2023 Q4 Form 20-F Financial Statement

#000149315224018375 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $9.442M $17.06M $25.89M
YoY Change -21.71% -34.1%
Cost Of Revenue $8.773M $15.71M $23.63M
YoY Change -16.82% -33.5%
Gross Profit $669.0K $1.351M $2.263M
YoY Change -55.8% -40.3%
Gross Profit Margin 7.09% 7.92% 8.74%
Selling, General & Admin $5.243M $3.244M $4.118M
YoY Change 7.22% -21.23% 65.03%
% of Gross Profit 783.71% 240.12% 181.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $213.0K $404.6K $243.3K
YoY Change 92.38% 66.27% 7504.19%
% of Gross Profit 31.84% 29.95% 10.75%
Operating Expenses $5.455M $3.244M $4.118M
YoY Change 9.08% -21.23% 65.03%
Operating Profit -$4.786M -$8.261M -$7.062M
YoY Change 37.24% 16.99% 183.0%
Interest Expense $252.0K $807.9K $907.0K
YoY Change -207.72% -10.92% 119243.82%
% of Operating Profit
Other Income/Expense, Net -$499.0K -$498.9K -$128.1K
YoY Change 289.69% 289.63% -136.69%
Pretax Income -$5.033M -$9.223M -$8.097M
YoY Change 30.75% 13.91% 277.37%
Income Tax $72.00K $104.9K $90.51K
% Of Pretax Income
Net Earnings -$5.105M -$9.328M -$8.187M
YoY Change 30.59% 13.93% 281.59%
Net Earnings / Revenue -54.07% -54.67% -31.62%
Basic Earnings Per Share -$7.79 -$2.10
Diluted Earnings Per Share -$2.95 -$7.79 -$2.10
COMMON SHARES
Basic Shares Outstanding 21.92M shares 1.197M shares 3.906M shares
Diluted Shares Outstanding 1.197M shares 390.6K shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.560M $1.560M $1.013M
YoY Change 54.0% 54.0% 357.73%
Cash & Equivalents $1.600M $1.560M $1.013M
Short-Term Investments
Other Short-Term Assets $1.884M $1.884M $1.572M
YoY Change 19.86% 19.86% 5651.37%
Inventory
Prepaid Expenses
Receivables $5.360M $5.360M $4.983M
Other Receivables $962.0K $962.0K $1.891M
Total Short-Term Assets $9.766M $9.766M $9.459M
YoY Change 3.25% 3.25% 243.41%
LONG-TERM ASSETS
Property, Plant & Equipment $46.55K $47.00K $27.61K
YoY Change 68.62% 70.23% 149.41%
Goodwill
YoY Change
Intangibles $6.359K
YoY Change -11.34%
Long-Term Investments $8.000K $8.000K $18.17K
YoY Change -55.97% -55.97%
Other Assets $80.67K $81.00K $154.1K
YoY Change -47.64% -47.42%
Total Long-Term Assets $912.5K $913.0K $956.9K
YoY Change -4.63% -4.58% 8535.92%
TOTAL ASSETS
Total Short-Term Assets $9.766M $9.766M $9.459M
Total Long-Term Assets $912.5K $913.0K $956.9K
Total Assets $10.68M $10.68M $10.42M
YoY Change 2.53% 2.53% 276.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.876M $1.876M $1.981M
YoY Change -5.3% -5.28%
Accrued Expenses $2.881M $2.881M $1.795M
YoY Change 60.53% 60.54%
Deferred Revenue
YoY Change
Short-Term Debt $2.820M $2.820M $3.347M
YoY Change -15.77% -15.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.810M $7.810M $7.284M
YoY Change 7.21% 7.22% 5853.53%
LONG-TERM LIABILITIES
Long-Term Debt $242.0K $242.0K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $242.0K $242.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.810M $7.810M $7.284M
Total Long-Term Liabilities $242.0K $242.0K $0.00
Total Liabilities $8.052M $8.052M $7.284M
YoY Change 10.54% 10.54% 5853.53%
SHAREHOLDERS EQUITY
Retained Earnings -$39.30M
YoY Change 31.0%
Common Stock $2.411M
YoY Change 1230.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.600M $2.627M $3.131M
YoY Change
Total Liabilities & Shareholders Equity $10.68M $10.68M $10.42M
YoY Change 2.53% 2.53% 276.63%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$5.105M -$9.328M -$8.187M
YoY Change 30.59% 13.93% 281.59%
Depreciation, Depletion And Amortization $213.0K $404.6K $243.3K
YoY Change 92.38% 66.27% 7504.19%
Cash From Operating Activities -$5.791M -$8.470M
YoY Change -31.63% 74.47%
INVESTING ACTIVITIES
Capital Expenditures $34.72K $16.91K
YoY Change 105.31% -414.95%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$363.4K -$380.6K
YoY Change -4.52% -83.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $2.356M
YoY Change -100.0% -34.54%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $6.801M $6.572M
YoY Change 3.47% 82.59%
NET CHANGE
Cash From Operating Activities -$5.791M -$8.470M
Cash From Investing Activities -$363.4K -$380.6K
Cash From Financing Activities $6.801M $6.572M
Net Change In Cash $646.7K -$2.278M
YoY Change -128.39% -36.91%
FREE CASH FLOW
Cash From Operating Activities -$5.791M -$8.470M
Capital Expenditures $34.72K $16.91K
Free Cash Flow -$5.825M -$8.487M
YoY Change -31.36% 75.01%

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CY2022Q4 us-gaap Stockholders Equity
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CY2023 FRGT Cost Of Revenue Exclusive Of Depreciation And Amortization
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CostOfRevenueExclusiveOfDepreciationAndAmortization
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CY2021 us-gaap Depreciation And Amortization
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 FRGT Issuance Of Series B Preferred Shares Related To Pipe Investment
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CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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CY2022 us-gaap Stock Issued During Period Value New Issues
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CY2022 FRGT Issuance Of Ordinary Shares For Cash Net Of Issuance Costs
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CY2022 us-gaap Stock Issued During Period Value Issued For Services
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CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
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StockholdersEquity
3131463 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
3131463 usd
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CY2023 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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CY2023 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2022 FRGT Amortization Of Debt Issuance Costs And Debt Discount
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CY2021 FRGT Amortization Of Debt Issuance Costs And Debt Discount
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CY2023 us-gaap Share Based Compensation
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ShareBasedCompensation
