Freight (FRGT) 20-F9 May 242023 FY Annual report (foreign)Financial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Dec. 31, 2023 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, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
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 $1.10 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	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	21,919,240
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [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, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents		$ 1,560,105	$ 1,013,000
Accounts receivable, net		5,360,493	4,982,873
Unbilled receivables		961,747	1,891,023
Prepaid expenses and other current assets		1,884,067	1,571,853
Total current assets		9,766,412	9,458,749
Capitalized software, net		771,133	749,855
Property and equipment, net		46,550	27,607
Other long-term assets		80,674	154,062
Security deposits		7,818	18,166
Intangible assets, net		6,359	7,172
Total assets		10,678,946	10,415,611
Current liabilities:
Accounts payable		1,875,727	1,980,619
Accrued expenses		2,880,805	1,794,575
Short-term borrowings		2,819,620	3,347,374
Income tax payable		220,180	143,518
Insurance financing payable		13,191	18,062
Total current liabilities		7,809,523	7,284,148
Convertible notes payable– long term		242,442
Total liabilities		8,051,965	7,284,148
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Ordinary shares, $1.10 par value, unlimited shares authorized; 2,191,924 and 164,688 shares issued and outstanding at December 31, 2023 and 2022, respectively		2,411,118	181,157
Additional paid-in capital		39,023,126	32,897,836
Accumulated deficit		(39,315,551)	(29,987,945)
Accumulated other comprehensive income		491,888	38,971
Total stockholders’ equity		2,626,981	3,131,463
Total liabilities and stockholders’ equity		10,678,946	10,415,611
Series A Preferred Stock [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, value	[1]	16,274	693
Series B Preferred Stock [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, value		126	751
Series Seed Preferred Stock [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, value

[1]List of authorized shares for Series A preferred

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred stock, shares issued	164,001,382	14,449,669
Ordinary shares, par value	$ 1.10	$ 1.10
Ordinary shares, shares authorized unlimited	Unlimited	Unlimited
Ordinary shares, shares issued	2,191,924	164,688
Ordinary shares, shares outstanding	2,191,924	164,688
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	162,732,288	6,934,828
Preferred stock, shares outstanding	162,732,288	6,934,828
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	1,262,074	7,507,845
Preferred stock, shares outstanding	1,262,074	7,507,845
Preferred stock, shares authorized	21,000,000	21,000,000
Series Seed Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	7,020	7,020
Preferred stock, shares outstanding	7,020	7,020
Preferred stock, shares authorized	25,000	25,000
Series A1A Preferred Stock [Member]
Preferred stock, shares issued	1,169,847	3,884,256
Preferred stock, shares authorized	10,000,000	10,000,000
Series A2 Preferred Stock [Member]
Preferred stock, shares issued	634,978	1,195,904
Preferred stock, shares authorized	3,000,000	3,000,000
Series A4 Preferred Stock [Member]
Preferred stock, shares issued	160,927,463	1,854,644
Preferred stock, shares authorized unlimited	Unlimited	Unlimited

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 17,060,753	$ 25,888,436	$ 21,474,151
Cost and expenses
Cost of revenue (exclusive of depreciation and amortization shown separately below)	15,709,673	23,625,317	19,558,807
Compensation and employee benefits	5,963,713	4,963,306	3,712,325
General and administrative	3,163,639	3,560,615	2,618,126
Sales and marketing	80,328	557,471	91,657
Depreciation and amortization	404,598	243,334	302,100
Total cost and expenses	25,321,951	32,950,043	26,283,015
Operating loss	(8,261,198)	(7,061,607)	(4,808,864)
Other expenses
Interest expense, net	(807,939)	(907,013)	(1,136,096)
Gain from extinguishment of debt			115,725
Loss on initial issuance of private warrants			(2,829,065)
Other expense, net	(498,917)
Change in fair value of warrant liabilities		(128,051)	497,759
Change in fair value of convertible note	345,396
Loss before provision for income taxes	(9,222,658)	(8,096,671)	(8,160,541)
Income tax expense	104,948	90,511	40,264
Net loss	$ (9,327,606)	$ (8,187,182)	$ (8,200,805)
Net loss per share attributable to ordinary shareholders, Basic	$ (7.79)	$ (20.96)	$ (105.35)
Net loss per share attributable to ordinary shareholders, Diluted	$ (7.79)	$ (20.96)	$ (105.35)
Weighted average number of ordinary shares, Basic	1,196,668	390,563	77,844
Weighted average number of ordinary shares, Diluted	1,196,668	390,563	77,844
Other comprehensive gain net of tax
Foreign currency translation	$ 452,917	$ 88,881	$ (50,540)
Comprehensive loss	$ (8,874,689)	$ (8,098,301)	$ (8,251,345)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - 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]	Common Stock [Member]		Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2020		$ 701			$ 8,151		$ 12,443,460	$ (13,599,958)	$ 630	$ (1,147,016)
Balance, shares at Dec. 31, 2020		7,013,190		7,020	7,410	[1]
Issuance of ordinary shares upon vesting of restricted stock awards					$ 507		(507)
Issuance of ordinary shares upon vesting of restricted stock awards, shares	[1]				461
Share-based compensation							235,404			235,404
Issuance of Series A2 preferred stock in connection with exercise of warrants		$ 44					191,421			191,465
Issuance of Series A2 preferred stock in connection with exercise of warrants, shares		441,605
Foreign currency translation adjustment									(50,540)	(50,540)
Net loss								(8,200,805)		(8,200,805)
Balance at Dec. 31, 2021		$ 745			$ 8,658		12,869,778	(21,800,763)	(49,910)	(8,971,492)
Balance, shares at Dec. 31, 2021		7,454,795		7,020	7,871	[1]
Issuance of ordinary shares upon vesting of restricted stock awards					$ 2,863		(2,863)
Issuance of ordinary shares upon vesting of restricted stock awards, shares	[1]				2,603
Share-based compensation							1,004,392			1,004,392
Foreign currency translation adjustment									88,881	88,881
Net loss								(8,187,182)		(8,187,182)
Issuance of stock in connection with Merger, net of cost		$ (115)	$ 739		$ 69,867		11,584,627			11,655,118
Issuance of stock in connection with merger net of cost, shares		(1,147,957)	7,389,851		63,515	[1]
Issuance of Series B preferred shares related to PIPE investment			$ 106				3,499,894			3,500,000
Issuance of series B preferred shares related to PIPE investment, shares			1,060,606
Issuance of Series A4 preferred shares for cash and note conversion, net of costs		$ 129					2,432,301			$ 2,432,430
Issuance of Series A4 preferred shares for cash and note conversion, net of costs, shares		1,285,714								4,387
Issuance of ordinary shares from conversion of preferred stock		$ (66)	$ (94)		$ 60,219		(60,059)
Issuance of ordinary shares from conversion of preferred stock, shares		(657,724)	(942,612)		54,745	[1]
Issuance of ordinary shares from conversion and exercise of warrants					$ 27,926		(25,826)			2,100
Issuance of ordinary shares from conversion and exercise of warrants, shares	[1]				25,387
Issuance of ordinary shares for cash, net of issuance costs					$ 4,400		930,600			935,000
Issuance of ordinary shares for cash, net of issuance costs, shares	[1]				4,000
Issuance of restricted stock in exchange for professional services					$ 2,423		480,577			483,000
Issuance of restricted stock in exchange for professional services, shares	[1]				2,203
Issuance of ordinary shares for exercise of stock options					$ 4,801		184,415			$ 189,216
Issuance of ordinary shares for exercise of stock options, shares					4,364	[1]				4,364
Balance at Dec. 31, 2022		$ 693	$ 751		$ 181,157		32,897,836	(29,987,945)	38,971	$ 3,131,463
Balance, shares at Dec. 31, 2022		6,934,828	7,507,845	7,020	164,688	[1]
Issuance of ordinary shares upon vesting of restricted stock awards					$ 2,379		(2,379)
Issuance of ordinary shares upon vesting of restricted stock awards, shares	[1]				2,163
Share-based compensation							1,153,787			1,153,787
Foreign currency translation adjustment									452,917	452,917
Net loss								(9,327,606)		$ (9,327,606)
Issuance of Series A4 preferred shares for cash and note conversion, net of costs, shares										547,758
Issuance of ordinary shares for exercise of stock options, shares
Issuance of Series A4 preferred shares for note conversions		$ 21,888					5,095,208			$ 5,117,096
Issuance of preferred shares for note conversions, shares		218,876,995
Issuance of ordinary shares from conversion of preferred stock, net of costs		$ (6,307)	$ (625)		$ 1,368,907		(1,361,975)
Issuance of ordinary shares from conversion of preferred stock, net of costs, shares		(63,079,535)	(6,245,771)		1,244,461	[1]
Issuance of ordinary shares for exercise of warrants					$ 60,253		(60,253)
Issuance of ordinary shares for exercise of warrants, shares	[1]				54,776
Issuance of ordinary shares for note conversions					$ 798,422		(42,952)			755,470
Issuance of ordinary shares for note conversion, shares	[1]				725,836
Issuance of warrants							1,343,854			1,343,854
Balance at Dec. 31, 2023		$ 16,274	$ 126		$ 2,411,118		$ 39,023,126	$ (39,315,551)	$ 491,888	$ 2,626,981
Balance, shares at Dec. 31, 2023		162,732,288	1,262,074	7,020	2,191,924	[1]

[1]Reflects reverse split of 10:1 as approved by the Board of Directors of Freight Technologies, Inc on January 26, 2024, effective as of February 5, 2024.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (9,327,606)	$ (8,187,182)	$ (8,200,805)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	404,598	243,334	302,100
Amortization of debt issuance costs and debt discount		539,975	592,874
Share-based compensation	1,153,787	1,004,392	235,404
Non-cash interest	449,147		313,404
Loss on initial issuance of private warrants			2,829,065
Change in fair market value of warrant liabilities		128,051	(497,759)
Change in fair market value of convertible note	(345,396)
Conversion inducement expense	129,259
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	45,383	(2,006,568)	(1,309,208)
Unbilled receivables	1,070,440	(596,082)	(241,483)
Account receivable – related party			24,010
Prepaid expense and other assets	288,272	(684,100)	(591,520)
Security deposits	11,457	16,936
Accounts payable	(181,880)	(292,520)	526,375
Accrued expenses	435,193	810,823	163,223
Income tax payable	76,662	70,222	40,264
Net cash used in operating activities	(5,790,684)	(8,469,719)	(5,929,734)
Cash flows from investing activities:
Capitalization of software development costs	(328,645)	(363,665)	(457,874)
Purchase of property and equipment	(34,724)	(16,913)	(12,528)
Net cash used in investing activities	(363,369)	(380,578)	(470,402)
Cash flows from financing activities:
Proceeds from convertible notes	7,675,000		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	(346,524)	(399,633)	(18,946)
Proceeds from stock option exercises		189,216
Repayment of short-term borrowings	(19,385,421)	(22,554,467)	(19,273,922)
Proceeds from short-term borrowings	18,857,667	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	6,800,722	6,572,488	6,833,219
Net increase (decrease) in cash and cash equivalents	646,669	(2,277,809)	433,083
Effect of exchange rate changes on cash and cash equivalents	(99,564)	(37,184)	(46,581)
Cash, cash equivalents and restricted cash at beginning of the period	1,013,000	3,327,993	2,941,491
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	1,560,105	1,013,000	3,327,993
Supplemental disclosure of cash flow information
Cash paid for interest	816,819	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	341,653	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 convertible notes to preferred stock	7,054,065
Conversion of convertible notes to ordinary shares	1,040,000
Conversion of preferred stock to ordinary shares	1,368,907	60,218
Conversion of warrants to ordinary shares	60,253	4,825
Reconciliation of cash, cash equivalents, and restricted cash reported in the consolidated balance sheet
Cash and cash equivalents	1,560,105	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, 2023
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, both companies filed their name change to Fr8App and Fr8App Mexico. Following the Merger described below, Fr8App continued its operation under the name Freight Technologies Inc. (“Fr8Tech”). Fr8Tech 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 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

