Restricted Stock Units

9 Months Ended

Sep. 30, 2018

Receivables [Abstract]

Restricted Stock Units

8. Restricted Stock Units

For consideration of the renewal of management contracts, 275,000 restricted stock units (“RSUs”) were granted and vested immediately for the nine months ended September 30, 2018. No RSUs were granted during the nine month period ended September 30, 2017.

The RSUs were fair valued at $31,000 based on the fair market value of the closing price of the common stock of the Company at the date grants. At the option of management, one third of the restricted stock units are eligible to be redeemed for cash. As at September 30, 2018, these shares were not issued and the value is recorded in Stock subscriptions and stock to be issued.