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$HUSN: Popping now on Solid Earnings report..... $4 now
FreightHub, Inc. Reports Record Revenue Increased 394% and 294% for the Three- and Six-Month Periods Ended June 30, 2021, Respectively
7:05 AM ET 8/5/21 | GlobeNewswire
FreightHub, Inc. Reports Record Revenue Increased 394% and 294% for the Three- and Six-Month Periods Ended June 30, 2021, Respectively
NEW YORK, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Hudson Capital Inc. (NASDAQ: HUSN) (Hudson Capital) announced that FreightHub, Inc. (Fr8Hub), a North American transportation logistics technology platform company focused on US-Mexico cross-border shipping with which Hudson Capital has signed a definitive Merger Agreement, released financial results for the three- month and six-month periods ended June 30, 2021, in Hudson Capital's amended Registration Statement on Form S-4 filed on August 4, 2021, with the Securities and Exchange Commission.
Javier Selgas, CEO of Fr8Hub, said, "By drawing more companies to Fr8Hub and helping solve their logistics needs and challenges, our innovative technology platform and dynamic sales force are overcoming historic levels of capacity constraints within the North American freight truck distribution chain. We believe the attractiveness of our value proposition is reflected in the revenue increases of 394% for the second quarter and of 294% for the six months ended June 30, 2021, as compared to the prior year periods. This growth is especially encouraging in a very challenging environment. Due to our technology leadership, industry expertise, and growing customer footprint, we believe we are well positioned to continue to capitalize on the long-term opportunities in the cross-border US/Canada, domestic Canada and US markets."
Second quarter of 2021 revenues were approximately $5.9 million, up 394% compared to approximately $1.2 million in the prior year period. Revenues for the six-month period ended June 30, 2021, were approximately $10.7 million, up 294% compared to approximately $2.7 million for the prior year period.
For more information about Fr8Hub's financial results, investors are advised to review the three-month and six-month financial results for the period ended June 30, 2021, included in Hudson Capital's amended Registration Statement on Form S-4 filed on August 4, 2021, with the SEC.
About FreightHub, Inc.
FreightHub, Inc. (Fr8Hub) makes shipping simple, transparent, and efficient. A transportation logistics platform company, Fr8Hub focuses on truckload freight for domestic and cross-border markets in Mexico, the US and Canada. As an innovative digital freight marketplace, broker, transportation management system (TMS) and public API, Fr8Hub uses its proprietary technology platform to connect carriers and shippers that significantly improves matching and operation efficiency via innovative technologies such as live pricing and real-time tracking.
About Hudson Capital Inc.
Incorporated in 2014, Hudson Capital Inc. (formerly known as China Internet Nationwide Financial Services Inc. (NASDAQ: HUSN)) commenced its business by providing financial advisory services to small and medium size companies. The traditional business segments include commercial payment advisory, intermediary bank loan advisory and international corporate financing advisory services which help clients to meet their commercial payment and investment needs. For more information, about Hudson Capital, please see the documents filed by Hudson Capital with the SEC at www.sec.gov.
In connection with the proposed merger, Hudson Capital intends to file relevant materials with the Securities and Exchange Commission (the "SEC"), including a Registration Statement on Form S-4 (the "Form S-4") which was filed with the SEC on November 12, 2020, as amended on December 31, 2020, February 8, 2021, May 18, 2021, June 22, 2021, and August 4, 2021, and includes and serves as a proxy statement/prospectus for Hudson Capital's shareholders and a prospectus for Fr8Hub's stockholders. Promptly after the Form S-4 is declared effective by the SEC, Hudson Capital will mail the definitive proxy statement/prospectus and a proxy card to each shareholder entitled to vote at the special meeting on the merger and the other proposals set forth in the proxy statement. SHAREHOLDERS OF HUDSON CAPITAL ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE MERGER THAT HUDSON CAPITAL WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT HUDSON CAPITAL, FREIGHTHUB AND THE MERGER. The definitive proxy statement/prospectus and other relevant materials in connection with the merger (when they become available), and any other documents filed by Hudson Capital with the SEC, may be obtained free of charge at the SEC's website (www.sec.gov).
Participants in the Solicitation
Hudson Capital and its directors and executive officers may be deemed participants in the solicitation of proxies from Hudson Capital's shareholders with respect to the merger. A list of the names of those directors and executive officers and a description of their interests in Hudson Capital are included in the prospectus/proxy statement for the proposed merger and are available at www.sec.gov. Additional information regarding the interests of such participants will be contained in the prospectus/proxy statement for the proposed merger when available. Information about Hudson Capital's directors and executive officers and their ownership of ordinary shares of Hudson Capital is set forth in Hudson Capital's Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 15, 2020. These documents can be obtained free of charge from the sources indicated above.
