Current Report Filing (8-k)
October 06 2020 - 4:32PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): September 30, 2020
GULFSLOPE
ENERGY, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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000-51638
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16-1689008
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employee
Identification
No.)
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1331
Lamar St., Suite 1665
Houston,
Texas 77010
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: (281) 918-4100
Not
applicable
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities
registered pursuant to Section 12(b) of the Act: None
Item
1.01 Entry into a Material Definitive Agreement.
Modification
of Terms of Outstanding Debentures
On
September 30, 2020, GulfSlope Energy, Inc. (“GulfSlope” of the “Company”) entered into an agreement (the
“Agreement”) with Delek GOM Investments, LLC (“Delek”), holder of outstanding convertible debentures (the
“Debentures”) issued by the Company in the original principal amount of $1,220,548 that were scheduled to mature on
October 17, 2020. Pursuant to the agreement, the Company and Delek agreed that the Company would make the following payments in
full satisfaction of the Company’s obligations thereunder:
$1,220,548
in cash on the date of the Agreement; and
17,500,000
shares of GulfSlope common stock to be delivered to Delek in lieu of
accrued and unpaid interest in the amount of $129,211.
Upon
the timely payment by the Company of the amounts set forth above, all other amounts due on the Debentures, including any interest
or fees accrued or that will accrue or become due or payable on the Debentures, will be extinguished.
Item
3.02 Unregistered Sale of Equity Securities.
To
the extent applicable, the information set forth under Item 1.01 in relation to the shares of Common Stock issuable is incorporated
into this Item 3.02 by reference.
Cautionary
Note Regarding Forward-Looking Statements
This
Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact included
in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected
costs, prospects, plans and objectives of management are forward-looking statements. When used in this communication, the words
“could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“project,” “forecast, “may,” “objective,” “plan,” and similar expressions
are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently
available information as to the outcome and timing of future events.
We
caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult
to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility,
inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating
risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash
flow and access to capital, the timing of development expenditures, anticipated impact of the COVID-19 outbreak, and other factors
that may affect our future results and business, generally, including those discussed in the Company’s periodic reports
that are filed with the SEC and available on the SEC’s website (http://www.sec.gov).
Should
one or more of these risks occur, or should underlying assumptions prove incorrect, our actual results and plans could differ
materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, are expressly
qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with
any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Except as otherwise
required by applicable law, we disclaim any duty to update any forward-looking statements, to reflect events or circumstances
after the date of this communication.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date:
October 6, 2020
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GULFSLOPE
ENERGY, INC.
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/s/
John N. Seitz
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Name:
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John
N. Seitz
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Title:
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Chief
Executive Officer
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Gulfslope Energy (CE) (USOTC:GSPE)
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