10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

(Amendment No. 1)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended: September 30, 2012

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 000-51638

GULFSLOPE ENERGY, INC.

(Exact name of the issuer as specified in its charter)

Delaware	16-1689008
(State or Other Jurisdiction of	(I.R.S. Employer I.D. No.)
incorporation or organization)

3 Riverway, Suite 1800 

Houston, Texas 77056  (Address of Principal Executive Offices)

(713) 942-6639

(Issuer’s Telephone Number)

Securities registered pursuant to Section 12(b) of the Exchange Act: None

Securities registered pursuant to Section 12(g) of the Exchange Act: Common Stock, par value $0.01

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X]

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes [ ] No [X]

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

(1) Yes [X] No [ ] (2) Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ]

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company:

Large accelerated filer	[ ]	Accelerated filer	[ ]
Non-accelerated filer	[ ]	Smaller reporting company	[X]

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [ ]

State the aggregate market value of the voting and non-voting common stock held by non-affiliates computed by reference to the price at which the common stock was last sold, or the average bid and asked price of such common stock, as of the last business day of the Registrant’s most recently completed second fiscal quarter.

The market value of the voting stock held by non-affiliates was $11,274,180 based on 18,790,000 shares held by non-affiliates. These computations are based upon the closing bid price of $0.60 for the common stock of the Company on the OTC Bulletin Board of the Financial Industry Regulatory Authority, Inc. (“FINRA”) on March 30, 2012.

Indicate the number of shares outstanding of each of the Registrant’s classes of common equity, as of the latest practicable date:

Class	Outstanding as of December 14, 2012
Common Capital Voting Stock, $0.001 par value per share	235,150,000

Documents incorporated by reference: None

EXPLANATORY NOTE

GulfSlope Energy, Inc. (the “Company,” “we,” or “our” unless the context indicates otherwise) is filing this Amendment No. 1 on Form 10-K/A (this “Amendment”) to our Annual Report on Form 10-K for the fiscal year ended September 30, 2012, as filed on December 31, 2012 (the “Original Filing”) to correct the comparative balance sheet information for the fiscal year ended September 30, 2011 to reflect the correct par value of the Company’s common stock and additional paid in capital. This correction resulted in a decrease to common stock with an offsetting increase to additional paid in capital for the presentation of these equity accounts within the fiscal year ended September 30, 2011 balance sheet only.  No change was required for total equity on the balance sheet for the fiscal year ended September 30, 2011, or to any other financial statement or disclosure.  This Amendment on Form 10-K/A only amends the Original Filing as noted above. This Amendment does not affect any other parts of or exhibits to the Original Filing, and no other information in the Original Filing, including the fiscal year ended September 30, 2011 statement of stockholders’ equity or related notes to the financial statements, are amended hereby. Except for the amendments described above, this Amendment on Form 10-K/A continues to describe conditions as of the date of the Original Filing, and the disclosures contained herein have not been updated to reflect events, results or developments that occurred after the Original Filing, or to modify or update those disclosures affected by subsequent events. Among other things, forward-looking statements made in the Original Filing have not been revised to reflect events, results or developments that occurred or facts that became known to us after the date of the Original Filing, and such forward-looking statements should be read in their historical context. Additionally, in connection with the filing of this Form 10-K/A and pursuant to Securities and Exchange Commission (“SEC”) rules, we are including currently dated certifications. 

1

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

GulfSlope Energy, Inc.

[A Development Stage Company]

TABLE OF CONTENTS

	Page
Report of Independent Registered Public Accounting Firm	3
Balance Sheets - September 30, 2012 and 2011	4
Statements of Operations for the Years Ended September 30, 2012 and 2011 and for the period from inception [December 12, 2003] through September 30, 2012	5
Statement of Stockholders’ Equity for the period from inception [December 12, 2003] through September 30, 2012	6
Statements of Cash Flows for the Years Ended September 30, 2012 and 2011 and for the period from inception [December 12, 2003] through September 30, 2012	8
Notes to the Financial Statements	9-12

2

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders

GulfSlope Energy, Inc. [a development stage company]

We have audited the accompanying balance sheets of GulfSlope Energy, Inc. [a development stage company] as of September 30, 2012 and 2011, and the related statements of operations, stockholders’ equity (deficit), and cash flows for the years ended September 30, 2012 and 2011, and for the period from inception [December 12, 2003] through September 30, 2012. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform an audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company has determined that it is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the Company’s internal controls over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of GulfSlope Energy, Inc. [a development stage company] as of September 30, 2012 and 2011, and the results of its operations and cash flows for the years ended September 30, 2012 and 2011, and for the period from inception through September 30, 2012, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has established no significant operations or revenue sources during the period from inception through September 30, 2012. These issues raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustment that might result from the outcome of this uncertainty.

Mantyla McReynolds, LLC

Salt Lake City, Utah

December 31, 2012

3

GulfSlope Energy, Inc. [fka Plan A Promotions, Inc.]

(A Development Stage Company)

BALANCE SHEETS

September 30, 2012 and 2011

	September 30,
	2012			2011
Assets
Current Assets
Cash	$	423,009		$	87,505
Prepaid Expenses		329,373			-
Total Current Assets		752,382			87,505
Total Assets	$	752,382		$	87,505
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable	$	31,731		$	543
Accrued Liabilities		-			100
Related-Party Payable		31,183			1,619
Total Current Liabilities		62,914			2,262
Total Liabilities		62,914			2,262
Stockholders' Equity
Preferred Stock; par value ($0.001);		-			-
Authorized 50,000,000 shares
none issued or outstanding
Common Stock; par value ($0.001);
Authorized 750,000,000 shares; issued
and outstanding 235,150,000 and 10,000,000, respectively		235,150			10,000
Stock Subscription Receivable		-			(6,500	)
Additional Paid in Capital – Shares to be issued		-			116,500
Additional Paid-in Capital		2,151,610			125,260
Deficit Accumulated during the development stage		(1,697,292	)		(160,017	)
Total Stockholders' Equity		689,468			85,243
Total Liabilities and Stockholders' Equity	$	752,382		$	87,505

See accompanying notes to financial statements

4

GulfSlope Energy, Inc. [fka Plan A Promotions, Inc.]

