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LOAN PAYABLE / PROMISSORY NOTE
6 Months Ended
Jun. 30, 2015
Notes Payable [Abstract]  
11. LOAN PAYABLE / PROMISSORY NOTE

The Company entered into a loan agreement with the Centre local de Développement (CLD) Mékinac on December 3, 2014 in the amount of CDN$150,000 that matures on November 22, 2019. The note had a default interest rate of 7.67% per annum, repayable in monthly instalments of $3,018 including interest. The loan is secured by a mortgage on the building. The balance at February 3, 2015 prior to the spin-off of DNA Canada Inc. outstanding on this note was $125,451.

 

As a result of the stock dividend on February 3, 2015 the loan payable was spun-off and appears as liabilities from discontinued operations on the condensed consolidated financial statements December 31, 2014.