GulfSlope Energy (GSPE) 10-K 30 Dec 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2019	Dec. 27, 2019	Mar. 31, 2019	Jan. 02, 2019	Jun. 01, 2018	May 01, 2018
Document And Entity Information
Entity Registrant Name	GULFSLOPE ENERGY, INC.
Entity Central Index Key	0001341726
Document Type	10-K
Document Period End Date	Sep. 30, 2019
Entity File Number	000-51638
Entity Incorporation, State Code	DE
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 46,424,568
Shares held by non-affiliates			635,952,993
Entity share price			$ 0.073	$ 0.045	$ 0.075	$ 0.065
Entity Common Stock, Shares Outstanding		1,148,609,520
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Sep. 30, 2019	Sep. 30, 2018
Current Assets
Cash	$ 1,138,919	$ 5,621,814
Accounts Receivable, Net	8,493,308	6,286,796
Prepaid Expenses and Other Current Assets	137,173	32,042
Total Current Assets	9,769,400	11,940,652
Property and Equipment, net of depreciation	13,014	14,786
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties	17,338,978	8,112,784
Other Non-Current Assets	3,662,231	24,785
Total Non-Current Assets	21,014,223	8,152,355
Total Assets	30,783,623	20,093,007
Current Liabilities
Accounts Payable	12,747,382	7,591,236
Deposits from Joint Interest Owners		4,078,786
Related Party Payable	365,904	306,386
Accrued Interest Payable	2,282,217	1,732,239
Accrued Liabilities and Other Payables	1,949,360	268,862
Loans from Related Parties	8,725,500	9,084,500
Notes Payable	267,000
Promissory Notes Payable	1,197,966	135,000
Derivative Financial Instruments	3,534,456	271,710
Funds Received from Capital Raise		965,800
Other	42,746	44,723
Total Current Liabilities	31,112,531	24,479,242
Total Liabilities	31,112,531	24,479,242
Commitments and Contingencies (Note 11)
Stockholders' Deficit
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares, none issued or outstanding
Common Stock; par value ($0.001); Authorized 1,500,000,000 as of September 30, 2019 and 2018; issued and outstanding 1,092,266,844 and 832,013,272, as of September 30, 2019 and 2018, respectively	1,092,266	832,013
Additional Paid-in-Capital	54,160,836	36,640,009
Accumulated Deficit	(55,582,010)	(41,858,257)
Total Stockholders' Deficit	(328,908)	(4,386,235)
Total Liabilities and Stockholders' Deficit	$ 30,783,623	$ 20,093,007

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Sep. 30, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	50,000,000	50,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	1,500,000,000	1,500,000,000
Common stock, issued	1,092,266,844	832,013,272
Common stock, outstanding	1,092,266,844	832,013,272

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Expenses:
Impairment of Oil and Natural Gas Properties	$ 6,000,517
General and Administrative Expenses	1,472,729	$ 1,220,247
Net Loss from Operations	(7,473,246)	(1,220,247)
Other Income (Expense):
Interest Expense, net	(1,828,489)	(780,513)
Interest Income	76,469	27,312
Loss on Debt Extinguishment	(5,099,340)	(136,827)
Gain (Loss) on Derivative Financial Instrument	600,853	(526,459)
Net Loss Before Income Taxes	(13,723,753)	(2,636,734)
Income Taxes	0	0
Net Loss	$ (13,723,753)	$ (2,636,734)
Loss Per Share - Basic and Diluted (in dollars per share)	$ (0.01)	$ 0
Weighted Average Shares Outstanding - Basic and Diluted (in shares)	983,454,724	768,365,759

STATEMENTS OF STOCKHOLDERS' DEF

STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Beginning balance at Sep. 30, 2017	$ 692,196	$ 27,212,577	$ (39,221,523)	$ (11,316,750)
Beginning balance (in shares) at Sep. 30, 2017	692,196,625
Common stock issued for services	$ 84,349	5,122,404		5,206,753
Common stock issued for services (in shares)	84,348,985
Amortization of employee stock options		1,857,531		1,857,531
Value of beneficial conversion feature in conjunction with convertible promissory notes		103,519		103,519
Value of warrants in conjunction with convertible promissory notes		47,387		47,387
Common stock issued for convertible promissory notes	$ 2,000	47,093		49,093
Common stock issued for convertible promissory notes (in shares)	2,000,000
Common Stock Issued for Conversion of Convertible Promissory Note and Accrued Interest	$ 41,851	924,474		966,325
Common Stock Issued for Conversion of Convertible Promissory Note and Accrued Interest (in shares)	41,850,996
Common stock issued for warrants exercised	$ 417	12,083		12,500
Common stock issued for warrants exercised (in shares)	416,666
Common stock issued to settle debt	$ 11,200	1,095,800		1,107,000
Common stock issued to settle debt (in shares)	11,200,000
Value of warrants issued in conjunction with Bridge Note extensions		217,141		217,141
Net Loss			(2,636,734)	(2,636,734)
Ending balance at Sep. 30, 2018	$ 832,013	36,640,009	(41,858,257)	$ (4,386,235)
Ending balance (in shares) at Sep. 30, 2018	832,013,272			832,013,272
Amortization of employee stock options		1,629,333		$ 1,629,333
Value of warrants issued in conjunction with Bridge Note extensions		152,078		152,078
Value of warrants issued in conjunction with term loans, net of capital costs		5,090,470		5,090,470
Common stock and warrants issued in capital raise	$ 19,325	946,925		966,250
Common stock and warrants issued in capital raise (in shares)	19,325,000
Common stock issued for warrants exercised in exchange for extinguishment of term loans, net of capital costs	$ 238,095	9,685,746		9,923,841
Common stock issued for warrants exercised in exchange for extinguishment of term loans, net of capital costs (in shares)	238,095,238
Common stock issued for exercise of Bridge note warrants	$ 2,833	82,167		85,000
Common stock issued for exercise of Bridge note warrants (in shares)	2,833,334
Common stock registration costs		(65,892)		(65,892)
Net Loss			(13,723,753)	(13,723,753)
Ending balance at Sep. 30, 2019	$ 1,092,266	$ 54,160,836	$ (55,582,010)	$ (328,908)
Ending balance (in shares) at Sep. 30, 2019	1,092,266,844			1,092,266,844

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
OPERATING ACTIVITIES
Net Loss	$ (13,723,753)	$ (2,636,734)
Adjustments to Reconcile Net Loss to Cash Provided by (Used in) Operating Activities:
Impairment of Oil and Natural Gas Properties	6,000,517
Depreciation	5,619	4,724
Debt Discount Amortization	625,919	254,501
Capitalization of Interest Expense	(1,109,823)
Loss Recorded to Interest Expense Related to Warrant Derivative Associated with the Issuance of Convertible Notes	1,758,073
Loss on Asset Retirement	3,835
Loss on Debt Extinguishment	5,099,340	526,459
Stock Based Compensation	744,945	1,036,654
Stock Issued for Services		503,076
Change in fair value of Derivatives	(600,853)	136,827
Changes in Operating Assets and Liabilities:
(Increase) Decrease in Accounts Receivable	(5,843,958)	(6,286,796)
(Increase) Decrease in Prepaid Expenses and Other Current Assets	41,179	146,488
Increase (Decrease) in Deposits from Joint Interest Owners	(4,078,786)	4,078,786
Increase (Decrease) in Accounts Payable	4,065,384	5,914,705
Increase (Decrease) in Related Party Payable	59,518	7,928
Increase (Decrease) in Accrued Interest Payable	549,978	520,375
Increase (Decrease) in Accrued Liabilities and Other Payables		633,865
Increase (Decrease) in Other Assets/Liabilities, net	(1,978)	44,723
Net Cash Provided by (Used in) Operating Activities	(6,404,844)	4,885,581
INVESTING ACTIVITIES
Leases Purchased / Lease Rentals Paid	(61,629)	(280,268)
Proceeds from Sale of Working Interest		2,884,651
Insurance Proceeds Received	860,680
Capitalized Exploration and Wells In Process Costs	(11,419,188)	(1,904,618)
Deposits and Equipment Purchases	(7,681)	(22,050)
Net Cash Provided by (Used in) Investing Activities	(10,627,818)	677,715
FINANCING ACTIVITIES
Payments on Note Payable	(146,310)	(160,408)
Proceeds from Convertible Promissory Notes and Warrants	13,252,000	212,500
Deferred Loan and Equity Issuance Costs	(555,923)
Net Cash Provided by (Used in) Financing Activities	12,549,767	52,092
Net Increase (Decrease) in Cash	(4,482,895)	5,615,388
Beginning Cash Balance	5,621,814	6,426
Ending Cash Balance	1,138,919	5,621,814
Supplemental Schedule of Cash Flow Activities:
Cash Paid for Interest	4,343	5,636
Non-Cash Investing and Financing Activities:
Prepaid Asset Financed Through Notes Payable	146,310	156,718
Funds Received from Capital Raise Transferred to Equity Upon Issuance of Common Stock	965,800
Accrued Liabilities, Convertible Notes and Accrued Interest Settled Through Issuance of Common Stock		1,896,999
Term Loans Extinguished Through Exercise of Warrants	10,000,000
Derivative Liability Recorded at Issuance of Convertible Notes Recorded as Deferred Loan Costs	2,137,450
Warrants Issued with Term Loans and Bridge Financing Note Extensions recorded as Deferred Loan Costs	5,349,374
Debt Issuance Costs Retained by Lender Related to Convertible Debentures	333,000
Warrants Issued in Bridge Financing Note Extension	152,078
Accrued Deferred Professional Fees Recorded as Debt Issuance Costs	17,296
Accrued Professional Fees Capitalized as Equity Issuance Costs	142,051
Purchase of Capital Expenditures
Included in Accounts Payable	2,611,913	1,223,792
Through Stock Based Compensation to Employees	$ 884,839	820,877
Through Issuance of Common Stock		$ 4,880,000