(A Development Stage Company)

STATEMENTS OF OPERATIONS

For the years ended September 30, 2012 and 2011 and for the

period from Inception [December 12, 2003] through September 30, 2012

							Since Inception
							[December 12,
	For the Year Ended			For the Year Ended			2003] through
	September 30, 2012			September 30, 2011			September 30, 2012
Revenues	$	-		$	-		$	9,694
Revenues from Related Parties		-			-			2,346
Total Revenue		-			-			12,040
Cost of Sales		-			-			8,394
Cost of Sales to Related Parties		-			-			2,101
Total Cost of Sales		-			-			10,495
Gross Profit		-			-			1,545
General & Administrative Expenses		1,537,215			57,355			1,682,523
Net Loss from Operations		(1,537,215	)		(57,355	)		(1,680,978	)
Other Income/(Expenses):
Interest Expense		(60	)		(3,375	)		(15,514	)
Net Loss Before Income Taxes		(1,537,275	)		(60,730	)		(1,696,492	)
Provision for Income Taxes		-			(100	)		(800	)
Net Loss	$	(1,537,275	)	$	(60,830	)	$	(1,697,292	)
Loss Per Share - Basic and Diluted	$	(0.02	)	$	(0.02	)	$	(0.16	)
Weighted Average Shares Outstanding - Basic and Diluted		83,487,568			3,610,959			10,819,549

See accompanying notes to financial statements

5

GulfSlope Energy, Inc. [fka Plan A Promotions, Inc.]

(A Development Stage Company)

STATEMENTS OF STOCKHOLDERS’ EQUITY / (DEFICIT)

For the period from Inception [December 12, 2003]

through September 30, 2012

	Common				Additional Paid-in			Common Shares To		Additional Paid-in Capital Common Shares		Subscription		Accumulated			Net Stockholders
	Shares		Amount		Capital			Be Issued		To Be Issued		Receivable		Deficit			Equity
Balance, December 12, 2003 (Inception)		-	$	-		$	-	$	-	$	-	$	-	$	-			$	-
Common stock issued for cash		1,200,000		1,200			33,537		-		-		-		-				34,737
Property contributed by shareholder		-		-			1,500								-				1,500
Net loss from inception on December 12, 2003																			-
through September 30, 2004		-		-			-		-		-		-		(3,400	)			(3,400	)
Balance, September 30, 2004		1,200,000		1,200			35,037		-		-		-		(3,400	)			32,837
Net loss for the year ended September 30, 2005		-		-			-		-		-		-		(11,324	)			(11,324	)
Balance, September 30, 2005		1,200,000		1,200			35,037		-		-		-		(14,724	)			21,513
Net loss for the year ended September 30, 2006		-		-			-		-		-		-		(21,682	)			(21,682	)
Balance, September 30, 2006		1,200,000		1,200			35,037		-		-		-		(36,406	)			(169	)
Net loss for the year ended September 30, 2007		-		-			-		-		-		-		(18,256	)			(18,256	)
Balance, September 30, 2007		1,200,000		1,200			35,037		-		-		-		(54,662	)			(18,425	)
Net loss for the year ended September 30, 2008		-		-			-		-		-		-		(21,674	)			(21,674	)
Balance, September 30, 2008		1,200,000		1,200			35,037		-		-		-		(76,336	)			(40,099	)

6

Net loss for the year ended September 30, 2009	-		-		-	-			-			-			(11,289	)		(11,289	)
Balance, September 30, 2009	1,200,000		1,200		35,037	-			-			-			(87,625	)		(51,388	)
Net loss for the year ended September 30, 2010	-		-		-	-			-			-			(11,562	)		(11,562	)
Balance, September 30, 2010	1,200,000		1,200		35,037	-			-			-			(99,187	)		(62,950	)
Related party debt forgiveness	-		-		11,023	-			-			-			-			11,023
Common stock issued for cash	8,800,000		8,800		79,200	-			-			-			-			88,000
Additional paid in capital – shares to be issued	-		-		-	11,000,000			110,000			-			-			110,000
Common stock to be issued	-		-		-	650,000			6,500			(6,500	)		-			-
Net loss for the year ended September 30, 2011	-		-		-	-			-			-			(60,830	)		(60,830	)
Balance, September 30, 2011	10,000,000	$	10,000	$	125,260	11,650,000		$	116,500		$	(6,500	)	$	(160,017	)	$	85,243
Shares issued from common shares to be issued	11,650,000		11,650		104,850	(11,650,000	)		(116,500	)		6,500						6,500
Common stock issued for cash	78,500,000		78,500		706,500													785,000
Shares issued for services	135,000,000		135,000		1,215,000													1,350,000
Net loss for the twelve months ended Sept 30, 2012	-		-		-	-			-			-			(1,537,275	)		(1,537,275	)
Balance, Sept 30, 2012	235,150,000	$	235,150	$	2,151,610	-		$	-		$	-		$	(1,697,292	)	$	689,468

See accompanying notes to financial statements

7

GulfSlope Energy, Inc. [fka Plan A Promotions, Inc.]

(A Development Stage Company)

STATEMENTS OF CASH FLOWS

For the years ended September 30, 2012 and 2011 and for the

period from Inception [December 12, 2003] through September 30, 2012

							Since Inception
							[December 12,
	For the Year Ended			For the Year Ended			2003] through
	September 30, 2012			September 30, 2011			September 30, 2012
Net Loss	$	(1,537,275	)	$	(60,830	)	$	(1,697,292	)
Adjustments to reconcile net loss to net cash
From Operating Activities:
Depreciation		-			-			8,906
Stock issued for services		1,350,000			-			1,350,000
Changes in operating assets and liabilities:
(Increase)/Decrease in Prepaid Expenses		(329,373)			-			(329,373)
Increase/(Decrease) in Accounts Payable/Accrued Liabilities		31,089			(7,115	)		31,732
Increase/(Decrease) in Accrued Interest/Related Party Payable		29,563			(6,472	)		42,205
Net Cash From Operating Activities		(455,996	)		(74,417	)		(593,822	)
Cash From Investing Activities
Purchase of equipment		-			-			(7,406	)
Net Cash From Investing Activities		-			-			(7,406	)
Cash From Financing Activities
Proceeds for stock issuance		791,500			88,000			914,237
Proceeds for stock not issued		-			110,000			110,000
Loan from shareholders		-			5,691			41,769
Payment on loans from shareholders		-			(41,769	)		(41,769	)
Net Cash From Financing Activities		791,500			161,922			1,024,237
Net Increase/(Decrease) in cash		335,504			87,505			423,009
Beginning Cash Balance		87,505			-			-
Ending Cash Balance	$	423,009		$	87,505		$	423,009
Supplemental Schedule of Cash Flow Activities
Cash paid for income taxes	$	-		$	100		$	800
Cash paid for interest	$	60		$	11,296		$	11,356
Related party debt forgiveness	$	-		$	11,023		$	11,023
Property contributed by shareholder	$	-		$	-		$	1,500
Stock issued for prepaid expenses	$	550,000		$	-		$	550,000

See accompanying notes to financial statements

8

GulfSlope Energy, Inc. [fka Plan A Promotions, Inc.]

