Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Oct. 31, 2013 | |
Document and Entity Information | ' |
Entity Registrant Name | 'Neurokine Pharmaceuticals Inc. |
Document Type | '10-Q |
Document Period End Date | 31-Oct-13 |
Amendment Flag | 'false |
Entity Central Index Key | '0001464165 |
Current Fiscal Year End Date | '--04-30 |
Entity Common Stock, Shares Outstanding | 70,767,073 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'Yes |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q2 |
NEUROKINE_PHARMACEUTICALS_INC_
NEUROKINE PHARMACEUTICALS INC. - Balance Sheets (USD $) | Oct. 31, 2013 | Jan. 31, 2013 | ||
Current Assets: | ' | ' | ||
Cash | $8,322 | $475 | ||
Amounts receivable | 5,010 | 4,254 | ||
TOTAL CURRENT ASSETS | 13,332 | 4,729 | ||
Property and equipment | 986 | [1] | 1,328 | [1] |
Total Assets | 14,318 | 6,057 | ||
Current Liabilities | ' | ' | ||
Accounts payable and accrued liabilities | 104,841 | 84,585 | ||
Loans payable | 40,427 | [2] | 30,000 | [2] |
Due to related parties | 218,220 | [3] | 206,532 | [3] |
Convertible debentures, net of unamortized discount | 201,711 | [4] | 189,473 | [4] |
Derivative liabilities, current portion | 152,190 | [5] | 151,717 | [5] |
TOTAL CURRENT LIABILITIES | 717,389 | 662,307 | ||
Derivative liabilities | 67,318 | [5] | 18,388 | [5] |
TOTAL LIABILITIES | 734,707 | 680,695 | ||
Stockholders' Deficit | ' | ' | ||
Common Stock | 1,611,148 | [6] | 1,086,148 | [6] |
Common Stock issuable | 288,000 | [7] | 225,000 | [7] |
Additional paid-in capital | 189,586 | 174,586 | ||
Deficit accumulated during the development stage | -2,859,123 | -2,160,372 | ||
Total Stockholders' Deficit | -770,389 | -674,638 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $14,318 | $6,057 | ||
[1] | See Note 3 | |||
[2] | See Note 4 | |||
[3] | See Note 10 | |||
[4] | net of unamortized discount of $11,549 and $nil, respectively. See Note 5 | |||
[5] | See Note 6 | |||
[6] | 500,000,000 shares authorized, without par value, 70,767,073 and 35,767,073 shares issued and outstanding, respectively. | |||
[7] | See Note 7 |
NEUROKINE_PHARMACEUTICALS_INC_1
NEUROKINE PHARMACEUTICALS INC. - Statements of Operations (USD $) | 4 Months Ended | 9 Months Ended | 137 Months Ended | 2260 Months Ended | ||||||
Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2201 | ||||||
Income Statement | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | |||||
EXPENSES | ' | ' | ' | ' | ' | |||||
Amortization | 113 | 342 | 342 | 1,290 | 113 | |||||
Consulting | ' | ' | ' | 126,519 | ' | |||||
Foreign exchange loss (gain) | -393 | 11,399 | -357 | 20,388 | 4,014 | |||||
General and administrative | 5,051 | 19,967 | 14,123 | 241,469 | 5,017 | |||||
Management fees | 15,000 | [1] | 22,500 | [1] | 45,000 | [1] | 191,661 | [1] | 7,500 | [1] |
Professional fees | 4,811 | 12,934 | 34,115 | 195,313 | 4,437 | |||||
Research and development | ' | ' | ' | 282,715 | ' | |||||
Royalties | ' | ' | ' | 500,000 | ' | |||||
TOTAL EXPENSES | 24,582 | 67,142 | 93,223 | 1,559,355 | 21,081 | |||||
Loss from operations | -24,582 | -67,142 | -93,223 | -1,559,335 | -21,081 | |||||
Accretion of discount on convertible debentures | -40,697 | -3,451 | -73,238 | -206,439 | -2,235 | |||||
Financing costs | ' | -63,000 | ' | -369,449 | ' | |||||
Gain (loss) on change in fair value of derivative liabilities | 12,493 | -49,403 | 599,058 | -122,098 | -79,170 | |||||
Loss, settlement of debt | 0 | -490,000 | 0 | -490,000 | -490,000 | |||||
Interest expense | -7,865 | -25,755 | -22,258 | -111,782 | -9,047 | |||||
Total Other Income (Expense) | -36,069 | -631,609 | 503,562 | -1,299,768 | -580,452 | |||||
Net income (loss) | -60,651 | -698,751 | 410,339 | -2,859,123 | -601,533 | |||||
Net income (loss) per share, basic | ' | -0.01 | 0.01 | ' | ' | |||||
Net income (loss) per share, diluted | ' | ' | ' | ' | ' | |||||
Weighted average shares outstanding, basic | 35,767,073 | 40,510,663 | 35,767,073 | ' | 49,843,160 | |||||
Weighted average shares outstanding, diluted | 167,694,183 | 225,078,587 | 167,694,183 | ' | 234,411,084 | |||||
[1] | See Note 7 |
NEUROKINE_PHARMACEUTICALS_INC_2
NEUROKINE PHARMACEUTICALS INC. - Statements of Cash Flows (USD $) | 9 Months Ended | 137 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Cash flows from Operating Activities | ' | ' | ' |
Net income (loss) | ($698,751) | $410,339 | ($2,859,123) |
Accretion of discount on convertible debentures | 3,451 | 73,238 | 206,439 |
Amortization | 342 | 342 | 1,290 |
Loss (gain) on change in fair value of derivative liabilities | -49,403 | -599,058 | 122,098 |
Loss on settlement of debt | 490,000 | ' | 490,000 |
Shares issued for royalties | ' | ' | 500,000 |
Shares issued for services | 63,000 | ' | 512,919 |
Stock-based compensation | ' | ' | 61,911 |
Changes in operating assets and liabilities: | ' | ' | ' |
Amounts receivable, increase decrease | -756 | -3,887 | -5,010 |
Accounts payable and accrued liabilities, increase decrease | 20,256 | 31,309 | 154,698 |
Due to related parties, increase decrease | 46,688 | 56,950 | 260,720 |