LIQUIDITY AND GOING CONCERN

LIQUIDITY AND GOING CONCERN	12 Months Ended
LIQUIDITY AND GOING CONCERN	Dec. 31, 2023
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, 2023, the Company has an accumulated deficit of $ 39.3 million, a shareholders’ equity of $ 2.6 million, a working capital of $ 2.0 million, short-term debt of $ 2.8 million and $ 1.6 million of unrestricted cash on hand. For the years ended December 31, 2023 and 2022, 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 need 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, 2023
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, accounting for warrants, useful lives of internally developed software and property and equipment, fair value of convertible notes, impairment of long lived assets, 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 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 . Additionally, a portion of the Company’s cash is deposited in non-US accounts. The funds are held with financial institutions that offer deposit insurance and bear specific country and regional risks. The amounts over the insured limits as of December 31, 2023 and 2022 was $ 1,186,214 449,991 The financial assets that potentially subject the Company to concentration of credit risk is accounts receivable and unbilled receivables. At December 31, 2023, one customer accounted for 66 42 and 16 of the Company’s accounts receivable, respectively. For the year ended December 31, 2023, one customer accounted for 33 17 and 11 of the Company’s revenues, respectively. For the year ended December 31, 2021, one customer accounted for 37% of the Company’s revenues. 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, 2023 and 2022, 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 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, that may impact the collectability of outstanding receivables. 282,058 171,009 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, 2023 and 2022 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 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 Warrants classified as liabilities are recorded at fair value and are remeasured at each reporting date until settlement. Changes in fair value are recognized as a component of change in fair value of warrant liability in the consolidated statements of operations. The fair value of the warrant liabilities is estimated using a Black-Scholes option pricing formula. The warrant volatility assumption within the Black-Scholes model represents a Level 3 measurement within the fair value measurement hierarchy. Warrants classified as equity instruments are initially recognized at fair value and are not subsequently remeasured. The proceeds received from the sale of equity classified warrants and convertible note in a bundled transaction are allocated based on the relative fair values of warrants and convertible notes with no changes in fair value of warrants recognized after the issuance date and were recorded at the issuance date using a relative fair value allocation method. Equity classified warrants, which are issued as an inducement to the holder of convertible note to covert the note, are recognized as an expense equal to the fair value of the warrant in accordance with ASC 470-20, Debt with Conversion and Other Options. When equity classified warrants are issued to the convertible note holder as an additional consideration for the holder to provide additional funding under the existing convertible note agreement, the additional funding is allocated based on the residual fair value allocation method in which the fair value of the additional funding is first allocated to the convertible note and the remaining proceeds are allocated to the equity classified warrant. Advertising Advertising costs are expensed as incurred. Advertising costs amounted to $ 46,726 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, 2023 and 2022. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 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). 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 Transportation Brokerage Services The Company’s freight transportation brokerage services include Fr8App Full Truckload (“FTL”), providing a single customer the use of an entire truckload, and Fr8Now Less Than Truckload (“LTL), providing multiple customers the use of a partial truckload in each truck. Shippers contract with the Company to utilize the Company’s network of independent freight carriers to transport freight. Those shipments are the Company’s single performance obligations, arising under contracts the Company has entered into with customers that define the price for performance obligation and payment terms. The Company’s acceptance of the shipment request establishes enforceable rights and obligations for each contract. By accepting the shipper’s order, the Company has responsibility for transportation of the shipment from origin to destination. Under such contracts, revenue is recognized when performance obligations are satisfied, which generally represents the transit period from origin to destination by a third-party carrier which can vary based on origin and destination, or the capacity used. This is appropriate as the customer simultaneously receives and consumes the benefits as the Company performs its obligation. The Company determines revenue in-transit using the output method based on shipping milestones. Measure of revenue in-transit requires the application of judgment. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing services. Accessorial charges for fuel surcharge, loading and unloading, stop charges, and other immaterial charges are part of the consideration received for the single performance obligation of delivering shipments. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Dedicated Capacity Services The Company provides customers with dedicated shipment capacity for a specific period of time under Fr8Fleet. The current arrangements under Fr8Fleet include an obligation to provide weekly shipping capacity. The Company’s performance obligation in this arrangement is to provide the shipping capacity and the transaction price is fixed. Under such contracts, revenue is recognized when performance obligations are satisfied, which generally represents when trucks are provided to the shipper over the term of the agreement. The Company utilizes the output method for revenue recognition based on direct measurements of the value transferred to the customer, which is the number of trucks provided to the customer per day. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing services. 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. Through the Company’s freight brokerage services and dedicated capacity, 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, maintains discretion over pricing and is responsible for resolving customer claims. 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. A summary of the Company’s revenue by major service lines is as follows: SUMMARY OF COMPANY REVENUE BY MAJOR SERVICE LINE $’000 2023 2022 2021 Years Ended December 31, $’000 2023 2022 2021 Freight Transportation Brokerage 13,474,282 23,467,806 21,411,450 Dedicated Capacity 3,586,471 2,420,630 62,701 Total Revenue 17,060,753 25,888,436 21,474,151 Convertible Debt The Company elected the fair value option (“FVO”) of accounting under ASC 825-10, Financial Instruments (“ASC 825”), to record its convertible note issued in 2023 at fair value at issuance and subsequently remeasures to fair value each reporting period. The primary reason for electing the fair value option was for simplification and cost-benefit considerations of accounting for the convertible notes at fair value versus bifurcation of the embedded derivatives. The convertible note accounted for under the FVO represents a financial instrument containing embedded features which would otherwise be required to be bifurcated from the debt-host and recognized as separate derivative liabilities subject to initial and subsequent periodic estimated fair value measurements under ASC 815. The Company has elected to present interest expenses separately from changes in fair value and therefore interest associated with the convertible note is presented as interest expense in the consolidated statement of operations. All costs associated with the issuance of the convertible note accounted for using the FVO were expensed upon issuance. The fair value of the convertible note is determined using a binomial lattice model and classified as Level 3 in the fair value hierarchy. 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. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 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. 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 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 the 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 including those from warrants and convertible notes, if any, are not considered in the computation. At December 31, 2023 and 2022, there were 1,246,687 63,671 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 14 to the consolidated financial statements. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference rate reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting.” The ASU provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform. The amendments apply only to contracts and hedging relationships that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. The amendments are elective and are effective upon issuance. In December 2022, the FASB issued ASU 2022-06, “Reference rate reform (Topic 848): Deferral of the sunset date of Topic 848” which defers the expiration date for Topic 848 from December 31, 2022 until December 31, 2024. The Company is currently evaluating the potential impact of adopting this new accounting guidance, but does not expect the adoption of the standard to have a material impact on its consolidated financial statements. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 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. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to reportable Segment Disclosures (ASU 2023-07), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and by extending the disclosure requirements to entities with a single reportable segment. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the potential impact of adopting this accounting standard update on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments require (i) enhanced disclosures in connection with an entity’s effective tax rate reconciliation and (ii) income taxes paid disaggregated by jurisdiction. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The amendments are effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of adopting this accounting standard update on its consolidated financial statements and disclosures.

MERGER

MERGER	12 Months Ended
MERGER	Dec. 31, 2023
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 17). SCHEDULE OF SECURITIES ISSUED IN MERGER Securities Issued in Merger Issued at Merger Ordinary Shares 25,777 * 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 52 * Series Seed Warrants 4,165 Equity Awards for Ordinary Shares 19,583 * Total Securities Issued in Merger 13,753,284 * Only ordinary shares were adjusted in the February 25, 2024 reverse stock split. 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 10,606 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 162,577 of Hudson’s ordinary shares (see Note 15). FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 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 Additional Activities Related to the Merger In connection with the Merger, Fr8App’s convertible promissory notes were converted into Series B Preferred shares by which the Company issued 4,049,887 7,965,626 7,613,292 352,334 Upon consummation of the Merger, the principal and interest of several promissory note with Hudson Capital in the total amount of $ 2,450,000 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 2,500 100,000 Pursuant to the terms of a warrant agreement issued to an affiliate of a shareholder on September 16, 2021, in connection with the promissory notes, upon closing of the Merger the warrant was automatically deemed exercised and Company issued 1,090,909 1,891,928 1.125 1.26855 Pursuant to the terms of a warrant agreement issued to an affiliate of a shareholder on December 29, 2021, in connection with the promissory notes, upon closing of the Merger the warrant was automatically deemed exercised and the Company issued 2,376,439 2,376,439 1.125 1.26855 Post-merger business divesture Following the Merger, in an effort to focus on its core business as a North American transportation and 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.

CAPITALIZED SOFTWARE

CAPITALIZED SOFTWARE	12 Months Ended
CAPITALIZED SOFTWARE	Dec. 31, 2023
Capitalized Software
CAPITALIZED SOFTWARE	NOTE 5 – CAPITALIZED SOFTWARE Capitalized software consists of the following at: SCHEDULE OF CAPITALIZED SOFTWARE December 31, 2023 December 31, 2022 Capitalized software $ 3,594,249 $ 3,178,850 Accumulated amortization (2,823,116 ) (2,428,995 ) Capitalized software, net $ 771,133 $ 749,855 Amortization expense for the years ended December 31, 2023, 2022 and 2021 was $ 385,488 225,447 285,069 Estimated amortization for capitalized software for future periods is as follows: SCHEDULE OF ESTIMATED AMORTIZATION CAPITALIZED SOFTWARE Year Ended December 31, 2024 $ 386,591 2025 326,062 2026 58,480 Total $ 771,133 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
PROPERTY AND EQUIPMENT	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment consist of the following at: SCHEDULE OF PROPERTY AND EQUIPMENT, NET December 31, 2023 December 31, 2022 Equipment $ 124,834 $ 84,806 Furniture and fixtures 9,517 9,517 Total cost 134,351 94,323 Accumulated depreciation (87,801 ) (66,716 ) Property and equipment, net $ 46,550 $ 27,607 Depreciation expense for the years ended December 31, 2023, 2022 and 2021 was $ 19,110 17,887 16,130

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
ACCRUED EXPENSES	Dec. 31, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 7 – ACCRUED EXPENSES Accrued expenses consist of the following at: SCHEDULE OF ACCRUED EXPENSES December 31, 2023 December 31, 2022 Accrued freight costs $ 1,057,374 $ 947,372 Accrued payroll 716,278 416,039 Accrued value added tax 641,634 386,083 Accrued interest on convertible note 449,146 - Accrued professional services 1,006 41,554 Other accrued liabilities 15,367 3,527 Total accrued expenses $ 2,880,805 $ 1,794,575

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
SHARE-BASED COMPENSATION	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 8 – 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 150,000 Stock Options The fair value of options and share awards granted under the stock option plan during the year ended December 31, 2023 and 2022 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 2023 2022 Risk-free interest rates 3.58 4.39 0.986 3.44 Expected life of options 5 5 Expected volatility 83.12 92.32 73.62 83.45 % Expected dividend yield 0.00% 0.00 % FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 8 – 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, 2022 15,812 $ 133.59 Granted 33,477 179.00 Forfeited/Expired (5,771 ) 148.00 Exercised (4,364 ) 43.36 Balance at December 31, 2022 39,154 180.22 9.11 - Granted 37,490 18.23 Forfeited/Expired (1,383 ) 191.88 Exercised - - Balance at December 31, 2023 75,261 99.32 8.70 $ - Exercisable at December 31, 2023 17,311 $ 174.84 7.81 $ - 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, 2022 7,002 $ 58.80 Options granted 33,477 108.77 Options forfeited/cancelled (5,381 ) 77.70 Options vested (2,563 ) 38.00 At December 31, 2022 32,535 102.99 Options granted 37,490 12.37 Options forfeited/cancelled (424 ) 3.42 Options vested (11,651 ) 98.98 At December 31, 2023 57,950 $ 45.33 For the years ended December 31, 2023, 2022 and 2021, the Company recognized $ 1,092,820 555,156 171,500 2,752,366 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 NOTE 8 – 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, 2022 529 $ 138.74 Granted 2,373 175.32 Forfeited - - Exercised - - Vested (2,603 ) 167.67 Outstanding at December 31, 2022 299 138.74 Granted 2,000 17.76 Forfeited (13 ) 0.08 Exercised - - Vested (2,163 ) 28.19 Outstanding at December 31, 2023 123 $ 138.74 For the years ended December 31, 2023 and 2022, the Company recognized $ 60,967 449,236 15,867 three years