Fr8Hub and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Hudson Capital in connection with the proposed merger. A list of the names of such directors and executive officers and information regarding their interests in the proposed merger are included in the prospectus/proxy statement for the proposed merger, and are available at www.sec.gov.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Hudson Capital's and Fr8Hub's actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Hudson Capital's and Fr8Hub's expectations with respect to future performance and anticipated financial impacts of the proposed acquisition, the satisfaction of the closing conditions to the proposed acquisition, and the timing of the completion of the proposed acquisition.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Hudson Capital's and Fr8Hub's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the definitive merger agreement (the "Agreement"); (2) the outcome of any legal proceedings that may be instituted against Hudson Capital or Fr8Hub following the announcement of the Agreement and the transactions contemplated therein; (3) the inability to complete the proposed acquisition, including due to failure to obtain approval of the shareholders of Hudson Capital and stockholders of Fr8Hub, certain regulatory approvals, or satisfy other conditions to closing in the Agreement; (4) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Agreement or could otherwise cause the transaction to fail to close; (5) the impact of COVID-19 pandemic on Fr8Hub's business and/or the ability of the parties to complete the proposed acquisition; (6) the inability to obtain or maintain the listing of Hudson Capital's shares of common stock on Nasdaq following the proposed merger; (7) the risk that the proposed acquisition disrupts current plans and operations as a result of the announcement and consummation of the proposed merger; (8) the ability to recognize the anticipated benefits of the proposed merger, which may be affected by, among other things, competition, the ability of Fr8Hub to grow and manage growth profitably, and retain its key employees; (9) costs related to the proposed merger; (10) changes in applicable laws or regulations; (11) the possibility that Hudson Capital or Fr8Hub may be adversely affected by other economic, business, and/or competitive factors; (12) risks relating to the uncertainty of the projected financial information with respect to Fr8Hub; (13) risks related to the organic and inorganic growth of Fr8Hub's business and the timing of expected business milestones; and (14) other risks and uncertainties indicated from time to time in the prospectus/proxy statement on the Form S-4, relating to the proposed merger, including those under "Risk Factors" therein, to be filed by Hudson Capital and in Hudson Capital's other filings with the SEC. Hudson Capital cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Hudson Capital and Fr8Hub caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Hudson Capital and Fr8Hub do not undertake or accept any obligation or undertaking to release publicly
2021-08-05 11:05:00 GMT FreightHub, Inc. Reports Record Revenue Increased -2-
any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed merger. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Fr8Hub Contact:
Moriah Shilton or Kirsten Chapman, LHA Investor Relations, fr8hub@lhai.com, 415.433.3777
Hudson Capital Contact:
Hon Man Yun, Chief Financial Officer, man@hudsoncapitalusa.com, (852) 98047102
> Dow Jones Newswires
August 05, 2021 07:05 ET (11:05 GMT)
GO $HUSN
good one to collect shares now. it will be in play in 2021
Sounds great to me!
Any news comes out its gonna breakout
transaction is expected to close in the first quarter of 2021.
Merger closing 1st Q 2021 loading up !! transaction is expected to close in the first quarter of 2021.
Husn golden cross ~ Merger w/ fr8hub coming
* * $HUSN Video Chart 10-15-2020 * *
Link to Video - click here to watch the technical chart video
Start to build up ..... nice.
Nice to hit the low $0.70s .... consolidation and a move up to $0.90s would be nice
Ahere is she going
Merger news out today.
Wonder if it can hit $1 or $1.50 or is the float too high for that?
Was hoping for a dip to low $0.70s at least, but could be ready to fly without that consolidation ... considering taking a small position at $0.80 but not really liking it.
yeah, someone seems to be accumulating this week. Expecting an announcement, I wonder going back to NASDAQ?
* * $HUSN Video Chart 10-12-2020 * *
Link to Video - click here to watch the technical chart video
$HUSN Chinese kaka play but should bounce
Running up off of Md,)( Ly) huge run up today.
Amezing dey. $$$$ now for my others tongo
* * $HUSN Video Chart 06-18-2020 * *
Link to Video - click here to watch the technical chart video
damn this is tin up
* * $HUSN Video Chart 05-28-2020 * *
Link to Video - click here to watch the technical chart video
I haven’t looked for any news, just felt it was a matter of time before they ran back over a dollar to keep the NASDAQ listing...
Is there news? Something on web? New info on their website? Has anyone seen a Hudson Capital website?
I’m hanging on, very high possibility of a big run now that financing is done, just my opinion...
https://ih.advfn.com/stock-market/NASDAQ/china-internet-nationwid-CIFS/stock-news/82446751/report-of-foreign-issuer-6-k
Dilution with 2 millions shares at .40; but I'd say that is somewhat minimal. Does not do good things for the stock though; company needs to PR about their plans.
The float for CIFS was said to be 7.5 million shares; OS to be 22 million shares (that was at end of 2018 though; do you know if they have diluted since then? ).
Thoughts?
Form 6-K filing last week...
https://www.sec.gov/Archives/edgar/data/1687542/000149315220007935/form6-k.htm
On April 10, 2020, the board of directors of China Internet Nationwide Financial Services, Inc. (the “Company”) resolved to change the Company’s name to “Hudson Capital Inc.” to re-brand the Company and better reflect the plans for its next phase of growth. The name change was effected with the British Virgin Islands Registrar of Corporate Affairs on April 23, 2020 and its name change and new ticker symbol on the Nasdaq will be changed to HUSN with effect from May 8, 2020.
