2022 Q4 Form 20-F Financial Statement

#000149315223013266 Filed on April 21, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $12.06M $25.89M $0.00
YoY Change -100.0%
Cost Of Revenue $10.55M $23.63M $0.00
YoY Change
Gross Profit $1.513M $2.263M $0.00
YoY Change -100.0%
Gross Profit Margin 12.55% 8.74%
Selling, General & Admin $4.890M $4.118M $2.100M
YoY Change 132.9% 65.03% -35.62%
% of Gross Profit 323.11% 181.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $110.7K $243.3K
YoY Change 7504.19%
% of Gross Profit 7.32% 10.75%
Operating Expenses $5.001M $4.118M $2.100M
YoY Change 138.17% 65.03% -35.62%
Operating Profit -$3.487M -$7.062M -$2.100M
YoY Change 66.09% 183.0% -35.62%
Interest Expense -$234.0K $907.0K $750.00
YoY Change -31293.33% 119243.82% -99.59%
% of Operating Profit
Other Income/Expense, Net -$128.1K -$128.1K $345.4K
YoY Change -137.07% -136.69% -3203.23%
Pretax Income -$3.849M -$8.097M -$1.754M
YoY Change 119.52% 277.37% -79.21%
Income Tax $59.98K $90.51K $0.00
% Of Pretax Income
Net Earnings -$3.909M -$8.187M -$1.754M
YoY Change 122.94% 281.59% -79.21%
Net Earnings / Revenue -32.41% -31.62%
Basic Earnings Per Share -$2.10
Diluted Earnings Per Share -$0.56 -$2.10 -$572.5K
COMMON SHARES
Basic Shares Outstanding 16.47M shares 3.906M shares
Diluted Shares Outstanding 390.6K shares

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.013M $1.013M $221.3K
YoY Change 357.73% 357.73% -93.24%
Cash & Equivalents $1.000M $1.013M $221.3K
Short-Term Investments
Other Short-Term Assets $1.572M $1.572M $27.33K
YoY Change 5651.37% 5651.37% 188.6%
Inventory
Prepaid Expenses
Receivables $4.983M $4.983M $0.00
Other Receivables $1.891M $1.891M $2.506M
Total Short-Term Assets $9.459M $9.459M $2.754M
YoY Change 243.41% 243.41% -20.64%
LONG-TERM ASSETS
Property, Plant & Equipment $27.61K $27.61K $11.07K
YoY Change 149.39% 149.41% -89.79%
Goodwill
YoY Change
Intangibles $7.172K $7.985K
YoY Change -10.18%
Long-Term Investments $18.17K $18.17K
YoY Change
Other Assets $154.1K $154.1K $0.00
YoY Change -100.0%
Total Long-Term Assets $956.9K $956.9K $11.08K
YoY Change 8535.94% 8535.92% -90.13%
TOTAL ASSETS
Total Short-Term Assets $9.459M $9.459M $2.754M
Total Long-Term Assets $956.9K $956.9K $11.08K
Total Assets $10.42M $10.42M $2.765M
YoY Change 276.63% 276.63% -22.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.981M $1.981M $2.252M
YoY Change -12.05%
Accrued Expenses $1.795M $1.795M $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $3.347M $3.347M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.284M $7.284M $122.4K
YoY Change 5853.53% 5853.53% -93.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.284M $7.284M $122.4K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $7.284M $7.284M $122.4K
YoY Change 5853.53% 5853.53% -95.86%
SHAREHOLDERS EQUITY
Retained Earnings -$30.00M -$21.80M
YoY Change 37.61%
Common Stock $181.2K $8.658K
YoY Change 1992.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.100M $3.131M $2.643M
YoY Change
Total Liabilities & Shareholders Equity $10.42M $10.42M $2.765M
YoY Change 276.63% 276.63% -22.82%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income -$3.909M -$8.187M -$1.754M
YoY Change 122.94% 281.59% -79.21%
Depreciation, Depletion And Amortization $110.7K $243.3K
YoY Change 7504.19%
Cash From Operating Activities -$8.470M -$8.470M
YoY Change 74.47%
INVESTING ACTIVITIES
Capital Expenditures $16.91K
YoY Change -414.95%
Acquisitions
YoY Change
Other Investing Activities -$380.6K
YoY Change
Cash From Investing Activities -$380.6K -$380.6K
YoY Change -83.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.356M
YoY Change -34.54%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.572M $6.572M
YoY Change 82.59%
NET CHANGE
Cash From Operating Activities -8.470M -$8.470M
Cash From Investing Activities -380.6K -$380.6K
Cash From Financing Activities 6.572M $6.572M
Net Change In Cash -2.278M -$2.278M
YoY Change -36.91%
FREE CASH FLOW
Cash From Operating Activities -$8.470M -$8.470M
Capital Expenditures $16.91K
Free Cash Flow -$8.487M
YoY Change 75.01%

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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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-50540 usd
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021 us-gaap Comprehensive Income Net Of Tax
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CY2020Q4 us-gaap Stockholders Equity
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CY2021 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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CY2021 HUSN Stock Issued During Period Value Exercise Of Warrants
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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-50540 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-8200805 usd
CY2021Q4 us-gaap Stockholders Equity
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022 us-gaap Stock Issued During Period Value Acquisitions
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CY2022 HUSN Issuance Of Series B Preferred Shares Related To Pipe Investment
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3500000 usd
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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2432430 usd
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2022 HUSN Issuance Of Ordinary Shares For Cash Net Of Issuance Costs
IssuanceOfOrdinarySharesForCashNetOfIssuanceCosts
935000 usd
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
483000 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
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189216 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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88881 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-8187182 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
3131463 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
3131463 usd
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NetIncomeLoss
-8187182 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-8200805 usd
CY2022 us-gaap Depreciation Depletion And Amortization
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243334 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
302100 usd
CY2022 HUSN Amortization Of Debt Issuance Costs And Debt Discount
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CY2021 HUSN Amortization Of Debt Issuance Costs And Debt Discount
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CY2022 us-gaap Share Based Compensation
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1004392 usd
CY2021 us-gaap Share Based Compensation
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235404 usd
CY2021 us-gaap Paid In Kind Interest
PaidInKindInterest
313404 usd
CY2021 HUSN Loss On Initial Issuance Of Private Warrants
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2829065 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
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-128051 usd
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
497759 usd
CY2022 us-gaap Issuance Of Stock And Warrants For Services Or Claims
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483000 usd
CY2021 HUSN Gains Losses From Extinguishment Of Debt
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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2006568 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
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1309208 usd
CY2022 HUSN Increase Decrease In Unbilled Receivable
IncreaseDecreaseInUnbilledReceivable
596082 usd
