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Blue Hat Interactive Entertainment Technology Ordinary Shares (Nasdaq: BHAT) is a pioneering player in the development and commercialization of augmented reality (AR) interactive entertainment games and toys in China. The company's extensive portfolio includes products such as AR Racer, AR Crazy Bug, AR 3D Magic Box, AR Dinosaur, Talking Tom and Friends Bouncing Bubble, and Immersive Education Classes.
BHAT segments its operations into Interactive toys - animation series, Interactive toys - game series, Mobile games, Information services, and Communication services. The game series is the company's leading revenue generator, with the majority of its revenues stemming from the Chinese market.
In recent developments, BHAT has made significant strides in transforming its business model. On August 15, 2023, the company completed a $29.8 million issuance of ordinary shares, marking a notable advancement in its pivot towards commodity trading, particularly in gold and jewelry. This shift, guided by CEO Mr. Xiaodong Chen, aims to create sustainable value for global shareholders.
The company has also strategically realigned its leadership, appointing Mr. Pan Weicheng as the Chief Strategy Officer in May 2023, and has divested its Variable Interest Entity (VIE) structure within mainland China. BHAT's future growth strategies are aimed at expanding its business focus to Southeast Asia and the United States while leveraging artificial intelligence (AI) to enhance its commodity trading framework.
Further illustrating its commitment to AI, on March 19, 2024, BHAT announced its entry into AI financial services through its subsidiary, Golden Strategy Ltd. The company envisages a three-stage development plan for AI technology: infrastructure construction, revenue increase potential, and productivity enhancement. This strategic shift is poised to address the evolving market dynamics and the growing interest in AI technology applications in the financial sector.
Moreover, on May 15, 2024, BHAT introduced an AI digital person named 'Aileen' as its Chief Information Officer (CIO). Aileen's role is to collect industry information and support decision-making processes, reflecting BHAT's innovative approach in integrating AI with real-world business scenarios.
BHAT is on a transformative journey, embracing cutting-edge technologies and strategic realignments to enhance its market position and drive future growth.
Blue Hat (NASDAQ: BHAT) has completed its purchase of one ton of gold from Rongxin Precious Metal Technology, following a sales agreement from October 2023. The transaction was settled through the issuance of ordinary shares at RMB 473.70 per gram (approximately US$1,900 per ounce). With gold prices reaching US$2,780 per ounce in early 2025, the company's book assets have appreciated by nearly US$25 million.
The company has made several strategic moves, including its March 2024 shift to become an AI-driven financial services enterprise, a potential acquisition with GTC Multi Trading DMCC in May 2024, and the development of an intelligent gold trading platform. Blue Hat's subsidiary achieved Category A Dealer status in Precious Metals and Stones in June 2024.
For 2025, Blue Hat plans to increase gold reserves, optimize supply chain operations, and promote technological innovation through blockchain-based trading platforms.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has received a delisting notice from Nasdaq on January 24, 2025, due to non-compliance with the Low Priced Stocks Rule, as the company's shares traded at $0.10 or less for ten consecutive trading days from January 8-23, 2025.
This notice follows a previous September 6, 2024 notification regarding non-compliance with the minimum $1.00 bid price requirement, for which the company had until March 5, 2025 to regain compliance. The new delisting determination has terminated this compliance period early.
Blue Hat has until January 31, 2025, to request a hearing to appeal the delisting determination. If requested, the company's shares will continue trading on Nasdaq during the appeal process. Without an appeal, trading will be suspended on February 4, 2025. The company is exploring options to regain compliance, including a potential reverse stock split.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a $4.3 million registered direct offering of 77,989,800 Ordinary Shares. The shares are being sold at $0.055 per share to several institutional investors.
The offering is expected to close around January 14, 2025, subject to customary closing conditions. Maxim Group serves as the sole placement agent. The offering is being conducted under a shelf registration statement on Form F-3 that was declared effective by the SEC on January 26, 2024.
