Blue Hat Interactive Entertainment Technology (BHAT) News

First Half of 2023 loss from operations of US$4.07 million, an increase of 69.79% from loss from continuing operations of US$2.40 million in the prior-year period

Yikes pump didnt last long

NEWS
Blue Hat Announces Financial Results for the First Half of 2023, Highlighted by 5,657.93% Increase in Revenues to $46.30 million
XIAMEN, China, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT), primarily a company of commodity trading in China, today announced its unaudited financial results for the six months ended June 30, 2023 (“First Half of 2023”).

First Half of 2023 Financial Highlights

First Half of 2023 total revenues of US$46.30 million, compared to US$0.80 million in the prior-year period, due to that increased commodity trading.
First Half of 2023 gross profit of US$0.08 million, a decreased of 70.87% from US$0.26 million in the prior-year period. This is due to the lower gross profit margin of mass goods due to greater fluctuations in purchasing and selling prices.
First Half of 2023 loss from operations of US$4.07 million, an increase of 69.79% from loss from continuing operations of US$2.40 million in the prior-year period.
Net loss from continued operation increased 77.52% to US$4.36 million for the First Half of 2023, from US$2.46 million in the prior-year period.
Net income from discontinued operation is US$4,894 for the First Half of 2023, comparing with the net loss from discontinued operation of US$3.71 million in the prior-year period.
US$0.13 million in cash and cash equivalents as of June 30, 2023.
Management Commentary

The COVID-19 outbreak since early 2020 has had a negative impact on the global economy and our financial performance has been negatively impacted. Mr. Xiaodong Chen, CEO of Blue Hat, stated, “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 the AR Immersive Course (ARIC), game and communication business, which were severely affected by the COVID-19 pandemic. The Company has been focusing on the commodity supply chain, commodity trading platform project and increasing the breadth of the Company’s business. At the same time, the Company has increased the investment and development in some new projects, which will provide more catalyst for the future development of the Company, to grow the Company steadily and maximize the value for the shareholders.”

Recent Operating Highlights

On March 31, 2023, Blue Hat closed a private placement of 4,000,000 ordinary shares, par value $0.01 per share (referred to hereinafter as the “ordinary shares”) at a price of $0.70 per share to one purchaser and its designated persons without a broker. The aggregate gross proceeds to the Company is approximately $2.80 million.
On May 23, 2023, the Company entered into a Consulting Service Agreement with Wei Deng (the “Consultant”). In consideration of the services to be provided by the Consultant to the Company for one year, the Company issued a total of 500,000 restricted shares of the Company ordinary shares at a price of $1.03 per share.
On June 8, 2023, Fujian Blue Hat Interactive Entertainment Technology Ltd., Fuzhou CSFCTECH Co. Ltd., Fujian Roar Game Technology Co. Ltd. and Fuzhou UC71 Co., Ltd. were deconsolidated from the Company as a result of the termination of the VIE agreements.
First Half of 2023 Results

Total revenues were US$46.30 million for the First Half of 2023, an increase of US$45.50 million, or 5,657.93%, compared to US$0.80 million in the prior-year period. It was due to the increase of commodity trading.

Revenues from sales of commodity trading were US$45.94 million for the First Half of 2023, compared to nil in the prior-year period.

Revenues from sales of information service were US$0.37 million for the First Half of 2023, compared to US$0.66 million in the prior-year period.

Revenues from sales of interactive toys (animation series) were nil for the for the First Half of 2023, compared to US$7,146 in the prior-year period.

Revenues from sales of interactive toys (game series) were nil for the First Half of 2023, compared to US$0.14 million in the prior-year period.

Gross profit decreased 70.87% to US$0.08 million for the First Half of 2023, from US$0.26 million in the prior-year period.

Total gross margin was 0.16% for the First Half of 2023, compared to 32.28% in the prior-year period.

Total operating expenses increased by US$1.49 million for the First Half of 2023, from US$2.65 million in the prior-year period, primarily as a result of increased bad debt expenses in the first half of 2023.

Loss from operations increased 69.79% to loss from operations of US$4.07 million for the First Half of 2023, from US$2.40 million in the prior-year period.