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CY2023 us-gaap Paid In Kind Interest
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CY2021 us-gaap Paid In Kind Interest
PaidInKindInterest
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CY2021 FRGT Loss On Initial Issuance Of Private Warrants
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CY2022 us-gaap Fair Value Adjustment Of Warrants
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CY2021 us-gaap Fair Value Adjustment Of Warrants
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CY2023 FRGT Change In Fair Market Value Of Convertible Note
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CY2023 us-gaap Induced Conversion Of Convertible Debt Expense
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CY2022 us-gaap Issuance Of Stock And Warrants For Services Or Claims
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CY2023 us-gaap Increase Decrease In Accounts Receivable
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IncreaseDecreaseInUnbilledReceivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable Related Parties
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CY2022 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
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CY2021 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
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CY2023 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
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CY2022 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
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CY2023 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2023 us-gaap Increase Decrease In Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accrued Liabilities
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Payments To Develop Software
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CY2022 us-gaap Payments To Develop Software
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CY2021 us-gaap Payments To Develop Software
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Convertible Debt
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7675000 usd
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CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2100 usd
CY2021 us-gaap Proceeds From Warrant Exercises
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CY2022 us-gaap Proceeds From Notes Payable
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400000 usd
CY2021 us-gaap Proceeds From Notes Payable
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2620000 usd
CY2022 us-gaap Repayments Of Notes Payable
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CY2022 FRGT Repayment Of Insurance Financing Payable
RepaymentOfInsuranceFinancingPayable
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CY2021 FRGT Repayment Of Insurance Financing Payable
RepaymentOfInsuranceFinancingPayable
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CY2022 us-gaap Proceeds From Stock Plans
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CY2022 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2022 FRGT Proceeds From Issuance Of Preferred Stock
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CY2022 us-gaap Payments Of Stock Issuance Costs
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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1013000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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1560105 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
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CY2023 us-gaap Interest Paid Net
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 FRGT Conversion Of Convertible Notes To Preferred Stock At Merger
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CY2022 us-gaap Stock Issued1
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CY2023 FRGT Financing Of Insurance Premiums
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CY2022 FRGT Financing Of Insurance Premiums
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409575 usd
CY2021 FRGT Financing Of Insurance Premiums
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27066 usd
CY2021 FRGT Debt Discount In Connection With Note Payable
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30000 usd
CY2022 FRGT Elimination Of Notes Payable From Consolidation Upon Merger
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2450000 usd
CY2022 FRGT Repayment Of Note Payable Through Issuance Of Series A4 Shares
RepaymentOfNotePayableThroughIssuanceOfSeriesA4Shares
200000 usd
CY2022 FRGT Issuance Of Ordinary Shares For Professional Services
IssuanceOfOrdinarySharesForProfessionalServices
270000 usd
CY2023 FRGT Conversion Of Convertible Notes To Preferred Stock
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CY2023 FRGT Conversion Of Convertible Notes To Ordinary Shares
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CY2023 us-gaap Conversion Of Stock Amount Converted1
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CY2022 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
60218 usd
CY2023 FRGT Conversion Of Warrants To Ordinary Shares
ConversionOfWarrantsToOrdinaryShares
60253 usd
CY2022 FRGT Conversion Of Warrants To Ordinary Shares
ConversionOfWarrantsToOrdinaryShares
4825 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1560105 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
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175000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1560105 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
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
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-39300000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
2600000 usd
CY2023Q4 FRGT Working Capital
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2000000.0 usd
CY2023Q4 us-gaap Debt Current
