Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 72

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 72
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 million, offset by depreciation and amortization
expenses of $9.47 million and loss on disposal of equipment of $29.17 million.

38 

Accounts receivable

Cash collections on our accounts receivable had
a major impact on our overall liquidity. The following table presents the aging analysis of our accounts receivable as of June 30, 2025
and December 31, 2024.

    June 30, 2025 
    December 31, 2024

    % of total 
      
    % of total
  
    Aged 1-30 days 
    $3,150,850  
     100% 
    $419,581  
     74%
  
    Aged 31-60 days 
     —  
     —  
     144,942  
     26%
  
    Aged 61-90 days 
     —  
     —  
     —  
     — 
  
    Aged 91-120 days 
     —  
     —  
     —  
     — 
  
    Aged 121-150 days 
     —  
     —  
     —  
     — 
  
    Aged 151-180 days 
     —  
     —  
     —  
     — 
  
    Aged 181-210 days 
     —  
     —  
     —  
     — 
  
    Aged 211-240 days 
     —  
     —  
     —  
     — 
  
    Total 
    $3,150,850  
     100% 
    $564,523  
     100%

The overall accounts receivable balance as of June 30, 2025 increased
by $2,586,327, as compared to those of December 31, 2024. We have policies in place to ensure that sales are made to customers with an
appropriate credit history. We perform ongoing credit evaluation on the financial condition of our customers.

Inventory

Our inventory consists of the following:

    June 30, 2025 
    December 31, 2024

    % of total 
      
    % of total
  
    Raw materials 
    $37,545  
     7% 
    $