Current liabilities:
Short-term loans - banks $ 447,588 $ 473,825
Accounts payable 437,063 324,991
Other payables and accrued
liabilities 9,095,955 9,014,057
Other payables - related party 85,031 22,643
Operating lease liabilities -
current 10,850 11,261
Customer deposits 3,375 19,629
Taxes payable 788,575 841,334
Liability related to discontinued
operation 7,772,308 6,700,468
----------- -----------
Total current liabilities 18,640,745 17,408,208
----------- -----------
Other liabilities:
Operating lease liability 29,919 31,041
Convertible bonds payable 1,164,317 1,393,499
Long term payable -related party y 974,471 914,771
----------- -----------
Total other liabilities 2,168,707 2,339,311
----------- -----------
Total liabilities 20,809,452 19,747,519
=========== ===========
COMMITMENTS AND CONTINGENCIES
Shareholders' equity
Ordinary shares, $0.01 par value,
100,000,000 shares authorized,
14,598,583 shares issued and
outstanding as of June 30, 2023,
and 9,894,734 shares issued and
outstanding as of December 31,
2022 145,986 98,947
Additional paid-in capital 48,768,815 44,145,826
Statutory reserves 2,143,252 2,143,252
Retained earnings (39,481,333) (35,113,598)
Accumulated other comprehensive
income 310,028 834,513
----------- -----------
Total Blue Hat Interactive
Entertainment Technology
shareholders' equity 11,886,748 12,108,940
----------- -----------
Non-controlling interests 2,429,479 2,420,399
Total equity 14,316,227 14,529,339
----------- -----------
Total liabilities and
shareholders' equity $ 35,125,679 $ 34,276,858
=========== ===========
BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND
SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE
INCOME
For the Six Months Ended June 30,
-----------------------------------------
2023 2022
---------------------- -----------------
Revenues $ 46,304,236 $ 804,182
Cost of revenue 46,228,625 544,622
-------------- -------------
Gross profit 75,611 259,560
-------------- -------------
Operating expenses:
Selling 3,922 143,899
General and administrative 2,865,496 1,069,647
Research and development 1,273,215 1,441,273
-------------- -------------
Total operating expenses 4,142,633 2,654,819
-------------- -------------
Loss from operations (4,067,022) (2,395,259)
-------------- -------------
Other income (expense)
Interest income 5 200
Interest expense (291,703) (17,356)
Other finance expenses (11,099) (6,121)
Other income, net 6,386 5,723
-------------- -------------
Total other expense, net (296,411) (17,554)
-------------- -------------
Loss before income taxes (4,363,433) (2,412,813)
Provision for income taxes 116 45,289
-------------- -------------
Loss from Continuing
Operations (4,363,549) (2,458,102)
-------------- -------------
Discontinued Operations
Income (loss) from
discontinued operations 4,894 (3,707,361)
Less: Net income (loss)
attributable to
non-controlling interests 9,080 (922,670)
Net Loss attributable to
Blue Hat Interactive
Entertainment Technology (4,367,735) (5,242,793)
Other comprehensive loss
Net loss from continued
operations (4,363,552) (2,458,102)
Foreign currency
translation adjustment -
continued operations (372,369) (1,019,403)
-------------- -------------
Comprehensive loss -
continued operations $ (4,735,921) $ (3,477,505)
-------------- -------------
Net income (loss) from
discontinued operations 4,894 (3,707,361)
Foreign currency
translation adjustment -
discontinued operations (152,116) 51,435
Comprehensive loss -
discontinued operations (147,222) (3,655,926)
-------------- -------------
Comprehensive Income (Loss) (4,883,143) (7,133,431)
-------------- -------------
Less: Comprehensive income
(loss) attributable to
non-controlling interests 9,080 (922,670)
Comprehensive income
attributable to Blue Hat
Interactive Entertainment
shareholders (4,892,223) (6,210,761)
Weighted average number of
ordinary shares
Basic 12,052,427 6,021,612
Diluted 13,333,094 6,947,050
-------------- -------------
losses per share
Basic loss per share from
continued operation $ (0.36) $ (0.41)
Basic loss per share from
discontinued operation -- $ (0.46)
Diluted losses per share
Diluted loss per share from
continued operation $ (0.33) $ (0.35)
Diluted loss per share from
discontinued operation -- $ (0.40)
(END) Dow Jones Newswires
December 22, 2023 16:05 ET (21:05 GMT)
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