Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 125

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1B
Chunk 125
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 Ended December 31,

    2024 
    2023
  
    OPERATING EXPENSES 

    General and administrative expenses 
    $(742,480) 
    $(780,379)
  
    TOTAL OPERATING EXPENSES 
     (742,480) 
     (780,379)
  
    OTHER EXPENSES 

    Interest expense 
     —  
     — 
  
    TOTAL OTHER EXPENSES 
     —  
     — 
  
    TOTAL EXPENSES 
     (742,480) 
     (780,379)
  
    Equity in net Loss of subsidiaries 
     (59,841,154) 
     (61,014,900)
  
    LOSS BEFORE INCOME TAXES 
     (58,935,452) 
     (61,795,279)
  
    INCOME TAXES 
     —  
     — 
  
    NET LOSS 
    $(58,935,452) 
    $(61,795,279)

Condensed Statements of Cash Flows

    Years Ended December 31,

    2024 
    2023
  
    CASH FLOWS FROM OPERATING ACTIVITIES 

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

    Equity Loss in unconsolidated subsidiaries 
     59,841,154  
     61,014,900 
  
    Stock-based compensation expense-options 
     —  
     451,350 
  
    Shares issued from treasury stock for services 
     —  
     — 
  
    Changes in assets and liabilities: 
     —  
     — 
  
    Other payables and accrued expenses 
     1,251,357  
     (23,152)
  
    Net cash used in operating activities 
     (345,655) 
     (352,181)
  
    CASH FLOWS FROM FINANCING ACTIVITIES 

    Advances from group companies 
     345,655  
     352,181 
  
    Net cash provided by financing activities 
     345,655  
     352,181 
  
    NET INCREASE IN CASH AND CASH EQUIVALENTS 
     —