Hudson Capital changes its name
HOUSTON, May 26, 2022 (GLOBE NEWSWIRE) — Hudson Capital Inc. (HUSN) will change its name to Freight Technologies, Inc. (Fr8Tech), its Nasdaq Capital Market ticker to FRGT and its CUSIP to G51413105, effective May 27. 2022. The Company will continue to operate under the trade name of wholly owned subsidiary Freight App, Inc. (Fr8App).
Javier Selgas, CEO of Fr8Tech, said, “As a 100% North American high-tech transportation logistics company, our new name Freight Technologies rightly creates a consistent framework for all of our solutions. In 2022, we are ramping up as evidenced by our record monthly sales in April, and our positive evolution in loads transported this year. We are executing on our growth strategy and look forward to delivering in 2022 and beyond. »
Suite of Fr8Tech solutions
The Fr8Tech platform leverages technology and artificial intelligence to deliver its suite of cloud-based solutions to automate the road transport process, reducing human touchpoints and load reservation time minutes or instantly.
- Fr8app is a B2B marketplace powered by AI and machine learning that provides a real-time brokerage portal for shippers to post loads to be fulfilled by qualified carriers, and for qualified carriers to find matching shipments to certain profiles, digitizing and automating the whole process.
- Fr8Radar provides shippers and carriers with real-time, single-screen track and trace visibility, providing locations through Fr8App’s mobile solution or through 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 documents involved in the transaction such as invoices, customs documents, confirmation rates, proof of delivery, etc. …
- Fr8FMS provides a fleet management system used by transportation companies and owner-operators to manage their own fleet and help reduce operating costs and provide better service to 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.
- Fr8Flotte provides private fleet management allowing large corporate shippers to purchase dedicated capacity secured by Fr8App’s customer service group to meet shippers’ freight needs over a period of time for a period of time, say a month, in exchange for a fixed fee. This is especially useful for shippers with less than truckload quantities or varying freight needs.
About Freight Technologies Inc.
Freight Technologies (Fr8Tech, FRGT) is a North American transportation logistics technology platform company focused on cross-border transportation between the United States, Mexico and Canada. Its wholly-owned subsidiary Freight App, Inc. (Fr8App) focuses on truck freight, making shipping simple, transparent and efficient. Fr8App uses its proprietary technology platform to connect carriers and shippers and dramatically improve matching and efficiency of operations through innovative technologies such as live pricing and real-time tracking, digital freight marketplace , Broker, Transport Management, Fleet Management and Committed Capacity Solutions. The company is headquartered in Houston, Texas. For more information, visit fr8technologies.com
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results of Freight Technologies and Fr8App may differ from their expectations, estimates and projections. and, therefore, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “will” , “could”, “should”, “believes”, “predicts”, “potential”, “continues” and similar expressions (or negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, Freight Technologies’ and Fr8App’s expectations regarding future performance and the anticipated financial impacts of the acquisition.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are beyond the control of Freight Technologies and Fr8App and are difficult to predict. Factors that could cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) failure to obtain or maintain the listing of Freight Technologies common stock on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition, Fr8App’s ability to grow and manage growth profitably, and to retain its key employees; (4) merger-related costs; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be affected by other economic, commercial and/or competitive factors; (7) risks related to the uncertainty of projected financial information regarding Fr8App; (8) risks relating to the organic and inorganic growth of Fr8App’s business and the timing of expected commercial milestones; and (9) other identified risks and uncertainties, including those under “Risk Factors,” to be filed by Freight Technologies’ other filings with the SEC. Freight Technologies cautions that the above 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 differ materially from those indicated or anticipated by such forward-looking statements. Freight Technologies and Fr8App caution readers not to place undue reliance on 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 publicly release updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances about which any such statement is based. .
Fr8Tech contact details:
Kirsten Chapman, LHA Investor Relations, [email protected]415.433.3777