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2800000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1600000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_ztuF3vq77JSe" 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_z2Js4HSs7Sy9">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, accounting for warrants, useful lives of internally developed software and property and equipment, fair value of convertible notes, impairment of long lived assets, 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; 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>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_846_eus-gaap--ConcentrationRiskCreditRisk_ztg1tnoWCqJ8" 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_864_zvFn3sj9GUje">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_90A_eus-gaap--CashFDICInsuredAmount_iI_c20231231_zfExM2guXus9" title="Federal deposit insurance corporation">250,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. Additionally, a portion of the Company’s cash is deposited in non-US accounts. The funds are held with financial institutions that offer deposit insurance and bear specific country and regional risks. The amounts over the insured limits as of December 31, 2023 and 2022 was $<span id="xdx_903_eus-gaap--CashUninsuredAmount_iI_c20231231_zwa5qGwRlwo2" title="Insured limits">1,186,214</span> and $<span id="xdx_90B_eus-gaap--CashUninsuredAmount_iI_c20221231_zRzfRNUg6yIj" title="Insured limits">449,991</span></span>, respectively. No losses have been incurred to date on any deposit balances.</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 assets that potentially subject the Company to concentration of credit risk is accounts receivable and unbilled receivables. At December 31, 2023, one customer accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zsQiyPGLYIcg" title="Concentration risk, percentage">66</span>% of the Company’s accounts receivable. As of 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_zHSPnQDwevI7" title="Concentration risk, percentage">42</span>% </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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_z813k7Vadzak" title="Concentration risk, percentage">16</span>% </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2023, one customer accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerOneMember_znyIZtAmzzZ1" title="Concentration risk, percentage">33</span>% of the Company’s revenues. 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_zIKKhR7je3dg" title="Concentration risk, percentage">17</span>% </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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_zz3gumFyk186" title="Concentration risk, percentage">11</span>% </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of the Company’s revenues, respectively. For the year ended December 31, 2021, one customer accounted for 37% 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>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1186214 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
449991 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
282058 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
171009 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
46726 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
43299 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
421 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17060753 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25888436 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21474151 usd
CY2022Q4 FRGT Accrued Freight Costs
AccruedFreightCosts
947372 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1246687 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
63671 shares
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2450000 usd
CY2023Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
3594249 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
3178850 usd
CY2023Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2823116 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2428995 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
771133 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
749855 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
385488 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
225447 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
285069 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
386591 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
326062 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
58480 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
771133 usd
CY2023Q4 FRGT Accrued Freight Costs
AccruedFreightCosts
1057374 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
134351 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
94323 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
87801 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66716 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
46550 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27607 usd
CY2023 us-gaap Depreciation
Depreciation
19110 usd
CY2022 us-gaap Depreciation
Depreciation
17887 usd
CY2021 us-gaap Depreciation
Depreciation
16130 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
716278 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
416039 usd
CY2023Q4 FRGT Accrued Value Added Tax
AccruedValueAddedTax
641634 usd
CY2022Q4 FRGT Accrued Value Added Tax
AccruedValueAddedTax
386083 usd
CY2023Q4 FRGT Accrued Interest On Convertible Note
AccruedInterestOnConvertibleNote
449146 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1006 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
41554 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15367 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3527 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2880805 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1794575 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0358 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0439 pure
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
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8312 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9232 pure
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
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15812 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
133.59
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
33477 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
179.00
