Hudson Capital to Change Name to Freight Technologies, Inc. and Ticker to FRGT
May 26 2022 - 9:15AM
Hudson Capital Inc. (NASDAQ: HUSN) will change its name to Freight
Technologies, Inc. (Fr8Tech), its Nasdaq Capital Market exchange
ticker symbol to FRGT, and its CUSIP to G51413105, effective May
27, 2022. The company will continue to do business under the wholly
owned subsidiary’s commercial name Freight App, Inc. (Fr8App).
Javier Selgas, CEO of Fr8Tech, said, “As a hi-tech
transportation logistics company 100% in North America, our new
Freight Technologies moniker aptly creates a cohesive umbrella for
all of our solutions. In 2022, we are gaining traction as evidenced
by our record monthly sales in April, and our positive trend in
loads carried this year. We are executing our growth strategy and
look forward to delivering in 2022 and beyond.”
Fr8Tech Solutions SuiteThe Fr8Tech platform
leverages technology and artificial intelligence to provide its
cloud-based solutions suite to automate the over the road
transportation process, reducing human touch points and load
booking time to minutes or instantaneously.
- Fr8app is a B2B Marketplace powered by AI and
Machine Learning that provides a real time broker portal for
shippers to post loads for fulfillment by qualified carriers as
well as for qualified carriers to find shipments fitting certain
profiles, digitizing and automating all the process.
- Fr8Radar provides shippers and carriers
track-and-trace visibility in real time and all in one screen,
providing locations via Fr8App’s mobile solution or through the
integrations with other third-party GPS providers.
- Fr8TMS provides a transportation management
system used by shippers as a key logistics tool, to manage their
freight and all the documents involved in the transaction such as
invoices, customs documents, confirmation rates, proof of
deliveries, etc....
- Fr8FMS provides a fleet management system used
by transportation companies and owner operators to manage their own
fleet and help reduce their operational costs and provide a better
service for their customers.
- Fr8Data provides real-time dashboards and
reports to shippers and carriers with detailed information,
increasing their visibility and control and enabling them to make
better business decisions.
- Fr8Fleet provides private fleet management
enabling large corporate shippers to purchase dedicated capacity
secured by Fr8App’s customer service group to fulfill the shippers’
freight needs over a given period of time for a period of time, say
a month, in exchange for a fixed fee. This is particularly helpful
for shippers with less than truckload amounts or variable freight
requirements.
About Freight Technologies Inc. Freight
Technologies (Fr8Tech, Nasdaq: FRGT) is a North American
transportation logistics technology platform company focused on
US-Mexico-Canada cross-border shipping. Its wholly owned subsidiary
Freight App, Inc. (Fr8App) focuses on truckload freight, making
shipping simple, transparent, and efficient. Fr8App uses its
proprietary technology platform to connect carriers and shippers
and significantly improve matching and operation efficiency via
innovative technologies such as live pricing and real-time
tracking, digital freight marketplace, broker, transportation
management, fleet management, and committed capacity solutions. The
company is headquartered in Houston, Texas. For more information,
please visit fr8technologies.com
Forward Looking Statements This press release
includes “forward-looking statements” within the meaning of the
“safe harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Freight Technologies' and Fr8App’s
actual results may differ from their expectations, estimates, and
projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, Freight
Technologies’ and Fr8App’s expectations with respect to future
performance and anticipated financial impacts of the
acquisition.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside Freight Technologies’ and
Fr8App’s control and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
impact of COVID-19 pandemic on Fr8App’s business; (2) the inability
to obtain or maintain the listing of Freight Technologies’ ordinary
shares on Nasdaq; (3) the ability to recognize the anticipated
benefits of the merger, which may be affected by, among other
things, competition, the ability of Fr8App to grow and manage
growth profitably, and retain its key employees; (4) costs related
to the merger; (5) changes in applicable laws or regulations; (6)
the possibility that Freight Technologies or Fr8App may be
adversely affected by other economic, business, and/or competitive
factors; (7) risks relating to the uncertainty of the projected
financial information with respect to Fr8App; (8) risks related to
the organic and inorganic growth of Fr8App’s business and the
timing of expected business milestones; and (9) other risks and
uncertainties identified, including those under “Risk Factors”, to
be filed by in Freight Technologies' other filings with the SEC.
Freight Technologies cautions that the foregoing list of factors is
not exclusive. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated or
anticipated by such forward-looking statements. Freight
Technologies and Fr8App caution readers not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. Freight Technologies and Fr8App do not undertake or
accept any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements to reflect
any change in their expectations or any change in events,
conditions, or circumstances on which any such statement is
based.
Fr8Tech Contact:Kirsten Chapman, LHA Investor
Relations, fr8tech@lhai.com, 415.433.3777
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