Here is what I believe is going on…. For Whatever It Is Worth.
A lender was due to be paid back for monies provided. Gulfslope, being short of cash, has paid them back with stock shares. This transaction was not required to be reported, so no 8-K. Those shares are being converted in to cash.
It is not in the lender’s best interest to harm the share price, so much of this is happening after hours and as negotiated trades between principals. It should be ending soon. It is all in the minutiae of the SEC filings.
So, the company is still strong with support and in possession of a viable future. Shareholders are not the driving force behind these sales. What a relief. We will survive with only a scare. The share price will rebound.
Whoever it is that is buying these shares heard something, sees something, or knows something. And is not afraid to make a financial commitment to get a seat at the table. A noteworthy observation.
Do not give up on Gulfslope Energy. While we may be unaware of what is brewing behind the scenes, this is the fire providing that smoke everyone is seeing.
A wild guess says that Gulfslope has been beating the bushes very hard and has awakened someone’s interest and attention. We need to hang together and see what shakes out.
As was mentioned in T’s recent post, the GSPE management team continues to fight. Since I believe that too, I am standing by them.
Perhaps the best play for us all is to remember the demand for oil and gas is not diminished. And drilling in the GOM is surging.
This is not happening in secret, so there will be others wanting to participate. And Gulfslope is ready and willing to accommodate.
This is a guess. Nothing more than that. And you are welcome to do with it what you will….
Mrs. Smith
