Foresight Autonomous Holdings - Cash burn up slightly, stronger balance sheet
Foresight Autonomous (FRSX) was able to achieve a number of milestones during Q317. These included tests with two major Chinese auto manufacturers, demonstration of a proof of concept for FRSX’s road traffic preventions system using thermal and visible light cameras and a successful system demonstration of its all-weather ADAS system for use in electric vehicles with Uniti Sweden. With higher R&D spend, cash burn rose slightly to $1.5m in the third quarter, up from a quarterly average of $1.2m in H1. The group nevertheless ended the quarter with $3.2m higher net cash balances helped by $5.0m cash inflow from warrant conversions during the period.
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