Fujian Blue Hat Interactive Entertainment Technology (BHAT) 20-F 30 Apr 24 2023 FY Annual report (foreign) Financial data

Cover

Cover - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-39001
Entity Registrant Name	Blue Hat Interactive Entertainment Technology
Entity Central Index Key	0001759136
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	7th Floor
Entity Address, Address Line Two	Building C
Entity Address, Address Line Three	No. 1010 Anling Road Huli District
Entity Address, City or Town	Xiamen
Entity Address, Country	CN
Entity Address, Postal Zip Code	361009
Title of 12(b) Security	Ordinary Shares, par value $0.01 per share
Trading Symbol	BHAT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	58,398,281
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Name	OneStop Assurance PAC	Audit Alliance LLP
Auditor Location	Singapore	Singapore
Auditor Firm ID	6732	3487
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	7th Floor
Entity Address, Address Line Two	Building C
Entity Address, Address Line Three	No. 1010 Anling Road, Huli District
Entity Address, City or Town	Xiamen
Entity Address, Country	CN
Entity Address, Postal Zip Code	361009
City Area Code	+ 86
Local Phone Number	592-228-0081
Contact Personnel Name	Xiaodong Chen
Contact Personnel Email Address	ir@bluehatgroup.net

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 407,588	$ 69,273
Restricted cash	1,587	1,129
Inventories	17,545,153
Accounts receivable, net	15,157,384	9,170,996
Accounts receivable, related party	9,571
Other receivables, net	4,182,706	4,704,455
Other receivables, related party	1,941,723	1,427,829
Prepayments, net	36,588	80,834
Assets related to discontinued operation		6,077,554
Total current assets	39,282,300	21,532,070
Non-current assets:
Operating lease, right-of-use asset	2,353,083	40,596
Prepayments	2,388,435	2,495,570
Property, plant and equipment, net	3,544,751	3,817,015
Intangible assets, net		1,368,424
Long-term investments	1,694,269	1,722,999
Assets related to discontinued operation		3,300,184
Total non-current assets	9,980,538	12,744,788
Total assets	49,262,838	34,276,858
Current liabilities:
Short-term loans - banks	273,713	473,825
Taxes payable	805,577	841,334
Accounts payable	318,729	324,991
Other payables and accrued liabilities	4,027,883	9,014,057
Other payables - related party		22,643
Operating lease liabilities - current	235,470	11,261
Customer deposits	3,020	19,629
Liability related to discontinued operation		6,700,468
Total current liabilities	5,664,392	17,408,208
Non-current liabilities:
Operating lease liability	2,141,421	31,041
Long-term loans banks
Long-term loans – related party	834,950	914,771
Convertible notes payable		1,393,499
Total other liabilities	2,976,371	2,339,311
Total liabilities	8,640,763	19,747,519
Shareholder’s equity
Ordinary shares, $0.01 par value, 500,000,000 shares authorized, 58,398,281 shares issued and outstanding as of December 31, 2023, 9,894,734 shares issued and outstanding as of December 31, 2022	583,982	98,947
Additional paid-in capital	93,828,090	44,145,826
Statutory reserves	2,143,252	2,143,252
Retained earnings	(56,832,015)	(35,113,598)
Accumulated other comprehensive loss	898,766	834,513
Total Blue Hat Interactive Entertainment Technology shareholders’ equity	40,622,075	12,108,940
Non-controlling interests		2,420,399
Total Equity	40,622,075	14,529,339
Total liabilities and shareholders’ equity	$ 49,262,838	$ 34,276,858

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Ordinary shares par value	$ 0.01	$ 0.01
Ordinary shares authorized	500,000,000	500,000,000
Ordinary shares issued	58,398,281	9,894,734
Ordinary shares outstanding	58,398,281	9,894,734

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 73,686,733	$ 2,195,954	$ 12,139,500
Cost of revenue	(72,532,882)	(958,438)	(5,782,664)
Gross profit	1,153,851	1,237,516	6,356,836
Operating expenses:
Selling	(7,677)	(159,937)	(315,600)
Research and development	(2,570,158)	(2,734,982)	(11,233,806)
General and administrative expenses	(13,766,487)	(6,224,674)	(31,335,421)
Impairment loss	(13,693,305)	(33,397)	(14,632,931)
Total operating expenses	(30,037,627)	(9,152,990)	(57,517,758)
(Loss)/Income from operations	(28,883,776)	(7,915,474)	(51,160,922)
Other income (expense)
Interest income	7	374	156,038
Interest expense	(222,057)	(133,882)	(229,985)
Other finance expenses	(62,025)	(15,264)	(65,344)
Other income (expense), net	66,205	39,080	(191,499)
Total other expense, net	(217,870)	(109,692)	(330,790)
(Loss)/ income from Continuing Operations before income taxes	(29,101,646)	(8,025,166)	(51,491,712)
Provision for income taxes	(6,081)	(1,097,888)	(1,104)
(Loss)/ income from continuing operations	(29,107,727)	(9,123,054)	(51,492,816)
Discontinued Operations (Note 19)
Gain on disposal of discontinued operations	7,389,310		1,493,945
(Loss) from discontinued operations		(282,027)	(10,055,749)
Net Income (Loss)	(21,718,417)	(9,405,081)	(60,054,620)
Less: Net (loss) income attributable to non-controlling interest	(2,420,399)	(40,025)	(2,918,680)
Net (Loss) Income attributable to Blue Hat Interactive Entertainment Technology	(19,298,018)	(9,365,056)	(57,135,940)
Other comprehensive (loss) income
Net (loss)/ Income from continued operations	(29,107,727)	(9,123,054)	(51,492,816)
Foreign currency translation adjustment continued operation	(199,032)	(1,883,571)	651,272
Comprehensive (loss) income - continued operation	(29,306,759)	(11,006,625)	(50,841,544)
Income (loss) from discontinued operation	7,389,310	(282,027)	(8,561,804)
Foreign currency translation adjustment - discontinued operation	263,285	258,828	66,288
Comprehensive income (Loss) - discontinued operation	7,652,595	(23,199)	(8,495,516)
Comprehensive (loss) income	(21,654,164)	(11,029,824)	(59,337,060)
Less: Net (loss) income attributable to non-controlling interest	(2,420,399)	(40,025)	(2,918,680)
Comprehensive income (loss) attributable to Blue Hat Interactive Entertainment shareholders	$ (19,233,765)	$ (10,989,799)	$ (56,418,380)
Weighted average number of ordinary shares
Basic	29,722,950	7,639,482	5,053,727
Diluted	30,975,275	8,565,163	5,800,048
Earnings per share
Basic (loss) earnings per share from continued operation	$ (0.98)	$ (1.19)	$ (10.19)
Basic earnings per share from discontinued operation	0.33	(0.04)	(1.12)
Diluted Earnings per share:
Diluted (loss) earnings per share from continued operation	(0.98)	(1.19)	(10.19)
Diluted earnings per share from discontinued operation	$ 0.33	$ (0.04)	$ (1.12)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings Statutory Reserve [Member]	Retained Earnings Unrestricted [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 38,554	$ 23,466,482	$ 2,204,174	$ 31,387,398	$ 1,741,696	$ 111,404	$ 58,949,708
Beginning balances, shares at Dec. 31, 2020	3,855,369
Issuance of ordinary shares - cash	$ 13,450	11,903,355					11,916,805
Issuance of ordinary shares - cash, shares	1,345,000
Issuance of ordinary shares-conversion of debt	$ 1,570	756,580					758,150
Issuance of ordinary shares-conversion of debt, shares	157,014
Share based payment service	$ 250	155,575					155,825
Share based payment service, shares	25,000
Net loss from continued operation				(51,492,816)			(51,492,816)
Net loss from discontinued operation				(7,137,069)		(2,918,680)	(10,055,749)
Statutory reserves
Acquisition of Fresh Joy						5,379,104	5,379,104
Disposition of Discontinue operation			(60,922)	1,493,945	66,288	(111,404)	1,387,907
Foreign currency translation					651,272		651,272
Ending balance, value at Dec. 31, 2021	$ 53,824	36,281,992	2,143,252	(25,748,542)	2,459,256	2,460,424	17,650,206
Ending balances, shares at Dec. 31, 2021	5,382,383
Issuance of ordinary shares - cash	$ 784	87,808					88,592
Issuance of ordinary shares - cash, shares	78,400
Issuance of ordinary shares - prepayment for acquisition of assets	$ 10,000	3,510,000					3,520,000
Issuance of ordinary shares - prepayment for acquisition of assets, shares	1,000,000
Issuance of ordinary shares-conversion of debt	$ 4,147	252,668					256,815
Issuance of ordinary shares-conversion of debt, shares	414,786
Issuance of ordinary shares – cashless exercise	$ 2,705	(2,705)
Issuance of ordinary shares - cashless exercise, shares	270,492
Share based payment service	$ 21,400	2,426,150					2,447,550
Share based payment service, shares	2,140,000
Net loss from continued operation				(9,123,054)			(9,123,054)
Net loss from discontinued operation				(242,002)		(40,025)	(282,027)
Share-based payments - omnibus equity plan	$ 6,000	1,590,000					1,596,000
Share-based payments - omnibus equity plan, shares	600,000
Reverse split senders	$ 87	(87)
Reverse split senders, shares	8,673
Statutory reserves
Foreign currency translation					(1,624,743)		(1,624,743)
Ending balance, value at Dec. 31, 2022	$ 98,947	44,145,826	2,143,252	(35,113,598)	834,513	2,420,399	14,529,339
Ending balances, shares at Dec. 31, 2022	9,894,734
Issuance of ordinary shares - cash	$ 42,834	2,955,563					2,998,397
Issuance of ordinary shares - cash, shares	4,283,425
Issuance of ordinary shares-conversion of debt	$ 14,201	1,075,621					1,089,822
Issuance of ordinary shares-conversion of debt, shares	1,420,122
Issuance of common stock to pay for goods	$ 420,000	42,000,000					42,420,000
Issuance of common stock to pay for goods, shares	42,000,000
Share based payment service	$ 8,000	3,651,080					3,659,080
Share based payment service, shares	800,000
Net loss from continued operation				(29,107,727)			(29,107,727)
Statutory reserves
Disposition of Discontinue operation				7,389,310	263,285	(2,420,399)	5,232,196
Foreign currency translation					(199,032)		(199,032)
Ending balance, value at Dec. 31, 2023	$ 583,982	$ 93,828,090	$ 2,143,252	$ (56,832,015)	$ 898,766		$ 40,622,075
Ending balances, shares at Dec. 31, 2023	58,398,281

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (21,718,417)	$ (9,405,081)	$ (60,054,620)
Net income (loss) from discontinued operation	7,389,310	(282,027)	(8,561,804)
(Loss)/ income from continuing operations	(29,107,727)	(9,123,054)	(51,492,816)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation of property, plant and equipment	260,883	185,083	241,265
Amortization of intangible assets	159,579	169,149	1,557,016
Impairment of goodwill		3,681	14,537
Impairment of intangible assets	1,075,997		14,632,931
Impairment of Property, plant and equipment	17,308	29,716
Impairment of inventory	12,600,000
Interest expenses related to convertible note	146,322	100,314
Share-based payments	3,659,080	4,043,550
Issuance of common stock to pay for goods	42,420,000
Provision for doubtful accounts	10,246,270	(1,060,782)	(29,661,273)
Deferred income taxes			119,127
Changes in operating assets and liabilities:
Accounts receivable	(14,915,499)	4,762,503	9,091,390
Accounts receivables related party			1,906,101
Other receivables	(1,208,861)	385,779	24,850,497
Inventories	(17,545,153)	116,115	(41,460)
Prepayments	41,367	(773,671)	14,189,940
Operating lease assets	22,102	276	(13,025)
Accounts payable	(6,260)	(21,891)	134,526
Other payables and accrued liabilities	(4,986,175)	92,607	5,179,130
Customer deposits	(16,609)	12,549	5,532
Taxes payable	(35,756)	(395,191)	(5,337,785)
Net cash (used in) generated from operating activities - continued operation	(9,773,132)	(1,473,267)	(14,624,367)
Net cash (used in) generated from operating activities - discontinued operation	7,661,561	281,780	(5,488,297)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(3,429)	(140,962)
Proceeds from disposal of equipment		9,760	52,799
Purchase of intangible assets			(16,385,451)
Proceeds from disposal of intangible assets			12,985,106
Disposal of a subsidiary	(15,380)		(866,075)
Acquisition of subsidiaries, net of cash received		5	(162,326)
Net cash from investing activities – continued operation	(15,380)	6,336	(4,516,909)
Net cash from investing activities  – discontinued operation	0	0	(1,952)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of new shares	2,998,397	88,592	12,830,780
Gross proceeds from issuance of convertible note		1,550,000
Repayment of convertible note	(449,999)		(739,189)
Proceeds (Repayment) from other payables - related party		905,171	6,406
(Repayment) from loan payables - related party	(102,464)		(14,117)
Change in restricted cash	(1,587)	(1,129)
Repayments of short-term loans - banks	(138,393)		(4,663,292)
Net cash generated from financing activities – continued operation	2,305,954	2,542,634	7,420,588
Net cash generated from financing activities – discontinued operation	(52,322)	(11,960)	154,260
EFFECT OF EXCHANGE RATES ON CASH	210,505	(1,319,437)	1,439,535
NET CHANGES IN CASH AND CASH EQUIVALENTS	337,186	26,086	(15,617,142)
CASH AND CASH EQUIVALENTS, beginning of year	70,402	50,449	15,752,704
CASH AND CASH EQUIVALENTS, end of year	407,588	76,535	135,562
Less: cash and cash equivalents from the discontinued operations, end of year		(7,262)	(85,113)
CASH AND CASH EQUIVALENT, FROM THE CONTINUING OPERATIONS, end of year	407,588	69,273	50,449
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash and cash equivalents	407,588	76,535	135,562
CASH AND CASH EQUIVALENTS, end of year	407,588	76,535	135,562
Provision for doubtful trade receivables	(8,929,110)	(1,035,345)	(6,037,274)
Provision for doubtful other receivables	(1,207,145)	(22,869)	(13,484,319)
Reversal for doubtful prepayments	(110,014)	4,925	(10,166,240)
Allowance for inventory		(7,492)	26,561
(Reversal)/Provision for doubtful accounts	(10,246,269)	(1,060,781)	(29,661,272)
Cash paid for income tax	6,081	1,097,888	1,529,850
Cash paid for interest	222,057	133,882	229,985
SUPPLEMENTAL NON-CASH INVESTING INFORMATION:
Additional of operating lease, right-of-use asset	2,353,083	40,596	118,272
SUPPLEMENTAL NON-CASH FINANCING INFORMATION:
Operating lease liabilities	$ 235,470	$ 11,261	$ 57,645