Net loss from continued operation increased 77.52% to net loss from continued operation of US$4.36 million for the First Half of 2023, from US$2.46 million in the prior-year period.

Net income (loss) from discontinued operation increased 100.13% to net income from discontinued operation of US$4,894 for the First Half of 2023, from net loss from discontinued operation of US$3.71 million in the prior-year period.

Basic loss per share from continued operation were US$0.36 for the First Half of 2023, compared to US$0.41 in the prior-year period.

Basic loss per share from discontinued operation were nil for the First Half of 2023, compared to US$0.46 in the prior-year period.

Balance Sheet Highlights

As of June 30, 2023, Blue Hat had cash and cash equivalents of US$0.13 million, working capital of US$4.86 million and total shareholders’ equity (excluding the non-controlling interest) of US$11.89 million, compared to cash and cash equivalents of US$0.07 million, working capital of US$4.12 million and total shareholders’ equity (excluding the non-controlling interest) of US$12.11 million, respectively, as of December 31, 2022.

During the First Half of 2023, the Company completed a private placement by issuing 4 million restrictive ordinary shares. Separate from the above transaction, the Company paid consulting services by issuing 0.5 million restrictive ordinary shares.

About Blue Hat

Blue Hat was formerly a provider of communication services and IDC business, as well as a producer, developer, and operator of AR interactive entertainment games, toys, and educational materials in China. Leveraging years of technological accumulation and unique patented technology, Blue Hat is expanding its business to commodity trading, aiming to become a leading intelligent commodity trader worldwide. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in its forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net




BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIES

INDEFATIGABLE DUMPING

Is this a cash deal or a stock deal?

1,000 Kilograms of Gold is Worth
U.S. dollars (USD) 63,341,793
Euros (EUR) 59,892,012
British pounds (GBP) 52,249,792
Canadian dollars (CAD) 87,136,889
Australian dollars (AUD) 99,887,901

With 57 million outstanding shares, every share is now backed by at least $1+ of Gold, if inflation increases the share value should increase accordingly.

$BHAT: Added here 10k today at $1.25


Read the chart................. watch what happens here



GO $BHAT

like TOP, b Hat on Top, TopBhat Bunny in Top Hat Year of Rabbit

MISSED THAT 100% POP

BW - Bruce Wayne - 2 ‘23 - BHAT

Bhatman symbol is a “letter W”, the 23rd letter of the alphabet, 2023, 6 month consolidation is completing this week, so this is the chance to fly:

Does not exist on the internet: Xiamen Shengruihao Technology Co., Ltd, no web presence, website or mention, it’s likely it was invented by blue hat, until they can prove it is tangible and relevant.

Boost back to 2.30 is possible on technical reversal, share dilution may prevent it from increasing

Have technicals become relevant again? Too much manipulation. Don't think recent volume is real enough for that low. Although could be possible if shorts attack again. They may not have the muscle to do that.

As for 30% high... I would be shocked if we did not see another pump & dump before next financials release. That's probably way low, but the price likely won't hold.

A close below the lower bollinger band yesterday on the six month chart could provide a breather from the selling, not guaranteed, watch for a chart reversal such as a strong close higher within the bollinger bands again. Could still go to .59 and the six month consolidation ends January 13, 2023, but a short term increase could occur here, maybe 30% chance of a reversal in my estimate.

My theory id that the seller of this acquisition was the purchaser of that last private issuance. If these transactions were combined it would effectively is a merger of the two companies.

They seem to be playing with news releases to manipulate the stock SP.

“with its shareholder of Xiamen Shengruihao Technology Co., Ltd. ”

So if I find a shareholder of any company I can sign a memorandum of understanding with the shareholder to buy the company. It makes no sense unless it is an attempt to prevent the gap fill at .59, the company can sell shares all the way to .59 to afford the 50 million dollar a year acquisition that likely will be cancelled, then they will take their money and live large.

