Gulf Alternative Energy Corp. (GAEC)

[petermic]

GFET posted a new quarterly report.

http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=12805

On August 27, 2007, we pledged 500,000 shares of our common stock as collateral for a loan made by Texas State Bank to Oxford Funding Corporation, a company which is related to Gulf Ethanol Corporation through common ownership.

33.2 million shares outstanding. Total assets of $34,615.