Nasdaq listing ushers in new era
Foresight (FRSX) shares have become significantly more investible in recent months with the company listing on Nasdaq on 15 June, publication of accounts in English and the company becoming self-financing with completion of a NIS43m ($11.7m) funding round. Indeed, with $17m in cash and an estimated c NIS158m ($45m) of its warrants deep in the money, we see the potential for FRSX to exercise its $11.3m options to increase its stake in RV to 45% and build a substantial cash cushion in the coming years if these are converted. In this note we launch our dollar-based US GAAP forecasts and review recent developments.
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