Blue Hat Completes Major Share Issuance for Gold Acquisition
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Blue Hat Interactive Entertainment Technology (BHAT) has completed a major share issuance of 29,682,353 shares at $1.70 each to City Fields Enterprises Limited in exchange for 500 kilograms of gold valued at $50.46 million. This transaction highlights the company's strategic financial maneuvers. However, Spark's analysis indicates that BHAT is underperforming, facing significant financial challenges, including persistent losses and cash flow issues, leading to a negative investment outlook. The company, based in Xiamen, China, focuses on augmented reality interactive entertainment.
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