Nasdaq to Delist Blue Hat; Company to Appeal “`
Blue Hat Interactive Entertainment Technology (Blue Hat or the Company) (NASDAQ: BHAT) announced that on January 24, 2025, Nasdaq Stock Market LLC (Nasdaq) notified it of non-compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the Low Priced Stocks Rule). This is due to the Company’s securities having a closing bid price of $0.10 or less for ten consecutive trading days (January 8-23, 2025). Nasdaq’s decision to delist Blue Hat’s ordinary shares from the Nasdaq Capital Market (the Delisting Determination) followed this non-compliance.
Previously, on September 6, 2024, Nasdaq had notified Blue Hat of non-compliance with Listing Rule 5550(a)(2) due to its bid price being below $1.00 for 30 consecutive business days. A 180-day compliance period was granted, expiring March 5, 2025. The Delisting Determination ended this period early because of the subsequent Low Priced Stocks Rule violation. Blue Hat has until January 31, 2025, to appeal the Delisting Determination to a hearing panel.
The Company intends to file this appeal before the deadline. This will temporarily halt the delisting and maintain its listing on the Nasdaq Capital Market pending the hearing.
Failure to appeal by January 31, 2025, will result in trading suspension on February 4, 2025, and the filing of Form 25-NSE with the Securities and Exchange Commission, removing the Company’s securities from Nasdaq.
Blue Hat is exploring options to regain compliance, including a potential reverse stock split requiring shareholder approval.
About Blue Hat
Blue Hat, formerly a provider of communication services and producer/developer/operator of AR interactive entertainment, is expanding into commodity trading, aiming for global leadership in intelligent commodity trading. More information is available at http://ir.bluehatgroup.com.
Forward-Looking Statements
This release contains forward-looking statements under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on current expectations and assumptions and are inherently uncertain. Investors should not over-rely on these predictions, which are current only as of today’s date. Various risks and uncertainties detailed in this release and the Company’s SEC filings could cause actual results to differ materially.
Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net