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Gulf Resources Announces Receipt of Nasdaq Non-Compliance Notice
SHOUGUANG, China, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (NASDAQ: GURE) (“Gulf Resources” or the “Company”), a leading manufacturer of
About this update from Gulf Resources, Inc.
[{"type":"text","content":"SHOUGUANG, China, Aug. 22, 2024 (GLOBE NEWSWIRE) -- 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 on August 20, 2024, it received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that due to the Company’s failure to timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2024, with the Securities and Exchange Commission (the “SEC”), the Company is not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which requires the timely filing of all required periodic reports with the SEC. The Notice indicates that as a result of this additional delinquency, the Company must submit an update to its original plan to regain compliance with respect to the filing requirements. The Company has until September 4, 2024 to submit such update to Nasdaq. As previously disclosed on a Current Report on Form 8-K of the Company filed on April 19, 2024, the Company received a notice (the “Initial Notice”) from Nasdaq on April 18, 2024 notifying the Company that due to the Company’s failure (the “Initial Delinquent Filing”) to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Form 10-K”), with the SEC, the Company is not in compliance with the Rule. Subsequently, as previously disclosed on a Current Report on Form 8-K filed with the SEC by the Company on May 22, 2024, the Company received a notice (the “May Notice”) from Nasdaq due to the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the “Form 10-Q,” together with the Form 10-K, the “Delinquent Reports”). The May Notice states that the Company has until June 17, 2024 to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. Further, as previously disclosed on a Current Report on Form 8-K of the Company filed with the SEC on July 2, 2024, the Company received a letter from Nasdaq on June 26, 2024 indicating that, based on its further review and the plan of compliance submitted by the Company on June 14, 2024, Nasdaq has determined to grant an exception to enable the Company to regain complianc...