Significant Transactions with Related Parties

12 Months Ended

Sep. 30, 2020

Related Party Transactions [Abstract]

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

10. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Accounts payable – related parties were $22,941 as of September 30, 2020 (September 30, 2019 - $1,375) for expenses to be reimbursed to directors. This amount is unsecured, non-interest bearing, and has no fixed terms of repayment.

As of September 30, 2020, officers, directors, their families, and their controlled entities have acquired 53.08% of the Company’s outstanding common capital stock. This percentage does not include unexercised stock options.

The Company incurred expenses $133,866 to one related party, Concorde Consulting, an entity controlled by a director, for professional fees and consulting services provided to the Company during the year ended September 30, 2020 (September 30, 2019 - $135,666).