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13. Related party transactions
9 Months Ended
Sep. 30, 2015
Related Party Transactions [Abstract]  
13. Related party transactions

13. Related party transactions

 

A portion of related party notes is due to Greenstone Clinic Inc. in the amount of $66,878 and $84,736 as of September 30, 2015 and December 31, 2014, respectively. The Company is related to Greenstone 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 also has a receivable balance of $48,400 due from one of the Company’s directors and a short-term receivable from the Endoscopy Clinic, which was recently sold, of $9,037. Both of these related party receivables are non-interest bearing, and have no specific repayment terms

 

The Company had management fees totaling $96,705 and $68,163 during the nine months ended September 30, 2015 and 2014, respectively to the director (Greenstone 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. The Company had rental expense amounting to $263,568 and $333,639 during the nine months ended September 30, 2015 and 2014, respectively. 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.