Company: GURE
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001193805-25-000638
Chunk: 53

Company: GULF RESOURCES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part II, Item 1A
Chunk 53
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 30 consecutive business days and, as a result, the Company no longer satisfied Nasdaq Listing Rule 5450(a)(1), the minimum
bid price requirement applicable to The Nasdaq Global Select Market issuers. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company
was afforded an initial 180-calendar day grace period, through May 5, 2025, to regain compliance with the minimum bid price requirement.

Issuers
listed on The Nasdaq Global Select Market are not eligible for a second 180-day grace period under the Nasdaq Listing Rules. However,
based upon the Company’s compliance with the various criteria required under Nasdaq Listing Rule 5810(c)(3)(A)(ii) to obtain a second
180-day grace period applicable to issuers listed on The Nasdaq Capital Market, the Company applied to transfer the listing of its Common
Shares to The Nasdaq Capital Market. As noted above, the Staff approved the Company’s transfer application on May 6, 2025.

The
Company intends to closely monitor the closing bid price for its Common Shares and consider all available options to timely remedy the
bid price deficiency. If at any time during the Second Compliance Period, the closing bid price of the Common Shares is at least $1.00
per share for a minimum of 10 consecutive business days, the Staff will provide the Company with written confirmation of compliance and
the matter will be closed, unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H).

The
Company can give no assurance that it will regain or demonstrate compliance during the Second Compliance Period. If the Company is not
able to demonstrate compliance with the minimum bid price requirement by November 3, 2025, or the Company does not comply with the terms
of the extension, the Staff will provide written notification to the Company that the Common Shares will be delisted. At that time, the
Company may appeal the Staff’s determination to the Nasdaq Hearings Panel (the “ Panel”). The Company’s appeal
request would stay any delisting action by the Staff at least pending a hearing before the Panel and the expiration of any extension that
may be granted by the Panel to the Company following the hearing.

The
Company has provided written notice to Nasdaq of its intention to cure the deficiency during the Second Compliance Period by effecting
a reverse stock split, if necessary.

We
cannot assure you that we