Freight (FRGT) 20-F21 Apr 232022 FY Annual report (foreign)Financial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Dec. 31, 2022 shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-38172
Entity Registrant Name	FREIGHT TECHNOLOGIES INC.
Entity Central Index Key	0001687542
Entity Incorporation, State or Country Code	D8
Entity Address, Address Line One	2001 Timberloch Place
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
Title of 12(b) Security	Ordinary shares, par value $0.11 per share
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	16,468,823
ICFR Auditor Attestation Flag	false
Auditor Name	UHY LLP
Auditor Location	Melville, New York
Auditor Firm ID	1195
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	2001 Timberloch Place
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	(773)
Local Phone Number	905-5076
Contact Personnel Name	Mr. Javier Selgas
Contact Personnel Email Address	javi.selgas@fr8hub.com

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,013,000	$ 3,152,993
Restricted cash in escrow		175,000
Accounts receivable, net	4,982,873	2,893,619
Unbilled receivables	1,891,023	1,252,469
Prepaid expenses and other current assets	1,571,853	1,047,219
Total current assets	9,458,749	8,521,300
Capitalized software, net	749,855	591,002
Property and equipment, net	27,607	53,449
Other long-term assets	154,062	107,106
Security deposits	18,166	7,818
Intangible assets, net	7,172	7,985
Total assets	10,415,611	9,288,660
Current liabilities:
Accounts payable	1,980,619	2,252,089
Accrued expenses	1,794,575	939,107
Short-term borrowings	3,347,374	1,731,881
Notes payable, net		446,774
Convertible notes payable, net		7,857,579
Warrant liabilities		4,951,306
Income tax payable	143,518	73,296
Insurance financing payable	18,062	8,120
Total current liabilities	7,284,148	18,260,152
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY (DEFICIT)
Ordinary shares, $0.11 par value, unlimited shares authorized; 1,646,883 and 78,706 shares issued and outstanding at December 31, 2022 and 2021, respectively	181,157	8,658
Additional paid-in capital	32,897,836	12,869,778
Accumulated deficit	(29,987,945)	(21,800,763)
Accumulated other comprehensive income (loss)	38,971	(49,910)
Total stockholders’ equity (deficit)	3,131,463	(8,971,492)
Total liabilities and stockholders’ equity (deficit)	10,415,611	9,288,660
Series A Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, value	693	745
Series B Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, value	751
Series Seed Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Preferred stock, shares issued	14,449,669	7,461,815
Ordinary shares, par value	$ 0.11	$ 0.11
Ordinary shares, shares authorized unlimited	Unlimited	Unlimited
Ordinary shares, shares issued	1,646,883	78,706
Ordinary shares, shares outstanding	1,646,883	78,706
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	30,500,000	30,500,000
Preferred stock, shares issued	6,934,828	7,454,795
Preferred stock, shares outstanding	6,934,828	7,454,795
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	21,000,000	21,000,000
Preferred stock, shares issued	7,507,845	0
Preferred stock, shares outstanding	7,507,845	0
Series Seed Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000	25,000
Preferred stock, shares issued	7,020	7,020
Preferred stock, shares outstanding	7,020	7,020

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 25,888,436	$ 21,474,151
Cost and expenses
Cost of revenue (exclusive of depreciation and amortization shown separately below)	23,625,317	19,558,807
Compensation and employee benefits	4,963,306	3,712,325
General and administrative	3,560,615	2,618,126
Sales and marketing	557,471	91,657
Depreciation and amortization	243,334	302,100
Total cost and expenses	32,950,043	26,283,015
Operating loss	(7,061,607)	(4,808,864)
Other expenses
Interest expense, net	(907,013)	(1,136,096)
Gain from extinguishment of debt		115,725
Loss on initial issuance of private warrants		(2,829,065)
Change in fair value of warrant liabilities	(128,051)	497,759
Loss before provision for income taxes	(8,096,671)	(8,160,541)
Income tax expense	90,511	40,264
Net loss	$ (8,187,182)	$ (8,200,805)
Net loss per share attributable to ordinary shareholders, basic and diluted	$ (2.10)	$ (10.53)
Weighted average number of ordinary shares	3,905,629	778,442
Other comprehensive gain (loss) net of tax
Foreign currency translation	$ 88,881	$ (50,540)
Comprehensive loss	$ (8,098,301)	$ (8,251,345)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)

Preferred Stock [Member] Series A Preferred Stock [Member]

Preferred Stock [Member] Series B Preferred Stock [Member]

Preferred Stock [Member] Series Seed Preferred Stock [Member]

Ordinary Shares [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

AOCI Attributable to Parent [Member]

Total

Balance, value at Dec. 31, 2020

$ 701

[1]

$ 8,151

[1]

$ 12,443,460

$ (13,599,958)

$ 630

$ (1,147,016)

Balance, shares at Dec. 31, 2020

[1]

7,013,190

7,020

74,094

[2]

Issuance of ordinary shares upon vesting of restricted stock awards

[1]

$ 507

[1]

(507)

Issuance of ordinary shares upon vesting of restricted stock awards, shares

[1],[2]

4,612

Share-based compensation

[1]

235,404

Issuance of Series A2 preferred stock in connection with exercise of warrants

$ 44

[1]

191,421

191,465

Issuance of Series A2 preferred stock in connection with exercise of warrants, shares

[1]

441,605

Foreign currency translation adjustment

[1]

(50,540)

Net loss

[1]

(8,200,805)

$ (8,200,805)

Issuance of ordinary shares for exercise of stock options,shares

Balance, value at Dec. 31, 2021

$ 745

[1]

$ 8,658

[1]

12,869,778

(21,800,763)

(49,910)

$ (8,971,492)

Balance, shares at Dec. 31, 2021

[1]

7,454,795

7,020

78,706

[2]

Issuance of ordinary shares upon vesting of restricted stock awards

[1]

$ 2,863

[1]

(2,863)

Issuance of ordinary shares upon vesting of restricted stock awards, shares

[1],[2]

26,031

Share-based compensation

[1]

1,004,392

Foreign currency translation adjustment

[1]

88,881

Net loss

[1]

(8,187,182)

Issuance of stock in connection with Merger, net of cost

$ (115)

[1]

$ 739

[1]

$ 69,867

[1]

11,584,627

11,655,118

Issuance of stock in connection with merger net of cost, shares

[1]

(1,147,957)

7,389,851

635,155

[2]

Issuance of Series B preferred shares related to PIPE investment

[1]

$ 106

[1]

3,499,894

3,500,000

Issuance of series B preferred shares related to PIPE investment, shares

[1]

1,060,606

Issuance of Series A4 preferred shares for cash and note conversion, net of costs

$ 129

[1]

2,432,301

2,432,430

Issuance of Series A4 preferred shares for cash and note conversion, net of costs, shares

[1]

1,285,714

Issuance of ordinary shares from conversion of preferred stock

$ (66)

[1]

$ (94)

[1]

$ 60,219

[1]

(60,059)

Issuance of ordinary shares from conversion of preferred stock, shares

[1]

(657,724)

(942,612)

547,445

[2]

Issuance of ordinary shares from conversion and exercise of warrants

[1]

$ 27,926

[1]

(25,826)

2,100

Issuance of ordinary shares from conversion and exercise of warrants, shares

[1],[2]

253,873

Issuance of ordinary shares for cash, net of issuance costs

[1]

$ 4,400

[1]

930,600

935,000

Issuance of ordinary shares for cash, net of issuance costs, shares

[1],[2]

40,000

Issuance of restricted stock in exchange for professional services

[1]

$ 2,423

[1]

480,577

483,000

Issuance of restricted stock in exchange for professional services, shares

[1],[2]

22,031

Issuance of ordinary shares for exercise of stock options

[1]

$ 4,801

[1]

184,415

$ 189,216

Issuance of ordinary shares for exercise of stock options,shares

43,642

[1],[2]

43,642

Balance, value at Dec. 31, 2022

$ 693

[1]

$ 751

[1]

$ 181,157

[1]

$ 32,897,836

$ (29,987,945)

$ 38,971

$ 3,131,463

Balance, shares at Dec. 31, 2022

[1]

6,934,828

7,507,845

7,020

1,646,883

[2]

[1]Reflects reverse
split of 2.2:1 as approved by the Board of Directors of Hudson Capital on January 21, 2022, effective as of February 14, 2022. Hudson
Capital’s ordinary shares began trading on a split adjusted basis on February 15, 2022.[2]Reflects reverse split of
10:1 as approved by the Board of Directors of Freight Technologies, Inc on March 3, 2023, effective as of March 24,
2023.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (8,187,182)	$ (8,200,805)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	243,334	302,100
Amortization of debt issuance costs and debt discount	539,975	592,874
Share-based compensation	1,004,392	235,404
Non-cash interest		313,404
Loss on initial issuance of private warrants		2,829,065
Change in fair market value of warrant liabilities	128,051	(497,759)
Shares issued to vendors in exchange for services	483,000
Gain from extinguishment of debt		(115,678)
Changes in operating assets and liabilities:
Accounts receivable	(2,006,568)	(1,309,208)
Unbilled receivables	(596,082)	(241,483)
Account receivable – related party		24,010
Prepaid expense and other assets	(684,100)	(591,520)
Security deposits	16,936
Accounts payable	(292,520)	526,375
Accrued expenses	810,823	163,223
Income tax payable	70,222	40,264
Net cash used in operating activities	(8,469,719)	(5,929,734)
Cash flows from investing activities:
Capitalization of software development costs	(363,665)	(457,874)
Purchase of property and equipment	(16,913)	(12,528)
Net cash used in investing activities	(380,578)	(470,402)
Cash flows from financing activities:
Proceeds from convertible notes		3,608,842
Proceeds from warrant exercises	2,100	191,457
Proceeds from notes payable, net of discounts	400,000	2,620,000
Repayment of note payable	(400,000)
Repayment of insurance financing payable	(399,633)	(18,946)
Proceeds from stock option exercises	189,216
Repayment of short-term borrowings	(22,554,467)	(19,273,922)
Proceeds from short-term borrowings	24,169,960	19,705,788
Proceeds from issuance of ordinary shares	2,356,178
Proceeds from issuance of series A4 preferred stock	2,500,000
Proceeds from issuance of series preferred B	3,500,000
Payment for issuance costs	(3,190,866)
Net cash provided by financing activities	6,572,488	6,833,219
Net (decrease) increase in cash and cash equivalents	(2,277,809)	433,083
Effect of exchange rate changes on cash and cash equivalents	(37,184)	(46,581)
Cash, cash equivalents and restricted cash at beginning of the period	3,327,993	2,941,491
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	1,013,000	3,327,993
Supplemental disclosure of cash flow information
Cash paid for interest	392,018	263,788
Supplemental disclosure of non-cash activity
Conversion of convertible notes to preferred stock at the Merger	7,878,025
Issuance of preferred stock from exercise of warrants	3,312,093
Financing of insurance premiums	409,575	27,066
Debt discount in connection with note payable		30,000
Elimination of notes payable from consolidation upon Merger	2,450,000
Repayment of note payable through the issuance of series A4 shares	200,000
Issuance of ordinary shares for professional services	270,000
Conversion of preferred stock to ordinary shares	60,218
Conversion of warrants to ordinary shares	4,825
Reconciliation of cash, cash equivalents, and restricted cash reported in the consolidated balance sheet
Cash and cash equivalents	1,013,000	3,152,993
Restricted cash in escrow		$ 175,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Description of Business Freight App, Inc. (“Fr8App”) (formerly known as “Freighthub, Inc.”), a Delaware corporation, was incorporated on October 26, 2015. On January 18, 2019, Freight App Mexico S.A De C.V. (“Fr8App Mexico”) (formerly known as “Freight Hub Mexico S.A. De C.V.”), a wholly owned subsidiary of Fr8App, was formed. On July 29, 2021, Fr8App and Fr8App Mexico filed their name change. Fr8App, along with its wholly owned subsidiary, Fr8App Mexico. Fr8App provides an industry-leading freight-matching platform powered by AI and machine-learning and offers a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region. Merger with Hudson Capital On October 10, 2020, Fr8App entered into an agreement and plan of merger with Hudson Capital, Inc. (“Hudson Capital”), as amended on May 18, 2021. On December 13, 2021, the October 10, 2020 agreement and plan of merger was terminated and Fr8App entered into a new merger agreement (“Merger”) with Hudson and ATW Master Fund II, L.P., as the representative of the stockholders of Fr8App (the “Stockholders’ Representative”) by which Hudson Capital acquire all the issued and outstanding securities of the Fr8App and assume Fr8App as its direct, wholly–owned subsidiary. The Merger closed on February 14, 2022 and a Certificate of Merger was filed with the Secretary of State for the State of Delaware, in accordance with the relevant provisions of Delaware Law. Following the Merger, Hudson Capital continued as a British Virgin Islands (“BVI”) business company and on May 26, 2022 changed its name to Freight Technologies Inc. (“Fr8Tech”), and its ticker symbol to “FRGT”. Fr8App continues as a corporation incorporated in the State of Delaware. See Note 4 for further details on Merger. Freight App, Inc., as related to activities in periods prior to the Merger is hereinafter referred to as Fr8App, and Fr8Tech, along with its wholly owned subsidiaries, are hereinafter referred to as the “Company”. For financial accounting and reporting purposes under generally accepted accounting principles in the United States (“GAAP”), the Merger was accounted for as a reverse acquisition and recapitalization, with no goodwill or other intangible assets recorded. Under this method of accounting, Hudson Capital (legal acquirer) is treated as the acquired entity and Fr8App (legal acquiree) is deemed to have issued stock for the net assets and equity of Hudson Capital, consisting of mainly cash, accompanied simultaneously by recapitalization. The net assets of Hudson Capital are stated at historical cost, and accordingly the equity and net assets of Fr8App have not been adjusted to fair value. Consequently, the consolidated assets, liabilities and results of operations of the Company are the historical financial statements of Fr8App and Hudson Capital’s assets, liabilities and results of operations are consolidated with the assets, liabilities and results of operations of Fr8App beginning on the Merger date. Shares and earnings per share information prior to the Merger have been retroactively restated to reflect the exchange ratio established in the recapitalization. Management evaluated the guidance contained in Accounting Standard Codification (“ASC”) Topic 805, Business Combinations (ASC 805) with respect to the identification of the acquirer in the merger and concluded, based on a consideration of the pertinent facts and circumstances as follows: The determination of the acquirer for accounting purposes was primarily based on the facts that, immediately following the Merger: (i) Fr8App’s existing stockholders owned a substantial majority of the voting rights in the combined company, (ii) Fr8App designated a majority of the members of the initial board of directors of the combined company, and (iii) Fr8App’s senior management holds all key positions in the senior management of the combined company. See Note 4 for additional discussion of the Merger. The Company continues to monitor the effects of the global coronavirus pandemic outbreak, (“COVID-19”) and the global macroeconomic environment, including increasing inflationary pressures; supply chain disruptions; social and political issues; regulatory matters, geopolitical tensions; and global security issues. The Company is also mindful of inflationary pressures on its cost base and is monitoring the impact on customer preferences. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

