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Foresight Autonomous’s Q118 results reveal an R&D-heavy start to the year, leading to an increase in cash burn to $5.1m (Q117: $1.9m). The group ended the quarter with $16.7m cash reserves after outlays of $2.6m on operations, a $2.2m cash injection into Rail Vision (RV) and $160k in capex. Management has reported “tremendous enthusiasm” for its quad-camera systems from the US, Europe and Asia following CES 2018 in January. It has also successfully concluded a multi-user trial of mobile phone-based road safety technology, EyeNet. Our DCF valuation has risen NIS0.07 to NIS5.06 as a result of US dollar strength.

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