UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2024
Commission File Number 001-39001
Blue
Hat Interactive Entertainment Technology
(Translation of registrant’s
name into English)
7th Floor, Building C, No. 1010 Anling Road
Huli District, Xiamen, China 361009
(Address of principal executive office)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒
Form 40-F ☐
Entry into a Material Definitive Agreement
On August 29, 2024, Blue Hat Interactive Entertainment
Technology (“BHAT” or the “Company”) issued a press release announcing that on August 28, 2024, the Company has
entered into a purchase agreement (the “Purchase Agreement”) with Macau Rongxin Precious Metals Technology Co., Ltd. (“Macau
Rongxin”), a company registered in Macau with registration number: 86918(SO), pursuant to which Macau Rongxin has delivered to BHAT
1,000-kilogram (approximately 2,204.62 pounds) of gold. This Purchase Agreement and delivery follow the framework agreement BHAT and Macau
Rongxin signed on October 26, 2023.
The purchase price of the gold Macau Rongxin delivered
to BHAT is approximately $66.49 per gram, for a total purchase price of approximately $66.49 million. The Company is paying the purchase
price to Macau Rongxin in cash, over multiple installments. The Company expects to use the purchased gold in the development and expansion
of its gold supply chain business, providing gold to refineries, wholesalers, and retailers.
The closing of the purchase of gold according to the
Purchase Agreement is subject to the satisfaction or waiver of certain customary closing conditions, including BHAT’s testing of
the quality of the gold delivered. The Purchase Agreement contains customary representations, warranties and covenants of the parties.
Forward Looking Statements
This communication 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. Forward looking statements generally relate to future events or the Company’s future financial or operating performance.
In some cases, you can identify forward looking statements because they contain words such as “may,” “will,” “should,”
“expects,” “plans,” “anticipates,” “going to,” “could,” “intends,”
“target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,”
“potential” or “continue” or the negative of these words or other similar terms or expressions that concern the
Company’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this communication include, but
are not limited to, the potential closing of the transaction described in this communication, the timing of such closing, the potential
use of the proceeds, and the growth prospects of the Company. Such statements are based upon management’s current expectations and
current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all
of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual
results, performance or achievements to differ materially from those in the forward-looking statements. The forward looking statements
contained in this communication are also subject to other risks and uncertainties, including those more fully described in the Company’s
filings with the Securities and Exchange Commission (“SEC”), including in the Company’s Form 20-F for the year ended
December 31, 2023, and in its subsequent filings with the SEC, copies of which are available on our website and on the SEC’s website
at www.sec.gov. All information contained in this communication is based on information available to the Company as of the date hereof,
and the Company disclaims any obligation to update any such information, except as required by law.
This Form 6-K and Exhibit 99.1 to this Form 6-K shall
be deemed to be filed with the Securities and Exchange Commission and incorporated by reference into the Company’s registration
statement on Form F-3 (File No. 333-274893), and shall be a part thereof, to the extent not superseded by documents or reports subsequently
filed or furnished.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 11, 2024
| |
BLUE
HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY |
| |
|
| |
By: |
/s/
Xiaodong Chen |
| |
|
Name:
Xiaodong Chen |
| |
|
Title:
Chief Executive Officer |
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|
|
Exhibit 10.1
Sales Agreement
Party A (seller):
Address：
Contact Person：
Contact phone
number:
Party B (purchaser):
Address:
Contact Person:
Contact phone
number:
According to the provisions of
the Civil Code of the People’s Republic of China and relevant laws and regulations, Party A and Party B, based on the principles
of voluntariness, equality and fairness, and through friendly consultation between the two parties, have reached the following agreement
on the purchase of gold products from Party B to Party A, and have entered into the present agreement for mutual observance.
I. List of products purchased and sold
As mutually confirmed by Party
A and Party B, the details of the gold products purchased by Party B are as follows:
| Product |
fineness |
Weight (grams) |
Unit price (yuan/gram) |
Amount of goods (dollars) |
| gold bullion |
99.99% |
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| Total amount of goods： ¥ ，(Upper case) RMB yuan |
II.
Payment for goods and settlement of payments
1.
Total amount of goods
Party A and Party B confirm that the total
amount of the payment for this shipment is: ¥ （Upper case: RMB yuan）
。
2. Delivery and payment of goods
Party B shall pay the payment for
the goods to Party A in accordance with this Agreement, and the payment methods include but are not limited to stocks, accounts receivable
and so on.
After Party B receives the goods
delivered by Party A, Party B shall inspect the specification, weight and color of the goods, and Party B’s acceptance confirmation
shall be deemed to have completed the delivery of the goods after acceptance.
