What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-09-30 compared with 2026-09-30 · 801 added, 1045 removed, 1096 unchanged (63% of the section changed)

1 unchanged sentence

RESOURCES, INC.

AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

receivable, net

and deposits, net

due from related parties

March 31, 2025

(Unaudited) (Restated)

December 31, 2024

(Audited) (Restated)

Current Assets

plant and equipment, net

lease right-of-use assets

land leases, net of current portion

tax assets, net

Accounts receivable, net

Inventories, net

Prepayments and deposits, net

Amount due from related parties

Other receivable

Total Current Assets

Non-Current Assets

and Stockholders’ Equity

payable and accrued expenses

payable-current

due to related parties

lease liabilities, current portion

Property, plant and equipment, net

Finance lease right-of-use assets

Operating lease right-of-use assets

Prepaid land leases, net of current portion

Deferred tax assets, net

Total non-current assets

Liabilities and Stockholders’ Equity

Current Liabilities

lease liabilities, net of current portion

Accounts payable and accrued expenses

Taxes payable-current

Amount due to related parties

Finance lease liabilities, current portion

Operating lease liabilities,

current portion

Total Current Liabilities

Non-Current Liabilities

and Loss Contingencies

Stockholders’

Finance lease liabilities, net of current portion

Operating lease liabilities, net of current

Total Non-Current Liabilities

Total Liabilities

Commitment and Loss Contingencies

Stockholders’ Equity

PREFERRED STOCK;

$ 0.001 par value;

1 unchanged sentence

none outstanding

80,000,000 shares

COMMON STOCK;

shares authorized;

and 1,120,145

1,120,145 shares

and 1,353,531 and

1,091,562 shares

outstanding as of June 30, 2025 and December 31, 2024 (1)

shares issued;

and 1,353,531

and 1,091,562

shares outstanding as of March 31, 2025 and December 31, 2024 (1)

Treasury stock;

shares as of June 30, 2025 and December 31, 2024 at cost

28,583 shares as of March 31, 2025 and December 31,

( 1,372,673 )

paid-in capital (1)

earnings unappropriated

earnings appropriated

other comprehensive loss

Additional paid-in capital (1)

Share to be issued

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive

( 20,534,397 )

( 20,783,318 )

Total Stockholders’

Total Liabilities and

Stockholders’ Equity

Liabilities and Stockholders’ Equity

$ 164,092,339

4 unchanged sentences

RESOURCES, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

2025 (Restated)

2024 (Restated)

2025 (Restated)

2024 (Restated)

Period Ended June 30,

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

2025(Restated)

2024(Restated)

Period Ended March 31,

2025(Restated)

2024(Restated)

COSTS AND EXPENSE

OPERATING COSTS AND EXPENSE

Cost of revenue

1 unchanged sentence

( 2,119,845 )

( 8,964,166 )

( 7,231,903 )

and marketing expenses

labor and factory overheads incurred during plant shutdown

( 1,714,503 )

Sales and marketing expenses

Direct labor and factory

overheads incurred during plant shutdown

( 3,225,808 )

2 unchanged sentences

( 1,427,009 )

( 2,452,789 )

( 1,407,428 )

OPERATING COSTS AND EXPENSE

( 9,135,058 )

( 7,530,166 )

( 15,390,392 )

( 14,106,647 )

FROM OPERATIONS

( 5,146,997 )

( 5,442,160 )

( 10,416,416 )

INCOME (EXPENSE)

on disposal of property, plant and equipment

( 29,169,008 )

OTHER INCOME, NET

( 29,159,031 )

( 29,151,804 )

BEFORE INCOME TAXES

( 34,306,028 )

( 5,484,544 )

( 39,568,220 )

TAX BENEFIT (EXPENSE)

$ ( 814,364 )

TOTAL OPERATING COSTS AND EXPENSE

( 6,255,334 )

( 6,576,481 )

LOSS FROM OPERATIONS

( 4,650,887 )

COMPREHENSIVE

( 5,269,419 )

OTHER INCOME (EXPENSE)

Interest expense

Interest income

TOTAL OTHER INCOME, NET

LOSS BEFORE INCOME TAXES

( 4,670,180 )

( 5,262,192 )

INCOME TAX (EXPENSE) BENEFIT

$ ( 4,670,180 )

Foreign currency translation adjustments

$ ( 3,992,132 )

2 unchanged sentences

$ ( 3,992,132 )

OTHER COMPREHENSIVE INCOME (LOSS)

- Foreign currency translation

TOTAL COMPREHENSIVE LOSS

$ ( 4,421,259 )

$ ( 4,385,999 )

AND DILUTED LOSS PER SHARE(1):

AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES(1):

BASIC AND DILUTED LOSS PER SHARE (1) :

BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF

(1) The shares and

2 unchanged sentences

RESOURCES, INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY SIX-MONTH PERIOD ENDED JUNE 30, 2025

outstanding(1)

of treasury stock(1)

unappropriated

comprehensive

outstanding(1)

of treasury stock(1)

unappropriated

comprehensive

BALANCE AT MARCH 31, 2025 (Unaudited)(Restated)

$ ( 1,372,673 )

$ 105,192,535

$ ( 20,534,397 )

$ 141,676,957

Currency translation adjustment

Net loss for three-month period ended June 30, 2025

BALANCE AT JUNE 30, 2025 (Unaudited)(Restated)

$ ( 1,372,673 )

$ 105,192,535

$ ( 20,146,347 )

$ 141,250,643

outstanding((1)

Retained earnings

unappropriated

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

PERIODS ENDED MARCH 31, 2025 AND 2024

comprehensive

Outstanding (1)

Retained earnings

unappropriated

comprehensive

BALANCE AT MARCH 31, 2024 (Unaudited)(Restated)

$ ( 1,372,673 )

$ 101,712,325

$ ( 18,447,136 )

$ 200,862,297

Currency translation adjustment

Net loss for three-month period ended June 30, 2024

( 33,097,918 )

BALANCE AT JUNE 30, 2024 (Unaudited) (Restated)

$ ( 1,372,673 )

$ 101,712,325

$ ( 19,296,390 )

AT DECEMBER 31, 2024 (Audited) (Restated)

$ ( 1,372,673 )

RESOURCES, INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY SIX-MONTH PERIOD ENDED JUNE 30, 2025 (CONTINUED)

outstanding(1)

of treasury stock(1)

unappropriated

comprehensive

outstanding(1)

of treasury stock(1)

unappropriated

comprehensive

BALANCE AT DECEMBER 31, 2024 (Audited)(Restated)

$ 101,712,325

4 unchanged sentences

Currency translation adjustment

Net loss for six-month period ended June 30, 2025

Net loss for three-month period ended March

( 4,670,180 )

BALANCE AT JUNE 30, 2025 (Unaudited)(Restated)

BALANCE AT MARCH 31, 2025 (Unaudited)

$ ( 1,372,673 )

2 unchanged sentences

$ 141,676,957

outstanding(1)

Retained earnings

unappropriated

comprehensive

outstanding (1)

Retained earnings

unappropriated

comprehensive

BALANCE AT DECEMBER 31, 2023 (Audited) (Restated)

BALANCE AT DECEMBER 31, 2023

(Audited) (Restated)

$ ( 1,372,673 )

3 unchanged sentences

Currency translation adjustment

( 1,243,121 )

Net loss for six- month period ended June 30, 2024

( 37,090,050 )

Net loss for three-month period ended March

( 3,992,132 )

BALANCE AT JUNE 30, 2024 (Unaudited)(Restated)

BALANCE AT MARCH 31, 2024(Unaudited) (Restated)

$ ( 1,372,673 )

9 unchanged sentences

2024(Restated)

Period Ended June 30,

Period Ended March 31,

2025(Restated)

2024(Restated)

FLOWS FROM OPERATING ACTIVITIES

$ ( 5,484,544 )

$ ( 37,090,050 )

to reconcile net loss to net cash provided by (used in) operating activities:

Amortization on capital lease

and amortization

CASH FLOWS FROM OPERATING ACTIVITIES

$ ( 4,670,180 )

compensation expense

of operating lease right-of-use assets

of finance lease right-of-use assets

on disposal of property, plant and equipment

in assets and liabilities:

$ ( 3,992,132 )

Adjustments to reconcile net loss to net cash

provided by (used in) operating activities:

Amortization on

capital lease

Depreciation and amortization

Deferred tax asset

( 1,270,060 )

from customers

and other payable and accrued expenses

Stock-based compensation

Amortization of operating

lease right-of-use assets

Amortization of finance

lease right-of-use assets

Changes in assets and liabilities:

Accounts receivable

( 1,549,443 )

Prepayments and deposits

Advance from customers

Other receivables

Accounts and other payable

and accrued expenses

Taxes payable

cash used in operating activities

( 1,580,128 )

FLOWS FROM INVESTING ACTIVITIES

of property, plant and equipment

( 1,330,476 )

cash used in investing activities

( 28,923,642 )

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment

cash provided by (used in) investing activities

FLOWS FROM FINANCING ACTIVITIES

of finance lease obligation

( 31,866,665 )

cash used in financing activities

( 31,866,665 )

OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

DECREASE IN CASH AND CASH EQUIVALENTS

Repayment of finance leases obligation

cash provided by (used in) financing activities

EFFECTS OF EXCHANGE RATE

CHANGES ON CASH AND CASH EQUIVALENTS

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

( 1,552,117 )

( 1,462,098 )

AND CASH EQUIVALENTS - BEGINNING OF PERIOD

AND CASH EQUIVALENTS - END OF PERIOD

CASH AND CASH EQUIVALENTS

- BEGINNING OF PERIOD

CASH AND CASH EQUIVALENTS

- END OF PERIOD

RESOURCES, INC.

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

Ended June 30,

DISCLOSURE OF CASH FLOW INFORMATION

paid during the six-month period ended June 30, 2025 for:

DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES

Ended March 31,

2025(Restated)

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid during the three-month period ended

March 31, for:

Paid for taxes

Interest paid

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING

AND FINANCING ACTIVITIES

accompanying notes to the condensed consolidated financial statements.

20 unchanged sentences

Company assesses its liquidity by monitoring cash and cash equivalents, as well as operating and capital expenditure commitments.

of June 30, 2025, the Company had current assets of $ 20.28 million and current liabilities of $ 10.00 million.

of March 31, 2025, the Company had current assets of $ 17.64 million and current liabilities of $ 10.47 million.

As a result, the surplus

was $ 10.28 million, but it has suffered losses for the six months ended by June 30, 2025.

was $ 7.17 million, but it has suffered losses for the three months ended by March 31, 2025.

If it is unable to raise additional funds,

9 unchanged sentences

assets, classification, and amounts and classification of liabilities if the Company is unable to continue operations.

of the Business

Company manufactures and trades bromine through its wholly-owned subsidiary, Shouguang City Haoyuan Chemical Company Limited (“SCHC”)

manufactures and trades crude salt through its wholly-owned subsidiary, SHSI;

and manufactures chemical products for use in the oil industry,

pesticides, paper manufacturing industry and for human and animal antibiotics through its wholly- owned subsidiary, Shouguang Yuxin Chemical

Industry Co., Limited (“SYCI”) in the People’s Republic of China (“PRC”).

DCHC was established to further

explore and develop natural gas and brine resources (including bromine and crude salt) in the PRC.

