Note 8 - Advances Payable – Related Party

As of June 30, 2011, the Company had advances payable totaling $1,340,132, to Richard MacPherson, a director of the Company.  These advances bear interest at 9% per annum, have no fixed terms of repayment and are unsecured.  Accrued interest on these advances at June 30, 2011 was $32,851 and interest expense for the period ended June 30, 2011 was $19,983