As of March 31, 2012, the Company had advances payable totaling $952,234, 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 March 31, 2012 was $108,741 and interest expense for the quarter ended March 31, 2012 was $21,664.