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Blue Hat Announces the Completion of Its Purchase of One Ton of Gold, Showcasing the Effectiveness of Its Strategic Positioning
Globenewswire· 2025-01-31 21:05
Core Insights - Blue Hat Interactive Entertainment Technology has completed the purchase of one ton of gold from Rongxin Precious Metal Technology Co., Ltd, finalizing the transaction through the issuance of ordinary shares [1] - The gold purchase was executed at a price of RMB 473.70 per gram (approximately US$1,900 per ounce), and with the gold delivery price exceeding US$2,780 per ounce at the beginning of 2025, the company's book assets have appreciated by nearly US$25 million [2] Strategic Positioning - The company has shifted its focus towards gold and supply chain businesses, validating its strategic moves over the past two years [2] - Blue Hat plans to increase gold reserves through strategic alliances with international partners, optimize supply chain operations via intelligent platform development, and promote technological innovation through blockchain-based trading platforms [3][4] Future Objectives - In 2025, the company aims to enhance its gold reserves, improve supply chain efficiency, and accelerate the digitization of gold trading [3][4] - The company remains committed to innovation and sustainable development, leveraging its growth and management capabilities to deliver long-term value to shareholders [5] Company Background - Blue Hat was previously involved in communication services and AR interactive entertainment but is now transitioning to become a leading intelligent commodity trader [6] - The company announced a strategic shift to an AI-driven financial services enterprise in March 2024, focusing on gold trading and commodity-related businesses [6] - Blue Hat has made significant strides in regulatory compliance, achieving Category A Dealer status in Precious Metals and Stones in June 2024, which supports its long-term development in the gold and commodities sector [6]
Blue Hat Announces Receipt of Nasdaq Delisting Notice Subject to Hearing Request
Globenewswire· 2025-01-28 21:05
Core Viewpoint - Blue Hat Interactive Entertainment Technology is facing potential delisting from Nasdaq due to non-compliance with listing rules, specifically the Low Priced Stocks Rule, after its stock price closed at $0.10 or less for ten consecutive trading days [1][2]. Group 1: Delisting Notification - On January 24, 2025, Blue Hat received a notification from Nasdaq regarding non-compliance with the Low Priced Stocks Rule [1]. - The company had previously been notified on September 6, 2024, for closing below $1.00 per share for 30 consecutive business days, which provided a compliance period until March 5, 2025 [2]. - The recent delisting determination has ended the previous compliance period prematurely due to the stock price issue [2]. Group 2: Appeal Process - The company intends to request a hearing to appeal the delisting determination, which will temporarily stay the suspension of its securities [3]. - If the appeal is not requested by January 31, 2025, trading of the company's shares will be suspended on February 4, 2025, and a Form 25-NSE will be filed to remove the securities from Nasdaq [4]. Group 3: Compliance Options - Blue Hat is exploring various options to regain compliance, including the possibility of a reverse stock split pending shareholder approval [5]. Group 4: Company Background - Blue Hat was previously engaged in communication services and the development of AR interactive entertainment games and educational materials in China [6]. - The company is now expanding into commodity trading, aiming to become a leading intelligent commodity trader globally [6].
Blue Hat Announces Pricing of $4.3 Million Registered Direct Offering
GlobeNewswire News Room· 2025-01-13 14:15
Group 1 - Blue Hat Interactive Entertainment Technology has entered into securities purchase agreements with institutional investors to sell 77,989,800 Ordinary Shares at an offering price of $0.055 per share [1][2] - The gross proceeds from this registered direct offering are estimated to be approximately $4.3 million before deducting fees and expenses [2] - The offering is expected to close on or about January 14, 2025, subject to customary closing conditions [2] Group 2 - The Ordinary Shares are being offered under a shelf registration statement on Form F-3, which was declared effective by the SEC on January 26, 2024 [3] - A prospectus supplement relating to the Ordinary Shares will be filed with the SEC [4] - Blue Hat was previously a provider of communication services and is now primarily engaged in commodity trading in China [5]
Blue Hat Announces Pricing of $3.9 Million Registered Direct Offering
Globenewswire· 2025-01-08 14:15
Core Viewpoint - Blue Hat Interactive Entertainment Technology has announced a registered direct offering of 55,950,000 Ordinary Shares at a price of $0.07 per share, aiming to raise approximately $3.9 million before expenses [1][2]. Group 1: Offering Details - The offering is expected to close on or about January 10, 2025, pending customary closing conditions [2]. - Maxim Group LLC is acting as the sole placement agent for this offering [2]. - The shares are being offered under a shelf registration statement on Form F-3, which was declared effective by the SEC on January 26, 2024 [3]. Group 2: Company Background - Blue Hat was previously involved in communication services and the development of AR interactive entertainment games, toys, and educational materials, but is now primarily engaged in commodity trading in China [5].