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2019
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” or “GulfSlope”) is an independent oil and natural gas exploration company whose interests are concentrated in the United States Gulf of Mexico federal waters offshore Louisiana. The Company has leased 14 federal Outer Continental Shelf blocks (referred to as “prospect,” “portfolio” or “leases”) and licensed three-dimensional (3-D) seismic data in its area of concentration. (b) Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the instructions to Form 10-K and Regulation S-X published by the US Securities and Exchange Commission (the “SEC”). The accompanying financial statements include the accounts of the Company. (c) Going Concern The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred net losses through September 30, 2019 of $55.6 million, has a lack of cash on-hand, and a working capital deficit. These factors raise substantial doubt as to the Company’s ability to continue as a going concern. Management intends to raise additional operating funds through equity and/or debt offerings. Management also plans to extend the agreements associated with loans from related parties, the accrued interest payable on these loans, as well as the Company’s accrued liabilities. However, there can be no assurance that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available, the Company may be required to curtail or cease operations or the Company would need to sell assets or consider alternative plans up to and including restructuring. (d) Cash The Company considers all short-term highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents. There were no cash equivalents at September 30, 2019 and 2018, respectively. (e) Accounts Receivable The Company records an accounts receivable for operations expense reimbursements due from joint interest partners. The Company estimates allowances for doubtful accounts based on the aged receivable balances and historical losses. If the Company determines any account to be uncollectible based on significant delinquency or other factors, we assess the receivable and the underlying asset for recovery. As of September 30, 2019 and 2018, no allowance was recorded. Accounts receivable from oil and gas joint operations are $12.1 million at September 30, 2019, which includes $3.7 million classified as other non-current assets. See note 13 Subsequent Events. (f) Full Cost Method The Company uses the full cost method of accounting for its oil and gas exploration and development activities. Under the full cost method of accounting, all costs associated with successful and unsuccessful exploration and development activities are capitalized on a country-by-country basis into a single cost center (“full cost pool”). Such costs include property acquisition costs, geological and geophysical (“G&G”) costs, carrying charges on non-producing properties, costs of drilling both productive and non-productive wells. Overhead costs, which includes employee compensation and benefits including stock-based compensation, incurred that are directly related to acquisition, exploration and development activities are capitalized. Interest expense is capitalized related to unevaluated properties and wells in process during the period in which the Company is incurring costs and expending resources to get the properties ready for their intended purpose. For significant investments in unproved properties and major development projects that are not being currently depreciated, depleted, or amortized and on which exploration or development activities are in progress, interest costs are capitalized. Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs. A significant alteration would typically involve a sale of 25% or more of the proved reserves related to a single full cost pool. Proved properties are amortized on a country-by-country basis using the units of production method (“UOP”), whereby capitalized costs are amortized over total proved reserves. The amortization base in the UOP calculation includes the sum of proved property, net of accumulated depreciation, depletion and amortization (“DD&A”), estimated future development costs (future costs to access and develop proved reserves), and asset retirement costs, less related salvage value. The costs of unproved properties and related capitalized costs (such as G&G costs) are withheld from the amortization calculation until such time as they are either developed or abandoned. Unproved properties and properties under development are reviewed for impairment at least quarterly and are determined through an evaluation considering, among other factors, seismic data, requirements to relinquish acreage, drilling results, remaining time in the commitment period, remaining capital plan, and political, economic, and market conditions. In countries where proved reserves exist, exploratory drilling costs associated with dry holes are transferred to proved properties immediately upon determination that a well is dry and amortized accordingly. In countries where a reserve base has not yet been established, impairments are charged to earnings. Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve month period. The cost center ceiling is defined as the sum of (a) estimated future net revenues, discounted at 10% per annum, from proved reserves, (b) the cost of properties not being amortized, if any, and (c) the lower of cost or market value of unproved properties included in the cost being amortized. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depreciation, depletion and amortization rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling. The Company capitalizes exploratory well costs into oil and gas properties until a determination is made that the well has either found proved reserves or is impaired. If proved reserves are found, the capitalized exploratory well costs are reclassified to proved properties. The well costs are charged to expense if the exploratory well is determined to be impaired. The Company has drilled two well bores and is currently evaluating such wells for proved reserves. Accordingly such costs are included as suspended well costs at September 30, 2019 and it is expected that a final analysis will be completed in the next twelve months at which time the costs will be transferred to the full cost pool . As of September 30, 2019, the Company’s oil and gas properties consisted of unproved properties, wells in process and no proved reserves. (g) Asset Retirement Obligations The Company’s asset retirement obligations will represent the present value of the estimated future costs associated with plugging and abandoning oil and natural gas wells, removing production equipment and facilities and restoring the seabed in accordance with the terms of oil and gas leases and applicable state and federal laws. Determining asset retirement obligations requires estimates of the costs of plugging and abandoning oil and natural gas wells, removing production equipment and facilities and restoring the sea bed as well as estimates of the economic lives of the oil and gas wells and future inflation rates. The resulting estimate of future cash outflows will be discounted using a credit-adjusted risk-free interest rate that corresponds with the timing of the cash outflows. Cost estimates will consider historical experience, third party estimates, the requirements of oil and natural gas leases and applicable local, state and federal laws, but do not consider estimated salvage values. Asset retirement obligations will be recognized when the wells drilled reach total depth or when the production equipment and facilities are installed or acquired with an associated increase in proved oil and gas property costs. Asset retirement obligations will be accreted each period through depreciation, depletion and amortization to their expected settlement values with any difference between the actual cost of settling the asset retirement obligations and recorded amount being recognized as an adjustment to proved oil and gas property costs. Cash paid to settle asset retirement obligations will be included in net cash provided by operating activities from continuing operations in the statements of cash flows. On a quarterly basis, when indicators suggest there have been material changes in the estimates underlying the obligation, the Company reassesses its asset retirement obligations to determine whether any revisions to the obligations are necessary. At least annually, the Company will assess all of its asset retirement obligations to determine whether any revisions to the obligations are necessary. Future revisions could occur due to changes in estimated costs or well economic lives, or if federal or state regulators enact new requirements regarding plugging and abandoning oil and natural gas wells. The Company has drilled two well bores and is currently evaluating these wells. The two wellbores drilled in 2018 and 2019, were both plugged and therefore the costs related to the asset retirement obligation were incurred. Such costs were recognized as capitalized oil and gas costs. The asset retirement obligation was completely extinguished in that if the well proves not to be commercially viable, there is no further cost needed to remediate the site. (h) Property and Equipment Property and equipment are carried at cost and include expenditures for new equipment and those expenditures that substantially increase the productive lives of existing equipment and leasehold improvements. Maintenance and repair costs are expensed as incurred. Property and equipment are depreciated on a straight-line basis over the assets’ estimated useful lives. Fully depreciated property and equipment still in use are not eliminated from the accounts. The Company assesses the carrying value of its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparing estimated undiscounted cash flows, expected to be generated from such assets, to their net book value. If net book value exceeds estimated cash flows, the asset is written down to its fair value, determined by the estimated discounted cash flows from such asset. When an asset is retired or sold, its cost and related accumulated depreciation and amortization are removed from the accounts. The difference between the net book value of the asset and proceeds on disposition is recorded as a gain or loss in our statements of operations in the period in which they occur. (i) Income Taxes Deferred tax assets and liabilities are recognized 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. The Company’s policy is to recognize potential interest and penalties as a component of income tax expense when incurred. (j) Stock-Based Compensation The Company records expenses associated with the fair value of stock-based compensation. For fully vested and restricted stock grants, the Company calculates the stock based compensation expense based upon estimated fair value on the date of grant. For stock warrants and options, the Company uses the Black-Scholes option valuation model to calculate stock based compensation at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. (k) Stock Issuance The Company records stock-based compensation awards issued to non-employees and other external entities for goods and services at either the fair market value of the goods received or services rendered or the instruments issued in exchange for such services, whichever is more readily determinable. (l) Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding (if dilutive) during each period. Potential common shares include stock options, warrants, convertible notes and restricted stock. The number of potential common shares outstanding relating to stock options, warrants, and restricted stock is computed using the treasury stock or if-converted method. As the Company has incurred losses for the years ended September 30, 2019 and 2018, the potentially dilutive shares are anti-dilutive and thus not added into the EPS calculations. As of September 30, 2019 and 2018, there were 354,818,379 and 213,089,281 potentially dilutive shares, respectively. (m) Use of Estimates The preparation of financial statements in conformity with GAAP 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. (n) Impact of New Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, “Leases,” and in March 2019, the FASB issued ASU No. 2019-01, “Leases: Codification Improvements”, which updated the accounting guidance related to leases to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. They also clarify implementation issues. These updates are effective for public companies for annual periods beginning after December 15, 2018, including interim periods therein. Accordingly, the standard is effective for the Company for its annual period beginning October 1, 2019, and interim periods therein. The standard is to be applied utilizing a modified retrospective approach, with early adoption permitted. The Company is assessing the quantitative effect of adopting the new standard on the Company’s financial statements. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718) The Jumpstart Our Business Startups Act, or JOBS Act, provides that an emerging growth company can take advantage of the extended transition period for complying with new or revised accounting standards. An emerging growth company can therefore delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, the Company has elected not to take advantage of such extended transition period, and as a result, will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. The Company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the Company’s financial statements.

LIQUIDITY_GOING CONCERN

LIQUIDITY/GOING CONCERN	12 Months Ended
	Sep. 30, 2019
Liquiditygoing Concern
LIQUIDITY/GOING CONCERN	NOTE 2 – LIQUIDITY/GOING CONCERN The Company has incurred accumulated losses as of September 30, 2019 of $55.6 million, and has a net capital deficiency. Further losses are anticipated in developing our business, and there exists substantial doubt about the Company’s ability to continue as a going concern. As of September 30, 2019, the Company had $1.1 million of cash on hand, $0.6 million of this amount is for the payment of joint payables from drilling operations. The Company estimates that it will need to raise a minimum of $10 million to meet its obligations and planned expenditures through December 2020. The Company plans to finance operations and planned expenditures through equity and/or debt financings and/or farm-out agreements. The Company also plans to extend the agreements associated with all loans, the accrued interest payable on these loans, as well as the Company’s accrued liabilities. There are no assurances that financing will be available with acceptable terms, if at all. If the Company is not successful in obtaining financing, operations would need to be curtailed or ceased or the Company would need to sell assets or consider alternative plans up to and including restructuring. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES	12 Months Ended
	Sep. 30, 2019
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
OIL AND NATURAL GAS PROPERTIES	NOTE 3 – OIL AND NATURAL GAS PROPERTIES The Company currently has under lease seven federal Outer Continental Shelf blocks and has licensed 2.2 million acres of three-dimensional (3-D) seismic data in its area of concentration. In January 2018, the Company entered into a strategic partnership with Delek GOM Investments, LLC. (“Delek”), and Texas South Energy, Inc. (“Texas South”) (collectively, the “Parties”) and executed a participation agreement (the “Agreement”) for a multi-phase exploration program. Under the terms of the Agreement, the Parties have committed to drill the Company’s “Canoe” and “Tau” prospects (the “Initial Phase”) with Delek having the option to participate in two additional two-well drilling phases and a final, three-well drilling phase (collectively, the “Phases”). In each Phase, Delek will earn a 75% working interest upon paying 90% of the exploratory costs associated with drilling each exploratory well. The Company will retain a 20% working interest while paying 8% of the costs associated with drilling each exploratory well. The Company will be required to fund 20% of well costs in excess of 115% of budget. The Company will be the operator during exploratory drilling of the prospect, however, subsequent to a commercial discovery, Delek will have the right to become the operator. Delek will have the right to terminate this agreement at the conclusion of any drilling phase. At present, Delek’s commitment and rights extend only to the Initial Phase. Delek will also have the option to purchase up to 5% of the Company’s common stock, par value $0.001 per share (the “Common Stock”), upon fulfilling its obligation for each Phase (maximum of 20% in the aggregate) at a price per share equal to a 10% discount to the 30-day weighted average closing price for the Common Stock preceding the acquisition. This option will expire January 8, 2020. The Company, as the operator of two wells drilled in the Gulf of Mexico, has incurred tangible and intangible drilling costs for the wells in process and has billed its working interest partners for their respective shares of the drilling costs to date. GulfSlope drilled the first well, Canoe, to a total depth of 5,765 feet (5,670 feet TVD). Multiple open hole plugs were set across several intervals and the well is equipped with a mud-line suspension system for possible future re-entry. Calibration of seismic amplitudes, petrophysical analysis, reservoir engineering and scoping of development is currently underway to determine the commerciality of these sands and that work is expected to be completed during the first calendar quarter of 2020. The second well, Tau, was drilled to a measured depth of 15,254 feet, as compared to the originally permitted 29,857 foot measured depth. Producible hydrocarbon zones were not established to that depth, but hydrocarbon shows were encountered. Complex geomechanical conditions required two by-pass wellbores, one sidetrack wellbore, and eight casing strings to reach that depth. Equipment limitations prevented further drilling. In addition, the drilling rig had contractual obligations related to another operator. The Company elected to abandon this well in a manner that would allow for re-entry at a later time. The drilling, pressure, and reservoir information has confirmed geophysical and geological models, and reinforces the Company’s confidence that there is resource potential. The Company is currently evaluating various options related to future operations in this wellbore and testing of the deeper Tau prospect. In January 2019, the Tau well experienced an underground control of well event and as a result, the Company filed an insurance claim with its insurance underwriters. The total amount of the claim was approximately $10.8 million for 100% working interest after the insurance deductible amount, and at September 30, 2019 approximately $10.8 million had been received. GulfSlope received approximately $2.5 million of this amount and credited wells in process for approximately $0.9 million, and accrued payable for approximately $1.6 million, pending evaluation of distributions to the working interest owners. As of September 30, 2019, the Company’s oil and natural gas properties consisted of unproved properties, wells in process and no proved reserves. During the years ended September 30, 2019 and 2018, the company capitalized approximately $1.1 million and $Nil of interest expense to oil and natural gas properties, respectively, and approximately $1,229,742 and $1,242,807, of general and administrative expenses, respectively. The Company incurred approximately $6 million of impairment of oil and natural gas properties for the year ended September 30, 2019 primarily resulting from the expiration of oil and natural gas leases.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment consist of the following at September 30, 2019 and 2018: 2019 2018 Office equipment and computers $ 133,089 $ 133,089 Furniture and fixtures 16,280 16,280 Leasehold improvements 7,680 5,756 Total 157,049 155,125 Less: accumulated depreciation (144,035 ) (140,339 ) Net property and equipment $ 13,014 $ 14,786 Depreciation is computed on a straight-line basis over the estimated useful lives of the assets, which were as follows: Life Office equipment and computers 3 years Furniture and fixtures 5 years Leasehold improvements Shorter of 5 years or related lease term Depreciation expense was $5,619 and $4,724 for the years ended September 30, 2019 and 2018, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 5 – INCOME TAXES The provision for income taxes consists of the following for the years ended September 30, 2019 and 2018: 2019 2018 FEDERAL Current $ — $ — Deferred — — STATE Current — — Deferred — — TOTAL PROVISION $ — $ — The difference between the actual income tax provision versus tax computed at the statutory rate is as follows for the years ended September 30, 2019 and 2018, respectively: 2019 2018 Expected provision (based on statutory rate of 21%) $ (2,881,988) $ (553,714) Effect of: Increase in valuation allowance 2,879,685 2,696,631 Non-deductible expense 500,638 53,493 Rate change — (2,305,270) Other, net (498,335) 108,860 Total actual provision $ — $ — The Company does not have any material uncertain tax positions. The Company’s policy is to recognize interest and penalties accrued related to unrecognized tax benefits as a component of income tax expense (benefit). For the years ended September 30, 2019 and 2018, the Company did not recognize any interest or penalties, nor did we have any interest or penalties accrued as of September 30, 2019 and 2018 relating to unrecognized benefits. Deferred income tax assets and liabilities at September 30, 2019 and 2018, respectively, consist of the following: 2019 2018 DEFERRED TAX ASSETS (LIABILITIES) Net operating losses $ 10,295,547 $ 7,131,636 Exploration costs (1,110,135 ) (1,503,472 ) Oil and natural gas leases 2,336,776 2,192,654 IDC (1,036,737 ) — Partnership ordinary loss (178,359 ) — Stock based compensation 567,406 411,287 Accrued interest and expenses not paid 386,685 271,190 Derivative financial instrument 69,120 (57,059 ) Differences in book/tax depreciation 9,191 13,573 Net deferred tax asset $ 11,339,494 $ 8,459,809 Valuation allowance (11,339,494 ) (8,459,809 ) NET DEFERRED TAXES $ — $ — The Company’s valuation allowance increased $2,879,685 during the year ended September 30, 2019 and increased $2,696,633 during the year ended September 30, 2018. At September 30, 2019, the Company had approximately $49 million of NOLs, approximately 66% of which will expire from 2032 to 2038. Approximately $33.4 million of the Company’s NOLs are allowable as a deduction against 100 percent of future taxable income since they were generated prior to the effective date of limitations imposed by the TCJA. The tax years ended September 30, 2016 through 2019 are open for examination for federal income tax purposes and by other major taxing jurisdictions to which we are subject.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS During April 2013 through September 2017, the Company entered into promissory notes whereby it borrowed a total of $8,675,500 from John Seitz, the chief executive officer (“CEO”). The notes are due on demand, bear interest at the rate of 5% per annum, and $5,300,000 of the notes are convertible into shares of common stock at a conversion price equal to $0.12 per share of common stock (the then offering price of shares of common stock to unaffiliated investors). As of September 30, 2019 and 2018, the total amount owed to John Seitz is $8,675,500. This amount is included in loans from related parties within the balance sheet. There was a total of $2,080,885 and $1,641,086 of unpaid interest associated with these loans included in accrued interest payable within the balance sheets as of September 30, 2019 and 2018, respectively. From August 2015 through February 2016 the Company entered into promissory notes whereby it borrowed a total of $267,000 from Dr. Ronald Bain, its former president and chief operating officer, and his affiliate ConRon Consulting, Inc. These notes are not convertible, due on demand and bear interest at the rate of 5% per annum. As of September 30, 2018, the total amount owed to Dr. Bain and his affiliate was $267,000. In June of 2016, Dr. Ronald Bain also entered into a $92,000 convertible promissory note with associated warrants under the same terms received by other investors (see Note 7). On November 15, 2016, a family member of the CEO entered into a $50,000 convertible promissory note with associated warrants (“Bridge Financing”) under the same terms received by other investors (see Note 7). Domenica Seitz CPA, related to John Seitz, has provided accounting consulting services to the Company. During the years ended September 30, 2019 and 2018, the services provided were valued at $59,250 and $23,660, respectively. The Company has accrued these amounts, and they have been reflected in related party payable in the September 30, 2019 and 2018 financial statements. See Note 7 for a description of the Delek term loan.