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
SHORT-TERM BORROWINGS	Dec. 31, 2023
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS	NOTE 9 – 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 5.25 8.50 January 31, 2025 The Company incurred interest expense related to the short-term borrowings in the amount of $ 350,890 382,655 263,788 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	12 Months Ended
FAIR VALUE MEASUREMENT	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	NOTE 10 – FAIR VALUE MEASUREMENT Assets and liabilities recognized or disclosed at fair value in the financial statements are categorized based upon the level of judgment associated with the inputs used to measure their respective fair values. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis for recognition or disclosure purposes as of December 31, 2023 by level within the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and considers factors specific to the asset or liability. No financial instruments were measured at fair value at December 31, 2022. SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 As of December 31, 2023 Level 1 Level 2 Level 3 Liabilities: Convertible note $ - $ - $ 242,442 Total financial liabilities $ - $ - $ 242,442 The following is a rollforward of balances for the convertible note for the year ended December 31, 2023: SCHEDULE OF ROLLFORWARD FOR CONVERTIBLE NOTE Issuance consideration $ 7,675,000 Allocation of consideration to warrants (1,214,594 ) Conversions to Ordinary shares at fair value (755,470 ) Conversions to Preferred shares at fair value (5,117,098 ) Changes in fair value (345,396 ) Fair value at December 31, 2023 $ 242,442 The convertible note fair value is measured using a binomial lattice model utilizing observable inputs (e.g. the Company’s stock price) and unobservable inputs (e.g. the expected volatility and instrument specific borrowing rate) that cause the valuation measurements to be classified as Level 3. The following assumptions were used within the model: SCHEDULE OF FAIR VALUE ON VALUATION TECHNIQUE Risk-free interest rate 3.84 4.31 Remaining contractual term (years) 5 6 Expected volatility 62 67 Annual dividend yield 0.00 Fair value of common stock (per share) $ 3 17 Borrowing rate 13.5 14.5

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
CONVERTIBLE DEBT	Dec. 31, 2023
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	NOTE 11 – CONVERTIBLE DEBT On January 3, 2023, the Company and Freight Opportunities LLC (the “Noteholder”) entered into a Securities Purchase Agreement pursuant to which the Company issued to the Noteholder a convertible promissory note in the principal amount of up to $ 6,593,407 9 593,407 January 3, 2029 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11 – CONVERTIBLE DEBT (CONTINUED) The securities purchase closes in tranches (each, a “Tranche”), with the closing of the first Tranche consists of a note with an aggregate purchase price of $ 1,650,000 1,813,187 1,100,000 1,208,791 3,250,000 3,571,429 1.00 500,000 Interest rate on the Note shall reset daily and accrue (a) for payments made in cash, at a rate equal to the greater of (i) the Prime Rate plus 4% per annum, or (ii) 9% and (b) for payments made in ordinary shares, at a rate equal to the greater of (i) the Prime Rate plus 6% per annum, or (ii) nine 9%. The Company may pay such interest (i) in cash or (ii) in such number ordinary shares as is determined in the Note. The Note shall be convertible (in whole or in part), at the option of the Noteholder, into a number of Ordinary shares as is determined by dividing (x) that portion of (A) the outstanding principal amount, (B) accrued and unpaid interest with respect to such outstanding principal amount of the Note, (C) the Make-Whole Amount if any, that it elects to convert (the “Conversion Amount”) by (y) $ 2.30 In addition, in case of dilutive issuance of Ordinary shares, warrant, options or convertible securities in which the price per share for such securities upon the exercise is less than the Conversion Price then in effect, the Conversion Price is reduced to then price per share. In the event of any consolidation or merger, the Conversion Price will be adjusted based on certain parameters of the event, such as fair value or exchange ratios. The Noteholder may require the Company to prepay the Note in connection with a change of control. The Company may repay the Note at an amount equal to 110 As part of the Note agreement, the Company issued to the Noteholder a warrant to purchase up to 286,670 150.00 During January and February 2023, the Company drew down $ 3,750,000 4,120,879 On April 24, 2023, the Company entered into a debt modification agreement (“First Debt Modification Agreement”) with the Noteholder which modified the Note. The First Debt Modification Agreement re-defined the funding amount net of a 9% OID as $ 9,000,000 9,890,110 6,250,000 6,868,132 On April 24, 2023, the Company drew down $ 1,050,000 1,153,846 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11 – CONVERTIBLE DEBT (CONTINUED) As of June 30, 2023, the first tranche of $ 1,650,000 1,100,000 2,050,000 4,800,000 5,274,725 On June 30, 2023, the Company entered into a second debt modification agreement (“Second Debt Modification Agreement”) with the Noteholder to amend the Note, which was convertible at the option of the Noteholder into Ordinary shares of the Company pursuant to the terms thereof. The Second Debt Modification Agreement amended the terms of the Note such that it is convertible into either Ordinary shares or Series A-4 Preferred shares of the Company, at the discretion of the Noteholder. In connection with the Second Debt Modification Agreement, the Company issued a second amended and restated convertible promissory note in favor of the Noteholder (the “Amended Note”). On June 30, 2023, the Noteholder also exercised its right to convert $ 3,500,000 0.159 66.67 In order to incentivize the Noteholder to convert its note, the Company issued to the Noteholder a warrant to purchase 25,000 4.00 81,840 As of result of the Note conversion, the Company reduced its principal balance on the Amended Note by $ 3,500,000 5,274,725 1,774,725 In August 2023 and October 2023, the Company drew down additional amounts of $ 305,000 550,000 939,560 On November 30, 2023, the Company drew down on an additional $ 1,000,000 1,098,902 366,303 150.00 On December 18, 2023, the Company drew down an additional $ 1,020,000 1,120,879 25,000 4.00 On December 20, 2023, the Noteholder exercised its right to convert $ 3,554,065 4.00 66.677 As of result of the Note conversion, the Company reduced its principal balance on the Convertible Note by $ 3,554,065 25,000 4.00 47,420 During December 2023, the Noteholder converted a principal amount of $ 1,040,000 725,836 1.40 The Company elected to apply the fair value option to the outstanding 2023 Convertible Note. As such, the 2023 Convertible Note was recognized at fair value with changes in fair value recognized in the consolidated statements of operations and comprehensive loss. For the year ended December 31, 2023, the Company recognized a change in fair value of the convertible notes of $ 345,396 The Company recorded interest expense pursuant to the stated interest rates on the Note in the amount of $ 449,147 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 12 – INCOME TAXES The components of the provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021 are as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE December 31, 2023 December 31, 2022 December 31, 2021 Current: Federal - - State 16,625 41,401 Foreign 88,323 49,110 40,264 Total Current 104,948 90,511 40,264 Deferred: Federal - - State - - Total Deferred - - - Income tax expense 104,948 90,511 40,264 The Company’s provision for income taxes for the years ended December 31, 2023, 2022 and 2021 is based on the annual effective tax rate, plus discrete items. The following table presents the provision for income taxes and the effective tax rates for and years ended December 31, 2023, 2022 and 2021: SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES December 31, 2023 December 31, 2022 December 31, 2021 Loss before income tax provision (9,222,658 ) (8,096,671 ) (8,160,541 ) Income tax provision 104,948 90,511 40,264 Effective tax rate -1.14 % -1.1 % -0.5 % For the years ended December 31, 2023, 2022 and 2021, the difference between the Company’s effective tax rate and the federal statutory tax rate of 21 The following is a reconciliation of the income tax at the federal statutory rate to the Company’s provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021: SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE December 31, 2023 December 31, 2022 December 31, 2021 Income tax expense at federal statutory rate $ (1,936,758 ) 21.0 % $ (1,700,301 ) 21.0 % $ (1,713,714 ) 21.0 % State and local income taxes net of federal tax benefit (24,108 ) -0.2 % (17,442 ) 0.2 % (21,754 ) 0.3 % Return to provision adjustments (205,230 ) 2.2 % 911,500 -11.3 % 5,119 -0.1 % Change in valuation allowance 1,952,580 -21.2 % 720,407 -8.9 % 2,295,280 -28.1 % Permanent differences (227,266 ) 2.64 % 166,816 -2.1 % (528,281 ) 6.5 % Earnings of foreign subsidiary 457,407 -4.9 % - - - - Foreign taxes 88,323 -0.9 % - - - - Other - net $ - 9,531 -0.1 % 3,614 -0.0 % Income tax expense (benefit) $ 104,948 -1.14 % $ 90,511 -1.1 % $ 40,264 -0.5 % FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 12 – INCOME TAXES (CONTINUED) At December 31, 2023, 2022 and 2021 the Company had federal net operating losses (“NOLs”) in the amount of $ 33,069,147 25,375,000 17,817,000 NOLs expire from 2035 to 2042 SCHEDULE OF DEFERRED TAXABLE INCOME 12/31/2035 $ 35,945 12/31/2036 836,622 12/31/2037 1,922,017 Indefinite 30,274,563 Total Federal Net Operating Loss Carryforward $ 33,069,147 The tax effects of temporary differences and related deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSET December 31, 2023 December 31, 2022 Accrued expenses $ - $ 65,011 Fixed and intangible assets 173,462 (54,219 ) Allowance for doubtful accounts 53,807 13,884 Stock Options 102,019 - Warrant amortization 208,103 211,142 Net operating loss - Federal 6,944,521 5,328,850 Net operating loss - States 225,032 189,695 Deferred tax asset, gross 7,706,944 5,754,363 Less: Valuation allowance (7,706,944 ) (5,754,363 ) Net deferred tax asset $ - $ - The Company has a valuation allowance of $ 7,706,944 5,754,363 1,952,580 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. The Company is subject to taxation in the United States and Mexico. Earnings from non-U.S. activities are subject to local country income tax. None of the Company’s federal, state, or local income tax returns are currently under examination by the United States or respective authorities. The Company’s 2019 to 2022 tax years remain subject to potential examination by the United States and various state and local jurisdictions. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

LEASES

LEASES	12 Months Ended
LEASES	Dec. 31, 2023
Leases
LEASES	NOTE 13 – LEASES In November 2021, Fr8App entered into a lease agreement for 62 workstations in Mexico for a term of 12 months which expired on October 31, 2022 . In November 2022, the Company entered into a lease agreement for 31 workstations in Mexico for a term of 12 months expiring in November 1, 2023 12 November 1, 2024 . The rent expense for the years ended December 31, 2023 and 2022, was approximately $ 101,000 and $ 118,000 , respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
SEGMENT INFORMATION	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 14 – 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, 2023 December 31, 2022 United States $ 156,411 $ 262,764 Mexico 675,449 540,036 Total long-lived assets $ 831,860 $ 802,800 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 2023 2022 2021 Year Ended December 31, 2023 2022 2021 United States $ 9,870,950 $ 20,071,385 $ 20,156,744 Mexico 7,189,803 5,817,051 1,317,407 Total revenue $ 17,060,753 $ 25,888,436 $ 21,474,151 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

