Gulf Resources Faces Nasdaq Delisting Warning

TL;DR

Nasdaq's warning Gulf Resources: get compliant in 180 days or get booted!

AI Summary

Gulf Resources, Inc. announced on November 5, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules. The company has 180 days to regain compliance, or its securities may be delisted.

Why It Matters

This notice suggests potential liquidity issues and investor confidence concerns for Gulf Resources, Inc., which could impact its stock price and ability to raise capital.

Risk Assessment

Risk Level: medium — A delisting warning indicates significant financial or operational challenges that could negatively impact the company's stock value and future prospects.

Key Numbers

• 180 days — Compliance Period (Timeframe given by Nasdaq to regain compliance)

Key Players & Entities

• Gulf Resources, Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange where listed
• November 5, 2024 (date) — Date of notice

FAQ

Key Financial Figures

• $0.0005 — nge on which registered Common Stock, $0.0005 par value GURE NASDAQ Global Select
• $1.00 — Company's common stock had closed below $1.00 per share for the previous 34 consecuti
• $5,000 — plication, (ii) submit a non-refundable $5,000 application fee, (iii) meet the continu

Filing Documents

• e663992_8k-gulf.htm (8-K) — 26KB
• 0001193805-24-001309.txt ( ) — 197KB
• gure-20241105.xsd (EX-101.SCH) — 3KB
• gure-20241105_lab.xml (EX-101.LAB) — 33KB
• gure-20241105_pre.xml (EX-101.PRE) — 22KB
• e663992_8k-gulf_htm.xml (XML) — 4KB

01. Notice of Delisting or Failure to Satisfy a Continued

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 5, 2024, Gulf Resources, Inc., a Nevada corporation (the " Company ") received a notice in the form of a letter (" Deficiency Letter ") from the Nasdaq Listing Qualifications Department (the " Staff ") of The Nasdaq Stock Market LLC (" Nasdaq ") stating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) because the bid price for the Company's common stock had closed below $1.00 per share for the previous 34 consecutive business days (the " Minimum Bid Price Requirement "). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until May 5, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before May 5, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. In the event the Company does not regain compliance, the Company may be eligible for additional time. To qualify for the additional compliance period, the Company will be required to (i) submit, no later than the expiration date, an on-line Transfer Application, (ii) submit a non-refundable $5,000 application fee, (iii) meet the continued listing requirement for the market value of its publicly held shares and all other continued listing standards for The Nasdaq Stock Market, with the exception of the bid price requirement, and (iv) will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split if necessary. As part of its review process, the Staff will make a determination of whether they believe the Company will be able to cure this deficiency. Should the Staff conclude that the Company will not be able to cure the deficiency, or should the C

Forward Looking Statements

Forward Looking Statements Certain information contained in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "will," "would," "may," "intends," "potential," and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement during any compliance period or in the future, or otherwise meet Nasdaq compliance standards, that the Company will be eligible for a second compliance period, or that Nasdaq will grant the Company any relief from delisting as necessary or that the Company can ultimately meet applicable Nasdaq requirements for any such relief. The forward-looking statements contained in this report speak only as of the date of this report and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required by law.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GULF RESOURCES, INC. By: /s/ Min Li Name: Min Li Title: Chief Financial Officer Dated: November 6 , 2024

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View this 8-K filing on SEC EDGAR