TERM LOAN AND CONVERTIBLE DEBEN

TERM LOAN AND CONVERTIBLE DEBENTURES	12 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
TERM LOAN AND CONVERTIBLE DEBENTURES	NOTE 7 – TERM LOAN AND CONVERTIBLE DEBENTURES Between June and November 2016, the Company issued eleven convertible promissory notes (“Bridge Financing Notes”) with associated warrants in a private placement to accredited investors for total gross proceeds of $837,000. Three of the notes were to related parties for proceeds totaling $222,000, including the extinguishment of $70,000 worth of related party payables. The convertible notes had a maturity of one year (prior to extension), an annual interest rate of 8% and can be converted at the option of the holder at a conversion price of $0.025 per share. In addition, the convertible notes will automatically convert if a qualified equity financing of at least $3 million occurs before maturity and such mandatory conversion price will equal the effective price per share paid in the qualified equity financing. In addition to the convertible notes, the investors received approximately 27.9 million warrants, with an exercise price of $0.03 per share and a term of the earlier of three years or upon a change of control. Upon maturity of the eleven promissory notes during 2017, the Company issued approximately 7 million extension warrants with an exercise price of $0.03 per share (equal to 25% of the original warrant amount) to the holders of the notes to extend the terms to January 15, 2018. Upon revised maturity of the eleven promissory notes on January 15, 2018, the Company issued approximately 2.8 million extension warrants with an exercise price of $0.10 per share (equal to 10% of the original warrant amount) to the holders of the notes to extend the term to April 16, 2018. In June 2018, the maturity date of all of the notes was extended to January 15, 2019. Six of the Bridge Financing Notes with a principal balance of $560,000 plus accrued interest of approximately $87,000 were converted to common stock during the year ended September 30, 2018. The remaining note balance at September 30, 2019 is $277,000. Accrued interest for the year ended September 30, 2019, was approximately $5,500 and cumulative accrued interest was approximately $72,000. During June 2019, the Company completed the extension of the remaining notes to April 30, 2020. In consideration for the extension of the remaining notes, the Company extended the term of the warrants until April 30, 2020. As a result, approximately $152,000 was recorded as a debt discount and to additional paid-in capital for the modification. On March 1, 2019, the Company entered into a Term Loan Agreement by and among the Company, as borrower, and Delek, as lender. In the Term Loan Agreement, Delek agreed to provide the Company with multiple draw term loans in an aggregate stated principal amount of up to $11.0 million (the “Term Loan Facility” and the loans thereunder, the “Loans”). The maturity date of the Term Loan Facility is six months following the closing date of the Term Loan Agreement which is March 1, 2019. Until such maturity date, the Loans under the Term Loan Agreement shall bear interest at a rate per annum equal to 5.0%, payable in arrears on the maturity date. If an event of default occurs, all Loans under the Term Loan Agreement shall bear interest at a rate equal to 7.0%, payable on demand. In connection with the Term Loan Agreement, the Company entered into: (i) a Subordination Agreement (the “Subordination Agreement”) by and among the Company, as borrower, John N. Seitz, as subordinated lender (the “Subordinated Lender”), and Delek, as senior lender; (ii) a Security Agreement (the “Security Agreement”) among the Company, as debtor, and Delek, as lender; and (iii) warrants to purchase 238,095,238 shares of Common Stock, at an exercise price of $0.042 per share issued to Delek GOM (the “Warrants”). The Company may elect, at its option, to prepay borrowings outstanding under the Term Loan Agreement in multiples of $100,000 and not less than $500,000 without premium or penalty. The Company may be required to prepay the Loans with any net cash proceeds resulting from an asset sale, receipt of insurance proceeds from certain casualty events, proceeds from equity issuances or incurrence of indebtedness other than the Loans (subject to a $500,000 carve-out to be applied toward the Company’s general corporate purposes) or receipt of any cash proceeds from any payments, refunds, rebates or other similar payments and amounts under the Company’s operative documents. Amounts outstanding under the Term Loan Agreement are secured by a security interest in substantially all of the properties and assets of the Company. As of March 6, 2019, the Company had borrowed a total of $10.0 million under the Term Loan Facility and issued to Delek GOM warrants to purchase 238,095,238 shares of Common Stock; and Delek GOM fully exercised the warrants through a Loan Reduction Exercise, thereby extinguishing the Company’s outstanding obligations to Delek GOM as of that date. The Company allocated the proceeds between debt and warrants on a relative fair value basis, recording a debt discount of approximately $5.1 million. The exercise of the warrants through the extinguishment of the loan was accounted for as a standard warrant exercise and an extinguishment of debt including a recognition of a loss in the amount of the debt discount of approximately $5.1 million. On April 19, 2019, the Company borrowed $1.0 million under the Term Loan Facility and issued to Delek warrants to purchase 23,809,524 shares of stock with an exercise price of $0.042 per share. The Company allocated the proceeds between debt and warrants on a relative fair value basis, recording a debt discount of approximately $0.5 million. The term loan facility expired as of September 4, 2019, and as of September 30, 2019, the warrants have not been exercised and the term loan is outstanding. See Note 13 Subsequent Events. On June 21, 2019 the Company entered into a Securities Purchase Agreement (“SPA ”) under the terms of which the Company will issue and sell to buyers up to an aggregate of $3,000,000 of convertible debentures (“ ”) and associated warrants. On June 21, 2019, approximately $2,100,000 of Convertible Debentures were purchased upon the signing of the SPA (the “ ”), and $400,000 and $500,000, respectively, shall be purchased by the holder upon: (1) the filing of a Registration Statement with the U.S. Securities and Exchange Commission (the “ ”) registering the resale of the conversion shares by the buyers which occurred on August 5, 2019; and (2) the date a registration statement covering the underlying common shares has first been declared effective by the SEC which occurred on November 4, 2019. On August 7, 2019, the Company purchased approximately $400,000 of convertible debentures under the June 21, 2019 Securities Purchase Agreement. The Convertible Debentures accrue interest at 8.0% per annum, mature on June 21, 2020, and August 7, 2020, respectively and are convertible at the option of the holder any time after issuance into common stock at a conversion rate of the lesser of: (1) $0.05 per share; or (2) 80% of the lowest volume weighted adjusted price (as reported by Bloomberg, LP) for the ten consecutive trading days immediately preceding conversion. In addition, the holder received warrants to purchase an aggregate of 50 million shares of common stock at an exercise price of $0.04 per share. Such warrants expire on the fifth anniversary of issuance. The direct offering costs related to the two note issuances were approximately $333,000 and has been recorded as a debt discount. The Company evaluated the conversion feature and concluded that it should be bifurcated and accounted for as a derivative liability due to the variable conversion feature which does not contain an explicit limit on the number of shares that are required to be issued. In addition, the Company concluded the warrants required treatment as derivative liabilities as the Company could not assert in has sufficient authorized but unissued shares to settle the warrants upon exercise when taking into account other stock based commitments including the Convertible Debentures. Accordingly, the embedded conversion feature and warrants were recorded at fair value at issuance and are subsequently remeasured to fair value each reporting period. The fair value of the derivative liabilities at issuance exceeded the remaining net proceeds received resulting in an approximately $1.8 million day one charge to interest expense in the September 30, 2019 Statement of Operations. The fair value of the embedded conversion feature was determined utilizing a Geometric Brownian Motion Stock Path Based Monte Carlo Simulation that utilized the following key assumptions: June 21, 2019 Convertible Debenture August 7, 2019 Convertible Debenture June 21, 2019 June 30, 2019 September 30, 2019 August 7, 2019 September 30, 2019 Stock Price $ 0.041 $ 0.041 $ 0.034 $ 0.037 $ 0.034 Fixed Exercise Price $ 0.050 $ 0.050 $ 0.05 $ 0.05 $ 0.05 Volatility 148 % 150 % 135 % 144 % 135 % Term (Years) 1.00 0.98 0.73 1.00 0.73 Risk Free Rate 1.95 % 1.92 % 1.75 % 1.75 % 1.75 % In addition to the fixed exercise price noted above, the model incorporates the variable conversion price which is simulated as 80% of the lowest trading price within the ten consecutive days preceding presumed conversion. The Company’s Term Loan and Convertible Debentures consisted of the following as of September 30, 2019. Promissory Notes Payable at September 30, 2019 Notes Discount Notes, Net of Discount Term Loan $ 1,000,000 $ — $ 1,000,000 Convertible Debentures and Bridge Financing Notes $ 2,727,000 $ (2,529,034 ) $ 197,966 Total $ 3,727,000 $ (2,529,034 ) $ 1,197,966 At September 30, 2018, Promissory Notes Payable totaled $135,000 and was comprised of three Bridge Financing Notes. See Note 9 for a summary of the warrants outstanding relating to the Bridge Financing Notes and Note 13 Subsequent Events related to the term loan payoff.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	12 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	NOTE 8 – Fair Value Measurement Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. GulfSlope considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes those derivative instruments that GulfSlope values using observable market data. Substantially all of these inputs are observable in the marketplace throughout the term of the derivative instrument, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category include non-exchange traded derivative financial instruments as well as long-term incentive plan liabilities calculated using the Black-Scholes model to estimate the fair value as of the measurement date. Level 3: Measured based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable from objective sources (i.e. supported by little or no market activity). Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. Fair Value on a Recurring Basis The following table sets forth by level within the fair value hierarchy GulfSlope Energy, Inc.’s liabilities that were accounted for at fair value on a recurring basis as of September 30, 2019 and 2018: Fair Value Measurements Using Quoted Prices in Significant Other Significant Total Carrying Description (Level 1) (Level 2) (Level 3) Value as of (In thousands) Derivative Financial Instrument $ — $ (271,710 ) $ — $ (271,710 ) Total as of September 30, 2018 — (271,710 ) — (271,710 ) Issuance of Derivative Financial Instruments — (3,863,599 ) — (3,863,599 ) Change in fair value for year ended September 30, 2019 — 600,853 — 600,853 Total as of Total as of September 30, 2019 $ — $ (3,534,456 ) $ — $ (3,534,456 ) During the years ended September 30, 2019 and 2018, the Company did not have any assets or liabilities measured at fair value on a non-recurring basis.

