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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gulf Resources Inc | NASDAQ:GURE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0158 | -1.03% | 1.52 | 1.02 | 2.30 | 1.6151 | 1.49 | 1.59 | 198,474 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act 1934
Date of Report (date of earliest event reported): September 13, 2019
Gulf Resources, Inc.
(Exact name of registrant as specified in charter)
Nevada
(State or other jurisdiction of incorporation)
000-20936 (Commission File Number) |
13-3637458 (IRS Employer Identification No.) |
Level 11,Vegetable Building, Industrial Park of the East Shouguang City, Shandong, China
(Address of principal executive offices and zip code)
+86 (536) 567 0008
(Registrant's telephone number including area code)
(Registrant's former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Stock, $0.0005 par value | GURE | NASDAQ Global Select Market |
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On September 13, 2019, Gulf Resources, Inc. (the “Company”) received a staff deficiency notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that it has failed to comply with Nasdaq’s shareholder approval requirements set forth in Listing Rule 5635(c) (the “Rule”). In January 2019, the Company issued 20,000 shares of its common stock from treasury shares to a consultant for strategic investment and investor relations consulting services (the “Equity Grant”). The shares were not issued from a shareholder approved equity compensation plan and the Company did not receive shareholder approval for the Equity Grant. The Company is continuing to review its internal records relating to prior issuances, and as information becomes available regarding any shares issued in similar circumstances, the Company will notify Nasdaq.
The Company has until October 28, 2019 to submit a plan to regain compliance If the plan is accepted, Nasdaq can grant an extension of up to one hundred eighty calendar days from September 13, 2019 to evidence compliance. The Company is currently doing everything possible to cure its deficiencies regarding the Rule.
2
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: September 19, 2019
3
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