Blue Hat Interactive (NASDAQ: BHAT), a company expanding its business to commodity trading and aiming to become a leading intelligent commodity trader worldwide, received notification from the NASDAQ stock market that the company is not in compliance with the market’s minimum bid price requirement. According to the announcement, the guidelines require that the closing bid price for a company’s ordinary shares listed on NASDAQ be a minimum of $1, with failure to meet that guideline for 30 consecutive business days creating a “compliance deficiency.”

As gold prices approach the $2,600 per ounce mark, driven by a 23% surge this year and fueled by various economic factors, the gold sector is gaining renewed attention. August’s market volatility highlighted gold’s role as a safe-haven asset, offering stability amid stock market fluctuations. Additionally, central bank purchases and expectations of a weaker dollar due to potential rate cuts have further supported gold’s ascent.

Blue Hat Interactive (NASDAQ: BHAT), a company expanding its business to commodity trading and aiming to become a leading intelligent commodity trader worldwide, has officially launched its gold-supply business with the execution of a 1,000-kilogram gold delivery, valued at $66.49 million. According to the announcement, the delivery follows last year’s signing of a framework agreement with Macau Rongxin Precious Metals Technology Co. Ltd. and will enhance the company’s financial flexibility, leading to further growth and expansion within the precious metals market. BHAT anticipates providing the gold to refineries, wholesalers and retailers, thus generating revenue and establishing a strong presence in the gold sector.

HONG KONG, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology ("BHAT" or the "Company") (NASDAQ: BHAT) announced the execution of a 1,000-kilogram (approximately 2,204.62 pounds) gold delivery, officially marking the launch of its gold supply chain business. This delivery follows the framework agreement signed in October 2023 with Macau Rongxin Precious Metals Technology Co., Ltd. ("Macau Rongxin"), a company registered in Macau with registration number: 86918(SO) registered with the Macau Commercial Register.

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) is making significant strides in the gold market, showcasing how a company with roots in entertainment can pivot and disrupt an entirely different industry. By leveraging technological innovations and forming strategic partnerships, Blue Hat is positioning itself as a leader in the evolving gold supply chain and trading ecosystem, with the potential to become a pivotal player alongside established giants like Newmont (NYSE: NEM), Barrick Gold (NYSE: GOLD), Agnico Eagle Mines (NYSE: AEM), and Kinross Gold (NYSE: KGC).

Blue Hat (NASDAQ: BHAT) is emerging as a key player in the gold trading industry amid rising gold prices and economic optimism. Originally an entertainment company, Blue Hat is now focusing on innovations in the commodity trading arena. According to the announcement, the company is planning to integrate artificial intelligence to enhance its offerings, including an intelligence gold supply chain and recycling system and a sophisticated gold derivatives trading platform. Blue Hat also intends to earn from the buy-sell spreads as well as generate revenue from various aspects of the gold supply chain.

HONG KONG, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology (NASDAQ:BHAT) is emerging as a key player in gold trading industry. As reported by Reuters, since August 1st, 2024, gold prices have exhibited a mix of volatility and upward trends, influenced by various economic and geopolitical factors. Gold hit a notable high above $2,483 per ounce in July, supported by favorable market sentiment and political risks, indicating strong safe-haven demand​ while short-term corrections might occur due to various economic data releases and market dynamics, the medium to long-term outlook for gold remains bullish, driven by continued safe-haven demand and broader economic uncertainties.

Blue Hat (NASDAQ: BHAT) and Sichuan Jinyinghe Industrial Co. Ltd. announced the signing of a framework cooperation agreement to jointly establish a leading gold supply chain company. According to the announcement, the collaboration aims to integrate industrial resources and international financial capital to address various issues currently faced by the gold industry, promote transformation and innovation, and create a comprehensive, efficient gold supply chain ecosystem. “Collaborating with Jinyinghe, a company with many years of experience in gold trading and supply chain management, is another significant step following our acquisition of a Class A license as a precious metals and gemstone dealer from Hong Kong Customs,” said Blue Hat CEO Chen Xiaodong. “We will introduce international resources and work with Jinyinghe to open up gold circulation channels in relevant countries and regions, including but not limited to Southeast Asia and the Middle East. The successful operation of this project will enhance Blue Hat’s operational strength and market influence and provide an excellent platform and opportunity for participants in the gold business, effectively promoting the transformation of the gold industry.”