DCHC commenced trial operation in

January 2019 but temporarily suspended its production in May 2019, as required by the government to obtain project approval (see Note

;manufactures and trades crude salt through its wholly-owned subsidiary, Shouguang Hengde Salt Industry Co.

Ltd (“SHSI”);

and manufactures chemical products for use in the oil industry, pesticides, paper manufacturing industry and for human and animal antibiotics

through its wholly-owned subsidiary, Shouguang Yuxin Chemical Industry Co., Limited (“SYCI”) in the People’s Republic

of China (“PRC”).

Daying County Haoyuan Chemical Company Limited (“DCHC”) was established to further explore

and develop natural gas and brine resources (including bromine and crude salt) in the PRC.

DCHC’s business commenced trial operation

in January 2019 but suspended production temporarily in May 2019, as required by the government to obtain project approval (see Note 1

and Crude Salt Segments

1 unchanged sentence

9 passed inspection and could resume operations.

In April 2019, Factory No.

1, and Factory No.

7 resumed operation.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

In April 2019, Factory No.1, and Factory No.7 resumed operation.

November 25, 2019, the government of Shouguang City issued a notice ordering all bromine facilities in Shouguang City, including the

3 unchanged sentences

2019to February 10, 2020.

Subsequently, due to the coronavirus outbreak in China, the local government ordered those bromine facilities to

postpone the commencement of production.

Subsequently, the Company received an approval dated February 27, 2020 issued by the local governmental

authority allowing the Company to resume production after the winter temporary closure.

Further, the Company received another approval

from the Shouguang Yangkou People’s Government dated March 5, 2020 allowing the Company to resume production at its bromine factories

9 in order to meet the needs of bromide products for epidemic prevention and control (the “March 2020

Subsequently, due to the coronavirus outbreak in China, the local government ordered those bromine

facilities to postpone the commencement of production.

Subsequently, the Company received an approval dated February 27, 2020 issued

by the local governmental authority allowing the Company to resume production after the winter temporary closure.

Company received another approval from the Shouguang Yangkou People’s Government dated March 5, 2020 allowing the Company to

resume production at its bromine factories No.

4, No.7 and No.

9 in order to meet the needs of bromide products for epidemic

prevention and control (the “March 2020 Approval”).

The Company’s Factories No.

7 commenced trial production in mid-March 2020 and commercial production

on April 3, 2020 and its Factories No.

9 commenced commercial production on May 6, 2020.

The Company received verbal notification

from the government regarding Factory No.

8, allowing it to recommence production in August 2022.

8 began contributing revenue

in the fourth quarter of 2022.

Company is still waiting for governmental approval for Factories No.

To our knowledge, the government is currently completing

its planning process for all mining areas including that for prevention of flood.

As a result, we may be required to make some modifications

to our current wells and aqueducts prior to commencement of operations of these factories to satisfy the local government’s requirements.

7 commenced trial

production in mid-March 2020 and commercial production on April 3, 2020 and its Factories No.

9 commenced commercial

production on May6, 2020.

The Company received verbal notification from the government regarding Factory No.

8, allowing it to

recommence production in August 2022.

8 began contributing revenue in the fourth quarter of 2022.

The Company is still

waiting for governmental approval for Factories No.

To our knowledge, the government is currently completing its

planning process for all mining areas including that for prevention of flood.

As a result, we may be required to make some

modifications to our current wells and aqueducts prior to commencement of operations of these factories to satisfy the local

government’s requirements.

April 2022, Shouguang Hengde Salt Industry Co.

4 unchanged sentences

However, the establishment of this subsidiary has resulting in a reallocation of costs between bromine and crude salt.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

(ii) Chemical

19 unchanged sentences

On February 22, 2022, the Company announced that

discussions with the government have convinced management that the electricity restrictions were eased.

Accordingly, the Company contacted

its suppliers and expected to have the remainder of the equipment produced and delivered, so the Company can complete installation and

begin testing and trial production.

discussions with the government have convinced management that the electricity restrictions are being eased.

Accordingly, the Company

has contacted its suppliers and expected to have the remainder of the equipment produced and delivered, so the Company can complete installation

and begin testing and trial production.

Company estimates this relocation process will cost approximately $ 69 million in total.

2 unchanged sentences

costs and installation costs incurred for the new chemical factory in the amount of $ 45,584,344 and $ 45,584,344 , which were recorded

in the property, plant and equipment in the consolidated balance sheets as of June 30, 2025 and December 31, 2024.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

in the property, plant and equipment in the consolidated balance sheets as of March 31, 2025 and December 31, 2024.

Company suspended the construction in the chemical factory until it decide what products can be produced most profitably.

(iii) Natural

January 2017, the Company completed the first brine water and natural gas well field construction in Daying located in SichuanProvince,

January 2017, the Company completed the first brine water and natural gas well field construction in Daying located in Sichuan Province,

China, and commenced trial production in January 2019.

30 unchanged sentences

for Doubtful Accounts

make estimates of the uncollectibility of accounts receivable, especially analyzing accounts receivable and historical bad debts, customer

make estimates of the uncollectability of accounts receivable, especially analyzing accounts receivable and historical bad debts, customer

concentrations, customer credit-worthiness, current economic trends and changes in customer payment terms, when evaluating the adequacy

10 unchanged sentences

and Commercial Bank of China Limited, China Merchants Bank Company Limited and Sichuan Rural Credit Union, which are not insured or otherwise

The Company placed $ 7,736,081 and $ 10,075,162 with these institutions as of June 30, 2025 and December 31, 2024, respectively.

The Company placed $ 8,523,045 and $ 10,075,162 with these institutions as of March 31, 2025 and December 31, 2024, respectively.

The Company has not experienced any losses in such accounts in the PRC.

Concentrations

of credit risk with respect to accounts receivable exists as the Company sells a substantial portion of its products to a limited number

of customers.

However, such concentrations of credit risks are limited since the Company performs ongoing credit evaluations of its customers’

financial condition and extends credit terms as and when appropriate.

RESOURCES, INC.

5 unchanged sentences

Expenditures for new facilities or equipment,

and major expenditures for betterment of existing facilities or equipment are capitalized and depreciated, when available for intended

use, using the straight-line method at rates sufficient to depreciate such costs less 5% residual value over the estimated productive

All other ordinary repair and maintenance costs are expensed as incurred.

and major expenditures for betterment of existing facilities or equipment are capitalized and depreciated using the straight-line method

at rates sufficient to depreciate such costs less 5% residual value over the estimated productive lives.

All other ordinary repair and

maintenance costs are expensed as incurred.

rights are recorded at cost less accumulated depreciation and any impairment losses.

6 unchanged sentences

process, are as follows:

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT

and machinery (including protective shells, transmission channels and ducts)

fixtures and equipment

OF PROPERTY PLANT AND EQUIPMENT

Mineral rights

Leasehold improvements

Plant and machinery (including protective shells,

transmission channels and ducts)

Motor vehicles

Furniture, fixtures and equipment

oil and gas properties are depreciated on a unit-of-production basis over the proved developed reserves.

Common facilities that are built

specifically to service production directly attributed to designate oil and gas properties are depreciated based on the proved developed

specifically to service production directly attributed to designated oil and gas properties are depreciated based on the proved developed

reserves of the respective oil and gas properties on a pro-rata basis.

23 unchanged sentences

accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-10-35

35 ”Impairment or Disposal of Long-lived Assets” , long-lived assets to be held and used are analyzed for impairment

whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable or that the useful

lives of those assets are no longer appropriate.

The Company evaluates at each balance sheet date whether events and circumstances have

occurred that indicate possible impairment.

Company determines the existence of such impairment by measuring the expected future cash flow (undiscounted and without interest charges)

“Impairment or Disposal of Long-lived Assets” , long-lived assets to be held and used are analyzed for impairment whenever

events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable or that the useful lives

of those assets are no longer appropriate.

The Company evaluates at each balance sheet date whether events and circumstances have occurred

that indicate possible impairment.

Company determines the existence of such impairment by measuring the expected future cash flows (undiscounted and without interest charges)

and comparing such amount to the carrying amount of the assets.

5 unchanged sentences

amount of the long-lived asset that will be sold or disposed of to their estimated fair values.

Charges for asset impairment reduce the

carrying amount of the long-lived assets to their estimated salvage value in connection with the decision to dispose of such assets.

the three and six months periods ended June 30, 2025 and 2024, the Company determined that there were no events or circumstances indicating

possible impairment of its long-lived assets.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

Charges for the asset impairment reduce

the carrying amount of the long-lived assets to their estimated salvage value in connection with the decision to dispose of such assets.

the three-month periods ended March 31, 2025 and 2024, the Company determined that there were no events or circumstances indicating possible

additional impairment of its long-lived assets.

(k) Retirement

2 unchanged sentences

The Company makes contributions to the retirement plan at the applicable rate based on the employees’

The required contributions under the retirement plans are charged to the condensed consolidated statement of comprehensive

income (loss) on an accrual basis when they are due.

The Company’s contributions totaled $ 123,099 and $ 100,290 for the three- month

periods ended June 30, 2025 and 2024, respectively, and totaled $ 296,584 and $ 223,413 for the six-month periods ended June 30, 2025 and

2024, respectively.

The required contributions under the retirement plans are charged to the condensed consolidated statement of income on an accrual

basis when they are due.

The Company’s contributions totaled $ 173,485 and $ 123,123 for the three-month periods ended March 31,

2025 and 2024, respectively.

Company follows FASB ASC 805 “Business Combinations” that certain mineral rights are considered tangible assets and that

1 unchanged sentence

Mineral rights are included in property, plant and equipment.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

Company determines if an arrangement is a lease at inception.

47 unchanged sentences

Revenue from contracts with customers is disaggregated in

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

and Diluted Earnings per Share of Common Stock

earnings per common stock are based on the weighted average number of shares outstanding during the periods presented.

Diluted earnings

per share are computed using weighted average number of common stocks plus dilutive common stock equivalents outstanding during the period.

Potential common stocks that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive, i.e.

the exercise prices of the outstanding stock options were greater than the market price of the common stock.

and Diluted Net Income per Share of Common Stock

Basic earnings per common stock are based on the weighted average number

of shares outstanding during the periods presented.

Diluted earnings per share are computed using weighted average number of common stocks

plus dilutive common stock equivalents outstanding during the period.

Potential common stocks that would have the effect of increasing

diluted earnings per share are considered to be anti-dilutive, i.e.

the exercise prices of the outstanding stock options were greater

than the market price of the common stock.

Anti-dilutive common stock

equivalents which were excluded from the calculation of number of dilutive common stock equivalents amounted to 0 and 0 shares for the

six-month periods ended June 30, 2025 and 2024, respectively.

the Company reported a net loss for the six-month periods ended June 30, 2025 and 2024, common stock equivalents including stock options

three-month periods ended March 31, 2025 and 2024, respectively.

the Company reported a net loss for the three-month periods ended March 31, 2025 and 2024, common stock equivalents including stock options

and warrants were anti-dilutive, therefore the amounts reported for basic and diluted loss per share were the same.

12 unchanged sentences

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

(s) Stock-based

Stock-based Compensation

awards issued to employees are recorded at their fair values estimated at grant date using the Black-Scholes model and the portion that

5 unchanged sentences

Company has elected to account for the forfeiture of stock-based awards as they occur.

