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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:15.0pt;">UNITED STATES </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:15.0pt;">SECURITIES AND EXCHANGE COMMISSION </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Washington, D.C.
20549 </font></b></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:15.0pt;">Form 8-K </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p align=center style="border:none;margin:0in;margin-bottom:1.5pt;padding:0in;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">CURRENT REPORT </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to
Section 13 or 15(d) of The Securities Exchange Act of 1934 </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Date of Report (Date of earliest event reported): February
7, 2013 </font></b></p>

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<p align=center style="border:none;margin:0in;margin-bottom:1.5pt;padding:0in;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:20.0pt;">Gateway Energy Corporation</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(Exact name of registrant as specified in its charter) </font></b></p>

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<p align=center style="border:none;margin:0in;margin-bottom:1.5pt;padding:0in;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:504.000000pt;">
 <tr>
  <td width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td width=31% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Delaware</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">000-06404</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">44-0651207</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(State or other jurisdiction</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">of incorporation)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(Commission</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.75pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">File Number)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(I.R.S. Employer</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.75pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">Identification No.)</font></b></p>
  </td>
 </tr>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:504.000000pt;">
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  <td width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">1415 Louisiana Street, Suite 4100 </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.75pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Houston, Texas</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">77002</font></b></p>
  </td>
 </tr>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(Address of principal executive offices)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(Zip Code)</font></b></p>
  </td>
 </tr>
</table>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(713) 336-0844 </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">(Registrant&#8217;s
telephone number, including area code) </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">N/A &nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">(Former name or former address, if changed since last
report) </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">

<p align=center style="border:none;margin:0in;margin-bottom:1.5pt;padding:0in;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below): </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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  <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=96% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:504.000000pt;">
 <tr>
  <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=96% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:504.000000pt;">
 <tr>
  <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=96% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b)) </font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:504.000000pt;">
 <tr>
  <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=96% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c)) </font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="border:none;margin:0in;margin-bottom:1.5pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Explanatory
Note</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On February 13, 2013, Gateway Energy Corporation (the
&#8220;Company&#8221;) closed and funded three transactions in order to improve the
Company&#8217;s financial condition and liquidity.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">As previously disclosed, on December 12, 2012, Gateway
Pipeline USA Corporation (&#8220;GPUC&#8221;), a wholly owned subsidiary of the Company,
entered into an asset sales agreement (the &#8220;ASA&#8221;) with GEC Holding, LLC (now
known as FMP Holdings, LLC, the &#8220;Buyer&#8221;), pursuant to which GPUC agreed to sell
certain assets, including certain pipelines and pipeline facilities located in
Guadalupe and Shelby Counties, Texas, Miller County, Arkansas and Pettis
County, Missouri, as well as certain surface contracts, commercial contracts
and records related to the operation of the facilities (the &#8220;Assets&#8221;), to the
Buyer for $1,100,000.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Closing of the ASA was conditioned upon the entry of the
Company into an agreement with Meridian Bank Texas (&#8220;Meridian Bank&#8221;), in
connection with its loan agreement dated December 7, 2009, as amended April 5,
2011, October 31, 2011 and December 9, 2011 (the &#8220;Loan Agreement.&#8221;). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Separately, the Company entered into a subscription agreement
(the &#8220;Subscription Agreement&#8221;) with GreyCap Energy LLC (&#8220;GreyCap&#8221;), as further
described below.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The foregoing description of the Asset Sales Agreement is
qualified in its entirety by reference to the full text of the Asset Sales
Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.1.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item
1.01 Entry into a Material Definitive Agreement.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fifth Amendment to Loan Agreement</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In connection with the sale of the Assets and the closing of
the ASA, accepted and agreed to on February 7, 2013 and effective as of January
30, 2013, the Company, Gateway Pipeline Company (&#8220;GPC&#8221;), Gateway Offshore
Pipeline Company (&#8220;GOPC&#8221;), Gateway Processing Company (&#8220;Gateway Processing&#8221;),
Gateway Energy Marketing Company (&#8220;GEMC&#8221;), GPUC, Gateway Commerce LLC (&#8220;GCLLC&#8221;)
and Gateway Delmar LLC (together with GPC, GOPC, Gateway Processing, GEMC, GPUC
and GCLLC, the &#8220;Guarantors&#8221;), entered into the fifth amendment to the Loan
Agreement (the &#8220;Fifth Amendment&#8221;) with Meridian Bank.&#160; Pursuant to the Fifth
Amendment, the following amendments were made to the Loan Agreement:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Collateral</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&#160;
In addition to certain existing collateral securing obligations under the note,
the Company assigned a deposit account in the amount of $450,000 to Meridian Bank
pursuant to an Assignment of Deposit Account dated as of January 30, 2012.&#160; The
purpose of the deposit account is to fund the planned abandonment of certain
pipelines located in the Gulf of Mexico during the first and second quarter of
2013.&#160;&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Guarantors</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&#160;
GPLLC was required to execute and deliver an unlimited guaranty in favor of
Meridian Bank and became one of the &#8220;Guarantors&#8221; under the Loan Agreement.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Financial
Covenant</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&#160; The Fifth Amendment requires that the Company maintain a debt to
tangible net worth ratio less than or equal to 3.5 to 1.0 as of the end of the
each fiscal quarter, a debt service coverage ratio greater than 1.5 to 1.0 and
a current ratio of 1.25 to 1.0.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fees</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&#160;
In connection with the Fifth Amendment, the Company paid Meridian Bank an
amendment fee of $3,750.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The foregoing description is qualified in its entirety by
reference to the full text of the Fifth Amendment to the Loan Agreement, which
is filed with this Current Report on Form 8-K as Exhibit 10.2.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Amendment
to Term Promissory Note</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In connection with entering the Fifth Amendment, the Company
and Meridian also entered into an Amendment to Term Promissory Note effective
as of January 30, 2013 (the &#8220;Amended Term Note&#8221;).&#160; The outstanding balance of
the Amended Term Note, as of January 30, 2013, was $1,732,674.11, and it has a
maturity date of June 30, 2013.&#160; Principal on the Amended Term Note is due and
payable in equal monthly installments of $10,000, plus all accrued interest,
with a maturity date of June 30, 2013.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The foregoing description is qualified in its entirety by
reference to the full text of the Amendment to Term Promissory </font>
<FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Note, which is filed with this Current Report on Form 8-K as Exhibit 10.3.</FONT></p>
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<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Paydown Letter and Full Release</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></I></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">In connection with the sale of the Assets, the Company and Meridian Bank entered into a paydown letter (the &#8220;Paydown Letter&#8221;), pursuant to which the Company agreed to fund a partial payoff of the term loan, reducing the outstanding principal balance owing on the term loan to $1,732,674.11.&nbsp; Meridian consented to the sale of the Assets and agreed, pursuant to a full release, to release its liens on the Assets.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">The foregoing description is qualified in its entirety by reference to the full text of the Paydown Letter, which is filed with this Current Report on Form 8-K as Exhibit 10.4.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Common Stock Subscription Agreement</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></I></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">On February 7, 2013, the Company entered into the Subscription Agreement, pursuant to which GreyCap agreed to acquire 6,250,000 shares of the Company&#8217;s common stock, par value $.01 per share (the &#8220;Common Stock&#8221;), constituting 20.4% of the Company&#8217;s issued and outstanding Common Stock, at an aggregate purchase price of $250,000.&nbsp; The closing of the transactions contemplated by the Subscription Agreement was to occur immediately following the closing of the (i) transactions contemplated by the Asset Sales Agreement and (ii) the Fifth Amendment.&nbsp; The shares purchased by GreyCap were issued pursuant to an exemption under Section 4(2) of the Securities Act of 1933.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">As promptly as is reasonably possible following the closing of the purchase of shares by GreyCap, the Company is required to appoint an individual identified by GreyCap, &nbsp;and reasonably acceptable to the Company, to the Company&#8217;s Board of Directors (the &#8220;Board&#8221;).&nbsp; Such appointed director will serve on the Board through the date of the Company&#8217;s 2013 annual meeting of stockholders, or until a successor is duly elected and qualified.&nbsp; The Company is required to use its reasonable best efforts to cause the GreyCap appointed director to be nominated to stand for election at the 2013 annual meeting of stockholders.