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XIAMEN, China - Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a micro-cap company with a market capitalization of $9.53 million specializing in augmented reality (AR) interactive entertainment, has announced its return to compliance with Nasdaq’s minimum bid price requirement. According to InvestingPro analysis, the stock is currently trading below its Fair Value, despite showing high price volatility. The Nasdaq Stock Market LLC confirmed the company’s compliance in a letter received by Blue Hat on April 2, 2025.
The issue began on September 6, 2024, when Nasdaq notified Blue Hat that its securities had not met the minimum bid price of $1.00 per share for 30 consecutive business days, violating Listing Rule 5550(a)(2). The company was initially given until March 5, 2025, to address the deficiency. However, a delisting determination was issued on January 24, 2025, after the bid price of Blue Hat’s securities fell to $0.10 or less for ten consecutive trading days. InvestingPro data reveals the stock has experienced a significant 98% decline over the past year, with revenue dropping 23% in the last twelve months.
In response, Blue Hat appealed the delisting decision, receiving an extension until March 31, 2025, to remedy the minimum price issue. The company successfully demonstrated a closing bid price of $1.00 or more per share for ten consecutive trading days as of March 28, 2025, leading to the restoration of compliance.
As part of the reinstatement, Blue Hat will undergo a one-year monitoring period ending on April 2, 2026, to ensure ongoing compliance with the minimum bid price rule. Failure to maintain the required bid price for 30 consecutive trading days during this period will lead to a new delisting determination without the option for a compliance plan or additional time to regain compliance.
Blue Hat, previously known for its AR games, toys, and educational materials, has shifted its focus to commodity trading with the goal of becoming a leading intelligent commodity trader globally.
The information regarding Blue Hat’s regained compliance with Nasdaq’s listing requirements is based on a press release statement from the company.
In other recent news, Blue Hat Interactive Entertainment Technology has announced a reverse stock split at a ratio of 1-for-100, effective March 17, 2025. This move, approved by the company’s board and shareholders, aims to consolidate every 100 shares into one, with the trading symbol remaining unchanged on the Nasdaq Capital Market. Additionally, Blue Hat received a Nasdaq delisting notice due to non-compliance with listing requirements, prompting the company to request a hearing to appeal the decision. Blue Hat has also been active in raising capital, securing $4.3 million and $3.9 million through separate direct share offerings, with Maxim Group LLC acting as the placement agent. These funds are intended to support the company’s operational and growth initiatives as it transitions into commodity trading. Meanwhile, Farmmi, Inc. has scheduled its Annual General Meeting for the fiscal year ending September 30, 2024. The meeting will present the company’s proxy statement, allowing shareholders to participate in corporate decision-making. These developments reflect the companies’ ongoing efforts to adapt and address regulatory and financial challenges.
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