Blue Hat Interactive (NASDAQ: BHAT), a company expanding its business to commodity trading and aiming to become a leading intelligent commodity trader worldwide, announced that its wholly owned subsidiary, Golden Alpha Strategy Ltd., has been granted Dealers in Precious Metals and Stones Category A Registration by Hong Kong Customs and Excise Department. The company is expanding its business scope to bulk trading of gems and precious metals. The registration is part of a regulatory system implemented by the Hong Kong government and designed to combat money laundering and terrorist financing activities. BHAT is committed following all regulations and laws as it conducts and facilitates commodity trading of precious metals and stones in Hong Kong and internationally. “We are honored to receive this significant international license, marking a crucial step in our business transformation and international development,” said Blue Hat Interactive CEO Chen Xiaodong in the press release. “This not only demonstrates our commitment to our corporate transformation but also underscores our dedication to conduct international business while fully complying with local and international laws. Moving forward, we will actively expand our business in precious metals, striving to bring more returns to our investors.”

Blue Hat Interactive (NASDAQ: BHAT), a company expanding its business to commodity trading and aiming to become a leading intelligent commodity trader worldwide, is being spotlighted in a recent release by China Finance Net. According to the announcement, Blue Hat Interactive CEO Chen Xiaodong was featured in the interview, which included a variety of questions focused on the company’s business transition into commodity trading, specifically its focus on the gold sector. Other questions were about the company plans moving forward. “At present, our partners come from all over the world, including the Middle East (such as Dubai GTC) and Southeast Asia (such as Malaysia, Singapore, etc.),” said Blue Hat Interactive CEO Chen Xiaodong during the interview. “In the future, we will continue to expand our business map to Europe, North America and other countries and regions to achieve a globalized layout. In gold trading business, we plan to keep increasing our gold holdings. . . . In the gold derivates business, we will join forces with GTC and commit ourselves to building a high-end brand for digital trading of financial derivatives at the level of hundreds of billions or even trillions of dollars of annual trading volume. We look forward to realizing the steady growth and long-term development of our business through these strategic layouts.”

Blue Hat (NASDAQ: BHAT) today announced its entry into a letter of intent (the “LOI”) to acquire GTC Multi Trading DMCC (“GTCM”), a financial technology company registered in the United Arab Emirates. According to the LOI, BHAT plans to acquire, through multiple rounds, an aggregate of 60% of the shares of GTCM through the issuance of ordinary shares. “This partnership signifies a pivotal shift in our company’s strategy towards the fintech sector and represents a significant milestone in our integration of AI technology innovation with financial services,” said Chen Xiaodong, chief executive officer of BHAT. “The acquisition of GTCM marks the initial phase of our collaboration following the framework cooperation agreement with GTC Group LLC. We remain committed to further exploring AI applications in the financial industry, propelling our services and products towards an AI-driven future.”

Blue Hat (NASDAQ: BHAT) today announced that an independently developed artificial intelligence, digital person, “Aileen,” will serve as the company’s chief information officer (“CIO”). The development brings together two core technologies — a highly realistic digital person image and advanced language interaction capabilities — and is based on the company’s long-term technical buildup in the gaming field and in-depth application of market-leading third-party AI technology, marking an important step for BHAT in the field of AI application services. “Given today’s fast-changing AI technology, how to use AI to assist the company’s decision-making, and how to fully operate AI in business activities has become the key to the success of enterprises,” said Chen Xiaodong, CEO of BHAT. “In the future, there will be a number of billion- or even trillion-dollar AI application companies, and the winners of the AI revolution will unlikely be only the giants such as NVIDIA and Microsoft, but more likely to include also small and medium-sized companies that are able to fully utilize AI to iterate their products and services, which will also face historic opportunities.”