WARRANTS

WARRANTS	12 Months Ended
WARRANTS	Dec. 31, 2023
Warrants
WARRANTS	NOTE 15 – WARRANTS 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 65,111 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 $ 330.00 , $ 264.00 165.00 247.50 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 10,606 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 $ 165.00 330.00 Contractual life of the warrants 7 years Current value of the underlying share $ 263.00 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 NOTE 15 – 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 17 for further details. As part of the October 27, 2022 securities purchase agreement, as described in Note 17, the Company issued 4,000 21,000 0.10 1,002,100 As part of the 2023 Convertible Note agreement described in Note 11, the Company issued to the Noteholder a warrant (the “January Warrant”) to purchase up to 286,670 150.00 the Noteholder can elect to receive upon such exercise the higher of (i) 0.85 Ordinary shares per warrant share, or 243,669 Ordinary shares in such exercise and (ii) “Net Number” of Ordinary shares (as defined in the warrant agreement) January 3, 2033 In order to incentivize the 2023 Convertible Note Noteholder to convert its note and as part of the Second Debt Modification Agreement, on June 30, 2023, the Company issued to the Noteholder a warrant to purchase 25,000 4.00 As additional consideration for a draw down under the 2023 Convertible Note on November 30, 2023 (see Note 11), the Company issued a warrant to purchase 366,303 150.00 the holder can elect to receive upon such exercise the higher of (i) 1 ordinary share per warrant share, equal to 366,303 Ordinary shares in such exercise and (ii) “Net Number” of Ordinary Shares (as define in the warrant agreement). As additional consideration for a draw down under the 2023 Convertible Note on December 18, 2023, the Company issued a warrant to purchase 25,000 4.00 In order to incentivize the 2023 Convertible Note Noteholder to convert its note, on December 20, 2023 the Company issued to the Noteholder a warrant to purchase 25,000 4.00 In accordance with the warrants agreements and effective for all of the warrants issued during the year ended December 31, 2023, the Company shall not effect the exercise of any portion of the warrant, and the Noteholder shall not have the right to exercise any portion of the warrant if, to the extent that after giving effect to such exercise, the Noteholder would beneficially own in excess of 4.99% or by election 9.99% of the ordinary shares outstanding immediately after giving effect to such exercise. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 15 – WARRANTS (CONTINUED) The warrants issued during the year ended December 31, 2023 are classified as a component of permanent stockholders’ equity within additional paid-in-capital because they are freestanding financial instruments that are legally detachable and separately exercisable from the equity instruments, are immediately exercisable, do not embody an obligation for the Company to repurchase its shares, permit the holders to receive a fixed number of common shares upon exercise, are indexed to the Company’s common stock and meet the equity classification criteria. In addition, such warrants do not provide any guarantee of value or return. The fair value of the warrants upon issuance was estimated using the Black-Scholes option pricing model using the following weighted-average assumptions: SUMMARY OF FAIR VALUE AT GRANT DATE Risk-free interest rate 3.72 4.28 % Remaining contractual term of warrants (years) 10 Expected volatility 60 65 % Annual dividend yield 0.00 % Fair value of common stock (per share) $ 3.60 21.10 Exercise price $ 4.00 150 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 Exercise Price Range Per Share Weighted Average Exercise Price Balance at December 31, 2021 52 - 4,165 $ 18.00 867.13 28.51 Granted 21,000 84,505 - 0.10 330.00 193.92 Forfeited - - - - - Converted - (5,133 ) - 165.00 330.00 210.03 Exercised (21,000 ) - - 0.10 0.10 Balance at December 31, 2022 52 79,372 4,165 18.00 867.13 233.28 Granted 727,973 - - 4.00 150.00 134.96 Forfeited - - - - - Converted - (66,044 ) - 165.00 330.00 247.88 Exercised - - - - Balance at December 31, 2023 728,025 13,328 4,165 $ 4.00 867.13 $ 136.66 (*) Only ordinary shares were adjusted in the February 5, 2024 reverse stock split. Series A, B, C, and D Warrants conversion price are 0.779 0.816 0.888 0.826 171 133 0.779 2,502 2,222 0.888 2,460 2,032 0.826 During the year ending December 31, 2023, 15,507 12,080 0.779 3,957 3,229 0.816 15,991 14,200 0.888 30,590 25,267 0.826

DEFINED CONTRIBUTION PLAN

DEFINED CONTRIBUTION PLAN	12 Months Ended
DEFINED CONTRIBUTION PLAN	Dec. 31, 2023
Retirement Benefits [Abstract]
DEFINED CONTRIBUTION PLAN	NOTE 16 - 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. 31,187 23,758 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
STOCKHOLDERS’ EQUITY	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 17 – STOCKHOLDERS’ EQUITY 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, not adjusted for post closing Ordinary reverse stock splits): 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 * Changed Series B Preferred Shares post-merger closing 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 NOTE 17 – STOCKHOLDERS’ EQUITY (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 March 23, 2023, the MAA was amended by the Company, and further amended on June 30, 2023. 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 $ 1.10 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 Unlimited $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares Unlimited 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. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 17 – STOCKHOLDERS’ EQUITY (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 February 5, 2024 reverse stock split, are as follows: Series A1-A: 0.015, Series A2: 0.022, Series A4: 0.015, Series B: 0.047, Series Seed: 0.01 (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 determined that, given the underlying economics in the value of the preferred shares before and after the capital raise, these transactions resulted 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 SPA 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 4,000 21,00 1,600 8,400 400,000 2,400 12,600 600,000 th 6,300 0.10 2,100 0.10 12,600 0.10 FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 17 – STOCKHOLDERS’ EQUITY (CONTINUED) Other Issuances of Shares During the Year Ended December 31, 2022 The Company issued a total 54,745 589,292 68,456 942,611 0.015 0.022 0.047 0.015 4,387 171 2,502 2,460 0.779 0.888 0.826 Other Issuances of Shares During the Year Ended December 31, 2023 The Company issued a total 1,244,461 2,714,409 560,926 6,245,771 59,804,176 0.015 0.022 0.015 0.047 547,758 15,507 3,957 15,991 30,590 0.779 0.816 0.888 0.826 The different classes of preferred stock issued are set forth below: SCHEDULE OF PREFERRED STOCK ISSUED December 31, 2023 December 31, 2022 Series Seed Preferred Shares 7,020 7,020 Series A1A Preferred Shares 1,169,847 3,884,256 Series A2 Preferred Shares 634,978 1,195,904 Series A4 Preferred Shares 160,927,463 1,854,644 Series B Preferred Shares 1,262,074 7,507,845 Total 164,001,382 14,449,669

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 18 - SUBSEQUENT EVENTS Management has evaluated subsequent events through May 3, 2024 the date that the consolidated financial statements were available for issuance. On February 5, 2024, 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 statement 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. 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 $ 1.10 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 Unlimited $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares Unlimited None On March 11, 2024, the Company entered into a Term Note Purchase Agreement with Freight Opportunities LLC pursuant to provide the Company with a term loan of $ 750,000 1 8

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
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, accounting for warrants, useful lives of internally developed software and property and equipment, fair value of convertible notes, impairment of long lived assets, 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 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 . Additionally, a portion of the Company’s cash is deposited in non-US accounts. The funds are held with financial institutions that offer deposit insurance and bear specific country and regional risks. The amounts over the insured limits as of December 31, 2023 and 2022 was $ 1,186,214 449,991 The financial assets that potentially subject the Company to concentration of credit risk is accounts receivable and unbilled receivables. At December 31, 2023, one customer accounted for 66 42 and 16 of the Company’s accounts receivable, respectively. For the year ended December 31, 2023, one customer accounted for 33 17 and 11 of the Company’s revenues, respectively. For the year ended December 31, 2021, one customer accounted for 37% of the Company’s revenues.
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, 2023 and 2022, 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 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, that may impact the collectability of outstanding receivables. 282,058 171,009
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, 2023 and 2022
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 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 Warrants classified as liabilities are recorded at fair value and are remeasured at each reporting date until settlement. Changes in fair value are recognized as a component of change in fair value of warrant liability in the consolidated statements of operations. The fair value of the warrant liabilities is estimated using a Black-Scholes option pricing formula. The warrant volatility assumption within the Black-Scholes model represents a Level 3 measurement within the fair value measurement hierarchy. Warrants classified as equity instruments are initially recognized at fair value and are not subsequently remeasured. The proceeds received from the sale of equity classified warrants and convertible note in a bundled transaction are allocated based on the relative fair values of warrants and convertible notes with no changes in fair value of warrants recognized after the issuance date and were recorded at the issuance date using a relative fair value allocation method. Equity classified warrants, which are issued as an inducement to the holder of convertible note to covert the note, are recognized as an expense equal to the fair value of the warrant in accordance with ASC 470-20, Debt with Conversion and Other Options. When equity classified warrants are issued to the convertible note holder as an additional consideration for the holder to provide additional funding under the existing convertible note agreement, the additional funding is allocated based on the residual fair value allocation method in which the fair value of the additional funding is first allocated to the convertible note and the remaining proceeds are allocated to the equity classified warrant.
Advertising	Advertising Advertising costs are expensed as incurred. Advertising costs amounted to $ 46,726 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, 2023 and 2022. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 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).
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 Transportation Brokerage Services The Company’s freight transportation brokerage services include Fr8App Full Truckload (“FTL”), providing a single customer the use of an entire truckload, and Fr8Now Less Than Truckload (“LTL), providing multiple customers the use of a partial truckload in each truck. Shippers contract with the Company to utilize the Company’s network of independent freight carriers to transport freight. Those shipments are the Company’s single performance obligations, arising under contracts the Company has entered into with customers that define the price for performance obligation and payment terms. The Company’s acceptance of the shipment request establishes enforceable rights and obligations for each contract. By accepting the shipper’s order, the Company has responsibility for transportation of the shipment from origin to destination. Under such contracts, revenue is recognized when performance obligations are satisfied, which generally represents the transit period from origin to destination by a third-party carrier which can vary based on origin and destination, or the capacity used. This is appropriate as the customer simultaneously receives and consumes the benefits as the Company performs its obligation. The Company determines revenue in-transit using the output method based on shipping milestones. Measure of revenue in-transit requires the application of judgment. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing services. Accessorial charges for fuel surcharge, loading and unloading, stop charges, and other immaterial charges are part of the consideration received for the single performance obligation of delivering shipments. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Dedicated Capacity Services The Company provides customers with dedicated shipment capacity for a specific period of time under Fr8Fleet. The current arrangements under Fr8Fleet include an obligation to provide weekly shipping capacity. The Company’s performance obligation in this arrangement is to provide the shipping capacity and the transaction price is fixed. Under such contracts, revenue is recognized when performance obligations are satisfied, which generally represents when trucks are provided to the shipper over the term of the agreement. The Company utilizes the output method for revenue recognition based on direct measurements of the value transferred to the customer, which is the number of trucks provided to the customer per day. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing services. 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. Through the Company’s freight brokerage services and dedicated capacity, 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, maintains discretion over pricing and is responsible for resolving customer claims. 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. A summary of the Company’s revenue by major service lines is as follows: SUMMARY OF COMPANY REVENUE BY MAJOR SERVICE LINE $’000 2023 2022 2021 Years Ended December 31, $’000 2023 2022 2021 Freight Transportation Brokerage 13,474,282 23,467,806 21,411,450 Dedicated Capacity 3,586,471 2,420,630 62,701 Total Revenue 17,060,753 25,888,436 21,474,151
Convertible Debt	Convertible Debt The Company elected the fair value option (“FVO”) of accounting under ASC 825-10, Financial Instruments (“ASC 825”), to record its convertible note issued in 2023 at fair value at issuance and subsequently remeasures to fair value each reporting period. The primary reason for electing the fair value option was for simplification and cost-benefit considerations of accounting for the convertible notes at fair value versus bifurcation of the embedded derivatives. The convertible note accounted for under the FVO represents a financial instrument containing embedded features which would otherwise be required to be bifurcated from the debt-host and recognized as separate derivative liabilities subject to initial and subsequent periodic estimated fair value measurements under ASC 815. The Company has elected to present interest expenses separately from changes in fair value and therefore interest associated with the convertible note is presented as interest expense in the consolidated statement of operations. All costs associated with the issuance of the convertible note accounted for using the FVO were expensed upon issuance. The fair value of the convertible note is determined using a binomial lattice model and classified as Level 3 in the fair value hierarchy.
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. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 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. 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 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 the 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 including those from warrants and convertible notes, if any, are not considered in the computation. At December 31, 2023 and 2022, there were 1,246,687 63,671
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 14 to the consolidated financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference rate reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting.” The ASU provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform. The amendments apply only to contracts and hedging relationships that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. The amendments are elective and are effective upon issuance. In December 2022, the FASB issued ASU 2022-06, “Reference rate reform (Topic 848): Deferral of the sunset date of Topic 848” which defers the expiration date for Topic 848 from December 31, 2022 until December 31, 2024. The Company is currently evaluating the potential impact of adopting this new accounting guidance, but does not expect the adoption of the standard to have a material impact on its consolidated financial statements. FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 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. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to reportable Segment Disclosures (ASU 2023-07), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and by extending the disclosure requirements to entities with a single reportable segment. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the potential impact of adopting this accounting standard update on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments require (i) enhanced disclosures in connection with an entity’s effective tax rate reconciliation and (ii) income taxes paid disaggregated by jurisdiction. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The amendments are effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of adopting this accounting standard update on its consolidated financial statements and disclosures.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2023
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
SUMMARY OF COMPANY REVENUE BY MAJOR SERVICE LINE	A summary of the Company’s revenue by major service lines is as follows: SUMMARY OF COMPANY REVENUE BY MAJOR SERVICE LINE $’000 2023 2022 2021 Years Ended December 31, $’000 2023 2022 2021 Freight Transportation Brokerage 13,474,282 23,467,806 21,411,450 Dedicated Capacity 3,586,471 2,420,630 62,701 Total Revenue 17,060,753 25,888,436 21,474,151