(A Development Stage Company)

Notes to the Financial Statements

September 30, 2012

NOTE 1 ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Organization

GulfSlope Energy, Inc. (the “Company”) was founded December 12, 2003 as Lostwood Professional Services, Inc. and was organized to engage in the business of producing and selling promotional merchandise. The Company was incorporated under the laws of the State of Utah. The Company is no longer actively involved in the promotional merchandise industry. We are currently seeking potential assets, property or businesses to acquire, in a business combination, by reorganization, merger or acquisition.

(b) Income Taxes

The Company applies the provisions of FASB Accounting Standard Codification (ASC) 740 Income Taxes. The Statement requires an asset and liability approach for financial accounting and reporting for income taxes, and the recognition of deferred tax assets and liabilities for the temporary differences between the financial reporting basis and tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance is provided if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

(c) Net Loss Per Common Share

Loss per common share is based on the weighted-average number of common shares outstanding. Diluted loss per share is computed using weighted average number of common shares plus dilutive common share equivalents outstanding during the period using the treasury stock method. As of September 30, 2011 the Company had 11,650,000 shares waiting to be issued. These shares, subsequently issued in 2012, were not included in the computation of diluted loss per share for the twelve months ended September 30, 2011, as their effect would have been anti-dilutive, thereby decreasing loss per common share.  The Company had no common stock equivalents outstanding as of September 30, 2012.

(d) Statement of Cash Flows

For purposes of the Statements of Cash Flows, the Company considers cash on deposit in the bank to be cash.  The Company had $423,009 cash as of September 30, 2012.  The Company had $87,505 cash as of September 30, 2011.

(e) Use of Estimates in Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(f) Impact of New Accounting Standards

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

9

NOTE 2 LIQUIDITY/GOING CONCERN

The Company’s plan  of operation for the next twelve  months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt a business plan regarding engaging in the business of any selected industry; and (iii) commence such operations through funding and/or the acquisition of a “going concern” engaged in any industry selected.   However, the Company has only $752,382 in assets, and has not  established operations, and has accumulated losses since inception.  These factors raise substantial doubt about the Company’s ability to continue as a going concern.    The Company estimates that it will need to raise a minimum of $500,000 to meet its obligations during fiscal year 2013   The Company plans to finance the Company through equity and/or debt financings.   The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 3 INCOME TAXES

The provision for income taxes consists of the following as of September 30, 2012 and 2011:

	9/30/2012		9/30/2011
FEDERAL
Current	$	0	$	0
Deferred		0		0
STATE
Current		0		100
Deferred		0		0
TOTAL PROVISION	$	0	$	100

Deferred income tax assets and liabilities at September 30, 2012 and 2011 consist of the following temporary differences:

	9/30/2012			9/30/2011
DEFERRED TAX ASSETS
Current	$	0		$	0
Noncurrent
Net operating losses		336,029			28,923
Related party interest		0			0
Differences in book/tax depreciation		0			0
Total noncurrent	$	336,029		$	28,923
Valuation Allowance		(336,029	)		(28,923	)
NET DEFERRED TAX ASSET		0			0
DEFERRED TAX LIABILITIES		0			0
NET DEFERRED TAXES	$	0		$	0

The Company’s valuation allowance has increased $307,151 during the year ended September 30, 2012. The income/franchise tax payable at September 30, 2011 of $100 is the minimum tax due to the State of Utah for the year ended September 30, 2011.

The following is a summary of federal net operating loss carryforwards and their expiration dates:

Amount		Expiration
$	3,203	9/30/2024
	7,695	9/30/2025
	18,447	9/30/2026
	16,876	9/30/2027
	17,986	9/30/2028
	8,596	9/30/2029
	7, 713	9/30/2030
	64,097	9/31/2031
	1,535,757	9/31/2032
$	1,680,370	Total

10

A reconciliation between income taxes at statutory tax rates (20%) and the actual income tax provision for continuing operations as of September 30, 2012 and 2011 is as follows:

	9/30/2012			9/30/2011
Expected provision (based on statutory rate)	$	(307,455	)	$	(12,146	)
Effect of:
Increasein valuation allowance		307,152			10,790
State minimum tax, net of federal benefit		0			85
Non-deductible expense		303			802
Temporary differences due to depreciation		0			0
Graduated rates		0			569
Total actual provision	$	0		$	100

Uncertain Tax Positions

The Company has not made any adjustments to deferred tax assets or liabilities. The Company did not identify any material uncertain tax positions of the Company on returns that have been filed or that will be filed. The Company has not had operations and is carrying a large Net Operating Loss as disclosed above. Since it is not thought that this Net Operating Loss will ever produce a tax benefit, even if examined by taxing authorities and disallowed entirely, there would be no effect on the financial statements.

The Company’s policy is to recognize potential interest and penalties accrued related to unrecognized tax benefits within general and administrative expenses for penalties and interest expense for interest. For the years ended September 30, 2012 and 2011, the Company did not recognize any interest or penalties, nor did we have any interest or penalties accrued as of September 30, 2012 and 2011 relating to unrecognized benefits.

The tax years ended September 30, 2010, through 2012 are open for examination for federal income tax purposes and by other major taxing jurisdictions to which we are subject.

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.

11

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.

NOTE 5 RELATED PARTY TRANSACTIONS

During August through September 2011, John Preftokis, the Company’s former President and Chief Executive Officer, paid $1,619 in expenses to third parties on behalf of the Company.  The amount was paid in full on June 6, 2012.

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.   John Preftokis resigned as sole officer and director of the Company on June 21, 2012.

On May 1, 2012, James Askew, a shareholder and currently the Company’s sole executive officer and director, loaned the Company the sum of $7,200.  The Company issued a promissory note in the original principal amount of $7,200.  The note bore interest at 10% per annum and was due and payable upon the earlier of (i) June 1, 2012 and (ii) the closing of an equity or equity equivalent financing resulting in gross proceeds of at least $500,000.  The outstanding principal due under the note was convertible at any time into shares of Company common stock at a conversion price of $0.01 per share.   The Company paid the principal and all accrued interest in full in cash on June 21, 2012.

 In May 2012, the Company and Mr. Askew entered into a consulting agreement pursuant to which Mr. Askew would provide the Company’s board of directors advice relating to certain of the Company’s strategic and business development activities (at a high level), including business development financing, and corporate strategy.  In consideration for entering into the consulting agreement, Mr. Askew was issued 50 million shares of the Company’s common stock.  Mr. Askew’s obligations under the consulting agreement were replaced and superseded as described below.

In May 2012, the Company and John B. Connally III, entered into a consulting agreement pursuant to which Mr. Connally would provide the Company’s board of directors advice relating to certain of the Company’s strategic and business development activities (at a high level), including business development financing, and corporate strategy.  In consideration for entering into the consulting agreement, Mr. Connally was issued 50 million shares of the Company’s common stock, and as a result of such issuance, Mr. Connally now holds in excess of 10% of our outstanding shares of common stock.  In July 2012, Mr. Connally’s consulting agreement was amended, and in consideration for the significant amount of time Mr. Connally has and will devote to the Company, the Company agreed to pay Mr. Connally a one-time $25,000 cash retainer and a monthly cash consulting fee of $10,000 per month beginning July 1, 2012.