Contingencies

Loss Contingencies

Company accrues for loss contingencies relating to legal matters, including litigation defense costs, claims and other contingent matters,

9 unchanged sentences

method of accounting for deferred income taxes.

Under this method, deferred income taxes are recorded to reflect the tax consequences

on future years of temporary differences between the tax basis of assets and liabilities and their reported amounts at each period end.

Deferred tax assets and liabilities are measured using tax rates that are expected to apply to taxable income for the years in which

those tax assets and liabilities are expected to be realized or settled.

The deferred income tax effects of a change in tax rates are

recognized in the period of enactment.

If it is more likely than not that some portion or all of a deferred tax asset will not be realized,

a valuation allowance is recognized.

The guidance also provides criteria for the recognition, measurement, presentation and disclosures

of uncertain tax positions.

A tax benefit from an uncertain tax position may be recognized if it is “more likely than not”

that the position is sustainable based solely on its technical merits.

Interests and penalties associated with unrecognized tax benefits

are included within the (benefit from) provision for income tax in the consolidated statement of comprehensive income (loss).

Accounting Pronouncements

Under this method, deferred income taxes are recorded to reflect the tax

consequences on future years of temporary differences between the tax basis of assets and liabilities and their reported amounts at

each period end.

Deferred tax assets and liabilities are measured using tax rates that are expected to apply to taxable income for

the years in which those tax assets and liabilities are expected to be realized or settled.

The deferred income tax effects of a

change in tax rates are recognized in the period of enactment.

If it is more likely than not that some portion or all of a deferred

tax asset will not be realized, a valuation allowance is recognized.

The guidance also provides criteria for the recognition,

measurement, presentation and disclosures of uncertain tax positions.

A tax benefit from an uncertain tax position may be recognized

if it is “more likely than not” that the position is sustainable based solely on its technical merits.

Interests and

penalties associated with unrecognized tax benefits are included within the (benefit from) provision for income tax in the

consolidated statement of comprehensive income (loss).

New Accounting Pronouncements

June 2016, the FASB issued ASU No.

2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on

Financial Instruments.

The amendments in this Update affect loans, debt securities, trade receivables, and any other financial assets

that have the contractual right to receive cash.

The ASU requires an entity to recognize expected credit losses rather than incurred

losses for financial assets.

For public entities, the amendments are effective for fiscal years beginning after December 15, 2019, including

interim periods within those fiscal years.

For the Company which is a smaller reporting company, ASU No.

2019-10 extends the effective

dates for two years.

The Company had evaluated the effect of the adoption of this standard on the consolidated financial statements and

related disclosures.

And the Company had adopted this standard beginning January 1, 2024.

accounting pronouncements adopted.

were no recent accounting pronouncements adopted during the six months ended June 30, 2025.

Recently Issued Accounting Pronouncements

Not Yet Adopted

were no recently issued accounting pronouncements not yet adopted during the six months ended June 30, 2025.

Value Measurement

were no recent accounting pronouncements adopted during the three months ended March 31, 2025.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued

Issued Accounting Pronouncements Not Yet Adopted

June 2016, the FASB issued ASU No.

2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on

Financial Instruments.

The amendments in this Update affect loans, debt securities, trade receivables, and any other financial assets

that have the contractual right to receive cash.

The ASU requires an entity to recognize expected credit losses rather than incurred

losses for financial assets.

For public entities, the amendments are effective for fiscal years beginning after December 15, 2019, including

interim periods within those fiscal years.

For the Company which is a smaller reporting company, ASU No.

2019-10 extends the effective

dates for two years.

The Company is currently evaluating the effect of this on the condensed consolidated financial statements and related

Fair Value Measurement

Company applies Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures which defines

16 unchanged sentences

There were no material unrecognized financial assets and liabilities as of

June 30, 2025 and 2024.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2025 and December 31, 2024.

2 – ACCOUNTS RECEIVABLE, NET

SCHEDULE OF ACCOUNTS RECEIVABLE, NET

OF ACCOUNTS RECEIVABLE, NET

Accounts receivable

for doubtful debt

receivable, net

overall accounts receivable balance as of June 30, 2025 increased by $ 2,586,327 compared to those of December 31, 2024.

Accounts receivable, net

overall accounts receivable balance as of March 31, 2025 increased by $ 1,549,699 compared to those of December 31, 2024.

We have policies

in place to ensure that sales are made to customers with an appropriate credit history.

We perform ongoing credit evaluation on the financial

We perform ongoing credit evaluations on the financial

condition of our customer.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

3 – INVENTORIES, NET

SCHEDULE OF INVENTORIES

OF INVENTORIES NET

Raw materials

( 1,240,760 )

Company recorded impairment charges for slow moving inventory in the amounts of nil

for the six months ended June 30, 2025 and 2024.

Company recorded impairment charges for slow moving inventory in the amounts of $ nil and $ 989,035 for the years ended March 31, 2025

and December 31, 2024.

4 – PREPAYMENTS AND DEPOSITS, NET

and deposits consisted of the following:

SCHEDULE OF PREPAYMENTS AND DEPOSITS, NET

OF PREPAYMENTS AND DEPOSITS, NET

Prepayments and

for impairment

2 unchanged sentences

and deposits, net

of June 30, 2025, the total amount of advance payments and deposits recorded by the Company, net of impairment provisions was $ 8,743,324 .

of March 31, 2025 , the Company recorded the total prepayments and deposits, and the provision for impairment was $ 6,393,161 .

5– PREPAID LAND LEASES

Company has the rights to use certain parcels of land located in Shouguang, Shandong, PRC, through lease agreements signed with local

townships or the government authority.

The production facilities and warehouses of the Company are located on these parcels of land.

The lease term ranges from ten 10 to fifty years .

Some of the lease contracts were paid in one lump sum upfront and some are paid annually

at the beginning of each anniversary date.

These leases have no purchase option at the end of the lease term and were classified as operating

leases prior to and as of January 1, 2019 when the new lease standard was adopted.

Prior to January 2019, the prepaid land lease was

amortized on a straight line basis.

As of January 1, 2019, all the leases in which term has commenced and were in use were classified

as operating lease right-of-use assets (“ROU”).

Company has the rights to use certain parcels of land located in Shouguang, Shandong , PRC, through lease agreements signed with

local townships or the government authority.

The production facilities and warehouses of the Company are located on these parcels of

The lease term ranges from ten ten years to fifty

Some of the lease contracts were paid

in one lump sum upfront and some are paid annually at the beginning of each anniversary date.

These leases have no purchase option

at the end of the lease term and were classified as operating leases prior to and as of January 1, 2019 when the new lease standard

Prior to January 2019, the prepaid land lease was amortized on a straight-line basis.

As of January 1, 2019, all the

leases in which term has commenced and were in use were classified as operating lease right-of-use assets (“ROU”).

December 2017, the Company paid a one lump sum upfront amount of $ 8,859,000 for a 50-year lease of a parcel of land at Bohai Marine Fine

7 unchanged sentences

The amount paid was recorded as prepaid land leases, net of current portion

in the consolidated balance sheet as of June 30 2025 and December 31, 2024.

As of June 30, 2025, the prepaid land lease increased to

in the consolidated balance sheet as of March 31 2025 and December 31, 2024.

As of March 31, 2025, the prepaid land lease increased to

$ 9,217,790 due to an additional amount paid for stamp duty and related land use rights fees.

Amortization of this prepaid land lease

will commence when the chemical factory is completed and placed in service.

will commence when the chemical factory is built and placed in service.

RESOURCES, INC.

1 unchanged sentence

6 – PROPERTY, PLANT AND EQUIPMENT, NET

plant and equipment, net consist of the following:

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT

and machinery

fixtures and office equipment

Accumulated depreciation and amortization

2025 (Restated)

2024 (Restated)

Mineral rights

Leasehold improvements

Plant and machinery

Furniture, fixtures and office

Motor vehicles

Accumulated depreciation

and amortization

( 68,888,425 )

2 unchanged sentences

( 6,744,380 )

Net book value

rollforward of property, plant and equipment, net was as follows:

SCHEDULE OF ROLLFORWARD OF PROPERTY, PLANT AND EQUIPMENT

and machinery

fixtures and office equipment

Accumulated depreciation and amortization

Depreciation (a)

Mineral rights

Leasehold improvements

Plant and machinery

Furniture, fixtures and office

Motor vehicles

Accumulated depreciation

and amortization

( 65,569,186 )

5 unchanged sentences

$ ( 3,226,127 )

the three and six months period ended June 30, 2025, depreciation and amortization expense

totaled $ 3,217,980 and $ 6,444,107 , respectively, which was recorded in direct labor and factory

overheads incurred during plant shutdown, cost of revenue, and general & administrative

the three and six months period ended June 30, 2024, depreciation and amortization expense totaled $ 4,417,023

and $ 8,833,284 , respectively, which was recorded in direct

labor and factory overheads incurred during plant shutdown, cost of revenue, and general & administrative expenses.

(a) During the three-month

period ended March 31, 2025, depreciation and amortization expense totaled $ 3,226,127

were recorded in direct labor and factory overheads incurred

during plant shutdown, cost of revenue, and general & administrative expenses.

the three-month period ended March 31, 2024, depreciation and amortization expense totaled $ 4,416,261 were recorded in direct labor and

factory overheads incurred during plant shutdown, cost of revenue, and general & administrative expenses.

Note 22- Restatement, for discussion regarding the impact of the Restatement.

7 – FINANCE LEASE RIGHT-OF-USE ASSETS

plant and equipment under finance leases consist of the following:

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT

plant and equipment under finance lease, net consist of the following:

OF PROPERTY PLANT AND EQUIPMENT UNDER FINANCE LEASE, NET

2025 (Restated)

2024 (Restated)

Accumulated depreciation and amortization

1 unchanged sentence

( 19,242,775 )

Net book value

above buildings erected on parcels of land located in Shouguang, PRC, are collectively owned by local townships.

2 unchanged sentences

on the underlying parcels of land.

the three and six months period ended June 30, 2025, depreciation and amortization expense totaled $ 773,537 and $ 1,549,239 , respectively,

which was recorded in direct labor and factory overheads incurred during plant shutdown, cost of revenue, and general & administrative

the three and six months period ended June 30, 2024, depreciation and amortization expense totaled $ 313,541 and $ 627,482 , respectively,

which was recorded in direct labor and factory overheads incurred during plant shutdown, cost of revenue, and general & administrative

the three-month period ended March 31, 2025, depreciation and amortization expense totaled $ 775,702 , were recorded in direct labor and

factory overheads incurred during plant shutdown, cost of revenue, and general & administrative expenses.

the three-month period ended March 31, 2024, depreciation and amortization expense totaled $ 313,941 , were recorded in direct labor and

factory overheads incurred during plant shutdown, cost of revenue, and general & administrative expenses.

Note 22- Restatement, for discussion regarding the impact of the Restatement.

2 unchanged sentences

8 – OPERATING LEASE RIGHT-OF-USE ASSETS

Company has the rights to use certain parcels of land located in Shouguang, PRC, through lease agreements signed with local townships

Company has the rights to use certain parcels of land located in Shouguang, the PRC, through lease agreements signed with local townships

or the government authority.

