Stock Options

3 Months Ended

Mar. 31, 2013

Stock Options [Text Block]

7.	Stock Options
	The Company adopted an official incentive stock option plan as at October 11, 2007 whereby the total number of authorized options to be granted is up to a total of 200,000 shares of common stock. Under the plan the exercise price of each option shall not be less than the market price of the Company’s stock as calculated immediately preceding the day of the grant. The vesting schedule for each option shall be specified by the Company at the time of grant. The maximum term of options granted is ten years.
	On June 24, 2009 the Company amended the stock option plan to increase common shares approved to 216,667.
	On January 25, 2010 the Company amended and restated its 2007 Stock Option Plan to increase the maximum number of common shares that may be reserved for issuance under the Plan from 216,667 common shares to 533,333 common shares.
	The following table summarizes the continuity of the Company’s stock options:

		Weighted	Weighted
		average	average	Aggregate
		exercise	remaining	intrinsic
	Number	price	contractual life	value
	of options	US$	(years)	$
Outstanding and exercisable, December 31, 2012 and March 31, 2013	300,000	0.10	3.6	–

Additional information regarding stock options as of March 31, 2013, is as follows:

Number of	Exercise price
options	US$	Expiry date
300,000	0.10	November 21, 2016