Company: GURE
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001193805-25-001627
Chunk: 30

Company: GULF RESOURCES, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 30
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 )
  
    Operating lease liabilities, net of current portion

    $
    6,436,276

    $
    6,941,602

The weighted average remaining operating lease
term at September 30, 2025 was 17 years and the weighted average discounts
rate was 4.89%. Lease payments for the three-month period ended September 30, 2025 and 2024, respectively, were $79,507 and $66,387. Lease
payments for the nine-month period ended September 30, 2025 and 2024, respectively, were $824,305 and $823,608.

Maturities of lease liabilities were as follows:

Lease Liabilities - Finance and Operating
Lease - Schedule of Financing and Operating Lease Maturities

    Financial lease 
    Operating Lease
  
    Payable within: 

    the next 12 months 
    $264,169  
    $835,363 
  
    the next 13 to 24 months 
     264,169  
     843,018 
  
    the next 25 to 36 months 
     264,169  
     847,583 
  
    the next 37 to 48 months 
     264,169  
     855,754 
  
    the next 49 to 60 months 
     264,169  
     860,686 
  
    thereafter 
     —  
     7,516,688 
  
    Total 
     1,320,845  
     11,759,092 
  
    Less: Amount representing interest 
     (214,129) 
     (4,804,602)
  
    Present value of net minimum lease payments 
    $1,106,716  
    $6,954,490 

    11 

GULF RESOURCES, INC.

AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

 (Expressed in U.S. dollars)

(UNAUDITED)

NOTE 13 ––EQUITY

Reverse Stock Split and Authorized Shares

On October 27, 2025, the Company completed a 1-for-10
reverse stock split of the company’s common stock, such that for each ten shares outstanding prior to the stock split there was
one share outstanding after the