Net cash used in operating activities | -26,367 | -30,767 | -554,058 |
Cash Flows from Investing Activities | ' | ' | ' |
Purchase of property and equipment | ' | ' | -2,276 |
Net cash used in investing activities | ' | ' | -2,276 |
Cash Flows From Financing Activities | ' | ' | ' |
Proceeds from loan payable | 10,000 | 30,000 | 280,000 |
Repayment of loan payable | ' | ' | -150,000 |
Proceeds from issuance of convertible debentures | 15,000 | ' | 117,949 |
Proceeds from issuance of shares | ' | ' | 307,493 |
Net cash provided by financing activities | 25,000 | 30,000 | 555,442 |
Effect of foreign exchange | -9,214 | ' | -9,214 |
INCREASE (DECREASE) IN CASH | 7,847 | -767 | 8,322 |
CASH, BEGINNING OF PERIOD | 475 | 2,061 | ' |
CASH, END OF PERIOD | 8,322 | 1,294 | 8,322 |
Supplemental disclosures: | ' | ' | ' |
Interest paid | ' | 14,393 | 76,078 |
Income tax paid | ' | ' | ' |
Non-cash investing and financing activities: | ' | ' | ' |
Forgiveness of related party debt | ' | ' | 7,500 |
Shares issued for conversion of debentures, shares | ' | ' | 43,736 |
Shares issued for settlement of debt | 525,000 | ' | 535,000 |
Fair value of options and warrants exercised | ' | ' | $5,175 |
Nature_of_Operations_and_Conti
Nature of Operations and Continuance of Business | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Nature of Operations and Continuance of Business | ' |
1. Nature of Operations and Continuance of Business | |
Neurokine Pharmaceuticals Inc. (the “Company”) was incorporated in British Columbia under the Business Corporations Act on June 10, 2002. The Company is a development stage company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities, and is in the business of developing and commercializing new uses for existing prescription drugs for diseases mediated by acute and chronic inflammatory reactions as well as developing proprietary encapsulation technology in the treatment of neurodegenerative diseases. | |
These financial statements have been prepared on the going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. As at October 31, 2013, the Company has not earned any revenue, has a working capital deficit of $704,057 and an accumulated deficit of $2,859,123. The continued operations of the Company are dependent on its ability to generate future cash flows or obtain additional financing. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recorded assets or liabilities that might be necessary should the Company be unable to continue as a going concern. |
Significant_Accounting_Policie
Significant Accounting Policies | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Significant Accounting Policies | ' |
2. Significant Accounting Policies | |
(a) Basis of Presentation | |
The financial statements and the related notes of the Company are prepared in accordance with generally accepted accounting principles in the United States and are expressed in Canadian dollars. The Company’s fiscal year-end is January 31. | |
(b) Use of Estimates | |
The preparation of these financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, valuation of convertible debentures, assumptions used to determine the fair values of stock-based compensation and derivative liabilities, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. | |
(c) Interim Financial Statements | |
These interim unaudited financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. | |
(d) Cash and Cash Equivalents | |
The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at October 31 and January 31, 2013, the Company had no cash equivalents. | |
(e) Property and Equipment | |
Property and equipment is comprised of office equipment and is recorded at cost. The Company amortizes the cost of equipment on a straight-line basis over their estimated useful life of five years. | |
(f) Long-lived Assets | |
In accordance with ASC 360, “Property, Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value, which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. | |
(g) Stock-Based Compensation | |
The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock-Based Compensation, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. | |
(h) Derivative Financial Instruments | |
Derivative financial instruments that are not classified as equity and are not used in hedging relationships are measured at fair value. Subsequent changes to fair value are recorded in the statement of operations. | |
(i) Loss Per Share | |
The Company computes net loss per share in accordance with ASC 260, Earnings Per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At October 31, 2013, the Company has 184,567,924 (January 31, 2013 – 148,529,182) potentially dilutive shares. | |
(j) Comprehensive Loss | |
ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at October 31 and January 31, 2013, the Company had no items representing comprehensive income or loss. | |
(k) Research and Development Costs | |
Research costs are expensed in the period that they are incurred. | |
(l) Financial Instruments and Fair Value Measures | |
