Gulf Resources Delays Filing 10-K for 2025
Gulf Resources announced the delay in filing its 10-K for 2025 and references the 8-K filed by company on April 14. The company delayed to file the Form 10-K due to accounting adjustments required by the company and its auditors in response to SEC comments on the Annual Report on Form 10-K for the financial year ended December 31, 2024. Previously company recorded its "land, buildings and salt pans" under fixed assets, but now, the company and its auditors has will adjust those to long-term leases based on the comments from SEC. The company will then revise its 2024 10-K and incorporate these changes into its upcoming 2025 10-K. Since the company has changed Auditors and Counsel in the past two years, all parties want to take the time to ensure the issues been addressed appropriately. Xiaobin Liu, the CEO of Gulf Resources stated, "We are working diligently to satisfy the SEC. However, we do not believe these issues will have a material impact on our business operations. As soon as the company receives a further update from the SEC, we will communicate with shareholders."