CY2021 HUSN Increase Decrease In Unbilled Receivable
IncreaseDecreaseInUnbilledReceivable
241483 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable Related Parties
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-24010 usd
CY2022 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
684100 usd
CY2021 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
591520 usd
CY2022 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
16936 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-292520 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
526375 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
810823 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
163223 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
70222 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
40264 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8469719 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5929734 usd
CY2022 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
363665 usd
CY2021 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
457874 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16913 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12528 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-380578 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-470402 usd
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
3608842 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2100 usd
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
191457 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
400000 usd
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
2620000 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
400000 usd
CY2022 HUSN Repayment Of Insurance Financing Payable
RepaymentOfInsuranceFinancingPayable
-399633 usd
CY2021 HUSN Repayment Of Insurance Financing Payable
RepaymentOfInsuranceFinancingPayable
-18946 usd
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
189216 usd
CY2022 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
22554467 usd
CY2021 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
19273922 usd
CY2022 us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
24169960 usd
CY2021 us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
19705788 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2356178 usd
CY2022 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
2500000 usd
CY2022 HUSN Proceeds From Issuance Of Preferred Stock
ProceedsFromIssuanceOfPreferredStock
3500000 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3190866 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6572488 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6833219 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2277809 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
433083 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-37184 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-46581 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3327993 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2941491 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1013000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3327993 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
392018 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
263788 usd
CY2022 HUSN Conversion Of Convertible Notes To Preferred Stock At Merger
ConversionOfConvertibleNotesToPreferredStockAtMerger
7878025 usd
CY2022 us-gaap Stock Issued1
StockIssued1
3312093 usd
CY2022 HUSN Financing Of Insurance Premiums
FinancingOfInsurancePremiums
409575 usd
CY2021 HUSN Financing Of Insurance Premiums
FinancingOfInsurancePremiums
27066 usd
CY2021 HUSN Debt Discount In Connection With Note Payable
DebtDiscountInConnectionWithNotePayable
30000 usd
CY2022 HUSN Elimination Of Notes Payable From Consolidation Upon Merger
EliminationOfNotesPayableFromConsolidationUponMerger
2450000 usd
CY2022 HUSN Repayment Of Note Payable Through Issuance Of Series A4 Shares
RepaymentOfNotePayableThroughIssuanceOfSeriesA4Shares
200000 usd
CY2022 HUSN Issuance Of Ordinary Shares For Professional Services
IssuanceOfOrdinarySharesForProfessionalServices
270000 usd
CY2022 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
60218 usd
CY2022 HUSN Conversion Of Warrants To Ordinary Shares
ConversionOfWarrantsToOrdinaryShares
4825 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1013000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3152993 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
175000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1013000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3327993 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-30000000.0 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
3100000 usd
CY2022Q4 HUSN Working Capital
WorkingCapital
2200000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
3300000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1000000.0 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zWO737Xb5se5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zkVGD02ms9u2">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, allowance for credit losses, valuation of share-based compensation and warrants, valuation of the Fr8App’s ordinary shares prior to the Merger, accounting for warrants, useful lives of internally developed software and property and equipment, whether an arrangement is or contains a lease, income tax accruals, the valuation allowance for deferred income taxes, and contingent liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>DECEMBER 31, 2022 AND 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zbSVWGUOjhC7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_z9y0XLyEhUw8">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash accounts with various financial institutions. At times, balances in these accounts may exceed federally insured limits. Accounts at each institution within the United States (“US”) are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_c20221231_zIbhzXg4qX62" title="Federal deposit insurance corporation">250,000</span>. Additionally, a portion of the Company’s cash is deposited in non-US accounts. The funds are held with financial intuition that offer deposit insurance and bear specific country and regional risks. The amounts over the insured limits as of December 31, 2022 and 2021 was $<span id="xdx_904_eus-gaap--CashUninsuredAmount_iI_c20221231_zPkMGdztz6P1" title="Insured limits">449,991</span> and $<span id="xdx_90C_eus-gaap--CashUninsuredAmount_iI_c20211231_zjnDmna173P" title="Insured limits">2,661,919</span>, respectively. No losses have been incurred to date on any deposit balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial instrument that potentially subjects the Company to concentration of credit risk is accounts receivable and unbilled receivables. At December 31, 2022, two customers accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zHZdtvQ3Lohh" title="Concentration risk, percentage">42%</span> and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z1XH7Uqtosh" title="Concentration risk, percentage">16%</span> of the Company’s accounts receivable, respectively. As of December 31, 2021, two customers accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zjjUh1oriWzb" title="Concentration risk, percentage">35%</span> and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z6qSToz1Z3Ra" title="Concentration risk, percentage">15%</span> of the Company’s accounts receivable, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2022, two customers accounted for <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zVdZcHE2vDN7" title="Concentration risk, percentage">17%</span> and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zqesDSWAyEi5" title="Concentration risk, percentage">11%</span> of the Company’s revenues, respectively. For the year ended December 31, 2021, one customer accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomersMember_zt4atxURkF1" title="Concentration risk, percentage">37%</span> of the Company’s revenues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
