Ok FDA will probably not find the information but I want to share it for all the "real" longs!!
"
12. Related Party Transactions and Balances
September 30, December 31,
2015 2014
Related party payable, non-interest bearing, due on demand and unsecured. $ 145,587 $ 181,020
During the nine-month period ended September 30, 2015, the Company incurred accrued fees of $243,000 (2014 - $243,000) in management fees charged by Travellers, an Ontario Company controlled by a director and officer of the Company, for services as chief executive officer and $nil (2014-$48,000) of accrued fees to a director for management services. As at September 30, 2015, unpaid remuneration in the amount of $108,000 (December 31, 2014-$nil) is included in accounts payable and $216,000 (December 31, 2014-$135,000) is included in accrued liabilities in relation to the chief executive officer and unpaid remuneration of $102,000 (December 31, 2014-$120,000) in relation to a director for management services is included in accrued liabilities.
During the nine-month period ended September 30, 2015, the Company incurred $40,764 ($51,356 Canadian) (2014-$46,945; $51,356 Canadian) in rent paid to a company controlled by a director and officer of the Company. Included in prepaid expenses is a rental deposit of $3,819 (December 31, 2014-$4,409).
These transactions were in the normal course of operations and have been recorded at the exchange amounts which the parties believe to be fair value.
On November 11, 2015, the Company entered into a three year office lease agreement with a Company controlled by a director and officer of the Company for office space commencing January 1, 2016 through to December 31, 2018. The monthly basic rent will be $4,480 ($6,000 Canadian) and the Company will be required to pay the first and last month's rent totaling $8,960 ($12,000 Canadian), upon signing."
FAIR VALUE??? 243k$ for 9 months to do what exactly??? And this salary + rent + expense reports years after years??? Marc "can afford" to lose is 17M shares considering all the money he has cashed over the years...
