Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 599

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 8
Chunk 599
---
2025.

    F-28 

GULF RESOURCES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS

DECEMBER 31, 2024

(Expressed in U.S. dollars)

SCHEDULE I – PARENT ONLY FINANCIAL INFORMATION

The following presents condensed parent company only financial
information of Gulf Resources, Inc.

Condensed Balance Sheets

     Parent Company 
    As of December 31,

    2024 
    2023
  
    Current Assets 

    Prepayments and deposits 
    $—  
    $— 
  
    Total Current Assets 
     —  
     — 
  
    Non-Current Assets 

    Interests in subsidiaries 
     83,755,560  
     144,749,406 
  
    Amounts due from group companies 
     69,821,271  
     62,288,744 
  
    Deferred tax assets, net 
     —  
     — 
  
    Total non-current assets 
     153,576,831  
     207,038,150 
  
    Total Assets 
    $153,576,831  
    $207,038,150 

    Liabilities and Stockholders’ Equity 

    Current Liabilities 

    Other payables and accrued expenses 
    $8,265,349  
    $185,042 
  
    Amounts due to related parties 
     1,462,110  
     1,462,110 
  
    Amounts due to group companies 
     142,702  
     142,702 
  
    Total Current Liability 
     9,870,161  
     1,789,854 

    Total Liabilities 
    $9,870,161  
    $1,789,854 

    Stockholders’ Equity 

    PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding 
    $—  
    $— 
  
    COMMON STOCK; $0.0005
    par value; 80,000,000
    shares authorized; 11,012,754
    shares issued; and 10,726,924
    shares outstanding as of December 31, 2024 and December 31, 2023 
     24,623