7. Loan Payable

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

7.Loans Payable

a) At March 31, 2015, the Company owes $120,000 (2014 - $120,000) in a note payable to a non-related party. Under the terms of the note, the amount is unsecured, due interest at 10% and due on demand.

b) On July 25, 2014, the Company entered into a loan agreement with a related party for a loan of $175,000. Under the terms of the note, the amount is unsecured, non-interest bearing, and due on July 25, 2017. The unpaid principal is to be repaid in installments defined as the collected sum of 10% of the unadjusted gross sales revenue (net of returns and chargebacks) with the installments to begin once the Company has received the gross proceeds of $175,000. As at March 31, 2015, the Company had received loan proceeds of $75,000 (December 31, 2014 - $nil). During the period ended March 31, 2015, the Company recorded imputed interest of $1,480 (2014 - $nil).