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
5771 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
148.00
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
4364 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
43.36
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
39154 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
180.22
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y1M9D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
37490 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.23
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1383 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
191.88
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
75261 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
99.32
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
17311 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
174.84
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y9M21D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
7002 shares
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
58.80
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
33477 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
108.77
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
5381 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
77.70
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
2563 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
38.00
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
32535 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
102.99
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
37490 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.37
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
424 shares
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
3.42
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
11651 shares
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
98.98
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
57950 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
45.33
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1092820 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
555156 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
171500 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2752366 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
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7675000 usd
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CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
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CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
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CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
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CY2021 us-gaap Revenues
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CY2022Q4 us-gaap Stock Issued During Period Shares New Issues
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21000 shares
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0.10
CY2023Q4 us-gaap Preferred Stock Shares Issued
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164001382 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
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CY2022Q4 FRGT Stock And Warrants Issued During Period Value Common Stock And Warrants
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CY2021Q4 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
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CY2022 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantsInPeriodWeightedAverageExercisePrice
193.92
CY2022 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Converted Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageConvertedPrice
210.03
CY2022 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageExercisePrice
0.10
CY2022Q4 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
233.28
CY2023 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantsInPeriodWeightedAverageExercisePrice
134.96
CY2023 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Converted Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageConvertedPrice
247.88
CY2023Q4 FRGT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
136.66
CY2023 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.
CY2023 us-gaap Defined Contribution Plan Cost Recognized
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31187 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
23758 usd
CY2022Q1 us-gaap Stockholders Equity Reverse Stock Split
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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.
CY2023Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
The Company effected a ten for one reverse stock split on March 24, 2023. All ordinary shares and per ordinary share information in these consolidated financial statements has been retroactively adjusted to reflect this reverse stock split. All classes of preferred shares were not subject to this reverse stock split prior to conversion to ordinary shares.
CY2023 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Series A1-A: 0.015, Series A2: 0.022, Series A4: 0.015, Series B: 0.047, Series Seed: 0.01
CY2023 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 Each Warrant Or Right
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6300 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.10
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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2100 shares
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0.10
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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12600 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.10
CY2022 us-gaap Conversion Of Stock Shares Issued1
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54745 shares
CY2022 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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4387 shares
CY2023 us-gaap Conversion Of Stock Shares Issued1
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1244461 shares
CY2023 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
547758 shares

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