Blue Hat Interactive Entertainment Technology NT 20-F, filed Apr 29, 2022
Blue Hat Interactive Entertainment Technology (BHATF)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
| (Check One): | ☐ Form 10-K ☒ Form 20-F ☐ Form 11-K ☐ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR | |||
| For Period Ended: December 31, 2021 | ||||
| ☐ Transition Report on Form 10-K | ||||
| ☐ Transition Report on Form 20-F | ||||
| ☐ Transition Report on Form 11-K | ||||
| ☐ Transition Report on Form 10-Q | ||||
| For the Transition Period Ended: | ||||
Read Instruction (on back page) Before Preparing Form. Please Print or Type. Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART I — REGISTRANT INFORMATION
| Blue Hat Interactive Entertainment Technology |
| Full Name of Registrant |
| N/A |
| Former Name if Applicable |
| 7th Floor, Builing C, No. 1010 Anling Road |
| Address of Principal Executive Office (Street and Number) |
| Huli District, Xiamen, China 361009 |
| City, State and Zip Code |
PART II — RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
| (a) | The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; | |
☒ |
(b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
| (c) | The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART III — NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Blue Hat Entertainment Technology (the “Registrant”) is filing this Notification of Late Filing on Form 12b-25 with respect to its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 (the “Form 20-F”). The compilation, dissemination and review of the information required to be presented in the Form 20-F for the relevant period, including, without limitation, the financial statements to be included therein, has imposed time constraints that have rendered timely filing of the Form 20-F impracticable without undue hardship and expense to the Registrant. The Registrant undertakes the responsibility to file, and anticipates that it will file, the Form 20-F no later than fifteen days after its original prescribed due date.
PART IV — OTHER INFORMATION
| (1) | Name and telephone number of person to contact in regard to this notification |
| Xiaodong Chen | +86 | 592-228-0081 | ||
| (Name) | (Area Code) | (Telephone Number) |
| (2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s). |
| ☒ Yes ☐ No | |
| (3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? |
| ☒ Yes ☐ No | |
| If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. | |
The Registrant expects there will be significant changes to its revenue, gross profit, operating expenses and net income for the fiscal year ended December 31, 2021, as compared to the information provided in its Annual Report on Form 20-F for the fiscal year ended December 31, 2020.
For example, (i) the Registrant’s revenue for the year ended December 31, 2021 is expected to be $17,922,197, as compared to revenue of $7,824,604 for the year ended December 31, 2020, an increase of $10,097,593, or 129.0%, (ii) the Registrant’s gross profit for the year ended December 31, 2021 is expected to be $8,963,824, representing a change of $12,329,830 or 366.3%, as compared to gross loss of $3,366,006 for the year ended December 31, 2020, (iii) the Registrant’s total operating expense is expected to be $61,160,849 for the year ended December 31, 2021, as compared to $5,050,074 for the year ended December 31, 2020, an increase of $56,110,775 or 1,111.1%, (iv) the Registrant’s loss from operations is expected to be $52,197,025 for the year ended December 31, 2021, as compared to $8,416,080 for the year ended December 31, 2020, an increase of $43,780,945 or 520.2%, (v) the Registrant’s total other expense, net, is expected to amount to $455,250 for the year ended December 31, 2021, as compared to total other income, net, of $1,464,604 for the year ended December 31, 2020, a change of $1,919,854, or 131.1% and (vi) the Registrant’s total net loss attributed to the Registrant is expected to be $49,489,390 for the year ended December 31, 2021, as compared to total net income attributed to the Registrant of $8,169,613 for the year ended December 31, 2020, a change of $57,659,003, or 705.8%.
Blue Hat Interactive Entertainment Technology
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 29, 2022 | By: | /s/ Xiaodong Chen | |
| Xiaodong Chen | |||
| Chief Executive Officer | |||