LIQUIDITY AND GOING CONCERN

LIQUIDITY AND GOING CONCERN	12 Months Ended
LIQUIDITY AND GOING CONCERN	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY AND GOING CONCERN	NOTE 2 – LIQUIDITY AND GOING CONCERN Since inception, the Company has met its cash needs through proceeds from issuing convertible notes, loans, and issuance of shares. As shown in the accompanying consolidated financial statements as of and for the year ended December 31, 2022, the Company has an accumulated deficit of $ 30.0 million, a shareholders’ equity of $ 3.1 million, a working capital of $ 2.2 million, short-term debt of $ 3.3 million and $ 1.0 million of unrestricted cash on hand. For the years ended December 31, 2022 and 2021, the Company has reported operating losses and negative cash flows from operations. The Company has historically met its cash needs through a combination of term loans, promissory notes, convertible notes, private placement offerings and sales of equity. The Company’s cash requirements are generally for operating activities. The Company currently projects that it will need to draw additional funds on its existing facilities and additional capital to fund its current operations and capital investment requirements until the Company scales to a revenue level that permits cash self-sufficiency. As a result, the Company may need to raise additional capital or secure debt funding to support on-going operations until such time. This projection is based on the Company’s current expectations regarding revenues, expenditures, cash burn rate and other operating assumptions. The sources of this capital are anticipated to be from drawing on existing facilities, and/or the sale of equity, any of which may not be achievable on favorable terms, or at all. Additionally, any debt or equity transactions may cause significant dilution to existing stockholders. If the Company is unable to raise additional capital moving forward, its ability to operate in the normal course and continue to invest in its product portfolio may be materially and adversely impacted and the Company may be forced to scale back operations or divest some or all of its assets. As a result of the above, in connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the Company’s liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern through twelve months from the date these consolidated financial statements are available to be issued. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These consolidated financial statements and related notes are presented in accordance with GAAP, expressed in U.S. dollars. The accompanying consolidated financial statements reflect all adjustments including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly the financial position, results of operations, and cash flows for the periods presented in accordance with GAAP. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, allowance for credit losses, valuation of share-based compensation and warrants, valuation of the Fr8App’s ordinary shares prior to the Merger, accounting for warrants, useful lives of internally developed software and property and equipment, whether an arrangement is or contains a lease, income tax accruals, the valuation allowance for deferred income taxes, and contingent liabilities. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Cash and Cash Equivalents Cash consists of funds held in bank accounts. Cash equivalents consist of short-term, highly liquid investments with original maturities of 90 days or less at the time of purchase and generally include money market accounts. Concentrations of Credit Risk The Company maintains cash accounts with various financial institutions. At times, balances in these accounts may exceed federally insured limits. Accounts at each institution within the United States (“US”) are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 449,991 2,661,919 The financial instrument that potentially subjects the Company to concentration of credit risk is accounts receivable and unbilled receivables. At December 31, 2022, two customers accounted for 42% 16% 35% 15% For the year ended December 31, 2022, two customers accounted for 17% 11% 37% Fair Value Measurements The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), establishes a hierarchy of inputs used when available. Observable inputs are what market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are those that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three levels of the fair value hierarchy are described below: Level 1— Inputs based on unadjusted quoted market prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2— Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable or can be corroborated by observable market data. Level 3— Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are both unobservable for the asset and liability in the market and significant to the overall fair value measurement. Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, which include trade accounts receivable, unbilled receivables, accounts payable, accrued expenses, and debt at variable interest rates, approximate their fair values at December 31, 2022 and 2021, respectively, principally due to the short-term nature, maturities, or nature of interest rates of the above listed items. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Accounts Receivable and Allowance for Credit Losses Accounts receivable are recorded at the net invoiced amount, net of allowances for credit losses, and do not bear interest. Unbilled receivables, which are reflected separately on the accompanying consolidated balance sheets, include unbilled amounts for services rendered in the respective period but not yet billed to the customer until a future date, which typically occurs within one month. The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. In accordance with ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, the Company also considers reasonable and supportable forecasts of future economic conditions and their expected impact on customer collections in determining the allowance for credit losses. The Company determines expected credit losses based on historical write-off experience, an analysis of the aging of outstanding receivables, customer payment patterns, and our expectations of changes in macro-economic conditions, including the ongoing COVID-19 pandemic, that may impact the collectability of outstanding receivables. 171,009 77,483 Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or circumstances exist that indicate the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets is measured by comparing the carrying amounts of the assets to the future undiscounted cash flows expected to be generated by the assets. If the asset or asset group is considered to be impaired, an impairment loss would be recorded to adjust the carrying amounts to the estimated fair value. Management has determined that no impairment of long-lived assets exists, and accordingly, no adjustments to the carrying amounts of the Company’s long-lived assets have been made for the year ended December 31, 2022 and 2021. Property and Equipment Property and equipment consisting of office and computer equipment, furniture and leasehold improvements are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives, ranging between three to seven years. SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT Useful Lives Equipment 3 Furniture 7 Leasehold improvements Shorter of useful life of asset or lease term Capitalized Software The Company complies with the guidance of ASC Topic 350-40, Intangibles—Goodwill and Other—Internal Use Software FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging Advertising Advertising costs are expensed as incurred. Advertising costs amounted to $ 43,299 421 Income Taxes The Company accounts for income taxes using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis, net operating losses, tax credit and other carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates when the assets and liabilities are expected to be realized or settled. The Company regularly reviews deferred tax assets for realizability and establishes valuation allowances based on available evidence including historical operating losses, projected future taxable income, expected timing of the reversals of existing temporary differences, and appropriate tax planning strategies. If the Company’s assessment of the realizability of a deferred tax asset changes, an increase to a valuation allowance will result in a reduction of net earnings at that time, while the reduction of a valuation allowance will result in an increase of net earnings at that time. The Company follows ASC Topic 740-10-65-1 in accounting for uncertainty in income taxes by prescribing rules for recognition, measurement and classification in financial statements of tax positions taken or expected to be in a tax return. This prescribes a two-step process for the financial statement measurement and recognition of a tax position. The first step involves the determination of whether it is more likely than not (greater than 50 percent likelihood) that a tax position will be sustained upon examination, based on the technical merits of the position. The second step requires that any tax position that meets the more likely than not recognition threshold be measured and recognized in the financial statements at the largest amount of benefit that is a greater than 50 percent likelihood of being realized upon ultimate settlement. This topic also provides guidance on the accounting for related interest and penalties, financial statement classification and disclosure. The Company’s policy is that any interest or penalties related to uncertain tax positions are recognized in income tax expense when incurred. The Company has no uncertain tax positions or related interest or penalties requiring accrual at December 31, 2022 and 2021. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Foreign Currency Translation The financial statements of the Company’s subsidiary operating in Mexico are prepared to conform to U.S. GAAP and translated into U.S. Dollars by applying a current exchange rate. The local currency has been determined to be the functional currency. Assets and liabilities of non-U.S. operations are translated at period-end exchange rates. Items appearing in the consolidated statements of operations are translated using average exchange rates during each period. Translation gains and losses are reported in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit). Deferred Financing Costs and Debt Discount Costs incurred in connection with obtaining certain financing are deferred and amortized on an effective interest method basis over the term of the related obligation. Debt discounts are also amortized using the effective interest method unless the interest method approximates the straight-line method. Amortization of such costs are included in interest expense, while the unamortized balances of deferred financing fees and debt discount are presented as reductions of the carrying value of the related debt. Intangible Assets Intangible assets include the Company’s domain name and are accounted for based on ASC Topic 350, Intangibles – Goodwill and Other Foreign Operations Operations outside the United States include a wholly-owned subsidiary in Mexico. Foreign operations are subject to risks inherent in operating under different legal systems and various political and economic environments. Among the risks are changes in existing tax laws, possible limitations on foreign investment and income repatriation, government price or foreign exchange controls, and restrictions on currency exchange. Revenue Recognition The Company’s revenues are accounted for under FASB ASC Topic 606, Revenue from Contracts with Customers FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Payment for the Company’s services is generally due within 30 to 45 days upon delivery of the shipment. Contracts entered into with customers do not contain material financing components. The Company’s contracts with customers have a duration of one year or less and do not require any significant start-up costs, and as such, costs incurred to obtain contracts associated with these contracts are expensed as incurred. Through the Company’s freight brokerage services, the Company is responsible for identifying and directing independent freight carriers to transport the shipper’s goods. The transportation of the loads is outsourced to third-party carriers. The Company is a principal in these arrangements, and therefore records revenue associated with these contracts on a gross basis. The Company controls the service and has primary responsibility to meet the customer’s requirements. The Company invoices and collects from its customers and also maintains discretion over pricing. Additionally, the Company is responsible for selection of third-party transportation providers to the extent used to satisfy customer freight requirements. At times, billing occurs subsequent to revenue recognition, resulting in an unbilled receivable which represents a contract asset. This contract asset is recorded as an unbilled receivable and presented on the consolidated balance sheets. The Company receives the unconditional right to bill when shipments are delivered to their destination. Convertible Debt and Beneficial Conversion Features The Company evaluates embedded conversion features within convertible debt under ASC 815, Derivatives and Hedging Debt with Conversion and Other Options Share-Based Compensation The Company accounts for share-based awards, including stock options and restricted stock awards, issued to employees in accordance with ASC Topic 718, Compensation—Stock Compensation Improvements to Nonemployee Share-Based payment Accounting For modification of stock compensation awards, the Company records the incremental fair value of the modified award as share-based compensation on the date of modification for vested awards or over the remaining vesting period for unvested awards. The incremental compensation is the excess of the fair value of the modified award on the date of modification over the fair value of the original award immediately before the modification. In addition, the Company records the remaining unrecognized compensation cost for the original cost for the original award on the modification date over the remaining vesting period for unvested awards. The Company estimates the expected term of stock options granted to employees using the simplified method, whereby the expected term equals the average of the vesting term and the original contractual term of the option. The Company utilizes this method as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. For stock options granted to non-employees, the contractual term of the option is utilized as the basis for the expected term assumption. All other assumptions used to calculate the grant date fair value are generally consistent with the assumptions used for options granted to employees. For purposes of calculating share-based compensation, the Company estimates the fair value of stock options using a Black-Scholes option-pricing model. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) The determination of the fair value of share-based payment awards utilizing the Black-Scholes model is affected by the Company’s stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. The expected volatility is primarily based on the historical volatility of peer company data while the expected life of the stock options is based on historical and other economic data trended into the future. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding to the expected option term. The dividend yield assumption is based on the Company’s history and expectation of no dividend payouts. If factors change and the Company employs different assumptions, share-based compensation expense may differ significantly from what has been recorded in the past. If there is a difference between the assumptions used in determining share-based compensation expense and the actual factors which become known over time, specifically with respect to anticipated forfeitures, the Company may change the input factors used in determining share-based compensation costs for future grants. These changes, if any, may materially impact the Company’s results of operations in the period such changes are made. Incremental compensation costs arising from subsequent modifications of awards after the grant date are recognized when incurred. In addition, the Company accounts for forfeitures of awards as they occur. For share-based awards that vest based on performance conditions, expense is recognized when it is probable that the conditions will be met. Earnings Per Share Basic earnings (loss) per share is computed by dividing net income (loss) available to ordinary shareholders by the weighted average number of outstanding ordinary shares for the period, considering the effect of securities series A and B preferred stock and series seed preferred stock. Diluted earnings (loss) per share is calculated by dividing net earnings (loss) by the weighted average number of ordinary shares and dilutive ordinary shares equivalents outstanding. During the periods when they are anti-dilutive, ordinary share equivalents, if any, are not considered in the computation. At December 31, 2022 and 2021, there were 636,710 88,961 Segments Operating segments are defined as components of an entity for which separate financial information is available. The Chief Operating Decision Maker (“CODM”) reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one operating and one reportable segment. The Company presents financial information about its operating segment and geographical areas in Note 16 to the consolidated financial statements. Emerging Growth Company The Company is an “emerging growth company”, as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Further, Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. Private companies are those companies that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as Further, Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. Private companies are those companies that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised, it adopts the new or revised standard at the time private companies adopt the new or revised standard, unless it chooses to early-adopt the new or revised accounting standard. Therefore, the Company’s consolidated financial statements may not be comparable to certain public companies. Reclassification Certain reclassifications, not affecting previously reported net loss, have been made to the previously issued consolidated financial statements to conform to the current year presentation. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the guidance on the issuer’s accounting for convertible debt instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, unless certain other conditions are met. The elimination of these models will reduce reported interest expense and increase reported net income for entities that have issued a convertible instrument that was within the scope of those models before the adoption of ASU 2020-06. ASU 2020-06 also requires that the effect of potential share settlement be included in the diluted EPS calculation when an instrument may be settled in cash or share. This amendment removes current guidance that allows an entity to rebut this presumption if it has a history or policy of cash settlement. Furthermore, ASU 2020-06 requires the application of the if converted method for calculating diluted earnings per share, and the treasury stock method will be no longer available. In addition, ASU 2020-06 clarifies that an average market price should be used to calculate the diluted EPS denominator in cases in which the exercise prices may change on the basis of an entity’s share price or changes in the entity’s share price may affect the number of shares that may be used to settle a financial instrument and that an entity should use the weighted-average share count from each quarter when calculating the year-to-date weighted-average share. The provisions of ASU 2020-06 are applicable for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The adoption of this standard did not have a material impact to the Company’s consolidated financial statements, since all of the Company’s convertible debt were converted to equity as part of the Merger during the year ended December 31, 2022. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU No. 2020-04 provides guidance on optional expedients for a limited time to ease the operational burden in accounting for (or recognizing the effects of) reference rate reform (LIBOR) on financial reporting. In December 2022, the FASB issued ASU 2022-06 Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848 (ASU 2022-06), which extends the optional transition relief to ease the potential burden in accounting for reference rate reform on financial reporting. The transition relief is provided through December 31, 2024 based on the expectation that the LIBOR will cease to be published as of June 30, 2023. The amendments are effective prospectively at any point through December 31, 2024. The Company will continue to monitor new contracts that could potentially be eligible for contract modification relief through December 31, 2024. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) In September 2022, the FASB issued ASU No. 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,” which is intended to enhance the transparency surrounding the use of supplier finance programs. The guidance requires companies that use supplier finance programs to make annual disclosures about the program’s key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. Only the amount outstanding at the end of the period must be disclosed in interim periods. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The guidance becomes effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company does not have any supplier finance programs and does not believe the impact of adopting this accounting standard update will be material to the consolidated financial statements.

MERGER

MERGER	12 Months Ended
MERGER	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
MERGER	NOTE 4 - MERGER As described in Note 1, Fr8App merged with Hudson Capital on February 14, 2022. In connection with the Merger, the following unregistered, restricted securities were issued by Hudson Capital to the shareholders of Fr8App, with terms such as customary adjustments for stock splits, dividends, rights offerings, pro rata distributions and fundamental transactions (the “Merger Consideration”), as adjusted for the February 15, 2022 and March 24, 2023 reverse stock splits (see Note 20). SCHEDULE OF SECURITIES ISSUED IN MERGER Securities Issued in Merger Issued at Merger Ordinary Shares 257,766 * Series A2 Preferred Shares 1,264,360 Series A1A Preferred Shares 4,473,547 Series Seed Preferred Shares 7,020 Series B Preferred Shares 7,389,850 Series A4 Preferred Shares 568,930 Ordinary Shares Warrants 522 * Series Seed Warrants 4,165 Equity Awards for Ordinary Shares 195,829 * Total Securities Issued in Merger 14,161,989 * Only ordinary shares were adjusted in the March 24, 2023 reverse stock split. Additionally, Fr8App’s convertible promissory notes, with aggregate outstanding principal and accrued interest of $ 7,965,626 All shares of ordinary shares, preferred stock, series seed, warrants and stock options of Fr8App issued and outstanding immediately prior to the Merger were cancelled and converted into equivalent Hudson Capital’s securities at an exchange ratio of 1 to 1.26855 (“Exchange Ratio”). Upon the closing of the transaction, Fr8App existing shareholders owned majority of the Company on a non-diluted basis at that time. As part of the Merger, on February 9, 2022, Hudson Capital and ATW Opportunities Master Fund, L.P. (“ATW Opportunities”), together with certain investors (collectively, the “PIPE Investors”) entered into a Securities Purchase Agreement pursuant to which Hudson Capital agreed to sell and issue to the PIPE Investors an aggregate of 1,060,606 106,061 3,500,000 On February 9, 2022, ATW Opportunities, together with certain existing stockholders of Fr8App, (collectively, the “SPA Investors”) entered into an amended and restated Securities Purchase Agreement with Hudson Capital (the “A&R SPA”) pursuant to which Hudson Capital agreed, among other things, to issue four series of warrants (Series A, Series B, Series C and Series D) to purchase an aggregate of 738,985 of Hudson’s ordinary shares (see Note 18). FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 4 – MERGER (CONTINUED) For all comparative periods up to the closing of the Merger, the equity structure has been restated to reflect the number of shares of the Company’s ordinary shares issues to legacy Hudson Capital’s stockholders in connection with the recapitalization transaction. As such, the shares and corresponding capital amounts and earnings per share related to legacy Fr8App common stock prior to the Merger have been retroactively restated as shares reflecting the exchange ratio established in the Merger agreement. SCHEDULE OF MERGER Cash – PIPE 3,500,000 Cash – Issuance of ordinary shares 1,356,178 Conversion of convertible promissory notes, net of discount 7,878,025 Transaction costs (3,449,177 ) Warrant liability, net of discount 3,440,144 Hudson Capital equity as of Merger 2,429,948 Total 15,155,118 Following the Merger, in an effort to focus on its core business as a North American transportation logistics technology platform company, the Company proceeded to divest any non-core, non-performing businesses and sell its wholly-owned subsidiary, Hong Kong Internet Financial Services (“HKIFS”), to private investors. HKIFS was a legacy Hudson Capital subsidiary. The sale of HKIFS was completed on March 30, 2022 for a nominal consideration, and included all of the prior operations, obligations and commitments related to its legacy Chinese operations. As such, all Company’s activities post-Merger comprised of Fr8App’s core business prior to the Merger and there was a minimal financial effect from the sale of HKIFS, which included nominal legal expenses to assemble and formalize the transaction.

