11. Stockholders' deficit

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note Disclosure [Text Block]

11.       Stockholders’ deficit

Common shares

On June 30, 2012, the Company filed a Certificate of Amendment with the Colorado Secretary of State to increase the aggregate number of shares which the Company has authority to issue to one hundred million (100,000,000) common shares, issued at $0.01 par value per share from 50,000,000 common shares with par value at $0.01. The amendment was approved by the Colorado Secretary of State in May 2012.

Issued common shares

The Company has a total of 27,234,279 issued and outstanding common shares as at December 31, 2012. In the prior year, December 31, 2011, the Company issued 13,521,568 of common shares at $0.01 per share. Of the issued common shares, $1,062,831 notes were converted into 7,187,711 restricted common shares and 6,525,000 unrestricted common shares.

Net loss per common share

Net loss per share is computed using the basic and diluted weighted average number of common shares outstanding during the period. The weighted-average number of common shares outstanding during each year is used to compute basic loss per share.  Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding unless common stock equivalent shares are anti-dilutive.  Dilutive potential common shares are additional common shares that will be exercised. Basic net loss per common share is based on the weighted average number of shares of common shares outstanding during the twelve month period ended December 31, 2012 and December 31, 2011.