Significant Transactions with Related Parties

9 Months Ended

Jun. 30, 2018

Significant Transactions with Related Parties [Abstract]

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

6. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Accounts payable – related parties were $1,227 as of June 30, 2018 (September 30, 2017 - $9,934) for expenses to be reimbursed to directors. This amount is unsecured, non-interest bearing, and has no fixed terms of repayment.

Subscriptions receivable – related parties was $15,000 as of June 30, 2018 (September 30, 2017 - $Nil) for the amount owed to the Company from one director for the exercise of his stock options.

As of June 30, 2018, officers, directors, their families, and their controlled entities have acquired 53.96% of the Company’s outstanding common capital stock. This percentage does not include unexercised warrants or stock options.

The Company incurred expenses $105,840 to one related party, Concorde Consulting, and entity controlled by a director, for professional fees and consulting services provided to the Company during the period ended June 30, 2018 (June 30, 2017 - $104,031). These amounts were fully paid as of June 30, 2018.