Freight Technologies buys additional $1 million in digital assets

HOUSTON - Freight Technologies, Inc. (NASDAQ:FRGT), known as Fr8Tech, a logistics technology firm, announced today the issuance of two additional convertible notes valued at $1 million for the purchase of Official Trump (TRUMP) tokens. This investment raises the company’s total TRUMP token holdings to $2 million. According to InvestingPro data, the company faces significant financial challenges with a current ratio of 0.8, indicating short-term obligations exceed liquid assets.

Fr8Tech’s CEO, Javier Selgas, expressed the move as a blend of financial strategy and advocacy, stating, "Fr8Tech’s continued investment into TRUMP puts us at the intersection of finance and advocacy." He linked the investment to the company’s support for "fair and free trade across the US-Mexico border in the interests of our customers." The company’s strategic pivot comes as it faces challenging financial metrics, with revenue declining by ~20% in the last twelve months to $13.7 million, based on InvestingPro analysis.

Selgas referenced recent statements by Mexican President Claudia Sheinbaum on improving trade balance and advancing bilateral issues as positive, yet he emphasized the possibility of establishing a fair trade framework immediately. He noted the significant economic impact of cross-border trade, which last year totaled $840 billion, supporting numerous companies and jobs.

Don Quinby, the company’s CFO, highlighted the completion of the initial $1 million TRUMP token purchase and expressed enthusiasm for expanding their cryptocurrency holdings. As of midday May 11, 2025, Fr8Tech’s digital asset portfolio, including FET tokens and TRUMP, was valued at approximately $10.7 million. This investment strategy comes as the company’s stock trades below its InvestingPro Fair Value, though investors should note the company’s weak financial health score of 1.22 out of 5.

Fr8Tech offers a suite of AI-powered logistics management solutions aimed at optimizing supply chain processes. Their portfolio includes the Fr8App for over-the-road (OTR) B2B cross-border shipping, Fr8Now for less-than-truckload (LTL) shipping, Fr8Fleet for enterprise clients in Mexico, Waavely for ocean freight booking, and Fleet Rocket, a Transportation Management System (TMS) for logistics operators.

This press release contains forward-looking statements regarding Fr8Tech’s business projections and the potential impact of their investments. These statements are subject to risks and uncertainties, and actual results may differ materially from those projected. InvestingPro analysis reveals additional risks, including negative EBITDA of -$6.48M and concerning cash burn rates. Subscribers can access 13 more key ProTips and detailed financial metrics for comprehensive investment decision-making.

The information in this article is based on a press release statement from Freight Technologies, Inc.

In other recent news, Freight Technologies, Inc. announced a successful integration of its Fr8App platform with Bayer Crop Science’s Transportation Management System, enhancing logistics efficiency through advanced data exchange. This collaboration aims to improve shipment visibility and reduce lead times, leveraging Electronic Data Interchange technology for automated data exchanges. Additionally, Freight Technologies believes it has regained compliance with Nasdaq’s minimum stockholders’ equity requirement after financial maneuvers, including the sale of Series A4 preferred shares, though formal confirmation is pending. The company also expanded into the decentralized AI ecosystem by acquiring $5.2 million in FET Tokens from Fetch Compute, Inc., aligning with its vision to enhance offerings in logistics markets. In corporate governance, Freight Technologies appointed Leilei Nie and Andres Gonzalez as new independent directors, following the resignations of two board members. These developments reflect Freight Technologies’ ongoing efforts to innovate and strengthen its position in the logistics and supply chain industry.

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