Freight Tech Stock Price, News & Analysis

Freight Technologies (FRGT) has announced its unaudited financial results for the six-month period ending June 30, 2024. The logistics management innovation company, which provides technology-driven solutions for supply chain ecosystem challenges, has made its earnings release available through a Form 8-K filing and on their investor relations website at fr8technologies.com/investors.

Freight Technologies (NASDAQ: FRGT) has announced a change in its independent registered public accounting and auditing firm from Marcum LLP to TAAD LLP, effective January 6, 2025. The transition occurred following Marcum's resignation at the company's request on January 7, 2025. The change was recommended and approved by the Audit Committee of the board of directors.

The company reported no disagreements with Marcum on accounting principles, practices, financial statement disclosure, or auditing procedures during the fiscal year ended December 31, 2024, and through January 7, 2025. Additionally, there were no reportable events during this period.

Freight Technologies (FRGT) has secured a new logistics services contract with a major global toy industry brand. The company's Fr8App platform has been providing over-the-road (OTR) logistics services across key shipment lanes in Mexico, particularly during peak seasonal periods.

The new contract ensures continued secure and timely transport of the client's products throughout the Mexican market, building on Fr8App's track record of reliable, cost-effective, and high-quality service. CEO Javier Selgas highlighted this partnership as a validation of Fr8App's platform innovation and logistics support capabilities in the global marketplace.

Freight Technologies (FRGT) announced the adjournment of its 2024 Annual Meeting of Stockholders from December 12 to Friday, December 13, 2024, at 1pm Monterrey time. The postponement was necessary due to insufficient quorum, with only 44.67% of the company's common stock shares represented at the meeting, either in person, virtually, or by proxy.

The meeting was originally scheduled to consider proposals outlined in the Notice dated October 28, 2024. During the adjournment period, the company and Broadridge Financial Solutions will continue accepting votes from stockholders. Previously submitted proxies remain valid for the adjourned meeting. Shareholders registered as of October 24, 2024, are eligible to participate.

Freight Technologies (FRGT) has been selected by Nestlé Mexico to provide domestic logistics services following an extensive evaluation process. Under a two-year agreement, Fr8App will support Nestlé's logistics operations in Mexico using its freight-matching technology to optimize over-the-road shipments across multiple Mexican lanes.

The selection was based on Fr8App's demonstrated ability to meet critical standards of quality, safety, and efficiency. The company will be responsible for supporting the seamless transportation of Nestlé's products throughout Mexico, marking a significant achievement in Fr8Tech's positioning as a key player in the logistics landscape.

Freight Technologies (FRGT) announced changes in its public filing procedures after determining it no longer qualifies as a 'foreign private issuer' under SEC rules. The company will now file reports as a domestic U.S. company, including Current Reports on Form 8-K, Quarterly Reports on Form 10-Q (starting March 31, 2024), and Annual Reports on Form 10-K (beginning with fiscal year 2024). Additionally, the company will submit proxy statements for shareholder meetings.

Fr8Tech (Nasdaq: FRGT) has achieved ISO 9001:2015 certification for its operations in both Mexico and the United States, covering logistics services and transportation of goods across North America. This certification validates Fr8App's Quality Management System (QMS) and demonstrates its commitment to service excellence and continuous improvement.

ISO 9001:2015 is a globally recognized standard for quality management systems, with over one million certifications worldwide. The certification process involved rigorous evaluation of Fr8Tech's processes, documentation, and operational efficiency. This achievement strengthens the company's position in delivering efficient, reliable, and innovative logistics solutions while ensuring consistent service quality for stakeholders.

Freight Technologies (Nasdaq: FRGT) reports early success for its digital ocean freight platform, Waavely, launched in July 2024. The platform has secured four active customers since its launch, showing promising early adoption. The company is focusing on growing volume with existing clients while adding new customers. Fr8Tech is actively evolving Waavely's capabilities based on customer feedback and working to expand its network of ocean carriers, logistics providers, and shippers to meet industry demands. The platform aims to provide greater control, agility, and transparency in ocean freight logistics.

Freight Technologies (Nasdaq: FRGT) has announced a 1-for-25 reverse stock split of its ordinary shares, effective September 25, 2024. This move will reduce the number of outstanding shares from 35,844,999 to 1,433,800. The company's shares will continue trading on Nasdaq under the symbol 'FRGT' but with a new CUSIP number.

The reverse split aims to increase the per-share trading price to meet Nasdaq's $1.00 minimum bid price requirement for continued listing. Shareholders will receive one new share for every 25 pre-split shares, with fractional shares rounded up or cancelled based on specific criteria. The total number of authorized shares remains unchanged.