GULF RESOURCES INC
For the period ended Dec 31, 2023. Filed Sep 27, 2024.
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FY2023 · Filed Sep 27, 2024
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Item 13. Certain Relationships and Related Transactions, Director Independence
Our policy is that a contract or transaction either between the Company and a director, or between a director and another company in which he is financially interested is not necessarily void or void-able if the relationship or related party transactions are approved or ratified by the Audit Committee.
For details of the related transactions, see “Notes to Consolidated Financial Statements, Note 9 – Related Party Transactions” contained in this Annual Report.
Procedures for Approval of Related Party Transactions
Our Board of Directors is charged with reviewing and approving all potential related party transaction whether or not such transactions exceed $120,000. We have not adopted other procedures for review, or standards for approval, of such transactions, but instead review them on a case-by-case basis.
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