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XIAMEN, China - Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a $18.37 million market cap company previously known for its augmented reality (AR) interactive entertainment, games, toys, and educational materials, has announced a reverse stock split of its ordinary shares. According to InvestingPro data, the company’s stock has experienced significant volatility, declining over 70% year-to-date. The split, at a ratio of 1-for-100, is set to take effect on Monday, March 17, 2025, with trading on a split-adjusted basis to commence on the same day at market open.
Following the reverse stock split, every 100 shares of Blue Hat’s issued and outstanding ordinary shares, with a par value of $0.01 each, will be consolidated into one issued and outstanding ordinary share, now with a par value of $1. The total number of ordinary shares issued and outstanding before the split is 493,820,989. Currently trading at $0.04 per share, InvestingPro analysis suggests the stock is undervalued relative to its Fair Value. Discover more insights about undervalued stocks at Investing.com’s Most Undervalued Stocks. The company’s trading symbol on the Nasdaq Capital Market will remain as BHAT, and the new CUSIP number for the post-split shares will be G1329V 114.
No fractional shares will be issued in the reverse stock split. Shareholders who would otherwise hold a fractional share will have their shares rounded up to the nearest whole number. This action is designed to affect all shareholders uniformly and will not change any shareholder’s percentage interest in the company’s outstanding shares, except for minimal adjustments due to the rounding of fractional shares.
The decision for the reverse stock split was approved by both the board of directors and the shareholders of Blue Hat. The company is now aiming to expand its business into commodity trading, aspiring to become a leading intelligent commodity trader worldwide. While the company maintains a healthy current ratio of 5.88 and generates annual revenue of $40.46 million, InvestingPro data reveals a weak overall financial health score, which could impact its transformation efforts.
The information provided in this announcement is based on a press release statement from Blue Hat Interactive Entertainment Technology. Investors are reminded that forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties. Blue Hat’s actual results could materially differ from those anticipated in these forward-looking statements. For comprehensive financial analysis and additional insights, including 12 more exclusive ProTips about BHAT, visit InvestingPro.
In other recent news, Blue Hat Interactive Entertainment Technology has reported its unaudited financial results for the first half of 2024, providing insights into its financial performance. The earnings release, submitted via a Form 6-K filing with the SEC, is a key disclosure for stakeholders interested in the company’s financial health. In addition to its financial results, Blue Hat has announced two direct share offerings. The first offering aims to raise approximately $4.3 million through the sale of 77.99 million shares, while the second offering seeks to raise about $3.9 million from 55.95 million shares. Both offerings are facilitated by Maxim Group LLC under a shelf registration statement.
Meanwhile, Blue Hat has received a formal notice of delisting from Nasdaq due to non-compliance with listing requirements. The company is currently appealing the decision, with its securities remaining listed during the process. In other developments, Farmmi, Inc. has announced its Annual General Meeting for the fiscal year ended September 30, 2024. The meeting will present the company’s proxy statement, allowing shareholders to participate in key decisions. These recent developments reflect both companies’ ongoing efforts to maintain transparency and engage with investors.
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