Yes, millions of his own money
Seitz, along with family and close associates, invested millions of dollars in the startup of GSPE. The shares purchased were at .06 IIRC (some considerably higher in later private placements, I think)
Seitz has also personally loaned several million to GSPE and while the loans do have interest accrued, the rates were below typical commercial lending rates at the time
In addition, Seitz does not draw any salary, ZERO
So yes, he has a huge vested interest in the long term success of Gulfslope, he is extremely well qualified, and has many close associates who are in for the long haul success
Definitely not a typical microcap situation
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