Blue Hat Announced that the Company Signed a Memorandum of Understanding to Acquire 100% Equity of Shengruihao Technology
August 26 2022 - 08:30AM
GlobeNewswire Inc.
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Blue Hat Interactive Entertainment Technology ("Blue Hat" or "the Company") (NASDAQ: BHAT) announced that Xiamen Duwei Consulting Management Co., Ltd, a wholly owned subsidiary of the Company, signed a memorandum of understanding 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 services and integrated enterprise services.
Management Commentary
Mr. Chen Xiaodong, CEO of Blue Hat, said: “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. 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.”

About Blue Hat
Blue Hat is a leading communication services and IDC business provider and a producer, developer and operator of AR interactive entertainment games, toys and educational materials in China. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings, including its Annual Report on Form 20-F. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net



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1.00 to go to fill all gaps

.59 soon, fill the gap then announce a real product

I never pick an all-in SP. Just a starting point. Right now, I'm already buying because I expect a pump before the next short attack (assuming shorts recover - making slow progress).

Once that has cycled. Will probably re-start at $1.40s. Doubt they can get to .60 before 2022 earnings. If those earnings are bad, then remaining shorts will have a 100% gain.

I never pick an all-in SP. Just a starting point. Right now, I'm already buying because I expect a pump before the next short attack (assuming shorts recover - making slow progress).

Once that has cycled. Will probably re-start at $1.40s. Doubt they can get to .60 before 2022 earnings. If those earnings are bad, then remaining shorts will have a 100% gain.

Waiting for .59

Genius on management's part. They played short manipulators good; not losing sleep over that. I was already long with an average of $1.46 at that point. Bailed in the $3's and am now buying again.

You seem to be well versed in the situation. Hope you are utilizing that information well.

Now we really know why it was up 600%, Cute Monopoly (Cut ‘em, o no, poly):

“Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT) announced that the Company will soon release a simulated business strategy game, “Cute Monopoly”, to the world, which supports Chinese, English, Japanese, Korean and other languages.
In “Cute Monopoly”, players can realize their dream of becoming a millionaire. At the beginning, each of the players may be just a normal person without money. However, with continuous efforts, players’ fortune will grow rapidly and finally players will establish their own business empires. The whole game is very rich in playing methods, which allow players to rely on their own strategies to achieve a variety of money making plans, create more companies, and soon they will become a leading enterprise in the business community.

Management Commentary
Mr. Xiaodong Chen, CEO of Blue Hat, stated, “In recent years, web games have developed rapidly all over the world, flocking to a number of simulated business web games. I firmly believe this simulated business strategy game developed by our company will create huge economic benefits for the company.””

Prove with the actual release of the product that “cut ‘em, o no, poly” and the verbiage in this PR isn’t simply making fun of people who sold at .60 and hold/didn’t buy before the recent surge, they said “oh no” as “poly” (the SP) flew higher, “poly” being synonymous with a bird. Money making strategies like create a share registration then cancel it?

Yeah, it's a mess. But that's how it's done. Just gotta accept it or just not invest in any Chinese companies on a listed exchange.

If you don't like it, stick to ADR,s and buying foreign stock; if your broker allows; with a $50 fee + commission.

PR a product or service

“
We are a holding company incorporated in the Cayman Islands and are not a Chinese operating company. As a holding company with no material operations of our own, we conduct a substantial majority of our operations through our PRC subsidiaries, our variable interest entities, or VIEs, and subsidiaries of VIEs in the People’s Republic of China. We control and receive the economic benefits of our VIEs and their subsidiaries’ business operations through certain contractual arrangements. Our ordinary shares are shares of an offshore holding company instead of shares of our subsidiaries or VIEs in China. The VIE structure is used to replicate foreign investment in China-based companies where Chinese law prohibits direct foreign investment in our VIEs and their subsidiaries. As a result of our use of the VIE structure, you may never directly hold equity interests in our VIEs and their subsidiaries.

Because we do not directly hold equity interests in our VIEs and their subsidiaries, we are subject to risks and uncertainties of the interpretations and applications of PRC laws and regulations, including but not limited to, limitations on foreign ownership of Internet companies, regulatory review of overseas listing of PRC companies through special purpose vehicles, and the validity and enforcement of the contractual arrangements among WFOEs, our VIEs and their shareholders. We are also subject to the risks and uncertainties about any future actions of the PRC government in this regard that could disallow the VIE structure, which would likely result in a material change in our operations, and the value of our ordinary shares may depreciate significantly.