RESTRICTED CASH IN ESCROW

RESTRICTED CASH IN ESCROW	12 Months Ended
RESTRICTED CASH IN ESCROW	Dec. 31, 2022
Receivables [Abstract]
RESTRICTED CASH IN ESCROW	NOTE 5 – RESTRICTED CASH IN ESCROW As of December 31, 2021, an amount of $ 175,000

CAPITALIZED SOFTWARE

CAPITALIZED SOFTWARE	12 Months Ended
CAPITALIZED SOFTWARE	Dec. 31, 2022
Capitalized Software
CAPITALIZED SOFTWARE	NOTE 6 – CAPITALIZED SOFTWARE Capitalized software consists of the following at: SCHEDULE OF CAPITALIZED SOFTWARE December 31, 2022 December 31, 2021 Capitalized software $ 3,178,850 $ 2,548,817 Accumulated amortization (2,428,995 ) (2,203,548 ) Net carrying amount 749,855 345,269 Capitalized software in-process - 245,733 Capitalized software, net $ 749,855 $ 591,002 Amortization expense for the years ended December 31, 2022 and 2021 was $ 225,447 285,069 Estimated amortization for capitalized software for future periods is as follows: SCHEDULE OF ESTIMATED AMORTIZATION CAPITALIZED SOFTWARE Year Ended 2023 $ 313,975 2024 248,125 2025 187,755 Total $ 749,855 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
PROPERTY AND EQUIPMENT	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 7 – PROPERTY AND EQUIPMENT Property and equipment consist of the following at: SCHEDULE OF PROPERTY AND EQUIPMENT, NET December 31, 2022 December 31, 2021 Equipment $ 84,806 $ 92,873 Furniture and fixtures 9,517 9,517 Leasehold improvements - 4,759 Total cost 94,323 107,149 Accumulated depreciation (66,716 ) (53,700 ) Property and equipment, net $ 27,607 $ 53,449 Depreciation expense for the years ended December 31, 2022 and 2021 was $ 17,887 16,130

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
ACCRUED EXPENSES	Dec. 31, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 8 – ACCRUED EXPENSES Accrued expenses consist of the following at: SCHEDULE OF ACCRUED EXPENSES December 31, 2022 December 31, 2021 Accrued freight costs $ 947,372 $ 603,332 Accrued payroll 416,039 289,408 Accrued value added tax 386,083 30,374 Accrued professional services 41,554 12,466 Other accrued liabilities 3,527 3,527 Total accrued expenses $ 1,794,575 $ 939,107

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
SHARE-BASED COMPENSATION	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 9 – SHARE-BASED COMPENSATION The Company has an Equity Incentive Plan (the “Plan”) under which the Company may grant restricted stock awards and stock options for up to 1,000,000 Stock Options The fair value of options and share awards granted under the stock option plan during the year ended December 31, 2022 and 2021 was estimated at the date of grant using the Black-Scholes option pricing model and the following assumptions for grants: SCHEDULE OF STOCK OPTION ASSUMPTIONS FOR GRANTS 2022 2021 Risk-free interest rates 0.986% 3.44 % 0.986 % Expected life of options 5 5 Expected volatility 73.62% 83.45 % 78.50 % Expected dividend yield 0.00 % 0.00 % FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 9 – SHARE-BASED COMPENSATION (CONTINUED) The following table summarizes stock option activity: SUMMARY OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Balance at January 1, 2021 90,290 $ 4.34 Granted 68,346 25.21 Forfeited/Expired (510 ) 4.34 Exercised - - Balance at December 31, 2021 158,126 13.36 6.58 854,217 Granted 334,773 17.90 Forfeited/Expired (57,714 ) 14.80 Exercised (43,642 ) 4.34 Balance at December 31, 2022 391,543 18.02 9.11 $ - Exercisable at December 31, 2022 66,193 16.80 7.69 $ - The following table summarizes the Company’s non-vested stock options. SUMMARY OF NON-VESTED STOCK OPTION Non-vested Options Outstanding Weighted-Average Grant Date Fair Value At January 1, 2021 38,203 $ 3.28 Options granted 68,346 4.53 Options forfeited/cancelled (510 ) 3.28 Options exercised - - Options vested (36,019 ) 5.03 At December 31, 2021 70,020 5.88 Options granted 334,773 10.88 Options forfeited/cancelled (53,808 ) 7.77 Options exercised - - Options vested (25,635 ) 3.80 At December 31, 2022 325,350 $ 10.30 For the years ended December 31, 2022 and 2021, the Company recognized $ 555,156 171,500 3,418,134 four years Restricted Stock Awards From time-to-time the Company issues time-based restricted stock awards (“RSAs”) under the Plan. The fair value of the nonvested shares are measured at the market price of a share on the date of grant and will be recognized as share-based compensation expense over the requisite service period. Grants vest over a period ranging from one to four years based on continued employment or service. The ordinary shares underlying the RSAs are not considered issued and outstanding until vested. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 9 – SHARE-BASED COMPENSATION (CONTINUED) The following table summarizes the restricted stock awards activity: SUMMARY OF RESTRICTED STOCK AWARDS Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Share Outstanding at January 1, 2021 - $ - Granted 10,110 13.87 Forfeited (228 ) 13.87 Exercised - - Vested (4,534 ) 13.87 Outstanding at December 31, 2021 5,288 13.87 Granted 23,732 17.53 Forfeited - - Exercised - - Vested (26,031 ) 16.77 Outstanding at December 31, 2022 2,989 $ 13.87 For the years ended December 31, 2022 and 2021, the Company recognized $ 449,236 63,904 40,183 three years

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
SHORT-TERM BORROWINGS	Dec. 31, 2022
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS	NOTE 10 – SHORT-TERM BORROWINGS On March 7, 2019, the Company entered into a short-term promissory note (“2019 Note”) with a lender (the “2019 Note Lender”) which provides the Company a revolving line of credit. On July 12, 2022, the note was amended to increase the maximum principal amount that could be advanced withdrawn under the line of credit to $ 5,000,000 3.25% 7.50% July 31, 2023 The Company incurred interest expense related to the short-term borrowings in the amount of $ 382,655 263,788 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

PAYCHECK PROTECTION PROGRAM _ L

PAYCHECK PROTECTION PROGRAM – LONG TERM	12 Months Ended
PAYCHECK PROTECTION PROGRAM – LONG TERM	Dec. 31, 2022
Debt Disclosure [Abstract]
PAYCHECK PROTECTION PROGRAM – LONG TERM	NOTE 11 – PAYCHECK PROTECTION PROGRAM – LONG TERM On May 6, 2020, the Company received the proceeds from a loan in the amount of $ 114,700 Debt May 6, 2022 1.00% Accordingly, the PPP Loan was recognized as long-term debt in the Company’s consolidated balance sheets. There is no prepayment penalty. Under the terms of the PPP, all or a portion of the principal may be forgiven if the PPP Loan proceeds are used for qualifying expenses as described in the CARES Act, such as payroll costs, benefits, rent, and utilities. No assurance was provided that the Company will obtain forgiveness of the PPP Loan in whole or in part. With respect to any portion of the PPP Loan that is not forgiven, the PPP Loan would be subject to customary provisions for a loan of this type, including customary events of default relating to, among other things, payment defaults and breaches of the provisions of the PPP Loan. On March 22, 2021, the PPP loan was forgiven in whole, which included principal of $ 114,700 978 115,725

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
CONVERTIBLE DEBT	Dec. 31, 2022
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	NOTE 12 – CONVERTIBLE DEBT 2020 Bridge Notes On October 7, 2020, Fr8App entered into a note purchase agreement (the “2020 Bridge Notes”) with certain existing shareholders and investors pursuant to which Fr8App issued bridge notes in the aggregate principal amount of $ 4,004,421 two years 5 Under the note purchase agreement, Fr8App issued 103,124 242,219 50,000 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 12 – CONVERTIBLE DEBT (CONTINUED) 2021 Bridge Notes In 2021, the Fr8App entered into three note purchase agreements with an existing shareholder pursuant to which the Fr8App issued in January 2021, May 2021, and July 2021 bridge notes in the aggregate principal amount of $ 1,000,000 1,608,842 1,000,000 October 7, 2022 5% 20% 25% The convertible notes and their conversion features did not meet the definition of a derivative and the embedded conversion option is not subject to bifurcation and classification in the consolidated financial statements as liabilities at fair value. The Company recorded interest expense pursuant to the stated interest rates on the convertible notes in the amount of $ 0 312,426 4,166 24,996 20,184 121,104 In connection with the Merger, all of Fr8App’s convertible notes, including principal and accrued interest, were converted into Series B Preferred shares by which the Company issued 4,049,887 7,965,626 7,613,292 352,334 The aggregate balance of the convertible notes payable is as follows at: SCHEDULE OF CONVERTIBLE NOTES PAYABLE December 31, 2022 December 31, 2021 Convertible notes payable $ - $ 7,613,292 Accrued interest - 356,238 Less: unamortized deferred financing costs - (19,158 ) Less: unamortized discount - (92,793 ) Convertible note payable, net $ - $ 7,857,579 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
NOTES PAYABLE	Dec. 31, 2022
Notes Payable
NOTES PAYABLE	NOTE 13 – NOTES PAYABLE September Promissory Note On September 16, 2021, Fr8App entered into a promissory note with Hudson Capital (the “September Promissory Note”), for the amount of $ 1,500,000 September 16, 2022 0.17 2,692,396 1,500,000 1,192,396 First December Promissory Note On December 29, 2021, Fr8App entered into a promissory note with ATW Opportunities Master Fund, L.P pursuant to which Fr8App issued notes in the aggregate principal amount of $ 200,000 30,000 170,000 August 29, 2022 0.33 Second December Promissory Note On December 29, 2021, in connection with a contemporaneous investment in Hudson Capital funded by ATW Opportunities, Fr8App entered a promissory note with Hudson Capital (the “Second December Promissory Note”), for the amount of $ 950,000 September 28, 2022 0.17 In connection with the First and the Second December Promissory Notes, and the contemporaneous investment by ATW Opportunities in Hudson Capital, Fr8App also issued warrants to ATW Opportunities to purchase certain securities of Fr8App (the “Warrant Securities”) (see Note 18). The Company measured the fair value of the warrants at the issuance date to be $ 2,756,669 1,120,000 1,636,669 Settlement Promissory Note On May 24, 2022, the Company entered into a settlement agreement with a law firm related to services in the amount of $ 900,000 400,000 25,000 100,000 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 13 – NOTES PAYABLE (CONTINUED) The aggregate balance of the notes payable is as follows at: SCHEDULE OF NOTE PAYABLE December 31, 2022 December 31, 2021 Notes payable $ - $ 2,650,000 Less: unamortized discount - (2,203,226 ) Notes payable, net $ - $ 446,774 During the years ended December 31, 2022 and 2021, amortization of debt discount was recorded to interest expense in the amount of $ 515,625 446,774

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 14 – INCOME TAXES Income tax expense consists of the following components: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE December 31, 2022 December 31, 2021 Current Federal $ - $ - State 41,401 - Foreign 49,110 40,264 Total Current 90,511 40,264 - - Deferred Federal $ - $ - State - - Total Deferred - - Income tax expense $ 90,511 $ 40,264 The Company’s provision for income taxes for the years ended December 31, 2022 and 2021 is based on the estimated annual effective tax rate, plus discrete items. The following table presents the provision for income taxes and the effective tax rates for years ended December 31, 2022 and 2021: SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES December 31, 2022 December 31, 2021 Loss before income tax provision $ (8,096,671 ) $ (8,160,541 ) Income tax provision 90,511 40,264 Effective tax rate -1.12 % -0.49 % The difference between the Company’s effective tax rate for the years ended December 31, 2022 and 2021 and the US statutory rate of 21 Reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate is as follows: FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 14 – INCOME TAXES (CONTINUED) SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE December 31, 2022 December 31, 2021 Income tax expense (benefit) at federal statutory rate $ (1,700,301 ) 21.00 % $ (1,713,714 ) 21.00 % State and local income taxes net of federal tax benefits (17,442 ) 0.12 % (21,754 ) 0.27 % Return to provision adjustments (140,374 ) 1.73 % 5,119 -0.06 % Other adjustments to deferred 1,051,874 -12.99 % - - Change in valuation allowance 720,407 -8.90 % 2,295,280 -28.13 % Permanent differences 166,816 -2.06 % (528,281 ) 6.47 % Other– net 9,531 -0.12 % 3,614 -0.04 % Income tax expense $ 90,511 -1.12 % $ 40,264 -0.49 % At December 31, 2022 and December 31, 2021, the Company had federal net operating losses (“NOLs”) of approximately of $ 25,375,000 17,817,000 NOLs expire from 2035 to 2042 4,103,000 The Company is in process of evaluating the effects that a change in ownership under Internal Revenue Code Section 382 may limit the potential utilization of its NOLs going forward. Temporary differences which give rise to a significant portion of deferred tax assets are as follows: SCHEDULE OF DEFERRED TAX ASSET December 31, 2022 December 31, 2021 Accrued expenses $ 65,011 $ 214,397 Fixed and intangible assets (54,219 ) (75,900 ) Allowance for doubtful accounts 13,885 16,678 Warrant amortization 211,142 96,165 Net operating loss - Federal 5,328,850 4,648,504 Net operating loss - States 189,695 134,112 Deferred tax asset, gross 5,754,364 5,033,956 Less: Valuation allowance (5,754,364 ) (5,033,956 ) Net deferred tax asset $ - $ - In making this determination, the Company is required to give significant weight to evidence that can be objectively verified. It is generally difficult to conclude that a valuation allowance is not needed when there is significant negative evidence, such as cumulative losses in recent years. Forecasts of future taxable income are considered to be less objective than past results. At December 31, 2022 and December 31, 2021, the Company maintains a full valuation allowance against its deferred tax assets. Income tax expense is recorded using the asset and liability method. Deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to temporary differences between amounts reported for income tax purposes and financial statement purposes, using current tax rates. A valuation allowance is recognized if it is anticipated that some or all of a deferred tax asset will not be realized. The Company must assess the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent that the Company believes that recovery is not likely, it must establish a valuation allowance. Significant management judgment is required in determining the provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against net deferred tax assets. None of the Company’s Federal or state income tax returns are currently under examination by the Internal Revenue Service (“IRS”) or state authorities. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

LEASES

LEASES	12 Months Ended
LEASES	Dec. 31, 2022
Leases
LEASES	NOTE 15 – LEASES In November 2020, Fr8App entered into a lease agreement for 14 workstations in Mexico for a term of 12 October 31, 2021 12 October 31, 2022 12 November 1, 2023 118,000 110,000

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
SEGMENT INFORMATION	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 16 – SEGMENT INFORMATION Geographic long-lived asset information presented below is based on the physical location of the assets at the end of year. Long-lived assets including intangible assets, capitalized software, property and equipment and security deposits, by geographic region, are as follows at: SCHEDULE OF SEGMENT LONG-LIVED ASSETS December 31, 2022 December 31, 2021 United States $ 262,764 $ 369,706 Mexico 540,036 290,548 Total long-lived assets $ 802,800 $ 660,254 The following table summarizes the Company’s total revenue by geographic area based on the billing address of the customers: SCHEDULE OF REVENUE BY GEOGRAPHIC AREA OF CUSTOMERS 2022 2021 Year Ended December 31, 2022 2021 United States $ 20,071,385 $ 20,156,744 Mexico 5,817,051 1,317,407 Total revenue $ 25,888,436 $ 21,474,151

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 17 – RELATED PARTY TRANSACTIONS The Company also provided freight services to a customer owned by a shareholder. The revenue for these services for the years ended December 31, 2022 and 2021 was $ 0 99,000 In 2021 and 2022, the Company issued various warrants to ATW Opportunities, a shareholder and entered into various promissory notes with shareholders. (See Note 13 and 18). FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

