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6. Commitments
9 Months Ended
Sep. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
Note 6. Commitments

The Company leases office facilities in Vancouver, British Columbia, Canada, The Valley, Anguilla, British West Indies and London, United Kingdom. These office facilities are leased under operating lease agreements. The Canadian operating lease expires on April 30, 2014. The Anguillan operating lease expired on April 1, 2011 but automatically renews for a further 3 month period until a 3 month cancelation notice is given. The United Kingdom lease is leased from Bingo, Inc. This lease is for 30 days and is automatically renewed with a 30 day notice period.

Minimum lease payments under these operating leases are approximately as follows:

     
2012 $ 9,502
2013   18,843
2014   6,281
     

The Company paid rent expense totaling $18,509 for the quarter ended September 30, 2012 (September 30, 2011 - $18,086). 

 

The Company has a management consulting agreement with T.M. Williams (Row), Inc., an Anguilla incorporated company, and Mr. Williams, a related party, for a consultancy payment of $11,666 per month payable in arrears. This contract is for the provision of services by Mr. Williams as Executive Chairman of the Company.