Blue Hat Interactive (NASDAQ: BHAT), a company of commodity trading in China, is reporting its audited financial results for fiscal year 2023, or the period ended Dec. 31, 2023. According to the report, the company saw a surge in revenue. Specifically, the company reported revenue of $73.68 million for the year, a 33-times increase over its 2022 revenues. The company noted that the increase is due to the significant expansion of its commodity trading business, specifically jewelry and gold trading. The report also noted that, despite the substantial revenue growth, the company saw a net loss of $21.72 million for FY 2023, primarily because of bad debts and asset impairment. “Our achievements in 2023 represent not only a breakthrough in financial data but also a resounding affirmation of Blue Hat’s business strategy transition,” said Blue Hat Interactive CEO Chen Xiaodong in the press release. “In 2024, we will continue leveraging on the technology and experience we have accumulated in past few years. We will deepen our commodity trading in jewelry, especially the diamond and gold trading, and meanwhile expanding online gold derivatives trading, which aim to deliver excellent performance and reward our investors. Furthermore, we are committed to embracing the era of artificial intelligence and inspired to set a new benchmark as a ‘smart’ gold trader.”

Blue Hat (NASDAQ: BHAT) has announced its shift into AI financial services. According to Dr. Deanna Liu, executive director of Golden Strategy Ltd, a wholly owned subsidiary of BHAT, this strategy is a proactive response to the growth in artificial intelligence technology and the evolving market dynamics. “We believe that the development of AI technology can be divided into three stages: infrastructure construction, the potential for revenue increase, and productivity enhancement. Since 2023, BHAT has undergone comprehensive restructuring, with AI finance being the new focus, responding to the tremendous change brought about by AI in the financial sector,” Dr. Liu said, further stating that the future of AI technology in the financial field will greatly impact lives of individuals and institutions. “We have always believed that AI should not be pursued solely for the sake of chasing high technology. Only by integrating AI with real-world scenarios can its effectiveness be fully realized. Both myself and BHAT hope to become leading promoters of this change.”

Blue Hat (NASDAQ: BHAT) and GTC Group LLC-FZ, a leading Dubai -based financial derivatives trading services company, today announced the official signing of a strategic partnership agreement, marking a strong alliance between the two parties in the field of financial technology. Under the agreement, BHAT will formally enter the field of financial services such as commodities, foreign exchange, stocks, indices, etc., while GTC Group will provide core operational services and is committed to jointly develop the financial derivatives trading market in the Middle East and North Africa. “Dr. Deanna Liu, executive director of Golden Strategy Ltd, a wholly owned subsidiary of BHAT, said at the signing ceremony that the cooperation with GTC not only marks the orderly implementation of the company’s transformation to AI services, but also accelerates the internationalization of BHAT,” reads the announcement.

Blue Hat Interactive (NASDAQ: BHAT), through its wholly owned subsidiary, has signed a framework agreement with Macau Rongxin Precious Metals Technology Ltd. According to the announcement, the agreement outlines plans to purchase 1,000 kilograms of gold. The company noted that gold is a well-recognized, time-tested financial approach to hedge against inflation, geopolitical turmoil and macroeconomic uncertainty because the precious metal historically has reduced yield risk. The metal also helps steady revenue growth. “This represents a major step forward in the jewelry (gems, semiprecious stones, precious stones, jade, etc.) and bulk commodity gold business for the company,” said Blue Hat Interactive chief operating officer Weicheng Pan in the press release. “Going forward, gold will become a vital aspect of BHAT’s current commodity trade business.”

