Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.5.0.2
Related Party Transactions
3 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Related party transactions
4 Related party transactions

 

Pursuant to consulting agreements with the Company’s officers the Company recognized a total of $120,000 (2015 - $120,000) in compensation expense for the three months ended September 30, 2016.

 

The Company incurred $45,000 (2015 – $41,750) in directors’ fees during the three months ended September 30, 2016.

 

The Company recorded $2,089 (2015 - $2,089) in dividends related to the preferred stock issued to Valent (note 3).