ASC 820, Fair Value Measurements, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: | |
Level 1 | |
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. | |
Level 2 | |
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. | |
Level 3 | |
Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. | |
The Company’s financial instruments consist principally of cash, amounts receivable, accounts payable and accrued liabilities, amounts due to related parties, loans payable, and convertible debentures. Pursuant to ASC 820, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets and derivative liabilities is determined based on “Level 2” inputs, as determined by observable market data. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. | |
(m) Foreign Currency Translation | |
The Company’s functional currency and its reporting currency is the Canadian dollar and foreign currency transactions are primarily undertaken in United States dollars. Monetary assets and liabilities are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Expenses are translated at average rates for the period. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. | |
(n) Recent Accounting Pronouncements | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Loans_Payable
Loans Payable | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Loans Payable | ' |
4. Loans Payable | |
(a) On March 30, 2012, the Company issued a promissory note to a non-related party for $30,000. The loan is unsecured, bears interest at 24% per annum, and was due on March 30, 2013. Upon default of the loan, the Company was required to issue 30,000,000 common shares with a fair value of $63,000, as a penalty for non-payment. The penalty shares have not been issued, and are recorded as common stock issuable. | |
(b) On September 19, 2013, the Company issued a promissory note to a non-related party for $10,427 (US$10,000). The loan is unsecured, bears interest at 24% per annum, and is due on September 18, 2014. In the event of default of the loan, the Company will be required to issue 10,000,000 common shares, as a penalty for non-payment. |
Convertible_Debentures
Convertible Debentures | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Convertible Debentures | ' |
5. Convertible Debentures | |
(a) On December 17, 2010, the Company issued a convertible debenture with a non-related party for $65,079 (US$65,000). The debenture is unsecured, bears interest at 8% per annum, and matured on September 17, 2011. The note is convertible into common shares at a conversion price equal to 55% of the average closing market price of the lowest three trading prices of the Company’s common stock during the preceding ten days prior to conversion. The Company recorded the conversion feature of the convertible debenture as a derivative liability at an estimated fair value of $65,079 with a corresponding discount to the convertible debenture. On June 23, 2011, the Company issued 145,455 common shares to convert $11,674 (US$12,000). On June 29, 2011, the Company issued 169,697 common shares to convert $13,792 (US$14,000). As of October 31, 2013, the carrying value of the convertible debenture is $40,665 (US$39,000) (January 31, 2013 - $38,887 (US$39,000)), plus the accrued default penalty of $20,854 (US$20,000) (January 31, 2013 – $19,942 (US$20,000)). As of October 31, 2013, the fair value of the conversion option derivative liability was $96,540 (January 31, 2013 - $84,220). | |
(b) On February 23, 2011, the Company issued a convertible debenture with a non-related party for $37,944 (US$40,000). The debenture is unsecured, bears interest at 8% per annum, and matured on December 23, 2011. The note is convertible into common shares at a conversion price equal to 55% of the average closing market price of the lowest three trading prices of the Company’s common stock during the preceding ten days prior to conversion. The Company recorded the conversion feature of the convertible debenture as a derivative liability at an estimated fair value of $37,944 with a corresponding discount to the convertible debenture. On July 11, 2011, the Company issued 230,303 common shares to convert $18,270 (US$19,000). As of October 31, 2013, the carrying value of the convertible debenture is $21,897 (US$21,000) (January 31, 2013 - $20,943 (US$21,000)), plus the accrued default penalty of $10,427 (US$10,000) (January 31, 2013 - $9,971 (US$10,000)). As of October 31, 2013, the fair value of the conversion option derivative liability was $55,650 (January 31, 2013 - $67,491). | |
(c) On July 4, 2011, the Company issued a note payable with a non-related party for $85,000. The note was unsecured, due interest at 24% per annum, and due on October 4, 2011. On October 4, 2011, the note was extended to January 4, 2012 under the same terms of the original agreement. | |
On December 4, 2011, the Company agreed to modify the principal balance owing of $85,000 and accrued interest of $8,551 into a new $100,000 note payable, which is unsecured, due interest at 24% per annum, and due on December 3, 2012. In addition, the note became convertible into common shares of the Company at a conversion rate of $0.001 per share. As part of the conversion to extend the note, the Company issued 10,000,000 common shares with a fair value of $225,000 as a termination fee of the original note agreement. | |