ORGANIZATION AND PRINCIPAL ACTI

ORGANIZATION AND PRINCIPAL ACTIVITIES	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND PRINCIPAL ACTIVITIES	ORGANIZATION AND PRINCIPAL ACTIVITIES Blue Hat Interactive Entertainment Technology (“Blue Hat Cayman” or the “Company”) is a holding company incorporated on June 13, 2018, under the laws of the Cayman Islands. The Company has no substantive operations other than holding all of the outstanding share capital of Brilliant Hat Limited (“Blue Hat BVI”) established under the laws of the British Virgin Islands on June 26, 2018. Blue Hat BVI is also a holding company holding all of the outstanding equity of Blue Hat Interactive Entertainment Technology Limited (“Blue Hat HK”) which was established in Hong Kong on June 26, 2018. Blue Hat HK is also a holding company holding all of the outstanding equity of Xiamen Duwei Consulting Management Co., Ltd. (“Blue Hat WFOE”) which was established on July 26, 2018 under the laws of the People’s Republic of China (“PRC” or “China”) and its wholly owned subsidiary, Hunan Engaomei Animation Culture Development Co., Ltd. (“Blue Hat Hunan”) a PRC company, was established and engaged in designing, producing, promoting and selling interactive toys with mobile games features, online interactive educational program, original intellectual property and peripheral derivatives features worldwide. On November 13, 2018, Blue Hat Cayman completed a reorganization of entities under common control of its then existing shareholders, who collectively owned all of the equity interests of Blue Hat Cayman prior to the reorganization. Blue Hat Cayman, Blue Hat BVI, and Blue Hat HK were established as the holding companies of Blue Hat WFOE. On August 23, 2021, Fujian Blue Hat Group Co., Ltd (“Blue Hat Group”) which was the subsidiary of Blue Hat HK was established under the laws of the PRC. On February 2021, the Blue Hat WFOE acquired additional 51.5% of Fujian Youth Hand in Hand Educational Technology Co., Ltd (“Fujian Youth”), and Fujian Youth is owned 48.5% by Blue Hat Fujian. On June 2023, Blue Hat Fujian was disposed, and Fujian Youth is 100% owned by Blue Hat WFOE. On March 24 2021, a wholly owned subsidiary Fuzhou Qiande Educational Technology Co., Ltd (“Qiande”), a PRC company, was established under Fujian Youth. On February 20, 2021, the Company established its wholly owned subsidiaries, Xiamen Bluehat Research Institution of Education Co., Ltd (“Bluehat Research”). On November 15, 2021, the Company deregistered Shenyang Qimengxing Trading Co., Ltd. During 2021, the Company disposed Xunpusen (Xiamen) Technology Co., Ltd (“Xunpusen”), and Xiamen Jiuqiao Technology Co., Ltd (“Jiuqiao”). On October 17, 2021, the Company deregistered Chongqing Lanhui Technology Co. Ltd. On September 30, 2022, Blue Hat Group acquired 100% of Xiamen Shengruihao (“Shengruihao”) Technology Co., Ltd, a PRC company established on June 30, 2021. On May 10, 2022, the Company has authorized and approved a 1-for-10 reverse stock split of the Company’s authorized (issued and unissued) shares of ordinary shares, effective May 27, 2022. The reverse stock split would be reflected in December 31, 2023, December 31, 2022, and December 31, 2021 statements of changes in stockholders’ equity, and in per share data for all period presented. On April 3, 2023, Golden Strategy Ltd (“Golden strategy”) was established under the laws of British Virgin Islands. The Company has no substantive operations other than holding all of the outstanding share capital of Golden Alpha Strategy Limited (“Golden Alpha”) incorporated under the laws of Hong Kong on April 18, 2023 and Blue Hat Technology LLC. (“Blue USA”) incorporated under the laws of United States on July 21, 2023. On June 13, 2023, Chongqing Duwei Chuangda Electronic Technology Co., Ltd which was the subsidiary of Blue Hat WFOE was established under the laws of PRC. On July 5, 2023, Guangzhou Huangxin Enterprise Management Co., Ltd which was the subsidiary of Golden Alpha was established under the laws of PRC. Disposition of interactive toys and mobile game business in PRC On June 8, 2023, the Company disposed the variable interest entities and their subsidiaries, Fujian Blue Hat Interactive Entertainment Technology Ltd. (“Blue Hat Fujian”). The subsidiaries including Pingxiang Blue Hat Technology Co. Ltd. (“Blue Hat Pingxiang”), Fujian Lanyun Canghai Technology Co., Ltd (“Fujian Lanyun”). The VIEs and subsidiaries mainly operating in interactive toys and mobile game business in PRC, upon the disposition, the assets and liabilities are transferred to Blue Hat WOFE. On June 8, 2023, he Company also disposed another variable interest entities and their subsidiaries, Fujian Xinyou Technology Co., Ltd (“Xinyou Technology”), Fresh Joy Entertainment Limited (“Fresh Joy”), Hong Kong Xinyou Entertainment Company (“Xinyou Entertainment”), Fujian Roar Game Technology Co., Ltd (“Fujian Roar Game”) Fuzhou Csfctech Co., Ltd (“Fuzhou CSFC”) and Fuzhou UC71 Co., Ltd (“Fuzhou UC71”). The VIEs and subsidiaries mainly operating in interactive toys and mobile game business in PRC. The accompanying consolidated financial statements reflect the activities of Blue Hat Cayman and each of the following entities: Schedule of business activities Name Background Ownership Brilliant Hat Limited ● A British Virgin Islands company ● Incorporated on June 26, 2018 ● A holding company 100% owned by Blue Hat Interactive Entertainment Technology Blue Hat Interactive Entertainment Technology Limited ● A Hong Kong company ● Incorporated on June 26, 2018 ● A holding company 100% owned by Brilliant Hat Limited Xiamen Duwei Consulting Management Co., Ltd. ● A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”). ● Incorporated on July 26, 2018 ● Registered capital of $20,000,000 ● A holding company. 100% owned by Blue Hat Interactive Entertainment Technology Limited. Fujian Blue Hat Group Co. Ltd. ● A PRC limited liability company ● Incorporated on August 23, 2021. ● A holding company 100% owned by Blue Hat Interactive Entertainment Technology Limited. Fujian Youth Hand in Hand Educational Technology Co., Ltd. ● A PRC limited liability company, acquired on February 2021. ● Incorporated on September 18, 2017 ● Registered capital of $3,106,214 (RMB 20,100,000) ● Educational consulting service and sports related. 100% owned by Xiamen Duwei Consulting Management Co., Ltd. Hunan Engaomei Animation Culture Development Co., Ltd. ● A PRC limited liability company ● Incorporated on October 19, 2017 ● Registered capital of $302,540 (RMB 2,000,000) ● Designing, producing, promoting and selling animated toys with mobile games features, original intellectual property and peripheral derivatives features. 100% owned by Xiamen Duwei Consulting Management Co., Ltd. Xiamen Bluehat Research Institution of Education Co., Ltd ● A PRC limited liability company ● Incorporated on February 20, 2021 ● Information Technology consulting service 100% owned by Xiamen Duwei Consulting Management Co., Ltd. Fuzhou Qiande Educational Technology Co., Ltd. ● A PRC limited liability company ● Incorporated on March 24, 2021 ● Information Technology consulting service 100% owned by Fujian Youth Hand in Hand Educational Technology Co., Ltd. Xiamen Shengruihao Technology Co., Ltd ● A PRC limited liability company, acquired on September 30, 2022 ● Incorporated on June 30, 2021 ● Registered capital of $ 4,463,754 (RMB 30,000,000) ● Software development, animation design and web design 100% owned by Fujian Blue Hat Group Co. Ltd. Golden Strategy Ltd. ● A British Virgin Islands company ● Incorporated on April 3, 2023 ● Registered capital of $50,000 ● Gold derivative information service 100% owned by Blue Hat Interactive Entertainment Technology. Golden Alpha Strategy Limited ● A Hong Kong company ● Incorporated on April 18, 2023 ● Diamond trading 100% owned by Golden Strategy Ltd. Chongqing Duwei Chuangda Electronic Technology Co., Ltd. ● A PRC limited liability company ● Incorporated on June 13, 2023 ● Registered capital of $141,189 (RMB1,000,000) ● Technical development and service 100% owned by Xiamen Duwei Consulting Management Co., Ltd Guangzhou Huangxin Management Co.,Ltd ● A PRC limited liability company ● Incorporated on July 5, 2023 ● Registered capital of $1,000,000 ● Supply chain information for diamond trading 100% owned by Golden Alpha Strategy Limited Blue Hat Technology LLC ● A U.S.A limited liability company ● Incorporated on July 21, 2023 ● Logistic information service 100% owned by Golden Strategy Ltd.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the SEC. Discontinued operations On September 30, 2021, the Company entered into a share transfer agreement with a third party to sell Xunpusen (Xiamen) Technology Co., Ltd., pursuant to the terms of the Agreement, the buyer purchased 100% of the Company’s ownership of Xunpusen and 100% owned subsidiary Xingjuyun (Xiamen) Technology Co., Ltd. for a total price of $1,333,023, resulting in a gain on disposal of $ 683,688 On December 20, 2021, the Company sold 100% of the ownership of Xiamen Jiuqiao Technology Co., Ltd., and 100% owned subsidiaries to a third party for a total price of $8,368,930, resulting in a gain on disposal of $ 811,269 On November 15, 2021, Shenyang Qimengxing Trading Co., Ltd. (“Blue Hat Shenyang”) was deregistered, resulting in a loss on disposal of $ 1,012 On June 8, 2023, the Company disposed the variable interest entities and their subsidiaries, Fujian Blue Hat Interactive Entertainment Technology Ltd. (“Blue Hat Fujian”). The subsidiaries including Pingxiang Blue Hat Technology Co. Ltd. (“Blue Hat Pingxiang”), Fujian Lanyun Canghai Technology Co., Ltd (“Fujian Lanyun”). The VIEs and subsidiaries mainly operate in interactive toys and mobile game business in PRC, upon the disposition, the assets and liabilities are transferred to Blue Hat WOFE. On June 8, 2023, he Company also disposed another variable interest entities and their subsidiaries, Fujian Xinyou Technology Co., Ltd (“Xinyou Technology”), Fresh Joy Entertainment Limited (“Fresh Joy”), Hong Kong Xinyou Entertainment Company (“Xinyou Entertainment”), Fujian Roar Game Technology Co., Ltd (“Fujian Roar Game”) Fuzhou Csfctech Co., Ltd (“Fuzhou CSFC”) and Fuzhou UC71 Co., Ltd (“Fuzhou UC71”). The VIEs and subsidiaries mainly operate in interactive toys and mobile game business in PRC, the disposition resulting in a gain on disposal of $ 7,389,310 Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries, which include the wholly- foreign owned enterprise (“WFOE”) over which the Company exercises control and, when applicable, entities for which the Company has a controlling financial interest. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. Use of estimates and assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include the useful lives of plant and equipment and intangible assets, capitalized development costs, impairment of long-lived assets, allowance for doubtful accounts, revenue recognition, allowance for deferred tax assets and uncertain tax position, and inventory allowance. Actual results could differ from these estimates. Going Concern The Company’s financial statements are prepared assuming that the Company will continue as a going concern. The Company incurred operating loss from continuing operations of $ 29.11 9.77 The ability of the Company to continue as a going concern is dependent upon its ability to successfully execute its new business strategy and eventually attain profitable operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Foreign currency translation and transaction The reporting currency of the Company is the U.S. dollar. The Company in China conducts its businesses in the local currency, Renminbi (RMB), as its functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of income accounts is translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Translation adjustments included in accumulated other comprehensive income (loss) amounted to $ 898,766 834,513 2,459,256 7.08 6.96 6.38 7.04 6.70 6.45 Cash and restricted cash Cash and cash equivalents consist of cash on hand; demand deposits and time deposits placed with banks or other financial institutions and have original maturities of less than three months. Deposits in banks in the PRC are only insured by the government up to RMB500,000, and are consequently exposed to risk of loss. The Company believes the probability of a bank failure, causing loss to the Company, is remote. Cash that is restricted as to withdrawal for use or pledged as security is reported separately on the face of the consolidated balance sheets, and is not included in the total cash and cash equivalents in the consolidated statements of cash flows. Accounts receivable, net Accounts receivable include trade accounts due from customers. Accounts are considered overdue after 30 -180 days. In establishing the required allowance for doubtful accounts, management considers historical collection experience, aging of the receivables, the economic environment, industry trend analysis, and the credit history and financial conditions of the customers. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. As of December 31, 2023 and 2022, allowance for the doubtful accounts was $ 13,658,675 4,854,638 Other receivables, net Other receivables primarily include deposits for business acquisitions, setup of research center, advances to employees, and others. Management regularly reviews the aging of receivables and changes in payment trends and records allowances when management believes collection of amounts due are at risk. Accounts considered uncollectable are written off against allowances after exhaustive efforts at collection are made. As of December 31, 2023 and 2022, allowance for the doubtful accounts was $ 13,481,228 12,489,219 Inventories Inventories are comprised of diamonds held for resale and are stated at the lower of cost or net realizable value using the weighted average method. Cost is primarily determined using the weighted average cost on a first-in, first-out (“FIFO”) basis for all inventories. Management reviews inventories for obsolescence and cost in excess of net realizable value quarterly and records a reserve against the inventory when the carrying value exceeds net realizable value. Due to the Company’s inventory principally consisting of diamonds, the age of the inventories has limited impact on the estimated market value. The Company’s diamonds do not degrade in quality over time and diamond inventory generally consists of the diamond shapes and sizes commonly used in the jewelry industry. Product obsolescence is closely monitored and reviewed by management on an ongoing basis. Prepayments, net Current Prepayments are cash deposited or advanced to suppliers for future inventory purchases. This amount is refundable and bears no interest. For any advances to suppliers determined by management that such advances will not be in receipts of inventories or refundable, the Company will recognize an allowance account to reserve such balances. Management reviews its advances to suppliers on a regular basis to determine if the allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of December 31, 2023 and 2022, allowance for the doubtful accounts was $ 427,541 423,077 Non-current Non-current prepayment represents cash deposited or advanced for software development expenditure. This amount is refundable and bears no interest. As of December 31, 2023 and 2022, allowance for impairment loss was $ 7,824,549 7,857,703 Property and equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Schedule of estimated useful lives Category Depreciation method Estimated useful lives Building Straight-line 20 Electronic devices Straight-line 3 Office equipment, fixtures and furniture Straight-line 3 Automobile Straight-line 3 The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statements of income and comprehensive income. Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives. Intangible assets The Company’s intangible assets with definite useful lives primarily consist of software development costs, patents and licensed software. The Company amortizes its intangible assets with definite useful lives over their estimated useful lives and reviews these assets for impairment. The Company typically amortizes its intangible assets with definite useful lives on a straight-line basis over the shorter of the contractual terms or the estimated useful lives of five to ten years. Software development costs The Company follows the provisions of ASC 350-40, “Internal Use Software”, to capitalize certain direct development costs associated with internal- used software. ASC 350-40 provides guidance on capitalization of the costs incurred for computer software developed or obtained for internal use. The Company expenses all costs incurred during the preliminary project stage of its development, and capitalizes costs incurred during the application development stage. Costs incurred relating to upgrades and enhancements to the application are capitalized if it is determined that these upgrades or enhancements add additional functionality to the application. The capitalized development cost is amortized on a straight-line basis over the estimated useful life, which is generally five years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Research and development Research and development expenses include salaries and other compensation-related expenses to the Company’s research and product development personnel, as well as office rental, depreciation and related expenses for the Company’s research and product development team. The Company expenses all costs that are incurred in connection with the planning and implementation phases of development, and costs that are associated with maintenance of the existing websites or software for internal use. Business Combinations The Company applies the provisions of ASC 805, Business Combination Goodwill Goodwill represents the excess of the purchase consideration over the acquisition date amounts of the identifiable tangible assets acquired and liabilities assumed from the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries. Goodwill is not amortized but is tested for impairment if events or changes in circumstances indicate that it might be impaired. The company assessed qualitative factors to determine if it is necessary to perform quantitative assessment. In the qualitative assessment, the company considers factors such as macroeconomic conditions, industry and market considerations, overall financial performance, and other specific information related to the operations, business plans and strategies. Impairment for long-lived assets other Long-lived assets, including property and equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of December 31, 2023, 2022 and 2021, impairment for long-lived assets was $ 1,093,305 29,716 14,632,931 Long-term investments Long-term investments include cost method investment and equity method investments. Entities in which the Company has the ability to exercise significant influence, but does not have a controlling interest, are accounted for using the equity method. Significant influence is generally considered to exist when the Company has voting shares between 20% and 50%, and other factors, such as representation on the Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. Under this method of accounting, the Company records its proportionate share of the net earnings or losses of equity method investees and a corresponding increase or decrease to the investment balances. Dividends received from the equity method investments are recorded as reductions in the cost of such investments. The Company accounts for investments with less than 20% of the voting shares and does not have the ability to exercise significant influence over operating and financial policies of the investee using the cost method. The Company records cost method investments at the historical cost in its consolidated financial statements and subsequently records any dividends received from the net accumulated earrings of the investee as income. Dividends received in excess of earnings are considered a return of investment and are recorded as reduction in the cost of the investments. Long-term investments are evaluated for impairment when facts or circumstances indicate that the fair value of the long-term investments is less than its carrying value. Impairment is recognized when a decline in fair value is determined to be other-than- temporary. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include, but are not limited to, the: (i) nature of the investment; (ii) cause and duration of the impairment; (iii) extent to which fair value is less than cost; financial condition and near term prospects of the investments; and (v) ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. No event had occurred and indicated that other-than-temporary impairment existed and therefore the Company did not record any impairment charges for its investments for the years ended December 31, 2023, 2022 and 2021. Fair value measurement The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Our cash and cash equivalents and restricted cash are classified within level 1 of the fair value hierarchy because they are value using quoted market price. Revenue recognition The Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC 606). The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. Commodity Trading For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. The company recognize revenue from sale of Glycol when no control obtained throughout the transactions. Diamond Trading Net sales primarily consist of revenue from diamond, gemstone and jewelry retail sales and payment is required with a credit period of 180 days after delivery. Delivery is determined to be the time of pickup for orders picked up in showrooms, and for shipped orders, delivery is deemed upon shipment. A return policy of 2 days from when the item is picked up or ready for shipment is typically provided; no manufacturing warranty is provided on all jewelry, and diamonds/gemstones. Revenue is recognized when customer gains control over the goods, which is upon delivery. Information service This is a service which provides products and technical services to customers generating from third-party media channels (such as WeChat official accounts, mini programs, APP, Tik Tok, Toutiao, Quick Worker, etc.), as well as commissioned development services for interactive marketing tools, company then charged according to the information services that contracted with the customers. The sales revenue of the information service fee is recognized after the customer confirms the service provided is correct. The premise is: the customer has no uncertainty in the acceptance, the sales price is fixed and determinable when contracted, and the retrievability is also reasonably guaranteed. Sales of interactive toys The Company recognizes sales of interactive toys revenues upon shipment or upon receipt of products by the customer, depending on the terms, provided that: there are no uncertainties regarding customer acceptance; persuasive evidence of an agreement exists documenting the specific terms of the transaction; the sales price is fixed or determinable; and collectability is reasonably assured. Management assesses the business environment, the customer’s financial condition, historical collection experience, accounts receivable aging, and customer disputes to determine whether collectability is reasonably assured. The Company routinely enters into arrangements with its customers to provide sales incentives, support customer promotions, and provide allowances for returns and defective merchandise. Such programs are based primarily on customer purchases, customer performance of specified promotional activities, and other specified factors such as sales to consumers. The costs of these programs are recorded as sales adjustments that reduce gross sales in the period the related sale is recognized. The products sold in the PRC are subject to a Chinese value-added tax (“VAT”). VAT taxes are presented as a reduction of revenue. Mobile games Internal developed platform The Company operates the mobile games as live services that allow players to play for free. Within these games, players can purchase virtual currency to obtain virtual goods to enhance the game-playing experience. On the platform, players purchase virtual currency and/or virtual goods through various widely accepted payment methods offered in the games, including Alipay or WeChat and online bank transfer service providers. Advance payments from customers for virtual goods that are non-refundable that specify our obligations are recorded to deferred revenue. All other advance payments that do not meet these criteria are recorded as advances from customers. For virtual goods purchases upon immediately use with no future game-playing benefits, the Company recognizes such virtual goods purchase upon receipts of payment from the paying players. For virtual goods purchases for the conversion of future game-playing benefits or throughout the players’ playing life, the Company recognizes such virtual goods purchases ratably over the estimated average playing period of paying players for the applicable game, starting from the point in time when virtual items are delivered to the players’ accounts and all other revenue recognition criteria are met. The Company records revenue generated from mobile games on a gross basis as the Company is acting as the principal to fulfill all obligations related to the game operation. Fees paid to distribution channels and payment channels are recorded as cost of revenues. The Company considers the average period that players typically play the games and other game player behavior patterns, as well as various other factors to arrive at the best estimates for the estimated playing period of the paying players for each game. On a quarterly basis, the Company determined the estimated average playing period for paying players by analyzing paying players for that game who made their first virtual goods purchase during that period and counting their cumulative login days for each game. The Company then averages the time periods to determine the estimated paying playing period for that game. If a new game is launched and only a limited period of paying player data is available, then the Company considers other qualitative factors, such as the playing patterns for paying players for other games with similar characteristics and playing patterns of paying players, such as targeted players and purchasing frequency. While the Company believes its estimates to be reasonable based on available game player information, the Company may revise such estimates based on new information indicating a change in the game player behavior patterns and any adjustments are applied prospectively. Based on the Company’s analysis, the estimated average playing period of paying players is approximately one to three months, and this estimate has been consistent since the Company’s initial analysis. No change has been made in such estimate during any of the periods presented. Future usage patterns may differ from historical usage patterns and therefore the estimated average playing periods may change in the future. Third-party platform The Company also licenses third-parties to operate the Company’s mobile games developed internally through mobile platforms and receives revenue-based royalty payments from all the third-party licensee operators on a monthly basis. The revenue- based royalty payments are recognized when all other revenue recognition criteria are met. The Company records the mobile game royalty revenue on a net basis, as the Company does not have the primary responsibility for fulfillment and acceptability of the game services. Communication service The communication service is mainly divided into three modules: SMS agency service, agency fee from mobile recharge and IDC service. SMS agency service and mobile recharge service provide customer services through the company’s platform; and IDC service which providing broadband, IP and others for customers’ router equipment. The sales revenue will be recognized after the customer confirms the statement generated from the platform. The premise is: the customer has no uncertainty in the acceptance, the sales price is fixed and determinable when contracted, and the retrievability is also reasonably guaranteed. Shipping and handling Shipping and handling costs amounted to $ 521 4,481 32,541 Advertising costs Advertising costs amounted to $ Nil 0 977,631 3,494,507 Operating leases A lease for which substantially all the benefits and risks incidental to ownership remain with the lessor is classified by the lessee as an operating lease. All leases of the Company are currently classified as operating leases. The Company records the total expenses on a straight-line basis over the lease term, and the accounting of operating lease in this report has been updated to reflect the adoption of FASB’s new guidance on the recognition and measurement of leases. Government subsidies Government subsidies mainly represent amounts granted by local government authorities as an incentive for companies to promote development of the local technology industry. The Company receives government subsidies related to government sponsored projects, and records such government subsidies as a liability when it is received. The Company records government subsidies as other income when there is no further performance obligation. Total government subsidies amounted to $ 70,148 19,969 50,608 Value added taxes Revenue represents the invoiced value of service, net of VAT. The VAT is based on gross sales price and VAT rates range up to 13%, depending on the type of service provided. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in tax payable. All of the VAT returns filed by the Company’s subsidiaries in China have been and remain subject to examination by the tax authorities for five years from the date of filing. Income taxes The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. Comprehensive income Comprehensive income consists of two components, net income and other comprehensive (loss) income. Other comprehensive (loss) income refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Other comprehensive (loss) income consists of a foreign currency translation adjustment resulting from the Company not using the U.S. dollar as its functional currencies. Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. The dilutive shares were 30,975,275 8,565,163 Employee benefits The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans by law. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were $ 1,014 1,599,627 76,843 Statutory reserves Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss. Recently issued accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which provides guidance on the acquirer’s accounting for acquired revenue contracts with customers in a business combination. The amendments require an acquirer to recognize and measures contract assets and contract liabilities acquired in a business combination at the acquisition date in accordance with ASC 606 as if it had originated the contracts. This guidance also provides certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	3. ACQUISITIONS During 2022, the Company completes acquisitions of Xiamen Shengruihao Technology Co., Ltd (“Shengruihao”). The transaction was accounted for in accordance with the provisions of ASC 805-10, Business Combinations Acquisition of Shengruihao On September 2022, Blue Hat Group entered into an acquisition pursuant to which it acquired 100% entity interest of Xiamen Shengruihao Technology Co., Ltd for an aggregated purchase price of $0.15. The following table summarizes the combined acquisition date fair value of the assets, including intangible assets, liabilities, assumed and related goodwill acquired from Xiamen Shengruihao: Schedule of goodwill acquired Prepayments $ 1,436 Total assets acquired $ 1,436 Other payables (4,814 ) Tax payables (238 ) Total Liabilities (5,052 ) Net identifiable liabilities assumed (3,616 ) Less: Foreign currency translation (70 ) Add: Goodwill 3,681 Total purchase price for acquisition net of $5 of cash $ (5 ) The Company has included the operating results of Shengruihao in our consolidated financial statements since the Acquisition Date. Acquisition of Fresh Joy On January 25, 2021, Blue Hat Cayman entered into an acquisition pursuant to which it acquired 100% entity interest of Fresh Joy for an aggregated purchase price of $7.7736 million (the “Purchase Price”), of which 50% paid in cash and the other half paid in the Company’s restricted ordinary shares (the “Ordinary Shares”) at a per share price of the higher of the weighted average volume price of the 20 trading days prior to the issuance of such Ordinary Shares, or $4, the IPO price of the Company’s Ordinary Shares, subject to certain performance targets. Performance target for Fuzhou CSFC net profit is $2.2 million, $3.59 million and $5.74 million to be achieved for each year ending December 31, 2020, 2021 and 2022 respectively. As of the date of this annual report, Fuzhou CSFC did not achieve such performance goal. Fresh Joy, through its affiliated Xinyou Entertainment and Xinyou Technology, signed a series of VIE agreements with Fujian Roar Game, which holds 51% equity of Fuzhou Csfctech Co., Ltd and 100% equity of Fuzhou UC71 Co., Ltd (the “Fresh Joy Group”). Up to reporting date, the Company has paid $0 to Fresh Joy . The following table summarizes the combined acquisition date fair value of the assets, including intangible assets, liabilities, assumed and related goodwill acquired from Fresh Joy Group: Schedule of goodwill acquired Accounts receivables $ 6,432,414 Other receivables 49,704 Prepayments, net 1,797,617 Right-of-use assets 91,513 Property, plant and equipment, net 148,095 Intangible assets 6,876,455 Deferred tax assets 136,546 Total assets acquired $ 15,532,344 Accrued expenses and other payables 2,462,953 Taxes payable 2,185,779 Customer deposits 597,380 Short term loans, bank 849,959 Operating lease liability 96,131 Total Liabilities $ 6,192,202 Net identifiable assets acquired 9,340,142 Less: Non-controlling interest 5,379,104 Add: Goodwill 3,792,056 Total purchase price for acquisition net of $20,506 of cash $ 7,753,094 The Company has included the operating results of Fresh Joy Group in our consolidated financial statements since the Acquisition Date. Acquisition of Fujian Youth Hand in Hand Educational Technology Co., Ltd On September 18, 2017, Blue Hat Fujian formed a joint venture, contributing a 48.5% equity interest in Fujian Youth. Subsequently in January, 2021, the Company entered into a contract with a third party to acquire the rest of 51.5% equity of Fujian Youth with purchase consideration in aggregate was $163,270. The following table summarizes the combined acquisition date fair value of the assets, including intangible assets, liabilities, assumed and related goodwill acquired from Fujian Youth: Schedule of goodwill acquired Accounts receivables $ 78,772 Other receivables 10,321 Inventories 2,955 Prepayments 1,215,130 Property, plant and equipment, net 153 Intangible assets, net 910,284 Total assets acquired $ 2,217,615 Accrued expenses and other payables 1,993,335 Total Liabilities 1,993,335 Net identifiable assets acquired 224,280 Less: 48.5% owned by Blue Hat Interactive Entertainment Technology 75,547 Add: Goodwill 14,537 Total purchase price for acquisition net of $944 of cash $ 163,270 The Company has included the operating results of Fujian Youth in our consolidated financial statements since the Acquisition Date.

