Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, on Thursday released its financial results for the second quarter of 2020. According to the update, Foresight ended the second quarter with $17.4 million in cash and short-term deposits. In addition, Foresight today announced that its wholly owned subsidiary, Eye-Net Mobile Ltd., will start a pilot project with a multi-billion global Japanese technology company. The pilot project will test the Eye-Net(TM) Protect cellular-based vehicle-to-everything (“V2X”) accident prevention solution, validating its capabilities and technical specifications. Upon successful completion, the Japanese technology company may proceed with commercial integration of the Eye-Net solution into its internet-of-things (“IoT”) platform, which currently serves millions of users. “This pilot project marks an important milestone on Eye-Net Mobile’s commercial roadmap,” said Eye-Net Mobile COO and deputy CEO Dror Elbaz in the press release. “The technology company will be the first to evaluate the software development kit (“SDK”) configuration of Eye-Net Protect. Integration with a global Japanese company has the potential to allow our life-saving accident prevention solution to protect millions of users daily.”
To view the full press releases, visit http://nnw.fm/QmHW4 and http://nnw.fm/zkD72
About Foresight Autonomous Holdings Ltd.
Foresight, founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of sight” vision systems and “beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing, and sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time spatial analysis of clients’ movement.
The company’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the semi-autonomous and autonomous vehicle markets and predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://nnw.fm/FRSX
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork