Freight Technologies, Inc. Files 20-F Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Freight Technologies, Inc. (FRGT) has filed its 20-F annual report detailing financial performance and corporate history for the fiscal year ending December 31, 2023.</b>

AI Summary

Freight Technologies, Inc. (FRGT) filed a Foreign Annual Report (20-F) with the SEC on May 9, 2024. Freight Technologies, Inc. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company was formerly known as Hudson Capital Inc. and China Internet Nationwide Financial Services, Inc. The filing includes detailed financial information for the fiscal years 2023, 2022, and 2021. Key financial statement elements such as preferred stock, common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are reported. The company's business address is located at 2001 Timberloch Place, Suite 500, The Woodlands, TX 77380.

Why It Matters

For investors and stakeholders tracking Freight Technologies, Inc., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Freight Technologies' financial position and operational history, crucial for investors to assess the company's stability and future prospects. The report's detailed breakdown of financial data across multiple years allows for trend analysis and comparison, aiding in investment decisions regarding FRGT.

Risk Assessment

Risk Level: medium — Freight Technologies, Inc. shows moderate risk based on this filing. The company has a history of name changes and complex preferred stock structures, indicating potential past financial restructuring or strategic shifts that warrant investor caution.

Analyst Insight

Investors should carefully review the detailed financial statements and risk factors within the 20-F filing to understand the company's financial health and operational risks.

Key Numbers

• 2023-12-31 — Conformed Period of Report (Fiscal year end)
• 2024-05-09 — Filed As Of Date (Date of filing)
• 2023 — Fiscal Year (Primary reporting year)
• 2022 — Fiscal Year (Comparative reporting year)
• 2021 — Fiscal Year (Comparative reporting year)

Key Players & Entities

• Freight Technologies, Inc. (company) — Filer name
• Hudson Capital Inc. (company) — Former company name
• China Internet Nationwide Financial Services, Inc. (company) — Former company name
• The Woodlands, TX (location) — Business and mailing address

FAQ

Industry Context

Freight Technologies operates within the logistics and transportation sector, providing technology solutions for freight management.

Regulatory Implications

As a foreign private issuer, Freight Technologies files annual reports on Form 20-F with the SEC, which are subject to specific disclosure requirements under U.S. securities laws.

What Investors Should Do

1. Analyze the detailed financial statements for revenue, net income, and cash flow for FY 2023.
2. Review the company's business description and risk factors for operational and market challenges.
3. Investigate the historical changes in company names and stock structures for insights into past performance and strategy.

Key Dates

• 2024-05-09: Filing Date — Submission of the annual 20-F report
• 2023-12-31: Fiscal Year End — Period covered by the financial statements

Year-Over-Year Comparison

This filing represents the annual 20-F report, providing a comprehensive update on the company's financial status and operations for the fiscal year 2023 compared to prior years.

Key Financial Figures

• $1.10 — registered Ordinary shares, par value $1.10 per share The NASDAQ Stock Market LLC
• $0.11 — outstanding ordinary shares, par value $0.11 per share, is 21,919,240 as of December
• $ — fers to the legal currency of China; "$," "dollars," "US$" or "U.S. dollars" re

Filing Documents

• form20-f.htm (20-F) — 2777KB
• ex8-1.htm (EX-8.1) — 4KB
• ex10-30.htm (EX-10.30) — 133KB
• ex12-1.htm (EX-12.1) — 12KB
• ex12-2.htm (EX-12.2) — 12KB
• ex13-1.htm (EX-13.1) — 6KB
• ex13-2.htm (EX-13.2) — 6KB
• ex19-1.htm (EX-19.1) — 159KB
• ex97-1.htm (EX-97.1) — 28KB
• aud_001.jpg (GRAPHIC) — 6KB
• image_001.jpg (GRAPHIC) — 6KB
• 0001493152-24-018375.txt (&nbsp;) — 10554KB
• frgt-20231231.xsd (EX-101.SCH) — 68KB
• frgt-20231231_cal.xml (EX-101.CAL) — 83KB
• frgt-20231231_def.xml (EX-101.DEF) — 308KB
• frgt-20231231_lab.xml (EX-101.LAB) — 558KB
• frgt-20231231_pre.xml (EX-101.PRE) — 442KB
• form20-f_htm.xml (XML) — 1475KB

forward-looking statements include, but are not limited to, statements concerning the following

forward-looking statements include, but are not limited to, statements concerning the following: growth strategies: future business development, results of operations and financial condition; any our ability to attract and retain users and customers and generate revenue and profit from our customers; any any future regulatory, judicial and legislative changes in Fr8Tech's industry. You should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur. All forward-looking statements in this annual report on Form 20-F prospectus are current only as of the date on which the statements were made, or in the case of a document incorporated by reference, as of the date of that document. Except as required by law, we do not undertake any obligation to update publicly any forward-looking statements for any reason after the date of this annual report on Form 20-F or to conform these statements to actual results or to changes in expectations. 3 PART I Item 1. Identity of Directors, Senior Management and Advisers Not applicable. Item 2. Offer Statistics and Expected Timetable Not applicable. Item 3. Key Information A. Select Financial Data The following table presents the selected consolidated financial information for our Company. For financial accounting and reporting purposes under U.S. GAAP, the Merger was accounted for as a reverse acquisition and recapitalization, with no goodwill or other intangible assets recorded. Consequently, the consolidated assets, liabilities and results of operations of the Company are the historical financial statements of Fr8App and H

View Full Filing

View this 20-F filing on SEC EDGAR