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	12 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
ACCOUNTS RECEIVABLE, NET	4. ACCOUNTS RECEIVABLE, NET Accounts receivable, net consist of the following: Schedule of accounts receivable, net December 31, December 31, 2023 2022 Accounts receivable $ 28,816,059 $ 14,025,634 Allowance for doubtful accounts (13,658,675 ) (4,854,638 ) Total accounts receivable, net $ 15,157,384 $ 9,170,996 Movements of allowance for doubtful accounts are as follows: Schedule of movements of allowance for doubtful accounts Beginning balance $ 4,854,638 $ 6,186,410 Addition/ (Write-off) 8,929,110 (1,035,345 ) Exchange rate effect (125,073 ) (296,427 ) Ending balance $ 13,658,675 $ 4,854,638

OTHER RECEIVABLES, NET

OTHER RECEIVABLES, NET	12 Months Ended
	Dec. 31, 2023
Other Receivables Net
OTHER RECEIVABLES, NET	5. OTHER RECEIVABLES, NET Other receivables consist of the following: Schedule of other receivables December 31, December 31, 2023 2022 Deposit for business acquisitions $ 12,139,263 $ 12,345,111 Deposit for set-up of research center 84,714 86,150 Others 5,439,957 4,762,413 Allowance for doubtful accounts (13,481,228 ) (12,489,219 ) Total other receivables, net $ 4,182,706 $ 4,704,455 Movements of allowance for doubtful accounts are as follows: Schedule of movements of allowance for doubtful accounts Beginning balance $ 12,489,219 $ 13,652,322 Addition/(Write-off) 1,207,145 (22,869 ) Exchange rate effect (215,136 ) (1,140,234 ) Ending balance $ 13,481,228 $ 12,489,219 In 2022, the Company acquired Fuzhou CSFC subject to customary conditions; it signed a three parties agreement that involves Fuzhou CSFC and Quanzhou Yiang Trading Co., Ltd (“Yiang”), of which Yiang is an independent third party. As of December 31, 2023, the Company paid a refundable deposit of $ 5,893,057 The Company signed a non-binding letter of intent to acquire a controlling equity interest of Fuzhou Tornado Network Technology Co., Ltd (“Tornado”), subject to customary conditions. Tornado is a developer and distributor of mobile games in China with an international user base across Mainland China, South Korea, the United Arab Emirates and North America. The acquisition price is expected to be based on the valuation of the acquired entities carried out by a qualified independent third party. The Company signed a three party agreement that involves Tornado and Quanzhou Chengtai Co., Ltd (“Chengtai”), of which Chengtai is an independent third party. As of December 31, 2023 the Company paid a refundable deposit of $6,246,206 to Chengtai as a guarantee. There is no assurance that the proposed transaction will be consummated, particularly if the financial performance of Tornado does not meet the agreed terms. In addition, the Company is aiming to establish a research center with Beijing Zhongrun Minan Intelligence Technology Co., Ltd (“Zhongrun”). The project will develop a training platform and application for kindergarten. As of December 31, 2023, the Company paid $ 84,714

INVENTORIES, NET

INVENTORIES, NET	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES, NET	6. INVENTORIES, NET Inventories, net consist of the following: Schedule of inventories, net December 31, December 31, 2023 2022 Diamonds $ 17,178,241 $ — Platinum 366,912 — Total prepayments, net $ 17,545,153 $ — Product obsolescence is closely monitored and reviewed by management on an ongoing basis. As of end of December 31 2023, allowance for obsolete was nil.

PREPAYMENTS, NET

PREPAYMENTS, NET	12 Months Ended
	Dec. 31, 2023
Prepayments Net
PREPAYMENTS, NET	7. PREPAYMENTS, NET Prepayments, net consist of the following: Schedule of prepayments, net December 31, December 31, 2023 2022 Prepayments $ 36,588 $ 19,464 Prepaid research and development expenses 2,388,435 61,370 Other — 2,495,570 Total prepayments, net $ 2,425,023 $ 2,576,404 December 31, December 31, 2023 2022 Prepayments - current $ 464,129 $ 503,911 Prepayments - non-current 10,212,984 10,353,273 doubtful accounts - current (427,541 ) (423,077 ) Impairment loss (7,824,549 ) (7,857,703 ) Total prepayments, net $ 2,425,023 $ 2,576,404 Movements of allowance for doubtful accounts and impairment loss are as follows: Schedule of movements of allowance for doubtful accounts and impairment loss Beginning balance $ 8,280,780 $ 9,040,265 Addition 110,015 4,925 Exchange rate effect (138,705 ) (764,410 ) Ending balance $ 8,252,090 $ 8,280,780

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	8. LEASES The Company adopted ASU No. 2016-02 and related standards (collectively ASC 842, Leases), which replaced previous lease accounting guidance, on January 1, 2019 using the modified retrospective method of adoption. The Company elected the transition method expedient which allows entities to initially apply the requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As a result of electing this transition method, prior periods have not been restated. In addition, adoption of the new standard resulted in the recording of right of use assets and associated lease liabilities of approximately $1 million each as of January 1, 2019. Operating lease expense for the years ended December 31, 2023, 2022 and 2021 was $ 283,342 329,595 402,416 Supplemental balance sheet information related to leases is as follows: Schedule of supplemental balance sheet Location on Face of December 31, Balance Sheet 2023 Operating leases: Operating lease right of use assets Operating lease, right-of-use assets $ 2,353,083 Current operating lease liabilities Operating lease liabilities - current $ 235,470 Noncurrent operating lease liabilities Operating lease liabilities 2,141,421 Total operating lease liabilities $ 2,376,891 Weighted average remaining lease term (in years): Operating leases 18.92 Weighted discount rate: Operating leases 4.24 % Maturities of lease liabilities were as follows: Schedule of maturities of lease liabilities For the year ended December 31, Operating lease 2024 $ 331,484 2025 335,595 2026 341,351 2027 350,587 Thereafter 1,587,941 Total $ 2,946,958 Less: amount representing interest 570,067 Present value of future minimum lease payments 2,376,891 Less: Current obligations 235,470 Long-term obligations $ 2,141,421 As of December 31, 2023 and 2022, the Company has additional operating lease commitments that have not yet commenced of approximately $ 0 0

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	9. PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following: Schedule of property and equipment December 31, December 31, 2023 2022 Building $ 4,322,359 $ 4,322,359 Electronic devices 310,724 315,992 Office equipment, fixtures and furniture 40,324 32,480 Vehicle 1,212 30,788 Subtotal 4,674,619 4,701,619 Less: accumulated depreciation and amortization (1,084,461 ) (855,928 ) Less: impairment (45,407 ) (28,676 ) Total $ 3,544,751 $ 3,817,015 The depreciation expenses for the years ended December 31, 2023, 2022 and 2021 was $ 260,883 185,083 344,570

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	10. INTANGIBLE ASSETS, NET The Company’s intangible assets with definite useful lives primarily consist of patents and licensed software. The following table summarizes the components of acquired intangible asset balances as of: Schedule of intangible asset December 31, December 31, 2023 2022 Patents $ 1,241,199 $ 1,262,246 Licensed software 16,923,586 17,210,562 Software development costs — 118,139 Less: accumulated amortization (3,766,061 ) (3,667,638 ) Less: impairment (14,398,724 ) (13,554,885 ) Intangible assets, net $ — $ 1,368,424 Amortization expenses for the years ended December 31, 2023, 2022 and 2021 amounted to $ 159,579 169,149 1,557,016

LONG-TERM INVESTMENTS

LONG-TERM INVESTMENTS	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
LONG-TERM INVESTMENTS	11. LONG-TERM INVESTMENTS The Company’s long-term investments consist of cost method investment and equity method investments. Cost method investment On September 20, 2018, Blue Hat Fujian formed a joint venture with Fujian Jin Ge Tie Ma Information Technology Co., Ltd., contributing a 20.0 15.0 1,694,269 1,722,999 1,882,146 Long-term investments are evaluated for impairment when facts or circumstances indicate that the fair value of the long-term investments is less than its carrying value. Impairment is recognized when a decline in fair value is determined to be other-than- temporary. No event suggests an indication for impairment; thus, the Company did not record any impairment for its investments for the years ended December 31, 2023, 2022 and 2021.

CREDIT FACILITIES

CREDIT FACILITIES	12 Months Ended
	Dec. 31, 2023
Credit Facilities
CREDIT FACILITIES	12. CREDIT FACILITIES Short term loans - banks Outstanding balances on short-term bank loans consisted of the following: Schedule of short-term bank loans Institute Interest Collateral/ December 31, December 31, name Maturities rate Guarantee 2023 2022 Xiamen Rural Commercial Bank February 2023 6.58 % Guarantee by 14 property rights 273,713 473,825 Total $ 273,713 $ 473,825 The short term loan with Xiamen Rural bank which should be repaid in 2023 was overdue result in a penalty in the principle and interest amount to $ 40,906 Interest expense pertaining to the above short-term and long-term loans for the years ended December 31, 2023, 2022 and 2021 amounted to $ 26,530 33,569 52,452

OTHER PAYABLES AND ACCRUED LIAB

OTHER PAYABLES AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
OTHER PAYABLES AND ACCRUED LIABILITIES	13. OTHER PAYABLES AND ACCRUED LIABILITIES Other payables and accrued liabilities consist of the following: Schedule of other payables and accrued liabilities December 31, December 31, 2023 2022 Payables to non-trade vendors and service providers $ 3,475,685 $ 8,771,325 Salary payables 473,086 186,216 Other miscellaneous payables 79,112 56,517 Total other payables and accrued liabilities $ 4,027,883 $ 9,014,058

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
CONVERTIBLE NOTES PAYABLE	14. CONVERTIBLE NOTES PAYABLE As of December 31, 2023 and 2022, convertible debt consisted of the following: Schedule of convertible debt December 31, December 31, 2023 2022 Beginning $ 1,393,499 $ — Addition — 1,550,000 Interest expenses 146,322 100,314 Paid for cash (449,999 ) — Conversion (1,089,822 ) (256,815 ) Convertible debt, net $ — $ 1,393,499 Pursuant to this note, the Company, from time to time, offering the Ordinary Shares, par value 0.01 1,550,000 1,705,000 6 On October 14, 2022, the Company entered into an agreement with Streeterville Capital, LLC (the “Purchaser”). The Purchaser bought the Note which has a principal amount of $ 1,705,000 6 The Note has a conversion price equal to eighty percent ( 80 0.70 0.70 The principal and the interest payable under the Note will become due and payable within 15 months after the Maturity Date, unless earlier converted or prepaid by us. At any time from the Maturity Date until the Outstanding Balance has been paid in full, the Purchaser may convert the Note at their option into our Ordinary Shares at the Conversion Price. The Company have the right, but not the obligation, to prepay a portion or all amounts outstanding under the Note prior to the Maturity Date at a cash price equal to 115% of the outstanding Principal balance to be prepaid and plus accrued and unpaid interest, and we provide the holder of the Note not less than ten 10 business days’ prior written notice of our desire to exercise an Optional Prepayment.

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	15. RELATED PARTY BALANCES AND TRANSACTIONS Other receivables - related party Schedule of other receivables related party December 31, December 31, Name of Related Party Relationship - Nature 2023 2022 Xiaodong Chen CEO $ 3 $ 2 Blue Hat Fujian Shareholders’ investment company Disposal consideration 1,559,671 — Blue Hat Pingxiang Shareholders’ investment company Disposal consideration 39,070 — Fujian Lanyuncanghai Technology Co., Ltd Shareholders’ investment company Other receivable 342,979 — Xiamen Jiuqiao Tech. CEO holding company Disposal consideration — 1,427,827 Total $ 1,941,723 $ 1,427,829 Other payables - related party Schedule of other payables related party December 31, December 31, Name of Related Party Relationship - Nature 2023 2022 Xiaodong Chen CEO Lease and other payable $ — $ 18,848 Bequtiful Jade Ltd Shareholders’ investment company Attorney fee — 3,795 Total $ — $ 22,643 Long term loans - related party Schedule of long term loan related party December 31, December 31, Name of Related Party Relationship - Nature 2023 2022 Xiaodong Chen CEO Borrowing $ 831,155 $ 914,771 Bequtiful Jade Ltd Shareholders’ investment company Attorney fee 3,795 — Total $ 834,950 $ 914,771 Long term loans from related parties are unsecured and interest free, the payment was due on January 31, 2026.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Taxes	16. Taxes Income tax Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed. British Virgin Islands Blue Hat BVI and Golden Strategy are incorporated in the British Virgin Islands and is not subject to tax on income or capital gains under current British Virgin Islands law. In addition, upon payments of dividends by these entities to their shareholders, no British Virgin Islands withholding tax will be imposed. United States Blue USA which is a limited liability company that is taxed as a partnership for U.S. federal and certain state and local income tax purposes. Blue USA’s net taxable income or loss and related tax credits, if any, are passed through to its members on a pro-rata basis and included in the member’s tax returns. The income tax burden on the earnings taxed to the non-controlling interest holders is not reported by the Company in its consolidated financial statements under GAAP. Hong Kong Blue Hat HK and Golden Alpha are incorporated in Hong Kong and is subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 16.5 PRC PRC companies are governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case- by-case basis. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for HNTE status every three years. Tax savings for the years ended December 31, 2023, 2022 and 2021 amounted to $ 8,847,998 6,402,621 0 0.3 0.03 0 Significant components of the provision for income taxes are as follows: Schedule of provision for income taxes December 31, December 31, 2023 2022 Current $ 6,081 $ 1,097,888 The provision for income taxes $ 6,081 $ 1,097,888 The following table reconciles China statutory rates to the Company’s effective tax rate: Schedule of effective tax rate Year ended Year ended Year ended December 31, December 31, December 31, 2023 2022 2021 China statutory income tax rate 25.0 % 25.0 % 25.0 % Preferential tax rate reduction (10.0 )% (10.0 )% (10.0 )% Preferential Blue Hat Pingxiang tax rate reduction — — — Permanent difference (15.2 )% (15.2 )% (15.2 )% Effective tax rate (0.2 )% (0.2 )% (0.2 )% As of December 31, 2023, 2022 and 2021, the Company had approximately $ 35 26 29 0 0 0 Uncertain tax positions The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits and measures the unrecognized benefits associated with the tax positions. As of December 31, 2023, 2022 and 2021, the Company did no The Company did not incur any interest and penalties tax for the years ended December 31, 2023, 2022 and 2021. The Company does not anticipate any significant increases or decreases in unrecognized tax benefits in the next twelve months from December 31, 2023. Value added tax All of the Company’s service revenues that are earned and received in the PRC are subject to a Chinese VAT. The rate of Chinese VAT is 16 13 6 Taxes payable consisted of the following: Schedule of taxes payable December 31, December 31, 2023 2022 VAT taxes payable $ 441,704 $ 471,604 Income taxes payable 183,171 180,244 Other taxes payable 180,702 189,487 Totals $ 805,577 $ 841,335

CONCENTRATION OF RISK

CONCENTRATION OF RISK	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
CONCENTRATION OF RISK	17. CONCENTRATION OF RISK Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash (including restricted cash and certificate deposits). As of December 31, 2023, 2022 and 2021, $ 409,175 70,402 50,449 The Company is also exposed to risk from its accounts receivable and other receivables. These assets are subjected to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment. A majority of the Company’s expense transactions are denominated in RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance. Our functional currency is the RMB, and our financial statements are presented in U.S. dollars. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the U.S. dollar in the future. The change in the value of the RMB relative to the U.S. dollar may affect our financial results reported in the U.S. dollar terms without giving effect to any underlying changes in our business or results of operations. Currently, our assets, liabilities, revenues and costs are denominated in RMB. To the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company. Customer concentration risk For the year ended December 31, 2023, two customers accounted for 17.15 10.14 18.6 16.8 16.2 10.9 10.2 14.6 10.9 As of December 31, 2023, four customers accounted for 36.2 26.9 19.0 17.3 13.7 11.7 11.4 12.9 12.4 10.9 Vendor concentration risk For the year ended December 31, 2023, two vendors accounted for 28.98 20 22.67 13.82 13.09 39.72 29.96 28.40 As of December 31, 2023, four vendors accounted for 37.5 14.37 10.53 10.12 13.7 10.10

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
SHAREHOLDERS’ EQUITY	18. SHAREHOLDERS’ EQUITY Ordinary shares Blue Hat Cayman was established under the laws of Cayman Islands on June 13, 2018. The authorized number of ordinary shares is 500,000,000 0.01 On May 10, 2022, the Company has authorized and approved a 1-for-10 reverse stock split of the Company’s authorized (issued and unissued) shares of ordinary shares, effective May 27, 2022. The reverse stock split would be reflected in December 31, 2023, and December 31, 2022 statements of changes in stockholders’ equity, and in per share data for all period presented. On June 6, 2022, DTCC is presenting 35,641,462 3,572,818 8,762 Securities Purchase Agreement In June 2022, the Company entered into an Agreement with Aegis Capital Corp., to engages Aegis act as the Company’s exclusive underwriter and investment banker to consist of a sale of up to $ 10 500,000 0.01 3.60 94,429 60,845 2.65 300,000 100,933 108,714 2.51 2.24 On March 2023, the Company entered into an Agreement with F&P Capital Management Company Limited to consist of a sale of 4,000,000 0.01 2,800,000 On September 2023 afterwards, the Company announced that the securities purchase agreement dated as of July 8, 2020 with Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B and Hudson Bay Master Fund Ltd. was effective. The effectiveness of the 1-for-10 reverse split 0.001 0.70 283,425 Consulting Service Agreement On July 29, 2020, the Company entered into a Consulting Service Agreement (the “Agreement”) with First Trust China Ltd (the “Consultant”), a company incorporated in PRC, pursuant to which Consultant will: (i) assisting the Company in planning and implementing new business plans with the objective of improve Company’s long-term growth potential and delivering values to shareholders; (ii) advising the Company’s board of directors and management on all matters as positioning the Company for its next stage of growth; (iii) identifying prospective joint venture and strategic alliance opportunities for the Company, helping the Company to negotiate agreements and advising the Company on mergers and acquisitions; and (iv) identifying potential merger and acquisition targets for the Company, and provide necessary business analysis, evaluation and due diligence of the targeted companies as requested by the Company, as well as advising the Company on specific merger/acquisition issues. The term of the Agreement is one year. In consideration of the services to be provided by the Consultant to the Company, the Company agrees to pay the Consultant consulting fee totally $360,000 or 500,000 common shares. The Company shall issue a total of 500,000 of the Company Ordinary shares (the “Consultant Shares”) as the payment for the above mentioned consultant fee to the Consultant. For the year ended December 31, 2020, the Company recorded stock related compensation of $287,500, based on the stock closing price of $1.15 within ten days of the Agreement date, for the 250,000 shares which were released to the Consultant immediately upon issuance. On September 14, 2021, the Company released the second batch of 250,000 shares to the Consultant and the Company will recognize stock related compensation of $155,825 for the 250,000 shares. On March 30, 2022, the BOD of company announced to issue an aggregate of 5,000,000 3,000,000 0.001 8,000,000 0.001 2,800,000 0.001 2,600,000 0.001 500,000 0.01 On August 29, 2023, the Company and FirsTrust China Ltd signed a consulting contract to provide the Company with consulting advice on development strategies and business operations for a period of 6 300,000 Diamond purchase agreement On June 28, 2023, the Company has entered into two diamonds purchased agreements with Alpha Infinity Fintech Inc. and Fujian Blue Sea Resting Sun Science and Technology Limited respectively, pursuant to which the Company agreed to purchase the diamonds from and the subscribers have agreed to sell to the Company, a number of diamonds valued at $ 25,472,904 5,607,025 31,079,929 0.01 1.3 42,000,000 0.71 29,820,000 1.01 42,000,000 Restricted assets The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiary. Relevant PRC statutory laws and regulations permit payments of dividends by Blue Hat WFOE and Blue Hat Fujian (collectively “Blue Hat PRC entities”) only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the accompanying consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of Blue Hat PRC entities. Blue Hat PRC entities are required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of their registered capital. In addition, Blue Hat PRC entities may allocate a portion of its after- tax profits based on PRC accounting standards to enterprise expansion fund and staff bonus and welfare fund at its discretion. Blue Hat PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to a discretionary surplus fund at its discretion. The statutory reserve funds and the discretionary funds are not distributable as cash dividends. Remittance of dividends by a wholly foreign-owned company out of China is subject to examination by the banks designated by State Administration of Foreign Exchange. As a result of the foregoing restrictions, Blue Hat PRC entities are restricted in their ability to transfer their assets to the Company. Foreign exchange and other regulation in the PRC may further restrict Blue Hat PRC entities from transferring funds to the Company in the form of dividends, loans and advances. As of December 31, 2023, 2022 and 2021 amounts restricted are the paid-in-capital and statutory reserve of Blue Hat PRC entities, which amounted to $ 83,955,324 46,388,025 38,479,068 Payments-omnibus equity plan The 2020 Equity Incentive Plan was adopted by the shareholders of the Company on December 9, 2020, the maximum number of ordinary shares in respect of which any awards may be granted or paid out thereunder is 6,000,000 0.001 10 0.001 1 0.01 600,000 0.01 Statutory reserve During the years ended December 31, 2023, 2022 and 2021, Blue Hat PRC entities collectively attributed 0 0 60,922 Capital contributions During the year ended December 31, 2023, 2022 and 2021, the Company’s shareholders contributed $ 37,567,299 7,908,957 12,830,780

IMPAIRMENT LOSS

IMPAIRMENT LOSS	12 Months Ended
	Dec. 31, 2023
Impairment Loss
IMPAIRMENT LOSS	19. IMPAIRMENT LOSS Movements of impairment loss for goodwill are as follows: Schedule of impairment loss Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Acquisition of Shengruihao - goodwill $ — $ 3,681 $ — Acquisition of Fujian Youth Hand in Hand Educational Technology Co., Ltd - goodwill — — 14,537 Impairment loss — (3,681 ) (14,537 ) The Company recorded $ 13,693,305 33,397 Acquired intangible assets are recognized based on their cost to the Company, which generally includes the transaction costs of the asset acquisition, and no gain or loss is recognized unless the fair value of noncash assets given as consideration differs from the assets’ carrying amounts on the Company’s book. These assets are amortized over their useful lives if the assets are deemed to have a finite life and they are reviewed for impairment by testing for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. The fair value of an intangible asset is the amount that would be determined if the entity used the assumptions that market participants would use if they were pricing the intangible asset. The useful life of the Company’s intangible assets is ten years, which is determined by using the time period that an intangible is estimated to contribute directly or indirectly to a Company’s future cash flows. The Company assessed some of the licensed software is unlikely to generate cash flow, as of year ended December 2023 and 2022, it recorded $ 1,075,997 0 Property plant and equipment are recognized based on their cost to the Company, which generally includes the transaction costs of the asset acquisition. These assets are amortized over their useful lives if the assets are deemed to have a finite life. The useful life of the impaired asset is three years, which is determined by using the time period that an property plant and equipment is estimated to contribute directly or indirectly to a Company’s future cash flows. The Company assessed some of the asset is unlikely to generate cash flow, as of year ended December 2023 and 2022, it recorded $ 17,308 29,716 On January 25, 2021, Blue Hat Cayman acquired 100% entity interest of Fresh Joy under the Company. Goodwill was formed while acquisition. The Company tests goodwill for impairment for its reporting units on an annual basis, or when events occur or circumstances indicate the fair value of a reporting unit is below its carrying value. If the fair value of a reporting unit is less than its carrying value, an impairment loss is recorded to the extent that implied fair value of the goodwill within the reporting unit is less than its carrying value. The Company uses the discounted cash flow model to estimate fair value, which requires management to make significant estimates and assumptions related to forecasts of future revenue and operating margin. In addition, the discounted cash flow model requires the Company to select an appropriate weighted average cost of capital based on current market conditions as of December 31, 2022. The Company has concluded that goodwill impairment loss is $ 3,681

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2023
Discontinued Operations
DISCONTINUED OPERATIONS	20. DISCONTINUED OPERATIONS On September 30, 2021, the Company entered into a share transfer agreement with a third party to sell Xunpusen (Xiamen) Technology Co., Ltd., pursuant to the terms of the Agreement, the buyer purchased 100% of the Company’s ownership of Xunpusen and 100% owned subsidiary Xingjuyun (Xiamen) Technology Co., Ltd. for a total price of $1,333,023, resulting in a gain on disposal of $ 683,688 On December 20, 2021, the Company sold 100% of the ownership of Xiamen Jiuqiao Technology Co., Ltd., and 100% owned subsidiaries to a third party for a total price of $8,368,930, resulting in a gain on disposal of $ 811,269 On November 15, 2021, Shenyang Qimengxing Trading Co., Ltd. (“Blue Hat Shenyang”) was deregistered, resulting in a loss on disposal of $ 1,012 On June 8, 2023, the Company disposed the variable interest entities and their subsidiaries, Fujian Blue Hat Interactive Entertainment Technology Ltd. (“Blue Hat Fujian”). The subsidiaries including Pingxiang Blue Hat Technology Co. Ltd. (“Blue Hat Pingxiang”), Fujian Lanyun Canghai Technology Co., Ltd (“Fujian Lanyun”). The VIEs and subsidiaries mainly operating in interactive toys and mobile game business in PRC, upon the disposition, the assets and liabilities are transferred to Blue Hat WOFE. On June 8, 2023, he Company also disposed another variable interest entities and their subsidiaries, Fujian Xinyou Technology Co., Ltd (“Xinyou Technology”), Fresh Joy Entertainment Limited (“Fresh Joy”), Hong Kong Xinyou Entertainment Company (“Xinyou Entertainment”), Fujian Roar Game Technology Co., Ltd (“Fujian Roar Game”) Fuzhou Csfctech Co., Ltd (“Fuzhou CSFC”) and Fuzhou UC71 Co., Ltd (“Fuzhou UC71”). The VIEs and subsidiaries mainly operating in interactive toys and mobile game business in PRC, the disposition resulting in a gain on disposal of $ 7,389,310 Loss from discontinued operations for the ended December 31, 2023 and 2022 was as follows: Schedule of loss from discontinued operations December 31 December 31, 2023 2022 Revenues $ — $ 5,180,055 Cost of sales — (2,419,222 ) Gross profit — 2,760,833 Operating expenses: General and Administrative — (144,570 ) Selling expenses — (973,688 ) Research and development — (1,726,906 ) Total — $ (2,845,164 ) Other income (expense) Interest income $ — $ — Other (expense) income, net — (197,395 ) Other finance expenses — (301 ) Total — (197,696 ) Loss from discontinued operations before income tax — (282,027 ) Income tax provision — — Loss from discontinued operations before non-controlling interest $ — $ (282,027 ) Less: Net loss attributable to non-controlling interest — — Foreign currency translation — 258,828 Gain/(Loss) from discontinued operation $ 7,389,310 $ (23,199 ) The major components of assets and liabilities related to discontinued operations are summarized below: Schedule of components of assets and liabilities December 31, December 31, 2023 2022 Cash $ — $ 7,262 Accounts receivable — 4,320,498 Other current assets — 1,084 Prepayments, net — 1,748,710 Property, plant and equipment, net — 17,636 Intangible assets, net — 3,282,548 Total assets related to discontinued operations — 9,377,738 Accounts payable — 560,539 Short term loans - banks — 788,119 Other payables and accrued expenses — 2,432,995 Other payables - related party — 142,300 Customer deposits — 880,350 Tax payables — 1,896,165 Total liabilities related to discontinued operations $ — $ 6,700,468

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	21. COMMITMENTS AND CONTINGENCIES Purchase commitments The Company has entered into three agreements for game software development and one agreements for community software development. As of December 31, 2023 and 2022, the Company’s commitment under these agreements amounted to $ 2,388,435 and $ 15,487,465, respectively. On Aug 26, 2021, the Company entered into a Sanguo game software development with Chengguo with total contract amount $ 1,263,642 439,098 252,728 On Sep 14, 2021, the Company entered into a Monopoly game software development with Xiamen Chengguo intelligence technology Co.,Ltd (“Chengguo”) with total contract amount $ 906,434 332,394 272,495 On Nov 3, 2021, the Company entered into a box game software development with Fuzhou Qirui software development Co.,Ltd (“Qirui”) with total contract amount $ 1,280,585 612,721 635,351 On Oct 18, 2022, the Company entered into a platform development with Chengguo aiming to analyze the statistics of commodity and jewelry transactions with total contract amount $ 1,601,084 1,004,222 399,565

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	22. SUBSEQUENT EVENT The Company has evaluated subsequent events through the date of the issuance of the consolidated financial statements and no subsequent event is identified.

SEGMENT INFORMATION AND REVENUE

SEGMENT INFORMATION AND REVENUE ANALYSIS	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION AND REVENUE ANALYSIS	23. SEGMENT INFORMATION AND REVENUE ANALYSIS The Company follows ASC 280, Segment Reporting, which requires that companies to disclose segment data based on how management makes decision about allocating resources to each segment and evaluating their performances. The Company has three reporting segments. The Company’s chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company. The Company considers itself to be operating within one reportable segment. The Company’s revenue and net income are substantially derived from interactive toys, and mobile games. Disaggregated information of revenues by business lines are as follows: Schedule of disaggregated information of revenues by business lines Year ended Year ended Year ended December 31, December 31, December 31, 2023 2022 2021 Diamond trading $ 15,152,777 $ — $ — Commodity trading 58,118,001 1,149,163 — Information service 415,955 884,329 1,608,519 Interactive toys - animation series — 6,903 657,619 Interactive toys - game series — 155,559 8,723,480 Mobile game — — 1,149,882 Total revenues $ 73,686,733 $ 2,195,954 $ 12,139,500 Disaggregated information by business lines are as follows: Year ended December 31, 2023 Schedule of disaggregated information by business lines Diamond Trading Commodity Trading Information service Interactive toys animation series Interactive toys Mobile game Revenue $ 15,152,777 $ 58,118,001 $ 415,955 $ — $ — $ — Costs of revenue (13,901,688 ) (58,081,952 ) (549,242 ) — — — Gross Profit 1,251,089 36,049 (133,287 ) — — — Year ended December 31, 2022 Interactive toys Interactive toys Commodity Trading Information Revenue $ 6,903 $ 155,559 $ 1,149,163 $ 884,329 Costs of revenue (3,420 ) (78,118 ) (50,804 ) (826,096 ) Gross Profit $ 3,483 $ 77,441 $ 1,098,359 $ 58,233 Year ended December 31, 2021 Interactive toys Interactive toys Mobile game Information Revenue $ 657,619 $ 8,723,480 $ 1,149,882 $ 1,608,519 Costs of revenue (140,450 ) (4,340,776 ) — (1,301,438 ) Gross Profit $ 517,169 $ 4,382,704 $ 1,149,882 $ 307,081 The Company’s operations are primarily based in the PRC, where the Company derives a substantial portion of their revenues. Management also reviews consolidated financial results by business locations. Disaggregated information of revenues by geographic locations are as follows Schedule of disaggregated information of revenues by geographic locations Year ended Year ended Year ended Domestic PRC revenues $ 73,686,733 $ 2,195,954 $ 12,139,500 Export revenues — — — Total revenues $ 73,686,733 $ 2,195,954 $ 12,139,500 Segment asset Schedule of segment asset December 31, December 31, 2023 2022 Diamond trading $ 33,029,615 — Commodity trading 114,900 159,666 Information service 2,507,120 2,646,806 Interactive toys — 10,379,754 Corporate and Unallocated 13,611,203 11,712,894 Assets related to discontinued operation — 9,377,738 Total 49,262,838 34,276,858 Assets subject to attribution to business segments largely include property, plant and equipment, receivable and right of use assets. All other items are reflected in Corporate and Unallocated.

CONDENSED FINANCIAL INFORMATION

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Of Parent Company
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	24. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Company performed a test on the restricted net assets of consolidated subsidiary in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08(e)(3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The subsidiary did not pay any dividend to the Company for the years presented. For the purpose of presenting parent only financial information, the Company records its investment in its subsidiary under the equity method of accounting. Such investment is presented on the separate condensed balance sheets of the Company as “Investment in subsidiary” and the income of the subsidiary is presented as “share of income of subsidiary”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2023 and 2022. PARENT COMPANY BALANCE SHEETS Schedule of condensed financial information of the parent company December 31, December 31, ASSETS Current assets: Cash and cash equivalents $ 23,107 $ 6,791 Account receivables, net 15,090,224 — Other receivables, net 4,299,894 3,524,253 Inventories 17,178,241 — Total current assets 36,591,466 3,531,044 Non-current assets: Property, plant and equipment, net 3,526,773 3,731,963 Investment in subsidiaries 1,961,211 17,619,903 Total non-current assets 5,487,984 21,351,866 Total assets $ 42,079,450 $ 24,882,910 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES Other payables and accrued liabilities $ 622,425 $ 8,041,502 Other payables - related party — 3,799 Short-term loans — — Convertible notes payable — — Total current liabilities 622,425 8,045,301 Non-current liabilities 834,950 2,308,270 Total liabilities 1,457,375 10,353,571 COMMITMENTS AND CONTINGENCIES — — SHAREHOLDERS’ EQUITY Ordinary shares, $0.01 par value, 100,000,000 shares authorized, 58,398,281, 9,894,734, shares issued and outstanding as of December 31, 2023 and 2022 respectively 583,983 98,947 Additional paid-in capital 93,828,090 44,145,826 Statutory reserves 2,143,252 2,143,252 Retained earnings (56,832,015 ) (35,113,598 ) Accumulated other comprehensive losses 898,766 834,513 Total Blue Hat Interactive Entertainment Technology shareholders’ equity 40,622,075 12,108,940 Non-controlling interest — 2,420,399 Total equity 40,622,075 14,529,339 Total liabilities and shareholders’ equity $ 42,079,450 $ 24,882,910 PARENT COMPANY STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Year ended Year ended Year ended 2023 2022 2021 Revenues 15,152,777 — — Cost of sales (13,901,688 ) — — Gross profit 1,251,089 — — Operating expenses: General and administrative expenses $ (2,195,689 ) $ (2,621,808 ) $ (1,169,384 ) Research and development (2,438,520 ) (2,278,990 ) — Impairment loss (12,600,000 ) Other income (expenses): (Interest expense)/interest income (146,322 ) (100,314 ) (169,366 ) Other finance expenses (60,032 ) (6,998 ) (10,442 ) Equity income of subsidiaries and VIEs from continue operation (12,918,251 ) (4,114,945 ) (50,143,624 ) Equity income of subsidiaries and VIEs from discontinued operation 7,389,310 (282,027 ) (8,561,804 ) NET (LOSS) INCOME (21,718,417 ) (9,405,081 ) (60,054,620 ) FOREIGN CURRENCY Translation adjustment from continued operation (199,032 ) (1,883,571 ) 651,272 Translation adjustment from discontinued operation 263,285 258,828 66,288 COMPREHENSIVE (LOSS) INCOME $ (21,654,164 ) $ (11,029,824 ) $ (59,337,060 ) Less: Comprehensive income attributable to non-controlling interest (2,420,399 ) (40,025 ) (2,918,680 ) Comprehensive income attributable to Blue Hat Interactive Entertainment Technology shareholders $ (19,233,765 ) $ (10,989,799 ) $ 56,418,380 PARENT COMPANY STATEMENTS OF CASH FLOWS Year ended Year ended Year ended December 31, December 31, December 31, 2023 2022 2021 CASH FLOWS FROM OPERATING ACTIVITIES: Net income from continued operation $ (29,107,727 ) $ (9,123,054 ) $ (51,492,816 ) Adjustments to reconcile net income to cash used in operating activities: Impairment loss of inventory 12,600,000 Equity income of subsidiaries and VIEs 12,918,251 4,114,945 50,143,624 Changes in operating assets and liabilities: Depreciation of property and equipment 205,190 205,259 205,398 Other receivables (15,865,859 ) (3,319,855 ) 395,600 Inventories (17,178,241 ) — — Other payables and accrued liabilities (7,419,077 ) (323,274 ) 5,869,181 Net cash used in operating activities (43,847,463 ) (8,445,980 ) 5,120,987 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment 7,773,600 — — Investment in subsidiary — (1,767,824 ) (14,923,600 ) Net cash used in investing activities 7,773,600 (1,767,824 ) (14,923,600 ) CASH FLOWS FROM FINANCING ACTIVITIES: Underwriter’s partial exercise of over-allotment option, net of issuance costs 37,567,299 7,908,956 12,830,780 Other payables related party (3,799 ) (5,389 ) 5,880 Repayment of short-term loans — — (2,998,994 ) Proceeds from long-term loans - related party — 914,771 — Repayment of long-term loans - related party (79,821 ) — — Repayment of convertible payables (1,393,499 ) — (739,189 ) Proceeds from convertible payables — 1,393,499 — Net cash used in investing activities 36,090,179 10,211,837 9,098,477 EFFECT OF EXCHANGE RATE ON CASH — — — NET CHANGES IN CASH AND CASH EQUIVALENTS 16,316 (1,967 ) (704,136 ) CASH AND CASH EQUIVALENTS, Beginning of year 6,791 8,758 712,894 CASH AND CASH EQUIVALENTS, end of year $ 23,107 $ 6,791 $ 8,758 SUPPLEMENTAL CASH FLOW INFORMATION: Cash and cash equivalents $ 23,107 $ 6,791 $ 8,758 Restricted cash — — — CASH AND CASH EQUIVALENTS, end of year $ 23,107 $ 6,791 $ 8,758