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Pursuant to the terms of the Subscription Agreement, if the Company proposes to sell any equity securities, with certain exceptions, before February 7, 2015, GreyCap shall have the opportunity to purchase, on the same terms, at the same price and for the same consideration to be paid by the proposed buyer(s) of the additional equity securities in an amount up to the product obtained by multiplying (i) the number of equity securities being offered to the proposed buyer(s) by (ii) the lesser of (x) 20.4% or (y) a fraction, the numerator of which is the number of shares of common stock owned by GreyCap at the time and the denominator of which is the total number of issued and outstanding shares of common stock at such time.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">The foregoing description is qualified in its entirety by reference to the full text of the Subscription Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item&nbsp;2.01&nbsp; Completion of Acquisition or Disposition of Assets.</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">The disclosure set forth in the Explanatory Note regarding the Asset Sales Agreement and in Item 1.01 regarding the Subscription Agreement is incorporated into this Item 2.01 by reference.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item&nbsp;2.03&nbsp; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of&nbsp; Registrant.</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">The disclosure set forth in Item 1.01 regarding the Fifth Amendment to the Loan Agreement, the Amendment to the Term Promissory Note and the Paydown Letter and Full Release is incorporated into this Item 2.03 by reference.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item&nbsp;3.02&nbsp; Unregistered Sale of Equity Securities.</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">The disclosure set forth in Item 1.01 regarding the Subscription Agreement is incorporated into this Item 3.02 by reference.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item 9.01&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Sales Agreement between Gateway Pipeline USA Corporation and GEC Holding, LLC dated </FONT>

<font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">December 12, 2012 (incorporated by reference to
Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K filed on December 13,
2012).</font></P>

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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10.2&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fifth
Amendment to Loan Agreement, dated January 30, 2013, among Gateway Energy
Corporation, Gateway Pipeline Company, Gateway Offshore Pipeline Company,
Gateway Processing Company, Gateway Energy Marketing Company, Gateway Pipeline
USA Corporation, Gateway Commerce LLC, Gateway Delmar LLC and Meridian Bank
Texas.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10.3&#160;&#160;&#160;&#160;&#160;&#160;&#160; Amendment
to Term Promissory Note, dated January 30, 2013, between Gateway Energy
Corporation and Meridian Bank Texas.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; Paydown
Letter, dated January 30, 2013, between Gateway Energy Corporation and Meridian
Bank Texas.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10.5&#160;&#160;&#160;&#160;&#160;&#160;&#160; Common
Stock Subscription Agreement, dated February 7, 2013, between Gateway Energy
Corporation and GreyCap Energy LLC.</font></p>





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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SIGNATURE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-indent:17.25pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized. </font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Gateway Energy Corporation</font></b></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td width=4% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
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  <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Dated: February 13, 2013</font></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=26% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=37% style="padding:0in 0in 0in 0in;">
  <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="border:none;margin:0in;margin-bottom:.75pt;padding:0in;"><font face="Times New Roman" style="font-size:10.0pt;">/s/
  Frederick M. Pevow, Jr.</font></p>
  </div>
  </td>
 </tr>
<tr>
  <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=26% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Frederick M. Pevow, Jr.</font></b></p>
  <p style="margin:0in;margin-bottom:.75pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">President and Chief
  Executive Officer</font></b></p>
  </td>
 <td width=4% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>



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{"company-data": {"conformed-name": "GATEWAY ENERGY CORP/NE", "cik": "0000040194", "assigned-sic": "4922", "irs-number": "440651207", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-06404", "film-number": "13604075"}, "business-address": {"street1": "1415 LOUISIANA STREET", "street2": "STE 4100", "city": "HOUSTON", "state": "TX", "zip": "77002", "phone": "713-600-1044"}, "mail-address": {"street1": "1415 LOUISIANA STREET", "street2": "STE 4100", "city": "HOUSTON", "state": "TX", "zip": "77002"}, "former-company": [{"former-conformed-name": "GATEWAY GATHERING SYSTEMS INC", "date-changed": "19941012"}, {"former-conformed-name": "GATEWAY SPORTING GOODS CO", "date-changed": "19920703"}]}
form8-kfifthamendmenttoloana.htm - Generated by SEC Publisher for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
Form 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February
7, 2013
Gateway Energy Corporation
(Exact name of registrant as specified in its charter)
Delaware
000-06404
44-0651207
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
1415 Louisiana Street, Suite 4100
Houston, Texas
77002
(Address of principal executive offices)
(Zip Code)
(713) 336-0844
(Registrant's
telephone number, including area code)
N/A
(Former name or former address, if changed since last
report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨
Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))
¨
Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))
1
Explanatory
Note
On February 13, 2013, Gateway Energy Corporation (the
"Company") closed and funded three transactions in order to improve the
Company's financial condition and liquidity.