WARRANTS

WARRANTS	12 Months Ended
WARRANTS	Dec. 31, 2022
Warrants
WARRANTS	NOTE 18 – WARRANTS Warrant Classified as Liabilities The Company’s warrant liabilities contained unobservable inputs that reflected the Company’s own assumptions in which there was little, if any, market activity as of the measurement date. Accordingly, the Company’s warrant liabilities are measured on a recurring basis using unobservable inputs and were classified as level 3 measurements. In connection with the September Promissory Note, on September 16, 2021 Fr8App also issued the September Warrant Securities to Hudson to purchase certain of its securities. Hudson assigned the warrants it received from Fr8App to ATW Opportunities, an affiliate of a shareholder and executed a Warrant Assignment Agreement on September 16, 2021 (see Note 13). Pursuant to the terms of the warrant agreement, upon closing of the Merger, the warrant will be automatically deemed exercised and the Company will issue 1,891,928 1,891,928 1.125 The warrant agreement includes additional optional exercise triggers upon certain financing transactions if the Merger is not completed. In addition, if the warrants are not exercised prior to October 7, 2022 under any of the additional optional exercise triggers, then at any time on or after October 7, 2022, the warrant holder may elect to exercise a warrant to purchase up to a number of September Warrant Securities equal to the quotient obtained by dividing (A) $ 2,700,000 0.01 The warrants are considered an unconditional obligation to issue a variable number of the Company’s shares for a fixed monetary amount known at inception. As such, the warrants are recorded as a liability until exercised. The Company measured the fair value of the warrants to be $ 2,692,396 1,703,782 988,614 1,192,396 497,759 56,758 The following assumptions were used when calculating the fair value of the A3 Warrants: SUMMARY OF FAIR VALUE AT GRANT DATE 2022 2021 Exercise price of the warrants $ 0.01 1.125 $ 0.01 1.125 Expected life of the warrants 0.01 6.59 0.3 7 Current value of the underlying Series A3 Preferred Stock $ 0.77 $ 0.75 0.82 Expected volatility 28.3 66.2 % 58.5 71.3 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rates 0.05 2.02 % 0.02 1.44 % FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 18 – WARRANTS (CONTINUED) As part of the Merger, all Series A3 Preferred Stock and warrants were replaced to Series B Preferred Stock and warrants with identical terms to Series A3 Preferred Stock and warrants Pursuant to the terms of the September Warrant Securities, upon closing of the Merger, the warrant securities were exercised and the Company issued 1,090,909 1,891,928 1.125 On December 29, 2021, Fr8App issued warrants to an affiliate of a shareholder in connection with the First and Second December Promissory Note (see Note 13). Pursuant to the terms of the warrant agreement, upon closing of the Merger (see Note 13), the warrant will be automatically deemed exercised and the Company will issue 2,376,439 2,376,439 1.125 The warrant agreement includes additional optional exercise triggers upon certain financing transactions if the Merger is not completed. In addition, if the warrants are not exercised prior to December 29, 2022 under any of the additional optional exercise triggers, then at any time on or after December 29, 2022, the warrant holder may elect to exercise a warrant to purchase up to a number of December Warrant Securities equal to the quotient obtained by dividing (A) $ 3,391,452 75% 0.01 The warrants are considered an unconditional obligation to issue variable number of the Company’s shares for a fixed monetary amount known at inception. As such, the warrants are recorded as a liability until exercised. The Company measured the fair value of the warrants to be $ 2,756,669 1,758,565 998,104 1,636,669 71,293 The following assumptions were used when calculating the fair value of the A3 Warrants: SUMMARY OF FAIR VALUE AT GRANT DATE 2022 2021 Exercise price of the warrants $ 0.01 1.125 $ 0.01 1.125 Contractual life of the warrants 0.01 6.88 0.3 7 Current value of the underlying Series A3 Preferred Stock $ 0.77 $ 0.80 Expected volatility 28.3 65.3 % 66.6 71.3 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rates 0.05 2.01 % 0.02 1.44 % Pursuant to the terms of the December Warrant Securities, upon closing of the Merger the warrant securities were exercised and the Company issued 2,376,439 2,376,439 1.125 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 18 – WARRANTS (CONTINUED) Warrants Classified as Equity On November 9, 2015, Fr8App issued 522 86.71 Under the terms of a short-term borrowing agreement signed in 2017, the lender had a right to invest up to the greater of (i) $ 250,000 4,165 18.00 On August 26, 2020, Fr8App issued a warrant to an affiliate of a shareholder to purchase up to 441,605 0.43 441,605 0.43 August 26, 2027 The following assumptions were used when calculating the issuance date fair value: SUMMARY OF FAIR VALUE AT GRANT DATE Exercise price of the warrants $ 0.43 Expected life of the warrants 7 years Current value of the underlying share $ 25.10 Expected volatility 101.70 % Expected dividend yield 0.00 % Risk-free interest rates 0.22 % On February 9, 2022, the Company and the SPA Investors entered into the A&R SPA (See Note 4) pursuant to which the Company agreed to, among other things, issue four series of warrants (Series A, Series B, Series C and Series D) to purchase an aggregate of 738,985 of the Company’s ordinary shares. These warrants will remain exercisable for a period of seven years after issuance. The exercise price of Series A, Series B, Series C and Series D Warrants are $ 33.00 , $ 26.40 , $ 16.50 , $ 24.75 per ordinary share, respectively, subject to customary adjustments for stock splits, dividends, rights offerings, pro rata distributions and fundamental transactions. On February 9, 2022, the Company and the PIPE Investors entered into a Securities Purchase Agreement pursuant to which the Company agreed to sell and issue to the PIPE Investors an aggregate of 1,060,606 106,061 3,500,000 The following assumptions were used when calculating the fair value of the Series A, B, C and D Warrants: SUMMARY OF FAIR VALUE AT GRANT DATE Exercise price of the warrants $ 16.50 33.00 Contractual life of the warrants 7 years Current value of the underlying share $ 26.30 Expected volatility 88.05 % Expected dividend yield 0.00 % Risk-free interest rates 1.98 % FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 18 – WARRANTS (CONTINUED) On July 12, 2022, the Company entered into a securities amendment agreement with holders of the Company’s Series Seed, Series A1-A, Series A2, Series A4 Preferred Shares, Series B Preferred Shares and Series A, B, C and D warrants issued pursuant to the A&R SPA dated February 9, 2022 (the “Warrants”). The securities amendment agreement amended several terms of the Preferred Shares and the Warrants, including conversion terms. See Note 20 for further details. As part of the October 27, 2022 securities purchase agreement, as described in Note 20, the Company issued 40,000 210,000 0.01 1,002,100 The table below summarizes the Company’s warrant activities: SUMMARY OF WARRANT ACTIVITY Number of Ordinary Shares Warrants () Number of Series A, B, C, D Warrants () Number of Series Seed Shares Warrants Number of Series A2 Preferred Shares Warrants Exercise Price Range Per Share Weighted Average Exercise Price Balance at December 31, 2020 522 - 4,165 441,605 $ 0.43 86.71 $ 0.70 Forfeited - - - - - - Exercised - - - (441,605 ) 0.43 0.43 Balance at December 31, 2021 522 - 4,165 - 18.00 86.71 25.65 Granted 210,000 845,046 - - 0.01 33.00 19.39 Forfeited - - - - - - Converted - (51,334 ) - - 16.50 33.00 21.00 Exercised (210,000 ) - - - 0.01 0.01 Balance at December 31, 2022 522 793,712 4,165 - $ 16.50 86.71 $ 24.42 (*) Only ordinary shares were adjusted in the March 24, 2023 reverse stock split. Series A, B, C, and D Warrants conversion price are 0.779 0.816 0.888 0.826 1,709 1,331 0.779 25,024 22,221 0.888 24,601 20,320 0.826

DEFINED CONTRIBUTION PLAN

DEFINED CONTRIBUTION PLAN	12 Months Ended
DEFINED CONTRIBUTION PLAN	Dec. 31, 2022
Retirement Benefits [Abstract]
DEFINED CONTRIBUTION PLAN	NOTE 19 - DEFINED CONTRIBUTION PLAN The Company has a defined contribution plan covering eligible employees with at least two months of service. The Company fully matches employee contributions up to 3% of total compensation, plus 50% of contributions that exceed that amount up to 5% of total compensation 23,758 29,477 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT)	12 Months Ended
STOCKHOLDERS’ EQUITY (DEFICIT)	Dec. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIT)	NOTE 20 – STOCKHOLDERS’ EQUITY (DEFICIT) February 14, 2022 Reverse Stock Split The Board of Directors of Hudson Capital approved a reverse stock split of 2.2:1 of Hudson Capital on January 21, 2022, effective as of February 14, 2022. Hudson Capital’s ordinary shares began trading on a split adjusted basis on February 15, 2022 March 24, 2023 Reverse Stock Split The Company effected a ten for one reverse stock split on March 24, 2023. All ordinary shares and per ordinary share information in these consolidated financial statements has been retroactively adjusted to reflect this reverse stock split. All classes of preferred shares were not subject to this reverse stock split prior to conversion to ordinary shares Prior to Merger Closing Prior to the closing of the Merger with Hudson, Fr8App’s authorized capitalization under its charter (“Charter”) consisted of the following (at a par value per share of $0.00001): SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED Ordinary Shares 6,843,703 Non-Voting Common Shares 8,000 Ordinary Shares, authorized 8,000 Series Seed Preferred Shares 19,958 Series A1A Preferred Shares 7,991,078 Series A1B Preferred Shares 3,167,474 Series A2 Preferred Shares 2,258,521 Series A3 Preferred Shares 46,000,000 Series A4 Preferred Shares 1,000,000 Holders of Ordinary Shares were entitled to one vote for each share of Ordinary Shares held at all meetings of stockholders. Holders of outstanding shares of Preferred Stock are entitled to cast the number of votes equal to the number of whole shares of Ordinary Shares into which the shares of Preferred Stock held by such holder were convertible as of the record date. Except as specifically indicated Fr8App’s Charter the holders of Preferred Stock voted together with the holders of Ordinary Shares, as a single class and on an as-converted to Ordinary Shares basis. The Non-Voting Ordinary Shares was not entitled to vote on any matters. The Charter also included certain customary preferred stock protective provisions which gave a specified majority of the outstanding shares of Series A2 Preferred Stock the right to approve certain customary fundamental actions by Fr8App. The holders of record of the Ordinary Shares and Preferred Stock, voting together as a single class, were entitled to elect the directors of Fr8App. The Charter contained certain restrictions on Fr8App’s ability to pay dividends on its Ordinary Shares without also simultaneously paying dividends on the Preferred Stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of Fr8App, the assets of Fr8App available for distribution to its stockholders or, in the case of a Deemed Liquidation Event (as defined in the Charter) the consideration or proceeds available for distribution were to be distributed to the holders of all classes of stock pro rata based on the number of shared held by each such holder, on as if-converted basis immediately prior to such events. No share of Ordinary Shares , Non-Voting Ordinary Shares or Preferred Stock enjoyed a liquidation preference of priority with respect to any such distributions. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 20 – STOCKHOLDERS’ EQUITY (DEFICIT) (CONTINUED) Each share of Preferred Stock was convertible, at the option of the holder, into such number of shares of Ordinary Shares on a one-to-one basis, subject to certain anti-dilution adjustments to the Series A2 Conversion Price or the Series A1-A Conversion Price in the event of issuances or deemed issuances of Ordinary Shares at prices below the effective Series A2 Conversion Price or Series A1-A Conversion Price. The conversion prices of all Preferred Stock were also subject to other customary adjustments in the case of certain dividends, distributions, stock splits, stock combinations, reorganizations and similar transactions effecting the Ordinary Shares. Post-Merger Closing: On the date of the Merger, the Company adopted Hudson’s Memorandum and Articles of Association (“MAA”). On May 26, 2022, the MAA was amended by the Company, and further amended on July 12, 2022. The Company is authorized under the MAA as amended, to issue an unlimited number of shares divided as follows: SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED Number of Shares Par Value Per Share Ordinary Shares Unlimited $ 0.11 Series Seed Preferred Shares 25,000 $ 0.0001 Series A1A Preferred Shares 10,000,000 $ 0.0001 Series A2 Preferred Shares 3,000,000 $ 0.0001 Series A4 Preferred Shares 17,500,000 $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares 1,000,000 None Holders of Ordinary Shares are entitled to one vote for each share of Ordinary Share held at all meetings of stockholders. The holders of Preferred Shares shall not be entitled to vote on any resolution of shareholders, except in relation to a variation of the rights of the Preferred Shares. The MAA contained certain restrictions on the Company’s ability to pay dividends on its Ordinary Shares without also simultaneously paying dividends on the Preferred Shares. The holders Preferred Shares shall be entitled to receive dividends equal (on an as-if-converted-to-Ordinary Shares basis) to and in the same form as dividends actually paid on Ordinary Shares when, as and if such dividends are paid on Ordinary Shares. The Preferred Shares are convertible, at the option of the holder thereof, at any time into such number of fully paid and non-assessable Ordinary Shares at the applicable Conversion Price as detailed in the MAA and subject to certain adjustments such as reorganization, recapitalization, reclassification, consolidation, In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the assets of the Company available for distribution to its stockholders or, in the case of a Deemed Liquidation Event (as defined in the MAA) the consideration or proceeds available for distribution, as the case may be, were to be distributed to the holders of Preferred Shares and the holders of Ordinary Shares, pro rata based on the number of shares held by each shareholder, treating for this purpose all such securities as if they had been converted to Ordinary Shares pursuant to the terms of the MAA immediately prior to such liquidation, dissolution or winding up of the Company. As long as any of the Preferred Shares are outstanding, the Company shall not do certain actions, including changing certain rights of Preferred Shares without the written consent or affirmative approval of the holders of a majority of the then outstanding of each class of Preferred Shares. December 2021 Warrant Exercise On December 17, 2021, Fr8App issued 441,605 0.43 191,466 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 20 – STOCKHOLDERS’ EQUITY (DEFICIT) (CONTINUED) July 2022 Securities Purchase Agreement and Securities Amendment Agreement On July 12, 2022, the Company and ATW Opportunities Master Fund, L.P. (“ATW Opportunities”) entered into a securities purchase agreement (“July 2022 SPA”) pursuant to which the Company agreed to sell and issue to ATW Opportunities 1,285,714 2,700,000 809,524 1,700,000 1,500,000 200,000 476,190 1,000,000 Also on July 12, 2022, the Company entered into a securities amendment agreement (“July 2022 SAA”) with holders of the Company’s Series Seed, Series A1-A, Series A2, and Series A4 Preferred Shares (collectively, the “Series A Preferred Shares”), Series B Preferred Shares and Series A, B, C and D warrants issued pursuant to the A&R SPA dated February 9, 2022 (the “Warrants”). The parties to the July 2022 SAA agreed to the following: (i) The Company’s memorandum and articles of association was amended to remove the anti-dilution provision to its Series A Preferred Shares and a reset of the conversion ratios to Ordinary Shares of Series A1-A, A2, and B. The conversion ratio of the Preferred shares to Ordinary shares following the reset, as adjusted for the March 24, 2023 reverse stock split, are as follows: Series A1-A: 0.149, Series A2: 0.223, Series A4: 0.15, Series B: 0.471, Series Seed: 0.1 (ii) The Company issued amended and restated Series A, B, C and D Warrants to the warrant holders with the following amendments: ●The anti-dilution provision was deleted. ●The cashless exercise formula was amended so that at any time, upon a cashless exercise of the applicable Warrant, 0.779 of Company’s Ordinary share will be issued for each Series A Warrant, 0.816 Ordinary share shall be issued for each Series B Warrant, 0.888 Ordinary share shall be issued for each Series C Warrant and 0.826 Ordinary share shall be issued for each Series D Warrant The Company has determined that, given the underlying economics in the value of the preferred shares before and after the capital raise, these transactions result in an extinguishment of preferred stock and an issuance of new preferred stock. The amendments to the Preferred shares and Warrants terms under the July 2022 SAA were negotiated and agreed as part of the funding provided by ATW Opportunities under the July 2022 SPA and are directly attributable to the equity transaction under that agreement. As such, the amendments are considered as additional value received by the Preferred shares holders resulting in additional paid-in capital and equity issuance cost, payable mostly to ATW Opportunities in a form of improved conversion terms with no net impact on additional paid-in capital and total equity. October 2022 Securities Purchase Agreement On October 27, 2022, the Company entered into a securities purchase agreement with ATW Opportunities Master Fund L.P. and ATW Master II, LP. (collectively, the “Purchasers”) pursuant to which the Company agreed to sell for an aggregate purchase price of $ 1,000,000 40,000 210,000 16,000 84,000 400,000 24,000 126,000 600,000 th 63,000 0.01 21,000 0.01 126,000 0.01 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 20 – STOCKHOLDERS’ EQUITY (DEFICIT) (CONTINUED) Other Issuances of Shares During the Year Ended December 31, 2022 The Company issued a total 547,445 589,292 68,456 942,611 0.149 0.223 0.471 43,873 1,709 25,024 24,601 0.779 0.888 0.826 The different classes of preferred stock issued are set forth below: SCHEDULE OF PREFERRED STOCK ISSUED December 31, 2022 December 31, 2021 Series Seed Preferred Shares 7,020 7,020 Series A1A Preferred Shares 3,884,256 4,473,547 Series A2 Preferred Shares 1,195,904 1,264,360 Series A4 Preferred Shares 1,854,644 - Series B Preferred Shares 7,507,845 1,716,888 * * Total 14,449,669 7,461,815 * Series A3 were renamed to Series B as part of the Merger and are shown as Series B shares at December 31, 2021

