GULF RESOURCES, INC. 8-K

What Happened

• On June 1, 2026, Gulf Resources, Inc. announced it will amend its FY2024 Form 10-K and its Q1, Q2 and Q3 2025 Form 10-Qs to correct errors in how certain buildings were recorded. The company determined buildings without ownership certificates were previously recognized as fixed assets but should be classified as right-of-use (ROU) assets under ASC 842 (Leases).
• The restatement covers the periods included in those prior filings, including fiscal years 2023 and 2024 and the quarterly and year-to-date periods in the Q1–Q3 2025 filings. As a result, the Prior Filings should no longer be relied upon.

Key Details

• Date of determination: June 1, 2026.
• Filings to be amended: FY2024 Form 10-K and Q1, Q2, Q3 2025 Form 10-Qs (Notes 6, 7, and 12 referenced).
• Prior periods affected: fiscal years 2023 and 2024 and quarterly/YTD periods in Q1–Q3 2025.
• Company filed a Form 12b-25 notifying the SEC of a delay in completing its fiscal 2025 Form 10-K and the Form 10-Q for the quarter ended March 31, 2026.

Why It Matters

• Investors should not rely on the affected prior filings because the company is restating how certain buildings are classified, which can change the balance sheet presentation (assets and related lease obligations) and potentially affect financial ratios and comparability.
• The company is completing the restatements as soon as reasonably practical and is working on remediation of a previously identified material weakness by enhancing internal controls and providing staff training—steps that may improve future reporting reliability but indicate past weaknesses in financial reporting.