As previously disclosed, on December 12, 2012, Gateway
Pipeline USA Corporation ("GPUC"), a wholly owned subsidiary of the Company,
entered into an asset sales agreement (the "ASA") with GEC Holding, LLC (now
known as FMP Holdings, LLC, the "Buyer"), pursuant to which GPUC agreed to sell
certain assets, including certain pipelines and pipeline facilities located in
Guadalupe and Shelby Counties, Texas, Miller County, Arkansas and Pettis
County, Missouri, as well as certain surface contracts, commercial contracts
and records related to the operation of the facilities (the "Assets"), to the
Buyer for $1,100,000.
Closing of the ASA was conditioned upon the entry of the
Company into an agreement with Meridian Bank Texas ("Meridian Bank"), in
connection with its loan agreement dated December 7, 2009, as amended April 5,
2011, October 31, 2011 and December 9, 2011 (the "Loan Agreement.").
Separately, the Company entered into a subscription agreement
(the "Subscription Agreement") with GreyCap Energy LLC ("GreyCap"), as further
described below.
The foregoing description of the Asset Sales Agreement is
qualified in its entirety by reference to the full text of the Asset Sales
Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.1.
Item
1.01 Entry into a Material Definitive Agreement.
Fifth Amendment to Loan Agreement
In connection with the sale of the Assets and the closing of
the ASA, accepted and agreed to on February 7, 2013 and effective as of January
30, 2013, the Company, Gateway Pipeline Company ("GPC"), Gateway Offshore
Pipeline Company ("GOPC"), Gateway Processing Company ("Gateway Processing"),
Gateway Energy Marketing Company ("GEMC"), GPUC, Gateway Commerce LLC ("GCLLC")
and Gateway Delmar LLC (together with GPC, GOPC, Gateway Processing, GEMC, GPUC
and GCLLC, the "Guarantors"), entered into the fifth amendment to the Loan
Agreement (the "Fifth Amendment") with Meridian Bank.  Pursuant to the Fifth
Amendment, the following amendments were made to the Loan Agreement:
Collateral
. 
In addition to certain existing collateral securing obligations under the note,
the Company assigned a deposit account in the amount of $450,000 to Meridian Bank
pursuant to an Assignment of Deposit Account dated as of January 30, 2012.  The
purpose of the deposit account is to fund the planned abandonment of certain
pipelines located in the Gulf of Mexico during the first and second quarter of
2013.
Guarantors
. 
GPLLC was required to execute and deliver an unlimited guaranty in favor of
Meridian Bank and became one of the "Guarantors" under the Loan Agreement.
Financial
Covenant
.  The Fifth Amendment requires that the Company maintain a debt to
tangible net worth ratio less than or equal to 3.5 to 1.0 as of the end of the
each fiscal quarter, a debt service coverage ratio greater than 1.5 to 1.0 and
a current ratio of 1.25 to 1.0.
Fees
. 
In connection with the Fifth Amendment, the Company paid Meridian Bank an
amendment fee of $3,750.
The foregoing description is qualified in its entirety by
reference to the full text of the Fifth Amendment to the Loan Agreement, which
is filed with this Current Report on Form 8-K as Exhibit 10.2.
Amendment
to Term Promissory Note
In connection with entering the Fifth Amendment, the Company
and Meridian also entered into an Amendment to Term Promissory Note effective
as of January 30, 2013 (the "Amended Term Note").  The outstanding balance of
the Amended Term Note, as of January 30, 2013, was $1,732,674.11, and it has a
maturity date of June 30, 2013.  Principal on the Amended Term Note is due and
payable in equal monthly installments of $10,000, plus all accrued interest,
with a maturity date of June 30, 2013.
The foregoing description is qualified in its entirety by
reference to the full text of the Amendment to Term Promissory
Note, which is filed with this Current Report on Form 8-K as Exhibit 10.3.
