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COMMON STOCK
 12 Months Ended
Dec. 31, 2011
COMMON STOCK

NOTE 12 – COMMON STOCK

 

The Company changed the trading ticker symbol of its common stock on the NASDAQ Global Select Market to “GURE” effective at the open of the market on June 30, 2011.

 

Effective October 12, 2009, the Company effected a one for four reverse stock split.  All shares and per share amount for all periods presented have been adjusted to reflect the reverse stock split.

 

In March 2009, the Company issued 5,250,000 shares of its common stock as payment for $21,287,493 of Notes and Loan Payable-Related Party.

 

In March 2009, the Company issued 375,000 shares of its common stock, valued at $615,000, to acquire assets owned by Qiufen Yuan, Han Wang and Yufen Zhang.

 

In September 2009, the Company issued 1,057,341 shares of its common stock, valued at $5,413,588, to acquire assets owned by Han Wang, Qing Yang and Yuliang Gao.

 

 

 

In December 2009, the Company issued 2,941,182 shares of its common stock at a price of $8.50 per share in a private placement. A portion of the proceeds were received by the Company in January 2010.

 

In August 2008, the Company granted to one investor relations firm a warrant to purchase a total of 25,000 shares of the Company’s common stock at an exercise price of $4.80 per share and the options vested immediately. In January 2010, the investor relations firm made a cashless exercise for the warrant. The Company issued 15,881 shares based on the fair market price of $13.16.

 

In the fourth quarter of 2008, the Company granted to one Board member options to purchase a total of 12,500 shares of the Company’s common stock at an exercise price of $1.44 per share and the options vested immediately.  In February 2010, the Company issued 12,500 shares of its common stock upon the exercise of such stock options by the Board member.

 

In June 2010, the Company issued 70,560 shares of its common stock, valued at $608,227, to acquire assets owned by Mr Jinjin Li, Ms Qiuzhen Wang, Yueliang Wang, Kunming Tian, Gaoming Tian and Zhiqiang Wei.

 

In the fourth quarter of 2010, the Company issued 95,905 shares of its common stock based on the fair market prices of $8.3 - $11.8 upon the cashless exercise of 187,500 stock options granted to the Board members and employees.

 

In the second quarter of 2011, the Company issued 9,430 shares of its common stock based on the fair market price of $3.42 upon the cashless exercise of 12,500 stock options granted to a Board member.