RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2013

Notes to Financial Statements

NOTE 7- RELATED PARTY TRANSACTIONS

During the nine months ended September 30, 2013, the Company incurred $11,400 (2012 -$3,000) in fees to directors.

During the nine months ended September 30, 2013, the Company incurred $130,064 (2012 -$Nil) in consulting and management fees to shareholders or companies controlled by shareholders.

During the nine months ended September 30, 2013, the Company incurred $25,517 (2012 - $24,769) in rent and office expenses to a private company controlled by a shareholder.

During the nine months ended September 30, 2013, two companies controlled by significant shareholders earned $22,788 (2012 - $22,271) pursuant to the expired portion of deferred compensation agreements (see Note 5).

The following amounts are due to related parties at:

	September 30, 2013		December 31, 2012
Significant shareholders	$	32,003	$	2,142