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 21 - SUBSEQUENT EVENTS Management has evaluated subsequent events through April 21, 2023, the date that the consolidated financial statements were available for issuance. On January 3, 2023, the Company entered into a promissory note with Freight Opportunities LLC pursuant to which the Company issued notes in the aggregate principal amount of $ 6,593,407 593,407 6,000,000 1,650,000 1,100,000 1,000,000 (i) the Prime Rate plus four percent (4%) per annum, or (ii) nine percent (9%). If payments are made in ordinary shares, interest is set at a rate equal to the greater of (i) the Prime Rate plus six percent (6%) per annum, or (ii) nine percent (9%). On March 24, 2023, the Company amended its MAA to effect a ten for one reverse stock split. All ordinary shares and per ordinary share information in these consolidated financial statements has been retroactively adjusted to reflect this reverse stock split. All classes of preferred shares were not subject to this reverse stock split prior to conversion to ordinary shares. The ordinary shares to which the preferred shares are convertible to, are adjusted accordingly upon conversion of the preferred shares.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements and related notes are presented in accordance with GAAP, expressed in U.S. dollars. The accompanying consolidated financial statements reflect all adjustments including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly the financial position, results of operations, and cash flows for the periods presented in accordance with GAAP. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, allowance for credit losses, valuation of share-based compensation and warrants, valuation of the Fr8App’s ordinary shares prior to the Merger, accounting for warrants, useful lives of internally developed software and property and equipment, whether an arrangement is or contains a lease, income tax accruals, the valuation allowance for deferred income taxes, and contingent liabilities. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Cash and Cash Equivalents	Cash and Cash Equivalents Cash consists of funds held in bank accounts. Cash equivalents consist of short-term, highly liquid investments with original maturities of 90 days or less at the time of purchase and generally include money market accounts.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company maintains cash accounts with various financial institutions. At times, balances in these accounts may exceed federally insured limits. Accounts at each institution within the United States (“US”) are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 449,991 2,661,919 The financial instrument that potentially subjects the Company to concentration of credit risk is accounts receivable and unbilled receivables. At December 31, 2022, two customers accounted for 42% 16% 35% 15% For the year ended December 31, 2022, two customers accounted for 17% 11% 37%
Fair Value Measurements	Fair Value Measurements The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), establishes a hierarchy of inputs used when available. Observable inputs are what market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are those that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three levels of the fair value hierarchy are described below: Level 1— Inputs based on unadjusted quoted market prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2— Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable or can be corroborated by observable market data. Level 3— Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are both unobservable for the asset and liability in the market and significant to the overall fair value measurement.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, which include trade accounts receivable, unbilled receivables, accounts payable, accrued expenses, and debt at variable interest rates, approximate their fair values at December 31, 2022 and 2021, respectively, principally due to the short-term nature, maturities, or nature of interest rates of the above listed items. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable are recorded at the net invoiced amount, net of allowances for credit losses, and do not bear interest. Unbilled receivables, which are reflected separately on the accompanying consolidated balance sheets, include unbilled amounts for services rendered in the respective period but not yet billed to the customer until a future date, which typically occurs within one month. The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. In accordance with ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, the Company also considers reasonable and supportable forecasts of future economic conditions and their expected impact on customer collections in determining the allowance for credit losses. The Company determines expected credit losses based on historical write-off experience, an analysis of the aging of outstanding receivables, customer payment patterns, and our expectations of changes in macro-economic conditions, including the ongoing COVID-19 pandemic, that may impact the collectability of outstanding receivables. 171,009 77,483
Long-Lived Assets	Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or circumstances exist that indicate the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets is measured by comparing the carrying amounts of the assets to the future undiscounted cash flows expected to be generated by the assets. If the asset or asset group is considered to be impaired, an impairment loss would be recorded to adjust the carrying amounts to the estimated fair value. Management has determined that no impairment of long-lived assets exists, and accordingly, no adjustments to the carrying amounts of the Company’s long-lived assets have been made for the year ended December 31, 2022 and 2021.
Property and Equipment	Property and Equipment Property and equipment consisting of office and computer equipment, furniture and leasehold improvements are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives, ranging between three to seven years. SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT Useful Lives Equipment 3 Furniture 7 Leasehold improvements Shorter of useful life of asset or lease term
Capitalized Software	Capitalized Software The Company complies with the guidance of ASC Topic 350-40, Intangibles—Goodwill and Other—Internal Use Software FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Warrants	Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging
Advertising	Advertising Advertising costs are expensed as incurred. Advertising costs amounted to $ 43,299 421
Income Taxes	Income Taxes The Company accounts for income taxes using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis, net operating losses, tax credit and other carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates when the assets and liabilities are expected to be realized or settled. The Company regularly reviews deferred tax assets for realizability and establishes valuation allowances based on available evidence including historical operating losses, projected future taxable income, expected timing of the reversals of existing temporary differences, and appropriate tax planning strategies. If the Company’s assessment of the realizability of a deferred tax asset changes, an increase to a valuation allowance will result in a reduction of net earnings at that time, while the reduction of a valuation allowance will result in an increase of net earnings at that time. The Company follows ASC Topic 740-10-65-1 in accounting for uncertainty in income taxes by prescribing rules for recognition, measurement and classification in financial statements of tax positions taken or expected to be in a tax return. This prescribes a two-step process for the financial statement measurement and recognition of a tax position. The first step involves the determination of whether it is more likely than not (greater than 50 percent likelihood) that a tax position will be sustained upon examination, based on the technical merits of the position. The second step requires that any tax position that meets the more likely than not recognition threshold be measured and recognized in the financial statements at the largest amount of benefit that is a greater than 50 percent likelihood of being realized upon ultimate settlement. This topic also provides guidance on the accounting for related interest and penalties, financial statement classification and disclosure. The Company’s policy is that any interest or penalties related to uncertain tax positions are recognized in income tax expense when incurred. The Company has no uncertain tax positions or related interest or penalties requiring accrual at December 31, 2022 and 2021. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Foreign Currency Translation	Foreign Currency Translation The financial statements of the Company’s subsidiary operating in Mexico are prepared to conform to U.S. GAAP and translated into U.S. Dollars by applying a current exchange rate. The local currency has been determined to be the functional currency. Assets and liabilities of non-U.S. operations are translated at period-end exchange rates. Items appearing in the consolidated statements of operations are translated using average exchange rates during each period. Translation gains and losses are reported in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit).
Deferred Financing Costs and Debt Discount	Deferred Financing Costs and Debt Discount Costs incurred in connection with obtaining certain financing are deferred and amortized on an effective interest method basis over the term of the related obligation. Debt discounts are also amortized using the effective interest method unless the interest method approximates the straight-line method. Amortization of such costs are included in interest expense, while the unamortized balances of deferred financing fees and debt discount are presented as reductions of the carrying value of the related debt.
Intangible Assets	Intangible Assets Intangible assets include the Company’s domain name and are accounted for based on ASC Topic 350, Intangibles – Goodwill and Other
Foreign Operations	Foreign Operations Operations outside the United States include a wholly-owned subsidiary in Mexico. Foreign operations are subject to risks inherent in operating under different legal systems and various political and economic environments. Among the risks are changes in existing tax laws, possible limitations on foreign investment and income repatriation, government price or foreign exchange controls, and restrictions on currency exchange.
Revenue Recognition	Revenue Recognition The Company’s revenues are accounted for under FASB ASC Topic 606, Revenue from Contracts with Customers FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Payment for the Company’s services is generally due within 30 to 45 days upon delivery of the shipment. Contracts entered into with customers do not contain material financing components. The Company’s contracts with customers have a duration of one year or less and do not require any significant start-up costs, and as such, costs incurred to obtain contracts associated with these contracts are expensed as incurred. Through the Company’s freight brokerage services, the Company is responsible for identifying and directing independent freight carriers to transport the shipper’s goods. The transportation of the loads is outsourced to third-party carriers. The Company is a principal in these arrangements, and therefore records revenue associated with these contracts on a gross basis. The Company controls the service and has primary responsibility to meet the customer’s requirements. The Company invoices and collects from its customers and also maintains discretion over pricing. Additionally, the Company is responsible for selection of third-party transportation providers to the extent used to satisfy customer freight requirements. At times, billing occurs subsequent to revenue recognition, resulting in an unbilled receivable which represents a contract asset. This contract asset is recorded as an unbilled receivable and presented on the consolidated balance sheets. The Company receives the unconditional right to bill when shipments are delivered to their destination.
Convertible Debt and Beneficial Conversion Features	Convertible Debt and Beneficial Conversion Features The Company evaluates embedded conversion features within convertible debt under ASC 815, Derivatives and Hedging Debt with Conversion and Other Options
Share-Based Compensation	Share-Based Compensation The Company accounts for share-based awards, including stock options and restricted stock awards, issued to employees in accordance with ASC Topic 718, Compensation—Stock Compensation Improvements to Nonemployee Share-Based payment Accounting For modification of stock compensation awards, the Company records the incremental fair value of the modified award as share-based compensation on the date of modification for vested awards or over the remaining vesting period for unvested awards. The incremental compensation is the excess of the fair value of the modified award on the date of modification over the fair value of the original award immediately before the modification. In addition, the Company records the remaining unrecognized compensation cost for the original cost for the original award on the modification date over the remaining vesting period for unvested awards. The Company estimates the expected term of stock options granted to employees using the simplified method, whereby the expected term equals the average of the vesting term and the original contractual term of the option. The Company utilizes this method as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. For stock options granted to non-employees, the contractual term of the option is utilized as the basis for the expected term assumption. All other assumptions used to calculate the grant date fair value are generally consistent with the assumptions used for options granted to employees. For purposes of calculating share-based compensation, the Company estimates the fair value of stock options using a Black-Scholes option-pricing model. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) The determination of the fair value of share-based payment awards utilizing the Black-Scholes model is affected by the Company’s stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. The expected volatility is primarily based on the historical volatility of peer company data while the expected life of the stock options is based on historical and other economic data trended into the future. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding to the expected option term. The dividend yield assumption is based on the Company’s history and expectation of no dividend payouts. If factors change and the Company employs different assumptions, share-based compensation expense may differ significantly from what has been recorded in the past. If there is a difference between the assumptions used in determining share-based compensation expense and the actual factors which become known over time, specifically with respect to anticipated forfeitures, the Company may change the input factors used in determining share-based compensation costs for future grants. These changes, if any, may materially impact the Company’s results of operations in the period such changes are made. Incremental compensation costs arising from subsequent modifications of awards after the grant date are recognized when incurred. In addition, the Company accounts for forfeitures of awards as they occur. For share-based awards that vest based on performance conditions, expense is recognized when it is probable that the conditions will be met.
Earnings Per Share	Earnings Per Share Basic earnings (loss) per share is computed by dividing net income (loss) available to ordinary shareholders by the weighted average number of outstanding ordinary shares for the period, considering the effect of securities series A and B preferred stock and series seed preferred stock. Diluted earnings (loss) per share is calculated by dividing net earnings (loss) by the weighted average number of ordinary shares and dilutive ordinary shares equivalents outstanding. During the periods when they are anti-dilutive, ordinary share equivalents, if any, are not considered in the computation. At December 31, 2022 and 2021, there were 636,710 88,961
Segments	Segments Operating segments are defined as components of an entity for which separate financial information is available. The Chief Operating Decision Maker (“CODM”) reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one operating and one reportable segment. The Company presents financial information about its operating segment and geographical areas in Note 16 to the consolidated financial statements.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company”, as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Further, Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. Private companies are those companies that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as Further, Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. Private companies are those companies that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised, it adopts the new or revised standard at the time private companies adopt the new or revised standard, unless it chooses to early-adopt the new or revised accounting standard. Therefore, the Company’s consolidated financial statements may not be comparable to certain public companies.
Reclassification	Reclassification Certain reclassifications, not affecting previously reported net loss, have been made to the previously issued consolidated financial statements to conform to the current year presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the guidance on the issuer’s accounting for convertible debt instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, unless certain other conditions are met. The elimination of these models will reduce reported interest expense and increase reported net income for entities that have issued a convertible instrument that was within the scope of those models before the adoption of ASU 2020-06. ASU 2020-06 also requires that the effect of potential share settlement be included in the diluted EPS calculation when an instrument may be settled in cash or share. This amendment removes current guidance that allows an entity to rebut this presumption if it has a history or policy of cash settlement. Furthermore, ASU 2020-06 requires the application of the if converted method for calculating diluted earnings per share, and the treasury stock method will be no longer available. In addition, ASU 2020-06 clarifies that an average market price should be used to calculate the diluted EPS denominator in cases in which the exercise prices may change on the basis of an entity’s share price or changes in the entity’s share price may affect the number of shares that may be used to settle a financial instrument and that an entity should use the weighted-average share count from each quarter when calculating the year-to-date weighted-average share. The provisions of ASU 2020-06 are applicable for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The adoption of this standard did not have a material impact to the Company’s consolidated financial statements, since all of the Company’s convertible debt were converted to equity as part of the Merger during the year ended December 31, 2022.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU No. 2020-04 provides guidance on optional expedients for a limited time to ease the operational burden in accounting for (or recognizing the effects of) reference rate reform (LIBOR) on financial reporting. In December 2022, the FASB issued ASU 2022-06 Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848 (ASU 2022-06), which extends the optional transition relief to ease the potential burden in accounting for reference rate reform on financial reporting. The transition relief is provided through December 31, 2024 based on the expectation that the LIBOR will cease to be published as of June 30, 2023. The amendments are effective prospectively at any point through December 31, 2024. The Company will continue to monitor new contracts that could potentially be eligible for contract modification relief through December 31, 2024. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) In September 2022, the FASB issued ASU No. 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,” which is intended to enhance the transparency surrounding the use of supplier finance programs. The guidance requires companies that use supplier finance programs to make annual disclosures about the program’s key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. Only the amount outstanding at the end of the period must be disclosed in interim periods. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The guidance becomes effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company does not have any supplier finance programs and does not believe the impact of adopting this accounting standard update will be material to the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2022
Accounting Policies [Abstract]
SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT	SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT Useful Lives Equipment 3 Furniture 7 Leasehold improvements Shorter of useful life of asset or lease term

MERGER (Tables)

MERGER (Tables)	12 Months Ended
MERGER (Tables)	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
SCHEDULE OF SECURITIES ISSUED IN MERGER	SCHEDULE OF SECURITIES ISSUED IN MERGER Securities Issued in Merger Issued at Merger Ordinary Shares 257,766 * Series A2 Preferred Shares 1,264,360 Series A1A Preferred Shares 4,473,547 Series Seed Preferred Shares 7,020 Series B Preferred Shares 7,389,850 Series A4 Preferred Shares 568,930 Ordinary Shares Warrants 522 * Series Seed Warrants 4,165 Equity Awards for Ordinary Shares 195,829 * Total Securities Issued in Merger 14,161,989
SCHEDULE OF MERGER	SCHEDULE OF MERGER Cash – PIPE 3,500,000 Cash – Issuance of ordinary shares 1,356,178 Conversion of convertible promissory notes, net of discount 7,878,025 Transaction costs (3,449,177 ) Warrant liability, net of discount 3,440,144 Hudson Capital equity as of Merger 2,429,948 Total 15,155,118

CAPITALIZED SOFTWARE (Tables)

CAPITALIZED SOFTWARE (Tables)	12 Months Ended
CAPITALIZED SOFTWARE (Tables)	Dec. 31, 2022
Capitalized Software
SCHEDULE OF CAPITALIZED SOFTWARE	Capitalized software consists of the following at: SCHEDULE OF CAPITALIZED SOFTWARE December 31, 2022 December 31, 2021 Capitalized software $ 3,178,850 $ 2,548,817 Accumulated amortization (2,428,995 ) (2,203,548 ) Net carrying amount 749,855 345,269 Capitalized software in-process - 245,733 Capitalized software, net $ 749,855 $ 591,002
SCHEDULE OF ESTIMATED AMORTIZATION CAPITALIZED SOFTWARE	Estimated amortization for capitalized software for future periods is as follows: SCHEDULE OF ESTIMATED AMORTIZATION CAPITALIZED SOFTWARE Year Ended 2023 $ 313,975 2024 248,125 2025 187,755 Total $ 749,855

