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EXCEL - IDEA: XBRL DOCUMENT - GULFSLOPE ENERGY, INC.Financial_Report.xls
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EX-4.1 - COMMON STOCK SPECIMEN - GULFSLOPE ENERGY, INC.ex4-1.htm
EX-14.1 - CODE OF ETHICS - GULFSLOPE ENERGY, INC.ex14-1.htm
EX-31.1 - GULFSLOPE ENERGY, INC.ex31-1.htm
EX-32.1 - GULFSLOPE ENERGY, INC.ex32-1.htm
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10-K - GULFSLOPE ENERGY, INC. FORM 10-K FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2012 - GULFSLOPE ENERGY, INC.gulfslope10k093012.htm
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COMMON STOCK/PAID IN CAPITAL
12 Months Ended
Sep. 30, 2012
COMMON STOCK/PAID IN CAPITAL [Abstract]  
COMMON STOCK/PAID IN CAPITAL
NOTE 4 COMMON STOCK/PAID IN CAPITAL

As of September 30, 2011 there were 11,650,000 shares to be issued for gross proceeds of $116,500. The Company had received $110,000 as of September 30, 2011 and the remaining $6,500 was included as a stock subscription receivable.    In October 2011, the 11,650,000 shares were issued, and the $6,500 was received.  The shares were issued private placement in reliance upon the exemptions provided by Section 4(2) of the Securities Act of 1933, as amended (�Securities Act�), and Regulation D promulgated thereunder.

In October 2011, the Company sold 2,000,000 shares of common stock for $20,000 cash in a private placement in reliance upon the exemptions provided by Section 4(2) of the Securities Act and Regulation D promulgated thereunder.

Effective April 13, 2012, the Company completed a reincorporation in the State of Delaware from the State of Utah.  The reincorporation was effected by the merger of Plan A with and into GulfSlope Energy, Inc., a newly formed, wholly owned Delaware subsidiary.  As of the effective time of the reincorporation merger, Plan A ceased to exist as a separate entity with GulfSlope being the surviving entity.  Each outstanding share of common stock of Plan A was automatically converted into one share of GulfSlope common stock.  The par value of GulfSlope common stock and preferred stock changed from $0.01 per share to $0.001 per share.  In addition, the number of authorized shares of common stock was increased from 50,000,000 to 750,000,000 and the number of authorized shares of preferred stock was increased from 5,000,000 to 50,000,000.  These financial statements and related notes give retroactive effect to the change in par value.

On May 1, 2012, the Company issued 20,000,000 shares of common stock to John Preftokis, the Company�s former President and Chief Executive Officer, for services rendered valued at $200,000 or $0.01 per share.

On May 1, 2012, the Company issued 10,000,000 shares of common stock to five third parties for services rendered valued at $100,000 or $0.01 per share.

On May 1, 2012, the Company issued 50,000,000 shares of common stock to a third party for services rendered pursuant to a one-year consulting agreement. This agreement was valued at $500,000 or $0.01 per share.  As of September 30, 2012, $208,333 has been expensed with $291,667 recorded as a prepaid expense.

On May 1, 2012, the Company issued 50,000,000 shares of common stock to James Askew, its current President and Chief Executive Officer, for services rendered pursuant to a one-year consulting agreement.  This agreement was valued at $500,000 or $0.01 per share and expensed in full as the issuance was to an employee of the Company.  See Note 5.

In May and June 2012, the Company sold 76,500,000 shares of common stock for $765,000 cash in a private placement in reliance upon the exemptions provided by Section 4(2) of the Securities Act and Regulation D promulgated thereunder.

On June 22, 2012, the Company entered into a one-year consulting agreement with John Preftokis, the Company�s former President and Chief Executive Officer, for 5,000,000 shares of common stock.  The shares were subsequently issued in July 2012.   This agreement was valued at $50,000, or $0.01 per share.  As of September 30, 2012, $13,611 has been expensed with $36,389 recorded as a prepaid expense.