As the modified debt terms include a beneficial conversion feature, the Company accounted for the modified debt terms in accordance with ASC 470, Debt – Debt with Conversions and Other Options. The conversion feature resulted in a discount on the convertible note of $100,000. During the nine months ended October 31, 2013, the Company recorded accretion expense of $0 (2012 - $32,541). As of October 31, 2013, the carrying value of the convertible debenture is $104,270 (US$100,000) (January 31, 2013 - $99,730 (US$100,000)). | |
(d) On April 26, 2013, the Company issued a convertible debenture with a non-related party for $15,254 (US$15,000). The debenture is secured by 15,000,000 shares of common stock of the Company, to be delivered to the lender if principal and interest are not repaid on maturity, bears interest at 24% per annum, and matures on April 27, 2014. The note, plus accrued interest, is convertible into common shares at a conversion price of US$0.001 per share at the discretion of the lender and at any time during the term of this debenture. | |
As the convertible debt terms include a beneficial conversion feature, the Company accounted for the debt terms in accordance with ASC 470, Debt – Debt with Conversions and Other Options. The conversion feature resulted in a discount on the convertible note of $15,000. During the nine months ended October 31, 2013, the Company recorded accretion expense of $3,451 (2012 - $0). As of October 31, 2013, the carrying value of the convertible debenture is $3,598 (US$3,451) (January 31, 2013 - $0). |
Derivative_Liabilities
Derivative Liabilities | 6 Months Ended | ||||
Oct. 31, 2013 | |||||
Notes | ' | ||||
Derivative Liabilities | ' | ||||
6. Derivative Liabilities | |||||
Derivative liabilities consist of convertible debentures with variable conversion prices and share purchase warrants originally issued in private placements with conversion/exercise prices denominated in United States dollars, which differs from the Company’s functional currency. The fair values of these derivative liabilities are as follows: | |||||
October 31, | January 31, | ||||
2013 | 2013 | ||||
$ | $ | ||||
(unaudited) | |||||
December 2010 convertible debenture | 62,282 | 62,086 | |||
February 2011 convertible debenture | 33,536 | 33,431 | |||
Default penalty on convertible debentures | 56,372 | 56,194 | |||
75,000 warrants expiring on July 4, 2013 | - | 6 | |||
3,800,000 warrants expiring on July 30, 2015 | 67,318 | 18,388 | |||
219,508 | 170,105 | ||||
The fair values of derivative financial liabilities were determined using the Black-Scholes option pricing model, using the following assumptions: | |||||
Expected Volatility | Risk-free Interest Rate | Expected Dividend Yield | Expected Life (in years) | ||
As at issuance date: | |||||
December 2010 convertible debenture | 125% | 1.19% | 0% | 0.75 | |
February 2011 convertible debenture | 125% | 1.27% | 0% | 0.75 | |
Default penalty on convertible debenture | 125% | 0.08% | 0% | 0.50 | |
75,000 warrants expiring on July 4, 2013 | 125% | 0.30% | 0% | 2.00 | |
3,800,000 warrants expiring on July 30, 2015 | 125% | 1.26% | 0% | 4.50 | |
As at October 31, 2013: | |||||
December 2010 convertible debenture | 348% | 0.04% | 0% | 0.25 | |
February 2011 convertible debenture | 348% | 0.04% | 0% | 0.25 | |
Default penalty on convertible debenture | 348% | 0.04% | 0% | 0.25 | |
3,800,000 warrants expiring on July 30, 2015 | 492% | 0.25% | 0% | 1.75 |
Common_Shares
Common Shares | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Common Shares | ' |
7. Common Shares | |
(a) During the period ended October 31, 2013, the Company authorized the issuance of 30,000,000 common shares with a fair value of $63,000 for finance costs, which has been recorded in common stock issuable. Refer to Note 4(a). | |
(b) On September 26, 2013, the Company issued 35,000,000 common shares with a fair value of $525,000 to settle an amount due to the President and CEO of the Company with a book value of $35,000, resulting in a loss on settlement of debt of $490,000. |
Share_Purchase_Warrants
Share Purchase Warrants | 6 Months Ended | ||
Oct. 31, 2013 | |||
Notes | ' | ||
Share Purchase Warrants | ' | ||
8. Share Purchase Warrants | |||
The following table summarizes the continuity of share purchase warrants: | |||
Number of | Weighted Average Exercise Price | ||
Warrants | (US$) | ||
Balance, January 31, 2012 | 3,975,000 | 0.01 | |
Expired | (100,000) | 0.15 | |
Balance, January 31, 2013 | 3,875,000 | 0.01 | |
Expired | (75,000) | 0.15 | |
Balance, October, 31, 2013 | 3,800,000 | 0.01 | |
As at October 31, 2013, the following share purchase warrants were outstanding: | |||
Number of Warrants | Exercise | Expiry Date | |
Price | |||
$ | |||
3,800,000 | 0.005 | 30-Jul-15 |
Stock_Options
Stock Options | 6 Months Ended | ||||