We are subject to certain legal and operational risks associated with being based in China. PRC laws and regulations governing our current business operations are sometimes vague and uncertain, and as a result these risks may result in material changes in the operations of our VIEs and their subsidiaries, significant depreciation of the value of our ordinary shares, or a complete hindrance of our ability to offer or continue to offer our securities to investors. Recently, the PRC government adopted a series of regulatory actions and issued statements to regulate business operations in China, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. As of the date of this prospectus supplement, our Company, our VIEs and their subsidiaries have not been involved in any investigations on cybersecurity review initiated by any PRC regulatory authority, nor has any of them received any inquiry, notice or sanction. As of the date of this prospectus supplement, there are currently no relevant laws or regulations in the PRC that prohibit companies whose entity interests are within the PRC from listing on overseas stock exchanges. However, since these regulatory actions and statements are newly published, official guidance and related implementation rules have not been issued. It is highly uncertain what the potential impact such modified or new laws and regulations will have on our daily business operations, the ability to accept foreign investments and our ability to continue our listing on an U.S. stock exchange.”

If only this company produced a product or provided a service to justify paying 2.88 for one share of what is effectively nothing.

Company has still provided zero reason to buy this stock

How do you take money? betting on BHAT which cancelled a share registration and still hasn’t said anything other than refilling it again for corporate purposes. How did you know this particular share registration cancellation would result in a 600% increase?

You sound like you just started trading. ?? have fun loosing money every year. I know people like you. I take $ from your kind yearly. ??

Who will lead under 3, .59 soon, the company filed its share registration after a pump, a classic theft after a ploy to raise the shareprice, shareholders seem to approve of the theft, but why.

Buy at 4 or 5$ big shot. We will lead under 3$ stay salty

Correction, gaps also exist at at 2.69 and 2.94, not 3.02 from previous post.

(1) Uvalde sounds like “you failed”
Uvalde incident occurred May 24, 2022

Bluehat sounds like “blew it”
Reverse split announced May 26, 2022

It is a major coincidence therefore that this company’s price antics began two days after the Uvalde incident.

(2) Yesterday it was announced that the video from the Uvalde incident would be released to the public.

Yesterday Bhat’s shareprice opened at 3.02 and surged to a shareprice of 4.10, (.01 cent less than the 411 “information numeric acronym”) on the same day a share offering was announced that artificially decreases the value of this company, which going by the latest news, is zero.

(3) The Uvalde incident used an AR-15, involved children and the police did not engage quickly enough, contrast that with the BlueHat company description :

“ About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company's interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users.”

(4) Gaps remain in the Uvalde story, Gaps in the Bhat chart exist at .59, .6950, .8601, 3.02,

I’ve proven a correlation between the Uvalde incident and the price movements of this stock, therefore the investment community requires an explanation from officials explaining why that correlation occurred. There is no positive news in this company from May 24 to today.

Shelf registration price went up? A shelf registration with multiple gaps below the price at time of offering and that many investors bought the stock ??? Investigate.

“900a ET 7/12/2022 - Globe Newswire
Blue Hat Interactive Entertainment Technology Announces Registered Direct Offering of Ordinary Shares

EQNX::TICKER_START (NASDAQ:BHAT), EQNX::TICKER_END Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) ("BHAT" or the "Company"), announces today that it entered into two (2) Securities Purchase Agreements with two accredited investors ("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 (the "Offering"). The total Offering are for US$3,600,000.

The Company intends to use the net cash proceeds from the Offering 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 and the second tranche of the Offering for the remaining $2,160,000 is expected to close thereafter in July 2022.

