Blue Hat Interactive (NASDAQ: BHAT), a leading communication services and internet data center (“IDC”) business provider, producer and developer, as well as an operator of mobile games and augmented reality (“AR”) education curricula and products in China, is reporting unaudited financial results. The results are for the second quarter 2022, or the three months ended June 30, 2022, and the first half of 2022, or the six months ended June 30, 2022. Highlights of the report include Q2 2022 total revenues of $1.7 million, gross profit of $1 million, loss from operations of $3.3 million and net loss from continuing operations of $3.4 million. First half 2022 numbers reached total revenues of $2 million, gross profit of $1.2 million, loss from operations of $6 million and net loss from continuing operations of $6.2 million. The company also reported $3 million in cash and cash equivalents as of June 30, 2022. The report noted that the global COVID-19 pandemic has negatively impacted the company’s financial performance. “In order to cope with the current situation of the economy environment, some adjustments have been made to the company’s business, and the company has suspended or reduced the AR Immersive Course (“ARIC”), game and communication business, which were severely affected by the COVID-19 pandemic,” said Blue Hat Interactive CEO Xiaodong Chen in the press release. “The company has increased the commodity supply chain commodity trading platform project and increased the breadth of the company’s business. At the same time, the company has increased the investment and development of some new projects such as new energy graphene, which will provide some foundation for the future development of the company, to grow the company steadily and maximize shareholder value.”
To view the full press release, visit https://ibn.fm/wVll2
About Blue Hat Interactive Entertainment Technology
Blue Hat is a leading communication services and 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.
NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://ibn.fm/BHAT
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