III. Designation of bank accounts by the parties
1. Party A’s account information
Bank account name：
Bank account number：
Account opening bank:
2. Party B’s account information
Bank account name:
Bank account number：
Account opening bank:
IV. Product acceptance
When Party A delivers the goods,
Party B accepts the gold products in accordance with this agreement. If there is any objection, it should be raised before signing the
acceptance, and after Party B signs the acceptance, it is regarded as the products are accepted. If Party B refuses to accept the goods
without reasonable reasons, it is regarded as Party B’s default. The total amount of goods and the total amount of payment shall
be subject to the actual acceptance. If A and B disagree on the color and weight of the delivered goods, it is agreed that the National
Jewelry and Jade Quality Supervision and Inspection Center will do a third-party inspection on the samples jointly designated by A and
B, and the report issued by the inspection department shall be the final test result.
V. Changes
to the agreement
During the term of the agreement,
if either party undergoes a change of circumstances (including, but not limited to, merger, demerger, reorganization of assets, change
of major shareholders or de facto controllers, deterioration of business conditions, change of ability to pay, etc.), the counterparty
shall have the right to request it to provide the appropriate written materials for clarification, and may, depending on the circumstances,
change the content of the agreement and enter into a supplemental agreement.
VI. Dispute resolution
Both parties in the process of
fulfillment of the agreement, such as the occurrence of disputes, can be resolved through consultation, the consultation fails, either
party can be sued in the people’s court in the location of the Party.
VII. validity
clause and others
1、This
agreement shall come into effect on the date when the legal representatives of A and B sign and stamp the official seal.
2、This
Agreement shall be executed in duplicate, one for each party, and shall have the same legal effect.
3、The
correspondence, faxes, telephone recordings, email records, microblogging records and related “warehouse receipt”, “gold
product acceptance confirmation”, etc. confirmed by both parties will be regarded as part of this agreement and have the effect
of the agreement.
4、Understanding
matters, both parties may sign a separate supplemental agreement by consensus; the supplemental agreement has the same legal effect as
this agreement.
(No text below)
Attachment: Confirmation of Acceptance
of Gold Products
Party A (stamp):
Legal representative (signature):
Date of signing:
Party B (stamp):
Legal representative (signature):
Date of signing:
Attachment：
Gold Product Acceptance Confirmation
To:
We have received the gold products
delivered by you according to the “No.”, the color of which is: , the total amount of kilograms (capitalized: kilograms).
We have counted and inspected the
above gold products delivered by your company, and their varieties, colors, specifications, quantities, packaging, etc. are in full compliance
with the agreement.
The aforesaid gold products were
delivered to us by your company on , .
| We hereby confirm. |
|
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Company (official stamp): |
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|
| |
|
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Legal representative (signature and stamp): |
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|
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Handler: |
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Date: |
4/4
EXHIBIT 99.1
Blue Hat Announced Execution of $66.49 Million Gold
Acquisition
Hong Kong, August 29th, 2024 —
Blue Hat Interactive Entertainment Technology (“BHAT” or the “Company”) (NASDAQ: BHAT) announced the execution
of a 1,000-kilogram (approximately 2,204.62 pounds) gold delivery, officially marking the launch of its gold supply chain business. This
delivery follows the framework agreement signed in October 2023 with Macau Rongxin Precious Metals Technology Co., Ltd. (“Macau
Rongxin”), a company registered in Macau with registration number: 86918(SO).
The spot price for gold at the time of the October
2023 framework agreement was approximately $61.14 per gram, while the spot price for gold as of August 28, 2024 is approximately $80.61
per gram. The purchase price of the gold delivered to BHAT is approximately $66.49 per gram, for a total purchase price of approximately$66.49
million. This acquisition is a strategic move to develop a gold supply chain business. BHAT plans to leverage this gold in gold supply
chain business, providing gold to refineries, wholesalers, and retailers, thereby generating revenue and establishing a robust presence
in the gold business.
Chen Xiaodong, CEO of BHAT, commented, “The
completion of this significant gold delivery represents a crucial advancement for BHAT in the bulk commodity trading sector. This milestone
not only underscores our commitment to expanding our presence in the international market but also strengthens our financial position.
We anticipate that this success will drive further growth and unlock additional opportunities for the Company.”
The Company believes that the proceeds from this delivery
will enhance its financial flexibility, enabling further expansion within the precious metals market. BHAT remains focused on innovation
and operational efficiency as it continues to explore new market opportunities to bolster its competitive standing.
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’s SEC filings, including
its Annual Report on Form 20-F. These risks and uncertainties could cause the Company’s actual results to differ materially from
those indicated in the forward-looking statements.
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