Gulf Resources Files Form 12b-25
March 30 2020 - 4:45PM
Gulf Resources, Inc. (NASDAQ:GURE) ("Gulf Resources" or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China today announced that it has
filed a Form 12b-25 to the Securities and Exchange Commission in
order to extend the due date of its annual report on Form 10-K for
fiscal 2019 (the “Annual Report”) for fifteen days, as permitted by
Rule 12b-25 under the Securities Exchange Act of 1934.
In its filing the Company has advised that the Annual Report
could not be filed within the prescribed time period due to the
fact that the Company was unable to finalize its financial results
due to the coronavirus disease 2019 (COVID-19) pandemic.
Specifically, the Company’s receipt of information from certain
third parties related to the completion of its audit has been
delayed; in addition, the Company’s personnel responsible for its
financial reporting function had been adversely affected due to the
city lockdown measures in China. As a result, the Company could not
solicit and obtain the necessary review of the Annual Report in a
timely fashion prior to the due date of the Annual Report. The
Company will file the Annual Report on or before the expiration of
the fifteen day extension period, or by April 14, 2020.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through three
wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company
Limited ("SCHC"), Shouguang Yuxin Chemical Industry Co., Limited
("SYCI"), and Daying County Haoyuan Chemical Company Limited
(“DCHC”). The company believes that it is one of the largest
producers of bromine in China. Elemental Bromine is used to
manufacture a wide variety of compounds utilized in industry and
agriculture. Through SYCI, the Company manufactures chemical
products utilized in a variety of applications, including oil and
gas field explorations and papermaking chemical agents, and
materials for human and animal antibiotics. DCHC was established to
further explore and develop natural gas and brine resources
(including bromine and crude salt) in China. For more information,
visit www.gulfresourcesinc.com.
Forward-Looking Statements
Certain statements in this news release contain
forward-looking information about Gulf Resources and its
subsidiaries business and products within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. The actual results may differ materially depending on
a number of risk factors including, but not limited to, the general
economic and business conditions in the PRC, future product
development and production capabilities, shipments to end
customers, market acceptance of new and existing products,
additional competition from existing and new competitors for
bromine and other oilfield and power production chemicals, changes
in technology, the ability to make future bromine asset purchases,
and various other factors beyond its control. All forward-looking
statements are expressly qualified in their entirety by this
Cautionary Statement and the risks factors detailed in the
company's reports filed with the Securities and Exchange
Commission. Gulf Resources undertakes no duty to revise or update
any forward-looking statements to reflect events or circumstances
after the date of this release.
CONTACT: Gulf Resources, Inc.
Web: |
http://www.gulfresourcesinc.com |
|
Director of
Investor Relations |
|
Helen Xu
(Haiyan Xu) |
|
beishengrong@vip.163.com |
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