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- Forum actieveling
- Berichten: 265
- Lid geworden op: 28 dec 2016 21:56
- waarderingen: 114
Foresight Autonomous Holdings' (FRSX) main product is an AI-enhanced stereoscopic object detection system, QuadSight, for autonomous vehicles using paired cameras to capture thermal waves as well as visible light. The company has a partnership with FLIR Systems (FLIR), where the latter will integrate its infrared cameras with QuadSight for autonomous vehicles, and a partnership with Elbit (ESLT) for use of Foresight's vision system in defense applications.
Foresight has not slowed down on prototype demonstrations due to COVID-19. Instead, it has adapted to the current social distancing environment by sending out demo kits to prospective customers. The company is also applying its autonomous driving system to detecting six symptoms of COVID-19 with a monitor that can be used at entrances to public venues.
Simulation of body temperature check by thermoscan or infrared thermal camera
(Source: "From Autonomous Vehicles To COVID Detection: How Can A Safety Driving System Detect Virus Symptoms," Forbes)
Foresight has applied for patents for its COVID-19 detector and is currently conducting a pilot test of the system at an Israeli hospital as a proof of concept prior to commercialization.
The company's wholly owned subsidiary, Eye-Net Mobile, provides accident detection systems for automobiles, bicycles and motorcycles, and recently announced two pilot projects with two Japanese companies. The company's partially owned subsidiary, Rail-Vision, recently announced its first two sales of its automated railroad shunting systems with provisions that could lead to further sales from the same customers.
All of this seems like a lot of good news, but the stock price has resumed a downtrend, which might be a buying opportunity.
(Source: WSJ Advanced Charting)
Foresight has 51.8 million shares. At the current price of $.88, the market cap is $45.6 million. The company has $17.4 million in cash and no debt. The cash burn rate is about $10 million annually.
Valuation for Foresight is similar to Exro in that it's a guess on how much money the company will bring in during future years. Applying the same 10% market share to the electric car market and the same price range for the QuadSight system as for the Exro product results in revenue of $300 million for 2023. Based on the current share count, the P/S would be below 1X. This is without including military sales or any sales of the COVID-19 detector.
Foresight competes in a heavily contested market, and there's no guarantee that it will be successful. For the COVID-19 detector, the company has arranged capacity for production of only 20,000 units per year. The stock is in danger of losing Nasdaq listing if the price does not climb to at least $1. Positives include that the company has aligned itself with industry leaders, and through its subsidiaries, has product diversification.
- Forum veteraan
- Berichten: 1632
- Lid geworden op: 17 sep 2014 14:20
- waarderingen: 688
Knorr-Bremse, a $17 billion European-based group, will own 36.79% of Rail Vision’s outstanding share capital following original investment in 2019
October 13, 2020 08:30 AM Eastern Daylight Time
NESS ZIONA, Israel--(BUSINESS WIRE)--Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), an innovator in automotive vision systems, announced today that its affiliate, Rail Vision Ltd., and Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, an affiliate of Knorr-Bremse AG (Frankfurt: KBX), executed an agreement whereby Knorr-Bremse will make a new investment of $10 million in Rail Vision. Knorr-Bremse, a $17 billion European-based group, originally invested $10 million in Rail Vision, as reported by the Company on March 14, 2019. Following the additional investment, Knorr-Bremse will own a total of 36.79% of Rail Vision’s outstanding share capital. Additionally, Rail Vision has received a call option, available under certain conditions which should be met, to call for an additional $5 million under the same investment terms.
“Knorr-Bremse's continued investment marks a vote of confidence in Rail Vision’s unique technology and its solutions for the rail industry. We believe that further securing Rail Vision’s finances will strengthen the company’s performance and support its commercialization and market penetration efforts”
The current investment reflects Rail Vision’s post money valuation of approximately $50 million. Foresight's initial investment in Rail Vision, in August 2016, reflected a $4.4 million post money valuation, marking a 1,130% increase. As a result of the investment, Foresight’s holdings in Rail Vision will amount to 19.34% (16.49% on a fully diluted basis).
Rail Vision is a leading provider of cutting-edge cognitive vision sensor technology to increase safety in the railway industry. Rail Vision’s solutions offer detection and classification of objects or obstacles (e.g. humans, vehicles, and signals), rail path recognition (i.e. switch state detection), distance measurement and opportunity infrastructure condition monitoring.
“Knorr-Bremse's continued investment marks a vote of confidence in Rail Vision’s unique technology and its solutions for the rail industry. We believe that further securing Rail Vision’s finances will strengthen the company’s performance and support its commercialization and market penetration efforts,” said Haim Siboni, CEO of Foresight.
Knorr-Bremse is the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle subsystems. Knorr-Bremse’s products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. For more than 110 years, the company has been the industry innovator, driving innovation in mobility and transportation technologies with an edge in connected system solutions. Knorr-Bremse is one of Germany’s most successful industrial companies and profits from the key global megatrends: urbanization, eco-efficiency, digitization and automated driving. In 2018, Knorr-Bremse’s two divisions together generated revenues of EUR 6.6 billion (IFRS).
Knorr-Bremse delivers braking, entrance, control and auxiliary power supply systems, HVAC and driver assistance systems for rail vehicles, as well as braking, steering, powertrain and transmission control solutions, and driver assistance systems for commercial vehicles.
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