Blue Hat (NASDAQ: BHAT), a leading communication services and Internet Data Center (“IDC”) business provider and developer and operator of mobile games and augmented reality (“AR”) education curriculum and products in China has received a notification letter from The Nasdaq Stock Market LLC. The letter informed Blue Hat that the company is not in compliance with Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A); these minimum bid price guidelines require that the closing bid price for ordinary shares listed on NASDAQ be maintained at a minimum of $1.00. Failure to do that for 30 consecutive and failure to meet it for 30 consecutive days constitutes a compliance deficiency. According to the letter, Blue Hat has 180 calendar days to regain compliance with the minimum bid price requirements; until then the company’s ordinary shares remain unaffected and will continue to trade. Both NASCAQ and Blue Hat will monitor the situation. Before Dec. 15, 2021, if the bid price of BHAT ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive business days, the company will have achieved compliance with the exchange’s minimum bid price requirement. If that doesn’t not happen, Blue Hat may be eligible for additional time to regain compliance or may be delisted from Nasdaq. The company noted that its Board of Directors will consider options if that should occur.
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About Blue Hat Interactive Entertainment Technology
Blue Hat is a leading communication services and Internet Data Center (“IDC”) business provider as well as 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 about the company, visit www.BlueHatGroup.com
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