Business Context and Reporting Period
This Form 6-K is filed by Hudson Capital Inc. (not Freight Technologies, Inc.) for the month of April 2022. The report discloses a material definitive agreement and a Regulation FD disclosure regarding the divestiture of a wholly-owned subsidiary.
Key Financial Metrics
The filing text does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only specific financial figure disclosed is the transaction consideration for the sale of the subsidiary, which was HK$1.
Material Changes
- Divestiture of Subsidiary: On March 30, 2022, the Company entered into a Buy/Sell Note and executed an Instrument of Transfer to sell its wholly-owned Hong Kong subsidiary, Hongkong Internet Financial Services Limited ("HKIFS"), to a private investor.
- Transaction Consideration: The subsidiary was transferred for HK$1.
- Public Disclosure: On April 1, 2022, the Company issued a press release announcing the sale of HKIFS.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors beyond the disclosure of the transaction. The report explicitly states that the information furnished shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be incorporated by reference into other filings.
Investor Verification Checklist
- Verify the full terms of the Buy/Sell Note and Instrument of Transfer filed as Exhibit 10.1.
- Review the press release attached as Exhibit 99.1 for additional context on the sale of HKIFS.
- Confirm the impact of the HKIFS divestiture on the Company's consolidated financial statements in subsequent filings.
- Note the discrepancy between the requested company name (Freight Technologies, Inc.) and the actual registrant (Hudson Capital Inc.).