2 unchanged sentences

The parcels of land of which the Company cannot obtain land use rights certificates covers a total of approximately 34.95

square kilometers at June 30, 2025.

of June 30, 2025, the total operating lease ROU assets was $ 5,937,515 .

total operating lease cost for the three-month periods ended June 30, 2025 and 2024 was $ 217,301 and $ 222,685 , respectively.

total operating lease cost for the six-month periods ended June 30, 2025 and 2024 was $ 435,102

and $ 440,030 ,

respectively.

square kilometers at March 31, 2025.

of March 31, 2025, the total operating lease ROU assets was $ 6,050,429 .

total operating lease cost for the three-month periods ended March 31, 2025 and 2024 was $ 217,801 and $ 217,345 , respectively.

9 – PAYABLE AND ACCRUED EXPENSES

and accrued expenses consist of the following:

SCHEDULE OF PAYABLE AND ACCRUED EXPENSES

security insurance contribution payable

expense for construction

OF PAYABLE AND ACCRUED EXPENSES

2025 (Restated)

2024 (Restated)

Accounts payable

Salary payable

Social security insurance

contribution payable

Accrued expense for construction

expense-others

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(the “Seller”) at a cost of approximately $ 5.7 million in cash, of which Mr.

Ming Yang, the

Chairman of the Company, had a 99 % equity interest in the Seller.

During the first quarter of 2018, the Company entered into an agreement

with the Seller, a related party, to provide property management services for an annual amount of approximately $ 86,911 for five years

from January 1, 2023 to December 31, 2027 .

The expense associated with this agreement for the three and six months ended June 30, 2025

was approximately $ 21,787 and $ 43,515 .

The expense associated with this agreement for the three and six months ended June 30, 2024 was

approximately $ 21,885 and $ 43,867 .

of related parties

Executive Officer

Financial Officer

Operating Officer

Dianjinshi Culture media Co., LTD

with company officers

SCHEDULE OF RELATED PARTY TRANSACTIONS

due to related parties:

Ming Yang, who

was the Chairman of the Company then, had a 99 % equity interest in the Seller.

During the first quarter of 2018, the Company entered

into an agreement with the Seller, a related party, to provide property management services for an annual amount of approximately $ 86,911

for five years from January 1, 2023 to December 31, 2027 .

The expense associated with this agreement for the three months ended March

31, 2025 and 2024 was approximately $ 21,728 and $ 21,982 .

Related parties

Name of related parties

Chairman Of the Board

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Chengdu Dianjinshi Culture media Co., LTD

Affiliated with company officers

OF RELATED PARTY TRANSACTIONS

Amount due to related parties:

from related party:

Dianjinshi Culture media Co., LTD

Amount due from related parties

Due from related party:

Chengdu Dianjinshi

Culture media Co., LTD

11 – TAXES PAYABLE

SCHEDULE OF TAXES PAYABLE

use tax payable

added tax and other taxes payable

OF TAXES PAYABLE

Land use tax payable

Value added tax and other

taxes payable

RESOURCES, INC.

2 unchanged sentences

components of finance lease liabilities were as follows:

SCHEDULE OF FINANCE LEASE LIABILITIES

finance lease liabilities

OF FINANCE LEASED LIABILITIES

2025(Restated)

2024(Restated)

Total finance

lease liabilities

Current portion

7 unchanged sentences

to renew the lease based on the market operation situation upon the expiration.

components of operating lease liabilities as follows:

SCHEDULE OF OPERATING LEASE LIABILITIES

components of operating lease liabilities are as follows:

OPERATING LEASE LIABILITIES

Total Operating

lease liabilities

Current portion

2 unchanged sentences

SCHEDULE OF LEASE COST

2024(Restated)

Period Ended June 30,

Amortization of right-of-use assets

Period Ended March 31,

Finance lease cost:

- Amortization

of right-of-use assets

- Interest on lease liabilities

Maturities of lease liabilities were as follows:

SCHEDULE OF MATURITIES OF FINANCE AND OPERATING LEASE LIABILITIES

of lease liabilities were as follows:

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

the next 12 months

next 13 to 24 months

next 25 to 36 months

next 37 to 48 months

next 49 to 60 months

the next 13 to 24 months

the next 25 to 36 months

the next 37 to 48 months

the next 49 to 60 months

Amount representing interest

3 unchanged sentences

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES

Weighted average

remaining lease term:

Weighted average

discount rate:

Supplemental cash flow information related to leases were as follows:

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION

Period Ended June 30,

paid for amounts included in measurement of lease liabilities:

cash flows from operating leases

cash flows from finance leases

information on lease liabilities arising from obtaining ROU assets:

Weighted average remaining lease term:

Finance leases

Operating leases

Weighted average discount rate:

Finance leases

Operating leases

cash flow information related to leases were as follows:

SCHEDULE OF CASH FLOW, SUPPLEMENTAL

Period Ended March 31,

Cash paid for amounts included in measurement of lease

-Operating cash

flows from operating leases

-Financing cash flows from

finance leases

Non-cash information on lease

liabilities arising from obtaining ROU assets:

-Finance leases

-Operating leases

Note 22- Restatement, for discussion regarding the impact of the Restatement.

24 unchanged sentences

the fair market value of the restricted stock is determined based on the closing price of the Company’s common stock on the grant

Company granted an aggregate of 295,000 (post reverse share split 29,500 shares) restricted shares of common stock in January 2025 to

a consultant, the Company’s directors, officers, and an employee as compensation for services rendered for the year ended December

The restricted shares award were granted under the 2019 Omnibus Equity Incentive Plan and vested immediately.

The fair value

of the award on the date of grant was $ 194,700 which was expensed in full during the year ended December 31, 2024.

the six months ended June 30, 2025, the Company granted in the aggregate, 265,000 (post reverse share split 26,500 shares) restricted

shares of common stock on March 21, 2025 to a consultant, the Company’s directors, officers and an employee as compensation for

services rendered for the current year.

The restricted shares award were granted under the 2019 Omnibus Equity Incentive Plan and vested

The fair value of the award on the date of grant was $ 196,100 which was expensed in full during the six months period ended

June 30, 2025.

Company granted an aggregate of 295,000

(post reverse share split 29,500 shares) restricted shares of common stock in January 2025 to a consultant, the Company’s

directors, officers, and an employee as compensation for services rendered for the year ended December 31, 2024.

The restricted

shares award were granted under the 2019 Omnibus Equity Incentive Plan and vested immediately.

The fair value of the award on the

date of grant was $ 194,700

which was expensed in full during the year ended December 31, 2024.

the three months ended March 31, 2025, the Company granted in the aggregate, 265,000

(post reverse share split 26,500 shares) restricted shares of common stock on March 21, 2025 to a consultant, the Company’s

directors, officers and an employee as compensation for services rendered for the current year.

The restricted shares award were

granted under the 2019 Omnibus Equity Incentive Plan and vested immediately.

The fair value of the award on the date of grant was

which was expensed in full during the three months period ended March 31, 2025.

Earnings – Appropriated

7 unchanged sentences

not result in this reserve balance falling below 25% of the registered capital.

As at June 30, 2025, GULF RESOURCES ‘statutory

provident fund stood at $26.67 million.

14 – TREASURY STOCK

of June 30, 2025 and December 31, 2024, the number of treasury stock of the Company was 28,583 and 28,583 , respectively.

As of March 31, 2025, the Company’s statutory provident

fund stood at $26.67 million.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

14 – TREASURY STOCK

of March 31, 2025 and December 31, 2024, the number of treasury stock of the Company was 28,583 and 28,583 , respectively.

15 – STOCK-BASED COMPENSATION

5 unchanged sentences

to be governed by the terms and condition of the 2007 Plan and applicable award agreement.

As of June 30, 2025, the number of shares

of the Company’s common stock available for grant of awards under the 2019 Plan was 1,801 shares.

As of March 31, 2025, the number of shares

of the Company’s common stock available for grant of stock options and issuance under the 2019 Plan was 1,801 shares.

fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model.

3 unchanged sentences

life is based on the historical option exercise pattern.

the three and six months ended June 30, 2025 and 2024, total compensation costs for options issued recorded in the consolidated statement

of comprehensive income (loss) were $ 0 .

There were no related tax benefits as a full valuation allowance was recorded in the three and

six months ended June 30, 2025 and 2024.

following table summarizes all Company stock option transactions between January 1, 2025 and June 30, 2025.

SCHEDULE OF STOCK OPTION ACTIVITY

January 1, 2025

during the period

the three months ended March 31, 2025 and 2024, total compensation costs for options issued recorded in the consolidated statement of

comprehensive income (loss) were $ 0 .

There were no related tax benefits as a full valuation allowance was recorded in the three months ended March 31, 2025

following table summarizes all Company stock option transactions between January 1, 2025 and March 31, 2025.

OF STOCK OPTION ACTIVITY

of Option and Warrants Outstanding and

Average Exercise price of Option

of Exercise Price per Common Stock

Balance, January 1, 2025

Granted during the period

Exercised during the period

during the period

June 30, 2025

Stock Options Outstanding and Exercisable

Balance, March 31, 2025

Options and Warrants Outstanding and Exercisable

at March 31, 2025

of Exercise Prices

Average Remaining Contractual Life (Years)

and exercisable

options exercisable and outstanding at June 30, 2025 are fully vested.

As of June 30, 2025 there was no unrecognized compensation cost

Outstanding and

options exercisable and outstanding at March 31, 2025 are fully vested.

As of March 31, 2025 there was no unrecognized compensation cost

related to outstanding stock options,

aggregate intrinsic value of options outstanding and exercisable as of June 30, 2025 was $ 0 .

During the three and six months ended June

30, 2025 and 2024, there were no options exercised.

aggregate intrinsic value of options outstanding and exercisable as of March 31, 2025 and 2024 was $ 0 .

RESOURCES, INC.

4 unchanged sentences

than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized.

States (“US”)

United States (“US”)

Resources, Inc.

1 unchanged sentence

No provision for the US federal income

taxes has been made as the Company had no US taxable income for the three-month and six-month periods ended June 30, 2025 and 2024, and

management believes that its earnings are permanently invested in the PRC.

Virgin Islands (“BVI”)

taxes has been made as the Company had no US taxable income for the three-month periods ended March 31, 2025 and 2024, and management

believes that its earnings are permanently invested in the PRC.

British Virgin Islands (“BVI”)

Class Group Limited, a subsidiary of Gulf Resources, Inc., was incorporated in the BVI and, under the current laws of the BVI, it is

1 unchanged sentence

Upper Class Group Limited did not generate assessable profit for the three-

month and six-month periods ended June 30, 2025 and 2024.

month periods ended March 31, 2025 and 2024.

a subsidiary of Upper Class Group Limited, was incorporated in Hong Kong and is subject to Hong Kong taxation on its activities conducted

1 unchanged sentence

No provision for income tax has been made as it has no taxable income for

the three-month and six-month periods ended June 30, 2025 and 2024.

The applicable statutory tax rates for the three-month and six-month

periods ended June 30, 2025 and 2024 are 16.5 %.

the three-month periods ended March 31, 2025 and 2024.

The applicable statutory tax rates for the three- month periods ended March 31,

2025 and 2024 are 16.5 %.

There is no dividend withholding tax in Hong Kong.

income tax (“EIT”) for SCHC, SYCI, SHSI and DCHC in the PRC is charged at 25 % of the assessable profits.

operating subsidiaries SCHC, SYCI, and DCHC are wholly foreign-owned enterprises (“FIE”) and SHSI incorporated in the PRC

and are subject to PRC Local Income Tax Law.

