Subsequent Events

9 Months Ended

Sep. 30, 2012

Subsequent Events [Abstract]

Subsequent Events

6. Subsequent Events

Subsequent to September 30, 2012, the Company:

a) Received additional loans of $10,000 from a company controlled by a director of the Company. These loans are unsecured, non-interest bearing, and repayable upon demand.

b) Cancelled the pre-existing 3,125,000 share purchase options outstanding at September 30, 2012.

c) Granted 4,140,000 share purchase options to directors and consultants at an exercise price of $0.10 per common share, expiring on October 15, 2017.

d) Entered into three Debt Settlement and Subscription Agreements to issue a total of 5,249,065 restricted shares of Common stock of the Company at $0.07 per share as settlement of September 30, 2012 accounts payable due to directors of the Company and companies controlled by directors of the Company in respect of unpaid management fees and consulting fees debts totaling $350,207, plus a $17,220 debt owed to an arm’s length creditor. These shares have not yet been issued.

e) On August 21, 2012 the Company entered into a Management Services Agreement with a director (the “Director”) and an arm’s length consultant (the “Consultant”), for a term of 12 months commencing on October 1, 2012. As partial remuneration for the management services the Company agreed to issue 320,000 restricted common shares to the Director, and 480,000 restricted common shares to the Consultant. As of September 30, 2012 the shares had not been issued.

f) On August 21, 2012 the Company entered into a Consulting Services Agreement with an arm’s length consultant (the “Consultant”), for a term of 12 months commencing on October 1, 2012. As partial remuneration for the consulting services the Company agreed to issue 300,000 restricted common shares to the Consultant. As of September 30, 2012 the shares had not been issued.