Blue Hat Interactive (NASDAQ: BHAT) has completed the issue of $29.8 million of ordinary shares. According to the announcement, the company anticipates continued development of the commodities trading business, especially in trading gold and jewelry, which will create sustainable values for global shareholders. “The completion of this issuance marks a significant development for BHAT, continuing the company’s transformation to commodity trading since the third quarter of 2022,” said BHAT CEO Xiaodong Chen in the press release. “The company has appointed Mr. Pan Weicheng as the CSO in May 2023. Under the leadership of Mr. Pan, a new business system was established — commodity trading with artificial intelligence analysis. At the same time, BHAT has also divested its Variable Interest Entity (‘VIE’) structure within mainland China. These adjustments are strategic and enduring. BHAT will gradually shift towards international growth. In the future, BHAT plans to expand and shift its business’s focus to Southeast Asia and the United States. The presence and development of artificial intelligence is inevitable. Thus, utilizing AI technology to influence the existing commodity trading framework is at the core of our new strategy. We are enthusiastic about this forward-thinking endeavor. We envision a working model that is fully implemented and results in positive outcomes, which we have already begun to achieve in the past three quarters.”

Blue Hat Interactive (NASDAQ: BHAT), a leading communication services and internet data center (“IDC”) business provider, producer and developer, as well as an operator of mobile games and augmented reality (“AR”) education curricula and products in China, is reporting unaudited financial results. The results are for the second quarter 2022, or the three months ended June 30, 2022, and the first half of 2022, or the six months ended June 30, 2022. Highlights of the report include Q2 2022 total revenues of $1.7 million, gross profit of $1 million, loss from operations of $3.3 million and net loss from continuing operations of $3.4 million. First half 2022 numbers reached total revenues of $2 million, gross profit of $1.2 million, loss from operations of $6 million and net loss from continuing operations of $6.2 million. The company also reported $3 million in cash and cash equivalents as of June 30, 2022. The report noted that the global COVID-19 pandemic has negatively impacted the company’s financial performance. “In order to cope with the current situation of the economy environment, some adjustments have been made to the company’s business, and the company has suspended or reduced the AR Immersive Course (“ARIC”), game and communication business, which were severely affected by the COVID-19 pandemic,” said Blue Hat Interactive CEO Xiaodong Chen in the press release. “The company has increased the commodity supply chain commodity trading platform project and increased the breadth of the company’s business. At the same time, the company has increased the investment and development of some new projects such as new energy graphene, which will provide some foundation for the future development of the company, to grow the company steadily and maximize shareholder value.”

Blue Hat (NASDAQ: BHAT) recently announced that Fujian Blue Hat Group Co. Ltd, a wholly owned subsidiary, has acquired 100% equity interests of Xiamen Shengruihao Technology Co. Ltd., a company specialized in product supply chain services and integrated enterprise services. “I am glad to announce that the company has completed the acquisition of Shengruihao through Fujian Blue Hat,” said Chen Xiaodong, CEO of Blue Hat. “The turnover of Shengruihao is 45 million USD over six months. With the addition of Shengruihao, we estimate that it will create 45-70 million USD of annual revenue for the company in the future. I believe that Shengruihao’s outstanding achievements in commodity supply chain services can become a catalyst for Blue Hat’s future growth. With the acquisition of Shengruihao, the company will have stronger profitability and sustainable power. Our goal is to actively explore the market and improve the corporate image as well as the service quality. We will continue to look for acquisition opportunities to execute our expansion strategy and enhance our competitiveness in the market.”

Blue Hat (NASDAQ: BHAT) today announced its entry into an agreement with a leading game distributor, Xiamen Traveler Network Technology Co. Ltd. (“TravelerNetwork”). Under the joint operating agreement, TravelerNetwork will distribute Blue Hat’s proprietary games “cute monopoly” and “cute game box” worldwide. According to management commentary provided in the news release, “TravelerNetwork has excellent global market penetration, product distribution, marketing channels and cloud technology support services. We are confident in this joint operation with them to distribute two of our games. Based on TravelerNetwork’s over 10 million paid userbase worldwide, it can help us open up the overseas gaming market, to deliver improved business outcomes and returns to our investors.”