2
Paydown Letter and Full Release
In connection with the sale of the Assets, the Company and Meridian Bank entered into a paydown letter (the "Paydown Letter"), pursuant to which the Company agreed to fund a partial payoff of the term loan, reducing the outstanding principal balance owing on the term loan to $1,732,674.11.  Meridian consented to the sale of the Assets and agreed, pursuant to a full release, to release its liens on the Assets.
The foregoing description is qualified in its entirety by reference to the full text of the Paydown Letter, which is filed with this Current Report on Form 8-K as Exhibit 10.4.
Common Stock Subscription Agreement
On February 7, 2013, the Company entered into the Subscription Agreement, pursuant to which GreyCap agreed to acquire 6,250,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), constituting 20.4% of the Company's issued and outstanding Common Stock, at an aggregate purchase price of $250,000.  The closing of the transactions contemplated by the Subscription Agreement was to occur immediately following the closing of the (i) transactions contemplated by the Asset Sales Agreement and (ii) the Fifth Amendment.  The shares purchased by GreyCap were issued pursuant to an exemption under Section 4(2) of the Securities Act of 1933.
As promptly as is reasonably possible following the closing of the purchase of shares by GreyCap, the Company is required to appoint an individual identified by GreyCap,  and reasonably acceptable to the Company, to the Company's Board of Directors (the "Board").  Such appointed director will serve on the Board through the date of the Company's 2013 annual meeting of stockholders, or until a successor is duly elected and qualified.  The Company is required to use its reasonable best efforts to cause the GreyCap appointed director to be nominated to stand for election at the 2013 annual meeting of stockholders.
Pursuant to the terms of the Subscription Agreement, if the Company proposes to sell any equity securities, with certain exceptions, before February 7, 2015, GreyCap shall have the opportunity to purchase, on the same terms, at the same price and for the same consideration to be paid by the proposed buyer(s) of the additional equity securities in an amount up to the product obtained by multiplying (i) the number of equity securities being offered to the proposed buyer(s) by (ii) the lesser of (x) 20.4% or (y) a fraction, the numerator of which is the number of shares of common stock owned by GreyCap at the time and the denominator of which is the total number of issued and outstanding shares of common stock at such time.
The foregoing description is qualified in its entirety by reference to the full text of the Subscription Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.5.
Item 2.01  Completion of Acquisition or Disposition of Assets.
The disclosure set forth in the Explanatory Note regarding the Asset Sales Agreement and in Item 1.01 regarding the Subscription Agreement is incorporated into this Item 2.01 by reference.
Item 2.03  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of  Registrant.
The disclosure set forth in Item 1.01 regarding the Fifth Amendment to the Loan Agreement, the Amendment to the Term Promissory Note and the Paydown Letter and Full Release is incorporated into this Item 2.03 by reference.
Item 3.02  Unregistered Sale of Equity Securities.
The disclosure set forth in Item 1.01 regarding the Subscription Agreement is incorporated into this Item 3.02 by reference.
Item 9.01            Financial Statements and Exhibits.
10.1        Asset Sales Agreement between Gateway Pipeline USA Corporation and GEC Holding, LLC dated
December 12, 2012 (incorporated by reference to
Exhibit 10.1 to the Company's Current Report on Form 8-K filed on December 13,
2012).
3
10.2        Fifth
Amendment to Loan Agreement, dated January 30, 2013, among Gateway Energy
Corporation, Gateway Pipeline Company, Gateway Offshore Pipeline Company,
Gateway Processing Company, Gateway Energy Marketing Company, Gateway Pipeline
USA Corporation, Gateway Commerce LLC, Gateway Delmar LLC and Meridian Bank
Texas.
10.3        Amendment
to Term Promissory Note, dated January 30, 2013, between Gateway Energy
Corporation and Meridian Bank Texas.
10.4        Paydown
Letter, dated January 30, 2013, between Gateway Energy Corporation and Meridian
Bank Texas.
10.5        Common
Stock Subscription Agreement, dated February 7, 2013, between Gateway Energy
Corporation and GreyCap Energy LLC.
4
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Gateway Energy Corporation
Dated: February 13, 2013
/s/
  Frederick M. Pevow, Jr.
Frederick M. Pevow, Jr.
President and Chief
  Executive Officer