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the SEC. Discontinued operations On September 30, 2021, the Company entered into a share transfer agreement with a third party to sell Xunpusen (Xiamen) Technology Co., Ltd., pursuant to the terms of the Agreement, the buyer purchased 100% of the Company’s ownership of Xunpusen and 100% owned subsidiary Xingjuyun (Xiamen) Technology Co., Ltd. for a total price of $1,333,023, resulting in a gain on disposal of $ 683,688 On December 20, 2021, the Company sold 100% of the ownership of Xiamen Jiuqiao Technology Co., Ltd., and 100% owned subsidiaries to a third party for a total price of $8,368,930, resulting in a gain on disposal of $ 811,269 On November 15, 2021, Shenyang Qimengxing Trading Co., Ltd. (“Blue Hat Shenyang”) was deregistered, resulting in a loss on disposal of $ 1,012 On June 8, 2023, the Company disposed the variable interest entities and their subsidiaries, Fujian Blue Hat Interactive Entertainment Technology Ltd. (“Blue Hat Fujian”). The subsidiaries including Pingxiang Blue Hat Technology Co. Ltd. (“Blue Hat Pingxiang”), Fujian Lanyun Canghai Technology Co., Ltd (“Fujian Lanyun”). The VIEs and subsidiaries mainly operate in interactive toys and mobile game business in PRC, upon the disposition, the assets and liabilities are transferred to Blue Hat WOFE. On June 8, 2023, he Company also disposed another variable interest entities and their subsidiaries, Fujian Xinyou Technology Co., Ltd (“Xinyou Technology”), Fresh Joy Entertainment Limited (“Fresh Joy”), Hong Kong Xinyou Entertainment Company (“Xinyou Entertainment”), Fujian Roar Game Technology Co., Ltd (“Fujian Roar Game”) Fuzhou Csfctech Co., Ltd (“Fuzhou CSFC”) and Fuzhou UC71 Co., Ltd (“Fuzhou UC71”). The VIEs and subsidiaries mainly operate in interactive toys and mobile game business in PRC, the disposition resulting in a gain on disposal of $ 7,389,310
Principles of consolidation	Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries, which include the wholly- foreign owned enterprise (“WFOE”) over which the Company exercises control and, when applicable, entities for which the Company has a controlling financial interest. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.
Use of estimates and assumptions	Use of estimates and assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include the useful lives of plant and equipment and intangible assets, capitalized development costs, impairment of long-lived assets, allowance for doubtful accounts, revenue recognition, allowance for deferred tax assets and uncertain tax position, and inventory allowance. Actual results could differ from these estimates.
Going Concern	Going Concern The Company’s financial statements are prepared assuming that the Company will continue as a going concern. The Company incurred operating loss from continuing operations of $ 29.11 9.77 The ability of the Company to continue as a going concern is dependent upon its ability to successfully execute its new business strategy and eventually attain profitable operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Foreign currency translation and transaction	Foreign currency translation and transaction The reporting currency of the Company is the U.S. dollar. The Company in China conducts its businesses in the local currency, Renminbi (RMB), as its functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of income accounts is translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Translation adjustments included in accumulated other comprehensive income (loss) amounted to $ 898,766 834,513 2,459,256 7.08 6.96 6.38 7.04 6.70 6.45
Cash and restricted cash	Cash and restricted cash Cash and cash equivalents consist of cash on hand; demand deposits and time deposits placed with banks or other financial institutions and have original maturities of less than three months. Deposits in banks in the PRC are only insured by the government up to RMB500,000, and are consequently exposed to risk of loss. The Company believes the probability of a bank failure, causing loss to the Company, is remote. Cash that is restricted as to withdrawal for use or pledged as security is reported separately on the face of the consolidated balance sheets, and is not included in the total cash and cash equivalents in the consolidated statements of cash flows.
Accounts receivable, net	Accounts receivable, net Accounts receivable include trade accounts due from customers. Accounts are considered overdue after 30 -180 days. In establishing the required allowance for doubtful accounts, management considers historical collection experience, aging of the receivables, the economic environment, industry trend analysis, and the credit history and financial conditions of the customers. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. As of December 31, 2023 and 2022, allowance for the doubtful accounts was $ 13,658,675 4,854,638
Other receivables, net	Other receivables, net Other receivables primarily include deposits for business acquisitions, setup of research center, advances to employees, and others. Management regularly reviews the aging of receivables and changes in payment trends and records allowances when management believes collection of amounts due are at risk. Accounts considered uncollectable are written off against allowances after exhaustive efforts at collection are made. As of December 31, 2023 and 2022, allowance for the doubtful accounts was $ 13,481,228 12,489,219
Inventories	Inventories Inventories are comprised of diamonds held for resale and are stated at the lower of cost or net realizable value using the weighted average method. Cost is primarily determined using the weighted average cost on a first-in, first-out (“FIFO”) basis for all inventories. Management reviews inventories for obsolescence and cost in excess of net realizable value quarterly and records a reserve against the inventory when the carrying value exceeds net realizable value. Due to the Company’s inventory principally consisting of diamonds, the age of the inventories has limited impact on the estimated market value. The Company’s diamonds do not degrade in quality over time and diamond inventory generally consists of the diamond shapes and sizes commonly used in the jewelry industry. Product obsolescence is closely monitored and reviewed by management on an ongoing basis.
Prepayments, net	Prepayments, net Current Prepayments are cash deposited or advanced to suppliers for future inventory purchases. This amount is refundable and bears no interest. For any advances to suppliers determined by management that such advances will not be in receipts of inventories or refundable, the Company will recognize an allowance account to reserve such balances. Management reviews its advances to suppliers on a regular basis to determine if the allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of December 31, 2023 and 2022, allowance for the doubtful accounts was $ 427,541 423,077 Non-current Non-current prepayment represents cash deposited or advanced for software development expenditure. This amount is refundable and bears no interest. As of December 31, 2023 and 2022, allowance for impairment loss was $ 7,824,549 7,857,703
Property and equipment, net	Property and equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Schedule of estimated useful lives Category Depreciation method Estimated useful lives Building Straight-line 20 Electronic devices Straight-line 3 Office equipment, fixtures and furniture Straight-line 3 Automobile Straight-line 3 The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statements of income and comprehensive income. Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives.
Intangible assets	Intangible assets The Company’s intangible assets with definite useful lives primarily consist of software development costs, patents and licensed software. The Company amortizes its intangible assets with definite useful lives over their estimated useful lives and reviews these assets for impairment. The Company typically amortizes its intangible assets with definite useful lives on a straight-line basis over the shorter of the contractual terms or the estimated useful lives of five to ten years.
Software development costs	Software development costs The Company follows the provisions of ASC 350-40, “Internal Use Software”, to capitalize certain direct development costs associated with internal- used software. ASC 350-40 provides guidance on capitalization of the costs incurred for computer software developed or obtained for internal use. The Company expenses all costs incurred during the preliminary project stage of its development, and capitalizes costs incurred during the application development stage. Costs incurred relating to upgrades and enhancements to the application are capitalized if it is determined that these upgrades or enhancements add additional functionality to the application. The capitalized development cost is amortized on a straight-line basis over the estimated useful life, which is generally five years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.
Research and development	Research and development Research and development expenses include salaries and other compensation-related expenses to the Company’s research and product development personnel, as well as office rental, depreciation and related expenses for the Company’s research and product development team. The Company expenses all costs that are incurred in connection with the planning and implementation phases of development, and costs that are associated with maintenance of the existing websites or software for internal use.
Business Combinations	Business Combinations The Company applies the provisions of ASC 805, Business Combination
Goodwill	Goodwill Goodwill represents the excess of the purchase consideration over the acquisition date amounts of the identifiable tangible assets acquired and liabilities assumed from the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries. Goodwill is not amortized but is tested for impairment if events or changes in circumstances indicate that it might be impaired. The company assessed qualitative factors to determine if it is necessary to perform quantitative assessment. In the qualitative assessment, the company considers factors such as macroeconomic conditions, industry and market considerations, overall financial performance, and other specific information related to the operations, business plans and strategies.
Impairment for long-lived assets other	Impairment for long-lived assets other Long-lived assets, including property and equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of December 31, 2023, 2022 and 2021, impairment for long-lived assets was $ 1,093,305 29,716 14,632,931
Long-term investments	Long-term investments Long-term investments include cost method investment and equity method investments. Entities in which the Company has the ability to exercise significant influence, but does not have a controlling interest, are accounted for using the equity method. Significant influence is generally considered to exist when the Company has voting shares between 20% and 50%, and other factors, such as representation on the Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. Under this method of accounting, the Company records its proportionate share of the net earnings or losses of equity method investees and a corresponding increase or decrease to the investment balances. Dividends received from the equity method investments are recorded as reductions in the cost of such investments. The Company accounts for investments with less than 20% of the voting shares and does not have the ability to exercise significant influence over operating and financial policies of the investee using the cost method. The Company records cost method investments at the historical cost in its consolidated financial statements and subsequently records any dividends received from the net accumulated earrings of the investee as income. Dividends received in excess of earnings are considered a return of investment and are recorded as reduction in the cost of the investments. Long-term investments are evaluated for impairment when facts or circumstances indicate that the fair value of the long-term investments is less than its carrying value. Impairment is recognized when a decline in fair value is determined to be other-than- temporary. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include, but are not limited to, the: (i) nature of the investment; (ii) cause and duration of the impairment; (iii) extent to which fair value is less than cost; financial condition and near term prospects of the investments; and (v) ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. No event had occurred and indicated that other-than-temporary impairment existed and therefore the Company did not record any impairment charges for its investments for the years ended December 31, 2023, 2022 and 2021.
Fair value measurement	Fair value measurement The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Our cash and cash equivalents and restricted cash are classified within level 1 of the fair value hierarchy because they are value using quoted market price.
Revenue recognition	Revenue recognition The Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC 606). The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. Commodity Trading For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. The company recognize revenue from sale of Glycol when no control obtained throughout the transactions. Diamond Trading Net sales primarily consist of revenue from diamond, gemstone and jewelry retail sales and payment is required with a credit period of 180 days after delivery. Delivery is determined to be the time of pickup for orders picked up in showrooms, and for shipped orders, delivery is deemed upon shipment. A return policy of 2 days from when the item is picked up or ready for shipment is typically provided; no manufacturing warranty is provided on all jewelry, and diamonds/gemstones. Revenue is recognized when customer gains control over the goods, which is upon delivery. Information service This is a service which provides products and technical services to customers generating from third-party media channels (such as WeChat official accounts, mini programs, APP, Tik Tok, Toutiao, Quick Worker, etc.), as well as commissioned development services for interactive marketing tools, company then charged according to the information services that contracted with the customers. The sales revenue of the information service fee is recognized after the customer confirms the service provided is correct. The premise is: the customer has no uncertainty in the acceptance, the sales price is fixed and determinable when contracted, and the retrievability is also reasonably guaranteed. Sales of interactive toys The Company recognizes sales of interactive toys revenues upon shipment or upon receipt of products by the customer, depending on the terms, provided that: there are no uncertainties regarding customer acceptance; persuasive evidence of an agreement exists documenting the specific terms of the transaction; the sales price is fixed or determinable; and collectability is reasonably assured. Management assesses the business environment, the customer’s financial condition, historical collection experience, accounts receivable aging, and customer disputes to determine whether collectability is reasonably assured. The Company routinely enters into arrangements with its customers to provide sales incentives, support customer promotions, and provide allowances for returns and defective merchandise. Such programs are based primarily on customer purchases, customer performance of specified promotional activities, and other specified factors such as sales to consumers. The costs of these programs are recorded as sales adjustments that reduce gross sales in the period the related sale is recognized. The products sold in the PRC are subject to a Chinese value-added tax (“VAT”). VAT taxes are presented as a reduction of revenue. Mobile games Internal developed platform The Company operates the mobile games as live services that allow players to play for free. Within these games, players can purchase virtual currency to obtain virtual goods to enhance the game-playing experience. On the platform, players purchase virtual currency and/or virtual goods through various widely accepted payment methods offered in the games, including Alipay or WeChat and online bank transfer service providers. Advance payments from customers for virtual goods that are non-refundable that specify our obligations are recorded to deferred revenue. All other advance payments that do not meet these criteria are recorded as advances from customers. For virtual goods purchases upon immediately use with no future game-playing benefits, the Company recognizes such virtual goods purchase upon receipts of payment from the paying players. For virtual goods purchases for the conversion of future game-playing benefits or throughout the players’ playing life, the Company recognizes such virtual goods purchases ratably over the estimated average playing period of paying players for the applicable game, starting from the point in time when virtual items are delivered to the players’ accounts and all other revenue recognition criteria are met. The Company records revenue generated from mobile games on a gross basis as the Company is acting as the principal to fulfill all obligations related to the game operation. Fees paid to distribution channels and payment channels are recorded as cost of revenues. The Company considers the average period that players typically play the games and other game player behavior patterns, as well as various other factors to arrive at the best estimates for the estimated playing period of the paying players for each game. On a quarterly basis, the Company determined the estimated average playing period for paying players by analyzing paying players for that game who made their first virtual goods purchase during that period and counting their cumulative login days for each game. The Company then averages the time periods to determine the estimated paying playing period for that game. If a new game is launched and only a limited period of paying player data is available, then the Company considers other qualitative factors, such as the playing patterns for paying players for other games with similar characteristics and playing patterns of paying players, such as targeted players and purchasing frequency. While the Company believes its estimates to be reasonable based on available game player information, the Company may revise such estimates based on new information indicating a change in the game player behavior patterns and any adjustments are applied prospectively. Based on the Company’s analysis, the estimated average playing period of paying players is approximately one to three months, and this estimate has been consistent since the Company’s initial analysis. No change has been made in such estimate during any of the periods presented. Future usage patterns may differ from historical usage patterns and therefore the estimated average playing periods may change in the future. Third-party platform The Company also licenses third-parties to operate the Company’s mobile games developed internally through mobile platforms and receives revenue-based royalty payments from all the third-party licensee operators on a monthly basis. The revenue- based royalty payments are recognized when all other revenue recognition criteria are met. The Company records the mobile game royalty revenue on a net basis, as the Company does not have the primary responsibility for fulfillment and acceptability of the game services. Communication service The communication service is mainly divided into three modules: SMS agency service, agency fee from mobile recharge and IDC service. SMS agency service and mobile recharge service provide customer services through the company’s platform; and IDC service which providing broadband, IP and others for customers’ router equipment. The sales revenue will be recognized after the customer confirms the statement generated from the platform. The premise is: the customer has no uncertainty in the acceptance, the sales price is fixed and determinable when contracted, and the retrievability is also reasonably guaranteed.
Shipping and handling	Shipping and handling Shipping and handling costs amounted to $ 521 4,481 32,541
Advertising costs	Advertising costs Advertising costs amounted to $ Nil 0 977,631 3,494,507
Operating leases	Operating leases A lease for which substantially all the benefits and risks incidental to ownership remain with the lessor is classified by the lessee as an operating lease. All leases of the Company are currently classified as operating leases. The Company records the total expenses on a straight-line basis over the lease term, and the accounting of operating lease in this report has been updated to reflect the adoption of FASB’s new guidance on the recognition and measurement of leases.
Government subsidies	Government subsidies Government subsidies mainly represent amounts granted by local government authorities as an incentive for companies to promote development of the local technology industry. The Company receives government subsidies related to government sponsored projects, and records such government subsidies as a liability when it is received. The Company records government subsidies as other income when there is no further performance obligation. Total government subsidies amounted to $ 70,148 19,969 50,608
Value added taxes	Value added taxes Revenue represents the invoiced value of service, net of VAT. The VAT is based on gross sales price and VAT rates range up to 13%, depending on the type of service provided. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in tax payable. All of the VAT returns filed by the Company’s subsidiaries in China have been and remain subject to examination by the tax authorities for five years from the date of filing.
Income taxes	Income taxes The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities.
Comprehensive income	Comprehensive income Comprehensive income consists of two components, net income and other comprehensive (loss) income. Other comprehensive (loss) income refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Other comprehensive (loss) income consists of a foreign currency translation adjustment resulting from the Company not using the U.S. dollar as its functional currencies.
Earnings per share	Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. The dilutive shares were 30,975,275 8,565,163
Employee benefits	Employee benefits The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans by law. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were $ 1,014 1,599,627 76,843
Statutory reserves	Statutory reserves Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss.
Recently issued accounting pronouncements	Recently issued accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which provides guidance on the acquirer’s accounting for acquired revenue contracts with customers in a business combination. The amendments require an acquirer to recognize and measures contract assets and contract liabilities acquired in a business combination at the acquisition date in accordance with ASC 606 as if it had originated the contracts. This guidance also provides certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination. The new guidance is required to be applied prospectively to business combinations occurring on or after the date of adoption. This guidance is effective for the Group for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company has adopted such guidance and it does not have a material impact on our financial position, result of operations and cash flows. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. This guidance also requires certain disclosures for equity securities subject to contractual sale restrictions. The new guidance is required to be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. This guidance is effective for the Group for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted. The Group does not expect that the adoption of this guidance will have a material impact on its financial position, results of operations and cash flows. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update are intended to enhance the transparency and decision usefulness of income tax disclosures primarily through changes to the rate reconciliation and income taxes paid information. This update is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the ASU to determine its impact on our consolidated financial statements and related disclosures.