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
PROPERTY AND EQUIPMENT (Tables)	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT, NET	Property and equipment consist of the following at: SCHEDULE OF PROPERTY AND EQUIPMENT, NET December 31, 2022 December 31, 2021 Equipment $ 84,806 $ 92,873 Furniture and fixtures 9,517 9,517 Leasehold improvements - 4,759 Total cost 94,323 107,149 Accumulated depreciation (66,716 ) (53,700 ) Property and equipment, net $ 27,607 $ 53,449

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
ACCRUED EXPENSES (Tables)	Dec. 31, 2022
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	Accrued expenses consist of the following at: SCHEDULE OF ACCRUED EXPENSES December 31, 2022 December 31, 2021 Accrued freight costs $ 947,372 $ 603,332 Accrued payroll 416,039 289,408 Accrued value added tax 386,083 30,374 Accrued professional services 41,554 12,466 Other accrued liabilities 3,527 3,527 Total accrued expenses $ 1,794,575 $ 939,107

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
SHARE-BASED COMPENSATION (Tables)	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF STOCK OPTION ASSUMPTIONS FOR GRANTS	The fair value of options and share awards granted under the stock option plan during the year ended December 31, 2022 and 2021 was estimated at the date of grant using the Black-Scholes option pricing model and the following assumptions for grants: SCHEDULE OF STOCK OPTION ASSUMPTIONS FOR GRANTS 2022 2021 Risk-free interest rates 0.986% 3.44 % 0.986 % Expected life of options 5 5 Expected volatility 73.62% 83.45 % 78.50 % Expected dividend yield 0.00 % 0.00 %
SUMMARY OF STOCK OPTION ACTIVITY	The following table summarizes stock option activity: SUMMARY OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Balance at January 1, 2021 90,290 $ 4.34 Granted 68,346 25.21 Forfeited/Expired (510 ) 4.34 Exercised - - Balance at December 31, 2021 158,126 13.36 6.58 854,217 Granted 334,773 17.90 Forfeited/Expired (57,714 ) 14.80 Exercised (43,642 ) 4.34 Balance at December 31, 2022 391,543 18.02 9.11 $ - Exercisable at December 31, 2022 66,193 16.80 7.69 $ -
SUMMARY OF NON-VESTED STOCK OPTION	The following table summarizes the Company’s non-vested stock options. SUMMARY OF NON-VESTED STOCK OPTION Non-vested Options Outstanding Weighted-Average Grant Date Fair Value At January 1, 2021 38,203 $ 3.28 Options granted 68,346 4.53 Options forfeited/cancelled (510 ) 3.28 Options exercised - - Options vested (36,019 ) 5.03 At December 31, 2021 70,020 5.88 Options granted 334,773 10.88 Options forfeited/cancelled (53,808 ) 7.77 Options exercised - - Options vested (25,635 ) 3.80 At December 31, 2022 325,350 $ 10.30
SUMMARY OF RESTRICTED STOCK AWARDS	The following table summarizes the restricted stock awards activity: SUMMARY OF RESTRICTED STOCK AWARDS Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Share Outstanding at January 1, 2021 - $ - Granted 10,110 13.87 Forfeited (228 ) 13.87 Exercised - - Vested (4,534 ) 13.87 Outstanding at December 31, 2021 5,288 13.87 Granted 23,732 17.53 Forfeited - - Exercised - - Vested (26,031 ) 16.77 Outstanding at December 31, 2022 2,989 $ 13.87

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	12 Months Ended
CONVERTIBLE DEBT (Tables)	Dec. 31, 2022
Debt Disclosure [Abstract]
SCHEDULE OF CONVERTIBLE NOTES PAYABLE	The aggregate balance of the convertible notes payable is as follows at: SCHEDULE OF CONVERTIBLE NOTES PAYABLE December 31, 2022 December 31, 2021 Convertible notes payable $ - $ 7,613,292 Accrued interest - 356,238 Less: unamortized deferred financing costs - (19,158 ) Less: unamortized discount - (92,793 ) Convertible note payable, net $ - $ 7,857,579

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
NOTES PAYABLE (Tables)	Dec. 31, 2022
Notes Payable
SCHEDULE OF NOTE PAYABLE	The aggregate balance of the notes payable is as follows at: SCHEDULE OF NOTE PAYABLE December 31, 2022 December 31, 2021 Notes payable $ - $ 2,650,000 Less: unamortized discount - (2,203,226 ) Notes payable, net $ - $ 446,774

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2022
Income Tax Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE	Income tax expense consists of the following components: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE December 31, 2022 December 31, 2021 Current Federal $ - $ - State 41,401 - Foreign 49,110 40,264 Total Current 90,511 40,264 - - Deferred Federal $ - $ - State - - Total Deferred - - Income tax expense $ 90,511 $ 40,264
SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES	The Company’s provision for income taxes for the years ended December 31, 2022 and 2021 is based on the estimated annual effective tax rate, plus discrete items. The following table presents the provision for income taxes and the effective tax rates for years ended December 31, 2022 and 2021: SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES December 31, 2022 December 31, 2021 Loss before income tax provision $ (8,096,671 ) $ (8,160,541 ) Income tax provision 90,511 40,264 Effective tax rate -1.12 % -0.49 %
SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE	Reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate is as follows: FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2022 AND 2021 NOTE 14 – INCOME TAXES (CONTINUED) SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE December 31, 2022 December 31, 2021 Income tax expense (benefit) at federal statutory rate $ (1,700,301 ) 21.00 % $ (1,713,714 ) 21.00 % State and local income taxes net of federal tax benefits (17,442 ) 0.12 % (21,754 ) 0.27 % Return to provision adjustments (140,374 ) 1.73 % 5,119 -0.06 % Other adjustments to deferred 1,051,874 -12.99 % - - Change in valuation allowance 720,407 -8.90 % 2,295,280 -28.13 % Permanent differences 166,816 -2.06 % (528,281 ) 6.47 % Other– net 9,531 -0.12 % 3,614 -0.04 % Income tax expense $ 90,511 -1.12 % $ 40,264 -0.49 %
SCHEDULE OF DEFERRED TAX ASSET	Temporary differences which give rise to a significant portion of deferred tax assets are as follows: SCHEDULE OF DEFERRED TAX ASSET December 31, 2022 December 31, 2021 Accrued expenses $ 65,011 $ 214,397 Fixed and intangible assets (54,219 ) (75,900 ) Allowance for doubtful accounts 13,885 16,678 Warrant amortization 211,142 96,165 Net operating loss - Federal 5,328,850 4,648,504 Net operating loss - States 189,695 134,112 Deferred tax asset, gross 5,754,364 5,033,956 Less: Valuation allowance (5,754,364 ) (5,033,956 ) Net deferred tax asset $ - $ -

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
SEGMENT INFORMATION (Tables)	Dec. 31, 2022
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT LONG-LIVED ASSETS	SCHEDULE OF SEGMENT LONG-LIVED ASSETS December 31, 2022 December 31, 2021 United States $ 262,764 $ 369,706 Mexico 540,036 290,548 Total long-lived assets $ 802,800 $ 660,254
SCHEDULE OF REVENUE BY GEOGRAPHIC AREA OF CUSTOMERS	The following table summarizes the Company’s total revenue by geographic area based on the billing address of the customers: SCHEDULE OF REVENUE BY GEOGRAPHIC AREA OF CUSTOMERS 2022 2021 Year Ended December 31, 2022 2021 United States $ 20,071,385 $ 20,156,744 Mexico 5,817,051 1,317,407 Total revenue $ 25,888,436 $ 21,474,151

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
WARRANTS (Tables)	Dec. 31, 2022
Short-Term Debt [Line Items]
SUMMARY OF FAIR VALUE AT GRANT DATE	The following assumptions were used when calculating the issuance date fair value: SUMMARY OF FAIR VALUE AT GRANT DATE Exercise price of the warrants $ 0.43 Expected life of the warrants 7 years Current value of the underlying share $ 25.10 Expected volatility 101.70 % Expected dividend yield 0.00 % Risk-free interest rates 0.22 %
SUMMARY OF WARRANT ACTIVITY	The table below summarizes the Company’s warrant activities: SUMMARY OF WARRANT ACTIVITY Number of Ordinary Shares Warrants () Number of Series A, B, C, D Warrants () Number of Series Seed Shares Warrants Number of Series A2 Preferred Shares Warrants Exercise Price Range Per Share Weighted Average Exercise Price Balance at December 31, 2020 522 - 4,165 441,605 $ 0.43 86.71 $ 0.70 Forfeited - - - - - - Exercised - - - (441,605 ) 0.43 0.43 Balance at December 31, 2021 522 - 4,165 - 18.00 86.71 25.65 Granted 210,000 845,046 - - 0.01 33.00 19.39 Forfeited - - - - - - Converted - (51,334 ) - - 16.50 33.00 21.00 Exercised (210,000 ) - - - 0.01 0.01 Balance at December 31, 2022 522 793,712 4,165 - $ 16.50 86.71 $ 24.42 (*) Only ordinary shares were adjusted in the March 24, 2023 reverse stock split.
September Promissory Note [Member]
Short-Term Debt [Line Items]
SUMMARY OF FAIR VALUE AT GRANT DATE	The following assumptions were used when calculating the fair value of the A3 Warrants: SUMMARY OF FAIR VALUE AT GRANT DATE 2022 2021 Exercise price of the warrants $ 0.01 1.125 $ 0.01 1.125 Expected life of the warrants 0.01 6.59 0.3 7 Current value of the underlying Series A3 Preferred Stock $ 0.77 $ 0.75 0.82 Expected volatility 28.3 66.2 % 58.5 71.3 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rates 0.05 2.02 % 0.02 1.44 %
December Promissory Note [Member]
Short-Term Debt [Line Items]
SUMMARY OF FAIR VALUE AT GRANT DATE	The following assumptions were used when calculating the fair value of the A3 Warrants: SUMMARY OF FAIR VALUE AT GRANT DATE 2022 2021 Exercise price of the warrants $ 0.01 1.125 $ 0.01 1.125 Contractual life of the warrants 0.01 6.88 0.3 7 Current value of the underlying Series A3 Preferred Stock $ 0.77 $ 0.80 Expected volatility 28.3 65.3 % 66.6 71.3 % Expected dividend yield 0.00 % 0.00 % Risk-free interest rates 0.05 2.01 % 0.02 1.44 %
February Promissory Note [Member]
Short-Term Debt [Line Items]
SUMMARY OF FAIR VALUE AT GRANT DATE	The following assumptions were used when calculating the fair value of the Series A, B, C and D Warrants: SUMMARY OF FAIR VALUE AT GRANT DATE Exercise price of the warrants $ 16.50 33.00 Contractual life of the warrants 7 years Current value of the underlying share $ 26.30 Expected volatility 88.05 % Expected dividend yield 0.00 % Risk-free interest rates 1.98 %

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)	12 Months Ended
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
SCHEDULE OF PREFERRED STOCK ISSUED	The different classes of preferred stock issued are set forth below: SCHEDULE OF PREFERRED STOCK ISSUED December 31, 2022 December 31, 2021 Series Seed Preferred Shares 7,020 7,020 Series A1A Preferred Shares 3,884,256 4,473,547 Series A2 Preferred Shares 1,195,904 1,264,360 Series A4 Preferred Shares 1,854,644 - Series B Preferred Shares 7,507,845 1,716,888 * * Total 14,449,669 7,461,815
Prior Merger [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED	Prior to the closing of the Merger with Hudson, Fr8App’s authorized capitalization under its charter (“Charter”) consisted of the following (at a par value per share of $0.00001): SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED Ordinary Shares 6,843,703 Non-Voting Common Shares 8,000 Ordinary Shares, authorized 8,000 Series Seed Preferred Shares 19,958 Series A1A Preferred Shares 7,991,078 Series A1B Preferred Shares 3,167,474 Series A2 Preferred Shares 2,258,521 Series A3 Preferred Shares 46,000,000 Series A4 Preferred Shares 1,000,000
Post Merger [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED	The Company is authorized under the MAA as amended, to issue an unlimited number of shares divided as follows: SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED Number of Shares Par Value Per Share Ordinary Shares Unlimited $ 0.11 Series Seed Preferred Shares 25,000 $ 0.0001 Series A1A Preferred Shares 10,000,000 $ 0.0001 Series A2 Preferred Shares 3,000,000 $ 0.0001 Series A4 Preferred Shares 17,500,000 $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares 1,000,000 None

LIQUIDITY AND GOING CONCERN (De

LIQUIDITY AND GOING CONCERN (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retained Earnings (Accumulated Deficit)	$ 29,987,945	$ 21,800,763
Shareholders' equity	3,131,463	(8,971,492)	$ (1,147,016)
[custom:WorkingCapital-0]	2,200,000
Debt, Current	3,300,000
Cash and Cash Equivalents, at Carrying Value	$ 1,013,000	$ 3,152,993

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT (Details)	12 Months Ended
	Dec. 31, 2022
Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives, description	Shorter of useful life of asset or lease term

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Product Information [Line Items]
Federal deposit insurance corporation	$ 250,000
Insured limits	449,991	$ 2,661,919
Allowance for credit losses	171,009	77,483
Advertising costs	$ 43,299	$ 421
Ordinary share equivalents	636,710	88,961
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer One [Member]
Product Information [Line Items]
Concentration risk, percentage	42%	35%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer Two [Member]
Product Information [Line Items]
Concentration risk, percentage	16%	15%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Customer One [Member]
Product Information [Line Items]
Concentration risk, percentage	17%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Customer Two [Member]
Product Information [Line Items]
Concentration risk, percentage	11%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| One Customers [Member]
Product Information [Line Items]
Concentration risk, percentage		37%

SCHEDULE OF SECURITIES ISSUED I

SCHEDULE OF SECURITIES ISSUED IN MERGER (Details) - Hudson Capital [Member]	Feb. 14, 2022 shares
Business Acquisition [Line Items]
Total Securities Issued in Merger	14,161,989
Series A2 Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	1,264,360
Series A 1A Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	4,473,547
Series Seed Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	7,020
Series B Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	7,389,850
Series A4 Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	568,930
Series Seed Warrants [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	4,165
Equity Awards for Ordinary Shares [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	195,829	[1]
Common Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	257,766	[1]
Warrant [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	522	[1]

[1]Only ordinary shares were adjusted in the March 24, 2023 reverse stock split.

