Business Context and Reporting Period
This Form 6-K filing by China Internet Nationwide Financial Services Inc. (not Freight Technologies, Inc.) covers the month of December 2018. The report details the results of the Company's Annual Meeting of Stockholders held on December 21, 2018, in Beijing. A total of 16,642,071 shares were represented at the meeting, constituting a quorum.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance report regarding shareholder voting outcomes and does not contain financial performance data.
Material Changes and Voting Results
The filing reports the final results of five proposals submitted to stockholders:
- Proposal 1 (Director Election): Five nominees (Jianxin Lin, Jinchi Xu, Sheve Li Tay, Hong Huang, Buting Yang) were elected. Each received 16,631,531 votes "For," 8,040 "Against," and 2,500 "Abstain."
- Proposal 2 (Auditor Ratification): Stockholders ratified Marcum Bernstein & Pinchuk LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2018. Votes: 16,634,031 "For," 8,040 "Against," 0 "Abstain."
- Proposal 3 (Incentive Compensation Plan): The 2018 Incentive Compensation Plan was approved. Votes: 16,401,941 "For," 235,750 "Against," 4,380 "Abstain."
- Proposal 4 (Executive Compensation Ratification): Compensation of named executive officers was ratified. Votes: 16,634,971 "For," 7,100 "Against," 0 "Abstain."
- Proposal 5 (Say-on-Pay Frequency): Stockholders voted to hold future advisory votes on executive compensation annually. Votes: 16,626,291 for 1 year, 6,780 for 2 years, 5,000 for 3 years, and 4,000 "Abstain."
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, management outlook, specific risks, contingencies, or unusual items. The document is limited to the procedural results of the Annual Meeting.
Important Facts for Investors to Verify
- Verify the company name discrepancy: The input metadata lists "Freight Technologies, Inc.," but the filing is for "China Internet Nationwide Financial Services Inc."
- Confirm the approval of the 2018 Incentive Compensation Plan, which received a significant number of "Against" votes (235,750) compared to other proposals.
- Review the Proxy Statement filed on December 7, 2018, for detailed context on the director nominees and executive compensation.
- Note that this filing contains no financial performance data for the period.