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Note 10. Related Party Transactions.
6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]  
Note 10. Related Party Transactions.

Note 10. Related Party Transactions.

 

The balance due to related party as at June 30, 2013, to Greenestone Clinic Inc. The Company is related to Greenestone Clinic Inc. as it is controlled by one of the Company’s directors. The balance owing is non-interest bearing, not secured and has no specified terms of repayment.

 

The Company had management fees totaling $98,420 during the six month period ended June 30, 2013 (June 30, 2012: $79,544) to the director for services which are included in management fees.

 

The Company entered into an agreement to lease premises from Cranberry Cove Holdings Ltd. at market terms. During the six month period ended June 30, 2013, the Company had rent expense of $272,623 (June 30, 2012: $190,606) to Cranberry Cove Holdings Ltd. Cranberry Cove Holdings Ltd. is related to the Company by virtue of its shareholder being a director of the Company.

 

All related party transactions occur in the normal course of operations and are measured at the exchange amount, as agreed upon by the related parties.