Significant Transactions With Related Parties

9 Months Ended

Jun. 30, 2015

Significant Transactions With Related Parties [Abstract]

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

9. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Accounts payable – related parties was $7,101 as of June 30, 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 June 30, 2015, officers, directors, their families, and their controlled entities have acquired 53.63% of the Company’s outstanding common capital stock. This percentage does not include unexercised warrants or stock options.

The Company incurred expenses $112,590 to one related party, Concorde Consulting, an entity controlled by a director, for professional fees and consulting services provided to the Company during the period ended June 30, 2015 (June 30, 2014 - $124,997). These amounts were fully paid as of June 30, 2015.