Oct. 31, 2013 | |||||
Notes | ' | ||||
Stock Options | ' | ||||
9. Stock Options | |||||
The following table summarizes the continuity of the Company’s stock options: | |||||
Number of Options | Weighted Average Exercise Price (US$) | Weighted Average Remaining Contractual Life (years) | |||
Aggregate | |||||
Intrinsic | |||||
Value | |||||
(US$) | |||||
Outstanding, October 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Exercisable, October 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Outstanding, January 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Exercisable, January 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Additional information regarding stock options as of October 31, 2013, is as follows: | |||||
Number of | Exercise | Expiry Date | |||
Options | Price | ||||
$ | |||||
800,000 | 0.005 | 25-May-15 | |||
Related_Party_Transactions
Related Party Transactions | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Related Party Transactions | ' |
10. Related Party Transactions | |
(b) On September 24, 2013, the Company issued 35,000,000 common shares with a fair value of $525,000 to settle an amount due to the President and CEO of the Company with a book value of $35,000, resulting in a loss on settlement of debt of $490,000. | |
(c) During the nine months ended October 31, 2013, the Company incurred $22,500 (2012 - $30,000) of management fees to directors and officers of the Company. | |
(d) As at October 31, 2013, the Company owed $218,221 (January 31, 2013 - $206,532) to a director of the Company, which is unsecured, non-interest bearing, and due on demand. |
Subsequent_Events
Subsequent Events | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Subsequent Events | ' |
11. Subsequent Events | |
The Company has evaluated subsequent events through the date of issuance of the financial statements, and did not have any material recognizable subsequent events. |
Significant_Accounting_Policie1
Significant Accounting Policies: Basis of Presentation (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Basis of Presentation | ' |
(a) Basis of Presentation | |
The financial statements and the related notes of the Company are prepared in accordance with generally accepted accounting principles in the United States and are expressed in Canadian dollars. The Company’s fiscal year-end is January 31. |
Significant_Accounting_Policie2
Significant Accounting Policies: Use of Estimates (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Use of Estimates | ' |
(b) Use of Estimates | |
The preparation of these financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, valuation of convertible debentures, assumptions used to determine the fair values of stock-based compensation and derivative liabilities, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Significant_Accounting_Policie3
Significant Accounting Policies: Interim Financial Statements (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Interim Financial Statements | ' |
(c) Interim Financial Statements | |
These interim unaudited financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. |
Significant_Accounting_Policie4
Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Cash and Cash Equivalents | ' |
(d) Cash and Cash Equivalents | |
The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at October 31 and January 31, 2013, the Company had no cash equivalents. |
Significant_Accounting_Policie5
Significant Accounting Policies: Property and Equipment (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Property and Equipment | ' |
(e) Property and Equipment | |
Property and equipment is comprised of office equipment and is recorded at cost. The Company amortizes the cost of equipment on a straight-line basis over their estimated useful life of five years. |
Significant_Accounting_Policie6
Significant Accounting Policies: Long-lived Assets (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Long-lived Assets | ' |
(f) Long-lived Assets | |
In accordance with ASC 360, “Property, Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value, which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. |
Significant_Accounting_Policie7
Significant Accounting Policies: Stock-based Compensation (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Stock-based Compensation | ' |
(g) Stock-Based Compensation | |
The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock-Based Compensation, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. |
Significant_Accounting_Policie8
Significant Accounting Policies: Derivative Financial Instruments (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Derivative Financial Instruments | ' |
(h) Derivative Financial Instruments | |
Derivative financial instruments that are not classified as equity and are not used in hedging relationships are measured at fair value. Subsequent changes to fair value are recorded in the statement of operations. |
Significant_Accounting_Policie9
Significant Accounting Policies: Loss Per Share (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Loss Per Share | ' |