COMMON STOCK_PAID IN CAPITAL

COMMON STOCK/PAID IN CAPITAL	12 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
COMMON STOCK/PAID IN CAPITAL	NOTE 9 - COMMON STOCK/PAID IN CAPITAL As discussed in Note 7, between June and November 2016, the Company issued 27.9 million warrants in conjunction with Convertible Debentures. The warrants have an exercise price of $0.03 and a term of the earlier of three years or upon a change of control. During June through August 2017, the maturity date of all of the Bridge Financing Notes was extended to January 15, 2018, in exchange for the issuance of 25% additional warrants, or approximately 7 million extension warrants. The warrants have an exercise price of $0.03 and the same expiration date (three years from original transaction) as the original warrants. On January 15, 2018, the maturity date of the Bridge Financing Notes was extended to April 16, 2018, in exchange for the issuance of 10% additional warrants, or approximately 2.8 million extension warrants (see Note 7). The warrants have an exercise price of $0.10 per share and the same expiration date (three years from original transaction) as the original warrants. Through September 30, 2019, approximately 3.3 million warrants have been exercised, approximately 22.0 million have expired and approximately 12.5 million remain outstanding. During June 2019, the Company completed the extension of the remaining notes to April 30, 2020. In consideration for the extension of the remaining notes, the Company extended the term of the warrants until April 30, 2020. The fair value of the warrants were determined using the Black Scholes valuation model with the following key assumptions: June 2016 November 2016 June 2017 January 2018 Remaining Warrants 7.6 million 1.7 million 2.3 million 0.9 Million Stock Price: $ 0.054 (1) $ 0.029 (1) $ 0.025 (1) $ 0.11 (1) Exercise Price $ 0.03 $ 0.03 $ 0.03 $ 0.10 Term 3 years 3 years 2 years 1.5 years Risk Free Rate .87 % 1.28 % 1.35 % 1.89% Volatility 135 % 131 % 135 % 163% (1) Fair market value on the date of agreement. A summary of warrants, issued in conjunction with the Bridge Financing Notes and outstanding at September 30, 2019: Warrants Outstanding Warrants Exercisable Date Issued Exercise Price Number Weighted Weighted Number Weighted June 2016 $ 0.03 7,566,667 .58 $ 0.03 7,566,667 $ 0.03 November 2016 $ 0.03 1,666,667 .58 $ 0.03 1,666,667 $ 0.03 June 2017 $ 0.03 1,891,667 .58 $ 0.03 1,891,667 $ 0.03 November 2017 $ 0.03 416,667 .58 $ 0.03 416,667 $ 0.03 January 2018 $ 0.10 923,333 .58 $ 0.10 923,333 $ 0.10 In December 2016 and March 2017, the Company issued 550,000 and 1,100,000 warrants to purchase stock at $0.10 per share to an investor as part of a financing transaction. The warrants have a term of five years. In October and December 2017, the Company issued 1,100,000 and 1,100,000 warrants to purchase stock at $0.10 per share to an investor as part of a financing transaction. The warrants have a term of five years. A summary of the warrants, issued in conjunction with Bridge Financing Notes, Private Placements and Services Rendered and outstanding at September 30, 2019: Warrants Outstanding Warrants Exercisable Exercise Price Number Remaining Weighted Number Weighted $ 0.10 550,000 2.25 $ 0.10 550,000 $ 0.10 $ 0.10 1,100,000 2.46 $ 0.10 1,100,000 $ 0.10 $ 0.10 1,100,000 3.04 $ 0.10 1,100,000 $ 0.10 $ 0.10 1,100,000 3.21 $ 0.10 1,100,000 $ 0.10 $ 0.09 9,662,500 1.90 $ 0.09 9,662,500 $ 0.09 $ 0.15 2,027,780 1.99 $ 0.15 2,027,780 $ 0.15 $ 0.042 23,809,523 0.55 $ 0.042 23,809,523 $ 0.042 $ 0.04 50,000,000 4.73 $ 0.04 50,000,000 $ 0.04 During December 2018, the Company issued approximately 19.3 million shares of common stock and approximately 9.7 million warrants to accredited investors in a private placement. The funds were received in the prior fiscal year and included as a liability because the transaction did not close until the current fiscal year and it was moved to equity during the quarter ended December 31, 2018. Based upon the allocation of proceeds between the common stock and the warrants, approximately $259,000 was allocated to the warrants. The fair value of the warrants was determined using the Black Scholes valuation model with the following key assumptions: Number of Warrants Issued 9,662,500 Stock Price $ 0.044 Exercise Price $ 0.09 Term 3 years Risk Free Rate 2.46 % Volatility 149 % In September 2018, the Company issued approximately 4 million shares of common stock valued at approximately $231,000 on the date of grant and approximately 2 million warrants valued at $80,000 utilizing the Black Scholes model with an exercise price of $0.15 per share in settlement of a liability for services rendered.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 10 – STOCK-BASED COMPENSATION On January 1, 2017, 33.5 million stock options were granted to employees, officers and directors of the Company. The stock options vested 50% on January 1, 2017 and 50% on January 1, 2018. The stock options are exercisable for seven years from the original grant date of January 1, 2017, until January 1, 2024. On May 1, 2018, 500,000 stock options, with an exercise price of $0.065 per share were granted to an employee. The stock options vested on the issue date. The stock options are exercisable for approximately 7.5 years from the date of grant of May 1, 2018 to December 31, 2025. On June 1, 2018, 67.5 million stock options, with an exercise price of $0.075 per share were granted to employees, directors and contractors. 18.5 million of the stock options vested on June 1, 2018, 24 million vested on June 1, 2019 and 25 million will vest on June 1, 2020 provided the holder continues to serve as an employee or a director on the vesting date. The stock options are exercisable for approximately 7.5 years from the grant date of June 1, 2018, to December 31, 2025. Forty-nine million of these stock options were awarded from the Company’s 2018 Omnibus Incentive Plan and 18.5 million stock options were inducement awards. On January 2, 2019 the Company issued 1 million stock options to a former employee and contractor. Fifty percent of the stock options vested on the issue date and the remainder vested in July 2019. The stock options were valued at approximately $35,000 to be recognized over the service period of seven months. The stock options are exercisable until December 31, 2025. Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized over the vesting period. The Company recognized $1,629,333 and $1,857,531 in stock-based compensation expense for the years ended September 30, 2019 and 2018, respectively. A portion of these costs allocable to the Company’s exploration activities, $884,839 and $820,877 were capitalized to unproved properties and the remainder was recorded as general and administrative expenses, for the years ended September 30, 2019 and 2018, respectively. The Company uses the Black-Scholes option-pricing model to estimate the fair value of options granted. The weighted-average fair values of stock options granted for the years ended September 30, 2019 and 2018 were based on the following assumptions at the date of grant as follows: Date of Grant May 1, 2018 June 1, 2018 January 2, 2019 Number of Stock Options Granted 500,000 67,500,000 1,000,000 Stock Price $ 0.065 $ 0.075 $ 0.045 Exercise Price $ 0.065 $ 0.075 $ 0.045 Expected Life of Options 4.25 years 4.25 years 3.75 years Risk Free Rate 2.74 % 2.675 % 2.51 % Volatility 145.21 % 145.21 % 126.37 % The following table summarizes the Company’s stock option activity during the year ended September 30, 2019: Number Weighted Weighted Average Outstanding at September 30, 2018 103,500,000 $ 0.0605 Granted 1,000,000 0.0450 Exercised — — Cancelled — — Outstanding at September 30, 2019 104,500,000 $ 0.0604 5.13 Vested and expected to vest 104,500,000 $ 0.0604 5.13 Exercisable at September 30, 2019 79,500,000 $ 0.0552 5.13 The Company used its historical stock trading price volatility for the last four years. The Company has no historical data regarding the expected life of the options and therefore used the simplified method of calculating the expected life. The risk free rate was calculated using the U.S. Treasury constant maturity rates similar to the expected life of the options, as published by the Federal Reserve. The Company has no plans to declare any future dividends. As of September 30, 2019, there was $1.1 million of unrecognized stock-based compensation cost related to the stock option grants expected to be amortized over a weighted average period of nine months.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 11 – COMMITMENTS AND CONTINGENCIES From time to time, the Company may become involved in litigation relating to claims arising out of its operations in the normal course of business. No legal proceedings, government actions, administrative actions, investigations or claims are currently pending against us or involve the Company. In July 2018, the Company entered into a 39 month lease for approximately 5,000 square feet of office space in 4 Houston Center in downtown Houston. Annual base rent is approximately $94 thousand for the first 18 months, increasing to approximately $97 thousand and $99 thousand, respectively during the remaining term of the lease. The Company reached an agreement with a vendor in August 2018 for the settlement of approximately $1 million in debt. The vendor was paid $150,000 in cash, future cash payments of $7,500 and 10 million shares of GulfSlope common stock. The agreement contains a provision that upon the sale of the common stock if the original debt is not fully satisfied, full payment will be made, under a mutually agreed payment plan. If the stock is sold for a gain any surplus in excess of $1.3 million shall be a credit against future purchases from the vendor. The agreement was determined to meet the definition of a derivative in accordance with ASC 815. At September 30, 2019 there is a fair value liability of approximately $554,000.