The PRC tax losses may be carried forward to be utilized against future taxable profit for

ten years for High-tech enterprises and small and medium-sized enterprises of science and technology and for five years for other companies.

operating subsidiaries SCHC, SYCI, DCHC, and SHSI are wholly foreign-owned enterprises (“FIE”) incorporated in the PRC and

are subject to PRC Local Income Tax Law.

The PRC tax losses may be carried forward to be utilized against future taxable profit for ten

years for High-tech enterprises and small and medium-sized enterprises of science and technology and for five years for other companies.

Tax losses of the operating subsidiaries of the Company may be carried forward for five years.

4 unchanged sentences

of the profit earned by an FIE after January 1, 2008 to its foreign investor(s) shall be subject to WHT at 5% effective tax rate.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

16 – INCOME TAXES – Continued

of June 30, 2025 and December 31, 2024, the accumulated distributable earnings under the Generally Accepted Accounting Principles (GAAP”)

of PRC that are subject to WHT were $ 70,523,755 and $ 40,524,183 , respectively.

Since the Company intends to reinvest its earnings to

further expand its businesses in mainland China, its foreign invested enterprises do not intend to declare dividends to their immediate

foreign holding companies in the foreseeable future.

Accordingly, as of June 30, 2025 and December 31, 2024, the Company has not recorded

any WHT on the cumulative amount of distributable retained earnings of its foreign invested enterprises that are subject to WHT in China.

As of June 30, 2025 and December 31, 2024, the unrecognized WHT were $ 4,477,604 and $ 1,078,743 , respectively.

of March 31, 2025 and December 31, 2024, the accumulated distributable earnings under the Generally Accepted Accounting Principles

(“GAAP”) of PRC that are subject to WHT are $ 35,315,678 and

$ 40,524,183 ,

respectively.

Since the Company intends to reinvest its earnings to further expand its businesses in mainland China, its foreign

invested enterprises do not intend to declare dividends to their immediate foreign holding companies in the foreseeable future.

Accordingly, as of March 31, 2025 and December 31, 2024, the Company has not recorded any WHT on the cumulative amount of

distributable retained earnings of its foreign invested enterprises that are subject to WHT in China.

As of March 31, 2025 and

December 31, 2024, the unrecognized WHT are $ 816,956 and

$ 1,078,743 ,

respectively.

Company’s income tax returns are subject to the various tax authorities’ examination.

9 unchanged sentences

requiring them to file income tax returns once in every four years.

The tax returns for 2014 and 2018 have been examined, and there is

no Hong Kong Profits Tax was charged.

components of the income tax benefit from continuing operations are:

SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT

Three-Month Period Ended June 30,

Six-Month Period Ended June 30,

The tax returns for 2014 and 2018 are currently subject to examination.

components of the provision for income tax benefit (expense) from continuing operations are:

OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT

Period Ended March 31,

Current taxes – PRC

Deferred tax – PRC entities

( 1,241,334 )

( 2,511,394 )

Total Income tax benefits

tax – PRC entities

( 1,270,060 )

Income tax (expenses) benefits

$ ( 1,270,060 )

components of the Company’s deferred tax assets and liabilities at June 30, 2025 and December 31, 2024 are as follows:

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

tax liabilities

of property plant and equipment

federal net operating loss

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 16 – INCOME TAXES – Continued

components of the Company’s deferred tax assets and liabilities at March 31, 2025 and December 31, 2024 are as follows:

OF DEFERRED TAX ASSETS AND LIABILITIES

Deferred tax liabilities

Deferred tax assets:

Exploration costs

Impairment of property plant

and equipment

PRC tax losses

net operating loss

Total deferred tax assets

( 16,018,898 )

3 unchanged sentences

deductible temporary differences.

As of June 30, 2025 and 2024, valuation allowances were mainly provided against deferred tax assets

As of March 31, 2025 and 2024, valuation allowances were mainly provided against deferred tax assets

caused by exploration costs and net operating loss where it was determined it was more likely than not that the benefits of the deferred

tax assets will not be realized due to their continuous losses.

increase in valuation allowance for the three-month period ended June 30, 2025 is $ 268,713 .

decrease in valuation allowance for the three-month period ended June 30, 2024 is $ 42,555 .

increase in valuation allowance for the six-month period ended June 30, 2025 is $ 1,352,530 .

decrease in valuation allowance for the six-month period ended June 30, 2024 is $ 57,028 .

were no unrecognized tax benefits and accrual for uncertain tax positions as of June 30, 2025 and December 31, 2024 and no amounts accrued

for penalties and interest for the three and six months ended June 30, 2025 and 2024.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

increase in valuation allowance for the three-month period ended March 31, 2025 is $ 1,083,817 .

The increase in valuation allowance for

the three-month period ended March 31, 2024 is $ 14,473 .

were no unrecognized tax benefits and accrual for uncertain tax positions as of March 31, 2025 and December 31, 2024 and no amounts accrued

for penalties and interest for the three months ended March 31, 2025 and 2024.

17 – BUSINESS SEGMENTS

280, Disclosures about Segments, of an Enterprise and Related Information, establishes standards for reporting information about operating

Operating segments are defined as components of an enterprise engaging in business activities from which they may earn revenues

and incurred expenses, and about which separate financial information is available that is evaluated regularly by the chief operating

decision-marker, or decision-making group( the “CODM”), in deciding how to allocate resources and assessing performance.

Company’s Chief Executive Officer (Mr.

Xiaobin Liu) is determined as the CODM of the Company, Mr Liu measures the performance of

each segment based on metrics of revenue and profit before taxes from operations and uses these results to evaluate the performance of,

and to allocate resources to each of the segments.

ASC 280, Disclosures about Segments, of an Enterprise and Related Information,

establishes standards for reporting information about operating segments.

Operating segments are defined as components of an enterprise

engaging in business activities from which they may earn revenues and incurred expenses, and about which separate financial information

is available that is evaluated regularly by the chief operating decision-marker, or decision-making group( the “ CODM ” ),

in deciding how to allocate resources and assessing performance.

The Company ’ s Chief Executive

Xiaobin Liu) is determined as the CODM of the Company, Mr Liu measures the performance of each segment based on metrics of

revenue and profit before taxes from operations and uses these results to evaluate the performance of, and to allocate resources to each

of the segments.

The Company has organized operations into four different business segments:

(2) crude salt, (3) chemical products, (4) natural gas.

SCHEDULE OF SEGMENT REPORTING BY SEGMENT

(Restated) Operating Segment

revenue (external customers)

revenue (intersegment)

from operations before income tax benefit (expense)

tax benefit (expense)

from operations after income tax benefit (expense)

and amortization

revenue (external customers)

revenue (intersegment)

(loss) from operations before income tax benefit (expense)

( 4,662,586 )

( 4,945,589 )

( 5,146,997 )

tax benefit (expense)

(loss) from operations after income tax benefit (expense)

( 3,500,334 )

( 3,737,479 )

( 3,938,887 )

and amortization

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

17 – BUSINESS SEGMENTS – Continued

(1) bromine, (2) crude salt, (3) chemical

products, (4) natural gas.

Company has four reportable segments:

bromine, crude salt, chemical products and natural gas.

The reportable segments are consistent

with how management views the markets served by the Company and the financial information that is reviewed by its chief operating decision

operating segment’s performance is primarily evaluated based on segment operating income, which excludes share-based compensation

expense, certain corporate costs and other income not associated with the operations of the segment.

These corporate costs (income) are

separately stated below and also include costs that are related to functional areas such as accounting, treasury, information technology,

legal, human resources, and internal audit.

The Company believes that segment operating income, as defined above, is an appropriate measure

for evaluating the operating performance of its segments.

All the customers are located in PRC.

OF SEGMENT REPORTING BY SEGMENT

Three-Month Period Ended March 31, 2025 (Restated)

Operating Segment

revenue (external customers)

revenue (intersegment)

from operations before income tax benefit (expense)

(intersegment)

Loss from operations before

income expense

( 3,374,506 )

1 unchanged sentence

( 4,650,887 )

tax benefit (expense)

from operations after income tax benefit (expense)

Income tax (expense) benefit

Loss from operations after

income taxes (expense) benefit

( 3,374,506 )

1 unchanged sentence

( 4,650,887 )

and amortization

revenue (external customers)

revenue (intersegment)

(loss) from operations before income tax benefit (expense)

Depreciation and amortization

Capital expenditures

Period Ended March 31, 2024

(intersegment)

Loss from operations before

income expense

( 4,782,815 )

1 unchanged sentence

( 5,269,419 )

tax benefit (expense)

(loss) from operations after income tax benefit (expense)

Income tax (expense) benefit

Loss from operations after

income taxes (expense) benefit

( 3,584,744 )

1 unchanged sentence

( 3,999,359 )

and amortization

Depreciation and amortization

Capital expenditures

* Certain common

production overheads, operating and administrative expenses and asset items (mainly cash and certain office equipment) of bromine and

crude salt segments in SCHC were split by reference to the average selling price and production volume of the respective segment until

Commencing May 2022, costs were assigned to the two subsidiaries (SCHC and SHSI) by independent accounting.

crude salt segments in SCHC were split by reference to the average selling price and production volume of the respective segment.

RESOURCES, INC.

1 unchanged sentence

17 – BUSINESS SEGMENTS – Continued

SCHEDULE OF SEGMENT COST

OF SEGMENT COST

Reconciliations

Period Ended June 30,

2025(Restated)

Period Ended March 31,

Reconciliations

segment operating loss

$ ( 706,659 )

$ ( 4,945,589 )

$ ( 5,075,710 )

$ ( 10,146,029 )

gain on translation of intercompany balance

from operations

( 5,146,997 )

( 5,442,160 )

( 10,416,416 )

income, net of expense

expenses, net

on disposal of property, plant and equipment

2025(Restated)

Total segment

operating loss

$ ( 4,369,051 )

$ ( 5,200,440 )

Corporate costs

gain (loss) on translation of intercompany balance

Loss from operations

( 4,650,887 )

2 unchanged sentences

$ ( 5,262,192 )

following table shows the major customer(s) (10% or more) for the three-month period ended June 30, 2025.

BUSINESS SEGMENTS - SCHEDULE OF REVENUE BY MAJOR CUSTOMERS

Revenue (000’s)

Morui Chemical Company Limited

Brother Technology Limited Shouguang Weidong Chemical Company

Shandong Shouguangshen Runfa Marine

Company Limited

following table shows the major customer(s) (10% or more) for the six-month period ended June 30, 2025.

Revenue (000’s)

Morui Chemical Company Limited

Brother Technology Limited

Weidong Chemical Company Limited

Shouguangshen Runfa MarineChemical Company Limited

following table shows the major customer(s) (10% or more) for the three-month period ended June 30, 2024.

following table shows the major customers (10% or more) for the three-month period ended March 31, 2025.

SCHEDULE OF REVENUE BY MAJOR CUSTOMERS

Revenue (000’s)

Brother Technology Limited

Morui Chemical Company Limited

Weidong Chemical Company Limited

following table shows the major customer(s) (10% or more) for the six-month period ended June 30, 2024.

Shandong Morui

Chemical Company

Shandong Brother Technology

Shouguang Weidong Chemical

Shandong Shouguangshen Runfa

Chemical Company Limited

following table shows the major customers (10% or more) for the three-month period ended March 31, 2024.

