c

NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Reports Q1 2019 Financial Results

Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an automotive technology innovator, on Wednesday reported financial results for the first quarter 2019. Among other highlights, the company ended the quarter with $19.3 million in cash and short-term deposits, GAAP net loss of $3.3 million, and non-GAAP net loss of $2.9 million. In addition, the update also provided an overview of corporate accomplishments and balance sheet highlights for the quarter. “The year has started off on a very positive note as we demonstrated progress across all business activities, including an additional sale of our QuadSight(TM) prototype. Our unique technology continues to gain recognition in the autonomous vehicle industry illustrated by increased demand,” Foresight CEO Haim Siboni stated in the news release. “In addition, our wholly owned subsidiary, Eye-Net Mobile Ltd., completed another trial of its accident prevention solution with one of Israel’s largest cities as well as initial installation with a leading Israeli cellular provider. We expect this progress to continue as our recently announced capital raise of $6.2 million will support our development efforts and marketing initiatives throughout the year.”

To view the full press release, visit http://nnw.fm/Y926u

About Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings Ltd., founded in 2015, is a technology company engaged in the design, development and commercialization of sensor systems for the automotive industry. Through its wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., the company 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 and are targeting the semi-autonomous and autonomous vehicle markets. The company predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology. For more information, visit the company’s website at 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 instant SMS alerts, text STOCKS to 77948

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
Editor@NetworkNewsWire.com

Latest News

Broadhurst, Toledo vault to Senior PGA Championship lead

May 27, 2019

PITTSFORD, N.Y. — Defending champion Paul Broadhurst and Esteban Toledo shared the lead Friday two rounds into the Senior PGA Championship. Another day of unsettled weather led to a shuffle of the leaderboard with Broadhurst and Toledo vaulting 15 players. Both shot 3-under 67 to reach 3-under 137 at Oak Hill Country Club's East Course. Broadhurst, who won last year's tournament at Harbor Shores in southwest Michigan, carded a bogey-free round. Starting on the back nine, he birdied his first two holes — the par-4 10th and par-3 11th — and added a birdie on the par-4 seventh. The 53-year-old...

Tony Finau leads local favorite Spieth by 1 to open Colonial

May 27, 2019

FORT WORTH, Texas — Tony Finau shot a 6-under 64 to take a one-shot lead over local favorite Jordan Spieth and Roger Sloan at Colonial on Thursday. Defending champion Justin Rose, the highest-ranked player in the field at No. 3, shot 74 as all five of the top 10s playing Hogan's Alley finished over par. Finau hasn't finished better than 60th in three tournaments since tying for fifth at the Masters. He had five birdies over seven holes and avoided a second bogey with a chip-in at the par-3 16th. Spieth is trying to end a victory drought that's approaching...

Koepka handles the stress and reaps rewards of another major

May 27, 2019

FARMINGDALE, N.Y. — Brooks Koepka should know as well as anyone that nothing in golf comes easily. His well-documented journey to the PGA Tour took him to remote outposts like Kenya and Kazakhstan. Even after Koepka won a second straight U.S. Open last summer, which no one had done in 29 years, it didn't seem enough to be the first name mentioned among the next generation of stars. So he spent three days setting records at Bethpage Black in the PGA Championship — the first player to shoot 63 in consecutive years in the majors, the lowest 36-hole score in...

Denmark's Lucas Bjerregaard has 2019 PGA's only hole-in-one

May 27, 2019

FARMINGDALE, N.Y. — Lucas Bjerregaard (BEER'-gard) and playing partner Lucas Glover did the old 1-2 on No. 17 at Bethpage Black in the final round of the PGA Championship. Bjerregaard, a 27-year-old Dane, made the first hole-in-one in the tournament on Sunday, one-bouncing a 6-iron into the cup on the par-3 206-yard hole. Bjerregaard high-fived his caddie, waved to the crowd and then walked to the green. He pulled his ball out of the hole and tossed it into the crowd. He had played the hole at 2 over in the first three rounds. It was the 42nd hole-in-one in...

Johnson 2nd at PGA Championship after late charge at Koepka

May 27, 2019

FARMINGDALE, N.Y. — Dustin Johnson has completed the so-close slam. The former world No. 1 erased all but one stroke of a seven-shot deficit in the final round of the PGA Championship — not quite good enough to stop Brooks Koepka from winning the tournament for the second straight year. Instead, Johnson left Bethpage Black with the No. 2 ranking and another second-place finish, giving him one in each of golf's four majors. "Obviously, I knew starting seven back that it was going to be a big feat to catch Brooks," Johnson said after his 1-under 69 on Sunday left...

Search
Broaden News

5 Stars Discovery brings you to the stories from people around the world sharing on the finest luxury resorts, high-end city hotels, and exclusive hideaway to make sure you’ll get the premium experience.

Contact us: sales@starsdiscovery.com