Blue Hat Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock failed to maintain a closing bid price of at least $1.00 for 30 consecutive business days from July 25 to September 5, 2024. Blue Hat has until March 5, 2025, to regain compliance by having its stock close at or above $1.00 for a minimum of 10 consecutive business days. If unsuccessful, the company may be eligible for an additional compliance period, provided it meets certain criteria. Failure to comply could result in delisting from Nasdaq. The company's board will consider options to achieve compliance if necessary.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) ha ricevuto una notifica da Nasdaq riguardante la non conformit脿 al requisito del prezzo minimo delle azioni. L'azione della compagnia non 猫 riuscita a mantenere un prezzo di chiusura di almeno $1.00 per 30 giorni lavorativi consecutivi dal 25 luglio al 5 settembre 2024. Blue Hat ha tempo fino al 5 marzo 2025 per riconquistare la conformit脿, chiudendo le proprie azioni a $1.00 o pi霉 per un minimo di 10 giorni lavorativi consecutivi. In caso di insuccesso, la compagnia potrebbe avere diritto a un ulteriore periodo di conformit脿, a condizione di soddisfare determinati criteri. La mancata conformit脿 potrebbe comportare la delisting da Nasdaq. Il consiglio della compagnia considerer脿 le opzioni per raggiungere la conformit脿 se necessario.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) ha recibido una notificaci贸n de Nasdaq sobre el incumplimiento del requisito de precio m铆nimo de oferta. La acci贸n de la compa帽铆a no logr贸 mantener un precio de cierre de al menos $1.00 durante 30 d铆as h谩biles consecutivos desde el 25 de julio hasta el 5 de septiembre de 2024. Blue Hat tiene hasta el 5 de marzo de 2025 para recuperar la conformidad cerrando sus acciones a $1.00 o m谩s durante un m铆nimo de 10 d铆as h谩biles consecutivos. Si no tiene 茅xito, la compa帽铆a puede ser elegible para un per铆odo adicional de cumplimiento, siempre que cumpla con ciertos criterios. El incumplimiento puede resultar en la exclusi贸n de Nasdaq. La junta de la compa帽铆a considerar谩 opciones para lograr la conformidad si es necesario.
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Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) a re莽u une notification de Nasdaq concernant le non-respect de l'exigence de prix d'offre minimum. L'action de la soci茅t茅 n'a pas r茅ussi 脿 maintenir un prix de cl么ture d'au moins 1,00 $ pendant 30 jours ouvrables cons茅cutifs, du 25 juillet au 5 septembre 2024. Blue Hat a jusqu'au 5 mars 2025 pour retrouver la conformit茅 en cl么turant son action 脿 1,00 $ ou plus pendant un minimum de 10 jours ouvrables cons茅cutifs. En cas d'茅chec, l'entreprise pourrait 锚tre 茅ligible 脿 une p茅riode de conformit茅 suppl茅mentaire, 脿 condition de r茅pondre 脿 certains crit猫res. Le non-respect pourrait entra卯ner une radiation de Nasdaq. Le conseil d'administration de la soci茅t茅 envisagera des options pour atteindre la conformit茅 si n茅cessaire.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) hat eine Benachrichtigung von Nasdaq 眉ber die Nichteinhaltung der Mindestgebotsanforderung erhalten. Die Aktie des Unternehmens konnte den Schlusskurs von mindestens $1.00 眉ber 30 aufeinanderfolgende Gesch盲ftstage vom 25. Juli bis zum 5. September 2024 nicht aufrechterhalten. Blue Hat hat bis zum 5. M盲rz 2025 Zeit, die Konformit盲t wiederherzustellen, indem der Schlusskurs der Aktien 眉ber $1.00 f眉r mindestens 10 aufeinanderfolgende Gesch盲ftstage liegt. Sollte dies nicht gelingen, k枚nnte das Unternehmen Anspruch auf eine zus盲tzliche Konformit盲tsfrist haben, sofern bestimmte Kriterien erf眉llt sind. Ein Vers盲umnis k枚nnte zu einer Delisting von Nasdaq f眉hren. Der Vorstand des Unternehmens wird gegebenenfalls Optionen zur Erreichung der Konformit盲t in Betracht ziehen.
- None.
- Stock price below $1.00 for 30 consecutive business days
- Risk of potential delisting from Nasdaq if compliance is not achieved
- Possible need for measures to artificially boost stock price
Insights
Blue Hat's receipt of a Nasdaq notification regarding minimum bid price deficiency is a significant concern for investors. The company's stock has been trading below the required
The 180-day compliance period until March 5, 2025, provides a window for recovery, but achieving a sustained
The Nasdaq notification triggers important regulatory considerations for Blue Hat. While the initial 180-day compliance period offers some flexibility, the company must navigate complex listing requirements to maintain its Nasdaq presence. Key legal points include:
- Potential for an additional compliance period if specific conditions are met
- Risk of accelerated delisting if the stock price falls to
$0.10 or below for ten consecutive trading days - Option to appeal a delisting decision to a Nasdaq hearing panel
These regulatory aspects underscore the critical nature of Blue Hat's situation and the need for proactive measures to address the bid price deficiency promptly.
Blue Hat's bid price deficiency reflects broader market sentiment and liquidity concerns. The extended period of low stock price suggests investors may have lost confidence in the company's growth prospects or financial stability. To regain compliance, Blue Hat needs to:
- Improve financial performance and communicate a clear turnaround strategy
- Enhance investor relations to rebuild market confidence
- Consider strategic alternatives to boost shareholder value
The company's ability to address these challenges will be important for its future on Nasdaq. Investors should watch for signs of operational improvements or strategic initiatives that could positively impact market perception and stock valuation.
XIAMEN, China, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology (鈥淏lue Hat鈥� or the 鈥淐ompany鈥�) (NASDAQ: BHAT), today announced that on September 6, 2024, it has received a notification letter from The Nasdaq Stock Market LLC (鈥淣asdaq鈥�) notifying the Company that it is not in compliance with the minimum bid price requirement from July 25, 2024 through September 5, 2024, as set forth in Nasdaq Listing Rules 5550(a)(2), which require that the closing bid price for the Company鈥檚 ordinary shares listed on Nasdaq be maintained at a minimum of US
The notification has no immediate effect on the listing of the Company鈥檚 ordinary shares on Nasdaq. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until March 5, 2025 (the 鈥淐ompliance Period鈥�), to regain compliance with the minimum bid price requirement, during which time the Company鈥檚 ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before the end of the Compliance Period, the bid price of the Company鈥檚 ordinary shares closes at or above US
The Company intends to monitor the closing bid price of its ordinary shares during the Compliance Period. In the event the Company is not eligible for additional time to regain compliance with the Nasdaq requirements at the end of the Compliance Period, the Company鈥檚 Board of Directors will consider options that may be available to achieve compliance.
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鈥檚 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鈥檚 SEC filings. These risks and uncertainties could cause the Company鈥檚 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:
FAQ
What is the minimum bid price requirement that BHAT failed to meet?
How long does BHAT have to regain compliance with Nasdaq's minimum bid price requirement?
What happens if BHAT doesn't regain compliance by March 5, 2025?
How can BHAT regain compliance with Nasdaq's minimum bid price requirement?
