Company: GURE
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001193805-25-001627
Chunk: 60

Company: GULF RESOURCES, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 60
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, the
                                                                         Company was notified by the Nasdaq that the Company’s request to transfer the listing of its Common Stock, from The Nasdaq
                                                                         Global Select Market tier to The Nasdaq Capital Market tier has been granted, and that the Company was granted a second 180-calendar
                                                                         day period, or until November 3, 2025 (the “Second Compliance Period”), to regain compliance with the requisite bid
                                                                         price requirement, as set forth in Nasdaq Listing Rule 5550(a)(2). The transfer of the listing of the Common Shares from The Nasdaq
                                                                         Global Select Market to The Nasdaq Capital Market took effect with the open of business on May 8, 2025. The transfer is not expected
                                                                         to impact trading in the Common Shares, which will continue to trade on Nasdaq under the symbol “GURE.”

On November 12, 2025, the Company issued a press release providing
certain updates on its hearing scheduling process with the Nasdaq Hearings Panel. The Company has received a hearing notification letter
from Nasdaq scheduling an oral hearing for December 9, 2025. As of November 10, 2025, the Company’s common stock had maintained
the requisite closing bid price in compliance with Listing Rule 5550(a)(2). In light of the above and in accordance with the instructions
provided by the hearing notification letter, the Company has submitted a request to cancel the hearing, subject to the Company’s
Listing Analyst review and confirmation.

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Our current corporate structure chart is set forth in the following
diagram:

As a result of our acquisitions of SCHC and SYCI, our historical financial
statements and the information presented below reflects the accounts of SCHC, SYCI, SHSI and DCHC. The following discussion should be
read in conjunction with our condensed consolidated financial statements and notes thereto appearing elsewhere in this report.

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RESULTS OF OPERATIONS

The following table presents certain information
derived from the condensed consolidated statements of operations, cash flows and stockholders equity for the three-month and nine-month
periods ended September 30, 2025 and 2024. 

Comparison of the Three-Month Period Ended
September 30, 2025 and 2024

    Three-Month Period Ended September 30, 2025 
    Three-Month Period Ended September 30, 2024 
    Percent Change Increase/ (Decrease)
  
    Net revenue