SHOUGUANG, China, Jan. 28, 2014 (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 it will file its 2013 10-K report on schedule in compliance with SEC rules.
Regarding recent news from Securities and Exchange Commission ("SEC"), "An SEC administrative law judge suspended the Chinese affiliates of the Big Four from auditing U.S. public companies for six months. The agency brought a proceeding against the firms and BDO China Dahua CPA Co. Ltd. for refusing to hand over audit documents of clients suspected of accounting fraud. The firms said they will appeal the decision."
This action will not affect Gulf Resources' 2013 10-K filing since the company changed its auditor to Morison Cogen LLP in December 2011. The company's management affirms that the company will file its 2013 10-K report on or before March 31, 2014 in compliance with SEC rules.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"). 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 & gas field explorations and as papermaking chemical agents. For more information, visit www.gulfresourcesinc.com.
Source:Gulf Resources, Inc.