Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 110

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1B
Chunk 110
---
 the historical option exercise pattern.

For the year ended December 31,
2024 and 2023, total compensation costs for options issued recorded in the consolidated statement of comprehensive income (loss) were
$0 and $0. There were no related tax benefits as a full valuation allowance was recorded in the years ended December 31, 2024 and 2023.

    F-20 

GULF RESOURCES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS

DECEMBER 31, 2024

(Expressed in U.S. dollars)

NOTE 15 – STOCK-BASED COMPENSATION – Continued

The following table summarizes all Company stock option
transactions between January 1, 2024 and December 31, 2024.

Stock-Based Compensation - Schedule of Stock
Option Activity

     Number
of Option and Warrants Outstanding and exercisable  
     Weighted-
Average Exercise price of Option and
Warrants  
       Range
of Exercise Price per Common Share 
  
    Balance, January 1, 2024 
     —  
    $—  
    $— 
  
    Exercised 
     —  
    $—  
    $— 
  
    Expired 
     —  
     —  
     — 
  
    Balance, December 31, 2024 
     —  
     —  
     — 

    Stock and Warrants Options Exercisable and Outstanding 

     Outstanding at December 31, 2024  
     Range of Exercise Prices  
     Weighted Average Remaining Contractual Life (Years) 

    Exercisable and outstanding 
     —  
     —  
     — 

All options exercisable and outstanding at December 31,
2024 are fully vested. As of December 31, 2024, there was no unrecognized compensation cost related to outstanding stock options,

The aggregate intrinsic value of options outstanding and
exercisable as of December 31, 2024 and 2023 was $0 and $0.

    F-21 

GULF RESOURCES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS

DECEMBER 31, 2024

(Expressed in U.S. dollars)

NOTE