2.4.0.8106 - Disclosure - Related Party Transactionstruefalsefalse1false falsefalsefrom-2012-10-01-to-2013-06-30.873.0.0.0.0.0.0.0http://www.sec.gov/CIK0001532828duration2012-10-01T00:00:002013-06-30T00:00:001true 1us-gaap_RelatedPartyTransactionsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Related Party Transactions [Abstract]2false 2us-gaap_RelatedPartyTransactionsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="COLOR: black; TEXT-ALIGN: justify; WIDTH: 2%"> <strong>6.</strong></td> <td style="COLOR: black; TEXT-ALIGN: justify; WIDTH: 98%"> <strong>Related Party Transactions:</strong></td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in">  </p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr> <td style="COLOR: black; TEXT-ALIGN: justify; WIDTH: 100%">On June 15, 2012, the Company purchased certain assets from 2023682 Ontario Inc., a related party in which the Company's CEO was the sole director of 2023682 Ontario Inc. The value of the assets purchased by the Company was carried over at the historical carrying amounts that were recorded by the related party. The purchase consideration consisted of cash of CDN $100,000 and a promissory note in the amount of CDN $500,000 (see Note 7). Because the purchase was from a commonly controlled related party, the excess of the purchase price over the carrying value of the assets purchased has been reflected as a deduction against Stockholders' Deficit, equivalent to a distribution of equity to the stockholder. The assets purchased and consideration given is as follows:</td> </tr> </table> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">  </p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 65%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; WIDTH: 87%">Property and equipment</td> <td style="COLOR: black; WIDTH: 1%"> </td> <td style="COLOR: black; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="COLOR: black; TEXT-ALIGN: right; WIDTH: 10%">88,596</td> <td style="COLOR: black; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="COLOR: black; TEXT-ALIGN: left">Patent claims</td> <td style="COLOR: black"> </td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> <td style="COLOR: black; TEXT-ALIGN: right">10,374</td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="COLOR: black; PADDING-BOTTOM: 1pt">Inventory</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: right"> 1,770</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="COLOR: black; TEXT-ALIGN: left">Total assets purchased</td> <td style="COLOR: black"> </td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> <td style="COLOR: black; TEXT-ALIGN: right">100,740</td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="COLOR: black">Purchase price</td> <td style="COLOR: black"> </td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> <td style="COLOR: black; TEXT-ALIGN: right">(610,260</td> <td style="COLOR: black; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> Discount on note payable (Note 7)</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: right"> (210,415</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="COLOR: black; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Deduction in shareholders' equity (deficit)</td> <td style="COLOR: black; PADDING-BOTTOM: 2.5pt"> </td> <td style="BORDER-BOTTOM: black 2.5pt double; COLOR: black; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; COLOR: black; TEXT-ALIGN: right"> (299,105</td> <td style="COLOR: black; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in">  </p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> This transaction was accounted for as a transfer between entities under common control, and the cost of these assets is based on the transferor's carrying value of the asset. Management determined that the assets acquired did not meet the definition of a "business" as defined by accounting standards, or as a "predecessor business", as defined in U.S. Securities and Exchange Commission (SEC) rules.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in">  </p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> As at June 30, 2013, the Company had advanced to 2023682 Ontario Inc. $64,330 (September 30, 2012 - $68,820). The amount is unsecured, non-interest bearing and is recorded as a loan receivable with no specific terms of repayment.</p> </div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 false0Related Party TransactionsfalseRelated Party TransactionsUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.trioresources.com/role/RelatedPartyTransactions12