Related Party Transactions
|3 Months Ended|
Sep. 30, 2016
|Related Party Transactions [Abstract]|
|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).
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/presentationRef