Foresight Autonomous provides operational, financial update amid COVID-19

Foresight Autonomous provided an update on operational and financial measures taken by the Company in response to the COVID-19 pandemic. The company and its wholly owned subsidiaries are fully maintaining their business activities as usual, with minimal impact to research and development, business development and marketing activities. In response to the COVID-19 pandemic outbreak and its financial implications, Foresight has taken decisive action to reduce its monthly cash burn spending by more than 20%. These measures were implemented as of March. Foresight is pleased with its technological development progress and does not foresee sizable impacts to its current commercialization efforts. Considering the existing travel restrictions, the company has adopted virtual meeting and presentation practices that allow continuous communications with both potential and existing customers. Foresight broadcasts live demonstrations to potential customers and shared recent test results over several media channels. Foresight's health and welfare strategy aims to protect stakeholders such as employees, customers and vendors from the spread of COVID-19 while providing as much economic flexibility as is feasible. Consequently, the company has implemented appropriate procedures, including remote working practices, to ensure that it is conducting business in a safe and effective manner.