MERGER (Tables)

MERGER (Tables)	12 Months Ended
MERGER (Tables)	Dec. 31, 2023
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 25,777 * 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 52 * Series Seed Warrants 4,165 Equity Awards for Ordinary Shares 19,583 * Total Securities Issued in Merger 13,753,284 * Only ordinary shares were adjusted in the February 25, 2024 reverse stock split.
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, 2023
Capitalized Software
SCHEDULE OF CAPITALIZED SOFTWARE	Capitalized software consists of the following at: SCHEDULE OF CAPITALIZED SOFTWARE December 31, 2023 December 31, 2022 Capitalized software $ 3,594,249 $ 3,178,850 Accumulated amortization (2,823,116 ) (2,428,995 ) Capitalized software, net $ 771,133 $ 749,855
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 December 31, 2024 $ 386,591 2025 326,062 2026 58,480 Total $ 771,133

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
PROPERTY AND EQUIPMENT (Tables)	Dec. 31, 2023
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, 2023 December 31, 2022 Equipment $ 124,834 $ 84,806 Furniture and fixtures 9,517 9,517 Total cost 134,351 94,323 Accumulated depreciation (87,801 ) (66,716 ) Property and equipment, net $ 46,550 $ 27,607

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
ACCRUED EXPENSES (Tables)	Dec. 31, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	Accrued expenses consist of the following at: SCHEDULE OF ACCRUED EXPENSES December 31, 2023 December 31, 2022 Accrued freight costs $ 1,057,374 $ 947,372 Accrued payroll 716,278 416,039 Accrued value added tax 641,634 386,083 Accrued interest on convertible note 449,146 - Accrued professional services 1,006 41,554 Other accrued liabilities 15,367 3,527 Total accrued expenses $ 2,880,805 $ 1,794,575

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
SHARE-BASED COMPENSATION (Tables)	Dec. 31, 2023
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, 2023 and 2022 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 2023 2022 Risk-free interest rates 3.58 4.39 0.986 3.44 Expected life of options 5 5 Expected volatility 83.12 92.32 73.62 83.45 % 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, 2022 15,812 $ 133.59 Granted 33,477 179.00 Forfeited/Expired (5,771 ) 148.00 Exercised (4,364 ) 43.36 Balance at December 31, 2022 39,154 180.22 9.11 - Granted 37,490 18.23 Forfeited/Expired (1,383 ) 191.88 Exercised - - Balance at December 31, 2023 75,261 99.32 8.70 $ - Exercisable at December 31, 2023 17,311 $ 174.84 7.81 $ -
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, 2022 7,002 $ 58.80 Options granted 33,477 108.77 Options forfeited/cancelled (5,381 ) 77.70 Options vested (2,563 ) 38.00 At December 31, 2022 32,535 102.99 Options granted 37,490 12.37 Options forfeited/cancelled (424 ) 3.42 Options vested (11,651 ) 98.98 At December 31, 2023 57,950 $ 45.33
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, 2022 529 $ 138.74 Granted 2,373 175.32 Forfeited - - Exercised - - Vested (2,603 ) 167.67 Outstanding at December 31, 2022 299 138.74 Granted 2,000 17.76 Forfeited (13 ) 0.08 Exercised - - Vested (2,163 ) 28.19 Outstanding at December 31, 2023 123 $ 138.74

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
FAIR VALUE MEASUREMENT (Tables)	Dec. 31, 2023
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS	SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 As of December 31, 2023 Level 1 Level 2 Level 3 Liabilities: Convertible note $ - $ - $ 242,442 Total financial liabilities $ - $ - $ 242,442
SCHEDULE OF ROLLFORWARD FOR CONVERTIBLE NOTE	The following is a rollforward of balances for the convertible note for the year ended December 31, 2023: SCHEDULE OF ROLLFORWARD FOR CONVERTIBLE NOTE Issuance consideration $ 7,675,000 Allocation of consideration to warrants (1,214,594 ) Conversions to Ordinary shares at fair value (755,470 ) Conversions to Preferred shares at fair value (5,117,098 ) Changes in fair value (345,396 ) Fair value at December 31, 2023 $ 242,442
SCHEDULE OF FAIR VALUE ON VALUATION TECHNIQUE	SCHEDULE OF FAIR VALUE ON VALUATION TECHNIQUE Risk-free interest rate 3.84 4.31 Remaining contractual term (years) 5 6 Expected volatility 62 67 Annual dividend yield 0.00 Fair value of common stock (per share) $ 3 17 Borrowing rate 13.5 14.5

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE	The components of the provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021 are as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE December 31, 2023 December 31, 2022 December 31, 2021 Current: Federal - - State 16,625 41,401 Foreign 88,323 49,110 40,264 Total Current 104,948 90,511 40,264 Deferred: Federal - - State - - Total Deferred - - - Income tax expense 104,948 90,511 40,264
SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES	The Company’s provision for income taxes for the years ended December 31, 2023, 2022 and 2021 is based on the annual effective tax rate, plus discrete items. The following table presents the provision for income taxes and the effective tax rates for and years ended December 31, 2023, 2022 and 2021: SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES December 31, 2023 December 31, 2022 December 31, 2021 Loss before income tax provision (9,222,658 ) (8,096,671 ) (8,160,541 ) Income tax provision 104,948 90,511 40,264 Effective tax rate -1.14 % -1.1 % -0.5 %
SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE	The following is a reconciliation of the income tax at the federal statutory rate to the Company’s provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021: SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE December 31, 2023 December 31, 2022 December 31, 2021 Income tax expense at federal statutory rate $ (1,936,758 ) 21.0 % $ (1,700,301 ) 21.0 % $ (1,713,714 ) 21.0 % State and local income taxes net of federal tax benefit (24,108 ) -0.2 % (17,442 ) 0.2 % (21,754 ) 0.3 % Return to provision adjustments (205,230 ) 2.2 % 911,500 -11.3 % 5,119 -0.1 % Change in valuation allowance 1,952,580 -21.2 % 720,407 -8.9 % 2,295,280 -28.1 % Permanent differences (227,266 ) 2.64 % 166,816 -2.1 % (528,281 ) 6.5 % Earnings of foreign subsidiary 457,407 -4.9 % - - - - Foreign taxes 88,323 -0.9 % - - - - Other - net $ - 9,531 -0.1 % 3,614 -0.0 % Income tax expense (benefit) $ 104,948 -1.14 % $ 90,511 -1.1 % $ 40,264 -0.5 %
SCHEDULE OF DEFERRED TAXABLE INCOME	SCHEDULE OF DEFERRED TAXABLE INCOME 12/31/2035 $ 35,945 12/31/2036 836,622 12/31/2037 1,922,017 Indefinite 30,274,563 Total Federal Net Operating Loss Carryforward $ 33,069,147
SCHEDULE OF DEFERRED TAX ASSET	The tax effects of temporary differences and related deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSET December 31, 2023 December 31, 2022 Accrued expenses $ - $ 65,011 Fixed and intangible assets 173,462 (54,219 ) Allowance for doubtful accounts 53,807 13,884 Stock Options 102,019 - Warrant amortization 208,103 211,142 Net operating loss - Federal 6,944,521 5,328,850 Net operating loss - States 225,032 189,695 Deferred tax asset, gross 7,706,944 5,754,363 Less: Valuation allowance (7,706,944 ) (5,754,363 ) Net deferred tax asset $ - $ -

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
SEGMENT INFORMATION (Tables)	Dec. 31, 2023
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT LONG-LIVED ASSETS	SCHEDULE OF SEGMENT LONG-LIVED ASSETS December 31, 2023 December 31, 2022 United States $ 156,411 $ 262,764 Mexico 675,449 540,036 Total long-lived assets $ 831,860 $ 802,800
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 2023 2022 2021 Year Ended December 31, 2023 2022 2021 United States $ 9,870,950 $ 20,071,385 $ 20,156,744 Mexico 7,189,803 5,817,051 1,317,407 Total revenue $ 17,060,753 $ 25,888,436 $ 21,474,151

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
WARRANTS (Tables)	Dec. 31, 2023
Short-Term Debt [Line Items]
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 Exercise Price Range Per Share Weighted Average Exercise Price Balance at December 31, 2021 52 - 4,165 $ 18.00 867.13 28.51 Granted 21,000 84,505 - 0.10 330.00 193.92 Forfeited - - - - - Converted - (5,133 ) - 165.00 330.00 210.03 Exercised (21,000 ) - - 0.10 0.10 Balance at December 31, 2022 52 79,372 4,165 18.00 867.13 233.28 Granted 727,973 - - 4.00 150.00 134.96 Forfeited - - - - - Converted - (66,044 ) - 165.00 330.00 247.88 Exercised - - - - Balance at December 31, 2023 728,025 13,328 4,165 $ 4.00 867.13 $ 136.66 (*) Only ordinary shares were adjusted in the February 5, 2024 reverse stock split.
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 $ 165.00 330.00 Contractual life of the warrants 7 years Current value of the underlying share $ 263.00 Expected volatility 88.05 % Expected dividend yield 0.00 % Risk-free interest rates 1.98 %
December Promissory Note [Member]
Short-Term Debt [Line Items]
SUMMARY OF FAIR VALUE AT GRANT DATE	The fair value of the warrants upon issuance was estimated using the Black-Scholes option pricing model using the following weighted-average assumptions: SUMMARY OF FAIR VALUE AT GRANT DATE Risk-free interest rate 3.72 4.28 % Remaining contractual term of warrants (years) 10 Expected volatility 60 65 % Annual dividend yield 0.00 % Fair value of common stock (per share) $ 3.60 21.10 Exercise price $ 4.00 150

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	12 Months Ended
STOCKHOLDERS’ EQUITY (Tables)	Dec. 31, 2023
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 $ 1.10 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 Unlimited $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares Unlimited None
SCHEDULE OF PREFERRED STOCK ISSUED	The different classes of preferred stock issued are set forth below: SCHEDULE OF PREFERRED STOCK ISSUED December 31, 2023 December 31, 2022 Series Seed Preferred Shares 7,020 7,020 Series A1A Preferred Shares 1,169,847 3,884,256 Series A2 Preferred Shares 634,978 1,195,904 Series A4 Preferred Shares 160,927,463 1,854,644 Series B Preferred Shares 1,262,074 7,507,845 Total 164,001,382 14,449,669
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, not adjusted for post closing Ordinary reverse stock splits): 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 * Changed Series B Preferred Shares post-merger closing
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 $ 1.10 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 Unlimited $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares Unlimited None

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	12 Months Ended
SUBSEQUENT EVENTS (Tables)	Dec. 31, 2023
Subsequent Events [Abstract]
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 $ 1.10 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 Unlimited $ 0.0001 Series B Preferred Shares 21,000,000 $ 0.0001 Blank Check Preferred Shares Unlimited None

LIQUIDITY AND GOING CONCERN (De

LIQUIDITY AND GOING CONCERN (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 39,315,551	$ 29,987,945
Shareholders' equity	2,626,981	3,131,463	$ (8,971,492)	$ (1,147,016)
Working capital	2,000,000
Debt current	2,800,000
Cash and cash equivalents	$ 1,560,105	$ 1,013,000	$ 3,152,993