449991 usd
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2661919 usd
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
88961 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7362 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8345 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7850 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
171009 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
77483 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
43299 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
421 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
636710 shares
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84D_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zNRHsZoBLYtc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_z8OdB3o3he54">Reclassification</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications, not affecting previously reported net loss, have been made to the previously issued consolidated financial statements to conform to the current year presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
3178850 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
2548817 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2428995 usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2203548 usd
CY2022Q4 HUSN Capitalized Computer Software Net Carrying Amount
CapitalizedComputerSoftwareNetCarryingAmount
749855 usd
CY2021Q4 HUSN Capitalized Computer Software Net Carrying Amount
CapitalizedComputerSoftwareNetCarryingAmount
345269 usd
CY2021Q4 HUSN Capitalized Software Inprocess
CapitalizedSoftwareInprocess
245733 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
175000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
749855 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
591002 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
225447 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
285069 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
313975 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
248125 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
187755 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
749855 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
94323 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
107149 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66716 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
53700 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27607 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53449 usd
CY2022 us-gaap Depreciation
Depreciation
17887 usd
CY2021 us-gaap Depreciation
Depreciation
16130 usd
CY2022Q4 HUSN Accrued Freight Costs
AccruedFreightCosts
947372 usd
CY2021Q4 HUSN Accrued Freight Costs
AccruedFreightCosts
603332 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
416039 usd
CY2021Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
289408 usd
CY2022Q4 HUSN Accrued Value Added Tax
AccruedValueAddedTax
386083 usd
CY2021Q4 HUSN Accrued Value Added Tax
AccruedValueAddedTax
30374 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
41554 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
12466 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3527 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3527 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1794575 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
939107 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.00986 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0344 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.00986 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
90290 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.34
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
68346 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
25.21
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
510 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.34
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
158126 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.36
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M29D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
854217 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
334773 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
17.90
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
57714 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.80
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
43642 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.34
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
391543 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.02
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y1M9D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
66193 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.80
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y8M8D
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
38203 shares
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.28
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
68346 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.53
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
510 shares
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
3.28
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
36019 shares
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
5.03
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
70020 shares
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
5.88
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
334773 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.88
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
53808 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
7.77
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
25635 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
3.80
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
325350 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
10.30
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
555156 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
171500 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3418134 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
41401 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2650000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
2203226 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
446774 usd
CY2022 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
515625 usd
CY2021 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
446774 usd
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
9531 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
49110 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
40264 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
90511 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
40264 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90511 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40264 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8096671 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8160541 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90511 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40264 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0112 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0049 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.21 pure
