Significant Transactions with Related Parties

6 Months Ended

Mar. 31, 2019

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Accounts payable – related parties were $434 as of March 31, 2019 (September 30, 2018 - $Nil) for expenses to be reimbursed to directors. This amount is unsecured, non-interest bearing, and has no fixed terms of repayment.

Subscriptions receivable – related parties was $Nil as of March 31, 2019 (September 30, 2018 - $15,000) for the amount owed to the Company from one director for the exercise of his stock options.

As of March 31, 2019, officers, directors, their families, and their controlled entities have acquired 53.96% of the Company’s outstanding common capital stock. This percentage does not include unexercised warrants or stock options.

The Company incurred expenses $67,941 to one related party, Concorde Consulting, and entity controlled by a director, for professional fees and consulting services provided to the Company during the period ended March 31, 2019 (March 31, 2018 - $71,001). These amounts were fully paid as of March 31, 2019.

DEEP WELL OIL & GAS INC 10-Q