ORGANIZATION AND PRINCIPAL AC_2

ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of business activities	Schedule of business activities Name Background Ownership Brilliant Hat Limited ● A British Virgin Islands company ● Incorporated on June 26, 2018 ● A holding company 100% owned by Blue Hat Interactive Entertainment Technology Blue Hat Interactive Entertainment Technology Limited ● A Hong Kong company ● Incorporated on June 26, 2018 ● A holding company 100% owned by Brilliant Hat Limited Xiamen Duwei Consulting Management Co., Ltd. ● A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”). ● Incorporated on July 26, 2018 ● Registered capital of $20,000,000 ● A holding company. 100% owned by Blue Hat Interactive Entertainment Technology Limited. Fujian Blue Hat Group Co. Ltd. ● A PRC limited liability company ● Incorporated on August 23, 2021. ● A holding company 100% owned by Blue Hat Interactive Entertainment Technology Limited. Fujian Youth Hand in Hand Educational Technology Co., Ltd. ● A PRC limited liability company, acquired on February 2021. ● Incorporated on September 18, 2017 ● Registered capital of $3,106,214 (RMB 20,100,000) ● Educational consulting service and sports related. 100% owned by Xiamen Duwei Consulting Management Co., Ltd. Hunan Engaomei Animation Culture Development Co., Ltd. ● A PRC limited liability company ● Incorporated on October 19, 2017 ● Registered capital of $302,540 (RMB 2,000,000) ● Designing, producing, promoting and selling animated toys with mobile games features, original intellectual property and peripheral derivatives features. 100% owned by Xiamen Duwei Consulting Management Co., Ltd. Xiamen Bluehat Research Institution of Education Co., Ltd ● A PRC limited liability company ● Incorporated on February 20, 2021 ● Information Technology consulting service 100% owned by Xiamen Duwei Consulting Management Co., Ltd. Fuzhou Qiande Educational Technology Co., Ltd. ● A PRC limited liability company ● Incorporated on March 24, 2021 ● Information Technology consulting service 100% owned by Fujian Youth Hand in Hand Educational Technology Co., Ltd. Xiamen Shengruihao Technology Co., Ltd ● A PRC limited liability company, acquired on September 30, 2022 ● Incorporated on June 30, 2021 ● Registered capital of $ 4,463,754 (RMB 30,000,000) ● Software development, animation design and web design 100% owned by Fujian Blue Hat Group Co. Ltd. Golden Strategy Ltd. ● A British Virgin Islands company ● Incorporated on April 3, 2023 ● Registered capital of $50,000 ● Gold derivative information service 100% owned by Blue Hat Interactive Entertainment Technology. Golden Alpha Strategy Limited ● A Hong Kong company ● Incorporated on April 18, 2023 ● Diamond trading 100% owned by Golden Strategy Ltd. Chongqing Duwei Chuangda Electronic Technology Co., Ltd. ● A PRC limited liability company ● Incorporated on June 13, 2023 ● Registered capital of $141,189 (RMB1,000,000) ● Technical development and service 100% owned by Xiamen Duwei Consulting Management Co., Ltd Guangzhou Huangxin Management Co.,Ltd ● A PRC limited liability company ● Incorporated on July 5, 2023 ● Registered capital of $1,000,000 ● Supply chain information for diamond trading 100% owned by Golden Alpha Strategy Limited Blue Hat Technology LLC ● A U.S.A limited liability company ● Incorporated on July 21, 2023 ● Logistic information service 100% owned by Golden Strategy Ltd.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of estimated useful lives	Schedule of estimated useful lives Category Depreciation method Estimated useful lives Building Straight-line 20 Electronic devices Straight-line 3 Office equipment, fixtures and furniture Straight-line 3 Automobile Straight-line 3

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Xiamen Shengruihao [Member]
Business Acquisition [Line Items]
Schedule of goodwill acquired	Schedule of goodwill acquired Prepayments $ 1,436 Total assets acquired $ 1,436 Other payables (4,814 ) Tax payables (238 ) Total Liabilities (5,052 ) Net identifiable liabilities assumed (3,616 ) Less: Foreign currency translation (70 ) Add: Goodwill 3,681 Total purchase price for acquisition net of $5 of cash $ (5 )
Fresh Joy [Member]
Business Acquisition [Line Items]
Schedule of goodwill acquired	Schedule of goodwill acquired Accounts receivables $ 6,432,414 Other receivables 49,704 Prepayments, net 1,797,617 Right-of-use assets 91,513 Property, plant and equipment, net 148,095 Intangible assets 6,876,455 Deferred tax assets 136,546 Total assets acquired $ 15,532,344 Accrued expenses and other payables 2,462,953 Taxes payable 2,185,779 Customer deposits 597,380 Short term loans, bank 849,959 Operating lease liability 96,131 Total Liabilities $ 6,192,202 Net identifiable assets acquired 9,340,142 Less: Non-controlling interest 5,379,104 Add: Goodwill 3,792,056 Total purchase price for acquisition net of $20,506 of cash $ 7,753,094
Fujian Youth Hand In Hand Educational Technology [Member]
Business Acquisition [Line Items]
Schedule of goodwill acquired	Schedule of goodwill acquired Accounts receivables $ 78,772 Other receivables 10,321 Inventories 2,955 Prepayments 1,215,130 Property, plant and equipment, net 153 Intangible assets, net 910,284 Total assets acquired $ 2,217,615 Accrued expenses and other payables 1,993,335 Total Liabilities 1,993,335 Net identifiable assets acquired 224,280 Less: 48.5% owned by Blue Hat Interactive Entertainment Technology 75,547 Add: Goodwill 14,537 Total purchase price for acquisition net of $944 of cash $ 163,270

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
Schedule of accounts receivable, net	Schedule of accounts receivable, net December 31, December 31, 2023 2022 Accounts receivable $ 28,816,059 $ 14,025,634 Allowance for doubtful accounts (13,658,675 ) (4,854,638 ) Total accounts receivable, net $ 15,157,384 $ 9,170,996
Schedule of movements of allowance for doubtful accounts	Schedule of movements of allowance for doubtful accounts Beginning balance $ 4,854,638 $ 6,186,410 Addition/ (Write-off) 8,929,110 (1,035,345 ) Exchange rate effect (125,073 ) (296,427 ) Ending balance $ 13,658,675 $ 4,854,638

OTHER RECEIVABLES, NET (Tables)

OTHER RECEIVABLES, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Other Receivables Net
Schedule of other receivables	Schedule of other receivables December 31, December 31, 2023 2022 Deposit for business acquisitions $ 12,139,263 $ 12,345,111 Deposit for set-up of research center 84,714 86,150 Others 5,439,957 4,762,413 Allowance for doubtful accounts (13,481,228 ) (12,489,219 ) Total other receivables, net $ 4,182,706 $ 4,704,455
Schedule of movements of allowance for doubtful accounts	Schedule of movements of allowance for doubtful accounts Beginning balance $ 12,489,219 $ 13,652,322 Addition/(Write-off) 1,207,145 (22,869 ) Exchange rate effect (215,136 ) (1,140,234 ) Ending balance $ 13,481,228 $ 12,489,219

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of inventories, net	Schedule of inventories, net December 31, December 31, 2023 2022 Diamonds $ 17,178,241 $ — Platinum 366,912 — Total prepayments, net $ 17,545,153 $ —

PREPAYMENTS, NET (Tables)

PREPAYMENTS, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Prepayments Net
Schedule of prepayments, net	Schedule of prepayments, net December 31, December 31, 2023 2022 Prepayments $ 36,588 $ 19,464 Prepaid research and development expenses 2,388,435 61,370 Other — 2,495,570 Total prepayments, net $ 2,425,023 $ 2,576,404 December 31, December 31, 2023 2022 Prepayments - current $ 464,129 $ 503,911 Prepayments - non-current 10,212,984 10,353,273 doubtful accounts - current (427,541 ) (423,077 ) Impairment loss (7,824,549 ) (7,857,703 ) Total prepayments, net $ 2,425,023 $ 2,576,404
Schedule of movements of allowance for doubtful accounts and impairment loss	Schedule of movements of allowance for doubtful accounts and impairment loss Beginning balance $ 8,280,780 $ 9,040,265 Addition 110,015 4,925 Exchange rate effect (138,705 ) (764,410 ) Ending balance $ 8,252,090 $ 8,280,780

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of supplemental balance sheet	Schedule of supplemental balance sheet Location on Face of December 31, Balance Sheet 2023 Operating leases: Operating lease right of use assets Operating lease, right-of-use assets $ 2,353,083 Current operating lease liabilities Operating lease liabilities - current $ 235,470 Noncurrent operating lease liabilities Operating lease liabilities 2,141,421 Total operating lease liabilities $ 2,376,891 Weighted average remaining lease term (in years): Operating leases 18.92 Weighted discount rate: Operating leases 4.24 %
Schedule of maturities of lease liabilities	Schedule of maturities of lease liabilities For the year ended December 31, Operating lease 2024 $ 331,484 2025 335,595 2026 341,351 2027 350,587 Thereafter 1,587,941 Total $ 2,946,958 Less: amount representing interest 570,067 Present value of future minimum lease payments 2,376,891 Less: Current obligations 235,470 Long-term obligations $ 2,141,421

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Schedule of property and equipment December 31, December 31, 2023 2022 Building $ 4,322,359 $ 4,322,359 Electronic devices 310,724 315,992 Office equipment, fixtures and furniture 40,324 32,480 Vehicle 1,212 30,788 Subtotal 4,674,619 4,701,619 Less: accumulated depreciation and amortization (1,084,461 ) (855,928 ) Less: impairment (45,407 ) (28,676 ) Total $ 3,544,751 $ 3,817,015

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible asset	Schedule of intangible asset December 31, December 31, 2023 2022 Patents $ 1,241,199 $ 1,262,246 Licensed software 16,923,586 17,210,562 Software development costs — 118,139 Less: accumulated amortization (3,766,061 ) (3,667,638 ) Less: impairment (14,398,724 ) (13,554,885 ) Intangible assets, net $ — $ 1,368,424

CREDIT FACILITIES (Tables)

CREDIT FACILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Credit Facilities
Schedule of short-term bank loans	Schedule of short-term bank loans Institute Interest Collateral/ December 31, December 31, name Maturities rate Guarantee 2023 2022 Xiamen Rural Commercial Bank February 2023 6.58 % Guarantee by 14 property rights 273,713 473,825 Total $ 273,713 $ 473,825

OTHER PAYABLES AND ACCRUED LI_2

OTHER PAYABLES AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of other payables and accrued liabilities	Schedule of other payables and accrued liabilities December 31, December 31, 2023 2022 Payables to non-trade vendors and service providers $ 3,475,685 $ 8,771,325 Salary payables 473,086 186,216 Other miscellaneous payables 79,112 56,517 Total other payables and accrued liabilities $ 4,027,883 $ 9,014,058

CONVERTIBLE NOTES PAYABLE (Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of convertible debt	Schedule of convertible debt December 31, December 31, 2023 2022 Beginning $ 1,393,499 $ — Addition — 1,550,000 Interest expenses 146,322 100,314 Paid for cash (449,999 ) — Conversion (1,089,822 ) (256,815 ) Convertible debt, net $ — $ 1,393,499

RELATED PARTY BALANCES AND TR_2

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of other receivables related party	Schedule of other receivables related party December 31, December 31, Name of Related Party Relationship - Nature 2023 2022 Xiaodong Chen CEO $ 3 $ 2 Blue Hat Fujian Shareholders’ investment company Disposal consideration 1,559,671 — Blue Hat Pingxiang Shareholders’ investment company Disposal consideration 39,070 — Fujian Lanyuncanghai Technology Co., Ltd Shareholders’ investment company Other receivable 342,979 — Xiamen Jiuqiao Tech. CEO holding company Disposal consideration — 1,427,827 Total $ 1,941,723 $ 1,427,829
Schedule of other payables related party	Schedule of other payables related party December 31, December 31, Name of Related Party Relationship - Nature 2023 2022 Xiaodong Chen CEO Lease and other payable $ — $ 18,848 Bequtiful Jade Ltd Shareholders’ investment company Attorney fee — 3,795 Total $ — $ 22,643
Schedule of long term loan related party	Schedule of long term loan related party December 31, December 31, Name of Related Party Relationship - Nature 2023 2022 Xiaodong Chen CEO Borrowing $ 831,155 $ 914,771 Bequtiful Jade Ltd Shareholders’ investment company Attorney fee 3,795 — Total $ 834,950 $ 914,771

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	Schedule of provision for income taxes December 31, December 31, 2023 2022 Current $ 6,081 $ 1,097,888 The provision for income taxes $ 6,081 $ 1,097,888
Schedule of effective tax rate	Schedule of effective tax rate Year ended Year ended Year ended December 31, December 31, December 31, 2023 2022 2021 China statutory income tax rate 25.0 % 25.0 % 25.0 % Preferential tax rate reduction (10.0 )% (10.0 )% (10.0 )% Preferential Blue Hat Pingxiang tax rate reduction — — — Permanent difference (15.2 )% (15.2 )% (15.2 )% Effective tax rate (0.2 )% (0.2 )% (0.2 )%
Schedule of taxes payable	Schedule of taxes payable December 31, December 31, 2023 2022 VAT taxes payable $ 441,704 $ 471,604 Income taxes payable 183,171 180,244 Other taxes payable 180,702 189,487 Totals $ 805,577 $ 841,335

IMPAIRMENT LOSS (Tables)

IMPAIRMENT LOSS (Tables)	12 Months Ended
	Dec. 31, 2023
Impairment Loss
Schedule of impairment loss	Schedule of impairment loss Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Acquisition of Shengruihao - goodwill $ — $ 3,681 $ — Acquisition of Fujian Youth Hand in Hand Educational Technology Co., Ltd - goodwill — — 14,537 Impairment loss — (3,681 ) (14,537 )

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations
Schedule of loss from discontinued operations	Schedule of loss from discontinued operations December 31 December 31, 2023 2022 Revenues $ — $ 5,180,055 Cost of sales — (2,419,222 ) Gross profit — 2,760,833 Operating expenses: General and Administrative — (144,570 ) Selling expenses — (973,688 ) Research and development — (1,726,906 ) Total — $ (2,845,164 ) Other income (expense) Interest income $ — $ — Other (expense) income, net — (197,395 ) Other finance expenses — (301 ) Total — (197,696 ) Loss from discontinued operations before income tax — (282,027 ) Income tax provision — — Loss from discontinued operations before non-controlling interest $ — $ (282,027 ) Less: Net loss attributable to non-controlling interest — — Foreign currency translation — 258,828 Gain/(Loss) from discontinued operation $ 7,389,310 $ (23,199 )
Schedule of components of assets and liabilities	Schedule of components of assets and liabilities December 31, December 31, 2023 2022 Cash $ — $ 7,262 Accounts receivable — 4,320,498 Other current assets — 1,084 Prepayments, net — 1,748,710 Property, plant and equipment, net — 17,636 Intangible assets, net — 3,282,548 Total assets related to discontinued operations — 9,377,738 Accounts payable — 560,539 Short term loans - banks — 788,119 Other payables and accrued expenses — 2,432,995 Other payables - related party — 142,300 Customer deposits — 880,350 Tax payables — 1,896,165 Total liabilities related to discontinued operations $ — $ 6,700,468

SEGMENT INFORMATION AND REVEN_2

SEGMENT INFORMATION AND REVENUE ANALYSIS (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of disaggregated information of revenues by business lines	Schedule of disaggregated information of revenues by business lines Year ended Year ended Year ended December 31, December 31, December 31, 2023 2022 2021 Diamond trading $ 15,152,777 $ — $ — Commodity trading 58,118,001 1,149,163 — Information service 415,955 884,329 1,608,519 Interactive toys - animation series — 6,903 657,619 Interactive toys - game series — 155,559 8,723,480 Mobile game — — 1,149,882 Total revenues $ 73,686,733 $ 2,195,954 $ 12,139,500
Schedule of disaggregated information by business lines	Schedule of disaggregated information by business lines Diamond Trading Commodity Trading Information service Interactive toys animation series Interactive toys Mobile game Revenue $ 15,152,777 $ 58,118,001 $ 415,955 $ — $ — $ — Costs of revenue (13,901,688 ) (58,081,952 ) (549,242 ) — — — Gross Profit 1,251,089 36,049 (133,287 ) — — — Year ended December 31, 2022 Interactive toys Interactive toys Commodity Trading Information Revenue $ 6,903 $ 155,559 $ 1,149,163 $ 884,329 Costs of revenue (3,420 ) (78,118 ) (50,804 ) (826,096 ) Gross Profit $ 3,483 $ 77,441 $ 1,098,359 $ 58,233 Year ended December 31, 2021 Interactive toys Interactive toys Mobile game Information Revenue $ 657,619 $ 8,723,480 $ 1,149,882 $ 1,608,519 Costs of revenue (140,450 ) (4,340,776 ) — (1,301,438 ) Gross Profit $ 517,169 $ 4,382,704 $ 1,149,882 $ 307,081
Schedule of disaggregated information of revenues by geographic locations	Schedule of disaggregated information of revenues by geographic locations Year ended Year ended Year ended Domestic PRC revenues $ 73,686,733 $ 2,195,954 $ 12,139,500 Export revenues — — — Total revenues $ 73,686,733 $ 2,195,954 $ 12,139,500
Schedule of segment asset	Schedule of segment asset December 31, December 31, 2023 2022 Diamond trading $ 33,029,615 — Commodity trading 114,900 159,666 Information service 2,507,120 2,646,806 Interactive toys — 10,379,754 Corporate and Unallocated 13,611,203 11,712,894 Assets related to discontinued operation — 9,377,738 Total 49,262,838 34,276,858

CONDENSED FINANCIAL INFORMATI_2

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Of Parent Company
Schedule of condensed financial information of the parent company	Schedule of condensed financial information of the parent company December 31, December 31, ASSETS Current assets: Cash and cash equivalents $ 23,107 $ 6,791 Account receivables, net 15,090,224 — Other receivables, net 4,299,894 3,524,253 Inventories 17,178,241 — Total current assets 36,591,466 3,531,044 Non-current assets: Property, plant and equipment, net 3,526,773 3,731,963 Investment in subsidiaries 1,961,211 17,619,903 Total non-current assets 5,487,984 21,351,866 Total assets $ 42,079,450 $ 24,882,910 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES Other payables and accrued liabilities $ 622,425 $ 8,041,502 Other payables - related party — 3,799 Short-term loans — — Convertible notes payable — — Total current liabilities 622,425 8,045,301 Non-current liabilities 834,950 2,308,270 Total liabilities 1,457,375 10,353,571 COMMITMENTS AND CONTINGENCIES — — SHAREHOLDERS’ EQUITY Ordinary shares, $0.01 par value, 100,000,000 shares authorized, 58,398,281, 9,894,734, shares issued and outstanding as of December 31, 2023 and 2022 respectively 583,983 98,947 Additional paid-in capital 93,828,090 44,145,826 Statutory reserves 2,143,252 2,143,252 Retained earnings (56,832,015 ) (35,113,598 ) Accumulated other comprehensive losses 898,766 834,513 Total Blue Hat Interactive Entertainment Technology shareholders’ equity 40,622,075 12,108,940 Non-controlling interest — 2,420,399 Total equity 40,622,075 14,529,339 Total liabilities and shareholders’ equity $ 42,079,450 $ 24,882,910 PARENT COMPANY STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Year ended Year ended Year ended 2023 2022 2021 Revenues 15,152,777 — — Cost of sales (13,901,688 ) — — Gross profit 1,251,089 — — Operating expenses: General and administrative expenses $ (2,195,689 ) $ (2,621,808 ) $ (1,169,384 ) Research and development (2,438,520 ) (2,278,990 ) — Impairment loss (12,600,000 ) Other income (expenses): (Interest expense)/interest income (146,322 ) (100,314 ) (169,366 ) Other finance expenses (60,032 ) (6,998 ) (10,442 ) Equity income of subsidiaries and VIEs from continue operation (12,918,251 ) (4,114,945 ) (50,143,624 ) Equity income of subsidiaries and VIEs from discontinued operation 7,389,310 (282,027 ) (8,561,804 ) NET (LOSS) INCOME (21,718,417 ) (9,405,081 ) (60,054,620 ) FOREIGN CURRENCY Translation adjustment from continued operation (199,032 ) (1,883,571 ) 651,272 Translation adjustment from discontinued operation 263,285 258,828 66,288 COMPREHENSIVE (LOSS) INCOME $ (21,654,164 ) $ (11,029,824 ) $ (59,337,060 ) Less: Comprehensive income attributable to non-controlling interest (2,420,399 ) (40,025 ) (2,918,680 ) Comprehensive income attributable to Blue Hat Interactive Entertainment Technology shareholders $ (19,233,765 ) $ (10,989,799 ) $ 56,418,380 PARENT COMPANY STATEMENTS OF CASH FLOWS Year ended Year ended Year ended December 31, December 31, December 31, 2023 2022 2021 CASH FLOWS FROM OPERATING ACTIVITIES: Net income from continued operation $ (29,107,727 ) $ (9,123,054 ) $ (51,492,816 ) Adjustments to reconcile net income to cash used in operating activities: Impairment loss of inventory 12,600,000 Equity income of subsidiaries and VIEs 12,918,251 4,114,945 50,143,624 Changes in operating assets and liabilities: Depreciation of property and equipment 205,190 205,259 205,398 Other receivables (15,865,859 ) (3,319,855 ) 395,600 Inventories (17,178,241 ) — — Other payables and accrued liabilities (7,419,077 ) (323,274 ) 5,869,181 Net cash used in operating activities (43,847,463 ) (8,445,980 ) 5,120,987 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment 7,773,600 — — Investment in subsidiary — (1,767,824 ) (14,923,600 ) Net cash used in investing activities 7,773,600 (1,767,824 ) (14,923,600 ) CASH FLOWS FROM FINANCING ACTIVITIES: Underwriter’s partial exercise of over-allotment option, net of issuance costs 37,567,299 7,908,956 12,830,780 Other payables related party (3,799 ) (5,389 ) 5,880 Repayment of short-term loans — — (2,998,994 ) Proceeds from long-term loans - related party — 914,771 — Repayment of long-term loans - related party (79,821 ) — — Repayment of convertible payables (1,393,499 ) — (739,189 ) Proceeds from convertible payables — 1,393,499 — Net cash used in investing activities 36,090,179 10,211,837 9,098,477 EFFECT OF EXCHANGE RATE ON CASH — — — NET CHANGES IN CASH AND CASH EQUIVALENTS 16,316 (1,967 ) (704,136 ) CASH AND CASH EQUIVALENTS, Beginning of year 6,791 8,758 712,894 CASH AND CASH EQUIVALENTS, end of year $ 23,107 $ 6,791 $ 8,758 SUPPLEMENTAL CASH FLOW INFORMATION: Cash and cash equivalents $ 23,107 $ 6,791 $ 8,758 Restricted cash — — — CASH AND CASH EQUIVALENTS, end of year $ 23,107 $ 6,791 $ 8,758