(i) Loss Per Share | |
The Company computes net loss per share in accordance with ASC 260, Earnings Per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At October 31, 2013, the Company has 184,567,924 (January 31, 2013 – 148,529,182) potentially dilutive shares. |
Recovered_Sheet1
Significant Accounting Policies: Comprehensive Loss (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Comprehensive Loss | ' |
(j) Comprehensive Loss | |
ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at October 31 and January 31, 2013, the Company had no items representing comprehensive income or loss. |
Recovered_Sheet2
Significant Accounting Policies: Research and Development Costs (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Research and Development Costs | ' |
(k) Research and Development Costs | |
Research costs are expensed in the period that they are incurred. |
Recovered_Sheet3
Significant Accounting Policies: Financial Instruments and Fair Value Measures (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Financial Instruments and Fair Value Measures | ' |
(l) Financial Instruments and Fair Value Measures | |
ASC 820, Fair Value Measurements, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: | |
Level 1 | |
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. | |
Level 2 | |
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. | |
Level 3 | |
Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. | |
The Company’s financial instruments consist principally of cash, amounts receivable, accounts payable and accrued liabilities, amounts due to related parties, loans payable, and convertible debentures. Pursuant to ASC 820, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets and derivative liabilities is determined based on “Level 2” inputs, as determined by observable market data. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. |
Recovered_Sheet4
Significant Accounting Policies: Foreign Currency Translation (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Foreign Currency Translation | ' |
(m) Foreign Currency Translation | |
The Company’s functional currency and its reporting currency is the Canadian dollar and foreign currency transactions are primarily undertaken in United States dollars. Monetary assets and liabilities are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Expenses are translated at average rates for the period. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. |
Recovered_Sheet5
Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Recent Accounting Pronouncements | ' |
(n) Recent Accounting Pronouncements | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 6 Months Ended | ||||
Oct. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Property, Plant and Equipment | ' | ||||
Cost | Accumulated amortization | October 31, | January 31, | ||
$ | $ | 2013 | 2013 | ||
Net carrying value | Net carrying value | ||||
$ | $ | ||||
Office furniture and equipment | 2,276 | 1,290 | 986 | 1,328 |
Derivative_Liabilities_Schedul
Derivative Liabilities: Schedule of Derivative Liabilities at Fair Value (Tables) | 6 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Derivative Liabilities at Fair Value | ' | ||
October 31, | January 31, | ||
2013 | 2013 | ||
$ | $ | ||
(unaudited) | |||
December 2010 convertible debenture | 62,282 | 62,086 | |
February 2011 convertible debenture | 33,536 | 33,431 | |
Default penalty on convertible debentures | 56,372 | 56,194 | |
75,000 warrants expiring on July 4, 2013 | - | 6 | |
3,800,000 warrants expiring on July 30, 2015 | 67,318 | 18,388 | |
219,508 | 170,105 |
Derivative_Liabilities_Schedul1
Derivative Liabilities: Schedule of Interest Rate Derivatives (Tables) | 6 Months Ended | ||||
Oct. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Interest Rate Derivatives | ' | ||||
Expected Volatility | Risk-free Interest Rate | Expected Dividend Yield | Expected Life (in years) | ||
As at issuance date: | |||||
December 2010 convertible debenture | 125% | 1.19% | 0% | 0.75 | |
February 2011 convertible debenture | 125% | 1.27% | 0% | 0.75 | |
Default penalty on convertible debenture | 125% | 0.08% | 0% | 0.50 | |
75,000 warrants expiring on July 4, 2013 | 125% | 0.30% | 0% | 2.00 | |
3,800,000 warrants expiring on July 30, 2015 | 125% | 1.26% | 0% | 4.50 | |
As at October 31, 2013: | |||||
December 2010 convertible debenture | 348% | 0.04% | 0% | 0.25 | |
February 2011 convertible debenture | 348% | 0.04% | 0% | 0.25 | |
Default penalty on convertible debenture | 348% | 0.04% | 0% | 0.25 | |
3,800,000 warrants expiring on July 30, 2015 | 492% | 0.25% | 0% | 1.75 |
Share_Purchase_Warrants_Schedu
Share Purchase Warrants: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables) | 6 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Stockholders' Equity Note, Warrants or Rights | ' | ||
Number of | Weighted Average Exercise Price | ||
Warrants | (US$) | ||
Balance, January 31, 2012 | 3,975,000 | 0.01 | |
Expired | (100,000) | 0.15 | |
Balance, January 31, 2013 | 3,875,000 | 0.01 | |
Expired | (75,000) | 0.15 | |