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1700301 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1713714 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-17442 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0012 pure
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-21754 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0027 pure
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-140374 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0173 pure
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
5119 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0006 pure
CY2022 HUSN Income Tax Reconciliation Other Adjustments To Deferred
IncomeTaxReconciliationOtherAdjustmentsToDeferred
1051874 usd
CY2022 HUSN Effective Income Tax Rate Reconciliation Other Adjustments To Deferred
EffectiveIncomeTaxRateReconciliationOtherAdjustmentsToDeferred
-0.1299 pure
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
720407 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.0890 pure
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2295280 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2813 pure
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
166816 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.0206 pure
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-528281 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0647 pure
CY2020Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-10-31
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2021Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2022-10-31
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.0012 pure
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
3614 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.0004 pure
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90511 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0112 pure
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40264 usd
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0049 pure
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
25375000 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
17817000 usd
CY2022 HUSN Net Operating Losses Expiration Description
NetOperatingLossesExpirationDescription
NOLs expire from 2035 to 2042
CY2022Q4 HUSN Net Operating Loss Estimated
NetOperatingLossEstimated
4103000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
65011 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
214397 usd
CY2022Q4 HUSN Deferred Tax Assets Fixed And Intangible Assets
DeferredTaxAssetsFixedAndIntangibleAssets
54219 usd
CY2021Q4 HUSN Deferred Tax Assets Fixed And Intangible Assets
DeferredTaxAssetsFixedAndIntangibleAssets
75900 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
13885 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
16678 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
211142 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
96165 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
5328850 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
4648504 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
189695 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
134112 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5754364 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5033956 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5754364 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5033956 usd
CY2020Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2022Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2023-11-01
CY2022 us-gaap Payments For Rent
PaymentsForRent
118000 usd
CY2021 us-gaap Payments For Rent
PaymentsForRent
110000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
802800 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
660254 usd
CY2022 us-gaap Revenues
Revenues
25888436 usd
CY2021 us-gaap Revenues
Revenues
21474151 usd
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.01
CY2021 HUSN Change In Fair Value Of Warrant Liabilities
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497759 usd
CY2021Q4 us-gaap Warrants And Rights Outstanding Measurement Input
WarrantsAndRightsOutstandingMeasurementInput
0.75 pure
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
250000 usd
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
250000 usd
CY2020Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2027-08-26
CY2022Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
40000 shares
CY2022Q4 HUSN Stock Issued During Period Shares New Issues Upon Exercise
StockIssuedDuringPeriodSharesNewIssuesUponExercise
210000 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2022Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1002100 usd
CY2020Q4 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
0.70
CY2021 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageExercisePrice
0.43
CY2021Q4 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
25.65
CY2022 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantsInPeriodWeightedAverageExercisePrice
19.39
CY2022 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Converted Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageConvertedPrice
21.00
CY2022 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageExercisePrice
0.01
CY2022Q4 HUSN Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
24.42
CY2022 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company has a defined contribution plan covering eligible employees with at least two months of service. The Company fully matches employee contributions up to 3% of total compensation, plus 50% of contributions that exceed that amount up to 5% of total compensation
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
23758 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
29477 usd
CY2022Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
The Board of Directors of Hudson Capital approved a reverse stock split of 2.2:1 of Hudson Capital on January 21, 2022, effective as of February 14, 2022. Hudson Capital’s ordinary shares began trading on a split adjusted basis on February 15, 2022
CY2021Q4 us-gaap Share Price
SharePrice
0.43
CY2021Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
191466 usd
CY2022 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Series A1-A: 0.149, Series A2: 0.223, Series A4: 0.15, Series B: 0.471, Series Seed: 0.1
CY2022 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
0.779 of Company’s Ordinary share will be issued for each Series A Warrant, 0.816 Ordinary share shall be issued for each Series B Warrant, 0.888 Ordinary share shall be issued for each Series C Warrant and 0.826 Ordinary share shall be issued for each Series D Warrant
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
63000 shares
CY2022Q4 us-gaap Share Price
SharePrice
0.01
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
21000 shares
CY2022Q4 us-gaap Share Price
SharePrice
0.01
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
126000 shares
CY2022Q4 us-gaap Share Price
SharePrice
0.01
CY2022Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
547445 shares
CY2022Q4 HUSN Stock Issued During Period Shares New Issues1
StockIssuedDuringPeriodSharesNewIssues1
43873 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
14449669 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7461815 shares

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