Freight Technologies Releases Pro Forma Financial Statements for JAK Solar Acquisition

Rhea-AI Summary

Freight Technologies (Nasdaq: FRGT) released unaudited pro forma condensed combined financial statements related to its acquisition of JAK Solar Loans 1 Limited, completed on December 31, 2025. The pro forma statements cover a balance sheet as of September 30, 2025 and statements of operations for the nine months ended September 30, 2025 and the year ended December 31, 2024.

The pro forma information was prepared under Article 11 of Regulation S-X, presented as if the acquisition occurred on January 1, 2024 for operating results and is unaudited and illustrative. Exhibits are filed on Form 6-K and are available on the SEC website and the company investor relations site. The acquisition expands the company's asset base with residential solar-related financial contracts and is expected to contribute recurring cash flows over time.

Positive

• Acquisition completed on December 31, 2025
• Expanded asset base with residential solar-related financial contracts
• Expected to contribute recurring cash flows over time

Negative

• Pro forma financial statements are unaudited and for illustrative purposes only
• Pro forma results are not indicative of future company performance

Key Figures

Purchase price: $5,500,000 Series C preferred shares: 5,500,000 shares Pro forma revenue: $13,835,787 +5 more

8 metrics

Purchase price $5,500,000 Preliminary JAK Solar consideration via Series C preferred shares

Series C preferred shares 5,500,000 shares Issued as consideration for JAK Solar acquisition

Pro forma revenue $13,835,787 Year ended Dec 31, 2024 combined

Pro forma net loss $5,567,831 Year ended Dec 31, 2024 combined

Pro forma revenue $9,613,703 Nine months ended Sep 30, 2025 combined

Pro forma net loss $4,332,611 Nine months ended Sep 30, 2025 combined

Acquired assets $1,239,846 Preliminary allocation for JAK Solar assets

Goodwill $4,260,154 Preliminary allocation related to JAK Solar acquisition

Market Reality Check

Price: $1.08 Vol: Volume 67,396 is 0.06x th...

low vol

$1.08 Last Close

Volume Volume 67,396 is 0.06x the 20-day average of 1,121,782, indicating very light trading activity. low

Technical Shares trade below the 200-day moving average at 5.23 and sit close to the 52-week low of 1.03 (vs. high 69.80).

Peers on Argus

FRGT fell 3.7% while peers were mixed: MYSZ +0.02%, ULY +0.37%, TGL +2.25%, AUUD...

FRGT fell 3.7% while peers were mixed: MYSZ +0.02%, ULY +0.37%, TGL +2.25%, AUUD -8.21%, QH -8.84%. No clear sector-wide direction, suggesting the move was stock-specific rather than driven by broad industry factors.

Previous Acquisition Reports

2 past events · Latest: Dec 16 (Positive)

Same Type Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Dec 16	JAK Solar acquisition	Positive	+3.3%	Announced purchase of JAK Solar’s residential solar loan portfolio.
Apr 01	Token acquisition deal	Positive	-1.6%	Agreed to acquire $5.2M of FET tokens via securities purchase.

Pattern Detected

Acquisition headlines have produced small, mixed reactions, with one positive and one negative move.

Recent Company History

Recent acquisition-related news for FRGT centered on expanding into adjacent assets. On Dec 16, 2025, the company announced the deal to acquire JAK Solar, which generated a 3.29% gain. Earlier, on Apr 1, 2025, it agreed to acquire $5.2M of FET tokens, prompting a modest -1.64% decline. Today’s pro forma release fits this acquisition theme by detailing how JAK Solar’s assets and results integrate into FRGT’s combined financials.

Historical Comparison

+0.8% avg move · In the past year FRGT had 2 acquisition-tagged releases with an average move of 0.83%. Those announc...

acquisition

+0.8%

Average Historical Move acquisition

In the past year FRGT had 2 acquisition-tagged releases with an average move of 0.83%. Those announcements drove only modest price changes, suggesting investors historically reacted cautiously to similar strategic deals.

Acquisition news progressed from a token purchase in Apr 2025 to the Dec 2025 JAK Solar agreement, and now to pro forma financials showing how the JAK Solar deal affects FRGT’s combined revenue, losses, assets, and goodwill.

Market Pulse Summary

This announcement provides unaudited pro forma financials showing how the JAK Solar acquisition affe...

Analysis

This announcement provides unaudited pro forma financials showing how the JAK Solar acquisition affects FRGT’s combined results, including revenue of $13.8M and net loss of $5.6M for 2024. It follows the December 2025 deal disclosure and details the preliminary allocation between assets and goodwill. Investors can monitor future filings for updates to the purchase price allocation and for evidence that JAK Solar’s residential solar loan portfolio generates the anticipated recurring cash flows.

Key Terms

regulation s-x, form 6-k, goodwill, schedule 13g, +1 more

5 terms

regulation s-x regulatory

"prepared in accordance with Article 11 of Regulation S-X and are presented as if"

A set of U.S. securities rules that prescribes how public companies must prepare, present and have audited their financial statements and related exhibits. It lays out formats, required schedules and minimum disclosure standards so financial reports follow a consistent structure. For investors, this consistency and verification act like a standard recipe and inspection checklist, making financial statements easier to compare, trust and use for valuation decisions.

form 6-k regulatory

"Report of Foreign Private Issuer on Form 6-K furnished to the U.S. Securities"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

goodwill financial

"allocation assigns $1,239,846 to acquired assets and $4,260,154 to goodwill."