Balance, October, 31, 2013 | 3,800,000 | 0.01 |
Share_Purchase_Warrants_Schedu1
Share Purchase Warrants: Schedule of Purchase Price Allocation (Tables) | 6 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Purchase Price Allocation | ' | ||
Number of Warrants | Exercise | Expiry Date | |
Price | |||
$ | |||
3,800,000 | 0.005 | 30-Jul-15 |
Stock_Options_Schedule_of_Opti
Stock Options: Schedule of Options Indexed to Issuer's Equity (Tables) | 6 Months Ended | ||||
Oct. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Options Indexed to Issuer's Equity | ' | ||||
Number of Options | Weighted Average Exercise Price (US$) | Weighted Average Remaining Contractual Life (years) | |||
Aggregate | |||||
Intrinsic | |||||
Value | |||||
(US$) | |||||
Outstanding, October 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Exercisable, October 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Outstanding, January 31, 2013 | 800,000 | 0.005 | 1.56 | - | |
Exercisable, January 31, 2013 | 800,000 | 0.005 | 1.56 | - |
Stock_Options_Additional_Infor
Stock Options: Additional Information Regarding Stock Options As of October 31, 2013, Is As Follows (Tables) | 6 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Additional Information Regarding Stock Options As of October 31, 2013, Is As Follows: | ' | ||
Additional information regarding stock options as of October 31, 2013, is as follows: | |||
Number of | Exercise | Expiry Date | |
Options | Price | ||
$ | |||
800,000 | 0.005 | 25-May-15 |
Nature_of_Operations_and_Conti1
Nature of Operations and Continuance of Business (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Details | ' | ' |
Retained Earnings (Accumulated Deficit) | $704,057 | ' |
Deficit accumulated during the development stage | $2,859,123 | $2,160,372 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 6 Months Ended | |||
Oct. 31, 2013 | Jan. 31, 2013 | |||
Details | ' | ' | ||
Property, Plant and Equipment, Additions | $2,276 | ' | ||
Accumulated Amortization of Other Deferred Costs | 1,290 | ' | ||
Property and equipment | $986 | [1] | $1,328 | [1] |
[1] | See Note 3 |
Loans_Payable_Details
Loans Payable (Details) (USD $) | Oct. 31, 2013 | Sep. 19, 2013 | Mar. 30, 2013 | Jan. 31, 2013 | ||
Details | ' | ' | ' | ' | ||
Other Notes Payable | ' | $10,000 | $30,000 | ' | ||
Accounts Payable, Interest-bearing, Interest Rate | ' | 24.00% | 24.00% | ' | ||
Common Stock issuable | 288,000 | [1] | 10,000,000 | 30,000,000 | 225,000 | [1] |
Loans Payable, Fair Value Disclosure | ' | ' | $63,000 | ' | ||
[1] | See Note 7 |
Convertible_Debentures_Details
Convertible Debentures (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 | Dec. 04, 2011 | Oct. 31, 2013 | Jan. 31, 2013 | Jun. 29, 2011 | Jun. 23, 2011 | Feb. 23, 2011 | Dec. 17, 2010 | Oct. 31, 2013 | Jan. 31, 2013 | Jul. 11, 2011 | Feb. 23, 2011 | Oct. 31, 2013 | Oct. 31, 2012 | Jan. 31, 2013 | Dec. 04, 2011 | Jul. 07, 2011 | Oct. 31, 2013 | Oct. 31, 2012 | Apr. 26, 2013 | Jan. 31, 2013 | ||
Unrelated Party1 | Unrelated Party1 | Unrelated Party1 | Unrelated Party1 | Unrelated Party1 | Unrelated Party1 | Unrelated Party2 | Unrelated Party2 | Unrelated Party2 | Unrelated Party2 | Unrelated Party3 | Unrelated Party3 | Unrelated Party3 | Unrelated Party3 | Unrelated Party3 | Unrelated Party4 | Unrelated Party4 | Unrelated Party4 | Unrelated Party4 | ||||||
Convertible Notes Payable | ' | ' | ' | ' | ' | ' | ' | ' | $65,000 | ' | ' | ' | $40,000 | ' | ' | ' | $100,000 | $85,000 | ' | ' | $15,000 | ' | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | ' | ' | ' | ' | ' | ' | ' | 8.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | 24.00% | 24.00% | ' | ' | 24.00% | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | ' | 65,079 | ' | ' | ' | 37,944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Common Stock, Shares, Issued | ' | ' | ' | ' | ' | 169,697 | 145,455 | ' | ' | ' | ' | 230,303 | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ||
Convertible Debt | ' | ' | ' | 39,000 | 39,000 | 14,000 | 12,000 | ' | ' | 21,000 | 21,000 | 19,000 | ' | 100,000 | ' | 100,000 | ' | ' | 3,451 | ' | ' | 0 | ||
Debt Instrument, Debt Default, Amount | ' | ' | ' | 20,000 | 20,000 | ' | ' | ' | ' | 10,000 | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Derivative liabilities, current portion | 152,190 | [1] | 151,717 | [1] | ' | 96,540 | 84,220 | ' | ' | ' | ' | 55,650 | 67,491 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due from Other Related Parties | ' | ' | 85,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest Receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,551 | ' | ' | ' | ' | ' | ||
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ||
Liabilities Subject to Compromise, Early Contract Termination Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225,000 | ' | ' | ' | ' | ' | ||
Accretion Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $32,541 | ' | ' | ' | $3,451 | $0 | ' | ' | ||
[1] | See Note 6 |
Derivative_Liabilities_Schedul2
