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Related party transactions
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Related party transactions

 

12. Related party transactions:

The Company has a liability for $3,900 (2010 - $3,860) to a company owned by a current director and officer of the Company for payment of services rendered and expenses incurred by a current director and officer of the Company.

The Company has a liability of $nil (2010 - $113), to a director and officer of the Company for payment of services rendered and expenses incurred by the director and officer of the Company.

Payments made to Bingo, Inc. in relation to the domain name purchase payment totaled $nil during the year ended December 31, 2011 (2010 - $66,920). As at December 31, 2011, the Company has a liability of $nil (2010 - $nil) to Bingo, Inc. During the year ended December 31, 2010, the Company acquired the remaining Domain Name Purchase payments for 6,000,000 common shares at a value of $0.15 per share for a total value of $900,000.

The Company has a liability of $4,002 (December 31, 2010 - $500), to independent directors of the Company for payment of services rendered.

The Company has a liability of $2,780 (December 31, 2010 - $93), to an officer of the Company for payment of services rendered and expenses incurred by the officer of the Company.

The related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related party.