On June 21, 2012, James Askew was appointed as the Company’s President, Chief Executive Officer, Secretary, Treasurer, and as Chairman of the board of directors.  In connection with the appointment of Mr. Askew, the Company and Mr. Askew entered into an employment agreement, dated effective June 21, 2012, pursuant to which Mr. Askew has agreed to serve in the capacities set forth above for a period of three (3) years.  The agreement may be terminated by the Company without cause upon 90 days written notice.  Under the agreement, Mr. Askew will be paid a base salary of $300,000 per year, and will be eligible to receive bonuses at the discretion of the Company’s board of directors.  The agreement also entitled Mr. Askew to participate in the Company’s benefit plans.  The Company also paid Mr. Askew a one-time cash sign-on bonus of $100,000.  The agreement does not provide for any severance payments upon termination of the agreement by the Company, other than provisions for the reimbursement of accrued expenses and unpaid base compensation.  The agreement also contains confidentiality provisions consistent with his fiduciary duties owed to the Company.  This employment agreement replaced and superseded Mr. Askew’s consulting agreement entered into in May 2012 (see description of the May 2012 consulting agreement above in this Note 5).   The 50 million shares issued to Mr. Askew were unaffected by the replacement of the May 2012 consulting agreement with the June 2012 employment agreement.

On June 22, 2012, subsequent to the date of his resignation as an officer and director of the Company, the Company entered into a one-year consulting agreement with John Preftokis.  In consideration for entering into the consulting agreement, Mr. Preftokis was issued 5 million shares of Company common stock.  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.

During August and September, the Company’s current Chief Executive Officer paid $31,183 in expenses on behalf of the Company.   The $31,183 related party payable was outstanding as of September 30, 2012.

12

 ITEM 15: EXHIBITS, FINANCIAL STATEMENT SCHEDULES

Exhibits. The following exhibits are filed as part of this Annual Report:

No.	Description
3.1	Certificate of Incorporation of GulfSlope Energy, Inc. incorporated by reference to Exhibit 3.1 of the Company’s Form 8-K filed April 23, 2012.
3.2	Bylaws of GulfSlope Energy, Inc. incorporated by reference to Exhibit 3.2 of the Company’s Form 8-K filed April 23, 2012.
4.1	Common Stock Specimen incorporated by reference to Exhibit 4.1 of the Company’s Form 10-K filed December 31, 2012
10.1	Employment Agreement, by and between the Company and James M. Askew, incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K filed June 25, 2012
10.2	Form of Subscription Agreement incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K filed with the Securities and Exchange Commission on June 6, 2012
14.1	Code of Ethics incorporated by reference to Exhibit 14.1 of the Company’s Form 10-K filed December 31, 2012
31.1	Certification of Principal Executive Officer and Principal Financial Officer as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
32.1	Certification of Principal Executive and Principal Financial Officer Pursuant to 18 U.S.C Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *
101	The following financial information from our Annual Report on Form 10-K for the fiscal year ended September 30, 2011, filed with the Securities and Exchange Commission on December 21, 2011, formatted in Extensible Business Reporting language (XBRL); (i) Condensed Balance Sheets, (ii) Condensed Statements of Operations, (iii) Condensed Statements of Cash Flows and (iv) Notes to the Condensed Financial Statements(1)

* Filed herewith

(1) Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized.

GulfSlope Energy, Inc.

Date:	January [__], 2013	By:	/s/ James M. Askew
			James M. Askew
			President and Director, Principal Executive Officer, Principal Financial Officer

13

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT

I, James M. Askew, certify that:

1.	I have reviewed this Annual Report on Form 10-K/A of GulfSlope Energy, Inc. (the “Registrant”);
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

Date:  January [__], 2013

/s/ James M. Askew

James M. Askew

Chief Executive Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of GulfSlope Energy, Inc. (the “Company”) on Form 10-K/A for the year ended September 30, 2012, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James M. Askew, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1)           The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Act of 1934, as amended, and

(2)           The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:  January [__], 2013

/s/ James M. Askew

James M. Askew

Chief Executive Officer

XML

INCOME TAXES

12 Months Ended

Sep. 30, 2012

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 3 INCOME TAXES

The provision for income taxes consists of the following as of September 30, 2012 and 2011:

	9/30/2012		9/30/2011
FEDERAL
Current	$	0	$	0
Deferred		0		0
STATE
Current		0		100
Deferred		0		0
TOTAL PROVISION	$	0	$	100

Deferred income tax assets and liabilities at September 30, 2012 and 2011 consist of the following temporary differences:

	9/30/2012			9/30/2011
DEFERRED TAX ASSETS
Current	$	0		$	0
Noncurrent
Net operating losses		336,029			28,923
Related party interest		0			0
Differences in book/tax depreciation		0			0
Total noncurrent	$	336,029		$	28,923
Valuation Allowance		(336,029	)		(28,923	)
NET DEFERRED TAX ASSET		0			0
DEFERRED TAX LIABILITIES		0			0
NET DEFERRED TAXES	$	0		$	0

The Company�s valuation allowance has increased $307,151 during the year ended September 30, 2012. The income/franchise tax payable at September 30, 2011 of $100 is the minimum tax due to the State of Utah for the year ended September 30, 2011.

The following is a summary of federal net operating loss carryforwards and their expiration dates:

Amount		Expiration
$	3,203	9/30/2024
	7,695	9/30/2025
	18,447	9/30/2026
	16,876	9/30/2027
	17,986	9/30/2028
	8,596	9/30/2029
	7, 713	9/30/2030
	64,097	9/31/2031
	1,535,757	9/31/2032
$	1,680,370	Total

A reconciliation between income taxes at statutory tax rates (20%) and the actual income tax provision for continuing operations as of September 30, 2012 and 2011 is as follows:

	9/30/2012			9/30/2011
Expected provision (based on statutory rate)	$	(307,455	)	$	(12,146	)
Effect of:
Increasein valuation allowance		307,152			10,790
State minimum tax, net of federal benefit		0			85
Non-deductible expense		303			802
Temporary differences due to depreciation		0			0
Graduated rates		0			569
Total actual provision	$	0		$	100

Uncertain Tax Positions

The Company has not made any adjustments to deferred tax assets or liabilities. The Company did not identify any material uncertain tax positions of the Company on returns that have been filed or that will be filed. The Company has not had operations and is carrying a large Net Operating Loss as disclosed above. Since it is not thought that this Net Operating Loss will ever produce a tax benefit, even if examined by taxing authorities and disallowed entirely, there would be no effect on the financial statements.

