Welcome to our dedicated page for Blue Hat Interactive Entmt Tec news (Ticker: BHAT), a resource for investors and traders seeking the latest updates and insights on Blue Hat Interactive Entmt Tec stock.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) generates news that reflects its ongoing transformation into a gold-focused commodity trading and technology company. Historically active in AR interactive entertainment and communication services, Blue Hat’s recent announcements concentrate on physical gold acquisitions, trading volumes, and strategic moves in the precious metals sector.
News updates highlight the company’s procurement and holding of substantial physical gold, including a reported 1-ton position and additional purchases through share-settled gold purchase agreements. Releases also describe completed gold trading volumes in the hundreds of kilograms, illustrating how Blue Hat combines long-term gold holdings with active trading operations and related services.
Investors following BHAT news will find disclosures about the establishment of a Malaysian subsidiary in Penang to support expansion into the Southeast Asian gold market, as well as the development of a gold trading network spanning Hong Kong and Southeast Asia. Articles also cover the company’s cooperation with Axis Capital Group on a gold Real World Asset tokenization project, which aims to digitize fully reserved gold on blockchain infrastructure.
Regulatory and corporate developments are another key theme in Blue Hat’s news flow. The company has reported a 1-for-100 reverse stock split, Nasdaq minimum bid price compliance updates, adoption of a 2025 Equity Incentive Plan, governance changes such as the resignation of a director and joint CEO, and shareholder approvals for a merger with Lanjin Technology Co., LTD and share consolidations. For readers tracking BHAT, this news page aggregates these operational, strategic, and capital market updates in one place.
Summary not available.
Blue Hat Interactive Entertainment Technology (BHAT) reported disappointing financial results for the second quarter and first half of 2022. Total revenues fell to US $1.7 million, down 71.1% from the previous year, largely due to the adverse impact of COVID-19 lockdowns in China. The company posted a net loss from continuing operations of US $3.4 million in Q2, compared to a net income of US $0.7 million a year earlier. For the first half, revenues dropped 78.2% to US $2.0 million, with a net loss of US $6.2 million. As of June 30, 2022, cash reserves were US $0.3 million.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced on December 6, 2022, that it has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company failed to maintain a closing bid price of at least US$1.00 for 30 consecutive trading days, a requirement under Nasdaq Listing Rules. Blue Hat has until June 5, 2023, to regain compliance, during which its shares will continue to trade. The company plans to monitor its share price closely and consider options for achieving compliance if necessary.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced the acquisition of Xiamen Shengruihao Technology Co., Ltd. by its subsidiary, Fujian Blue Hat. This acquisition, completed recently, involves 100% equity interests in Shengruihao, a company specializing in supply chain services. Shengruihao reported turnover of 45 million USD over six months, with Blue Hat expecting revenue contributions of 45-70 million USD annually. CEO Chen Xiaodong emphasized this deal's potential to enhance profitability and support future growth strategies.
On September 20, 2022, Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a memorandum of understanding with Bigg World Pet Ltd. to act as a general agent for developing and operating strategy games like 'Mengqu Monopoly' in Southeast Asia. Bigg, known for its blockchain-driven O2O market, boasts over 10 million registered members in the region. CEO Chen Xiaodong emphasized that this partnership would enhance Blue Hat's market presence and operational capabilities across Southeast Asia.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a joint operating agreement with Xiamen Traveler Network Technology Co., Ltd. to distribute its proprietary games, "cute monopoly" and "cute game box," globally. TravelerNetwork, with over 10 million paying users across various regions, will have exclusive marketing and distribution rights for these games. This partnership aims to open up overseas gaming markets, enhancing business outcomes for Blue Hat.
Xiamen, China, Aug. 26, 2022 – Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced an agreement to acquire 100% of Xiamen Shengruihao Technology Co., Ltd., a firm specializing in product supply chain and integrated enterprise services. This acquisition, currently undergoing due diligence, is projected to add USD 45-70 million in annual revenue. CEO Chen Xiaodong highlighted that Shengruihao’s expertise could significantly enhance Blue Hat's profitability and market presence.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced the upcoming release of its simulated business strategy game, “Cute Monopoly”, which will support multiple languages including Chinese, English, Japanese, and Korean. Players start without money and work to establish business empires through strategic gameplay. CEO Xiaodong Chen expressed confidence in the game’s potential to generate significant economic benefits for the company, as web games continue to grow globally.
Blue Hat focuses on AR interactive entertainment games in China.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has entered into two Securities Purchase Agreements for the sale of 1,000,000 ordinary shares at $3.60 each, totaling $3.6 million. The first tranche of $1,440,000 is expected to close around July 13, 2022, with the second tranche of $2,160,000 closing later in July. Proceeds will be used for working capital and general corporate purposes. The Offering is conducted under the Company’s shelf Registration Statement with the SEC, with details available through their website.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced it will not proceed with its previously planned underwritten public offering of ordinary shares and pre-funded warrants. No securities were sold under the Company’s shelf registration statement (No. 333-249056) related to this offering. The decision highlights the Company's focus on maintaining its capital structure without dilution to existing shareholders. Blue Hat operates in the augmented reality interactive entertainment sector in China, developing mobile games and educational materials.