CORRECTION OF IMMATERIAL ERROR

CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS	12 Months Ended
	Sep. 30, 2019
Correction Of Immaterial Error In Previously Issued Financial Statements
CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS	NOTE 12 – CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS Prior to the filing of the Company’s September 30, 2019 Form 10-K, the management of the Company determined that capitalized interest should be computed for the Company’s oil and gas properties that were being actively developed. As a result, the Company is revising certain of its condensed financial statements as of and for the quarters ended December 31, 2018, March 31, 2019, and June 30, 2019 to correct this error. After considering Staff Accounting Bulletin No. 99, Assessing Materiality As a result of the correction, the originally reported net loss for the three months ended December 31, 2018, March 31, 2019, and June 30, 2019 was decreased by approximately $78,000, $106,000, and $371,000, respectively, and the originally reported net loss for the six months ended March 31, 2019, and nine months ended June 30, 2019 was decreased by approximately $183,000 and $554,000, respectively. Originally reported basic and diluted loss per share for these periods was not changed. The following tables reflect the amounts within the balance sheet, statement of operations and statement of cash flows as originally reported to amounts as now reflected as of and for the quarters ended December 31, 2018, March 31, 2019, and June 30, 2019. December 31, 2018 As Originally Adjustment Corrected Balance Sheet Oil and Natural Gas Properties $ 11,203,790 $ 77,542 $ 11,281,332 Total Assets $ 28,172,736 $ 77,542 $ 28,250,278 Accumulated Deficit $ (42,282,117 ) $ 77,542 $ (42,204,575 ) Total Liabilities and Stockholders’ Deficit $ 28,172,736 $ 77,542 $ 28,250,278 March 31, 2019 As Originally Adjustment Corrected Balance Sheet Oil and Natural Gas Properties $ 16,892,281 $ 183,299 $ 17,075,580 Total Assets $ 32,438,825 $ 183,299 $ 32,622,124 Accumulated Deficit $ (47,695,556 ) $ 183,299 $ (47,512,257 ) Total Liabilities and Stockholders’ Deficit $ 32,438,825 $ 183,299 $ 32,622,124 June 30, 2019 As Originally Adjustment Corrected Balance Sheet Oil and Natural Gas Properties $ 17,318,916 $ 554,086 $ 17,873,002 Total Assets $ 37,551,079 $ 554,086 $ 38,105,165 Accumulated Deficit $ (54,574,356 ) $ 554,086 $ (54,020,270 ) Total Liabilities and Stockholders’ Deficit $ 37,551,079 $ 554,086 $ 38,105,165 Three Months Ended December 31, 2018 As Originally reported Adjustment Corrected Statement of Operations Interest Expense, net $ (98,157 ) $ 77,542 $ (20,615 ) Net Loss $ (423,861 ) $ 77,542 $ (346,319 ) Statement of Cash Flows Net Loss $ (423,861 ) $ 77,542 $ (346,319 ) Capitalized Interest Expense $ — $ (77,542 ) $ (77,542 ) Three Months Ended March 31, 2019 Six Months Ended March 31, 2019 As Originally reported Adjustment Corrected As Originally reported Adjustment Corrected Statements of Operations Interest Expense, net $ (106,152 ) $ 105,757 $ (395 ) $ (204,309 ) $ 183,299 $ (21,010 ) Net Loss $ (5,413,439 ) $ 105,757 $ (5,307,682 ) $ (5,837,299 ) $ 183,299 $ (5,654,000 ) Statement of Cash Flows Net Loss $ (5,837,299 ) $ 183,299 $ (5,654,000 ) Capitalized Interest Expense $ — $ (183,299 ) $ (183,299 ) Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 As Originally reported Adjustment Corrected As Originally reported Adjustment Corrected Statements of Operations Interest Expense, net $ (2,080,620 ) $ 370,787 $ (1,709,833 ) $ (2,284,928 ) $ 554,086 $ (1,730,842 ) Net Loss $ (6,878,800 ) $ 370,787 $ (6,508,013 ) $ (12,716,099 ) $ 554,086 $ (12,162,013 ) Statement of Cash Flows Net Loss $ (12,716,099 ) $ 554,086 $ (12,162,013 ) Capitalized Interest Expense $ — $ (554,086 ) $ (554,086 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 13 – SUBSEQUENT EVENTS In November 2019, the Company purchased an insurance policy for approximately $241,000 and financed approximately $221,000 of the premium by executing a note payable. In October 2019, the Company signed a Post-Drilling Agreement with Delek GOM Investments, LLC. The Agreement provides, among other things, that the Company (i) issue to Delek 38,423,221 shares of common stock of the Company (the “Insurance Proceeds Shares”) as compensation with respect to certain insurance proceeds received in connection with drilling of the Tau well prospect, (ii) that as payoff for the Company’s outstanding obligations of $1,220,548 (“Term Loan Payoff”) to Delek under the Term Loan Agreement entered into between the Company and Delek on March 1, 2019, the Company issue a convertible debenture (the “Convertible Debenture”) to Delek in a principal amount equal to the Term Loan Payoff, as a consequence of which the Term Loan Agreement has been terminated, (iii) that the Security Agreement entered into between the Company and Delek on March 1, 2019, be amended to release all liens and security interests Delek may hold in properties of the Company other than those attributable to the Tau well, and (iv) that the Registration Rights Agreement entered into between the Company and Delek on March 25, 2019, be amended to extend Delek’s rights thereunder to the shares underlying the Convertible Debenture, discussed below. The Convertible Debenture is convertible at the option of Delek at any time in whole or in part for up to 24,410,960 shares of Common Stock at a conversion price of $0.05 per share. Interest on the Convertible Debenture is accruable at 12% per annum and the maturity of the Convertible Debenture is October 22, 2020 (which interest rate will increase to 15% per annum upon any Event of Default as defined in the Convertible Debenture). The Company has a right to prepay the Convertible Debenture prior to maturity for an amount equal to the outstanding principal balance plus accrued and unpaid interest. Absent any restrictions under the federal securities laws, Delek’s ability to sell shares of common stock of the Company issued upon conversion of the Convertible Debenture will be limited, in any one-month period, to 10% (ten percent) of the total volume of such converted shares. Underwriters (the "Underwriters") associated with the Company's Energy Package insurance policy (the "Policy") have acknowledged confirmation of coverage, subject to the Policy terms and conditions, related to a subsurface well occurrence that happened during the drilling of the Company's Tau well earlier this year. This occurrence transpired on May 5, 2019 during drilling operations at a measured depth of 15,254 feet. The Company subsequently controlled the occurrence and ceased drilling operations. Plugs were placed in the well to meet regulatory requirements prior to rig release. Pursuant to the Policy terms and conditions, the Underwriters will reimburse GulfSlope for qualified actual costs and expenses incurred to (i) regain control of the well, and (ii) restore or re-drill the well to 15,254 feet. GulfSlope is working with the Underwriters to finalize details associated with the claim. In November 2019, a n agreement was reached with Texas South whereby Texas South re-conveyed to GulfSlope all of Texas South’s interest in Tau and Canoe in exchange for the release of claims and foregoing collections for Texas South’s failure to pay JIBs for the Tau and Canoe wells. Convertible debentures in the amount of $300,000 plus accrued interest of $86,636 have been converted into 17,919,455 shares of common stock at a weighted average price of $0.0214.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Organization	(a) Organization GulfSlope Energy, Inc. (the “Company” or “GulfSlope”) is an independent oil and natural gas exploration company whose interests are concentrated in the United States Gulf of Mexico federal waters offshore Louisiana. The Company has leased 14 federal Outer Continental Shelf blocks (referred to as “prospect,” “portfolio” or “leases”) and licensed three-dimensional (3-D) seismic data in its area of concentration.
Basis of Presentation	(b) Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the instructions to Form 10-K and Regulation S-X published by the US Securities and Exchange Commission (the “SEC”). The accompanying financial statements include the accounts of the Company.
Liquidity/Going Concern	(c) Going Concern The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred net losses through September 30, 2019 of $55.6 million, has a lack of cash on-hand, and a working capital deficit. These factors raise substantial doubt as to the Company’s ability to continue as a going concern. Management intends to raise additional operating funds through equity and/or debt offerings. Management also plans to extend the agreements associated with loans from related parties, the accrued interest payable on these loans, as well as the Company’s accrued liabilities. However, there can be no assurance that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available, the Company may be required to curtail or cease operations or the Company would need to sell assets or consider alternative plans up to and including restructuring.
Cash	(d) Cash The Company considers all short-term highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents. There were no cash equivalents at September 30, 2019 and 2018, respectively.
Accounts Receivable	(e) Accounts Receivable The Company records an accounts receivable for operations expense reimbursements due from joint interest partners. The Company estimates allowances for doubtful accounts based on the aged receivable balances and historical losses. If the Company determines any account to be uncollectible based on significant delinquency or other factors, we assess the receivable and the underlying asset for recovery. As of September 30, 2019 and 2018, no allowance was recorded. Accounts receivable from oil and gas joint operations are $12.1 million at September 30, 2019, which includes $3.7 million classified as other non-current assets. See note 13 Subsequent Events.
Full Cost Method	(f) Full Cost Method The Company uses the full cost method of accounting for its oil and gas exploration and development activities. Under the full cost method of accounting, all costs associated with successful and unsuccessful exploration and development activities are capitalized on a country-by-country basis into a single cost center (“full cost pool”). Such costs include property acquisition costs, geological and geophysical (“G&G”) costs, carrying charges on non-producing properties, costs of drilling both productive and non-productive wells. Overhead costs, which includes employee compensation and benefits including stock-based compensation, incurred that are directly related to acquisition, exploration and development activities are capitalized. Interest expense is capitalized related to unevaluated properties and wells in process during the period in which the Company is incurring costs and expending resources to get the properties ready for their intended purpose. For significant investments in unproved properties and major development projects that are not being currently depreciated, depleted, or amortized and on which exploration or development activities are in progress, interest costs are capitalized. Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs. A significant alteration would typically involve a sale of 25% or more of the proved reserves related to a single full cost pool. Proved properties are amortized on a country-by-country basis using the units of production method (“UOP”), whereby capitalized costs are amortized over total proved reserves. The amortization base in the UOP calculation includes the sum of proved property, net of accumulated depreciation, depletion and amortization (“DD&A”), estimated future development costs (future costs to access and develop proved reserves), and asset retirement costs, less related salvage value. The costs of unproved properties and related capitalized costs (such as G&G costs) are withheld from the amortization calculation until such time as they are either developed or abandoned. Unproved properties and properties under development are reviewed for impairment at least quarterly and are determined through an evaluation considering, among other factors, seismic data, requirements to relinquish acreage, drilling results, remaining time in the commitment period, remaining capital plan, and political, economic, and market conditions. In countries where proved reserves exist, exploratory drilling costs associated with dry holes are transferred to proved properties immediately upon determination that a well is dry and amortized accordingly. In countries where a reserve base has not yet been established, impairments are charged to earnings. Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve month period. The cost center ceiling is defined as the sum of (a) estimated future net revenues, discounted at 10% per annum, from proved reserves, (b) the cost of properties not being amortized, if any, and (c) the lower of cost or market value of unproved properties included in the cost being amortized. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depreciation, depletion and amortization rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling. The Company capitalizes exploratory well costs into oil and gas properties until a determination is made that the well has either found proved reserves or is impaired. If proved reserves are found, the capitalized exploratory well costs are reclassified to proved properties. The well costs are charged to expense if the exploratory well is determined to be impaired. The Company has drilled two well bores and is currently evaluating such wells for proved reserves. Accordingly such costs are included as suspended well costs at September 30, 2019 and it is expected that a final analysis will be completed in the next twelve months at which time the costs will be transferred to the full cost pool . As of September 30, 2019, the Company’s oil and gas properties consisted of unproved properties, wells in process and no proved reserves.
Asset Retirement Obligations	(g) Asset Retirement Obligations The Company’s asset retirement obligations will represent the present value of the estimated future costs associated with plugging and abandoning oil and natural gas wells, removing production equipment and facilities and restoring the seabed in accordance with the terms of oil and gas leases and applicable state and federal laws. Determining asset retirement obligations requires estimates of the costs of plugging and abandoning oil and natural gas wells, removing production equipment and facilities and restoring the sea bed as well as estimates of the economic lives of the oil and gas wells and future inflation rates. The resulting estimate of future cash outflows will be discounted using a credit-adjusted risk-free interest rate that corresponds with the timing of the cash outflows. Cost estimates will consider historical experience, third party estimates, the requirements of oil and natural gas leases and applicable local, state and federal laws, but do not consider estimated salvage values. Asset retirement obligations will be recognized when the wells drilled reach total depth or when the production equipment and facilities are installed or acquired with an associated increase in proved oil and gas property costs. Asset retirement obligations will be accreted each period through depreciation, depletion and amortization to their expected settlement values with any difference between the actual cost of settling the asset retirement obligations and recorded amount being recognized as an adjustment to proved oil and gas property costs. Cash paid to settle asset retirement obligations will be included in net cash provided by operating activities from continuing operations in the statements of cash flows. On a quarterly basis, when indicators suggest there have been material changes in the estimates underlying the obligation, the Company reassesses its asset retirement obligations to determine whether any revisions to the obligations are necessary. At least annually, the Company will assess all of its asset retirement obligations to determine whether any revisions to the obligations are necessary. Future revisions could occur due to changes in estimated costs or well economic lives, or if federal or state regulators enact new requirements regarding plugging and abandoning oil and natural gas wells. The Company has drilled two well bores and is currently evaluating these wells. The two wellbores drilled in 2018 and 2019, were both plugged and therefore the costs related to the asset retirement obligation were incurred. Such costs were recognized as capitalized oil and gas costs. The asset retirement obligation was completely extinguished in that if the well proves not to be commercially viable, there is no further cost needed to remediate the site.
Property and Equipment	(h) Property and Equipment Property and equipment are carried at cost and include expenditures for new equipment and those expenditures that substantially increase the productive lives of existing equipment and leasehold improvements. Maintenance and repair costs are expensed as incurred. Property and equipment are depreciated on a straight-line basis over the assets’ estimated useful lives. Fully depreciated property and equipment still in use are not eliminated from the accounts. The Company assesses the carrying value of its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparing estimated undiscounted cash flows, expected to be generated from such assets, to their net book value. If net book value exceeds estimated cash flows, the asset is written down to its fair value, determined by the estimated discounted cash flows from such asset. When an asset is retired or sold, its cost and related accumulated depreciation and amortization are removed from the accounts. The difference between the net book value of the asset and proceeds on disposition is recorded as a gain or loss in our statements of operations in the period in which they occur
Income Taxes	(i) Income Taxes Deferred tax assets and liabilities are recognized 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. The Company’s policy is to recognize potential interest and penalties as a component of income tax expense when incurred.
Stock-Based Compensation	(j) Stock-Based Compensation The Company records expenses associated with the fair value of stock-based compensation. For fully vested and restricted stock grants, the Company calculates the stock based compensation expense based upon estimated fair value on the date of grant. For stock warrants and options, the Company uses the Black-Scholes option valuation model to calculate stock based compensation at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate.
Stock Issuance	(k) Stock Issuance The Company records stock-based compensation awards issued to non-employees and other external entities for goods and services at either the fair market value of the goods received or services rendered or the instruments issued in exchange for such services, whichever is more readily determinable.
Earnings per Share	(l) Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding (if dilutive) during each period. Potential common shares include stock options, warrants, convertible notes and restricted stock. The number of potential common shares outstanding relating to stock options, warrants, and restricted stock is computed using the treasury stock or if-converted method. As the Company has incurred losses for the years ended September 30, 2019 and 2018, the potentially dilutive shares are anti-dilutive and thus not added into the EPS calculations. As of September 30, 2019 and 2018, there were 354,818,379 and 213,089,281 potentially dilutive shares, respectively.
Use of Estimates	(m) Use of Estimates The preparation of financial statements in conformity with GAAP 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	(n) Impact of New Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, “Leases,” and in March 2019, the FASB issued ASU No. 2019-01, “Leases: Codification Improvements”, which updated the accounting guidance related to leases to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. They also clarify implementation issues. These updates are effective for public companies for annual periods beginning after December 15, 2018, including interim periods therein. Accordingly, the standard is effective for the Company for its annual period beginning October 1, 2019, and interim periods therein. The standard is to be applied utilizing a modified retrospective approach, with early adoption permitted. The Company is assessing the quantitative effect of adopting the new standard on the Company’s financial statements. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718) The Jumpstart Our Business Startups Act, or JOBS Act, provides that an emerging growth company can take advantage of the extended transition period for complying with new or revised accounting standards. An emerging growth company can therefore delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, the Company has elected not to take advantage of such extended transition period, and as a result, will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. The Company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the Company’s financial statements.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consist of the following at September 30, 2019 and 2018: 2019 2018 Office equipment and computers $ 133,089 $ 133,089 Furniture and fixtures 16,280 16,280 Leasehold improvements 7,680 5,756 Total 157,049 155,125 Less: accumulated depreciation (144,035 ) (140,339 ) Net property and equipment $ 13,014 $ 14,786
Schedule of estimated useful lives of assets	Depreciation is computed on a straight-line basis over the estimated useful lives of the assets, which were as follows: Life Office equipment and computers 3 years Furniture and fixtures 5 years Leasehold improvements Shorter of 5 years or related lease term

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of actual income tax provision for continuing operations	The provision for income taxes consists of the following for the years ended September 30, 2019 and 2018: 2019 2018 FEDERAL Current $ — $ — Deferred — — STATE Current — — Deferred — — TOTAL PROVISION $ — $ —
Schedule of provision for income taxes	The difference between the actual income tax provision versus tax computed at the statutory rate is as follows for the years ended September 30, 2019 and 2018, respectively: 2019 2018 Expected provision (based on statutory rate of 21%) $ (2,881,988) $ (553,714) Effect of: Increase in valuation allowance 2,879,685 2,696,631 Non-deductible expense 500,638 53,493 Rate change — (2,305,270) Other, net (498,335) 108,860 Total actual provision $ — $ —
Schedule of deferred income tax assets and liabilities	Deferred income tax assets and liabilities at September 30, 2019 and 2018, respectively, consist of the following: 2019 2018 DEFERRED TAX ASSETS (LIABILITIES) Net operating losses $ 10,295,547 $ 7,131,636 Exploration costs (1,110,135 ) (1,503,472 ) Oil and natural gas leases 2,336,776 2,192,654 IDC (1,036,737 ) — Partnership ordinary loss (178,359 ) — Stock based compensation 567,406 411,287 Accrued interest and expenses not paid 386,685 271,190 Derivative financial instrument 69,120 (57,059 ) Differences in book/tax depreciation 9,191 13,573 Net deferred tax asset $ 11,339,494 $ 8,459,809 Valuation allowance (11,339,494 ) (8,459,809 ) NET DEFERRED TAXES $ — $ —