The Company�s policy is to recognize potential interest and penalties accrued related to unrecognized tax benefits within general and administrative expenses for penalties and interest expense for interest. For the years ended September 30, 2012 and 2011, the Company did not recognize any interest or penalties, nor did we have any interest or penalties accrued as of September 30, 2012 and 2011 relating to unrecognized benefits.

The tax years ended September 30, 2010, through 2012 are open for examination for federal income tax purposes and by other major taxing jurisdictions to which we are subject.

XML

LIQUIDITY/GOING CONCERN

12 Months Ended

Sep. 30, 2012

LIQUIDITY/GOING CONCERN [Abstract]

LIQUIDITY/GOING CONCERN

NOTE 2 LIQUIDITY/GOING CONCERN

The Company�s plan  of operation for the next twelve  months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt a business plan regarding engaging in the business of any selected industry; and (iii) commence such operations through funding and/or the acquisition of a �going concern� engaged in any industry selected.   However, the Company has only $752,382 in assets, and has not  established operations, and has accumulated losses since inception.  These factors raise substantial doubt about the Company�s ability to continue as a going concern.    The Company estimates that it will need to raise a minimum of $500,000 to meet its obligations during fiscal year 2013   The Company plans to finance the Company through equity and/or debt financings.   The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

XML

BALANCE SHEETS (USD $)	Sep. 30, 2012	Sep. 30, 2011
Current Assets
Cash	$ 423,009	$ 87,505
Prepaids	329,373
Total Current Assets	752,382	87,505
Total Assets	752,382	87,505
Current Liabilities
Accounts Payable	31,731	543
Accrued Liabilities		100
Related-Party Payable	31,183	1,619
Total Current Liabilities	62,914	2,262
Total Liabilities	62,914	2,262
Stockholders' Equity
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares none issued or outstanding
Common Stock; par value ($0.001); Authorized 750,000,000 shares; issued and outstanding 230,150,000 and 10,000,000 respectively	235,150	10,000
Stock Subscription Receivable		(6,500)
Additonal Paid in Capital - Shares to be issued		116,500
Additional Paid-in Capital	2,151,610	125,260
Deficit Accumulated during the development stage	(1,697,292)	(160,017)
Total Stockholders' Equity	689,468	85,243
Total Liabilities and Stockholders' Equity	$ 752,382	$ 87,505

XML

STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended		106 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Cash From Operating Activities
Net Loss	$ (1,537,275)	$ (60,830)	$ (1,697,292)
Adjustments to reconcile net loss to net cash From Operating Activities:
Depreciation			8,906
Stock issued for services	1,350,000		1,350,000
Changes in operating assets and liabilities:
(Increase)/Decrease in Prepaid Expenses	(329,373)		(329,373)
Increase/(Decrease) in Accounts Payable/Accrued Liabilities	31,089	(7,115)	31,732
Increase/(Decrease) in Accrued Interest/Related Party Payable	29,563	(6,472)	42,205
Net Cash From Operating Activities	(455,996)	(74,417)	(593,822)
Cash From Investing Activities
Purchase of Equipment			(7,406)
Net Cash From Investing Activities			(7,406)
Cash From Financing Activities
Proceeds for stock issuance	791,500	88,000	914,237
Proceeds for stock not issued		110,000	110,000
Loan from shareholders		5,691	41,769
Payment on loans from shareholders		(41,769)	(41,769)
Net Cash From Financing Activities	791,500	161,922	1,024,237
Net Increase/(Decrease) in cash	335,504	87,505	423,009
Beginning Cash Balance	87,505
Ending Cash Balance	423,009	87,505	423,009
Supplemental Schedule of Cash Flow Activities
Cash paid for income taxes		100	800
Cash paid for interest	60	11,296	11,356
Related party debt forgiveness		11,023	11,023
Property contributed by shareholder			1,500
Stock issued for prepaid services	$ 550,000		$ 550,000

XML

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Sep. 30, 2012

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Organization

GulfSlope Energy, Inc. (the �Company�) was founded December 12, 2003 as Lostwood Professional Services, Inc. and was organized to engage in the business of producing and selling promotional merchandise. The Company was incorporated under the laws of the State of Utah. The Company is no longer actively involved in the promotional merchandise industry. We are currently seeking potential assets, property or businesses to acquire, in a business combination, by reorganization, merger or acquisition.

(b) Income Taxes

The Company applies the provisions of FASB Accounting Standard Codification (ASC) 740 Income Taxes. The Statement requires an asset and liability approach for financial accounting and reporting for income taxes, and the recognition of deferred tax assets and liabilities for the temporary differences between the financial reporting basis and tax basis of the Company�s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance is provided if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

(c) Net Loss Per Common Share

Loss per common share is based on the weighted-average number of common shares outstanding. Diluted loss per share is computed using weighted average number of common shares plus dilutive common share equivalents outstanding during the period using the treasury stock method. As of September 30, 2011 the Company had 11,650,000 shares waiting to be issued. These shares, subsequently issued in 2012, were not included in the computation of diluted loss per share for the twelve months ended September 30, 2011, as their effect would have been anti-dilutive, thereby decreasing loss per common share.  The Company had no common stock equivalents outstanding as of September 30, 2012.

(d) Statement of Cash Flows

For purposes of the Statements of Cash Flows, the Company considers cash on deposit in the bank to be cash.  The Company had $423,009 cash as of September 30, 2012.  The Company had $87,505 cash as of September 30, 2011.

(e) Use of Estimates in Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(f) Impact of New Accounting Standards

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

XML

BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2012	Sep. 30, 2011
Condensed Balance Sheets [Abstract]
Preferred Stock, par value per share	$ 0.001	$ 0.001
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued
Preferred Stock, shares outstanding
Common Stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares authorized	750,000,000	750,000,000
Common Stock, shares issued	235,150,000	10,000,000
Common Stock, shares outstanding	235,150,000	10,000,000

XML

INCOME TAXES (Schedule of Deferred Income Tax Assets and Liabilities) (Details) (USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Current
Current	$ 0	$ 0
Noncurrent
Net operating losses	336,029	28,923
Related party interest	0	0
Differences in book/tax depreciation	0	0
Total noncurrent	336,029	28,923
Valuation Allowance	(336,029)	(28,923)
NET DEFERRED TAX ASSET	0	0
DEFERRED TAX LIABILITIES	0	0
NET DEFERRED TAXES	0	0
Valuation allowance increase	307,151
Income/franchise taxes payable		$ 100

XML

Document and Entity Information (USD $)

12 Months Ended

Sep. 30, 2012

Dec. 14, 2012

Mar. 30, 2012

Document and Entity Information [Abstract]

