Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v2.4.0.8
Related Party Transactions
3 Months Ended
Jun. 30, 2014
Related Party Transactions [Abstract]  
Related Party Transactions
7. Related Party Transactions

 

(a) During the three months ended June 30, 2014, the Company incurred $nil (2013 - $5,896) to a former director for consulting fees of a wholly owned subsidiary of the Company.

 

(b) During the three months ended June 30, 2014, the Company incurred $60,000 (2013 – $nil) to a company under common control for consulting fees.

 

(c) During the year ended March 31, 2014, the Company incurred $13,684 (2013 – $nil) to a company under common control for consulting fees.

 

(d) During the three month period ended June 30, 2014, the Company incurred $9,838 (2013 -$nil) in professional fees to a company controlled by directors.

 

(e) As at June 30, 2014, $34,210 (20,000 GBP) (March 31, 2014 – $33,348 (20,000 GBP)) was owed to a company under common control for consulting fees incurred, which is included in accounts payable and accrued liabilities.

 

(f) As at June 30, 2014, the Company owed $3,874,259 (March 31, 2014 – $3,746,282) to a company under common control. The amount owing is unsecured, non-interest bearing, and due on demand.

 

(g) As at June 30, 2014, the Company owed $34,282 (20,042 GBP) (March 31, 2014 – $33,418 (20,042 GBP)) to a company under common control. The amount owing is unsecured, non-interest bearing, and due on demand.

 

(h) As at June 30, 2014, the Company owed $905,165 (March 31, 2014 – $832,883) to a significant shareholder.

 

(i) As at June 30, 2014, the Company owed $660,740 (March 31, 2014 – $688,367) to directors of the Company’s wholly-owned subsidiaries. The amounts owing are unsecured, non-interest bearing, and due on demand.