Blue Hat (NASDAQ: BHAT) today announced that its wholly owned subsidiary, Xiamen Duwei Consulting Management Co. Ltd, entered into a memorandum of understanding (“MOU”) with its shareholder of Xiamen Shengruihao Technology Co. Ltd. (“Shengruihao”) to acquire 100% of the equity interests of Shengruihao, a company specialized in product supply chain and integrated enterprise services. “I am glad to announce that the company has started the process to acquire 100% of the equity of Shengruihao through cash transaction. Right now, the transaction is undergoing the due diligence review. It is expected to close very soon,” said Chen Xiaodong, CEO of Blue Hat. “The annual turnover of Shengruihao is USD 45 million. After the successful acquisition of Shengruihao, we estimate that it will create a revenue of USD 45-70 million each year for the company in the future. I believe that Shengruihao’s outstanding achievements in commodity supply chain services can become a catalyst for the company’s future growth. With the acquisition of Shengruihao, the company will have stronger profitability and sustainable power to actively explore the market, establish the corporate image and improve the service quality. We will continue looking for acquisition opportunities to keep carrying out our expansion strategy and enhance our competitiveness in the market.”

Blue Hat Interactive (NASDAQ: BHAT), a leading communication services and internet data center (“IDC”) business provider, producer and developer, and an operator of mobile games and augmented reality (“AR”) education curricula and products in China, is planning the release of a new game. The company has created a simulated business strategy game, called Cute Monopoly; the game is designed for players worldwide and supports Chinese, English, Japanese, Korean and other languages. According to the company, players start the game as a “normal person” without money and then work to become a millionaire as they play the game. During the game, players’ fortunes grow as each player establishes their own business empires. The game features playing methods that allow players to rely on their own strategies to create and accomplish different money-making plans and companies. “In recent years, web games have developed rapidly all over the world, flocking to a number of simulated business web games,” said Blue Hat CEO Xiaodong Chen in the press release. “I firmly believe this simulated business strategy game developed by our company will create huge economic benefits for the company.”

Blue Hat (NASDAQ: BHAT) is a producer, developer and operator of augmented reality interactive entertainment games, toys and educational materials in China. The company today announced its entry into two securities purchase agreements with two accredited investors for the total sale of 1,000,000 ordinary shares, par value $0.01 per share, of the company (“ordinary shares”) at a price of US$3.60 per share. Per the announcement, the total offering is for US$3,600,000, of which Blue Hat intends to use the net cash proceeds for working capital and general corporate purposes. The first tranche of the offering in the amount of $1,440,000 is expected to close on or around July 13, 2022, while the second tranche for the remaining $2,160,000 is expected to close thereafter in July 2022.

Blue Hat (NASDAQ: BHAT), a producer, developer and operator of augmented reality interactive entertainment games, toys and educational materials in China, has announced its intention to offer, in an underwritten public offering, its ordinary shares and pre-funded warrants to purchase ordinary shares. The pre-funded warrants shall be offered at the same price per share as the ordinary shares, less the $0.01 per share exercise price of each pre-funded warrant. Blue Hat intends to use the net proceeds for working capital and general corporate purposes, which include, but are not limited to, advancing and diversifying the company’s product portfolio, and general and administrative expenses. Subject to market conditions, there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. The underwriter will be granted an overallotment option to purchase an additional 15% of the number of ordinary shares and/or pre-funded warrants sold for 45 days following closing. Aegis Capital Corp. is acting as the sole book-running manager for the offering.

Blue Hat Interactive (NASDAQ: BHAT), a leading communication services and internet data center (“IDC”) business provider, producer and developer, and an operator of mobile games and augmented reality (“AR”) education curricula and products in China, has regained compliance with NASDAQ minimum bid price requirement. The company was notified by the Listing Qualifications Department of Nasdaq Stock Market LLC, which now considers the matter closed. BHAT was initially informed by NASDAQ that it had failed to maintain a minimum bid price of $1 per share for 30 consecutive trading days in June of last year; the company was given two 180-day periods to regain compliance, with the second period ending on June 13, 2022. Last month, the company effected a 1-for-10 reverse stock split. The NASDAQ notification of regaining compliance was received on June 10, 2022, notifying the company that its ordinary shares posted a closing bid price at or greater than the $1 per share minimum requirement for the past 10 consecutive business days.