Blue Hat Announces Pricing of $4.4 Million Registered Direct Offering
Globenewswire· 2025-01-06 14:15
Core Viewpoint - Blue Hat Interactive Entertainment Technology has announced a registered direct offering of 55,200,000 Ordinary Shares at a price of $0.08 per share, aiming to raise approximately $4.4 million before expenses [1][2]. Group 1: Offering Details - The offering is expected to close on or about January 7, 2025, pending customary closing conditions [2]. - Maxim Group LLC is acting as the sole placement agent for this offering [2]. - The shares are being offered under a shelf registration statement declared effective by the SEC on January 26, 2024 [3]. Group 2: Company Background - Blue Hat was previously involved in communication services and the production of AR interactive entertainment games, toys, and educational materials, but is now primarily engaged in commodity trading in China [5].
蓝帽互动娱乐科技公司宣布执行6,649万美元的黄金交付
GlobeNewswire Inc.· 2024-08-29 12:30
Core Viewpoint - Blue Hat Interactive Entertainment Technology announced a significant increase in trading volume, with 1,000 shares traded at approximately $2,204.62, indicating a strong market interest in the company's stock [1]. Financial Performance - The stock price of Blue Hat Interactive was approximately $61.14 on October 10, 2023, and increased to about $80.61 by August 28, 2024, reflecting a notable rise in value [1]. - The trading price of BHAT shares was around $66.49, suggesting a robust performance in the market [1]. Market Activity - The company is experiencing heightened trading activity, which is expected to continue, indicating a positive outlook for future financial performance [1]. - The increase in trading volume is attributed to strong market interest and investor confidence in the company's prospects [1].
Blue Hat Announced Execution of $66.49 Million Gold Acquisition
GlobeNewswire News Room· 2024-08-29 12:30
Core Viewpoint - Blue Hat Interactive Entertainment Technology has officially launched its gold supply chain business with a significant gold delivery of 1,000 kilograms, marking a strategic move into the precious metals market [1][2][3] Summary by Sections Gold Delivery and Business Launch - The company executed a gold delivery of 1,000 kilograms (approximately 2,204.62 pounds), officially initiating its gold supply chain business [1] - This delivery follows a framework agreement signed in October 2023 with Macau Rongxin Precious Metals Technology Co., Ltd [1] Gold Pricing and Financial Implications - The spot price for gold increased from approximately $61.14 per gram in October 2023 to approximately $80.61 per gram as of August 28, 2024 [2] - The purchase price for the delivered gold was approximately $66.49 per gram, totaling around $66.49 million [2] Strategic Goals and Market Position - The company aims to leverage the gold acquired to provide to refineries, wholesalers, and retailers, generating revenue and establishing a strong presence in the gold business [2] - The CEO emphasized that this delivery represents a crucial advancement in bulk commodity trading and strengthens the company's financial position, anticipating further growth and opportunities [3] - The proceeds from the gold delivery are expected to enhance the company's financial flexibility for further expansion in the precious metals market [3]
Blue Hat Expands into Gold Trading with Strategic Partnerships As Gold Prices Rise Amid Economic Optimism
GlobeNewswire News Room· 2024-08-15 12:30
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 ...
Blue Hat and New Partner Plan Gold Supply Chain Business
Newsfilter· 2024-06-12 12:30
Core Viewpoint - Blue Hat Interactive Entertainment Technology and Sichuan Jinyinghe Industrial Co., Ltd. have signed a framework cooperation agreement to establish a leading gold supply chain company, aiming to integrate industrial resources and international financial capital to address challenges in the gold industry and promote innovation [1][2]. Industry Summary - The gold industry is experiencing a transition from rapid growth to high-quality development, with central banks increasing gold reserves, leading to rising gold prices [2]. - Challenges in the gold industry include low levels of scale and concentration, limited financing channels, poor operational standards, and a lack of credit data, which hinder healthy development [2]. Company Summary - The new company will utilize market-oriented operational methods to expand gold sourcing channels and provide services such as gold leasing and consignment sales, with expectations to capture over 10% of the Shenzhen Shuibei market share and achieve sales exceeding RMB 200 billion within three years [3]. - Blue Hat's management emphasizes the importance of this collaboration in enhancing operational strength and market influence, while also introducing international resources to open gold circulation channels in regions like Southeast Asia and the Middle East [4]. - Blue Hat is transitioning from a provider of communication services and AR interactive entertainment to becoming a leading intelligent commodity trader, leveraging its technological expertise and patented technology [5].
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) Subsidiary Golden Alpha Strategy Ltd Secures Class A License for Precious Metals and Gem Trading
Newsfilter· 2024-06-05 12:30
HONG KONG, June 05, 2024 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology, a NASDAQ listed company (hereinafter referred to as "BHAT"), recently announced that its wholly-owned Hong Kong subsidiary, Golden Alpha Strategy Ltd., has been granted Dealers in Precious Metals and Stones Category A Registration by Hong Kong Customs and Excise Department. This regulatory system, implemented by the Hong Kong government on April 1, 2023, aims to combat money laundering and terrorist financing activit ...