Revenue (000’s)

Morui Chemical Company Limited

Brother Technology Limited

Weidong Chemical Company Limited

Shandong Morui

Chemical Company

Shouguang Weidong Chemical

Shandong Brother Technology

Shandong Shouguangshen Runfa

Chemical Company Limited

18 – CUSTOMER CONCENTRATION

the six-month period ended June 30, 2025, the Company sold 65.2 % of its products to its top five customers.

As of June 30, 2025, amounts

due from these customers were $ 2,207,307 .

the six-month period ended June 30, 2024, the Company sold 60 % of its products to its top five customers.

As of June 30, 2024, amounts

the three-month period ended March 31, 2025, the Company sold 62.4 % of its products to its top five customers.

As of March 31, 2025,

amounts due from these customers were $ 1,462,756 .

the three-month period ended March 31, 2024, the Company sold 55 % of its products to its top five customers.

As of March 31, 2024, amounts

due from these customers were $ 2,803,534 .

2 unchanged sentences

19 – MAJOR SUPPLIERS

the six-month period ended June 30, 2025 the Company purchased 100 % of its raw materials from its top four suppliers.

As of June 30,

the three-month period ended March 31, 2025, the Company purchased 100 % of its raw materials from its top three suppliers.

31, 2025, amounts due to those suppliers were $ 390,250 .

the six-month period ended June 30, 2024 the Company purchased 100 % of its raw materials from its top three suppliers.

As of June 30,

the three-month period ended March 31, 2024, the Company purchased 100 % of its raw materials from its top three suppliers.

31, 2024, amounts due to those suppliers were $ 207,431 .

1 unchanged sentence

or about August 3, 2018, written decisions of administration penalty captioned Shou Guo Tu Zi Fa Gao Zi [2018] No.

291, Shou Guo Tu

Zi Fa Gao Zi [2018] No.

291, Shou Guo Tu Zi

Fa Gao Zi [2018] No.

292, Shou Guo Tu Zi Fa Gao Zi [2018] No.

293, Shou Guo Tu Zi Fa Gao Zi [2018] No.

294, Shou Guo Tu Zi Fa Gao

Zi [2018] No.

294, Shou Guo Tu Zi Fa Gao Zi

295 and Shou Guo Tu Zi Fa Gao Zi [2018] No.

296 (together, the “Written Decisions”) were served on

Shouguang City Haoyuan Chemical Company Limited (“SCHC”) by Shouguang City Natural Resources and Planning Bureau (the

“Bureau”), naming SCHC as respondent respectively thereof.

296 (together, the “Written Decisions”) were served on Shouguang City

Haoyuan Chemical Company Limited (“SCHC”) by Shouguang City Natural Resources and Planning Bureau (the “Bureau”),

naming SCHC as respondent respectively thereof.

The Decisions challenged the land use of Factory nos.

7, 4, 8 and 10, respectively, and alleged, among other things, that SCHC had illegally occupied and used the land in the total area

of approximately 52,674 square meter, on which Factory nos.

2, 9, 7, 4, 8 and 10, respectively,

and alleged, among other things, that SCHC had illegally occupied and used the land in the total area of approximately 52,674 square

meter, on which Factory nos.

2, 9, 7, 4, 8 and 10 were built, respectively.

The Written Decisions

ordered SCHC, among other things, to return the land subject to the Written Decisions to its respective legal owner, restore the

land to its original state, and demolish or confiscate all the buildings and facilities thereon and pay monetary penalty of

approximately RMB 1.3 million ($184,000) in the aggregate.

Each of the Written Decisions shall be executed within 15 days upon

serving on SCHC.

Additional interest penalty shall be imposed at a daily rate of 3% in the event that SCHC does not make the

monetary penalty payment in a timely manner.

Subsequently, the Bureau filed enforcement actions to the People’s Court of

Shouguang City, Shandong Province (the “Court”), naming SCHC as enforcement respondent and alleged, among other things,

that SCHC failed to perform its obligations under each of the Written Decisions within the specified timeframe.

The enforcement

proceedings sought court orders to enforce the Written Decisions.

On May 5, 2019, written decisions of administrative ruling

captioned (2019) Lu 0783 Xing Shen No.

The Written Decisions ordered SCHC, among other things, to

return the land subject to the Written Decisions to its respective legal owner, restore the land to its original state, and demolish

or confiscate all the buildings and facilities thereon and pay monetary penalty of approximately RMB 1.3 million ($184,000) in the aggregate.

Each of the Written Decisions shall be executed within 15 days upon serving on SCHC.

Additional interest penalty shall be imposed at

a daily rate of 3% in the event that SCHC does not make the monetary penalty payment in a timely manner.

Subsequently, the Bureau filed

enforcement actions to the People’s Court of Shouguang City, Shandong Province (the “Court”), naming SCHC as enforcement

respondent and alleged, among other things, that SCHC failed to perform its obligations under each of the Written Decisions within the

specified timeframe.

The enforcement proceedings sought court orders to enforce the Written Decisions.

On May 5, 2019, written decisions

of administrative ruling captioned (2019) Lu 0783 Xing Shen No.

384, (2019) Lu 0783 Xing Shen No.

385, (2019) Lu 0783 Xing Shen No.

389, (2019) Lu

0783 Xing Shen No.

(2019) Lu 0783 Xing Shen No.

393, and (2019) Lu 0783

Xing Shen No.

394, respectively (together, the “Court Rulings”) were made by the Court in favor of the Bureau.

orders, among other relief, to enforce each of the Written Decisions, to return each subject land to its legal owners and demolish

or confiscate the buildings and facilities thereon and restore the land to its original state within 10 days from the service of the

Court Rulings on SCHC.

The Court Rulings became enforceable immediately upon service on SCHC on May 5, 2019.

390, (2019) Lu 0783 Xing Shen No.

393, and (2019) Lu 0783 Xing Shen No.

394, respectively (together, the

“Court Rulings”) were made by the Court in favor of the Bureau.

The Court orders, among other relief, to enforce each of

the Written Decisions, to return each subject land to its legal owners and demolish or confiscate the buildings and facilities thereon

and restore the land to its original state within 10 days from the service of the Court Rulings on SCHC.

The Court Rulings became enforceable

immediately upon service on SCHC on May 5, 2019.

the last twenty years, to the Company’s knowledge, there were no government regulations requiring bromine manufacturers to obtain

20 unchanged sentences

case captioned (2019) Lu 0783 Xing Shen No.

Production of Factory No.7 was allowed to resume in April 2019.

Production of Factory No.

7 was allowed to resume in April 2019.

The Company received

13 unchanged sentences

view of the above facts and circumstances, the Company believes that it is not necessary to accrue for any estimated losses or impairment

as of June 30, 2025.

as of March 31, 2025.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

21 - SUBSEQUENT EVENT

Company evaluated subsequent events through the date on which these condensed consolidated financial statements were available to be

July 3, 2025, the Company filed a shelf registration statement covering up to $ 10,000,000 of common stock, preferred stock, and

warrants, individually or in combination.

The registration statement provides that any future offerings will be made pursuant

to applicable prospectus supplements, which will set forth the specific terms of each offering and the manner of

May 6, 2025, the Company was notified by the Listing Qualifications Staff of The Nasdaq Stock Market LLC that the Staff granted the Company’s

request to transfer the listing of its common stock, par value $ 0.0005 per share, from The Nasdaq Global Select Market tier to The

Nasdaq Capital Market tier.

On October 27, 2025, our shares began trading on the Nasdaq Capital Market under the same symbol “GURE”.

3, 2025, the Company filed a shelf registration statement covering up to $ 10,000,000 of common stock, preferred stock, and warrants,

individually or in combination.

The registration statement provides that any future offerings will be made pursuant to applicable

prospectus supplements, which will set forth the specific terms of each offering and the manner of sale.

on October 27, 2025, the Company completed a 1-for-10 reverse stock split of our common stock, such that for each ten shares

25 unchanged sentences

requirement for continued listing on The Nasdaq Capital Market.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

21 - SUBSEQUENT EVENT – Continued

December 10, 2025, Shouguang City Haoyuan Chemical Company Limited (the “Seller”), a company incorporated in the PRC and

77 unchanged sentences

22 – RESTATEMENT

Company restates its previously released unaudited condensed consolidated financial statements for the six months ended June 30, 2025,

Company restates its previously released unaudited condensed consolidated financial statements for the three months ended March 31, 2025,

and incorporate them into the 2025 Quarterly Report “10-Q Form Report” (the “Restatement”).

5 unchanged sentences

usage rights as leases in accordance with the provisions of ASC 842.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated balance sheet as of December 31, 2024, are summarized in the following table:

SCHEDULE OF RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

As Previously

December 31, 2024

As Previously

OF RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

Current Assets

3 unchanged sentences

Amount due from related parties

Other receivables

Total current assets

current assets

Non-Current Assets

Property, plant and equipment, net

Property, plant and equipment,

( 46,712,127 )

Finance lease right-of-use assets

Operating lease right-of-use assets

Prepaid land leases, net of current portion

Deferred tax assets, net

Total non-current assets

Finance lease right-of-use

Operating lease right-of-use

Prepaid land leases, net of

current portion

tax assets, net

non-current assets

( 1,633,707 )

Liabilities and Stockholders’ Equity

Liabilities and Stockholders’

Current Liabilities

Short-term bank borrowing

Accounts payable and accrued expenses

Accounts payable and accrued

( 7,878,181 )

1 unchanged sentence

Amount due to related parties

Finance lease liabilities, current portion

Operating lease liabilities, current portion

Total current liabilities

Finance lease liabilities, current

lease liabilities, current portion

current liabilities

( 4,753,631 )

Non-Current Liabilities

Finance lease liabilities, net of current portion

Operating lease liabilities, net of current portion

Finance lease liabilities, net

of current portion

lease liabilities, net of current portion

Long-term bank borrowing

Total non-current liabilities

Total Liabilities

non-current liabilities

Commitment and Contingencies

1 unchanged sentence

PREFERRED STOCK;

$ 0.001 par value;

1,000,000 shares authorized;

1 unchanged sentence

COMMON STOCK;

$ 0.0005 par value;

shares authorized;

shares issued;

and 1,091,562 shares outstanding as of December 31, 2024

and 1,091,562

outstanding as of December 31, 2024

Treasury stock;

28,583 shares as of December 31, 2024 at

28,583 shares as of December 31, 2024

( 1,372,673 )

Additional paid-in capital

2 unchanged sentences

Retained earnings appropriated

Accumulated other comprehensive loss

other comprehensive loss

( 20,854,143 )

Total Stockholders’ Equity

Total Liabilities and Stockholders’ Equity

( 20,783,318 )

Stockholders’ Equity

Liabilities and Stockholders’ Equity

$ 169,455,995

effects of the restatement on the consolidated balance sheet as of June 30, 2025 are summarized in the following table:

As Previously

June 30, 2025

As Previously

( 1,633,707 )

$ 167,822,288

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated balance sheet as of March 31, 2025 are summarized in the following table:

Previously Reported

Current Assets

15 unchanged sentences

( 1,637,600 )

$ 162,988,342

Liabilities and Stockholders’ Equity

5 unchanged sentences

Finance lease liabilities, current portion

Operating lease liabilities, current portion

Operating lease liabilities,

current portion

Total current liabilities

2 unchanged sentences

Finance lease liabilities, net of current portion

Operating lease liabilities, net of current portion

Operating lease liabilities, net of current

Total non-current liabilities

3 unchanged sentences

PREFERRED STOCK;

$ 0.001 par value;

shares authorized;

none outstanding

COMMON STOCK;

$ 0.0005 par value;

shares authorized;

1,382,114 shares

and 1,353,531 shares outstanding as of June 30, 2025

shares issued;

and 1,353,531

shares outstanding as of March 31, 2025

Treasury stock;

28,583 shares as of June 30, 2025 at cost

28,583 shares as of March 31, 2025 at cost

( 1,372,673 )

4 unchanged sentences

Retained earnings appropriated

Accumulated other comprehensive loss

Accumulated other comprehensive

( 20,632,127 )

( 20,534,397 )

Total Stockholders’ Equity

Total Liabilities and Stockholders’ Equity

Total Stockholders’

Total Liabilities and

Stockholders’ Equity

$ 165,729,939

4 unchanged sentences

(a) The change in common

stock and additional paid-in capital is due to the Company’s 1-for-10 reverse stock split on October 27, 2025.

stock and additional paid-in capital is due to the Company’s 1-for-10

reverse stock split on October 27, 2025.

