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13. Related party transactions
12 Months Ended
Dec. 31, 2014
Related Party Transactions [Abstract]  
13. Related party transactions

13. Related party transactions

 

A portion of related party notes at December 31, 2014 is due to Greenestone Clinic Inc. in the amount of $84,736 (December 31, 2013: $205,995). 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, non-secured without any specified terms of repayment.

 

The Company had management fees totalling $122,271 for the year ended December 31, 2014 (and for 2013 those fees were $194,180) which were paid to the director (Greenestone Clinic Inc.) 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 year ended December 31, 2014, the Company had rent expense of $412,488 (2013 - $454,381) 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.