Derivative Liabilities: Schedule of Derivative Liabilities at Fair Value (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 | ||
Derivative liabilities | $67,318 | [1] | $18,388 | [1] |
December, 2010 | ' | ' | ||
Derivative liabilities | 62,282 | 62,086 | ||
February, 2011 | ' | ' | ||
Derivative liabilities | 33,536 | 33,431 | ||
Default Penalty on convertible debentures | ' | ' | ||
Derivative liabilities | 56,372 | 56,194 | ||
75,000 warratns expiring on July 4, 2013 | ' | ' | ||
Warrant Expiration | ' | 6 | ||
3,800,000 warrants expiring on July 30, 2015 | ' | ' | ||
Warrant Expiration | $67,318 | $18,388 | ||
[1] | See Note 6 |
Derivative_Liabilities_Schedul3
Derivative Liabilities: Schedule of Interest Rate Derivatives (Details) | 6 Months Ended |
Oct. 31, 2013 | |
As At Issuance Date December 2010 Convertible Debenture | ' |
Fair Value Assumptions, Expected Volatility Rate | 125.00% |
Fair Value Assumptions, Risk Free Interest Rate | 1.19% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
As At Issuance Date February 2011 Convertible Debenture | ' |
Fair Value Assumptions, Expected Volatility Rate | 125.00% |
Fair Value Assumptions, Risk Free Interest Rate | 1.27% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Default Penalty on Convertible Debenture | ' |
Fair Value Assumptions, Expected Volatility Rate | 125.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.08% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
75,000 Warrants Expiring on July 4, 2013 | ' |
Fair Value Assumptions, Expected Volatility Rate | 125.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.30% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
3,800,000 warrants expiring on July 30, 2015 | ' |
Fair Value Assumptions, Expected Volatility Rate | 125.00% |
Fair Value Assumptions, Risk Free Interest Rate | 1.26% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
As At October 31, 2013 December 2010 Convertible Debenture | ' |
Fair Value Assumptions, Expected Volatility Rate | 348.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.04% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
As At October 31, 2013 February 2011 Convertible Debenture | ' |
Fair Value Assumptions, Expected Volatility Rate | 348.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.04% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
As At October 31, 2013 Default Penalty on Convertible Debenture | ' |
Fair Value Assumptions, Expected Volatility Rate | 348.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.04% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
As At October 31, 2013 3,800,000 Warrants Expiring on July 30, 2015 | ' |
Fair Value Assumptions, Expected Volatility Rate | 492.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.25% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Share_Purchase_Warrants_Schedu2
Share Purchase Warrants: Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
Oct. 30, 2013 | Jan. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2013 | |
Details | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | 3,875,000 | 3,975,000 | 3,975,000 | 3,800,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $0.01 | $0.01 | $0.01 | $0.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | -75,000 | ' | -100,000 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $0.15 | $0.15 | ' | ' |
Share_Purchase_Warrants_Schedu3
Share Purchase Warrants: Schedule of Purchase Price Allocation (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 | Jan. 31, 2012 | Jul. 31, 2013 |
Warrant | ||||
30-Jul-15 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,800,000 | 3,875,000 | 3,975,000 | 3,800,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $0.01 | $0.01 | $0.01 | $0.01 |
Stock_Options_Schedule_of_Opti1
Stock Options: Schedule of Options Indexed to Issuer's Equity (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Details | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 800,000 | 800,000 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $0.01 | $0.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 1.56 | 1.56 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 800,000 | 800,000 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $0.01 | $0.01 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | 1.56 | 1.56 |
Stock_Options_Additional_Infor1
Stock Options: Additional Information Regarding Stock Options As of October 31, 2013, Is As Follows (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 | Jan. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,800,000 | 3,875,000 | 3,975,000 |
Warrant | May 25, 2015 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 800,000 | ' | ' |
Fair Value Assumptions, Exercise Price | 0.005 | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 9 Months Ended | ||||
Oct. 31, 2013 | Oct. 31, 2012 | Sep. 24, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | |
Director | Director | ||||
Shares, Issued | ' | ' | 35,000,000 | ' | ' |
Increase (Decrease) in Due to Other Related Parties, Current | $22,500 | $30,000 | ' | ' | ' |
Due to Other Related Parties | ' | ' | ' | $218,221 | $206,532 |