text: **Changes in Accounting Policies**
  
  The accounting policies applied during the year ended December 31, 2013, are consistent with those used in the audited consolidated financial 
  statements for the year ended December 31, 2012, except for the following new and amended IFRS and International Financial Reporting 
  Interpretations Committee (“IFRIC”) interpretations which were effective for periods beginning on or after July 1, 2012, and January 1, 2013: 
  
  IAS 1 ‑ Financial Statement Presentation (“IAS 1”) — Presentation of Items of Other Comprehensive Income (“OCI”) 
  The amendments to IAS 1 change the grouping of items presented in OCI. Items that could be reclassified (or recycled) to profit or loss at a future 
  point in time (for example, upon derecognition or settlement) would be presented separately from items that will never be reclassified. The 
  adoption of this standard did not have an impact on the Company’s financial position or performance. 
  
  IFRS 10 ‑ Consolidated Financial Statements (“IFRS 10”) 
  IFRS 10 replaces the portion of IAS 27 ‑ Consolidated and Separate Financial Statements (“IAS 27”) that addresses the accounting for consolidated 
  financial statements. IFRS 10 establishes a single control model that applies to all entities including special purpose entities. The changes 
  introduced by IFRS 10 require Management to exercise significant judgment to determine which entities are controlled, and therefore, are 
  required to be consolidated by a parent, compared with the requirements that were in IAS 27. The adoption of this standard did not have an 
  impact on the Company’s financial position or performance. 