Goodwill is the extra value a buyer pays for a company above the measurable worth of its buildings, inventory and other tangible items, reflecting things like brand reputation, customer loyalty and expected future profits. Think of paying more for a café because of its famous name and regulars rather than its furniture alone. It matters to investors because changes in goodwill — for example a write-down if expected benefits don’t materialize — can reduce reported earnings and signal that past acquisitions aren’t delivering as hoped.

schedule 13g regulatory

"received a Schedule 13G from DIP SPV I, L.P., ATW Fund I, L.P."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

vwap financial

"price tied to the lower of a reference price and the lowest seven-day VWAP"

VWAP, or Volume-Weighted Average Price, is a way to find the average price of a stock throughout the trading day, giving more importance to times when more shares are traded. It helps traders see the typical price and decide whether a stock is expensive or cheap compared to its average, similar to finding the average speed during a trip by giving more weight to times when you traveled faster or slower.

AI-generated analysis. Not financial advice.

HOUSTON, March 19, 2026 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company offering a diverse portfolio of technology-driven solutions, today released the unaudited pro forma financial statements related to its acquisition of JAK Solar Loans 1 Limited (“JAK Solar”), which was completed on December 31, 2025.

The unaudited pro forma condensed combined financial information includes a balance sheet as of September 30, 2025 and statements of operations for the nine months ended September 30, 2025 and the year ended December 31, 2024. The pro forma financial statements have been prepared in accordance with Article 11 of Regulation S-X and are presented as if the acquisition had occurred on January 1, 2024 for purposes of the statements of operations and on September 30, 2025 for purposes of the balance sheet.

The pro forma financial information is provided for illustrative purposes only and does not purport to represent what the Company’s financial position or results of operations would have been had the acquisition been completed on the dates indicated, nor is it indicative of future results.

The pro forma financial statements are included as Exhibit 99.2 to the Company’s Report of Foreign Private Issuer on Form 6-K furnished to the U.S. Securities and Exchange Commission on March 19, 2026, and are available on the SEC’s website at www.sec.gov and on the Company’s investor relations website.

As previously announced, the acquisition of JAK Solar expands Freight Technologies’ asset base through a portfolio of residential solar-related financial contracts and is expected to contribute recurring cash flows over time.

About Freight Technologies Inc.

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for seamless OTR B2B cross-border shipping across the USMCA region; Fr8Now, a specialized service for less-than-truckload (LTL) shipping; Fr8Fleet, a dedicated capacity service for enterprise clients in Mexico; Waavely, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide, Fleet Rocket a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operators, and Zayren.ai, an AI based, machine learning pricing-prediction tool and carrier-matching platform designed specifically for cross-border and domestic OTR freight shipments across Mexico and the United States. Together, each product is interconnected within a unified platform to network carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, brokerage support, transportation management, fleet management, and committed capacity solutions. For more information, please visit fr8technologies.com.

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. Fr8Tech’s and Fr8App Inc.’s actual results may differ from their expectations, estimates and projections and, consequently, readers 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 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 Fr8Tech’s and Fr8App Inc.’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to obtain or maintain the listing of Fr8Tech’s ordinary shares on Nasdaq; (2) changes in applicable laws or regulations; (3) the possibility that Fr8Tech or Fr8App Inc. may be adversely affected by other economic, business and/or competitive factors; (4) risks relating to the uncertainty of the projected financial information with respect to Fr8App Inc.; (5) risks related to the organic and inorganic growth of Fr8App Inc.’s business and the timing of expected business milestones; and (6) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Fr8Tech other filings with the Securities Exchange Commission.

Fr8Tech 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. Fr8Tech and Fr8App Inc. caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Fr8Tech and Fr8App Inc. do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

Fr8Tech Contact:

Jason Finkelstein
IGNITION Investor Relations
investors@fr8technologies.com

FAQ

When did Freight Technologies (FRGT) complete the acquisition of JAK Solar?

The acquisition closed on December 31, 2025. According to the company, the transaction is complete and associated pro forma financials were prepared and filed on March 19, 2026.

What pro forma periods does FRGT's filing for the JAK Solar acquisition cover?

Pro forma statements include a balance sheet as of September 30, 2025 and operations for the nine months ended September 30, 2025 and year ended December 31, 2024. According to the company, statements were prepared under Regulation S-X Article 11.

Where can investors find Freight Technologies' pro forma financial statements for the JAK Solar acquisition?

The pro forma statements are filed as Exhibit 99.2 on the company's Form 6-K and posted on the SEC website. According to the company, the documents are also available on its investor relations website.

How did Freight Technologies present the acquisition in its pro forma results?

The company presented operations as if the acquisition occurred on January 1, 2024 and the balance sheet as of September 30, 2025. According to the company, this presentation is for illustrative comparability purposes.

Does the pro forma information for FRGT reflect audited results or guaranteed future performance?

No; the pro forma financials are unaudited and illustrative and do not predict future results. According to the company, the information does not purport to represent what results would have been or will be going forward.