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT (Details)	Dec. 31, 2023
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]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	Useful Life, Shorter of Lease Term or Asset Utility [Member]

SUMMARY OF COMPANY REVENUE BY M

SUMMARY OF COMPANY REVENUE BY MAJOR SERVICE LINE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Product Information [Line Items]
Total Revenue	$ 17,060,753	$ 25,888,436	$ 21,474,151
Frieght Transportation Brokerage [Member]
Product Information [Line Items]
Total Revenue	13,474,282	23,467,806	21,411,450
Dedicated Capacity [Member]
Product Information [Line Items]
Total Revenue	$ 3,586,471	$ 2,420,630	$ 62,701

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Product Information [Line Items]
Federal deposit insurance corporation	$ 250,000
Insured limits	1,186,214	$ 449,991
Allowance for credit losses	282,058	171,009
Advertising costs	$ 46,726	$ 43,299	$ 421
Ordinary share equivalents	1,246,687	63,671
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer One [Member]
Product Information [Line Items]
Concentration risk, percentage	66%	42%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer Two [Member]
Product Information [Line Items]
Concentration risk, percentage		16%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Customer One [Member]
Product Information [Line Items]
Concentration risk, percentage	33%	17%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Customer Two [Member]
Product Information [Line Items]
Concentration risk, percentage		11%

SCHEDULE OF SECURITIES ISSUED I

SCHEDULE OF SECURITIES ISSUED IN MERGER (Details) - shares			12 Months Ended
SCHEDULE OF SECURITIES ISSUED IN MERGER (Details) - shares		Feb. 14, 2022	Dec. 31, 2022
Hudson Capital [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		13,753,284
Hudson Capital [Member] \| Series A2 Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		1,264,360
Hudson Capital [Member] \| Series A1A Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		4,473,547
Hudson Capital [Member] \| Series Seed Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		7,020
Hudson Capital [Member] \| Series B Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		7,389,850
Hudson Capital [Member] \| Series A4 Preferred Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		568,930
Hudson Capital [Member] \| Series Seed Warrants [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger		4,165
Hudson Capital [Member] \| Equity Awards for Ordinary Shares [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	[1]	19,583
Common Stock [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	[2]		63,515
Common Stock [Member] \| Hudson Capital [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	[1]	25,777
Warrant [Member] \| Hudson Capital [Member]
Business Acquisition [Line Items]
Total Securities Issued in Merger	[1]	52

[1]Only ordinary shares were adjusted in the February 25, 2024 reverse stock split.[2]Reflects reverse split of 10:1 as approved by the Board of Directors of Freight Technologies, Inc on January 26, 2024, effective as of February 5, 2024.

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)				12 Months Ended
MERGER (Details Narrative)	Oct. 27, 2022 $ / shares shares	May 24, 2022 USD ($) shares	Feb. 09, 2022 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Apr. 24, 2024 USD ($)	Nov. 07, 2022 $ / shares shares	Oct. 28, 2022 $ / shares shares	Dec. 29, 2021 $ / shares shares	Sep. 16, 2021 $ / shares shares
Business Acquisition [Line Items]
Stock issued, shares	4,000
Aggregate purchase price \| $					$ 2,100
Conversion stock share issued				1,244,461	54,745
Debt instrument carrying amount \| $						$ 2,450,000
Stock issued \| $					$ 483,000
Preferred stock issued				164,001,382	14,449,669
Purchase of warrant	6,300						12,600	2,100
Warrant exercise price \| $ / shares	$ 0.10						$ 0.10	$ 0.10
Series B Preferred Stock [Member]
Business Acquisition [Line Items]
Conversion stock share issued				4,049,887
Conversion stock amount issued \| $				$ 7,965,626
Convertible debt \| $						$ 7,613,292
Interest payable current \| $				$ 352,334
Preferred stock issued				1,262,074	7,507,845
Series B Preferred Stock [Member] \| Preferred Stock [Member]
Business Acquisition [Line Items]
Aggregate purchase price \| $
Stock issued \| $
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]
Warrant exercise price \| $ / shares			$ 330
Series A Warrant [Member] \| Preferred Stock [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			162,577
Series B Warrant [Member]
Business Acquisition [Line Items]
Warrant exercise price \| $ / shares			$ 264
Series B Warrant [Member] \| Preferred Stock [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			162,577
Series C Warrant [Member]
Business Acquisition [Line Items]
Warrant exercise price \| $ / shares			$ 165
Series C Warrant [Member] \| Preferred Stock [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			162,577
Series D Warrant [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			65,111
Warrant exercise price \| $ / shares			$ 247.50
Series D Warrant [Member] \| Preferred Stock [Member]
Business Acquisition [Line Items]
Warrants to purchase shares			162,577
Series A3 Preferred Stock [Member]
Business Acquisition [Line Items]
Preferred stock issued									2,376,439	1,090,909
Purchase of warrant									2,376,439	1,891,928
Warrant exercise price \| $ / shares									$ 1.125	$ 1.125
Share exchange ratio									1.26855	1.26855
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			10,606
Settlement Agreement [Member]
Business Acquisition [Line Items]
Stock issued \| $		$ 900,000
Notes payable \| $		$ 400,000
share issued		2,500
Debt instrument periodic payment \| $					$ 100,000

SCHEDULE OF CAPITALIZED SOFTWAR

SCHEDULE OF CAPITALIZED SOFTWARE (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Capitalized Software
Capitalized software	$ 3,594,249	$ 3,178,850
Accumulated amortization	(2,823,116)	(2,428,995)
Capitalized software, net	$ 771,133	$ 749,855

SCHEDULE OF ESTIMATED AMORTIZAT

SCHEDULE OF ESTIMATED AMORTIZATION CAPITALIZED SOFTWARE (Details)	Dec. 31, 2023 USD ($)
Capitalized Software
2024	$ 386,591
2025	326,062
2026	58,480
Total	$ 771,133

CAPITALIZED SOFTWARE (Details N

CAPITALIZED SOFTWARE (Details Narrative) - USD ($)	12 Months Ended
CAPITALIZED SOFTWARE (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capitalized Software
Amortization expense	$ 385,488	$ 225,447	$ 285,069

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total cost	$ 134,351	$ 94,323
Accumulated depreciation	(87,801)	(66,716)
Property and equipment, net	46,550	27,607
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost	124,834	84,806
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 9,517	$ 9,517

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 19,110	$ 17,887	$ 16,130

SCHEDULE OF ACCRUED EXPENSES (D

SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued freight costs	$ 1,057,374	$ 947,372
Accrued payroll	716,278	416,039
Accrued value added tax	641,634	386,083
Accrued interest on convertible note	449,146
Accrued professional services	1,006	41,554
Other accrued liabilities	15,367	3,527
Total accrued expenses	$ 2,880,805	$ 1,794,575

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, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Risk-free interest rates, minimum	3.58%	0.986%
Risk-free interest rates, maximum	4.39%	3.44%
Expected life of options	5 years	5 years
Expected volatility, minimum	83.12%	73.62%
Expected volatility, maximum	92.32%	83.45%
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, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of Options, Beginning	39,154	15,812
Weighted Average Exercise Price, Beginning Balance	$ 180.22	$ 133.59
Number of Options, Granted	37,490	33,477
Weighted Average Exercise Price Options, Granted	$ 18.23	$ 179
Number of Options, Forfeited/Expired	(1,383)	(5,771)
Weighted Average Exercise Price Options, Forfeited/Expired	$ 191.88	$ 148
Number of Options, Exercised		(4,364)
Weighted Average Exercise Price Options, Exercised		$ 43.36
Weighted Average Remaining Contractual Term, Ending Balance	8 years 8 months 12 days	9 years 1 month 9 days
Aggregate intrinsic value, beginning balance
Number of Options, Ending	75,261	39,154
Weighted Average Exercise Price, Ending Balance	$ 99.32	$ 180.22
Aggregate intrinsic value, ending balance
Number of Options, Exercisable	17,311
Weighted Average Exercise Price, Exercisable	$ 174.84
Weighted Average Remaining Contractual Term, Exercisable	7 years 9 months 21 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, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Non-vested Options Outstanding, Beginning Balance	32,535	7,002
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 102.99	$ 58.80
Non-vested Options Outstanding, Options granted	37,490	33,477
Weighted-Average Grant Date Fair Value, options granted	$ 12.37	$ 108.77
Non-vested Options Outstanding, Options forfeited/cancelled	(424)	(5,381)
Weighted-Average Grant Date Fair Value, Options forfeited/cancelled	$ 3.42	$ 77.70
Non-vested Options Outstanding, Options vested	(11,651)	(2,563)
Weighted-Average Grant Date Fair Value, Options vested	$ 98.98	$ 38
Non-vested Options Outstanding, Ending Balance	57,950	32,535
Weighted-Average Grant Date Fair Value, Ending Balance	$ 45.33	$ 102.99

SUMMARY OF RESTRICTED STOCK AWA

SUMMARY OF RESTRICTED STOCK AWARDS (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted Stock Awards, Beginning Balance	299	529
Weighted-Average Grant Date Fair Value Per Share, Beginning Balance	$ 138.74	$ 138.74
Restricted Stock Awards, Granted	2,000	2,373
Weighted-Average Grant Date Fair Value Per Share, Granted	$ 17.76	$ 175.32
Restricted Stock Awards, Forfeited	(13)
Weighted-Average Grant Date Fair Value Per Share, Forfeited	$ 0.08
Restricted Stock Awards, Exercised
Weighted-Average Grant Date Fair Value Per Share, Exercised
Restricted Stock Awards, Vested	(2,163)	(2,603)
Weighted-Average Grant Date Fair Value Per Share, Vested	$ 28.19	$ 167.67
Restricted Stock Awards, Ending Balance	123	299
Weighted-Average Grant Date Fair Value Per Share, Ending Balance	$ 138.74	$ 138.74

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	12 Months Ended
SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation expense	$ 1,092,820	$ 555,156	$ 171,500
Unrecognized share-based compensation expense	$ 2,752,366
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	2,000	2,373
Stock compensation expense	$ 60,967	$ 449,236
Unrecognized share-based compensation expense	$ 15,867
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	150,000

SHORT-TERM BORROWINGS (Details

SHORT-TERM BORROWINGS (Details Narrative) - USD ($)		12 Months Ended
SHORT-TERM BORROWINGS (Details Narrative) - USD ($)	Jul. 12, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 07, 2019
Line of Credit Facility [Line Items]
Interest expense		$ 807,939	$ 907,013	$ 1,136,096
Revolving Credit Facility [Member] \| Two Thousand Nineteen Note [Member]
Line of Credit Facility [Line Items]
Line of credit principal amount withdrawn	$ 5,000,000
Debt instrument interest rate percentage					5.25%
Line of credit interest rate		8.50%
Line of credit maturity date		Jan. 31, 2025
Interest expense		$ 350,890	$ 382,655	$ 263,788

SCHEDULE OF FAIR VALUE, ASSETS

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	$ 242,442
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities
Fair Value, Inputs, Level 1 [Member] \| Convertible Note [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities
Fair Value, Inputs, Level 2 [Member] \| Convertible Note [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	242,442
Fair Value, Inputs, Level 3 [Member] \| Convertible Note [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	$ 242,442

SCHEDULE OF ROLLFORWARD FOR CON

SCHEDULE OF ROLLFORWARD FOR CONVERTIBLE NOTE (Details)	12 Months Ended
SCHEDULE OF ROLLFORWARD FOR CONVERTIBLE NOTE (Details)	Dec. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
Issuance consideration	$ 7,675,000
Allocation of consideration to warrants	(1,214,594)
Conversions to Ordinary shares at fair value	(755,470)
Conversions to Preferred shares at fair value	(5,117,098)
Changes in fair value	(345,396)
Fair value at December 31, 2023	$ 242,442