The Offering is being made pursuant to the Company's "shelf" Registration Statement on Form F-3 (File No. 333-249056), which was filed with the Securities and Exchange Commission ("SEC") and became effective on October 6, 2020. The Ordinary Shares are being offered only in the United States by the means of a prospectus supplement. The prospectus supplement and the accompanying prospectus relating to the registered direct offering is expected to be filed with the SEC on July 12, 2021. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained, when available, at the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are being offered only by means of a prospectus, including a prospectus supplement and accompanying base prospectus, forming a part of the effective registration statement.

The Company advises investors to review the full details of the transaction in the report on Form 6-K to be filed on July 12, 2021 with the SEC.”

This stock surged yesterday on the theft of a registered offering that previously sank the share price. Explain that if it isn’t money laundering.

I’d say Maybe reinvest in a real company with a product and no chart gaps but the money launderers probably aren’t going to make those go 600% higher on nothing

I’d say Maybe reinvest in a real company with a product and no chart gaps but the money launderers probably aren’t going to make those go 600% higher on nothing

That’s nice lol
I sold at $3.30 this morning and made more money.

The Biden Admin can’t investigate anything business related to China because of Hunter Biden’s business deals there, so that is a relevant parameter in all these Chinese stocks. The SEC goes to work everyday and says to themself, I can’t investigate China stocks for money laundering on zero or irrelevant news because of Hunter Biden, then they lean back in their chairs and think, “how screwed up is this country”? When the investigatory and policing authority’s just follow orders because they get paid by the order-givers then in the short term they will collect a paycheck but in the long term the country’s corruption level increases to Nazi Germany levels, call it U.S. hyperinflation of immorality alongside hyperinflation of prices. Everybody sees what is happening with just following orders in the United States, it is as bad as it was in the 1930s, never again? When the government finally screws up to the point where the policing authorities aren’t getting paid anymore, like when the Nazis escaped to Argentina leaving their screwed up looted society behind, then the policing authorities will care and say never again again until a new government starts paying them for their services, the idea that any group or laborers in history other than the knights of the Templar held some consistent morality that was more important to them than getting paid consistently is part of the current U.S. farce narrative.

This might not even be a buy at .59 because it’s not as if the only reason it gets back to that price is just to fill the gap, there has to be news when the gap fills but knowing this market lately there won’t be a PR until a week or two later when most people have given up except for insiders and others of knowledge,
That’s how to flush out weak hands and non believers but that strategy will also destroy all small time investors who aren’t insiders, soon the market will only be traded by insiders and money launderers and wealthy investors who can afford to gamble on gap plays or no PR 600% increases. The market might think it doesn’t need to create wealth for people other than those three investor categories, but it does. The SEC and others are supposed to investigate irregularities and report back on their findings but they don’t and that pattern of do nothing failure is why this market is in a bear market, pandemic and energy crisis at the same time.

Buy here at $2.73, sell over $3

Easy money

Stock price making higher highs and higher lows for the past few days, learn how to read charts.

I’ll wait for .59 since this company has no products to promote it will go back to that price and then they can announce and cancel a share registration again, why wouldn’t they do that over and over again? It’s infinite money.

But under $3 and sell over $3, repeat
Nobody got in at .59
Still easy money…

I guess I really bluehat by not investing at .59

A reverse split occurred in this stock because investors did not believe in it over a long period of time, so the SP dropped. Then, investors decided to believe in it again, and it went from .59 ——> 3.86 is 650% increase on the initial news that a share registration was cancelled. Cancelling a share registration made the long period of not believing in the stock disappear in one second. This sets a precedent throughout the market that if this exact scenario happens again then the next stock will also increase 650% and all gaps on every chart will be completely ignored for many sessions of trading without any fear it seems of those gaps filling during a bear market, absolutely bizarre. There are other stocks that have an actual product and gaining government contracts of epic amounts that for 10 days have declined in SP due to bear market conditions and gaps in the chart, maybe a small amount of doubt on the contract being approved, contrast that small amount of doubt, and a gap holding that SP down with the total gamble buying this stock is. When market valuations are inconsistently occurring then something invalid is occurring either in China or with the market makers or both that needs to be investigated and then explained to the investor community how the invalid process occurred.

So there has been buying for a few days now, when is the party meaning actual progress from this company other than cancelling a share registration

Added here at $2.50