Foresight Autonomous Holdings Ltd. American Depositary Shares - FRSX STOCK NEWS

Foresight Autonomous Holdings (FRSX) reported Q3 2024 financial results showing a GAAP net loss of $3.33M, down 20.8% from $4.21M in Q3 2023. Revenue decreased to $111,000 from $304,000 year-over-year. The company announced several strategic collaborations, including agreements with SUNWAY-AI for autonomous logistics vehicles, BuilderX Robotics for heavy machinery operations, and China Design Group for smart transportation solutions. Operating expenses decreased across all categories, with R&D expenses down 15.4%, S&M expenses down 48.3%, and G&A expenses down 14.4%. Cash position stood at $8.94M as of September 30, 2024.

Eye-Net Mobile, a subsidiary of Foresight Autonomous Holdings (Nasdaq: FRSX), has signed an agreement with Software République to integrate and test its vehicle-to-everything (V2X) collision avoidance solution in Bordeaux, France. The project involves collaboration with major partners including Allianz IARD, Bordeaux University, and Keolis Bordeaux Métropole Mobilités.

The multi-phase collaboration aims to deploy Eye-Net's solution across dozens of European cities, starting with testing in controlled environments before expanding to larger-scale evaluations. The initiative is part of Bordeaux Metropole's comprehensive mobility plan focusing on sustainable transportation and road safety.

Foresight Autonomous Holdings (Nasdaq: FRSX) announced that its stereoscopic 3D perception systems are expected to align with the upcoming Trump administration's initiative to establish federal framework for fully self-driving vehicles. The company's technology combines visible-light and thermal long-wave infrared stereoscopic cameras for enhanced detection capabilities, positioning it as a potential primary sensor suite for autonomous vehicles.

This development comes as the administration plans to prioritize autonomous vehicle regulations through the Department of Transportation, addressing current regulatory challenges for deploying large-scale autonomous vehicle fleets.

Foresight Autonomous Holdings (Nasdaq: FRSX) has launched a new portfolio of advanced stereoscopic sensor kits: ScaleCam™ Vision, ScaleCam™ Thermal, and QuadSight®. These sensor kits are designed for serial production and enhance perception capabilities for industrial automation and autonomous mobility applications. The ScaleCam Vision converts depth maps into 3D point clouds, while ScaleCam Thermal excels in adverse weather conditions using heat signatures. QuadSight combines visible-light and thermal infrared imaging for autonomous vehicle applications. The technology aims to reduce development time across various sectors including heavy machinery, agriculture, logistics, drones, and automated special purpose vehicles.

Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) has signed a multi-phase collaboration agreement with Tata Elxsi, a global tier-one technology services provider. The partnership focuses on developing and commercializing advanced ADAS solutions using Foresight's stereoscopic technology for integration into Tata Motors vehicles. The initial phase targets passenger vehicles, heavy machinery, and agricultural vehicles in India. Tata Elxsi will promote Foresight's 3D perception solutions to its customer base, starting with the Indian automotive industry in 2024 and expanding to heavy machinery and agriculture sectors in the first half of 2025.

Foresight Autonomous Holdings (Nasdaq: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has announced its participation in the LD Micro Main Event XVII in Los Angeles, California. The event is scheduled for October 29, 2024, at 10:30 am PT/1:30pm ET.

Key representatives from Foresight will be present:

• Eli Yoresh, Chief Financial Officer
• Oren Bar-On, Vice President of Global Operations and Foresight Changzhou Chief Executive Officer

The company's management will be available for one-on-one meetings during the event. Interested parties can schedule meetings through LD Micro or by contacting Miri Segal at msegal@ms-ir.com. A live webcast of the presentation will be available at https://me24.sequireevents.com/.

Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) has signed a multi-phase collaboration agreement with BuilderX Inc., a Chinese developer of AI tele-operations equipment for heavy machinery. This follows a successful proof-of-concept project completed in July 2024. The collaboration aims to develop and commercialize advanced 3D perception solutions for construction machinery, integrating Foresight's stereoscopic technology into BuilderX's remote-controlled consoles.

The partnership addresses challenges in industrial operations, including hazardous chemicals, severe dust conditions, and poor visibility. Long-term goals include integrating Foresight's perception capabilities into BuilderX's autonomous heavy machinery equipment, potentially enhancing full autonomous driving capabilities in harsh industrial environments.

Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) has signed a strategic cooperation agreement with China Design Group Co. (CDG), a $1 billion annual revenue Chinese technology company. The collaboration aims to develop and commercialize advanced smart transportation and smart city solutions, leveraging Foresight's 3D perception technology and CDG's expertise in IoT, 5G, and AI.

Key points of the agreement include:

• CDG will lead marketing and sales efforts in mainland China
• Foresight will drive initiatives in Japan, South Korea, Europe, and the United States
• The scope includes planning, design, R&D integration, and implementation of innovative systems for traffic management, public transportation, and urban mobility
• Foresight's 3D perception solutions are expected to enhance CDG's monovision-based perception systems

This partnership aims to create comprehensive advanced technology solutions for accurate traffic sensing, efficient travel services, and intelligent traffic management.

Foresight Autonomous Holdings (FRSX) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's closing bid price for its American Depositary Shares (ADSs) has been below $1.00 for 30 consecutive business days. Foresight has been granted a 180-day compliance period until March 3, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days.

If unsuccessful, the company may be eligible for an additional 180-day period, provided it meets other listing requirements. Failure to comply could result in delisting from Nasdaq. Foresight intends to monitor the situation and consider options to regain compliance. The company's ADSs will continue to trade on the Nasdaq Capital Market during this period.