SCHEDULE OF FAIR VALUE ON VALUA

SCHEDULE OF FAIR VALUE ON VALUATION TECHNIQUE (Details)	12 Months Ended
SCHEDULE OF FAIR VALUE ON VALUATION TECHNIQUE (Details)	Dec. 31, 2023 $ / shares
Measurement Input, Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	0
Minimum [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	3.84
Minimum [Member] \| Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Remaining contractual term	5 years
Minimum [Member] \| Measurement Input, Option Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	62
Minimum [Member] \| Measurement Input, Share Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Annual dividend yield	$ 3
Minimum [Member] \| Measurement Input, Default Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	13.5
Maximum [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	4.31
Maximum [Member] \| Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Remaining contractual term	6 years
Maximum [Member] \| Measurement Input, Option Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	67
Maximum [Member] \| Measurement Input, Share Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Annual dividend yield	$ 17
Maximum [Member] \| Measurement Input, Default Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Borrowing rate	14.5

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)				1 Months Ended				12 Months Ended
CONVERTIBLE DEBT (Details Narrative) - USD ($)	Dec. 20, 2023	Dec. 18, 2023	Jan. 03, 2023	Nov. 30, 2023	Oct. 31, 2023	Aug. 31, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 30, 2023	Apr. 24, 2023	Feb. 28, 2023	Jan. 31, 2023	Nov. 07, 2022	Oct. 28, 2022	Oct. 27, 2022
Short-Term Debt [Line Items]
Warrant exercise price															$ 0.10	$ 0.10	$ 0.10
Fair value warrants									$ 128,051	$ (497,759)
Change in fair value of convertible note								345,396
Twenty Twenty Three Convertible Note [Member]
Short-Term Debt [Line Items]
Debt instrument repurchase amount							$ 5,274,725					$ 1,153,846	$ 4,120,879	$ 4,120,879
Debt instrument repurchase amount							4,800,000
Debt instrument convertible conversion price			$ 1
Debt conversion original debt amount			$ 500,000
Debt instrument description			(i) the Prime Rate plus 4% per annum, or (ii) 9% and (b) for payments made in ordinary shares, at a rate equal to the greater of (i) the Prime Rate plus 6% per annum, or (ii) nine 9%. The Company may pay such interest (i) in cash or (ii) in such number ordinary shares as is determined in the Note.
Debt instrument face amount percentage			110%
Cash												1,050,000	$ 3,750,000	$ 3,750,000
Twenty Twenty Three Convertible Note [Member] \| Note Agreement [Member]
Short-Term Debt [Line Items]
Warrants to purchase common stock			286,670
Warrant exercise price			$ 150
Twenty Twenty Three Convertible Note [Member] \| Modification Agreement [Member]
Short-Term Debt [Line Items]
Debt instrument repurchase amount												6,868,132
Debt instrument repurchase amount												6,250,000
Debt instrument fee amount												9,000,000
Debt instrument annual principal payment												$ 9,890,110
Twenty Twenty Three Convertible Note [Member] \| Tranche First [Member]
Short-Term Debt [Line Items]
Debt instrument repurchase amount			$ 1,813,187
Convertible debt							1,650,000
Debt instrument repurchase amount			1,650,000
Twenty Twenty Three Convertible Note [Member] \| Tranche Second [Member]
Short-Term Debt [Line Items]
Debt instrument repurchase amount			1,208,791
Convertible debt							1,100,000
Debt instrument repurchase amount			1,100,000
Twenty Twenty Three Convertible Note [Member] \| Tranche Third [Member]
Short-Term Debt [Line Items]
Debt instrument repurchase amount			3,571,429
Convertible debt							2,050,000
Debt instrument repurchase amount			3,250,000
Twenty Twenty Three Convertible Note [Member] \| Noteholder [Member]
Short-Term Debt [Line Items]
Debt instrument repurchase amount		$ 1,120,879	$ 6,593,407	$ 1,098,902	$ 939,560			$ 1,040,000			$ 939,560
Debt instrument interest rate percentage			9%
Convertible debt			$ 593,407
Debt instrument maturity date			Jan. 03, 2029
Debt instrument repurchase amount							$ 3,500,000
Debt instrument convertible conversion price	$ 4		$ 2.30				$ 0.159	$ 1.40
Debt conversion original debt amount	$ 3,554,065
Warrants to purchase common stock	25,000	25,000		366,303			25,000
Warrant exercise price	$ 4	$ 4		$ 150			$ 4
Debt conversion, amount	$ 3,554,065	$ 1,020,000		$ 1,000,000	$ 550,000	$ 305,000	$ 3,500,000
Debt conversion, shares	0.66677						66.67
Fair value warrants							$ 81,840
[custom:FairValueOfWarrant]	$ 47,420
Share price								$ 725,836
Change in fair value of convertible note								$ 345,396
Interest expense								$ 449,147
Twenty Twenty Three Convertible Note [Member] \| Noteholder [Member] \| Minimum [Member]
Short-Term Debt [Line Items]
Fair value warrants							5,274,725
Twenty Twenty Three Convertible Note [Member] \| Noteholder [Member] \| Maximum [Member]
Short-Term Debt [Line Items]
Fair value warrants							$ 1,774,725

SCHEDULE OF COMPONENTS OF INCOM

SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal
State	16,625	41,401
Foreign	88,323	49,110	$ 40,264
Total Current	104,948	90,511	40,264
Federal
State
Total Deferred
Income tax expense	$ 104,948	$ 90,511	$ 40,264

SCHEDULE OF PROVISION AND EFFEC

SCHEDULE OF PROVISION AND EFFECTIVE TAX RATES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Loss before income tax provision	$ (9,222,658)	$ (8,096,671)	$ (8,160,541)
Income tax provision	$ 104,948	$ 90,511	$ 40,264
Effective tax rate	(1.14%)	(1.10%)	(0.50%)

SCHEDULE OF RECONCILIATION EFFE

SCHEDULE OF RECONCILIATION EFFECTIVE AND STATUTORY TAX RATE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at federal statutory rate	$ (1,936,758)	$ (1,700,301)	$ (1,713,714)
Income tax expense (benefit) at federal statutory rate	21%	21%	21%
Income tax expense (benefit) at federal statutory rate	$ (24,108)	$ (17,442)	$ (21,754)
Income tax expense (benefit) at federal statutory rate	(0.20%)	0.20%	0.30%
Income tax expense (benefit) at federal statutory rate	$ (205,230)	$ 911,500	$ 5,119
Income tax expense (benefit) at federal statutory rate	2.20%	(11.30%)	(0.10%)
Income tax expense (benefit) at federal statutory rate	$ 1,952,580	$ 720,407	$ 2,295,280
Income tax expense (benefit) at federal statutory rate	(21.20%)	(8.90%)	(28.10%)
Income tax expense (benefit) at federal statutory rate	$ (227,266)	$ 166,816	$ (528,281)
Income tax expense (benefit) at federal statutory rate	2.64%	(2.10%)	6.50%
Income tax expense (benefit) at federal statutory rate	$ 457,407
Income tax expense (benefit) at federal statutory rate	(4.90%)
Income tax expense (benefit) at federal statutory rate	$ 88,323
Income tax expense (benefit) at federal statutory rate	(0.90%)
Income tax expense (benefit) at federal statutory rate		$ 9,531	$ 3,614
Income tax expense (benefit) at federal statutory rate		(0.10%)	(0.00%)
Income tax expense (benefit) at federal statutory rate	$ 104,948	$ 90,511	$ 40,264
Income tax expense (benefit) at federal statutory rate	(1.14%)	(1.10%)	(0.50%)

SCHEDULE OF DEFERRED TAXABLE IN

SCHEDULE OF DEFERRED TAXABLE INCOME (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 33,069,147	$ 25,375,000	$ 17,817,000
Tax Cuts Jobs Act Period One [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	35,945
Tax Cuts Jobs Act Period Two [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	836,622
Tax Cuts Jobs Act Period Three [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,922,017
Indefinite [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 30,274,563

SCHEDULE OF DEFERRED TAX ASSET

SCHEDULE OF DEFERRED TAX ASSET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Accrued expenses		$ 65,011
Fixed and intangible assets	173,462	(54,219)
Allowance for doubtful accounts	53,807	13,884
Stock Options	102,019
Warrant amortization	208,103	211,142
Net operating loss - Federal	6,944,521	5,328,850
Net operating loss - States	225,032	189,695
Deferred tax asset, gross	7,706,944	5,754,363
Less: Valuation allowance	(7,706,944)	(5,754,363)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
INCOME TAXES (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Permanent differences percentage	21%	21%	21%
Net operating losses	$ 33,069,147	$ 25,375,000	$ 17,817,000
Net operating losses expiration	NOLs expire from 2035 to 2042
Valuation allowance	$ 7,706,944	$ 5,754,363
Increased in valuation allowance	$ 1,952,580

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	1 Months Ended			12 Months Ended
LEASES (Details Narrative) - USD ($)	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating lease, term of contract	12 months	12 months	12 months
Lease expiration date	Nov. 01, 2024	Nov. 01, 2023	Oct. 31, 2022
Rent expense				$ 101,000	$ 118,000

SCHEDULE OF SEGMENT LONG-LIVED

SCHEDULE OF SEGMENT LONG-LIVED ASSETS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 831,860	$ 802,800
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	156,411	262,764
MEXICO
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 675,449	$ 540,036

SCHEDULE OF REVENUE BY GEOGRAPH

SCHEDULE OF REVENUE BY GEOGRAPHIC AREA OF CUSTOMERS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 17,060,753	$ 25,888,436	$ 21,474,151
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	9,870,950	20,071,385	20,156,744
MEXICO
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 7,189,803	$ 5,817,051	$ 1,317,407

SUMMARY OF FAIR VALUE AT GRANT

SUMMARY OF FAIR VALUE AT GRANT DATE (Details)	Dec. 31, 2023 $ / shares	Nov. 07, 2022 $ / shares	Oct. 28, 2022 $ / shares	Oct. 27, 2022 $ / shares	Feb. 09, 2022 $ / shares
Short-Term Debt [Line Items]
Exercise price of the warrants		$ 0.10	$ 0.10	$ 0.10
February Promissory Note [Member] \| Measurement Input, Expected Term [Member]
Short-Term Debt [Line Items]
Contractual life of the warrants					7 years
February Promissory Note [Member] \| Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Current value of the underlying share					$ 263
February Promissory Note [Member] \| Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Expected dividend yield					88.05
February Promissory Note [Member] \| Measurement Input, Expected Dividend Rate [Member]
Short-Term Debt [Line Items]
Expected dividend yield					0
February Promissory Note [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Expected dividend yield					1.98
February Promissory Note [Member] \| Minimum [Member] \| Measurement Input, Exercise Price [Member]
Short-Term Debt [Line Items]
Exercise price of the warrants					$ 165
February Promissory Note [Member] \| Maximum [Member] \| Measurement Input, Exercise Price [Member]
Short-Term Debt [Line Items]
Exercise price of the warrants					$ 330
December Promissory Note [Member] \| Measurement Input, Expected Term [Member]
Short-Term Debt [Line Items]
Contractual life of the warrants	10 years
December Promissory Note [Member] \| Measurement Input, Expected Dividend Rate [Member]
Short-Term Debt [Line Items]
Expected dividend yield					0
December Promissory Note [Member] \| Minimum [Member] \| Measurement Input, Exercise Price [Member]
Short-Term Debt [Line Items]
Exercise price of the warrants	$ 4
Fair value of common stock (per share)	$ 3.60
December Promissory Note [Member] \| Minimum [Member] \| Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Expected dividend yield	60
December Promissory Note [Member] \| Minimum [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Expected dividend yield	3.72
December Promissory Note [Member] \| Maximum [Member] \| Measurement Input, Exercise Price [Member]
Short-Term Debt [Line Items]
Exercise price of the warrants	$ 150
Fair value of common stock (per share)	$ 21.10
December Promissory Note [Member] \| Maximum [Member] \| Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Expected dividend yield	65
December Promissory Note [Member] \| Maximum [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Expected dividend yield	4.28

