HOUSTON, April 29, 2022 (GLOBE NEWSWIRE) -- 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 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. 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.