Document Type

10-K/A

Amendment Flag

true

Amendment Description

EXPLANATORY NOTE

GulfSlope Energy, Inc. (the "Company," "we," or "our" unless the context indicates otherwise) is filing this Amendment No. 1 on Form 10-K/A (this "Amendment") to our Annual Report on Form 10-K for the fiscal year ended September 30, 2012, as filed on December 31, 2012 (the "Original Filing") to correct the comparative balance sheet information for the fiscal year ended September 30, 2011 to reflect the correct par value of the Company's common stock and additional paid in capital. This correction resulted in a decrease to common stock with an offsetting increase to additional paid in capital for the presentation of these equity accounts within the fiscal year ended September 30, 2011 balance sheet only. No change was required for total equity on the balance sheet for the fiscal year ended September 30, 2011, or to any other financial statement or disclosure. This Amendment on Form 10-K/A only amends the Original Filing as noted above. This Amendment does not affect any other parts of or exhibits to the Original Filing, and no other information in the Original Filing, including the fiscal year ended September 30, 2011 statement of stockholders' equity or related notes to the financial statements, are amended hereby. Except for the amendments described above, this Amendment on Form 10-K/A continues to describe conditions as of the date of the Original Filing, and the disclosures contained herein have not been updated to reflect events, results or developments that occurred after the Original Filing, or to modify or update those disclosures affected by subsequent events. Among other things, forward-looking statements made in the Original Filing have not been revised to reflect events, results or developments that occurred or facts that became known to us after the date of the Original Filing, and such forward-looking statements should be read in their historical context. Additionally, in connection with the filing of this Form 10-K/A and pursuant to Securities and Exchange Commission ("SEC") rules, we are including currently dated certifications. For convenience, the entire Annual Report on Form 10-K, as amended, is being re-filed.

Document Period End Date

Sep. 30, 2012

Entity Registrant Name

GULFSLOPE ENERGY, INC.

Entity Central Index Key

0001341726

Current Fiscal Year End Date

--09-30

Document Fiscal Period Focus

FY

Document Fiscal Year Focus

2012

Entity Filer Category

Smaller Reporting Company

Entity Common Stock, Shares Outstanding

235,150,000

Entity Public Float

$ 11,274,180

Entity Voluntary Filers

No

Entity Well-known Seasoned Issuer

No

Entity Current Reporting Status

Yes

XML

INCOME TAXES (Summary of Federal Net Operating Loss Carryforwards) (Details) (USD $)	12 Months Ended
	Sep. 30, 2012
Operating Loss Carryforwards [Line Items]
Amount	$ 1,680,370
Federal Net Operating Loss Carryforward 1 [Member]
Operating Loss Carryforwards [Line Items]
Amount	3,203
Expiration	2024-09-30
Federal Net Operating Loss Carryforward 2 [Member]
Operating Loss Carryforwards [Line Items]
Amount	7,695
Expiration	2025-09-30
Federal Net Operating Loss Carryforward 3 [Member]
Operating Loss Carryforwards [Line Items]
Amount	18,447
Expiration	2026-09-30
Federal Net Operating Loss Carryforward 4 [Member]
Operating Loss Carryforwards [Line Items]
Amount	16,876
Expiration	2027-09-30
Federal Net Operating Loss Carryforward 5 [Member]
Operating Loss Carryforwards [Line Items]
Amount	17,986
Expiration	2028-09-30
Federal Net Operating Loss Carryforward 6 [Member]
Operating Loss Carryforwards [Line Items]
Amount	8,596
Expiration	2029-09-30
Federal Net Operating Loss Carryforward 7 [Member]
Operating Loss Carryforwards [Line Items]
Amount	7,713
Expiration	2030-09-30
Federal Net Operating Loss Carryforward 8 [Member]
Operating Loss Carryforwards [Line Items]
Amount	64,097
Expiration	2031-09-30
Federal Net Operating Loss Carryforward 9 [Member]
Operating Loss Carryforwards [Line Items]
Amount	$ 1,535,757
Expiration	2032-09-30

XML

STATEMENTS OF OPERATIONS (USD $)	12 Months Ended		106 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Condensed Statements of Operations [Abstract]
Revenues			$ 9,694
Revenues from Related Parties			2,346
Total Revenue			12,040
Cost of Sales			8,394
Cost of Sales to Related Parties			2,101
Total Cost of Sales			10,495
Gross Profit			1,545
General & Administrative Expenses	1,537,215	57,355	1,682,523
Net Loss from Operations	(1,537,215)	(57,355)	(1,680,978)
Other Income/(Expenses):
Interest expense	(60)	(3,375)	(15,514)
Net Loss Before Income Taxes	(1,537,275)	(60,730)	(1,696,492)
Provision for Income Taxes		(100)	(800)
Net Loss	$ (1,537,275)	$ (60,830)	$ (1,697,292)
Loss Per Share - Basic and Diluted	$ (0.02)	$ (0.02)	$ (0.16)
Weighted Average Shares Outstanding - Basic and Diluted	83,487,568	3,610,959	10,819,549

XML

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Sep. 30, 2012

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Organization

(a) Organization

GulfSlope Energy, Inc. (the �Company�) was founded December 12, 2003 as Lostwood Professional Services, Inc. and was organized to engage in the business of producing and selling promotional merchandise. The Company was incorporated under the laws of the State of Utah. The Company is no longer actively involved in the promotional merchandise industry. We are currently seeking potential assets, property or businesses to acquire, in a business combination, by reorganization, merger or acquisition.

Income Taxes

(b) Income Taxes

The Company applies the provisions of FASB Accounting Standard Codification (ASC) 740 Income Taxes. The Statement requires an asset and liability approach for financial accounting and reporting for income taxes, and the recognition of deferred tax assets and liabilities for the temporary differences between the financial reporting basis and tax basis of the Company�s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance is provided if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Net Loss Per Common Share

(c) Net Loss Per Common Share

Loss per common share is based on the weighted-average number of common shares outstanding. Diluted loss per share is computed using weighted average number of common shares plus dilutive common share equivalents outstanding during the period using the treasury stock method. As of September 30, 2011 the Company had 11,650,000 shares waiting to be issued. These shares, subsequently issued in 2012, were not included in the computation of diluted loss per share for the twelve months ended September 30, 2011, as their effect would have been anti-dilutive, thereby decreasing loss per common share.  The Company had no common stock equivalents outstanding as of September 30, 2012.

Statement of Cash Flows

(d) Statement of Cash Flows

For purposes of the Statements of Cash Flows, the Company considers cash on deposit in the bank to be cash.  The Company had $423,009 cash as of September 30, 2012.  The Company had $87,505 cash as of September 30, 2011.

