Related Party Transactions

12 Months Ended

Dec. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions

7. Related Party Transactions

The Company was charged the following by stockholders, directors, by companies controlled by directors and/or stockholders of the Company, and by companies with directors in common:

	Year ended December 31,
	2016	2015
Interest	$ 98,445	$ 88,880
Management fees	4,100	53,000
Total related party transactions	$ 102,545	$ 141,880

At December 31, 2016, accounts payable includes $8,211 (2015 - $5,200) due to two directors, a former director, and a company controlled by a director of the Company in respect of unpaid management fees and expenses incurred on behalf of the Company.

At December 31, 2016, accounts payable also includes $15,527 (2015 - $15,527) of expenses for operating costs paid on behalf of the Company by a company with directors in common.

On August 21, 2012 the Company entered into a Management Services Agreement with a director (the “Director”). As remuneration for the management services, the Company agreed to pay the Director $20 per hour for time spent on the affairs of the Company, pursuant to which the company has paid or accrued management fees of $3,000 (2015 - $4,000).

See footnote 9 for other related party transactions for Skytower and Marriot.