InvestorNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Subsidiary Wraps Up Successful Road Show Featuring Eye-Net
Nov 22, 2022
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) subsidiary Net Mobile Ltd. successfully completed a technological road show of the Eye-Net Protect(TM) solution. Held throughout Japan earlier this month, the road show introduced the Eye-Net technology to 20 automotive-related companies, including five leading Japanese vehicle manufacturers (“OEMs”), several tier 1 and tier 2 suppliers, and 11 dashboard cameras companies. According to the announcement, the road show “generated significant interest among several world-leading OEMs and manufacturers of complementary equipment to the automotive industry (including infotainment systems and dashcams) who expressed interest in pursuing further technological evaluation.” The demonstrations were designed to feature the latest developments in the Eye-Net Protect solution, which has exhibited the ability to enhance road safety and possibly provide “beyond-line-of-sight” scenarios not offered with existing advanced driver assistant systems (“ADAS”). The Eye-Net suite of products include innovative solutions that protect road users from potential collisions by delivering accurate, real-time collision alerts. Foresight Autonomous Holdings is an innovator in automotive vision systems. Foresight also announced that it has received a 180-day extension from NASDAQ to regain compliance with minimum bid requirements. The notice letter noted that Foresight has until May 22, 2023, to meet the requirement. That letter outlines the requirement: If at any time before May 22, 2023, the closing bid price of the company’s ADSs is at least $1 per ADS for a minimum of 10 consecutive business days, the company will regain compliance with this NASDA rule and this matter will be closed.
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries — Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. — Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time, precollision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information, visit the company’s website at www.ForesightAuto.com.
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