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Freight Technologies, Inc. (Nasdaq: FRGT) has successfully integrated with newtrul, enhancing access to over 100,000 carriers in the U.S. The partnership aims to optimize logistics and reduce transportation costs through an AI-powered broker portal. Newtrul's platform simplifies load booking for diverse carriers, which is expected to drive growth for Fr8Tech. This strategic integration aligns with the company's mission to streamline supply chain processes, offering shippers and carriers improved efficiency and transparency.
Hudson Capital Inc. (NASDAQ: HUSN) is rebranding to Freight Technologies, Inc. (Fr8Tech) with a new ticker symbol FRGT, effective May 27, 2022. This change reflects the company's focus on hi-tech transportation logistics in North America. CEO Javier Selgas highlighted record monthly sales in April 2022 and a positive trend in loads carried this year. The Fr8Tech platform integrates AI and cloud-based solutions to streamline transportation logistics. The company aims to enhance operational efficiency for shippers and carriers across North America.
Hudson Capital (NASDAQ: HUSN) reported preliminary revenue for Q1 2022 of $5.3 million, a growth of 11% from $4.8 million in Q1 2021. Management reaffirmed its 2022 revenue guidance at approximately $40 million, anticipating over 86% year-over-year growth. The company cites record monthly sales in April and increasing load carries as vital contributors. However, challenges such as driver shortages and high fuel prices negatively impacted margins. CEO Javier Selgas expressed confidence that stabilizing gas prices would enhance margins as the year progresses.
Hudson Capital (NASDAQ: HUSN) has announced its financial results for 2021, included in its Form 20-F filing with the SEC. The company underwent a transformation this year, acquiring Freight App, Inc. in February. This acquisition is expected to bring significant growth opportunities. In March, Hudson Capital also sold non-core assets to simplify operations. CFO Paul Freudenthaler highlighted the filing as critical for registering shares related to the Fr8App merger, anticipated within 60 days. The press release also addresses potential risks and uncertainties affecting future performance.
Hudson Capital (NASDAQ: HUSN) has completed the sale of its subsidiary, Hong Kong Internet Financial Services, to private investors as of March 30, 2022. CEO Javier Selgas stated this divestment aligns with their strategy to focus on their core operations in North America, allowing for long-term growth. The transaction will have minimal financial implications, as only minor legal expenses are anticipated.
Hudson Capital's subsidiary, Freight App, specializes in transportation logistics technology, facilitating efficient shipping across North America.
Hudson Capital (NASDAQ: HUSN) and its subsidiary Fr8App announced the successful launch of their technology solution, Fr8PrivateFleet. This service has attracted new and existing customers, including a major food producer in Mexico. Javier Selgas, CEO of Fr8App, highlighted the platform's efficiency in matching shippers with carrier capacity, enhancing profitability for users. The daily usage of the app by carriers increases user retention and positions Fr8App as a key player in the freight market. This development indicates potential for additional revenue streams for Hudson Capital.
Hudson Capital Inc. (NASDAQ: HUSN) announced a webinar scheduled for February 23, 2022, to discuss the transportation logistics market, particularly the US-Mexico cross-border business. Key executives from its subsidiary, Fr8App, will present their technology platform for carriers and shippers, as well as management's vision for 2022. Fr8App aims to streamline shipping with its proprietary platform, enhancing efficiency through features like live pricing and real-time tracking. Investors can register for the webinar and submit questions via email or during the session.
Hudson Capital Inc. (NASDAQ: HUSN) announced the acquisition of Freight App, Inc. (Fr8App) as a wholly-owned subsidiary, effective February 14, 2022. The transaction led to the appointment of Fr8App’s leadership, including Javier Selgas as CEO and Paul Freudenthaler as CFO, replacing the retiring management team. Fr8App has shown significant revenue growth, reporting a 119% increase in 2020 and a 134% increase in 2021. A webinar is scheduled for February 23, 2022, to discuss future plans and growth opportunities.
Hudson Capital, trading under NASDAQ: HUSN, announced a merger with Transportation logistics platform Fr8App. Fr8App projects a revenue increase of at least 86% in 2022, forecasting no less than $40 million, compared to approximately $21.5 million in 2021. CEO Javier Selgas highlights the successful launch of Fr8PrivateFleet, which is expected to create a steady revenue stream. The company plans to introduce new technology solutions to enhance customer experience. Despite optimistic projections, the announcement contains forward-looking statements that carry significant risks and uncertainties.
Hudson Capital (NASDAQ: HUSN) announced that its merger partner, Fr8App, launched Fr8PrivateFleet, a new technology for committed capacity planning. The platform has secured its inaugural contract with Kimberly Clark de Mexico, boasting 2021 revenues of approximately USD $2.3 billion. Fr8PrivateFleet aims to stabilize revenue for carriers while meeting shippers' needs. CEO Javier Selgas highlighted the potential for increased platform usage and revenue growth in 2022. The merger is expected to enhance Fr8App's market presence and operational efficiency.
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