Hudson Capital Reports Full Year 2021 Results
30 4월 2022 - 5:15AM
Hudson Capital, Inc. (NASDAQ: HUSN) reported full year 2021
financial results for the period ended December 31, 2021. Hudson
Capital filed a Form 20-F with the SEC.
Javier Selgas, CEO of Hudson Capital and Fr8App, said, “2022 has
been a transformational year for us as a public company. In
February, we acquired Freight App, Inc. (Fr8App), a well-run North
American transportation logistics technology platform company with
significant growth opportunities. Following that, at the end of
March, we sold our non-core, non-performing assets thereby
simplifying the business and bringing it renewed focus.
The 20-F SEC filing reports Hudson Capital, Inc.’s audited
financial statements and results of operations for Hudson Capital,
Inc., for the years ended December 31, 2021, 2020 and 2019,
exclusive of Fr8App. Since the merger with Fr8App occurred on
February 15, 2022, only filings following that date will include
Fr8App results.
Paul Freudenthaler, CFO of Hudson Capital and Fr8App, said,
“Completing the Hudson Capital 20-F filing is the foundation to
registering the shares related to the Fr8App merger, which we
anticipate to occur within 60 days following the 20-F filing. We
are excited about the progress we are making and continue improving
our position to drive shareholder value in 2022 and beyond.”
About Hudson Capital, Inc. and Freight App,
Inc.Freight App, Inc. (Fr8App), a North American
transportation logistics technology platform company focused on
US-Mexico cross-border shipping, is a wholly-owned subsidiary of
Hudson Capital, Inc. (NASDAQ: HUSN) headquartered in Houston,
Texas. Fr8App, focusing on truckload freight for domestic and
cross-border markets in Mexico, the US and Canada, makes 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.
Forward Looking StatementsThis 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. Hudson Capital’s 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, Hudson
Capital’s 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 Hudson Capital’s 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 Hudson Capital’s ordinary shares on
Nasdaq; (3) the risk that the acquisition disrupts current plans
and operations as a result of the announcement and consummation of
the merger; (4) 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; (5) costs related to the
merger; (6) changes in applicable laws or regulations; (7) the
possibility that Hudson Capital or Fr8App may be adversely affected
by other economic, business, and/or competitive factors; (8) risks
relating to the uncertainty of the projected financial information
with respect to Fr8App; (9) risks related to the organic and
inorganic growth of Fr8App’s business and the timing of expected
business milestones; and (10) other risks and uncertainties
identified, including those under “Risk Factors”, to be filed by in
Hudson Capital’s other filings with the SEC. Hudson Capital
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. Hudson Capital and Fr8App caution
readers not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. Hudson Capital
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.
Fr8App Contact:Kirsten Chapman, LHA Investor
Relations, fr8app@lhai.com, 415.433.3777
Hudson Capital (NASDAQ:HUSN)
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Hudson Capital (NASDAQ:HUSN)
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