Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 84

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1B
Chunk 84
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     —  
     —  
     —  
     —  
     (2,800,874) 
     (2,800,874)
  
    Net loss for year ended December 31, 2024 
     —  
     —  
     —  
     —  
     —  
     —  
     —  
     (58,935,452) 
     —  
     —  
     (58,935,452)
  
    BALANCE AT DECEMBER
    31, 2024  
     11,012,754  
     10,726,924  
     285,830  
     24,623  
     (1,372,673) 
     194,700  
     101,688,262  
    $37,358,804  
    $26,667,097  
    $(20,854,143) 
    $143,706,670 

Common Stock

Treasury Stock

Additional Paid-In Capital

Retained Earnings Unappropriated

Accumulated Other Comprehensive Income (Loss)

Share to be Issued  

The accompanying notes are an integral
part of these consolidated financial statements.

F-5 

GULF RESOURCES, INC.

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH
FLOWS

(Expressed in U.S. dollars)

    Years Ended December 31,

    2024 
    2023
  
    CASH FLOWS FROM OPERATING ACTIVITIES 

    Net loss 
    $(58,935,452) 
    $(61,795,279)
  
    Adjustments to reconcile net income to net cash  provided by (used in) operating activities: 

    Amortization on capital lease 
     91,901  
     96,914 
  
    Depreciation and amortization 
     18,007,875  
     27,139,589 
  
    Deferred tax asset 
     1,632,978  
     3,215,727 
  
    Stock-based compensation expense 
     194,700  
     451,350 
  
    Bad debt expense 
     1,669,002  
     431 
  
    Imp