The final proceeds will be determined after deducting placement agent fees and other estimated offering expenses.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a registered direct offering of 55,950,000 Ordinary Shares at $0.07 per share, aiming to raise approximately $3.9 million in gross proceeds. The offering is expected to close around January 10, 2025, subject to customary closing conditions.
The shares are being offered through a shelf registration statement on Form F-3, which was declared effective by the SEC on January 26, 2024. Maxim Group is serving as the sole placement agent for the offering. The company will file a prospectus supplement related to the offering with the SEC.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a $4.4 million registered direct offering of 55,200,000 Ordinary Shares. The shares are being sold at $0.08 per share to several institutional investors. The offering is expected to close around January 7, 2025, subject to customary closing conditions.
Maxim Group is serving as the sole placement agent for the offering. The shares are being offered through a shelf registration statement on Form F-3 that was declared effective by the SEC on January 26, 2024. The final proceeds will be determined after deducting placement agent fees and other offering expenses.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock failed to maintain a closing bid price of at least $1.00 for 30 consecutive business days from July 25 to September 5, 2024. Blue Hat has until March 5, 2025, to regain compliance by having its stock close at or above $1.00 for a minimum of 10 consecutive business days. If unsuccessful, the company may be eligible for an additional compliance period, provided it meets certain criteria. Failure to comply could result in delisting from Nasdaq. The company's board will consider options to achieve compliance if necessary.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has executed a 1,000-kilogram gold delivery, marking the launch of its gold supply chain business. This follows a framework agreement signed in October 2023 with Macau Rongxin Precious Metals Technology. The purchase price was approximately $66.49 per gram, totaling about $66.49 million. BHAT plans to leverage this gold in its supply chain business, providing gold to refineries, wholesalers, and retailers. CEO Chen Xiaodong stated that this delivery represents a important advancement in the bulk commodity trading sector, underlining BHAT's commitment to expanding its international market presence and strengthening its financial position.
Blue Hat Interactive Entertainment Technology (NASDAQ:BHAT) is expanding into gold trading amid rising gold prices and economic optimism. The company has formed strategic partnerships with Sichuan Jinyinghe Industrial Co., in Shenzhen and GTC Group in Dubai. Blue Hat's subsidiary, Golden Alpha Strategy , has obtained a Dealers in Precious Metals and Stones Category A Registration from Hong Kong Customs and Excise Department.
Blue Hat plans to integrate artificial intelligence into its offerings, including an intelligent gold supply chain and recycling system, and a sophisticated gold derivatives trading platform. The company aims to generate revenue from various aspects of the gold supply chain, not just from buy-sell spreads. Blue Hat is targeting the Shenzhen Shuibei market, known as the 'World's Gem City,' which accounts for over 50% of China's domestic gold and jewelry wholesale market.
Blue Hat Interactive Entertainment Technology (Nasdaq: BHAT) and Sichuan Jinyinghe Industrial Co. have signed a framework cooperation agreement to establish a leading gold supply chain company. This collaboration aims to integrate industrial resources and international financial capital to address issues in the gold industry and promote innovation. With recent increases in gold reserves by central banks, the gold industry is poised for high-quality development. The new company will expand gold sourcing channels and offer leasing and consignment sales services. Blue Hat expects to capture over 10% of the Shenzhen Shuibei market within three years, achieving sales of over RMB 200 billion. The partnership will focus on business structure, operational procedures, and risk management to build a top-notch gold supply chain enterprise.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced that its subsidiary, Golden Alpha Strategy , has secured a Class A License from the Hong Kong Customs and Excise Department. This license enables the company to trade precious metals and stones, aligning with the regulatory measures to combat money laundering and terrorist financing, implemented on April 1, 2023. CEO Chen Xiaodong emphasized the significance of this license in fostering business transformation and international development. The license will also allow collaboration with Macau Rongxin Precious Metals Company to enhance the gold supply chain and recycling system. BHAT aims to leverage AI technology to optimize commodity trading, focusing on precious metals.
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