ORGANIZATION AND PRINCIPAL AC_3

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details) - Series of Individually Immaterial Business Acquisitions [Member]	12 Months Ended
	Dec. 31, 2023
Brilliant Hat Limited [Member]
Background	● A British Virgin Islands company   ● Incorporated on June 26, 2018   ● A holding company
Ownership	100% owned by Blue Hat Interactive Entertainment Technology
Name	Brilliant Hat Limited
Blue Hat Interactive Entertainment Technology Limited [Member]
Background	● A Hong Kong company   ● Incorporated on June 26, 2018   ● A holding company
Ownership	100% owned by Brilliant Hat Limited
Name	Blue Hat Interactive Entertainment Technology Limited
Xiamen Duwei Consulting Management Co. Ltd. [Member]
Background	● A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”).   ● Incorporated on July 26, 2018   ● Registered capital of $20,000,000   ● A holding company.
Ownership	100% owned by Blue Hat Interactive Entertainment Technology Limited.
Name	Xiamen Duwei Consulting Management Co., Ltd.
Fujian Blue Hat Group Co. Ltd. [Member]
Background	● A PRC limited liability company   ● Incorporated on August 23, 2021.   ● A holding company
Ownership	100% owned by Blue Hat Interactive Entertainment Technology Limited.
Name	Fujian Blue Hat Group Co. Ltd.
Fujian Youth Hand In Hand Educational Technology Co. Ltd. [Member]
Background	● A PRC limited liability company, acquired on February 2021.   ● Incorporated on September 18, 2017   ● Registered capital of $3,106,214 (RMB 20,100,000)   ● Educational consulting service and sports related.
Ownership	100% owned by Xiamen Duwei Consulting Management Co., Ltd.
Name	Fujian Youth Hand in Hand Educational Technology Co., Ltd.
Hunan Engaomei Animation Culture Development Co. Ltd [Member]
Background	● A PRC limited liability company   ● Incorporated on October 19, 2017   ● Registered capital of $302,540 (RMB 2,000,000)   ● Designing, producing, promoting and selling animated toys with mobile games features, original intellectual property and peripheral derivatives features.
Ownership	100% owned by Xiamen Duwei Consulting Management Co., Ltd.
Name	Hunan Engaomei Animation Culture Development Co., Ltd.
Xiamen Bluehat Research Institution Of Education [Member]
Background	● A PRC limited liability company   ● Incorporated on February 20, 2021   ● Information Technology consulting service
Ownership	100% owned by Xiamen Duwei Consulting Management Co., Ltd.
Name	Xiamen Bluehat Research Institution of Education Co., Ltd
Fuzhou Qiande Educational Technology [Member]
Background	● A PRC limited liability company   ● Incorporated on March 24, 2021   ● Information Technology consulting service
Ownership	100% owned by   Fujian Youth Hand in   Hand Educational   Technology Co., Ltd.
Name	Fuzhou Qiande Educational Technology Co., Ltd.
Xiamen Shengruihao Technology Co. Ltd [Member]
Background	● A PRC limited liability company, acquired on September 30, 2022   ● Incorporated on June 30, 2021   ● Registered capital of $ 4,463,754 (RMB 30,000,000)   ● Software development, animation design and web design
Ownership	100% owned by Fujian Blue Hat Group Co. Ltd.
Name	Xiamen Shengruihao Technology Co., Ltd
Golden Strategy Ltd. [Member]
Background	● A British Virgin Islands company   ● Incorporated on April 3, 2023   ● Registered capital of $50,000   ● Gold derivative information service
Ownership	100% owned by Blue Hat Interactive Entertainment Technology.
Name	Golden Strategy Ltd.
Golden Alpha Strategy Limited [Member]
Background	● A Hong Kong company   ● Incorporated on April 18, 2023   ● Diamond trading
Ownership	100% owned by Golden Strategy Ltd.
Name	Golden Alpha Strategy Limited
Chongqing Duwei Chuangda Electronic Technology Co Ltd. [Member]
Background	● A PRC limited liability company   ● Incorporated on June 13, 2023   ● Registered capital of $141,189 (RMB1,000,000)   ● Technical development and service
Ownership	100% owned by Xiamen Duwei Consulting Management Co., Ltd
Name	Chongqing Duwei Chuangda Electronic Technology Co., Ltd.
Guangzhou Huangxin Management Co Ltd [Member]
Background	● A PRC limited liability company   ● Incorporated on July 5, 2023   ● Registered capital of $1,000,000   ● Supply chain information for diamond trading
Ownership	100% owned by Golden Alpha Strategy Limited
Name	Guangzhou Huangxin Management Co.,Ltd
Blue Hat Technology L L C [Member]
Background	● A U.S.A limited liability company   ● Incorporated on July 21, 2023   ● Logistic information service
Ownership	100% owned by Golden Strategy Ltd.
Name	Blue Hat Technology LLC

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Details)	Dec. 31, 2023
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Electronic Devices [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Details Narrative)					12 Months Ended
	Jun. 08, 2023 USD ($)	Dec. 20, 2021 USD ($)	Nov. 15, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 USD ($) ¥ / shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) ¥ / shares	Dec. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) ¥ / shares
Operating loss from continuing operations					$ 29,110,000
Operating cash flows					9,770,000
Translation adjustments					898,766		$ 834,513		$ 2,459,256
Historical rate | ¥ / shares						¥ 7.08		¥ 6.96		¥ 6.38
Average translation rates | ¥ / shares						¥ 7.04		¥ 6.70		¥ 6.45
Allowance for the doubtful accounts					13,658,675	¥ 13,658,675	4,854,638	¥ 4,854,638	6,186,410	¥ 6,186,410
Allowance for the doubtful accounts, Other receivables					13,481,228	13,481,228	12,489,219	12,489,219
Allowance for doubtful accounts prepayments					427,541	427,541	423,077	423,077
Impairment loss allowance					7,824,549	¥ 7,824,549	7,857,703	¥ 7,857,703
Impairment for long-lived assets					1,093,305		29,716		14,632,931
Shipping and handling costs					521		4,481		32,541
Advertising costs					0		977,631		3,494,507
Government subsidies					$ 70,148		$ 19,969		50,608
Dilutive shares | shares					30,975,275		8,565,163
Employee benefits					$ 1,014		$ 1,599,627		$ 76,843
Xunpusen (Xiamen) Technology Co. Ltd. [Member]
Gain on disposal				$ 683,688
Xiamen Jiuqiao Technology [Member]
Gain on disposal		$ 811,269
Shenyang Qimengxing Trading Co., Ltd. [Member]
Gain on disposal			$ 1,012
Variable Entity And Subsidiaries [Member]
Gain on disposal	$ 7,389,310

ACQUISITIONS (Details)

ACQUISITIONS (Details) - Xiamen Shengruihao [Member]	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Prepayments	$ 1,436
Total assets acquired	1,436
Other payables	(4,814)
Tax payables	(238)
Total Liabilities	(5,052)
Net identifiable liabilities assumed	(3,616)
Less: Foreign currency translation	(70)
Add: Goodwill	3,681
Total purchase price for acquisition net of $5 of cash	$ (5)

ACQUISITIONS (Details 1)

ACQUISITIONS (Details 1) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Customer deposits	$ 3,020	$ 19,629
Operating lease liability	2,376,891
Less: Non-controlling interest		$ 2,420,399
Fresh Joy [Member]
Business Acquisition [Line Items]
Accounts receivables	6,432,414
Other receivables	49,704
Prepayments, net	1,797,617
Right-of-use assets	91,513
Property, plant and equipment, net	148,095
Intangible assets	6,876,455
Deferred tax assets	136,546
Total assets acquired	15,532,344
Accrued expenses and other payables	2,462,953
Taxes payable	2,185,779
Customer deposits	597,380
Short term loans, bank	849,959
Operating lease liability	96,131
Total Liabilities	6,192,202
Net identifiable assets acquired	9,340,142
Less: Non-controlling interest	5,379,104
Add: Goodwill	3,792,056
Total purchase price for acquisition net of $20,506 of cash	$ 7,753,094

ACQUISITIONS (Details 2)

ACQUISITIONS (Details 2) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Less: 48.5% owned by Blue Hat Interactive Entertainment Technology		$ 2,420,399
Fujian Youth Hand In Hand Educational Technology [Member]
Business Acquisition [Line Items]
Accounts receivables	78,772
Other receivables	10,321
Inventories	2,955
Prepayments	1,215,130
Property, plant and equipment, net	153
Intangible assets, net	910,284
Total assets acquired	2,217,615
Accrued expenses and other payables	1,993,335
Total Liabilities	1,993,335
Net identifiable assets acquired	224,280
Less: 48.5% owned by Blue Hat Interactive Entertainment Technology	75,547
Add: Goodwill	14,537
Total purchase price for acquisition net of $944 of cash	$ 163,270

ACCOUNTS RECEIVABLE, NET (Detai

ACCOUNTS RECEIVABLE, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Accounts receivable	$ 28,816,059	$ 14,025,634
Allowance for doubtful accounts	(13,658,675)	(4,854,638)	$ (6,186,410)
Total accounts receivable, net	$ 15,157,384	$ 9,170,996

ACCOUNTS RECEIVABLE, NET (Det_2

ACCOUNTS RECEIVABLE, NET (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Credit Loss [Abstract]
Beginning balance	$ 4,854,638	$ 6,186,410
Addition/ (Write-off)	8,929,110	(1,035,345)
Exchange rate effect	(125,073)	(296,427)
Ending balance	$ 13,658,675	$ 4,854,638

OTHER RECEIVABLES, NET (Details

OTHER RECEIVABLES, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Other Receivables Net
Deposit for business acquisitions	$ 12,139,263	$ 12,345,111
Deposit for set-up of research center	84,714	86,150
Others	5,439,957	4,762,413
Allowance for doubtful accounts	(13,481,228)	(12,489,219)
Total other receivables, net	$ 4,182,706	$ 4,704,455

OTHER RECEIVABLES, NET (Detai_2

OTHER RECEIVABLES, NET (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other Receivables Net
Beginning balance	$ 12,489,219	$ 13,652,322
Addition/(Write-off)	1,207,145	(22,869)
Exchange rate effect	(215,136)	(1,140,234)
Ending balance	$ 13,481,228	$ 12,489,219

OTHER RECEIVABLES, NET (Detai_3

OTHER RECEIVABLES, NET (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($)
Yiang [Member]
Defined Benefit Plan Disclosure [Line Items]
Payment of refundable deposit	$ 5,893,057
Zhongrun [Member]
Defined Benefit Plan Disclosure [Line Items]
Payment of refundable deposit	$ 84,714

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Total prepayments, net	$ 17,545,153
Diamonds [Member]
Inventory [Line Items]
Total prepayments, net	17,178,241
Platinum [Member]
Inventory [Line Items]
Total prepayments, net	$ 366,912

PREPAYMENTS, NET (Details)

PREPAYMENTS, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Prepayments Net
Prepayments	$ 36,588	$ 19,464
Prepaid research and development expenses	2,388,435	61,370
Other		2,495,570
Total prepayments, net	2,425,023	2,576,404
Prepayments - current	464,129	503,911
Prepayments - non-current	10,212,984	10,353,273
doubtful accounts - current	427,541	423,077
Impairment loss	(7,824,549)	(7,857,703)
Total prepayments, net	$ 2,425,023	$ 2,576,404

PREPAYMENTS, NET (Details 1)

PREPAYMENTS, NET (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Prepayments Net
Beginning balance	$ 8,280,780	$ 9,040,265
Addition	110,015	4,925
Exchange rate effect	(138,705)	(764,410)
Ending balance	$ 8,252,090	$ 8,280,780

LEASES (Details)

LEASES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right of use assets	$ 2,353,083	$ 40,596
Current operating lease liabilities	235,470	11,261
Noncurrent operating lease liabilities	2,141,421	$ 31,041
Total operating lease liabilities	$ 2,376,891
Weighted average remaining lease term (in years) operating leases	18 years 11 months 1 day
Weighted discount rate operating leases	4.24%

LEASES (Details 1)

LEASES (Details 1) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 331,484
2025	335,595
2026	341,351
2027	350,587
Thereafter	1,587,941
Total	2,946,958
Less: amount representing interest	570,067
Present value of future minimum lease payments	2,376,891
Less: Current obligations	235,470	$ 11,261
Long-term obligations	$ 2,141,421	$ 31,041

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 283,342	$ 329,595	$ 402,416
Operating lease commitments	$ 0	$ 0

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Subtotal	$ 4,674,619	$ 4,701,619
Less: accumulated depreciation and amortization	(1,084,461)	(855,928)
Less impairment	(45,407)	(28,676)
Total	3,544,751	3,817,015
Building [Member]
Property, Plant and Equipment [Line Items]
Subtotal	4,322,359	4,322,359
Electronic Devices [Member]
Property, Plant and Equipment [Line Items]
Subtotal	310,724	315,992
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Subtotal	40,324	32,480
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Subtotal	$ 1,212	$ 30,788

PROPERTY AND EQUIPMENT, NET (_2

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 260,883	$ 185,083	$ 344,570

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Less: accumulated amortization	$ (3,766,061)	$ (3,667,638)
Less: impairment	(14,398,724)	(13,554,885)
Intangible assets, net		1,368,424
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	1,241,199	1,262,246
License [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	16,923,586	17,210,562
Software Development [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross		$ 118,139

INTANGIBLE ASSETS, NET (Detai_2

INTANGIBLE ASSETS, NET (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 159,579	$ 169,149	$ 1,557,016

LONG-TERM INVESTMENTS (Details

LONG-TERM INVESTMENTS (Details Narrative) - Xiamen Blue Wave [Member] - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020	Sep. 20, 2018
Equity interest				20%
Ownership percentage diluted				15%
Carrying value of cost method investment	$ 1,694,269	$ 1,722,999	$ 1,882,146

CREDIT FACILITIES (Details)

CREDIT FACILITIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Short-term bank loans	$ 273,713	$ 473,825
Xiamen Rural Commercial Bank [Member]
Short-Term Debt [Line Items]
Maturities	February 2023
Interest rate	6.58%
Collateral/ Guarantee	Guarantee by 14 property rights
Short-term bank loans	$ 273,713	$ 473,825

CREDIT FACILITIES (Details Narr

CREDIT FACILITIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Credit Facilities
Principle and interest repaid	$ 40,906
Interest expense	$ 26,530	$ 33,569	$ 52,452

OTHER PAYABLES AND ACCRUED LI_3

OTHER PAYABLES AND ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Payables to non-trade vendors and service providers	$ 3,475,685	$ 8,771,325
Salary payables	473,086	186,216
Other miscellaneous payables	79,112	56,517
Total other payables and accrued liabilities	$ 4,027,883	$ 9,014,058

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Beginning Balance	$ 1,393,499
Addition		1,550,000
Interest expenses	146,322	100,314
Paid for cash	(449,999)		$ (739,189)
Conversion	(1,089,822)	(256,815)
Convertible debt, net		$ 1,393,499

CONVERTIBLE NOTES PAYABLE (De_2

CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)		12 Months Ended
	Oct. 14, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Gross proceeds from issuance of convertible note			$ (1,550,000)
Conversion price	80%
Convertible Debt [Member]
Debt Instrument [Line Items]
Share price		$ 0.01
Gross proceeds from issuance of convertible note		$ 1,550,000
Conversion principal amount		$ 1,705,000
Conversion price		6%
Share price	$ 0.70
Floor Price	$ 0.70
Convertible Debt [Member] | Streeterville Capital L L C [Member]
Debt Instrument [Line Items]
Conversion principal amount	$ 1,705,000
Conversion price	6%

RELATED PARTY BALANCES AND TR_3

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Account receivables - related party	$ 1,941,723	$ 1,427,829
Xiaodong Chen [Member]
Related Party Transaction [Line Items]
Account receivables - related party	3	2
Blue Hat Fujian [Member]
Related Party Transaction [Line Items]
Account receivables - related party	1,559,671
Blue Hat Pingxiang [Member]
Related Party Transaction [Line Items]
Account receivables - related party	39,070
Fujian Lanyuncanghai Technology Co Ltd [Member]
Related Party Transaction [Line Items]
Account receivables - related party	342,979
Xiamen Jiuqiao Tech [Member]
Related Party Transaction [Line Items]
Account receivables - related party		$ 1,427,827

RELATED PARTY BALANCES AND TR_4

RELATED PARTY BALANCES AND TRANSACTIONS (Details 1) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Other payables - related party		$ 22,643
Xiaodong Chen [Member]
Related Party Transaction [Line Items]
Other payables - related party		18,848
Bequtiful Jade Ltd [Member]
Related Party Transaction [Line Items]
Other payables - related party		$ 3,795

RELATED PARTY BALANCES AND TR_5

RELATED PARTY BALANCES AND TRANSACTIONS (Details 2) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Long term loans - related party	$ 834,950	$ 914,771
Xiaodong Chen [Member]
Related Party Transaction [Line Items]
Long term loans - related party	831,155	914,771
Bequtiful Jade Ltd [Member]
Related Party Transaction [Line Items]
Long term loans - related party	$ 3,795

Taxes (Details)

Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current	$ 6,081	$ 1,097,888
The provision for income taxes	$ 6,081	$ 1,097,888	$ 1,104

Taxes (Details 1)

Taxes (Details 1)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
China statutory income tax rate	25%	25%	25%
Preferential tax rate reduction	(10.00%)	(10.00%)	(10.00%)
Permanent difference	(15.20%)	(15.20%)	(15.20%)
Effective tax rate	(0.20%)	(0.20%)	(0.20%)

Taxes (Details 2)

Taxes (Details 2) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
VAT taxes payable	$ 441,704	$ 471,604
Income taxes payable	183,171	180,244
Other taxes payable	180,702	189,487
Totals	$ 805,577	$ 841,335

Taxes (Details Narrative)

Taxes (Details Narrative) - USD ($)		12 Months Ended
	Apr. 30, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Tax savings		$ 8,847,998	$ 6,402,621	$ 0
Basic earnings per shares		$ 0.3	$ 0.03	$ 0
Diluted earnings per shares		$ 0.3	$ 0.03	$ 0
Allowance for doubtful accounts		$ 35,000,000	$ 26,000,000	$ 29,000,000
Deferred tax assets		0	0	0
Uncertain tax positions		$ 0	$ 0	$ 0
Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Tax rate		16.50%
Chinese VAT [Member]
Operating Loss Carryforwards [Line Items]
Value added tax rate	16%
Chinese VAT 1 [Member]
Operating Loss Carryforwards [Line Items]
Value added tax rate	13%
Chinese V A T 2 [Member]
Operating Loss Carryforwards [Line Items]
Value added tax rate	6%