SUMMARY OF WARRANT ACTIVITY (De

SUMMARY OF WARRANT ACTIVITY (Details) - $ / shares		12 Months Ended
SUMMARY OF WARRANT ACTIVITY (Details) - $ / shares		Dec. 31, 2023	Dec. 31, 2022
Weighted average exercise price, beginning balance		$ 233.28	$ 28.51
Weighted average exercise price, granted		134.96	193.92
Weighted average exercise price, forfeited
Weighted average exercise price, converted		247.88	210.03
Weighted average exercise price, exercised			0.10
Weighted average exercise price, ending balance		136.66	233.28
Minimum [Member]
Exercise price range per share, beginning balance		18	18
Exercise price range per share, granted		4	0.10
Exercise price range per share, converted		165	165
Exercise price range per share, ending balance		4	18
Maximum [Member]
Exercise price range per share, beginning balance		867.13	867.13
Exercise price range per share, granted		150	330
Exercise price range per share, converted		330	330
Exercise price range per share, ending balance		$ 867.13	$ 867.13
Common Stock [Member]
Number of series seed shares warrants, beginning balance	[1]	52	52
Number of series seed shares warrants, granted	[1]	727,973	21,000
Number of series seed shares warrants, forfeited	[1]
Number of series seed shares warrants, converted	[1]
Number of series seed shares warrants, exercised	[1]		(21,000)
Number of series seed shares warrants, ending balance	[1]	728,025	52
ABCD Warrants [Member]
Number of series seed shares warrants, beginning balance	[1]	79,372
Number of series seed shares warrants, granted	[1]		84,505
Number of series seed shares warrants, forfeited	[1]
Number of series seed shares warrants, converted	[1]	(66,044)	(5,133)
Number of series seed shares warrants, exercised	[1]
Number of series seed shares warrants, ending balance	[1]	13,328	79,372
Series Seed Preferred Warrants [Member]
Number of series seed shares warrants, beginning balance		4,165	4,165
Number of series seed shares warrants, granted	[1]
Number of series seed shares warrants, forfeited
Number of series seed shares warrants, converted	[1]
Number of series seed shares warrants, exercised
Number of series seed shares warrants, ending balance		4,165	4,165
Warrant [Member]
Exercise price range per share, exercised			$ 0.10

[1]Only ordinary shares were adjusted in the February 5, 2024 reverse stock split.

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)

12 Months Ended

Nov. 30, 2023

Oct. 27, 2022

Feb. 09, 2022

Dec. 31, 2023

Dec. 31, 2022

Dec. 20, 2023

Dec. 18, 2023

Jun. 30, 2023

Nov. 07, 2022

Oct. 28, 2022

Exercise price of warrants

$ 0.10

Ordinary shares issued

4,000

Number of shares issued, value

$ 2,100

Stock issued upon warrants exercise

21,000

Consideration on warrants exercise

$ 1,002,100

Common Stock [Member]

Warrants converted into ordinary shares

Ordinary shares issued

4,000

25,387

[1]

Number of shares issued, value

$ 1,000,000

$ 27,926

Stock issued upon warrants exercise

[1]

54,776

Consideration on warrants exercise

$ 60,253

Warrants converted into ordinary shares

[1]

54,745

January Warrant [Member]

Warrants converted into ordinary shares

286,670

Exercise price of warrants

$ 150

Warrants exercise, description

the Noteholder can elect to receive upon such exercise the higher of (i) 0.85 Ordinary shares per warrant share, or 243,669
Ordinary shares in such exercise and (ii) “Net Number” of Ordinary shares (as defined in the warrant agreement)

Warrants expiration date

Jan. 03, 2033

June Warrant [Member]

Warrants converted into ordinary shares

25,000

Exercise price of warrants

$ 4

November Warrant [Member]

Warrants converted into ordinary shares

366,303

Exercise price of warrants

$ 150

Warrants exercise, description

the holder can elect to receive upon such exercise the higher of (i) 1 ordinary share per warrant share, equal to
366,303 Ordinary shares in such exercise and (ii) “Net Number” of Ordinary Shares (as define in the warrant agreement).

First December Warrant [Member]

Warrants converted into ordinary shares

25,000

Exercise price of warrants

$ 4

Second December Warrant [Member]

Warrants converted into ordinary shares

25,000

Exercise price of warrants

$ 4

Warrants exercise, description

the Noteholder would beneficially own in excess of 4.99% or by election 9.99% of the ordinary shares outstanding immediately
after giving effect to such exercise.

Securities Purchase Agreement [Member] | Private Placement [Member]

Number of shares issued, value

$ 3,500,000

Series D Warrant [Member]

Warrants converted into ordinary shares

65,111

Exercise price of warrants

$ 247.50

Warrants conversion price

$ 0.826

Warrants converted into ordinary shares

2,460

Number of share converted

30,590

2,460

Series D Warrant [Member] | Common Stock [Member]

Warrants conversion price

$ 0.826

Warrants converted into ordinary shares

2,032

Series A Warrant [Member]

Exercise price of warrants

$ 330

Warrants conversion price

$ 0.779

Warrants converted into ordinary shares

171

Number of share converted

15,507

171

Series A Warrant [Member] | Securities Purchase Agreement [Member]

Warrants converted into ordinary shares

10,606

Series B Warrant [Member]

Exercise price of warrants

$ 264

Warrants conversion price

$ 0.816

Number of share converted

3,957

Series C Warrant [Member]

Exercise price of warrants

$ 165

Warrants conversion price

$ 0.888

Warrants converted into ordinary shares

2,502

Number of share converted

15,991

2,502

Restricted Series B Preferred Stock [Member] | Securities Purchase Agreement [Member]

Ordinary shares issued

1,060,606

Series A Warrants [Member]

Number of share converted

0.779

Series A Warrants [Member] | Common Stock [Member]

Warrants converted into ordinary shares

15,507

Warrants converted into ordinary shares

133

Number of share converted

12,080

Series C Warrants [Member] | Common Stock [Member]

Warrants converted into ordinary shares

15,991

Warrants conversion price

$ 0.888

Warrants converted into ordinary shares

2,222

Number of share converted

14,200

Series B Warrants [Member] | Common Stock [Member]

Warrants converted into ordinary shares

3,957

Warrants conversion price

$ 0.816

Number of share converted

3,229

Series D Warrants [Member] | Common Stock [Member]

Warrants converted into ordinary shares

30,590

Number of share converted

25,267

[1]Reflects reverse split of 10:1 as approved by the Board of Directors of Freight Technologies, Inc on January 26, 2024, effective as of
February 5, 2024.

DEFINED CONTRIBUTION PLAN (Deta

DEFINED CONTRIBUTION PLAN (Details Narrative) - USD ($)	12 Months Ended
DEFINED CONTRIBUTION PLAN (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
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 expenses	$ 31,187	$ 23,758

SCHEDULE OF PREFERRED AND COMMO

SCHEDULE OF PREFERRED AND COMMON STOCK AUTHORIZED (Details) - $ / shares		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, shares authorized		Unlimited	Unlimited
Common stock, par value		$ 1.10	$ 1.10
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 A1A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		10,000,000	10,000,000
Series A2 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		3,000,000	3,000,000
Series A4 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		Unlimited	Unlimited
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 A1A 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	[1]	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]
Common stock, shares authorized		Unlimited
Common stock, par value		$ 1.10
Preferred stock, par value		$ 0
Preferred stock, shares authorized		Unlimited
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 A1A 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, par value		$ 0.0001
Preferred stock, shares authorized		Unlimited
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

[1]Changed Series B Preferred Shares post-merger closing

SCHEDULE OF PREFERRED STOCK ISS

SCHEDULE OF PREFERRED STOCK ISSUED (Details) - shares	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total	164,001,382	14,449,669
Series Seed Preferred Stock [Member]
Class of Stock [Line Items]
Total	7,020	7,020
Series A1A Preferred Stock [Member]
Class of Stock [Line Items]
Total	1,169,847	3,884,256
Series A2 Preferred Stock [Member]
Class of Stock [Line Items]
Total	634,978	1,195,904
Series A4 Preferred Stock [Member]
Class of Stock [Line Items]
Total	160,927,463	1,854,644
Series B Preferred Shares [Member]
Class of Stock [Line Items]
Total	1,262,074	7,507,845

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative)

12 Months Ended

Mar. 24, 2023

Nov. 02, 2022 USD ($) shares

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

Jul. 12, 2022 USD ($) shares

Feb. 14, 2022

Dec. 29, 2021 USD ($) $ / shares shares

Dec. 31, 2023 shares

Dec. 31, 2022 USD ($) shares

Nov. 07, 2022 $ / shares shares

Oct. 28, 2022 $ / shares shares

Feb. 09, 2022 $ / shares shares

Sep. 16, 2021 $ / shares shares

Class of Stock [Line Items]

Reverse split stock, description

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.

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: 0.015, Series A2: 0.022, Series A4: 0.015, Series B: 0.047, Series Seed: 0.01

New shares issued

1,244,461

54,745

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.

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

$ 2,100

Stock issued, shares

4,000

Warrants exercised

6,300

12,600

2,100

Warrant exercise price | $ / shares

$ 0.10

Additional new shares issued

547,758

4,387

Common Stock [Member]

Class of Stock [Line Items]

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

$ 1,000,000

$ 27,926

Stock issued, shares

4,000

25,387

[1]

Warrants to purchase shares

First Closing [Member]

Class of Stock [Line Items]

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

$ 400,000

First Closing [Member] | Common Stock [Member]

Class of Stock [Line Items]

Stock issued, shares

1,600

Convertible Debt [Member]

Class of Stock [Line Items]

Consideration from issuance of shares | $

$ 1,500,000

Repayment of debt | $

$ 200,000

Second Closing [Member]

Class of Stock [Line Items]

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

$ 600,000

Second Closing [Member] | Common Stock [Member]

Class of Stock [Line Items]

Stock issued, shares

2,400

Series A4 Preferred Stock [Member]

Class of Stock [Line Items]

New shares issued

1,285,714

Consideration from issuance of shares | $

$ 2,700,000

Conversion of stock, shares

59,804,176

Common stock, conversion ratio

0.047

0.015

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

Class of Stock [Line Items]

New shares issued

809,524

Consideration from issuance of shares | $

$ 1,700,000

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

Class of Stock [Line Items]

New shares issued

476,190

Consideration from issuance of shares | $

$ 1,000,000

Warrant [Member] | First Closing [Member]

Class of Stock [Line Items]

Stock issued, shares

8,400

Warrant [Member] | Second Closing [Member]

Class of Stock [Line Items]

Stock issued, shares

12,600

Series A1A Preferred Stock [Member]

Class of Stock [Line Items]

Conversion of stock, shares

2,714,409

589,292

Common stock, conversion ratio

0.015

Series A2 Preferred Stock [Member]

Class of Stock [Line Items]

Conversion of stock, shares

560,926

68,456

Common stock, conversion ratio

0.022

Series A3 Preferred Stock [Member]

Class of Stock [Line Items]

Warrants exercised

2,376,439

1,891,928

Warrant exercise price | $ / shares

$ 1.125

Conversion of stock, shares

6,245,771

942,611

Common stock, conversion ratio

0.015

0.047

Series A Warrant [Member]

Class of Stock [Line Items]

Warrant exercise price | $ / shares

$ 330

Conversion of stock, shares

15,507

171

Common stock, conversion ratio

0.779

Series C Warrant [Member]

Class of Stock [Line Items]

Warrant exercise price | $ / shares

$ 165

Conversion of stock, shares

15,991

2,502

Common stock, conversion ratio

0.888

Series D Warrant [Member]

Class of Stock [Line Items]

Warrants to purchase shares

65,111

Warrant exercise price | $ / shares

$ 247.50

Conversion of stock, shares

30,590

2,460

Common stock, conversion ratio

0.826

Series B Warrant [Member]

Class of Stock [Line Items]

Warrant exercise price | $ / shares

$ 264

Conversion of stock, shares

3,957

Common stock, conversion ratio

0.816

[1]Reflects reverse split of 10:1 as approved by the Board of Directors of Freight Technologies, Inc on January 26, 2024, effective as of
February 5, 2024.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Note Purchase Agreement [Member]	Mar. 11, 2024 USD ($)
Subsequent Event [Line Items]
Long term debt	$ 750,000
Long term debt, year	1 year
Long term debt, interest rate	8%