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RELATED PARTY TRANSACTIONS
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3 Months Ended | ||
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Feb. 28, 2014
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| RELATED PARTY TRANSACTIONS [Text Block] |
The following transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. Three months ended February 28, 2014 The directors were compensated as per their consulting agreements with the Company. The Company expensed a total of $64,780 as management fees to its two directors and expensed a total of $1,800 as automobile allowance. The Company expensed $6,000 for services provided by the CFO of the Company and $60,000 for services provided by a corporation in which the Chief Operating Officer has an interest. . The Company reimbursed $32,263 to directors and officers for travel and entertainment expenses incurred for the Company. Three months ended February 28, 2013 The directors were compensated as per their consulting agreements with the Company. The Company expensed a total of $73,800 as management fees to its three directors and expensed a total of $1,800 as automobile allowance. The Company expensed $6,610 for services provided by the CFO of the Company and $60,000 for services provided by a corporation in which the Chief Operating Officer has an interest. The Company reimbursed $44,759 to directors and officers for travel and entertainment expenses incurred for the Company. |