SCHEDULE OF MERGER (Details)

SCHEDULE OF MERGER (Details) - Fr8 App [Member]	Feb. 09, 2022 USD ($)
Business Acquisition [Line Items]
Cash – PIPE	$ 3,500,000
Cash – Issuance of ordinary shares	1,356,178
Conversion of convertible promissory notes, net of discount	7,878,025
Transaction costs	(3,449,177)
Warrant liability, net of discount	3,440,144
Hudson Capital equity as of Merger	2,429,948
Total	$ 15,155,118

MERGER (Details Narrative)

MERGER (Details Narrative) - USD ($)					12 Months Ended
MERGER (Details Narrative) - USD ($)	Dec. 31, 2022	Oct. 27, 2022	Feb. 09, 2022	Dec. 17, 2021	Dec. 31, 2022	Nov. 07, 2022	Oct. 28, 2022	Dec. 29, 2021	Sep. 16, 2021
Business Acquisition [Line Items]
Stock issued, shares	547,445	40,000
Warrants to purchase shares		63,000				126,000	21,000
Aggregate purchase price		$ 1,002,100		$ 191,466	$ 2,100
Series B Preferred Stock [Member]
Business Acquisition [Line Items]
Warrants to purchase shares								2,376,439	1,891,928
Series B Preferred Stock [Member] \| Private Investment In Public Equity Investor [Member]
Business Acquisition [Line Items]
Aggregate purchase price			$ 3,500,000
Series A Warrant [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			738,985
Series B Warrant [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			738,985
Series C Warrant [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			738,985
Series D Warrant [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			738,985
Security Purchase Agreement [Member] \| Series B Preferred Stock [Member]
Business Acquisition [Line Items]
Stock issued, shares			1,060,606
Security Purchase Agreement [Member] \| Series A Warrants [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			106,061
Fr 8 Apps Convertible Notes Payable [Member]
Business Acquisition [Line Items]
Convertible promissory notes			$ 7,965,626

RESTRICTED CASH IN ESCROW (Deta

RESTRICTED CASH IN ESCROW (Details Narrative)	Dec. 31, 2021 USD ($)
Receivables [Abstract]
Restricted Cash	$ 175,000

SCHEDULE OF CAPITALIZED SOFTWAR

SCHEDULE OF CAPITALIZED SOFTWARE (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Capitalized Software
Capitalized software	$ 3,178,850	$ 2,548,817
Accumulated amortization	(2,428,995)	(2,203,548)
Net carrying amount	749,855	345,269
Capitalized software in-process		245,733
Capitalized software, net	$ 749,855	$ 591,002

SCHEDULE OF ESTIMATED AMORTIZAT

SCHEDULE OF ESTIMATED AMORTIZATION CAPITALIZED SOFTWARE (Details)	Dec. 31, 2022 USD ($)
Capitalized Software
2023	$ 313,975
2024	248,125
2025	187,755
Total	$ 749,855

CAPITALIZED SOFTWARE (Details N

CAPITALIZED SOFTWARE (Details Narrative) - USD ($)	12 Months Ended
CAPITALIZED SOFTWARE (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Capitalized Software
Amortization expense	$ 225,447	$ 285,069

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total cost	$ 94,323	$ 107,149
Accumulated depreciation	(66,716)	(53,700)
Property and equipment, net	27,607	53,449
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost	84,806	92,873
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total cost	9,517	9,517
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total cost		$ 4,759

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 17,887	$ 16,130

SCHEDULE OF ACCRUED EXPENSES (D

SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued freight costs	$ 947,372	$ 603,332
Accrued payroll	416,039	289,408
Accrued value added tax	386,083	30,374
Accrued professional services	41,554	12,466
Other accrued liabilities	3,527	3,527
Total accrued expenses	$ 1,794,575	$ 939,107

SCHEDULE OF STOCK OPTION ASSUMP

SCHEDULE OF STOCK OPTION ASSUMPTIONS FOR GRANTS (Details)	12 Months Ended
SCHEDULE OF STOCK OPTION ASSUMPTIONS FOR GRANTS (Details)	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Risk-free interest rates, minimum	0.986%
Risk-free interest rates, maximum	3.44%
Risk-free interest rates		0.986%
Expected life of options	5 years	5 years
Expected volatility, minimum	73.62%
Expected volatility, maximum	83.45%
Expected volatility		78.50%
Expected dividend yield	0%	0%

SUMMARY OF STOCK OPTION ACTIVIT

SUMMARY OF STOCK OPTION ACTIVITY (Details) - USD ($)	12 Months Ended
SUMMARY OF STOCK OPTION ACTIVITY (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Number of Options, Beginning	158,126	90,290
Weighted Average Exercise Price, Beginning Balance	$ 13.36	$ 4.34
Number of Options, Granted	334,773	68,346
Weighted Average Exercise Price Options, Granted	$ 17.90	$ 25.21
Number of Options, Forfeited/Expired	(57,714)	(510)
Weighted Average Exercise Price Options, Forfeited/Expired	$ 14.80	$ 4.34
Number of Options, Exercised	(43,642)
Weighted Average Exercise Price Options, Exercised	$ 4.34
Weighted Average Remaining Contractual Term, Ending Balance	9 years 1 month 9 days	6 years 6 months 29 days
Aggregate intrinsic value, beginning balance	$ 854,217
Number of options, ending	391,543	158,126
Weighted Average Exercise Price, Ending Balance	$ 18.02	$ 13.36
Aggregate intrinsic value, ending balance		$ 854,217
Number of Options, Exercisable	66,193
Weighted Average Exercise Price, Exercisable	$ 16.80
Weighted Average Remaining Contractual Term, Exercisable	7 years 8 months 8 days
Aggregate intrinsic value, exercisable, ending balance

SUMMARY OF NON-VESTED STOCK OPT

SUMMARY OF NON-VESTED STOCK OPTION (Details) - $ / shares	12 Months Ended
SUMMARY OF NON-VESTED STOCK OPTION (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Non-vested Options Outstanding, Beginning Balance	70,020	38,203
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 5.88	$ 3.28
Non-vested Options Outstanding, Options granted	334,773	68,346
Weighted-Average Grant Date Fair Value, options granted	$ 10.88	$ 4.53
Non-vested Options Outstanding, Options forfeited/cancelled	(53,808)	(510)
Weighted-Average Grant Date Fair Value, Options forfeited/cancelled	$ 7.77	$ 3.28
Non-vested Options Outstanding, Options exercised
Weighted-Average Grant Date Fair Value, Options exercised
Non-vested Options Outstanding, Options vested	(25,635)	(36,019)
Weighted-Average Grant Date Fair Value, Options vested	$ 3.80	$ 5.03
Non-vested Options Outstanding, Ending Balance	325,350	70,020
Weighted-Average Grant Date Fair Value, Ending Balance	$ 10.30	$ 5.88

SUMMARY OF RESTRICTED STOCK AWA

SUMMARY OF RESTRICTED STOCK AWARDS (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted Stock Awards, Beginning Balance	5,288
Weighted-Average Grant Date Fair Value Per Share, Beginning Balance	$ 13.87
Restricted Stock Awards, Granted	23,732	10,110
Weighted-Average Grant Date Fair Value Per Share, Granted	$ 17.53	$ 13.87
Restricted Stock Awards, Forfeited		(228)
Weighted-Average Grant Date Fair Value Per Share, Forfeited		$ 13.87
Restricted Stock Awards, Exercised
Weighted-Average Grant Date Fair Value Per Share, Exercised
Restricted Stock Awards, Vested	(26,031)	(4,534)
Weighted-Average Grant Date Fair Value Per Share, Vested	$ 16.77	$ 13.87
Restricted Stock Awards, Ending Balance	2,989	5,288
Weighted-Average Grant Date Fair Value Per Share, Ending Balance	$ 13.87	$ 13.87

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	12 Months Ended
SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation expense	$ 555,156	$ 171,500
Unrecognized share-based compensation expense	$ 3,418,134
Weighted average term expected to recognized	4 years
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of option will be granted	23,732	10,110
Stock compensation expense	$ 449,236	$ 63,904
Unrecognized share-based compensation expense	$ 40,183
Weighted average term RSA	3 years
Stock Incentive Plan [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of option will be granted	1,000,000

SHORT-TERM BORROWINGS (Details

SHORT-TERM BORROWINGS (Details Narrative) - USD ($)		12 Months Ended
SHORT-TERM BORROWINGS (Details Narrative) - USD ($)	Jul. 12, 2022	Dec. 31, 2022	Dec. 31, 2021	Mar. 07, 2019
Line of Credit Facility [Line Items]
Interest expense		$ 907,013	$ 1,136,096
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit principal amount withdrawn	$ 5,000,000
Debt Instrument, Interest Rate, Stated Percentage				3.25%
Line of credit interest rate		7.50%
Line of credit maturity date		Jul. 31, 2023
Interest expense		$ 382,655	$ 263,788

PAYCHECK PROTECTION PROGRAM __2

PAYCHECK PROTECTION PROGRAM – LONG TERM (Details Narrative) - USD ($)	Mar. 22, 2021	May 06, 2020
Ppp Loan [Member]
Short-Term Debt [Line Items]
Proceeds from loans		$ 114,700
Debt maturity date		May 06, 2022
Interest rate		1%
Debt principal amount	$ 114,700
Accrued interest	978
Paycheck Protection Program [Member]
Short-Term Debt [Line Items]
Debt forgivness	$ 115,725

SCHEDULE OF CONVERTIBLE NOTES P

SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Convertible notes payable		$ 2,650,000
Less: unamortized discount		(2,203,226)
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Convertible notes payable		7,613,292
Accrued interest		356,238
Less: unamortized deferred financing costs		(19,158)
Less: unamortized discount		(92,793)
Convertible note payable, net		$ 7,857,579

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)				12 Months Ended
CONVERTIBLE DEBT (Details Narrative) - USD ($)	Dec. 31, 2022	Oct. 27, 2022	Oct. 07, 2020	Dec. 31, 2022	Dec. 31, 2021	Jul. 31, 2021	May 31, 2021	Jan. 31, 2021
Short-Term Debt [Line Items]
Number of common shares issued upon agreement	547,445	40,000
Amortization of debt discount				$ 515,625	$ 446,774
Conversion of notes				2,432,430
Principal amount					2,650,000
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Principal amount					7,613,292
Accrued interest on notes					$ 356,238
Convertible Notes Payable [Member] \| Series B Preferred Stock [Member]
Short-Term Debt [Line Items]
Shares issued on conversion, shares					4,049,887
Conversion of notes					$ 7,965,626
Principal amount					7,613,292
Accrued interest on notes					352,334
Convertible Debt [Member]
Short-Term Debt [Line Items]
Interest expense, debt				0	312,426
Amortization of convertible debt issuance costs				4,166	24,996
Amortization of debt discount				$ 20,184	$ 121,104
2020 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt instrument principal amount			$ 4,004,421
Debt instrument, term			2 years
Annual Interest rate			5%
Number of common shares issued upon agreement			103,124
Debt instrument discount			$ 242,219
2020 Bridge Notes [Member] \| Minimum [Member]
Short-Term Debt [Line Items]
Debt discount price per share			20%
2020 Bridge Notes [Member] \| Maximum [Member]
Short-Term Debt [Line Items]
Debt discount price per share			25%
2020 Bridge Notes [Member] \| Lender [Member]
Short-Term Debt [Line Items]
Debt transaction fees			$ 50,000
2021 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt instrument principal amount						$ 1,000,000	$ 1,608,842	$ 1,000,000
Annual Interest rate					5%
Debt instrument, maturity date					Oct. 07, 2022

SCHEDULE OF NOTE PAYABLE (Detai

SCHEDULE OF NOTE PAYABLE (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Notes Payable
Notes payable		$ 2,650,000
Less: unamortized discount		(2,203,226)
Notes payable, net		$ 446,774

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)								12 Months Ended
NOTES PAYABLE (Details Narrative) - USD ($)	Dec. 31, 2022	Oct. 27, 2022	May 24, 2022	Feb. 14, 2022	Dec. 29, 2021	Dec. 17, 2021	Sep. 16, 2021	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Change in fair value of warrant liabilities									$ 497,759
Net proceeds								$ 400,000	2,620,000
New issues		$ 1,002,100				$ 191,466		2,100
Issuance of ordinary shares from conversion and exercise of warrants, shares	547,445	40,000
Amortization of debt discount								$ 515,625	446,774
September Promissory Note [Member]
Short-Term Debt [Line Items]
Debt instrument face amount							$ 1,500,000
Maturity date							Sep. 16, 2022
Interest rate							17%
Fair value adjustment of warrants							$ 2,692,396
Debt instrument unamortized discount							1,500,000
Change in fair value of warrant liabilities				$ 56,758			$ 1,192,396
First December Promissory Note [Member]
Short-Term Debt [Line Items]
Debt instrument face amount					$ 200,000
Maturity date					Aug. 29, 2022
Interest rate					33%
Debt instrument unamortized discount					$ 30,000
Net proceeds					$ 170,000
Second December Promissory Note [Member]
Short-Term Debt [Line Items]
Maturity date					Sep. 28, 2022
Interest rate					17%
Loss on issuance of warrants					$ 950,000
December Promissory Note [Member]
Short-Term Debt [Line Items]
Fair value adjustment of warrants					2,756,669
Debt instrument unamortized discount					1,120,000
Change in fair value of warrant liabilities				$ 71,293	$ 1,636,669				$ 1,636,669
Promissory Note [Member]
Short-Term Debt [Line Items]
Services amount			$ 900,000
New issues			$ 400,000
Issuance of ordinary shares from conversion and exercise of warrants, shares			25,000
Four installments			$ 100,000

SCHEDULE OF COMPONENTS OF INCOM

SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal
State	41,401
Foreign	49,110	40,264
Total Current	90,511	40,264
Federal
State
Total Deferred
Income tax expense	$ 90,511	$ 40,264

SCHEDULE OF PROVISION AND EFFEC

SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Loss before income tax provision	$ (8,096,671)	$ (8,160,541)
Income tax provision	$ 90,511	$ 40,264
Effective tax rate	(1.12%)	(0.49%)

SCHEDULE OF RECONCILIATION EFFE

SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at federal statutory rate	$ (1,700,301)	$ (1,713,714)
Income tax expense (benefit) at federal statutory rate	21%	21%
State and local income taxes net of federal tax benefit	$ (17,442)	$ (21,754)
State and local income taxes net of federal tax benefit	0.12%	0.27%
Return to provision adjustments	$ (140,374)	$ 5,119
Return to provision adjustments	1.73%	(0.06%)
Other adjustments to deferred	$ 1,051,874
Other adjustments to deferred	(12.99%)
Change in valuation allowance	$ 720,407	$ 2,295,280
Change in valuation allowance	(8.90%)	(28.13%)
Permanent differences	$ 166,816	$ (528,281)
Permanent differences	(2.06%)	6.47%
Other - net	$ 9,531	$ 3,614
Other - net	(0.12%)	(0.04%)
Income tax expense (benefit)	$ 90,511	$ 40,264
Income tax expense (benefit)	(1.12%)	(0.49%)

SCHEDULE OF DEFERRED TAX ASSET

SCHEDULE OF DEFERRED TAX ASSET (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Accrued expenses	$ 65,011	$ 214,397
Fixed and intangible assets	(54,219)	(75,900)
Allowance for doubtful accounts	13,885	16,678
Warrant amortization	211,142	96,165
Net operating loss - Federal	5,328,850	4,648,504
Net operating loss - States	189,695	134,112
Deferred tax asset, gross	5,754,364	5,033,956
Less: Valuation allowance	(5,754,364)	(5,033,956)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
INCOME TAXES (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Nondeductible tax expenses	21%	21%
Federal net operating losses	$ 25,375,000	$ 17,817,000
Net operating losses expiration, description	NOLs expire from 2035 to 2042
Net operating loss estimated	$ 4,103,000

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	1 Months Ended			12 Months Ended
LEASES (Details Narrative) - USD ($)	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2020	Dec. 31, 2022	Dec. 31, 2021
Leases
Operating lease, term of contract	12 months	12 months	12 months
Lease expiration date	Nov. 01, 2023	Oct. 31, 2022	Oct. 31, 2021
Rent expense				$ 118,000	$ 110,000

SCHEDULE OF SEGMENT LONG-LIVED

SCHEDULE OF SEGMENT LONG-LIVED ASSETS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 802,800	$ 660,254
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	262,764	369,706
MEXICO
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 540,036	$ 290,548

SCHEDULE OF REVENUE BY GEOGRAPH

SCHEDULE OF REVENUE BY GEOGRAPHIC AREA OF CUSTOMERS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 25,888,436	$ 21,474,151
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	20,071,385	20,156,744
MEXICO
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 5,817,051	$ 1,317,407

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Freight Services [Member]
Related Party Transaction [Line Items]
Revenues	$ 0	$ 99,000

