XML 100 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue      
Revenue $ 618 $ 1,366,417
Cost of revenues 123
Gross profit 618 1,366,294
Cost and expenses      
Sales and marketing 10,748 100,460
General and administrative 2,495,308 4,123,108 1,893,499
Research & Development Expense
Donation expenses
Total cost and expenses 2,495,308 4,133,856 1,993,959
Operating loss (2,495,308) (4,133,238) (627,665)
Other expenses      
Interest income on bank deposit 5 14 666
Loss on disposal of a subsidiary
Other income (expenses) 349,023 38,870 (5,611,484)
Interest income from loans to third parties 750 365,000 2,191,631
Impairment loss on loans to third parties and property and equipment (5,345,999) (57,941,663)
Total other (expenses) income, net 349,778 (4,942,115) (61,360,850)
Loss before provision for income taxes (2,145,530) (9,075,353) (61,988,515)
Income tax expense 7,243
Net loss (2,145,530) (9,075,353) (61,995,758)
Other comprehensive (loss) gain      
Foreign currency translation 557,986 2,686,394 (365,258)
Comprehensive loss $ (1,587,544) $ (6,388,959) $ (62,361,016)
Weighted average number of common shares 6,572,226 6,406,146 4,422,837 [1],[2]
Net loss per share attributable to common stockholders, basic and diluted $ (0.33) $ (1.42) $ (14.02) [1]
Freight App Inc [Member]      
Revenue      
Revenue $ 21,474,151 $ 9,205,941  
Cost and expenses      
Cost of revenue (exclusive of depreciation and amortization shown separately below) 19,558,807 8,411,570  
Compensation and employee benefits 3,712,325 2,212,407  
Sales and marketing 91,657 23,622  
General and administrative 2,618,126 2,737,184  
Depreciation and amortization 302,100 531,027  
Total cost and expenses 26,283,015 13,915,810  
Operating loss (4,808,864) (4,709,869)  
Other expenses      
Interest expense, net (1,136,096) (334,170)  
Gain (loss) from extinguishment of debt 115,725 (784,886)  
Loss on initial issuance of private warrants (2,829,065)  
Change in fair value of warrant liabilities (See Note 12) 497,759  
Loss before provision for income taxes (8,160,541) (5,828,925)  
Income tax expense 40,264 23,051  
Net loss (8,200,805) (5,851,976)  
Change in redemption value of preferred stock (912,687)  
Net loss attributable to common stockholders (8,200,805) (6,764,663)  
Other comprehensive (loss) gain      
Foreign currency translation (50,540) 2,159  
Comprehensive loss $ (8,251,345) $ (5,849,817)  
Weighted average number of common shares 13,500,265 7,953,545  
Net loss per share attributable to common stockholders, basic and diluted $ (0.61) $ (0.85)  
Third Parties [Member]      
Revenue      
Revenue $ 618 $ 1,366,417
Related Parties [Member]      
Revenue      
Revenue
[1] - The computation of basic and diluted share and EPS data was adjusted retroactively for all period presented to reflect the 5 to 1 reverse stock split change which was effective on October 29, 2020.
[2] The number of shares outstanding was adjusted retroactively for all period presented to reflect the 5 to 1 reverse stock split change which was effective on October 29, 2020.