Use of Estimates in Preparation of Financial Statements

(e) Use of Estimates in Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Impact of New Accounting Standards

(f) Impact of New Accounting Standards

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

XML

RELATED PARTY TRANSACTIONS

12 Months Ended

Sep. 30, 2012

RELATED PARTY TRANSACTIONS [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 5 RELATED PARTY TRANSACTIONS

During August through September 2011, John Preftokis, the Company�s former President and Chief Executive Officer, paid $1,619 in expenses to third parties on behalf of the Company.  The amount was paid in full on June 6, 2012.

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.   John Preftokis resigned as sole officer and director of the Company on June 21, 2012.

On May 1, 2012, James Askew, a shareholder and currently the Company�s sole executive officer and director, loaned the Company the sum of $7,200.  The Company issued a promissory note in the original principal amount of $7,200.  The note bore interest at 10% per annum and was due and payable upon the earlier of (i) June 1, 2012 and (ii) the closing of an equity or equity equivalent financing resulting in gross proceeds of at least $500,000.  The outstanding principal due under the note was convertible at any time into shares of Company common stock at a conversion price of $0.01 per share.   The Company paid the principal and all accrued interest in full in cash on June 21, 2012.

In May 2012, the Company and Mr. Askew entered into a consulting agreement pursuant to which Mr. Askew would provide the Company�s board of directors advice relating to certain of the Company�s strategic and business development activities (at a high level), including business development financing, and corporate strategy.  In consideration for entering into the consulting agreement, Mr. Askew was issued 50 million shares of the Company�s common stock.  Mr. Askew�s obligations under the consulting agreement were replaced and superseded as described below.

In May 2012, the Company and John B. Connally III, entered into a consulting agreement pursuant to which Mr. Connally would provide the Company�s board of directors advice relating to certain of the Company�s strategic and business development activities (at a high level), including business development financing, and corporate strategy.  In consideration for entering into the consulting agreement, Mr. Connally was issued 50 million shares of the Company�s common stock, and as a result of such issuance, Mr. Connally now holds in excess of 10% of our outstanding shares of common stock.  In July 2012, Mr. Connally�s consulting agreement was amended, and in consideration for the significant amount of time Mr. Connally has and will devote to the Company, the Company agreed to pay Mr. Connally a one-time $25,000 cash retainer and a monthly cash consulting fee of $10,000 per month beginning July 1, 2012.

On June 21, 2012, James Askew was appointed as the Company�s President, Chief Executive Officer, Secretary, Treasurer, and as Chairman of the board of directors.  In connection with the appointment of Mr. Askew, the Company and Mr. Askew entered into an employment agreement, dated effective June 21, 2012, pursuant to which Mr. Askew has agreed to serve in the capacities set forth above for a period of three (3) years.  The agreement may be terminated by the Company without cause upon 90 days written notice.  Under the agreement, Mr. Askew will be paid a base salary of $300,000 per year, and will be eligible to receive bonuses at the discretion of the Company�s board of directors.  The agreement also entitled Mr. Askew to participate in the Company�s benefit plans.  The Company also paid Mr. Askew a one-time cash sign-on bonus of $100,000.  The agreement does not provide for any severance payments upon termination of the agreement by the Company, other than provisions for the reimbursement of accrued expenses and unpaid base compensation.  The agreement also contains confidentiality provisions consistent with his fiduciary duties owed to the Company.  This employment agreement replaced and superseded Mr. Askew�s consulting agreement entered into in May 2012 (see description of the May 2012 consulting agreement above in this Note 5).   The 50 million shares issued to Mr. Askew were unaffected by the replacement of the May 2012 consulting agreement with the June 2012 employment agreement.

On June 22, 2012, subsequent to the date of his resignation as an officer and director of the Company, the Company entered into a one-year consulting agreement with John Preftokis.  In consideration for entering into the consulting agreement, Mr. Preftokis was issued 5 million shares of Company common stock.  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.

During August and September, the Company�s current Chief Executive Officer paid $31,183 in expenses on behalf of the Company.   The $31,183 related party payable was outstanding as of September 30, 2012.

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INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details) (USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
INCOME TAXES [Abstract]
Statutory tax rate	20.00%	20.00%
Expected provision (based on statutory rate)	$ (307,455)	$ (12,146)
Effect of:
Increase in valuation allowance	307,152	10,790
State minimum tax, net of federal benefit	0	85
Non-deductible expense	303	802
Temporary differences due to depreciation	0	0
Graduated rates	0	569
Total actual provision	$ 0	$ 100

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LIQUIDITY/GOING CONCERN (Details) (USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
LIQUIDITY/GOING CONCERN [Abstract]
Assets	$ 752,382	$ 87,505
Capital required to meet obligations during fiscal year 2013	$ 500,000

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INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2012

INCOME TAXES [Abstract]

Schedule of Income Tax Provision

	9/30/2012		9/30/2011
FEDERAL
Current	$	0	$	0
Deferred		0		0
STATE
Current		0		100
Deferred		0		0
TOTAL PROVISION	$	0	$	100

Schedule of Deferred Income Tax Assets and Liabilities

	9/30/2012			9/30/2011
DEFERRED TAX ASSETS
Current	$	0		$	0
Noncurrent
Net operating losses		336,029			28,923
Related party interest		0			0
Differences in book/tax depreciation		0			0
Total noncurrent	$	336,029		$	28,923
Valuation Allowance		(336,029	)		(28,923	)
NET DEFERRED TAX ASSET		0			0
DEFERRED TAX LIABILITIES		0			0
NET DEFERRED TAXES	$	0		$	0

Summary of Federal Net Operating Loss Carryforwards

Amount		Expiration
$	3,203	9/30/2024
	7,695	9/30/2025
	18,447	9/30/2026
	16,876	9/30/2027
	17,986	9/30/2028
	8,596	9/30/2029
	7, 713	9/30/2030
	64,097	9/31/2031
	1,535,757	9/31/2032
$	1,680,370	Total

Schedule of Effective Income Tax Rate Reconciliation

	9/30/2012			9/30/2011
Expected provision (based on statutory rate)	$	(307,455	)	$	(12,146	)
Effect of:
Increasein valuation allowance		307,152			10,790
State minimum tax, net of federal benefit		0			85
Non-deductible expense		303			802
Temporary differences due to depreciation		0			0
Graduated rates		0			569
Total actual provision	$	0		$	100

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	12 Months Ended
	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2010	Sep. 30, 2009
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Shares excluded from the computation of diluted loss per share	11,650,000
Cash	$ 87,505	$ 423,009

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INCOME TAXES (Schedule of Income Tax Provision) (Details) (USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
FEDERAL
Current	$ 0	$ 0
Deferred	0	0
STATE
Current	0	100
Deferred	0	0
TOTAL PROVISION	$ 0	$ 100