(b) As of December

31, 2024, in the fixed assets, the original value of the buildings subject to reclassification amounted to $ 68,476,868 .

The Company reclassified

them based on their acquisition methods.

The self-built portion was reclassified as “leasehold improvements” in the property,

plant and equipment, with an original value of $ 3,507,367 .

The leased portion was reclassified as finance lease right-of-use assets,

with an original value of $ 64,189,590 , accumulated amortization of $ 19,111,170 , and a net value of $ 45,078,720 .

of June 30, 2025, in the fixed assets, the original value of the buildings and Construction in process subject to reclassification

amounted to $ 66,899,438 .

The Company reclassified them based on their acquisition methods.

The self-built portion was reclassified as “leasehold

improvements” in the property, plant and equipment, with an original value of $ 3,521,992 .

The self-built portion was reclassified as “leasehold improvements”

in the property, plant and equipment, with an original value of $ 3,507,367 .

The leased portion was reclassified as finance lease right-of-use assets, with an original value of $ 64,189,590 ,

1 unchanged sentence

and a net value of $ 45,078,720 .

payable and accrued expenses was reclassified as finance lease liability relating to the salt pans.

of March 31, 2025, in the fixed assets, the original value of the buildings subject to reclassification amounted to $ 68,575,318 .

Company reclassified them based on their acquisition methods.

The self-built portion was reclassified as “leasehold improvements”

in the property, plant and equipment, with an original value of $ 3,512,410 .

The leased portion was reclassified as finance lease right-of-use assets, with an original value of $ 64,281,876 , accumulated amortization of $ 19,912,813 , and a net value of $ 44,369,063 .

31, 2024, the amount of $ 7,878,181

in accounts payable and accrued expenses was reclassified as

finance lease liability relating to the salt pans.

The reclassified amount of finance lease liabilities including the current portion

of $ 3,124,550

and the non-current portion of $ 4,014,019 .

of March 31, 2025, the amount of $ 4,769,747 in accounts payable and accrued expenses was reclassified as finance lease liability relating

to the salt pans.

The reclassified amount of finance lease liabilities including the non-current portion of $ 4,058,910 .

(d) Regarding the decrease

in retained earnings unappropriated, the main reason was the increase in expenses.

in retained earnings unappropriated, the main reasons was the increase in expenses.

The increase in expenses is mainly due to the reclassification

4 unchanged sentences

accumulated other comprehensive loss represents the foreign currency translation differences in the financial statements.

effects of the restatement on the consolidated statement of operations income (loss) for the three months ended June 30, 2024, are summarized

in the following table:

SCHEDULE OF STATEMENT OF OPERATIONS INCOME (LOSS)

As Previously

June 30, 2024

As Previously

OPERATING COSTS AND EXPENSE

Cost of revenues

( 5,112,058 )

Sales and marketing expenses

Direct labor and factory overheads incurred during plant shutdown

( 1,714,503 )

General and administrative expenses

TOTAL OPERATING COSTS AND EXPENSE

( 7,530,166 )

LOSS FROM OPERATIONS

( 5,146,997 )

OTHER INCOME (EXPENSE)

Interest expense

Interest income

Other expense, net

Loss on disposal of property, plant and

( 29,169,008 )

TOTAL OTHER INCOME, NET

( 29,159,031 )

LOSS BEFORE INCOME TAXES

( 34,306,028 )

INCOME TAX EXPENSE

$ ( 33,097,918 )

COMPREHENSIVE LOSS:

$ ( 33,097,918 )

OTHER COMPREHENSIVE (LOSS) INCOME

- Foreign currency translation adjustments

TOTAL COMPREHENSIVE LOSS

$ ( 33,947,172 )

BASIC AND DILUTED LOSS PER SHARE:

BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES:

( 9,635,362 )

effects of the restatement on the consolidated statement of operations income (loss) for the three months ended June 30, 2025, are summarized

in the following table:

As Previously

June 30, 2025

As Previously

OPERATING COSTS AND EXPENSE

Cost of revenues

( 7,357,130 )

( 7,366,702 )

Sales and marketing expenses

Direct labor and factory overheads incurred during plant shutdown

General and administrative expenses

( 1,025,780 )

TOTAL OPERATING COSTS AND EXPENSE

( 9,094,471 )

( 9,135,058 )

LOSS FROM OPERATIONS

OTHER INCOME (EXPENSE)

Interest expense

Interest income

Other expenses, net

TOTAL OTHER INCOME, NET

LOSS BEFORE INCOME TAXES

INCOME TAX EXPENSE

$ ( 773,777 )

$ ( 814,364 )

COMPREHENSIVE LOSS:

$ ( 773,777 )

$ ( 814,364 )

OTHER COMPREHENSIVE (LOSS) INCOME

- Foreign currency translation adjustments

TOTAL COMPREHENSIVE LOSS

$ ( 370,002 )

$ ( 426,314 )

BASIC AND DILUTED LOSS PER SHARE

BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES:

( 11,993,087 )

following descriptions of the restatement adjustments to the statement of operations exclude a description of adjustments previously

identified and concluded as immaterial they were also corrected as part of the restatement.

(a) The increase in

cost of revenue and general and administrative expenses were due to the reclassification of finance lease right-of-use asset.

depreciation was calculated after deducting 5% residual value from the fixed assets, but now there is no residual value for amortization

of finance lease right-of-use asset calculation.

(b) The change in the

accumulated other comprehensive loss represents the foreign currency translation differences in the financial statements.

and diluted loss per share is due to the Company’s 1-for-10 reverse stock split on October 27, 2025.

effects of the restatement on the consolidated statement of operations income (loss) for the six months ended June 30, 2024, are summarized

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated statement of operations income (loss) for the three months ended March 31, 2024, are summarized

in the following table:

As Previously

June 30, 2024

As Previously

OF STATEMENT OF OPERATIONS INCOME (LOSS)

OPERATING COSTS AND EXPENSE

3 unchanged sentences

Sales and marketing expenses

Direct labor and factory overheads incurred during plant shutdown

( 5,449,192 )

General and administrative expenses

Direct labor and factory overheads incurred

during plant shutdown

( 3,734,689 )

TOTAL OPERATING COSTS AND EXPENSE

General and administrative

TOTAL OPERATING COSTS

( 6,576,481 )

7 unchanged sentences

Other expense, net

Loss on disposal of property, plant and

( 29,169,008 )

TOTAL OTHER INCOME, NET

( 29,151,804 )

LOSS BEFORE INCOME TAXES

8 unchanged sentences

OTHER COMPREHENSIVE (LOSS) INCOME

- Foreign currency translation adjustments

( 1,243,121 )

TOTAL COMPREHENSIVE LOSS

- Foreign currency translation

TOTAL COMPREHENSIVE

$ ( 4,385,999 )

1 unchanged sentence

BASIC AND DILUTED LOSS PER SHARE:

BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES:

BASIC AND DILUTED WEIGHTED AVERAGE

NUMBER OF SHARES:

( 9,635,362 )

effects of the restatement on the consolidated statement of operations income (loss) for the six months ended June 30, 2025, are summarized

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated statement of operations income (loss) for the three months ended March 31, 2025, are summarized

in the following table:

As Previously

June 30, 2025

As Previously

OPERATING COSTS AND EXPENSE

3 unchanged sentences

Sales and marketing expenses

Direct labor and factory overheads incurred during plant shutdown

Direct labor and factory overheads incurred

during plant shutdown

( 3,225,808 )

General and administrative expenses

General and administrative

( 1,389,523 )

( 1,427,009 )

TOTAL OPERATING COSTS AND EXPENSE

TOTAL OPERATING COSTS

( 6,214,654 )

6 unchanged sentences

Interest income

Other expenses, net

TOTAL OTHER INCOME, NET

9 unchanged sentences

OTHER COMPREHENSIVE (LOSS) INCOME

- Foreign currency translation adjustments

TOTAL COMPREHENSIVE LOSS

- Foreign currency translation

TOTAL COMPREHENSIVE

$ ( 4,407,484 )

1 unchanged sentence

BASIC AND DILUTED LOSS PER SHARE

BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES:

BASIC AND DILUTED WEIGHTED AVERAGE

NUMBER OF SHARES:

( 10,498,018 )

9 unchanged sentences

and diluted loss per share is due to the Company’s 1-for-10 reverse stock split on October 27, 2025.

effects of the restatement on the consolidated statement of stockholders’ deficit for the three months ended June 30, 2024 are

summarized in the following table:

SCHEDULE OF CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

other comprehensive Income (loss)

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

other comprehensive Income (loss)

THREE MONTHS ENDED JUNE 30, 2024 (As Previously Reported)

BALANCE AT MARCH 31, 2024

$ ( 1,372,673 ) -

$ 101,688,262

$ ( 18,447,136 )

$ 200,862,297

Restricted shares to be issued for service

Acquisition of assets

Currency translation adjustment

Net loss for three months June 30, 2024

( 33,097,918 )

BALANCE AT JUNE 30, 2024

$ ( 1,372,673 ) -

$ 101,688,262

$ ( 19,296,390 )

$ 166,915,125

THREE MONTHS ENDED JUNE 30, 2024 (Restatement Impact)

BALANCE AT MARCH 31, 2024

( 9,892,609 )

( 9,635,362 )

Restricted shares to be issued for service

Currency translation adjustment

Net loss for three months June 30, 2024

BALANCE AT JUNE 30, 2024

( 9,892,609 )

( 9,635,362 )

THREE MONTHS ENDED JUNE 30 , 2024 (As Restated)

BALANCE AT MARCH 31, 2024

$ ( 1,372,673 ) -

$ 101,712,325

$ ( 18,447,136 )

$ 200,862,297

Restricted shares to be issued for service

Acquisition of assets

Currency translation adjustment

Net loss for three months June 30, 2024

( 33,097,918 )

BALANCE AT JUNE 30, 2024

$ ( 1,372,673 ) -

$ 101,712,325

$ ( 19,296,390 )

$ 166,915,125

effects of the restatement on the consolidated statement of stockholders’ deficit for the three months ended June 30, 2025 are

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated statement of stockholders’ deficit for the three months ended March 31, 2024 are

summarized in the following table:

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Share to be issued

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive Income

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Share to be issued

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive Income

THREE MONTHS ENDED JUNE 30, 2025 (As Previously Reported)

BALANCE AT MARCH 31, 2025

$ ( 1,372,673 )

$ 105,167,292

$ ( 20,632,127 )

$ 142,584,827

Restricted shares to be issued for service

Currency translation adjustment

Net loss for three months June 30, 2025

BALANCE AT JUNE 30, 2025

$ ( 1,372,673 )

$ 105,167,292

$ ( 20,228,352 )

$ 142,214,825

THREE MONTHS ENDED JUNE 30, 2025 (Restatement Impact)

BALANCE AT MARCH 31, 2025

( 12,250,334 )

( 11,993,087 )

OF CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT

unappropriated

comprehensive

unappropriated

MONTHS ENDED MARCH 31, 2024 (As Previously Reported)

AT DECEMBER 31, 2023

$ ( 1,372,673 ) -

$ 101,688,262

Restricted shares to be issued for service

Currency translation adjustment

Net loss for three months June 30, 2025

BALANCE AT JUNE 30, 2025

$ ( 18,053,269

$ 205,248,296

Currency translation

Net loss for three months

ended March 31, 2024

( 3,992,132 )

THREE MONTHS ENDED JUNE 30, 2025 (As Restated)

BALANCE AT MARCH 31,

3 unchanged sentences

$ 200,862,297

Restricted shares to be issued for service

Currency translation adjustment

Net loss for three months June 30, 2025

BALANCE AT JUNE 30, 2025

$ ( 1,372,673 )

$ 105,192,535

$ ( 20,146,347 )

$ 141,250,643

following descriptions of the restatement adjustments to the consolidated statement of stockholders’ deficit excludes a description

of adjustments previously identified and concluded as immaterial the were also corrected as part of the restatement.

