NetworkNewsBreaks - Foresight Autonomous Holdings
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Posted On: 08/21/2020 5:03:59 PM
NetworkNewsBreaks - Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Announces Q2 2020 Results, Eye-Net Pilot/Milestone on Commercial Roadmap
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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