office space. KRP is controlled by the Chairman of the Company.
	On November 21, 2013, the Company, through its wholly owned subsidiary, CounterPath Technologies Inc., entered into an agreement with 8007004 (Canada) Inc. (“8007004”) to lease office space. On May 1, 2019, the office space was sold to a third party. For the three months ended July 31, 2018, CounterPath Technologies Inc., paid $7,796 to 8007004.