(a) The change in common

stock and additional paid-in capital is due to the Company’s 1-for-10 reverse stock split on October 27, 2025.

(b) Regarding the decrease

in retained earnings unappropriated, the main reason was that cost of revenue and general and administrative expenses increased.

increase of expenses was due to the reclassification of finance lease right-of-use asset.

Previously, depreciation was calculated after

deducting 5% residual value from the fixed assets, but now there is no residual value for amortization of finance lease right-of-use

asset calculation.

accumulated other comprehensive loss represents the foreign currency translation differences in the financial statements.

effects of the restatement on the consolidated statement of stockholders’ deficit for the six months ended June 30, 2024 are summarized

in the following table:

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive Income

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive Income

SIX MONTHS ENDED

2024 (As Previously Reported)

BALANCE AT DECEMBER 31, 2023

$ ( 1,372,673 )

$ 101,688,262

$ ( 18,053,269 )

$ 205,248,296

Restricted shares to be issued for service

Currency translation adjustment

( 1,243,121 )

Net loss for six months June 30, 2024

( 37,090,050 )

BALANCE AT JUNE 30, 2024

$ ( 1,372,673 )

$ 101,688,262

$ ( 19,296,390 )

$ 166,915,125

SIX MONTHS ENDED JUNE 30, 2024 (Restatement Impact)

THREE MONTHS ENDED MARCH 31, 2024 (Restatement

BALANCE AT DECEMBER

1 unchanged sentence

( 9,635,362 )

Restricted shares to be issued for service

Currency translation adjustment

Net loss for six months June 30, 2024

BALANCE AT JUNE 30, 2024

Net loss for three months

ended March 31, 2024

BALANCE AT MARCH 31, 2024

( 9,892,609 )

( 9,635,362 )

SIX MONTHS ENDED JUNE 30, 2024 (As Restated)

THREE MONTHS ENDED MARCH 31, 2024 (As Restated)

BALANCE AT DECEMBER

3 unchanged sentences

$ 205,248,296

Restricted shares to be issued for service

Currency translation adjustment

( 1,243,121 )

Net loss for six months June 30, 2024

Net loss for three months

ended March 31, 2024

( 3,992,132 )

BALANCE AT JUNE 30, 2024

BALANCE AT MARCH 31,

$ ( 1,372,673 ) -

2 unchanged sentences

$ 200,862,297

effects of the restatement on the consolidated statement of stockholders’ deficit for the six months ended June 30, 2025 are summarized

in the following table:

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Share to be issued

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive Income

Restatement Reference

Number of shares issued

Number of shares outstanding

Number of treasury stock

Treasury stock

Share to be issued

Additional paid-in capital

Retained earnings unappropriated

Retained earnings appropriated

Accumulated other comprehensive Income

SIX MONTHS ENDED JUNE 30, 2025 (As Previously Reported)

BALANCE AT DECEMBER 31, 2024

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated statement of stockholders’ deficit for the three months ended March 31, 2025 are

summarized in the following table:

unappropriated

comprehensive

unappropriated

THREE MONTHS ENDED MARCH 31, 2025 (As Previously Reported)

DECEMBER 31, 2024

$ ( 1,372,673 )

2 unchanged sentences

$ 143,706,670

Restricted shares to be issued for service

Restricted shares to

be issued for service

Acquisition of assets

Currency translation adjustment

Net loss for six months June 30, 2025

Currency translation

Net loss for three months ended March 31, 2025

( 4,629,500 )

BALANCE AT JUNE 30, 2025

MARCH 31, 2025

$ ( 1,372,673 )

2 unchanged sentences

$ 142,584,827

SIX MONTHS ENDED JUNE 30, 2025 (Restatement Impact)

THREE MONTHS ENDED MARCH 31, 2025 (Restatement Impact)

BALANCE AT DECEMBER 31, 2024

7 unchanged sentences

( 3,088,258 )

( 3,089,541 )

Acquisition of assets

Currency translation adjustment

Net loss for six months June 30, 2025

BALANCE AT JUNE 30, 2025

Net loss for three months ended March 31, 2025

BALANCE AT MARCH 31, 2025

( 12,250,334 )

2 unchanged sentences

$ ( 907,870 )

SIX MONTHS ENDED JUNE 30, 2025 (As Restated)

THREE MONTHS ENDED MARCH 31, 2025 (As Restated)

BALANCE AT DECEMBER 31, 2024

6 unchanged sentences

Currency translation adjustment

Net loss for six months June 30, 2025

Net loss for three months ended March 31, 2025

( 4,670,180 )

BALANCE AT JUNE 30, 2025

BALANCE AT MARCH 31, 2025

$ ( 1,372,673 )

14 unchanged sentences

accumulated other comprehensive loss represents the foreign currency translation differences in the financial statements.

amount originally classified as restricted shares to be issued for service was reclassified to acquisition of assets, as the shares were

issued in connection with the asset acquisition.

effects of the restatement on the consolidated statement of cash flows for the six months ended June 30, 2024, are summarized in the

(d) The amount of $ 3,089,541

originally classified as restricted shares to be issued for

service was reclassified to acquisition of assets, as the shares were issued in connection with the asset acquisition.

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated statement of cash flows for the three months ended March 31, 2024, are summarized in the

following table:

SCHEDULE OF CONSOLIDATED STATEMENT OF CASH FLOWS

As Previously

June 30, 2024

As Previously

OF CONSOLIDATED STATEMENT OF CASH FLOWS

Previously Reported

CASH FLOWS FROM OPERATING ACTIVITIES

1 unchanged sentence

$ ( 3,992,132 )

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Amortization on capital lease

Adjustments to reconcile net income to net

cash provided

by (used in) operating activities:

Amortization on

capital lease

Depreciation and amortization

Stock-based compensation

Deferred tax asset

1 unchanged sentence

( 1,270,060 )

Stock-based compensation expense

Amortization of operating lease right-of-use assets

Amortization of finance lease right-of-use assets

Loss on disposal of property, plant and equipment

Amortization of operating

lease right-of-use asset

Amortization of finance

lease right-of-use asset

Accrued interest receivable

4 unchanged sentences

Other receivables

Accounts and other payable and accrued expenses

( 2,583,610 )

Accounts and other payable

and accrued expenses

Taxes payable

Lease liabilities

Net cash used in operating activities

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment

Net cash used in operating

( 1,330,476 )

CASH FLOWS FROM INVESTING ACTIVITIES

Loans to third parties

Net cash used in investing activities

( 60,526,213 )

( 28,923,642 )

CASH FLOWS FROM FINANCING ACTIVITIES

Repayment of finance leases obligation

( 31,602,571 )

( 31,866,665 )

Proceeds from long-term borrowing

1 unchanged sentence

Net cash used in financing activities

( 31,866,665 )

EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

EFFECTS OF EXCHANGE RATE

CHANGES ON CASH AND CASH EQUIVALENTS

NET DECREASE IN CASH AND CASH EQUIVALENTS

1 unchanged sentence

( 1,462,098 )

CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR

CASH AND CASH EQUIVALENTS - END OF YEAR

June 30, 2024

As Previously Reported

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid during the year for:

CASH AND CASH EQUIVALENTS

- BEGINNING OF YEAR

CASH AND CASH EQUIVALENTS

- END OF YEAR

Previously Reported

SUPPLEMENTAL DISCLOSURE OF CASH

FLOW INFORMATION

Cash paid during the year

Paid for taxes

Interest paid

effects of the restatement on the consolidated statement of cash flows for the six months ended June 30, 2025, are summarized in the

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

effects of the restatement on the consolidated statement of cash flows for the three months ended March 31, 2025, are summarized in the

following table:

As Previously

June 30, 2025

As Previously

CASH FLOWS FROM OPERATING ACTIVITIES

1 unchanged sentence

$ ( 4,670,180 )

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Amortization on capital lease

Adjustments to reconcile net income to net

cash provided by (used in) operating activities:

Amortization on capital

Depreciation and amortization

( 1,546,829 )

Stock-based compensation expense

Amortization of operating lease right-of-use assets

Amortization of finance lease right-of-use assets

Stock-based compensation

Amortization of operating

lease right-of-use asset

Amortization of finance

lease right-of-use asset

Changes in assets and liabilities:

3 unchanged sentences

Prepayment and deposits

( 2,331,871 )

Other receivables

Accounts and other payable and accrued expenses

Accounts and other payable

and accrued expenses

Taxes payable

Lease liabilities

Net cash used in operating activities

cash used in operating activities

( 1,580,128 )

CASH FLOWS FROM INVESTING ACTIVITIES

FLOWS FROM INVESTING ACTIVITIES

Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Repayment of finance leases obligation

Net cash provided by (used in) financing activities

EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

FLOWS FROM FINANCING ACTIVITIES

Net cash used in financing activities

EFFECTS OF EXCHANGE RATE

CHANGES ON CASH AND CASH EQUIVALENTS

NET DECREASE IN CASH AND CASH EQUIVALENTS

1 unchanged sentence

( 1,552,117 )

CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR

CASH AND CASH EQUIVALENTS - END OF YEAR

June 30, 2025

As Previously Reported

CASH AND CASH EQUIVALENTS

- BEGINNING OF YEAR

CASH AND CASH EQUIVALENTS

- END OF YEAR

As Previously

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

2 unchanged sentences

Interest paid

RESOURCES, INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

22 –RESTATEMENT – Continued

DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES

14 unchanged sentences

value from the fixed assets, but now there is no residual value for amortization of finance lease right-of-use asset calculation.

accumulated other comprehensive loss represents the foreign currency translation differences in the financial statements.

(d) Fixed assets without property ownership certificates have been reclassified as finance lease right-of-use assets,

resulting in an amount of $ 31,602,571 .

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q/A

Item 1. Financial Statements