FYI- I'm trying to restore the info that was in the I-box. Didn't realize they delete it when you become moderator. If anyone finds any new company info, please post it. Thanks! Nealio
Added a few more .54, gonna hold and see what happens...
Look at the long term chart, CIFS traded in double digits over the last 2-3 years and looks like the high was in the 60’s...
Been holding this for a while, grabbed some in the 0.50’s and holding to see what happens...
I started following a week ago. They just posted news of a name change and a new ticker. It will be HUSN tomorrow. Could spur a big move UP!
Is this potential BIG news? This is the first news in a long time from the actual company. Am I wrong about that? To summarize they say they are now called Hudson Capital and that the name change fits better with their future plans. But I only bought this stock a week ago, and just finding info...I put an email into the company listed email address to ask if they have any update. Will report back if I hear anything.
https://ih.advfn.com/stock-market/NASDAQ/china-internet-nationwid-CIFS/stock-news/82407992/report-of-foreign-issuer-6-k
On April 10, 2020, the board of directors of China Internet Nationwide Financial Services, Inc. (the “Company”) resolved to change the Company’s name to “Hudson Capital Inc.” to re-brand the Company and better reflect the plans for its next phase of growth. The name change was effected with the British Virgin Islands Registrar of Corporate Affairs on April 23, 2020 and its name change and new ticker symbol on the Nasdaq will be changed to HUSN with effect from May 8, 2020.
Sorry, I don't have contact or news.
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We conclude that China Internet Financial Services Inc. (NASDAQ:CIFS) is a King Zero – just another worthless China fraud.
The Report made allegations against the Company and below is a summary of the major findings of the investigation generally keyed to those allegations:
1. No material inconsistency between the gross revenue in the Company's books and records and the revenue reported in its SEC reports. Gross revenue in the Company's books and records showed no material inconsistency with the gross revenue reported in its Registration Statement on Form F-1 filed with the Securities and Exchange Commission ("SEC ") on April 17, 2017. It was determined that the Company had underreported its revenue to the PRC's State Administration of Industry & Commerce ("SAIC").
2. Loans were verified. The loans to Beijing Ailirui Trading Co., Ltd, Xiamen Jingsu Trading Co. Ltd, Fujian Jin Xin Import Export Trading Co. Ltd and Cai Long Ge (the "borrowers") were in fact made and were repaid with appropriate interest. The borrowers were not "sham" parties.
3. Transactions with Xiamen Beiruichen Trading Co. Ltd and Xiamen Luye Trading Co. Ltd verified. The transactions with Xiamen Beiruichen Trading Co. Ltd and Xiamen Luye Trading Co. Ltd have been verified and the Company reported the relevant revenue in its SEC filings.
4. Acquisition of Beijing Anytrust Science & Technology Co. Ltd ("Anytrust") was a valid transaction. The Company asked Beijing Tianhuang Tongda Technology Co. Ltd to acquire the "big data" company Anytrust and then, for an additional fee, sell it to the Company because the Company did not want to reveal its identity to the seller of Anytrust for fear that the latter would demand a higher selling price for Anytrust if it knew that it was negotiating with a public company.
5. Kashgar Sheng Yingxin Enterprise Consulting Co., Ltd. ("Kashgar SYX")'s 2016 revenue verified. Although Kashgar SYX was only incorporated on December 29, 2016, its reported revenue was significant because customers of its parent, Sheng Ying Xin (Beijing) Management Consulting Co., Ltd ("SYX") in the latter half of 2016, replaced their contracts entered with SYX with Kashgar SYX once Kashgar SYX was incorporated to benefit from certain preferential tax treatments. The revenue from these customers was then booked under Kashgar SYX.
6. The Company's net profit margin compared. In order to establish whether the Company's 2016 profit margins were plausible, the Special Committee compared the Company's net profit margin to the net profit margin of two PRC financial services companies listed on the NASDAQ – one had higher margin and the other, lower.
7. Wealth products services business was sold. The Company's former wealth products services business, described in the Report as a "P2P business," was sold to a third party approximately 2 years prior to the Company's IPO. Accordingly, the Company did not mislead its investors by not disclosing its prior sold business.
8. Internet Content Provider ("ICP") license and the Company's Variable Interest Entity ("VIE") structure verified. The Company's ICP license has been verified and its use of the VIE structure is consistent with its strategy to pursue a line of business where foreign ownership is restricted by China's Ministry of Commerce.
The Special Committee recognizes that its investigation was tailored to investigate the allegations made in the Report, and was not designed to be the equivalent of an audit conducted by the Company's independent auditors. As a result of its investigation, the Special Committee, on behalf of the Company, has adopted, and the management will in the near future implement, a series of measures intended to improve the Company's operations, compliance and internal controls. These measures include, among other things, enhanced corporate policies and practices governing the management of acquisitions and requiring the reconciliation of reports filed with the SAIC and reports filed with the SEC.
An interesting note is that, effective 02-27-2019, the Short Interst in CIFS is only 1.7% - less than 2%.
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