SUMMARY OF FAIR VALUE AT GRANT

SUMMARY OF FAIR VALUE AT GRANT DATE (Details)	Dec. 31, 2022 $ / shares	Dec. 29, 2022 $ / shares	Nov. 07, 2022 $ / shares	Oct. 28, 2022 $ / shares	Oct. 27, 2022 $ / shares	Feb. 09, 2022 $ / shares	Dec. 31, 2021 $ / shares	Dec. 29, 2021	Dec. 17, 2021 $ / shares	Sep. 16, 2021 $ / shares	Aug. 26, 2020 $ / shares
Exercise price of the warrants		$ 0.01			$ 0.01					$ 0.01
Current value of the underlying share			$ 0.01	$ 0.01	$ 0.01				$ 0.43
Risk- free interest rates								0.75
Measurement Input, Exercise Price [Member]
Exercise price of the warrants											$ 0.43
Measurement Input, Expected Term [Member]
Expected life of the warrants						7 years					7 years
Measurement Input, Share Price [Member]
Current value of the underlying share						$ 26.30					$ 25.10
Measurement Input, Price Volatility [Member]
Risk- free interest rates						88.05					101.70
Measurement Input, Expected Dividend Rate [Member]
Risk- free interest rates						0					0
Measurement Input, Risk Free Interest Rate [Member]
Risk- free interest rates						1.98					0.22
September Promissory Note [Member] \| Measurement Input, Share Price [Member]
Current value of the underlying share	$ 0.77
September Promissory Note [Member] \| Measurement Input, Expected Dividend Rate [Member]
Risk- free interest rates	0						0
December Promissory Note [Member] \| Measurement Input, Share Price [Member]
Current value of the underlying share	$ 0.77						$ 0.80
December Promissory Note [Member] \| Measurement Input, Expected Dividend Rate [Member]
Risk- free interest rates	0						0
Minimum [Member] \| Measurement Input, Exercise Price [Member]
Exercise price of the warrants						$ 16.50
Minimum [Member] \| September Promissory Note [Member] \| Measurement Input, Exercise Price [Member]
Exercise price of the warrants	$ 0.01						$ 0.01
Minimum [Member] \| September Promissory Note [Member] \| Measurement Input, Expected Term [Member]
Expected life of the warrants	3 days						3 months 18 days
Minimum [Member] \| September Promissory Note [Member] \| Measurement Input, Share Price [Member]
Current value of the underlying share							$ 0.75
Minimum [Member] \| September Promissory Note [Member] \| Measurement Input, Price Volatility [Member]
Risk- free interest rates	28.3						58.5
Minimum [Member] \| September Promissory Note [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Risk- free interest rates	0.05						0.02
Minimum [Member] \| December Promissory Note [Member] \| Measurement Input, Exercise Price [Member]
Exercise price of the warrants	$ 0.01						$ 0.01
Minimum [Member] \| December Promissory Note [Member] \| Measurement Input, Expected Term [Member]
Expected life of the warrants	3 days						3 months 18 days
Minimum [Member] \| December Promissory Note [Member] \| Measurement Input, Price Volatility [Member]
Risk- free interest rates	28.3						66.6
Minimum [Member] \| December Promissory Note [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Risk- free interest rates	0.05							0.02
Maximum [Member] \| Measurement Input, Exercise Price [Member]
Exercise price of the warrants						$ 33
Maximum [Member] \| September Promissory Note [Member] \| Measurement Input, Exercise Price [Member]
Exercise price of the warrants	$ 1.125						$ 1.125
Maximum [Member] \| September Promissory Note [Member] \| Measurement Input, Expected Term [Member]
Expected life of the warrants	6 years 7 months 2 days						7 years
Maximum [Member] \| September Promissory Note [Member] \| Measurement Input, Share Price [Member]
Current value of the underlying share							$ 0.82
Maximum [Member] \| September Promissory Note [Member] \| Measurement Input, Price Volatility [Member]
Risk- free interest rates	66.2						71.3
Maximum [Member] \| September Promissory Note [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Risk- free interest rates	2.02						1.44
Maximum [Member] \| December Promissory Note [Member] \| Measurement Input, Exercise Price [Member]
Exercise price of the warrants	$ 1.125						$ 1.125
Maximum [Member] \| December Promissory Note [Member] \| Measurement Input, Expected Term [Member]
Expected life of the warrants	6 years 10 months 17 days						7 years
Maximum [Member] \| December Promissory Note [Member] \| Measurement Input, Price Volatility [Member]
Risk- free interest rates	65.3						71.3
Maximum [Member] \| December Promissory Note [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Risk- free interest rates	2.01						1.44

SUMMARY OF WARRANT ACTIVITY (De

SUMMARY OF WARRANT ACTIVITY (Details) - $ / shares		12 Months Ended
SUMMARY OF WARRANT ACTIVITY (Details) - $ / shares		Dec. 31, 2022	Dec. 31, 2021
Weighted average exercise price, beginning balance		$ 25.65	$ 0.70
Number of warrants, forfeited	[1]
Weighted average exercise price, forfeited
Number of series seed shares warrants, exercised	[1]
Weighted average exercise price, exercised		0.01	$ 0.43
Weighted average exercise price, granted		19.39
Weighted average exercise price, converted		21
Number of warrants, exercised	[1]
Weighted average exercise price, ending balance		24.42	$ 25.65
Minimum [Member]
Exercise price range per share, beginning balance		18	0.43
Exercise price range per share, exercised		16.50	18
Exercise price range per share, granted		0.01
Exercise price range per share, converted		16.50
Exercise price range per share, ending balance		16.50	18
Maximum [Member]
Exercise price range per share, beginning balance		86.71	86.71
Exercise price range per share, exercised		86.71	86.71
Exercise price range per share, granted		33
Exercise price range per share, converted		33
Exercise price range per share, ending balance		$ 86.71	$ 86.71
Common Stock [Member]
Number of warrants, beginning balance	[1]	522	522
Number of warrants, forfeited	[1]
Number of series seed shares warrants, exercised	[1]	(210,000)
Number of warrants, granted	[1]	210,000
Number of warrants, converted	[1]
Number of warrants, exercised	[1]
Number of warrants, ending balance	[1]	522	522
ABCD Warrants [Member]
Number of warrants, beginning balance	[1]
Number of warrants, forfeited	[1]
Number of series seed shares warrants, exercised	[1]
Number of warrants, granted	[1]	845,046
Number of warrants, converted	[1]	(51,334)
Number of warrants, exercised	[1]
Number of warrants, ending balance	[1]	793,712
Series Seed Preferred Warrants [Member]
Number of warrants, beginning balance			4,165
Number of warrants, forfeited
Number of series seed shares warrants, exercised
Number of warrants, granted	[1]
Number of warrants, converted	[1]
Number of warrants, exercised
Number of warrants, ending balance		4,165
Series A2 Warrants [Member]
Number of warrants, beginning balance			441,605
Number of warrants, forfeited
Number of series seed shares warrants, exercised			(441,605)
Number of warrants, granted
Number of warrants, converted
Number of warrants, exercised
Number of warrants, ending balance
Warrant [Member]
Exercise price range per share, beginning balance		$ 0.43
Exercise price range per share, exercised		0.01	$ 0.43
Exercise price range per share, ending balance		$ 0.01	$ 0.43

[1]Only ordinary shares were adjusted in the March 24, 2023 reverse stock split.

WARRANTS (Details Narrative)

WARRANTS (Details Narrative)									12 Months Ended
WARRANTS (Details Narrative)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 29, 2022 USD ($) $ / shares	Oct. 27, 2022 USD ($) $ / shares shares	Feb. 14, 2022 USD ($)	Feb. 09, 2022 USD ($) $ / shares shares	Dec. 29, 2021 USD ($) $ / shares shares	Dec. 17, 2021 USD ($) shares	Sep. 16, 2021 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)	Nov. 07, 2022 shares	Oct. 28, 2022 shares	Dec. 31, 2020 $ / shares shares	Aug. 26, 2020 $ / shares shares	Nov. 15, 2018 $ / shares shares	Nov. 09, 2015 USD ($) $ / shares shares
Purchase of warrants			63,000								126,000	21,000
Exercise Price \| $ / shares		$ 0.01	$ 0.01					$ 0.01
Change in fair value of warrant liabilities \| $										$ 497,759
Warrants and Rights Outstanding						0.75
Short Term borrowings \| $	$ 3,347,374								$ 3,347,374	1,731,881						$ 250,000
Warrants expired														Aug. 26, 2027
Issuance of ordinary shares from conversion and exercise of warrants, shares	547,445		40,000
Issuance of ordinary shares from conversion and exercise of warrants \| $			$ 1,002,100				$ 191,466		$ 2,100
Warrants to purchase shares of stock			210,000
Two Founders [Member]
Purchase of warrants																522
Exercise Price \| $ / shares																$ 86.71
September Promissory Note [Member]
Fair value warrants \| $								$ 2,692,396
Change in fair value of warrant liabilities \| $				$ 56,758				1,192,396
December Promissory Note [Member]
Fair value warrants \| $						$ 2,756,669
Change in fair value of warrant liabilities \| $				$ 71,293		$ 1,636,669				$ 1,636,669
Securities Purchase Agreement [Member]
Warrant value \| $		$ 3,391,452						$ 2,700,000
Securities Purchase Agreement [Member] \| Private Placement [Member]
Issuance of ordinary shares from conversion and exercise of warrants \| $					$ 3,500,000
Series A3 Preferred Stock [Member]
Purchase of warrants						2,376,439		1,891,928
Exercise Price \| $ / shares						$ 1.125		$ 1.125
Fair value warrants \| $						$ 1,758,565		$ 1,703,782
Series B Preferred Stock [Member]
Purchase of warrants						2,376,439		1,891,928
Exercise Price \| $ / shares						$ 1.125		$ 1.125
Series Seed Preferred Warrants [Member]
Exercise Price \| $ / shares															$ 18
Series Seed Preferred Warrants [Member] \| Maximum [Member]
Purchase of warrants															4,165
Series A2 Preferred Stock [Member]
Purchase of warrants													441,605	441,605
Exercise Price \| $ / shares													$ 0.43	$ 0.43
Issuance of ordinary shares from conversion and exercise of warrants, shares							441,605
Series A Warrant [Member]
Purchase of warrants					738,985
Exercise Price \| $ / shares					$ 33
Warrants conversion price \| $ / shares	$ 0.779								$ 0.779
Warrants converted into ordinary shares									1,709
Series A Warrant [Member] \| Securities Purchase Agreement [Member]
Purchase of warrants					106,061
Series B Warrant [Member]
Purchase of warrants					738,985
Exercise Price \| $ / shares					$ 26.40
Warrants conversion price \| $ / shares	0.816								$ 0.816
Series C Warrant [Member]
Purchase of warrants					738,985
Exercise Price \| $ / shares					$ 16.50
Warrants conversion price \| $ / shares	0.888								$ 0.888
Warrants converted into ordinary shares									25,024
Series D Warrant [Member]
Purchase of warrants					738,985
Exercise Price \| $ / shares					$ 24.75
Warrants conversion price \| $ / shares	$ 0.826								$ 0.826
Warrants converted into ordinary shares									24,601
Restricted Series B Preferred Stock [Member] \| Securities Purchase Agreement [Member]
Issuance of ordinary shares from conversion and exercise of warrants, shares					1,060,606
Warrant [Member]
Purchase of warrants						2,376,439		1,891,928
Fair value warrants \| $						$ 2,756,669		$ 2,692,396
Warrant [Member] \| Series A3 Preferred Stock [Member]
Fair value warrants \| $						$ 998,104		$ 988,614
Warrant [Member] \| Series B Preferred Stock [Member]
Purchase of warrants								1,090,909
Common Stock [Member] \| Series D Warrant [Member]
Warrants converted into ordinary shares									20,320
Common Stock [Member] \| Series A Warrants [Member]
Warrants converted into ordinary shares									1,331
Common Stock [Member] \| Series C Warrants [Member]
Warrants converted into ordinary shares									22,221

DEFINED CONTRIBUTION PLAN (Deta

DEFINED CONTRIBUTION PLAN (Details Narrative) - USD ($)	12 Months Ended
DEFINED CONTRIBUTION PLAN (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Defined contribution plan	The Company has a defined contribution plan covering eligible employees with at least two months of service. The Company fully matches employee contributions up to 3% of total compensation, plus 50% of contributions that exceed that amount up to 5% of total compensation
Total Expense	$ 23,758	$ 29,477

SCHEDULE OF PREFERRED AND COMMO

SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized	Unlimited	Unlimited
Common stock, par value	$ 0.11	$ 0.11
Series Seed Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	25,000	25,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	21,000,000	21,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Prior Merger [Member]
Class of Stock [Line Items]
Ordinary Shares, authorized	6,843,703
Prior Merger [Member] \| Non Voting Common Shares [Member]
Class of Stock [Line Items]
Ordinary Shares, authorized	8,000
Prior Merger [Member] \| Series Seed Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	19,958
Prior Merger [Member] \| Series A 1A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	7,991,078
Prior Merger [Member] \| Series A1 B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	3,167,474
Prior Merger [Member] \| Series A2 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	2,258,521
Prior Merger [Member] \| Series A3 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	46,000,000
Prior Merger [Member] \| Series A4 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000
Post Merger [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000
Common stock, shares authorized	Unlimited
Common stock, par value	$ 0.11
Preferred stock, par value	$ 0
Post Merger [Member] \| Series Seed Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	25,000
Preferred stock, par value	$ 0.0001
Post Merger [Member] \| Series A 1A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	10,000,000
Preferred stock, par value	$ 0.0001
Post Merger [Member] \| Series A2 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	3,000,000
Preferred stock, par value	$ 0.0001
Post Merger [Member] \| Series A4 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	17,500,000
Preferred stock, par value	$ 0.0001
Post Merger [Member] \| Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	21,000,000
Preferred stock, par value	$ 0.0001

SCHEDULE OF PREFERRED STOCK ISS

SCHEDULE OF PREFERRED STOCK ISSUED (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Total	14,449,669	7,461,815
Series Seed Preferred Stock [Member]
Class of Stock [Line Items]
Total	7,020	7,020
Series A 1A Preferred Stock [Member]
Class of Stock [Line Items]
Total	3,884,256	4,473,547
Series A2 Preferred Stock [Member]
Class of Stock [Line Items]
Total	1,195,904	1,264,360
Series A4 Preferred Stock [Member]
Class of Stock [Line Items]
Total	1,854,644
Series B Preferred Shares [Member]
Class of Stock [Line Items]
Total	7,507,845	1,716,888

STOCKHOLDERS_ EQUITY (DEFICIT_2

STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative)

12 Months Ended

Mar. 24, 2023

Dec. 31, 2022 shares

Oct. 27, 2022 USD ($) $ / shares shares

Jul. 12, 2022 USD ($) shares

Feb. 14, 2022

Dec. 29, 2021 USD ($) shares

Dec. 17, 2021 USD ($) $ / shares shares

Dec. 31, 2022 USD ($)

Nov. 07, 2022 $ / shares shares

Oct. 28, 2022 $ / shares shares

Dec. 31, 2020 shares

Aug. 26, 2020 shares

Class of Stock [Line Items]

Reverse split stock, description

The
Board of Directors of Hudson Capital approved a reverse stock split of 2.2:1 of Hudson Capital on January 21, 2022, effective as of February
14, 2022. Hudson Capital’s ordinary shares began trading on a split adjusted basis on February 15, 2022

Series
A1-A: 0.149, Series A2: 0.223, Series A4: 0.15, Series B: 0.471, Series Seed: 0.1

Issuance of ordinary shares from conversion and exercise of warrants, shares

547,445

40,000

Share price | $ / shares

$ 0.01

$ 0.43

$ 0.01

Issuance of ordinary shares from conversion and exercise of warrants | $

$ 1,002,100

$ 191,466

$ 2,100

Note stock split

0.779 of Company’s
Ordinary share will be issued for each Series A Warrant, 0.816 Ordinary share shall be issued for each Series B Warrant, 0.888 Ordinary
share shall be issued for each Series C Warrant and 0.826 Ordinary share shall be issued for each Series D Warrant

Purchase of warrants

63,000

126,000

21,000

New shares issued

43,873

Convertible Debt [Member]

Class of Stock [Line Items]

Consideration from issuance of shares | $

$ 1,500,000

Repayment of debt | $

$ 200,000

Series A2 Preferred Stock [Member]

Class of Stock [Line Items]

Issuance of ordinary shares from conversion and exercise of warrants, shares

441,605

Purchase of warrants

441,605

Series A4 Preferred Stock [Member]

Class of Stock [Line Items]

Issuance of shares

1,285,714

Consideration from issuance of shares | $

$ 2,700,000

Series A4 Preferred Stock [Member] | First Closing [Member]

Class of Stock [Line Items]

Issuance of shares

809,524

Consideration from issuance of shares | $

$ 1,700,000

Series A4 Preferred Stock [Member] | Second Closing [Member]

Class of Stock [Line Items]

Issuance of shares

476,190

Consideration from issuance of shares | $

$ 1,000,000

Common Stock [Member]

Class of Stock [Line Items]

Issuance of ordinary shares from conversion and exercise of warrants, shares

40,000

Issuance of ordinary shares from conversion and exercise of warrants | $

$ 1,000,000

Purchase of warrants

210,000

Common Stock [Member] | First Closing [Member]

Class of Stock [Line Items]

Common stock, shares

16,000

Common stock, shares | $

$ 84,000

Common Stock [Member] | Second Closing [Member]

Class of Stock [Line Items]

Common stock, shares

24,000

Common stock, shares | $

$ 126,000

Warrant [Member] | First Closing [Member]

Class of Stock [Line Items]

Purchase of warrants

400,000

Warrant [Member] | Second Closing [Member]

Class of Stock [Line Items]

Purchase of warrants

600,000

Series A1A [Member]

Class of Stock [Line Items]