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RELATED PARTY TRANSACTIONS (Details) (USD $)	2 Months Ended	12 Months Ended		106 Months Ended					2 Months Ended			1 Months Ended
	Jun. 21, 2012	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Oct. 31, 2011	Sep. 30, 2012 John Preftokis [Member]	Jul. 31, 2012 John Preftokis [Member]	May 01, 2012 John Preftokis [Member]	Sep. 30, 2012 James Askew [Member]	Jun. 21, 2012 James Askew [Member]	May 01, 2012 James Askew [Member]	Jul. 31, 2012 John Connally III [Member]	Sep. 30, 2012 John Connally III [Member]	May 01, 2012 John Connally III [Member]
Related Party Transaction [Line Items]
Related parties payable		$ 31,183	$ 1,619	$ 31,183
Consulting agreement, term						1 year							1 year
Shares issued					11,650,000		5,000,000	20,000,000			50,000,000			50,000,000
Loan from shareholders	7,200		5,691	41,769
Promissory note											7,200
Annual rate											10.00%
Maturity terms										due and payable upon the earlier of (i) June 1, 2012 and (ii) the closing of an equity or equity equivalent financing resulting in gross proceeds of at least $500,000.
Minimum proceeds from equity financing event to trigger debt maturity											500,000
Debt conversion, price per share											$ 0.01
Repayments of related party debt	7,200		41,769	41,769
Cash retainer												25,000
Monthly consulting fee												10,000
Outstanding common stock owned, percent														10.00%
Employment agreement, term										3 years
Employment agreement termination, written notice requirement										90 days
Employment agreement, base salary										300,000
Employment agreement, signing bonus										100,000
Prepaid expense		329,373		329,373		36,389
Accrued expense			100			13,611
Expenses paid on behalf of the company									$ 31,183

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STATEMENTS OF STOCKHOLDERS' EQUITY / (DEFICIT) (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Common Shares To Be Issued [Member]	Additional Paid-in Capital Common Shares To Be Issued	Subscription Receivable [Member]	Retained Earnings [Member]
Balance at Dec. 11, 2003
Balance, shares at Dec. 11, 2003
Shares issued from common shares to be issued	34,737	1,200	33,537
Shares issued from common share to be issued, shares		1,200,000
Property contributed by shareholder	1,500		1,500
Net loss for the year	(3,400)						(3,400)
Balance at Sep. 30, 2004	32,837	1,200	35,037				(3,400)
Balance, shares at Sep. 30, 2004		1,200,000
Net loss for the year	(11,324)						(11,324)
Balance at Sep. 30, 2005	21,513	1,200	35,037
Balance, shares at Sep. 30, 2005		1,200,000
Net loss for the year	(21,682)						(21,682)
Balance at Sep. 30, 2006	(169)	1,200	35,037				(36,406)
Balance, shares at Sep. 30, 2006		1,200,000
Net loss for the year	(18,256)						(18,256)
Balance at Sep. 30, 2007	(18,425)	1,200	35,037				(54,662)
Balance, shares at Sep. 30, 2007		1,200,000
Net loss for the year	(21,674)						(21,674)
Balance at Sep. 30, 2008	(40,099)	1,200	35,037				(76,336)
Balance, shares at Sep. 30, 2008		1,200,000
Net loss for the year	(11,289)						(11,289)
Balance at Sep. 30, 2009	(51,388)	1,200	35,037				(87,625)
Balance, shares at Sep. 30, 2009		1,200,000
Net loss for the year	(11,562)						(11,562)
Balance at Sep. 30, 2010	(62,950)	1,200	35,037				(99,187)
Balance, shares at Sep. 30, 2010		1,200,000
Common stock issued for cash	88,000	8,800	79,200
Common stock issued for cash, shares		8,800,000
Related party debt forgiveness	11,023		11,023
Additional paid in capital - shares to be issued	110,000				110,000
Additional paid in capital - shares to be issued, shares				11,000,000
Common stock to be issued					6,500	(6,500)
Common stock to be issued, shares				650,000
Net loss for the year	(60,830)						(60,830)
Balance at Sep. 30, 2011	85,243	10,000	125,260	11,650,000	116,500	(6,500)	(160,017)
Balance, shares at Sep. 30, 2011	10,000,000	10,000,000
Shares issued from common shares to be issued	6,500	11,650	104,850		(116,500)	6,500
Shares issued from common share to be issued, shares		1,650,000		(11,650,000)
Common stock issued for cash	785,000	78,500	706,500
Common stock issued for cash, shares		75,800,000
Shares issued for services	1,350,000	135,000	1,215,000
Shares issued for services, shares		135,000,000
Net loss for the year	(1,537,275)						(1,537,275)
Balance at Sep. 30, 2012	$ 689,468	$ 235,150	$ 2,151,610				$ (1,697,292)
Balance, shares at Sep. 30, 2012	235,150,000	235,150,000

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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.

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COMMON STOCK/PAID IN CAPITAL (Details) (USD $)	1 Months Ended	12 Months Ended		106 Months Ended								1 Months Ended	2 Months Ended
	Oct. 31, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Apr. 13, 2012	Sep. 30, 2012 John Preftokis [Member]	Jul. 31, 2012 John Preftokis [Member]	May 01, 2012 John Preftokis [Member]	May 01, 2012 James Askew [Member]	Sep. 30, 2012 John Connally III [Member]	May 01, 2012 John Connally III [Member]	Oct. 31, 2011 2010 Private Placement [Member]	Jun. 30, 2012 2010 Private Placement [Member]	Sep. 30, 2012 Third Party [Member]	May 01, 2012 Third Party [Member]
Common Stock Issuance [Line Items]
Shares to be issued, gross proceeds			$ 116,500
Subscription receivable, amount received			110,000
Stock subscription receivable			6,500
Shares issued	11,650,000						5,000,000	20,000,000	50,000,000		50,000,000	2,000,000	76,500,000		10,000,000
Proceeds from issuance of common stock	6,500	791,500	88,000	914,237								20,000	765,000
Common stock issued for consulting services, value							50,000	200,000	500,000		500,000				100,000
Common stock issued for consulting services, per share value							$ 0.01	$ 0.01	$ 0.01		$ 0.01				$ 0.01
Common Stock, shares authorized		750,000,000	750,000,000	750,000,000	50,000,000
Common Stock, par value per share		$ 0.001	$ 0.001	$ 0.001	$ 0.01
Consulting agreement, term						1 year				1 year
Preferred Stock, shares authorized		50,000,000	50,000,000	50,000,000	5,000,000
Preferred Stock, par value per share		$ 0.001	$ 0.001	$ 0.001	$ 0.01
Prepaid expense		329,373		329,373		36,389								291,667
Accrued expense			$ 100			$ 13,611								$ 208,333