Significant Transactions With Related Parties

6 Months Ended

Mar. 31, 2015

Significant Transactions With Related Parties [Abstract]

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

9. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Accounts payable – related parties was $475 as of March 31, 2015 (September 30, 2014 - $16,977) for expenses to be reimbursed to directors. This amount is unsecured, non-interest bearing, and has no fixed terms of repayment.

As of March 31, 2015, officers, directors, their families, and their controlled entities have acquired 53.54% of the Company’s outstanding common capital stock. This percentage does not include unexercised warrants or stock options.

The Company incurred expenses $76,005 to one related party, Concorde Consulting, for professional fees and consulting services provided to the Company during the period ended March 31, 2015 (March 31, 2014 - $83,745). These amounts were fully paid as of March 31, 2015.