CONCENTRATION OF RISK (Details

CONCENTRATION OF RISK (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Cash	$ 409,175	$ 70,402	$ 50,449
One Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17.15%	18.60%	14.60%
One Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	36.20%	13.70%	12.90%
Two Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.14%	16.80%	10.90%
Two Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	26.90%	11.70%	12.40%
Three Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		16.20%
Three Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	19%	11.40%	10.90%
Four Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.90%
Four Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17.30%
Five Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.20%
First Vendor [Member] | Purchases [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	28.98%	22.67%	39.72%
Second Vendor [Member] | Purchases [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	20%	13.82%	29.96%
Third Vendor [Member] | Purchases [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		13.09%	28.40%
One Vendor [Member] | Accounts Payable [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	37.50%	13.70%	10.10%
Two Vendor [Member] | Accounts Payable [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	14.37%
Three Vendor [Member] | Accounts Payable [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.53%
Four Vendor [Member] | Accounts Payable [Member] | Vendor Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.12%

SHAREHOLDERS_ EQUITY (Details N

SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)									1 Months Ended		12 Months Ended
	Aug. 29, 2023	Jun. 28, 2023	Aug. 04, 2022	Aug. 02, 2022	Jul. 26, 2022	Jun. 30, 2022	Jun. 06, 2022	May 24, 2022	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 31, 2023	Jul. 11, 2022	May 10, 2022	Mar. 30, 2022	Dec. 09, 2020	Jul. 15, 2020	Jun. 13, 2018
Class of Stock [Line Items]
Common stock, shares authorized											500,000,000	500,000,000
Common stock, par value											$ 0.01	$ 0.01
Closing price per share		$ 1.01
Closing purchase price		42,000,000
Statutory reserves
Capital contributions											$ 37,567,299	7,908,957	12,830,780
Equity Incentive Plan 2020 [Member]
Class of Stock [Line Items]
Ordinary shares issued											600,000					10		6,000,000
Shares price											$ 0.01					$ 0.001		$ 0.001
Share consolidation																1
Consolidation shares price																$ 0.01
Blue Hat P R C [Member]
Class of Stock [Line Items]
Paid-in-capital and statutory reserve											$ 83,955,324	46,388,025	38,479,068
Statutory reserves											$ 0	$ 0	$ 60,922
Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Total consideration						$ 10,000,000
Ordinary shares issued															500,000				94,429
Shares price									$ 0.001						$ 0.01
Ordinary shares price															$ 3.60
Ordinary shares exercised			108,714	100,933	60,845
Exercise price			$ 2.24	$ 2.51	$ 2.65				$ 0.70
Warrants issued																			300,000
Reverse stock split									1-for-10 reverse split
Additional warrant amount									$ 283,425
Securities Purchase Agreement [Member] | F And P Capital Management Company Limited [Member]
Class of Stock [Line Items]
Total consideration										$ 2,800,000
Sale of ordinary shares										4,000,000
Sale of stock price										$ 0.01
Consulting Service Agreement [Member]
Class of Stock [Line Items]
Ordinary shares issued	300,000																3,000,000
Shares price								$ 0.001
Ordinary shares price														$ 0.01			$ 0.001
Aggregate shares issued																	5,000,000
Restricted ordinary shares								8,000,000
Number of common shares issued														500,000
Business operations period	6 months
Diamond Purchase Agreement [Member]
Class of Stock [Line Items]
Diamonds value		$ 31,079,929
Purchase of ordinary shares		42,000,000
Purchase price per share		$ 0.71
Total aggregate consideration		$ 29,820,000
Diamond Purchase Agreement [Member] | Alpha Infinity Fintech Inc [Member]
Class of Stock [Line Items]
Ordinary shares price		$ 0.01
Diamonds value		$ 25,472,904
Cash payment for diamond		1,300,000
Diamond Purchase Agreement [Member] | Fujian Blue Sea Resting Sun Science And Technology Limited [Member]
Class of Stock [Line Items]
Diamonds value		$ 5,607,025
Ordinary Shares [Member]
Class of Stock [Line Items]
Common stock, shares authorized																				500,000,000
Common stock, par value																				$ 0.01
Shares for reverse split							35,641,462
Requested shares							3,572,818
Additional shares issued							8,762
Ordinary Shares [Member] | Consulting Service Agreement [Member]
Class of Stock [Line Items]
Shares price								$ 0.001
Restricted ordinary shares								2,800,000
Ordinary Shares 1 [Member] | Consulting Service Agreement [Member]
Class of Stock [Line Items]
Shares price								$ 0.001
Restricted ordinary shares								2,600,000

IMPAIRMENT LOSS (Details)

IMPAIRMENT LOSS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Impairment loss		$ (3,681)	$ (14,537)
Shengruihao [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Impairment loss		3,681
Fujian Youth Hand [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Impairment loss			$ 14,537

IMPAIRMENT LOSS (Details Narrat

IMPAIRMENT LOSS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Impairment Effects on Earnings Per Share [Line Items]
Impairment loss related to goodwill	$ 13,693,305	$ 33,397
Impairment loss related to licensed software	1,075,997	0
Impairment of property plant and equipment	17,308	29,716
Goodwill impairment loss		3,681
Property, Plant and Equipment [Member]
Impairment Effects on Earnings Per Share [Line Items]
Impairment of property plant and equipment	$ 17,308	$ 29,716

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 73,686,733	$ 2,195,954	$ 12,139,500
Cost of sales	(72,532,882)	(958,438)	(5,782,664)
Gross profit	1,153,851	1,237,516	6,356,836
Operating expenses:
General and Administrative	(13,766,487)	(6,224,674)	(31,335,421)
Selling expenses	(7,677)	(159,937)	(315,600)
Research and development	(2,570,158)	(2,734,982)	(11,233,806)
Total	30,037,627	9,152,990	57,517,758
Other income (expense)
Interest income	7	374	156,038
Other finance expenses	(62,025)	(15,264)	(65,344)
Total	(217,870)	(109,692)	(330,790)
Loss from discontinued operations before income tax		(282,027)	(10,055,749)
Income tax provision	(6,081)	(1,097,888)	(1,104)
Foreign currency translation	(199,032)	(1,624,743)	$ 651,272
Discontinued Operations [Member]
Revenues		5,180,055
Cost of sales		(2,419,222)
Gross profit		2,760,833
Operating expenses:
General and Administrative		(144,570)
Selling expenses		(973,688)
Research and development		(1,726,906)
Total		(2,845,164)
Other income (expense)
Interest income
Other (expense) income, net		(197,395)
Other finance expenses		(301)
Total		(197,696)
Loss from discontinued operations before income tax		(282,027)
Income tax provision
Loss from discontinued operations before non-controlling interest		(282,027)
Less: Net loss attributable to non-controlling interest
Foreign currency translation		258,828
Gain/(Loss) from discontinued operation	$ 7,389,310	$ (23,199)

DISCONTINUED OPERATIONS (Deta_2

DISCONTINUED OPERATIONS (Details 1) - Discontinued Operations [Member] - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash		$ 7,262
Accounts receivable		4,320,498
Other current assets		1,084
Prepayments, net		1,748,710
Property, plant and equipment, net		17,636
Intangible assets, net		3,282,548
Total assets related to discontinued operations		9,377,738
Accounts payable		560,539
Short term loans - banks		788,119
Other payables and accrued expenses		2,432,995
Other payables - related party		142,300
Customer deposits		880,350
Tax payables		1,896,165
Total liabilities related to discontinued operations		$ 6,700,468

DISCONTINUED OPERATIONS (Deta_3

DISCONTINUED OPERATIONS (Details Narrative) - USD ($)	Jun. 08, 2023	Dec. 20, 2021	Nov. 15, 2021	Sep. 30, 2021
Xunpusen Technology Co Ltd [Member]
Gain on disposal				$ 683,688
Xiamen Jiuqiao Technology [Member]
Gain on disposal		$ 811,269
Shenyang Qimengxing Trading Co., Ltd. [Member]
Gain on disposal			$ 1,012
Variable Entity And Subsidaries [Member]
Gain on disposal	$ 7,389,310

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Oct. 18, 2022	Nov. 03, 2021	Sep. 14, 2021	Apr. 26, 2021
Chengguo [Member] | Sanguo Game Software Development [Member]
Product Liability Contingency [Line Items]
Total contract amount				$ 1,263,642
Contract amount paid				439,098
Total contract amount expected to be paid				$ 252,728
Chengguo [Member] | Monopoly Game Software Development [Member]
Product Liability Contingency [Line Items]
Total contract amount			$ 906,434
Contract amount paid			332,394
Total contract amount expected to be paid			$ 272,495
Chengguo [Member] | Platform Development [Member]
Product Liability Contingency [Line Items]
Total contract amount	$ 1,601,084
Contract amount paid	1,004,222
Total contract amount expected to be paid	$ 399,565
Fuzhou Qirui [Member] | Box Game Software Development [Member]
Product Liability Contingency [Line Items]
Total contract amount		$ 1,280,585
Contract amount paid		612,721
Total contract amount expected to be paid		$ 635,351

SEGMENT INFORMATION AND REVEN_3

SEGMENT INFORMATION AND REVENUE ANALYSIS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 73,686,733	$ 2,195,954	$ 12,139,500
Diamond Trading [Member]
Segment Reporting Information [Line Items]
Total revenues	15,152,777
Commodity Trading [Member]
Segment Reporting Information [Line Items]
Total revenues	58,118,001	1,149,163
Information Service [Member]
Segment Reporting Information [Line Items]
Total revenues	415,955	884,329	1,608,519
Interactive Toy Animation Series [Member]
Segment Reporting Information [Line Items]
Total revenues		6,903	657,619
Interactive Toys Game Series [Member]
Segment Reporting Information [Line Items]
Total revenues		155,559	8,723,480
Mobile Game [Member]
Segment Reporting Information [Line Items]
Total revenues			$ 1,149,882

SEGMENT INFORMATION AND REVEN_4

SEGMENT INFORMATION AND REVENUE ANALYSIS (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 73,686,733	$ 2,195,954	$ 12,139,500
Cost of sales	(72,532,882)	(958,438)	(5,782,664)
Gross Profit	1,153,851	1,237,516	6,356,836
Diamond Trading [Member]
Segment Reporting Information [Line Items]
Revenue	15,152,777
Cost of sales	(13,901,688)
Gross Profit	1,251,089
Commodity Trading [Member]
Segment Reporting Information [Line Items]
Revenue	58,118,001	1,149,163
Cost of sales	(58,081,952)	(50,804)
Gross Profit	36,049	1,098,359
Information Service [Member]
Segment Reporting Information [Line Items]
Revenue	415,955	884,329	1,608,519
Cost of sales	(549,242)	(826,096)	(1,301,438)
Gross Profit	(133,287)	58,233	307,081
Interactive Toys Animation Series [Member]
Segment Reporting Information [Line Items]
Revenue		6,903	657,619
Cost of sales		(3,420)	(140,450)
Gross Profit		3,483	517,169
Interactive Toys Game Series [Member]
Segment Reporting Information [Line Items]
Revenue		155,559	8,723,480
Cost of sales		(78,118)	(4,340,776)
Gross Profit		77,441	4,382,704
Mobile Game [Member]
Segment Reporting Information [Line Items]
Revenue			1,149,882
Cost of sales
Gross Profit			$ 1,149,882

SEGMENT INFORMATION AND REVEN_5

SEGMENT INFORMATION AND REVENUE ANALYSIS (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 73,686,733	$ 2,195,954	$ 12,139,500
Domestic P R C [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	73,686,733	2,195,954	12,139,500
Export [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues

SEGMENT INFORMATION AND REVEN_6

SEGMENT INFORMATION AND REVENUE ANALYSIS (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Segment asset	$ 49,262,838	$ 34,276,858
Diamond Trading [Member]
Segment Reporting Information [Line Items]
Segment asset	33,029,615
Commodity Trading [Member]
Segment Reporting Information [Line Items]
Segment asset	114,900	159,666
Information Service [Member]
Segment Reporting Information [Line Items]
Segment asset	2,507,120	2,646,806
Interactive Toys [Member]
Segment Reporting Information [Line Items]
Segment asset		10,379,754
Corporate And Unallocated [Member]
Segment Reporting Information [Line Items]
Segment asset	13,611,203	11,712,894
Assets Related To Discontinued Operation [Member]
Segment Reporting Information [Line Items]
Segment asset		$ 9,377,738

CONDENSED FINANCIAL INFORMATI_3

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents		$ 70,402	$ 50,449	$ 15,752,704
Other receivables, net	$ 4,182,706	4,704,455
Inventories	17,545,153
Total current assets	39,282,300	21,532,070
Non-current assets:
Property, plant and equipment, net	3,544,751	3,817,015
Total non-current assets	9,980,538	12,744,788
Total assets	49,262,838	34,276,858
LIABILITIES
Other payables and accrued liabilities	4,027,883	9,014,057
Other payables - related party		22,643
Short-term loans	273,713	473,825
Convertible notes payable		1,393,499
Total current liabilities	5,664,392	17,408,208
Non-current liabilities	2,976,371	2,339,311
Total liabilities	8,640,763	19,747,519
SHAREHOLDERS’ EQUITY
Ordinary shares, $0.01 par value, 100,000,000 shares authorized, 58,398,281, 9,894,734, shares issued and outstanding as of December 31, 2023 and 2022 respectively	583,982	98,947
Additional paid-in capital	93,828,090	44,145,826
Statutory reserves	2,143,252	2,143,252
Retained earnings	56,832,015	35,113,598
Accumulated other comprehensive losses	898,766	834,513
Total Blue Hat Interactive Entertainment Technology shareholders’ equity	40,622,075	12,108,940
Non-controlling interests		2,420,399
Total equity	40,622,075	14,529,339	17,650,206	58,949,708
Total liabilities and shareholders’ equity	49,262,838	34,276,858
Revenues	73,686,733	2,195,954	12,139,500
Cost of sales	(72,532,882)	(958,438)	(5,782,664)
Gross profit	1,153,851	1,237,516	6,356,836
Operating expenses:
General and administrative expenses	(13,766,487)	(6,224,674)	(31,335,421)
Research and development	(2,570,158)	(2,734,982)	(11,233,806)
Other income (expenses):
Translation adjustment from continued operation	199,032	1,883,571	(651,272)
Translation adjustment from discontinued operation	263,285	258,828	66,288
COMPREHENSIVE (LOSS) INCOME	2,420,399	40,025	2,918,680
Comprehensive income attributable to Blue Hat Interactive Entertainment Technology shareholders	(21,654,164)	(11,029,824)	(59,337,060)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income from continued operation	29,107,727	9,123,054	51,492,816
Changes in operating assets and liabilities:
Other receivables	(1,208,861)	385,779	24,850,497
Inventories	(17,545,153)	116,115	(41,460)
Other payables and accrued liabilities	4,986,175	(92,607)	(5,179,130)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(3,429)	(140,962)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash used in financing activities	36,090,179	10,211,837	9,098,477
EFFECT OF EXCHANGE RATE ON CASH	210,505	(1,319,437)	1,439,535
CASH AND CASH EQUIVALENTS, beginning of year	70,402	50,449	15,752,704
CASH AND CASH EQUIVALENTS, end of year		70,402	50,449
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash and cash equivalents	76,535	135,562
Restricted cash	1,587	1,129
Parent Company [Member]
Current assets:
Cash and cash equivalents	23,107	6,791	8,758	$ 712,894
Account receivables, net	15,090,224
Other receivables, net	4,299,894	3,524,253
Inventories	17,178,241
Total current assets	36,591,466	3,531,044
Non-current assets:
Property, plant and equipment, net	3,526,773	3,731,963
Investment in subsidiaries	1,961,211	17,619,903
Total non-current assets	5,487,984	21,351,866
Total assets	42,079,450	24,882,910
LIABILITIES
Other payables and accrued liabilities	622,425	8,041,502
Other payables - related party		3,799
Short-term loans
Convertible notes payable
Total current liabilities	622,425	8,045,301
Non-current liabilities	834,950	2,308,270
Total liabilities	1,457,375	10,353,571
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Ordinary shares, $0.01 par value, 100,000,000 shares authorized, 58,398,281, 9,894,734, shares issued and outstanding as of December 31, 2023 and 2022 respectively	583,983	98,947
Additional paid-in capital	93,828,090	44,145,826
Statutory reserves	2,143,252	2,143,252
Retained earnings	(56,832,015)	(35,113,598)
Accumulated other comprehensive losses	898,766	834,513
Total Blue Hat Interactive Entertainment Technology shareholders’ equity	40,622,075	12,108,940
Non-controlling interests		2,420,399
Total equity	40,622,075	14,529,339
Total liabilities and shareholders’ equity	42,079,450	24,882,910
Revenues	15,152,777
Cost of sales	(13,901,688)
Gross profit	1,251,089
Operating expenses:
General and administrative expenses	(2,195,689)	(2,621,808)	(1,169,384)
Research and development	(2,438,520)	(2,278,990)
Impairment loss	(12,600,000)
Other income (expenses):
(Interest expense)/interest income	(146,322)	(100,314)	(169,366)
Other finance expenses	(60,032)	(6,998)	(10,442)
Equity income of subsidiaries and VIEs from continue operation	(12,918,251)	(4,114,945)	(50,143,624)
Equity income of subsidiaries and VIEs from discontinued operation	7,389,310	(282,027)	(8,561,804)
NET (LOSS) INCOME	(21,718,417)	(9,405,081)	(60,054,620)
Translation adjustment from continued operation	(199,032)	(1,883,571)	651,272
Translation adjustment from discontinued operation	263,285	258,828	66,288
COMPREHENSIVE (LOSS) INCOME	(21,654,164)	(11,029,824)	(59,337,060)
Less: Comprehensive income attributable to non-controlling interest	(2,420,399)	(40,025)	(2,918,680)
Comprehensive income attributable to Blue Hat Interactive Entertainment Technology shareholders	(19,233,765)	(10,989,799)	56,418,380
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income from continued operation	(29,107,727)	(9,123,054)	(51,492,816)
Adjustments to reconcile net income to cash used in operating activities:
Impairment loss of inventory	12,600,000
Equity income of subsidiaries and VIEs	12,918,251	4,114,945	50,143,624
Changes in operating assets and liabilities:
Depreciation of property and equipment	205,190	205,259	205,398
Other receivables	(15,865,859)	(3,319,855)	395,600
Inventories	(17,178,241)
Other payables and accrued liabilities	(7,419,077)	(323,274)	5,869,181
Net cash used in operating activities	(43,847,463)	(8,445,980)	5,120,987
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	7,773,600
Investment in subsidiary		(1,767,824)	(14,923,600)
Net cash used in investing activities	7,773,600	(1,767,824)	(14,923,600)
CASH FLOWS FROM FINANCING ACTIVITIES:
Underwriter’s partial exercise of over-allotment option, net of issuance costs	37,567,299	7,908,956	12,830,780
Other payables related party	(3,799)	(5,389)	5,880
Repayment of short-term loans			(2,998,994)
Proceeds from long-term loans - related party		914,771
Repayment of long-term loans - related party	(79,821)
Repayment of convertible payables	(1,393,499)		(739,189)
Proceeds from convertible payables		1,393,499
EFFECT OF EXCHANGE RATE ON CASH
NET CHANGES IN CASH AND CASH EQUIVALENTS	16,316	(1,967)	(704,136)
CASH AND CASH EQUIVALENTS, beginning of year	6,791	8,758	712,894
CASH AND CASH EQUIVALENTS, end of year	23,107	6,791	8,758
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash and cash equivalents	23,107	6,791	8,758
Restricted cash
CASH AND CASH EQUIVALENTS, end of year	$ 23,107	$ 6,791	$ 8,758