TERM LOAN AND CONVERTIBLE DEB_2

TERM LOAN AND CONVERTIBLE DEBENTURES (Tables)	12 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of fair value of the warrants	The fair value of the embedded conversion feature was determined utilizing a Geometric Brownian Motion Stock Path Based Monte Carlo Simulation that utilized the following key assumptions: June 21, 2019 Convertible Debenture August 7, 2019 Convertible Debenture June 21, 2019 June 30, 2019 September 30, 2019 August 7, 2019 September 30, 2019 Stock Price $ 0.041 $ 0.041 $ 0.034 $ 0.037 $ 0.034 Fixed Exercise Price $ 0.050 $ 0.050 $ 0.05 $ 0.05 $ 0.05 Volatility 148 % 150 % 135 % 144 % 135 % Term (Years) 1.00 0.98 0.73 1.00 0.73 Risk Free Rate 1.95 % 1.92 % 1.75 % 1.75 % 1.75 %
Schedule of notes payable	The Company’s Term Loan and Convertible Debentures consisted of the following as of September 30, 2019. Promissory Notes Payable at September 30, 2019 Notes Discount Notes, Net of Discount Term Loan $ 1,000,000 $ — $ 1,000,000 Convertible Debentures and Bridge Financing Notes $ 2,727,000 $ (2,529,034 ) $ 197,966 Total $ 3,727,000 $ (2,529,034 ) $ 1,197,966

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of fair value on recurring basis	The following table sets forth by level within the fair value hierarchy GulfSlope Energy, Inc.’s liabilities that were accounted for at fair value on a recurring basis as of September 30, 2019 and 2018: Fair Value Measurements Using Quoted Prices in Significant Other Significant Total Carrying Description (Level 1) (Level 2) (Level 3) Value as of (In thousands) Derivative Financial Instrument $ — $ (271,710 ) $ — $ (271,710 ) Total as of September 30, 2018 — (271,710 ) — (271,710 ) Issuance of Derivative Financial Instruments — (3,863,599 ) — (3,863,599 ) Change in fair value for year ended September 30, 2019 — 600,853 — 600,853 Total as of Total as of September 30, 2019 $ — $ (3,534,456 ) $ — $ (3,534,456 )

COMMON STOCK_PAID IN CAPITAL (T

COMMON STOCK/PAID IN CAPITAL (Tables)	12 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of fair value of the warrants using the Black Scholes valuation model	The fair value of the warrants were determined using the Black Scholes valuation model with the following key assumptions: June 2016 November 2016 June 2017 January 2018 Remaining Warrants 7.6 million 1.7 million 2.3 million 0.9 Million Stock Price: $ 0.054 (1) $ 0.029 (1) $ 0.025 (1) $ 0.11 (1) Exercise Price $ 0.03 $ 0.03 $ 0.03 $ 0.10 Term 3 years 3 years 2 years 1.5 years Risk Free Rate .87 % 1.28 % 1.35 % 1.89% Volatility 135 % 131 % 135 % 163% (1) Fair market value on the date of agreement. The fair value of the warrants was determined using the Black Scholes valuation model with the following key assumptions: Number of Warrants Issued 9,662,500 Stock Price $ 0.044 Exercise Price $ 0.09 Term 3 years Risk Free Rate 2.46 % Volatility 149 %
Schedule of warrants issued in conjunction with convertible notes	A summary of warrants, issued in conjunction with the Bridge Financing Notes and outstanding at September 30, 2019: Warrants Outstanding Warrants Exercisable Date Issued Exercise Price Number Weighted Weighted Number Weighted June 2016 $ 0.03 7,566,667 .58 $ 0.03 7,566,667 $ 0.03 November 2016 $ 0.03 1,666,667 .58 $ 0.03 1,666,667 $ 0.03 June 2017 $ 0.03 1,891,667 .58 $ 0.03 1,891,667 $ 0.03 November 2017 $ 0.03 416,667 .58 $ 0.03 416,667 $ 0.03 January 2018 $ 0.10 923,333 .58 $ 0.10 923,333 $ 0.10 A summary of the warrants, issued in conjunction with Bridge Financing Notes, Private Placements and Services Rendered and outstanding at September 30, 2019: Warrants Outstanding Warrants Exercisable Exercise Price Number Remaining Weighted Number Weighted $ 0.10 550,000 2.25 $ 0.10 550,000 $ 0.10 $ 0.10 1,100,000 2.46 $ 0.10 1,100,000 $ 0.10 $ 0.10 1,100,000 3.04 $ 0.10 1,100,000 $ 0.10 $ 0.10 1,100,000 3.21 $ 0.10 1,100,000 $ 0.10 $ 0.09 9,662,500 1.90 $ 0.09 9,662,500 $ 0.09 $ 0.15 2,027,780 1.99 $ 0.15 2,027,780 $ 0.15 $ 0.042 23,809,523 0.55 $ 0.042 23,809,523 $ 0.042 $ 0.04 50,000,000 4.73 $ 0.04 50,000,000 $ 0.04

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of fair value assumptions for stock-options	The weighted-average fair values of stock options granted for the years ended September 30, 2019 and 2018 were based on the following assumptions at the date of grant as follows: Date of Grant May 1, 2018 June 1, 2018 January 2, 2019 Number of Stock Options Granted 500,000 67,500,000 1,000,000 Stock Price $ 0.065 $ 0.075 $ 0.045 Exercise Price $ 0.065 $ 0.075 $ 0.045 Expected Life of Options 4.25 years 4.25 years 3.75 years Risk Free Rate 2.74 % 2.675 % 2.51 % Volatility 145.21 % 145.21 % 126.37 %
Schedule for summary of stock options activity	The following table summarizes the Company’s stock option activity during the year ended September 30, 2019: Number Weighted Weighted Average Outstanding at September 30, 2018 103,500,000 $ 0.0605 Granted 1,000,000 0.0450 Exercised — — Cancelled — — Outstanding at September 30, 2019 104,500,000 $ 0.0604 5.13 Vested and expected to vest 104,500,000 $ 0.0604 5.13 Exercisable at September 30, 2019 79,500,000 $ 0.0552 5.13

CORRECTION OF IMMATERIAL ERRO_2

CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Sep. 30, 2019
Correction Of Immaterial Error In Previously Issued Financial Statements
Schedule of financial statements	The following tables reflect the amounts within the balance sheet, statement of operations and statement of cash flows as originally reported to amounts as now reflected as of and for the quarters ended December 31, 2018, March 31, 2019, and June 30, 2019. December 31, 2018 As Originally Adjustment Corrected Balance Sheet Oil and Natural Gas Properties $ 11,203,790 $ 77,542 $ 11,281,332 Total Assets $ 28,172,736 $ 77,542 $ 28,250,278 Accumulated Deficit $ (42,282,117 ) $ 77,542 $ (42,204,575 ) Total Liabilities and Stockholders’ Deficit $ 28,172,736 $ 77,542 $ 28,250,278 March 31, 2019 As Originally Adjustment Corrected Balance Sheet Oil and Natural Gas Properties $ 16,892,281 $ 183,299 $ 17,075,580 Total Assets $ 32,438,825 $ 183,299 $ 32,622,124 Accumulated Deficit $ (47,695,556 ) $ 183,299 $ (47,512,257 ) Total Liabilities and Stockholders’ Deficit $ 32,438,825 $ 183,299 $ 32,622,124 June 30, 2019 As Originally Adjustment Corrected Balance Sheet Oil and Natural Gas Properties $ 17,318,916 $ 554,086 $ 17,873,002 Total Assets $ 37,551,079 $ 554,086 $ 38,105,165 Accumulated Deficit $ (54,574,356 ) $ 554,086 $ (54,020,270 ) Total Liabilities and Stockholders’ Deficit $ 37,551,079 $ 554,086 $ 38,105,165 Three Months Ended December 31, 2018 As Originally reported Adjustment Corrected Statement of Operations Interest Expense, net $ (98,157 ) $ 77,542 $ (20,615 ) Net Loss $ (423,861 ) $ 77,542 $ (346,319 ) Statement of Cash Flows Net Loss $ (423,861 ) $ 77,542 $ (346,319 ) Capitalized Interest Expense $ — $ (77,542 ) $ (77,542 ) Three Months Ended March 31, 2019 Six Months Ended March 31, 2019 As Originally reported Adjustment Corrected As Originally reported Adjustment Corrected Statements of Operations Interest Expense, net $ (106,152 ) $ 105,757 $ (395 ) $ (204,309 ) $ 183,299 $ (21,010 ) Net Loss $ (5,413,439 ) $ 105,757 $ (5,307,682 ) $ (5,837,299 ) $ 183,299 $ (5,654,000 ) Statement of Cash Flows Net Loss $ (5,837,299 ) $ 183,299 $ (5,654,000 ) Capitalized Interest Expense $ — $ (183,299 ) $ (183,299 ) Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 As Originally reported Adjustment Corrected As Originally reported Adjustment Corrected Statements of Operations Interest Expense, net $ (2,080,620 ) $ 370,787 $ (1,709,833 ) $ (2,284,928 ) $ 554,086 $ (1,730,842 ) Net Loss $ (6,878,800 ) $ 370,787 $ (6,508,013 ) $ (12,716,099 ) $ 554,086 $ (12,162,013 ) Statement of Cash Flows Net Loss $ (12,716,099 ) $ 554,086 $ (12,162,013 ) Capitalized Interest Expense $ — $ (554,086 ) $ (554,086 )

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Sep. 30, 2019USD ($)Numbershares	Sep. 30, 2018USD ($)Numbershares	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Number of leased federal outer continental shelf blocks | Number	14
Number of licensed three-dimensional (3-D) seismic data | Number	3
Accumulated losses	$ (55,582,010)	$ (41,858,257)	$ (54,020,270)	$ (47,512,257)	$ (42,204,575)
Accounts receivable, other non-current assets	$ 3,662,231	$ 24,785
Antidilutive securities excluded from EPS calculation | shares	354,818,379	213,089,281
Number of wellbores drilled | Number	2	2
Oil and Gas Joint Operations [Member]
Accounts receivable, net	$ 12,100,000
Accounts receivable, other non-current assets	$ 3,700,000

LIQUIDITY_GOING CONCERN (Detail

LIQUIDITY/GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017
Liquiditygoing Concern
Accumulated losses	$ (55,582,010)	$ (54,020,270)	$ (47,512,257)	$ (42,204,575)	$ (41,858,257)
Cash	1,138,919				$ 5,621,814	$ 6,426
Payment of joint payables from drilling operations	600,000
Minimum capital which company estimated to raise to meet its obligations and planned expenditures	$ 10,000,000

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES (Details Narrative)	Jan. 08, 2018$ / shares	Jan. 31, 2019USD ($)	Sep. 30, 2019USD ($)ft²aNumber$ / shares	Sep. 30, 2018USD ($)$ / shares
Number of licensed three-dimensional (3-D) seismic data | Number			3
Acres of three-dimensional (3-D) seismic data | a			2,200,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Received insurance claim			$ 2,500,000
Impairment of Oil and Natural Gas Properties			6,000,517
Wells in process			900,000
Accrued payable			1,600,000
Interest expense capitalized			1,100,000	$ 0
General and administrative expenses capitalized			$ 1,229,742	$ 1,242,807
Gulf of Mexico Well Tau [Member]
Percent of working interest		100.00%	100.00%
Percent to fund well costs		20.00%
Percent of budget to fund well costs		115.00%
Estimated insurance claim		$ 10,800,000
Number of well drilled | Number			2
Total depth of first drilled well | ft²			5,765
Total true vertical depth of first drilled well | ft²			5,670
Depth of second drilled well | ft²			15,254
Depth of originally permitted second drilled well | ft²			29,857
Received insurance claim			$ 10,800,000
Participation agreement [Member]
Percent of working interest	20.00%
Percent of exploratory costs	8.00%
Participation agreement [Member] | Delek GOM Investments, LLC, [Member]
Percent of working interest	75.00%
Percent of exploratory costs	90.00%
Percentage of option to purchase	5.00%
Common stock, par value (in dollars per share) | $ / shares	$ 0.001
Obligation for each Phase (percent)	20.00%
Common stock preceding under acquisition (percent)	10.00%

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Total	$ 157,049	$ 155,125
Less: accumulated depreciation	(144,035)	(140,339)
Net property and equipment	13,014	14,786
Office Equipment and Computers [Member]
Property, Plant and Equipment [Line Items]
Total	133,089	133,089
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	16,280	16,280
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total	$ 7,680	$ 5,756

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details 1)	12 Months Ended
	Sep. 30, 2019
Office Equipment and Computers [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Description of useful lives	Shorter of 5 years or related lease term

