Blue Hat receives Nasdaq notification on bid price issue

On September 6, 2024, Blue Hat Interactive Entertainment Technology received a notification from Nasdaq regarding a deficiency in meeting the minimum bid price requirement. This notification indicated that the company's ordinary shares had not maintained a closing bid price of at least $1.00 from July 25, 2024, to September 5, 2024, which is a violation of Nasdaq Listing Rules. The company has a Compliance Period of 180 calendar days, ending on March 5, 2025, to rectify this issue and regain compliance. During this Compliance Period, Blue Hat's shares will continue to trade on the Nasdaq Capital Market. If the shares close at or above $1.00 for a minimum of 10 consecutive business days, Nasdaq will confirm compliance. Should the company fail to meet the requirement by the end of the Compliance Period, it may be eligible for an extension if it meets other listing criteria. The notification does not immediately affect the listing status of Blue Hat's shares, but it does highlight the importance of monitoring the closing bid price. If the shares fall to $0.10 or less for ten consecutive trading days, Nasdaq will issue a Staff Delisting Determination. The company plans to actively track its share price during this critical period. In light of these developments, Blue Hat's Board of Directors will explore options to ensure compliance if the company is not eligible for additional time. The situation underscores the challenges faced by companies in maintaining their listing status on stock exchanges.