CONVERTIBLE PROMISSORY NOTES PAYABLE – RELATED PARTY	3 Months Ended
Mar. 31, 2016
Brokers and Dealers [Abstract]
CONVERTIBLE PROMISSORY NOTES PAYABLE – RELATED PARTY	NOTE 11 - CONVERTIBLE PROMISSORY NOTES PAYABLE – RELATED PARTY On January 2, 2014, a related party paid Kerr and Keta a further $50,000 in connection with the acquisition of the Cowley leases. On that date the Company issued a promissory note in the amount of $50,000 to the related party. On May 19, 2014 a related party paid certain creditors $7,000. On that date the Company issued a promissory note in the amount of $7,000 to the related party. On July 28, 2014 the Company issued a promissory note in the amount of $5,000 to a related party. The note matures on December 31, 2015 On August 11, 2014 a related party paid a certain creditor $2,500. On that date the Company issued a promissory note in the amount of $2,500 to the related party. As at March 31, 2016, the Company owed $113,490 to related party holders of Convertible Promissory Notes (December 31, 2015 - $113,490) The promissory notes are non-interest bearing until maturity and bear interest at 3% per annum thereafter. The Promissory notes will become due and payable if the Company receives financing totaling $5,000,000 in aggregate prior to the maturity date. The promissory notes are convertible into common shares of the Company either in whole or in part at the option of the Holder.

CONVERTIBLE PROMISSORY NOTES PAYABLE – RELATED PARTY

3 Months Ended

Mar. 31, 2016

CONVERTIBLE PROMISSORY NOTES PAYABLE – RELATED PARTY

NOTE 11 - CONVERTIBLE PROMISSORY NOTES PAYABLE – RELATED PARTY

On January 2, 2014, a related party paid Kerr and Keta a further $50,000 in connection with the acquisition of the Cowley leases. On that date the Company issued a promissory note in the amount of $50,000 to the related party.

On May 19, 2014 a related party paid certain creditors $7,000. On that date the Company issued a promissory note in the amount of $7,000 to the related party.

On July 28, 2014 the Company issued a promissory note in the amount of $5,000 to a related party. The note matures on December 31, 2015

On August 11, 2014 a related party paid a certain creditor $2,500. On that date the Company issued a promissory note in the amount of $2,500 to the related party.

As at March 31, 2016, the Company owed $113,490 to related party holders of Convertible Promissory Notes (December 31, 2015 - $113,490)

The promissory notes are non-interest bearing until maturity and bear interest at 3% per annum thereafter. The Promissory notes will become due and payable if the Company receives financing totaling $5,000,000 in aggregate prior to the maturity date. The promissory notes are convertible into common shares of the Company either in whole or in part at the option of the Holder.

FORMCAP CORP. 10-Q