PROPERTY AND EQUIPMENT (Detai_3

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 5,619	$ 4,724

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
FEDERAL
Current	$ 0	$ 0
Deferred	0	0
STATE
Current	0	0
Deferred	0	0
TOTAL PROVISION	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Expected provision (based on statutory rate of 21%)	$ (2,881,988)	$ (553,714)
Effect of:
Increase in valuation allowance	2,879,685	2,696,631
Non-deductible expense	500,638	53,493
Rate change		(2,305,270)
Other, net	(498,335)	108,860
Total actual provision	$ 0	$ 0
Statutory tax rate	21.00%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Sep. 30, 2019	Sep. 30, 2018
DEFERRED TAX ASSETS (LIABILITIES)
Net operating losses	$ 10,295,547	$ 7,131,636
Exploration costs	(1,110,135)	(1,503,472)
Oil and natural gas leases	2,336,776	2,192,654
IDC	(1,036,737)
Partnership ordinary loss	(178,359)
Stock based compensation	567,406	411,287
Accrued interest and expenses not paid	386,685	271,190
Derivative financial instrument		(57,059)
Derivative financial instrument - Assets	69,120
Differences in book/tax depreciation	9,191	13,573
Net deferred tax asset	11,339,494	8,459,809
Valuation allowance	(11,339,494)	(8,459,809)
NET DEFERRED TAXES	$ 0	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Valuation allowance increase	$ 2,879,685	$ 2,696,633
Net operating loss carryforwards	$ 49,000,000
Percent of net operating loss expire from 2032 to 2038	66.00%
Percent of NOLs allowable deduction against future taxable income	100.00%
Net operating loss allowable as deduction	$ 33,400,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Nov. 15, 2016	Jun. 30, 2016	Feb. 28, 2016	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Debt face amount				$ 3,727,000
Dr. Ronald Bain, Former President [Member]
Interest rate			5.00%
Amount owed to related party					$ 267,000
Proceeds from issuance of convertible notes and warrants		$ 92,000
Proceeds from promissory notes			$ 267,000
John Seitz, CEO [Member] | Convertible Promissory Notes [Member]
Debt face amount						$ 8,675,500
Interest rate						5.00%
Debt conversion, price per share						$ 0.12
Debt maturity date				due on demand
Amount owed to related party				$ 8,675,500	8,675,500
Value of stock issued in conversion of notes payable						$ 5,300,000
Accrued interest payable				2,080,885	1,641,086
Related party [Member] | Promissory Notes [Member]
Proceeds from issuance of convertible notes and warrants	$ 50,000
Accounting Consulting Service [Member]
Accounting consulting services, included in related party payables				$ 59,250	$ 23,660

TERM LOAN AND CONVERTIBLE DEB_3

TERM LOAN AND CONVERTIBLE DEBENTURES (Details)	Sep. 30, 2019$ / shares	Aug. 07, 2019$ / shares	Jun. 30, 2019$ / shares	Jun. 21, 2019$ / shares	Mar. 31, 2019$ / shares	Jan. 02, 2019$ / shares	Jun. 01, 2018$ / shares	May 01, 2018$ / shares
Stock Price					$ 0.073	$ 0.045	$ 0.075	$ 0.065
June 21, 2019 Convertible Debenture [Member]
Stock Price	$ 0.034		$ 0.041	$ 0.041
Debt term	8 months 23 days		11 months 23 days	1 year
June 21, 2019 Convertible Debenture [Member] | Fixed Exercise Price [Member]
Debt, measurement input	0.05		0.050	0.050
June 21, 2019 Convertible Debenture [Member] | Price Volatility [Member]
Debt, measurement input	1.35		1.50	1.48
June 21, 2019 Convertible Debenture [Member] | Risk Free Interest Rate [Member]
Debt, measurement input	0.0175		0.0192	0.0195
August 7, 2019 Convertible Debenture [Member]
Stock Price	$ 0.034	$ 0.037
Debt term	8 months 23 days	1 year
August 7, 2019 Convertible Debenture [Member] | Fixed Exercise Price [Member]
Debt, measurement input	0.05	0.05
August 7, 2019 Convertible Debenture [Member] | Price Volatility [Member]
Debt, measurement input	1.35	1.44
August 7, 2019 Convertible Debenture [Member] | Risk Free Interest Rate [Member]
Debt, measurement input	0.0175	0.0175

TERM LOAN AND CONVERTIBLE DEB_4

TERM LOAN AND CONVERTIBLE DEBENTURES (Details 1)	Sep. 30, 2019USD ($)
Notes	$ 3,727,000
Discount	(2,529,034)
Notes, Net of Discount	1,197,966
Term Loan and Bridge Notes Financing[Member]
Notes	1,000,000
Notes, Net of Discount	1,000,000
Convertible Debentures [Member]
Notes	2,727,000
Discount	(2,529,034)
Notes, Net of Discount	$ 197,966

TERM LOAN AND CONVERTIBLE DEB_5

TERM LOAN AND CONVERTIBLE DEBENTURES (Details Narrative)	Nov. 04, 2019USD ($)	Aug. 07, 2019USD ($)	Aug. 05, 2019USD ($)	Jun. 21, 2019USD ($)	Apr. 19, 2019USD ($)$ / sharesshares	Mar. 06, 2019USD ($)shares	Mar. 01, 2019USD ($)$ / sharesshares	Jan. 15, 2018$ / sharesshares	Sep. 30, 2017$ / sharesshares	Nov. 30, 2016USD ($)Number$ / sharesshares	Sep. 30, 2019USD ($)Number$ / sharesshares	Sep. 30, 2018USD ($)Number$ / shares
Extinguishment of related party payables											$ 5,099,340	$ 526,459
Common stock par value (in dollars per shares) | $ / shares											$ 0.001	$ 0.001
Loss on Debt Extinguishment											$ (5,099,340)	$ (136,827)
Principal amount											$ 3,727,000
Percentage of variable conversion price											80.00%
One day charge on interest expense											$ 1,800,000
Term Loan Agreement [Member] | Delek GOM Investments, LLC, [Member]
Number of warrants issued | shares						238,095,238	238,095,238
Common stock par value (in dollars per shares) | $ / shares							$ 0.001
Warrant exercise price | $ / shares							$ 0.042
Debt discount						$ 5,100,000
Loss on Debt Extinguishment						5,100,000
Principal amount						$ 10,000,000	$ 11,000,000
Interest rate							5.00%
Default interest rate							7.00%
Proceeds from issuance							$ 500,000
Term Loan Agreement [Member] | Delek GOM Investments, LLC, [Member] | Minimum [Member]
Outstanding debt amount							100,000
Term Loan Agreement [Member] | Delek GOM Investments, LLC, [Member] | Maximum [Member]
Outstanding debt amount							$ 500,000
Term Loan Facility [Member] | Delek GOM Investments, LLC, [Member]
Warrant exercise price | $ / shares					$ 0.042
Debt discount					$ 500,000
Principal amount					$ 1,000,000
June 2017 Warrants [Member]
Warrant exercise price | $ / shares											$ 0.03
Warrants [Member] | Term Loan Facility [Member] | Delek GOM Investments, LLC, [Member]
Number of warrants issued | shares					23,809,524
Bridge Financing Notes [Member]
Proceeds from issuance of convertible notes										$ 837,000
Number of convertible promissory notes issued | Number										11
Maturity term										1 year
Interest rate										8.00%
Conversion price | $ / shares										$ 0.025
Qualified equity financing amount										$ 3,000,000
Bridge Financing Notes [Member] | June 2017 Warrants [Member]
Number of warrants issued | shares									7,000,000
Warrant exercise price | $ / shares									$ 0.03
Percentage of original warrants issued									25.00%
Bridge Financing Notes [Member] | Warrants [Member]
Number of warrants issued | shares								2,800,000		27,900,000
Warrant exercise price | $ / shares								$ 0.10		$ 0.03
Warrant term										3 years
Percentage of original warrants issued								10.00%
Bridge Financing Notes [Member] | January 15, 2019 Warrants [Member]
Number of convertible promissory notes issued | Number												6
Debt discount											$ 152,000
Debt amount converted											277,000	$ 560,000
Accrued interest amount converted											5,500	$ 87,000
Cumulative accrued interest											$ 72,000
Bridge Financing Notes [Member] | Related Parties [Member]
Proceeds from issuance of convertible notes										$ 222,000
Extinguishment of related party payables										$ 70,000
Convertible Debentures [Member] | Securities Purchase Agreement [Member]
Proceeds from issuance of convertible notes		$ 400,000	$ 400,000	$ 2,100,000
Number of convertible promissory notes issued | Number											2
Interest rate											8.00%
Common stock par value (in dollars per shares) | $ / shares											$ 0.05
Principal amount				$ 3,000,000
Convertible Debentures [Member] | Securities Purchase Agreement [Member] | Subsequent Event [Member]
Proceeds from issuance of convertible notes	$ 500,000
Convertible Debentures [Member] | Warrants [Member] | Securities Purchase Agreement [Member]
Number of warrants issued | shares											50,000,000
Warrant exercise price | $ / shares											$ 0.04
Offering costs related to this issuance											$ 333,000

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - Recurring [Member]	12 Months Ended
	Sep. 30, 2019USD ($)
Derivative Financial Instrument	$ (271,710)
Total as of September 30, 2018	(271,710)
Issuance of Derivative Financial Instruments	(3,863,599)
Change in fair value for year ended September 30, 2019	600,853
Total as of Total as of September 30, 2019	(3,534,456)
Significant Other Observable Inputs (Level 2) [Member]
Derivative Financial Instrument	(271,710)
Total as of September 30, 2018	(271,710)
Issuance of Derivative Financial Instruments	(3,863,599)
Change in fair value for year ended September 30, 2019	600,853
Total as of Total as of September 30, 2019	$ (3,534,456)

FAIR VALUE MEASUREMENT (Detai_2

FAIR VALUE MEASUREMENT (Details Narrative)	Sep. 30, 2019USD ($)
Fair Value Disclosures [Abstract]
Fair value of oil and gas properties	$ 0

COMMON STOCK_PAID IN CAPITAL (D

COMMON STOCK/PAID IN CAPITAL (Details)	Sep. 30, 2019$ / sharesyrshares
June 2016 Warrants [Member]
Warrants issued | shares	7,600,000
June 2016 Warrants [Member] | Share Price [Member]
Measurement Input	0.054	[1]
June 2016 Warrants [Member] | Exercise Price [Member]
Measurement Input	0.03
June 2016 Warrants [Member] | Risk Free Interest Rate [Member]
Measurement Input	0.87
June 2016 Warrants [Member] | Expected Term [Member]
Measurement Input | yr	3
June 2016 Warrants [Member] | Volatility [Member]
Measurement Input	1.35
November 2016 Warrants [Member]
Warrants issued | shares	1,700,000
November 2016 Warrants [Member] | Share Price [Member]
Measurement Input	0.029	[1]
November 2016 Warrants [Member] | Exercise Price [Member]
Measurement Input	0.03
November 2016 Warrants [Member] | Risk Free Interest Rate [Member]
Measurement Input	0.0128
November 2016 Warrants [Member] | Expected Term [Member]
Measurement Input | yr	3
November 2016 Warrants [Member] | Volatility [Member]
Measurement Input	1.31
June 2017 Warrants [Member]
Warrants issued | shares	2,300,000
June 2017 Warrants [Member] | Share Price [Member]
Measurement Input	0.025	[1]
June 2017 Warrants [Member] | Exercise Price [Member]
Measurement Input	0.03
June 2017 Warrants [Member] | Risk Free Interest Rate [Member]
Measurement Input	0.0135
June 2017 Warrants [Member] | Expected Term [Member]
Measurement Input | yr	2
June 2017 Warrants [Member] | Volatility [Member]
Measurement Input	1.35
January 2018 Warrants [Member]
Warrants issued | shares	900,000
January 2018 Warrants [Member] | Share Price [Member]
Measurement Input	0.11	[1]
January 2018 Warrants [Member] | Exercise Price [Member]
Measurement Input	0.10
January 2018 Warrants [Member] | Risk Free Interest Rate [Member]
Measurement Input	0.0189
January 2018 Warrants [Member] | Expected Term [Member]
Measurement Input | yr	1.5
January 2018 Warrants [Member] | Volatility [Member]
Measurement Input	1.63
[1]	Fair market value on the date of agreement.

COMMON STOCK_PAID IN CAPITAL _2

COMMON STOCK/PAID IN CAPITAL (Details 1)	12 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
June 2016 Warrants [Member]
Number of warrants - outstanding | $	$ 7,566,667
Exercise price	$ 0.03
Weighted Average Remaining Contractual Life (Yrs)	6 months 29 days
Weighted Average Exercise Price - outstanding	$ 0.03
Number of warrants - exercisable | shares	7,566,667
Weighted Average Exercise Price- exercisable	$ 0.03
November 2016 Warrants [Member]
Number of warrants - outstanding | $	$ 1,666,667
Exercise price	$ 0.03
Weighted Average Remaining Contractual Life (Yrs)	6 months 29 days
Weighted Average Exercise Price - outstanding	$ 0.03
Number of warrants - exercisable | shares	1,666,667
Weighted Average Exercise Price- exercisable	$ 0.03
June 2017 Warrants [Member]
Number of warrants - outstanding | $	$ 1,891,667
Exercise price	$ 0.03
Weighted Average Remaining Contractual Life (Yrs)	6 months 29 days
Weighted Average Exercise Price - outstanding	$ 0.03
Number of warrants - exercisable | shares	1,891,667
Weighted Average Exercise Price- exercisable	$ 0.03
November 2017 Warrants [Member]
Number of warrants - outstanding | $	$ 416,667
Exercise price	$ 0.03
Weighted Average Remaining Contractual Life (Yrs)	6 months 29 days
Weighted Average Exercise Price - outstanding	$ 0.03
Number of warrants - exercisable | shares	416,667
Weighted Average Exercise Price- exercisable	$ 0.03
January 2018 Warrants [Member]
Number of warrants - outstanding | $	$ 923,333
Exercise price	$ 0.10
Weighted Average Remaining Contractual Life (Yrs)	6 months 29 days
Weighted Average Exercise Price - outstanding	$ 0.10
Number of warrants - exercisable | shares	923,333
Weighted Average Exercise Price- exercisable	$ 0.10

COMMON STOCK_PAID IN CAPITAL _3

COMMON STOCK/PAID IN CAPITAL (Details 2)	12 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Financing Note Warrants #1 [Member]
Number of warrants - outstanding | $	$ 550,000
Exercise price	$ 0.10
Weighted Average Remaining Contractual Life (Yrs)	2 years 3 months
Weighted Average Exercise Price - outstanding	$ 0.10
Number of warrants - exercisable | shares	550,000
Weighted Average Exercise Price- exercisable	$ 0.10
Financing Note Warrants #2 [Member]
Number of warrants - outstanding | $	$ 1,100,000
Exercise price	$ 0.10
Weighted Average Remaining Contractual Life (Yrs)	2 years 5 months 16 days
Weighted Average Exercise Price - outstanding	$ 0.10
Number of warrants - exercisable | shares	1,100,000
Weighted Average Exercise Price- exercisable	$ 0.10
Financing Note Warrants #3 [Member]
Number of warrants - outstanding | $	$ 1,100,000
Exercise price	$ 0.10
Weighted Average Remaining Contractual Life (Yrs)	3 years 14 days
Weighted Average Exercise Price - outstanding	$ 0.10
Number of warrants - exercisable | shares	1,100,000
Weighted Average Exercise Price- exercisable	$ 0.10
Financing Note Warrants #4 [Member]
Number of warrants - outstanding | $	$ 1,100,000
Exercise price	$ 0.10
Weighted Average Remaining Contractual Life (Yrs)	3 years 2 months 16 days
Weighted Average Exercise Price - outstanding	$ 0.10
Number of warrants - exercisable | shares	1,100,000
Weighted Average Exercise Price- exercisable	$ 0.10
Financing Note Warrants #5 [Member]
Number of warrants - outstanding | $	$ 9,662,500
Exercise price	$ 0.09
Weighted Average Remaining Contractual Life (Yrs)	1 year 11 months 24 days
Weighted Average Exercise Price - outstanding	$ 0.09
Number of warrants - exercisable | shares	9,662,500
Weighted Average Exercise Price- exercisable	$ 0.09
Financing Note Warrants #6 [Member]
Number of warrants - outstanding | $	$ 2,027,780
Exercise price	$ 0.15
Weighted Average Remaining Contractual Life (Yrs)	1 year 12 months 26 days
Weighted Average Exercise Price - outstanding	$ 0.15
Number of warrants - exercisable | shares	2,027,780
Weighted Average Exercise Price- exercisable	$ 0.15
Financing Note Warrants #7 [Member]
Number of warrants - outstanding | $	$ 23,809,523
Exercise price	$ 0.042
Weighted Average Remaining Contractual Life (Yrs)	6 months 18 days
Weighted Average Exercise Price - outstanding	$ 0.042
Number of warrants - exercisable | shares	23,809,523
Weighted Average Exercise Price- exercisable	$ 0.042
Financing Note Warrants #8 [Member]
Number of warrants - outstanding | $	$ 50,000,000
Exercise price	$ 0.04
Weighted Average Remaining Contractual Life (Yrs)	4 years 9 months 23 days
Weighted Average Exercise Price - outstanding	$ 0.04
Number of warrants - exercisable | shares	50,000,000
Weighted Average Exercise Price- exercisable	$ 0.04

COMMON STOCK_PAID IN CAPITAL _4

COMMON STOCK/PAID IN CAPITAL (Details 3) - Warrants [Member]	Sep. 30, 2019$ / sharesshares
Warrants issued | shares	9,662,500
Warrant term	3 years
Share Price [Member]
Measurement Input	0.044
Exercise Price [Member]
Measurement Input	0.09
Risk Free Interest Rate [Member]
Measurement Input	0.0246
Volatility [Member]
Measurement Input	1.49

COMMON STOCK_PAID IN CAPITAL _5

COMMON STOCK/PAID IN CAPITAL (Details Narrative) - USD ($)	Jan. 02, 2019	Jun. 01, 2018	May 01, 2018	Jan. 15, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2017	Oct. 31, 2017	Mar. 31, 2017	Dec. 31, 2016	Nov. 30, 2016	Sep. 30, 2019	Aug. 31, 2017	Sep. 30, 2018	Mar. 31, 2019	Dec. 31, 2018
Term	3 years 9 months	4 years 3 months	4 years 3 months
Common stock, authorized					1,500,000,000	1,500,000,000						1,500,000,000		1,500,000,000
Proceeds from issuance of common shares and warrants												$ 259,000
Stock price (in dollars per share)	$ 0.045	$ 0.075	$ 0.065												$ 0.073
Value of stock issued for services														$ 5,206,753
Private Placement [Member]
Common stock, authorized																19,300,000
Private Placement [Member] | Warrants [Member]
Common stock, authorized																9,700,000
April 2016 Promissory Notes [Member] | Private Placement [Member] | Warrants [Member]
Number of warrants exercised					3,300,000
Number of warrant expired					22,000,000
Number of warrant outstanding					12,500,000							12,500,000
Warrants [Member]
Number of warrants issued											27,900,000
Term											3 years
Warrant exercise price											$ 0.03
Number of stock issued for services						2,000,000
Value of stock issued for services						$ 80,000
Warrants [Member] | Bridge Financing Notes [Member]
Percentage of additional warrants				10.00%									25.00%
Issuance of extension warrants				2,800,000									7,000,000
Warrants [Member] | Investor [Member]
Number of warrants issued							1,100,000	1,100,000	1,100,000	550,000
Term							5 years	5 years	5 years	5 years
Stock price (in dollars per share)							$ 0.10	$ 0.10	$ 0.10	$ 0.10
Common Stock [Member]
Number of stock issued for services						4,000,000								84,348,985
Value of stock issued for services						$ 231,000								$ 84,349

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - $ / shares	Jan. 02, 2019	Jun. 01, 2018	May 01, 2018	Sep. 30, 2019	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Number of Stock Options Granted	1,000,000	67,500,000	500,000	1,000,000
Stock Price	$ 0.045	$ 0.075	$ 0.065		$ 0.073
Exercise Price	$ 0.045	$ 0.075	$ 0.065
Expected Life of Options	3 years 9 months	4 years 3 months	4 years 3 months
Risk Free Rate	2.51%	2.675%	2.74%
Volatility	126.37%	145.21%	145.21%

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1) - $ / shares	Jan. 02, 2019	Jun. 01, 2018	May 01, 2018	Sep. 30, 2019
Number of Options
Outstanding at beginning of period				103,500,000
Granted	1,000,000	67,500,000	500,000	1,000,000
Outstanding at end of period				104,500,000
Vested and expected to vest				104,500,000
Exercisable at end of period				79,500,000
Weighted Average Exercise Price
Outstanding at beginning of period				$ 0.0605
Granted				0.0450
Outstanding at end of period				0.0604
Vested and expected to vest				0.0604
Exercisable at end of period				$ 0.0552
Weighted Average Remaining Contractual Term
Outstanding at end of period				5 years 1 month 17 days
Vested and expected to vest				5 years 1 month 17 days
Exercisable at end of period				5 years 1 month 17 days

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)

Jun. 01, 2020

Jun. 01, 2019

Jan. 02, 2019

Jun. 01, 2018

May 01, 2018

Jan. 02, 2018

Jan. 01, 2017

Jun. 01, 2018

May 01, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 31, 2025

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense

$ 1,629,333

$ 1,857,531

Stock-based compensation capitalized to unproved properties

884,839

$ 820,877

Unrecognized compensation expense related to stock options

$ 1,100,000

Number of stock options granted

1,000,000

67,500,000

500,000

1,000,000

Fair value of stock options granted

$ 35,000

Expected life of options

7 months

Exercise price (in dollars per share)

$ 0.045

$ 0.075

$ 0.065

$ 0.075

$ 0.065

Exercisable year

3 years 9 months

4 years 3 months

4 years 3 months

Share-based Compensation Award, Tranche January 1, 2017 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock option of vested, percentage

50.00%

50.00%

50.00%

Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of stock options granted

1,000,000

33,500,000

33,500,000

500,000

Employee Stock Option [Member] | Subsequent Event [Member] | 2018 Omnibus Incentive Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of stock options granted

49,000,000

Employee Stock Option [Member] | Subsequent Event [Member] | Inducement Awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of stock options granted

18,500,000

Employee Stock Option [Member] | Employees, Directors and Contractors [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of stock options granted

67,500,000

Fair value of stock option of vested

$ 24,000,000

$ 18,500,000

Exercise price (in dollars per share)

$ 0.075

$ 0.075

Employee Stock Option [Member] | Employees, Directors and Contractors [Member] | Subsequent Event [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value of stock option of vested

$ 25,000,000

Exercisable year

7 years 6 months

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	1 Months Ended
	Aug. 31, 2018USD ($)	Jul. 31, 2018USD ($)ft²	Sep. 30, 2019USD ($)
Lease term		39 months
Office space | ft²		5,000
Annual base rent for the first 18 months		$ 94,000
Annual base rent - Year two			$ 97,000
Annual base rent - Year two			99,000
Principal amount			3,727,000
Fair value liability			$ 554,000
Vendor [Member]
Principal amount	$ 1,000,000
Repayment of debt	150,000
Future cash payment	7,500
Common stock issued to vendor for settlement of debt	10,000,000
Vendor [Member] | Minimum [Member]
Gain on sale of stock by vendor in excess of	$ 1,300,000

CORRECTION OF IMMATERIAL ERRO_3

CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details) - USD ($)	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Balance Sheet
Oil,and Natural Gas Proeprties	$ 17,338,978	$ 17,873,002	$ 17,075,580	$ 11,281,332	$ 8,112,784
Total Assets	30,783,623	38,105,165	32,622,124	28,250,278	20,093,007
Accumulated Deficit	(55,582,010)	(54,020,270)	(47,512,257)	(42,204,575)	(41,858,257)
Total Liabilities and Stockholders' Equity (Deficit)	$ 30,783,623	38,105,165	32,622,124	28,250,278	$ 20,093,007
As Originally Reported [Member]
Balance Sheet
Oil,and Natural Gas Proeprties		17,318,916	16,892,281	11,203,790
Total Assets		37,551,079	32,438,825	28,172,736
Accumulated Deficit		(54,574,356)	(47,695,556)	(42,282,117)
Total Liabilities and Stockholders' Equity (Deficit)		37,551,079	32,438,825	28,172,736
Adjustment [Member]
Balance Sheet
Oil,and Natural Gas Proeprties		554,086	183,299	77,542
Total Assets		554,086	183,299	77,542
Accumulated Deficit		554,086	183,299	77,542
Total Liabilities and Stockholders' Equity (Deficit)		$ 554,086	$ 183,299	$ 77,542

CORRECTION OF IMMATERIAL ERRO_4

CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details 1) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Statements of Operations
Interest Expense, net	$ (1,709,833)	$ (395)	$ (20,615)	$ (21,010)	$ (1,730,842)	$ (1,828,489)	$ (780,513)
Net Loss	(6,508,013)	(5,307,682)	(346,319)	(5,654,000)	(12,162,013)	(13,723,753)	(2,636,734)
Statement of Cash Flows
Net Loss	(6,508,013)	(5,307,682)	(346,319)	(5,654,000)	(12,162,013)	(13,723,753)	$ (2,636,734)
Capitalized Interest Expense			(77,542)	(183,299)	(554,086)	$ (1,109,823)
As Originally Reported [Member]
Statements of Operations
Interest Expense, net	(2,080,620)	(106,152)	(98,157)	(204,309)	(2,284,928)
Net Loss	(6,878,800)	(5,413,439)	(423,861)	(5,837,299)	(12,716,099)
Statement of Cash Flows
Net Loss	(6,878,800)	(5,413,439)	(423,861)	(5,837,299)	(12,716,099)
Adjustment [Member]
Statements of Operations
Interest Expense, net	370,787	105,757	77,542	183,299	554,086
Net Loss	370,787	105,757	77,542	183,299	554,086
Statement of Cash Flows
Net Loss	$ 370,787	$ 105,757	77,542	183,299	554,086
Capitalized Interest Expense			$ (77,542)	$ (183,299)	$ (554,086)

CORRECTION OF IMMATERIAL ERRO_5

CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Net Loss	$ (6,508,013)	$ (5,307,682)	$ (346,319)	$ (5,654,000)	$ (12,162,013)	$ (13,723,753)	$ (2,636,734)
Adjustment [Member]
Net Loss	$ 370,787	$ 105,757	$ 77,542	$ 183,299	$ 554,086

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended
	Nov. 30, 2019USD ($)	Oct. 31, 2019USD ($)Number$ / sharesshares	May 05, 2019ft
Post Drilling Agreement [Member] | Energy Package Insurance Policy [Member] | Underwriters [Member]
Depth of drilling operations | ft			15,254
Subsequent Event [Member] | Post Drilling Agreement [Member] | Delek GOM Investments, LLC [Member]
Number of common shares issued | shares		38,423,221
Term Loan Payoff		$ 1,220,548
Convertible debt shares upon conversion | Number		24,410,960
Conversion price (in dollars per share) | $ / shares		$ 0.05
Interest rate		12.00%
Maturity date		Oct. 22, 2020
Increase in interest rate after default event		15.00%
Subsequent Event [Member] | Post Drilling Agreement [Member] | Delek GOM Investments, LLC [Member] | Maximum [Member]
Total number of converted shares sale limitation (percent)		10.00%
Subsequent Event [Member] | Note Payable [Member]
Insurance policy	$ 241,000
Insurance policy premium	$ 221,000
Subsequent Event [Member] | Convertible Debenture [Member] | Post Drilling Agreement [Member] | Delek GOM Investments, LLC [Member]
Number of shares issued upon debt conversion | shares		17,919,455
Debt amount converted		$ 300,000
Accrued interest amount converted		$ 86,636
Weighted average conversion price (in dollars per share) | $ / shares		$ .0214