Exhibit 99.1

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

As of June 30, 2021

U.S. DOLLARS IN THOUSANDS

(Except share and per share data and exercise prices)

(UNAUDITED)

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

As of June 30, 2021

U.S. DOLLARS IN THOUSANDS

(Except share and per share data and exercise prices)

(UNAUDITED)

INDEX

	Page
Interim Condensed Consolidated Balance Sheets	2
Interim Condensed Consolidated Statements of Comprehensive Loss	3
Interim Condensed Statements of Changes in Shareholders’ Equity	4-5
Interim Condensed Consolidated Statements of Cash Flows	6-7
Notes to Interim Condensed Consolidated Financial Statements	8-9

1

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

U.S. dollars in thousands

(Except share data)

	June 30,			December 31,
	2021			2020
	Unaudited			Audited
ASSETS
Current Assets:
Cash and cash equivalents	$	23,750		$	38,772
Restricted cash		133			-
Short-term deposits		28,462			5,166
Marketable equity securities		11			42
Other receivables		524			401
Total current assets		52,880			44,381
Non-current Assets:
Operating lease right of use asset		1,916			1,104
Investment in equity securities		4,011			4,011
Fixed assets, net		408			427
Total Non-current assets		6,335			5,542
Total assets	$	59,215		$	49,923
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Trade payables	$	220		$	391
Operating lease liability		416			427
Other accounts payable		1,689			1,207
Total current liabilities		2,325			2,025
Operating Lease Liability		1,547			853
Total liabilities	$	3,872		$	2,878
Shareholders’ Equity:
Ordinary shares, no par value; Authorized 1,000,000,000 shares; Issued and outstanding: 322,508,606 and 312,760,305 shares as of June 30, 2021, and December 31, 2020 respectively		-			-
Additional paid-in-capital		127,492			111,739
Accumulated deficit		(72,293	)		(64,768	)
Total Foresight Autonomous Holdings Ltd. shareholders’ equity		55,199			46,971
Non-controlling interest		144			74
Total equity		55,343			47,045
Total liabilities and shareholders’ equity	$	59,215		$	49,923

The accompanying notes are an integral part of the consolidated financial statements.

2

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)

U.S. dollars in thousands

(Except share and per share data)

	Six months ended						Three months ended
	June 30,						June 30,
	2021			2020			2021			2020
	Unaudited						Unaudited
Operating expenses:
Research and development, net	$	(5,095	)	$	(4,217	)	$	(2,436	)	$	(1,876	)
Marketing and sales		(985	)		(666	)		(489	)		(233	)
General and administrative		(2,018	)		(1,294	)		(812	)		(634	)
Operating loss		(8,098	)		(6,177	)		(3,737	)		(2,743	)
Equity in net loss of an affiliated company		-			(1,344	)		-			(598	)
Financing income, net		573			141			574			10
Net loss	$	(7,525	)	$	(7,380	)	$	(3,163	)	$	(3,331	)
Basic and diluted net loss per share from continuing operations	$	(0.02	)	$	(0.04	)	$	(0.01	)	$	(0.02	)
Weighted average number of shares outstanding used in computing basic and diluted net loss per share		320,082,947			177,349,786			322,333,344			199,973,047

The accompanying notes are an integral part of the consolidated financial statements.

3

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED)

U.S. dollars in thousands

(Except share data)

	Ordinary Shares				Additional paid-in		Accumulated			Total Foresight Autonomous Holdings Ltd. Shareholders’			Non-controlling		Total shareholders’
	Number		Amount		capital		deficit			equity			interest		equity
Balance as of January 1, 2020		154,649,602		--	$	65,681	$	(49,393	)	$	16,288			--	$	16,288
Issuance of ordinary shares		156,847,640		--		44,707		--			44,707			--		44,707
Exercise of options		688,063		--		263		--			263			--		263
Share-based payment		575,000		--		1,088		--			1,088			74		1,162
Loss for the year		--		--		—		(15,375	)		(15,375	)		--		(15,375	)
Balance as of December 31, 2020		312,760,305		--		111,739		(64,768	)		46,971			74		47,045

The accompanying notes are an integral part of the consolidated financial statements.

4

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED)

U.S. dollars in thousands

(Except share data)

	Ordinary Shares				Additional paid-in		Accumulated			Total Foresight Autonomous Holdings Ltd. Shareholders’			Non-controlling		Total shareholders’
	Number		Amount		capital		deficit			equity			interest		equity
Balance as of January 1, 2021		312,760,305		--		111,739		(64,768	)		46,971			74		47,045
Issuance of ordinary shares		6,891,720		--		13,508		--			13,508			--		13,508
Exercise of options and warrants		2,756,581		--		652		--			652			--		652
Share-based payment		100,000		--		1,593		--			1,593			70		1,663
Net loss		--		--		--		(7,525	)		(7,525	)		--		(7,525	)
Balance as of June 30, 2021		322,508,606		--		127,492		(72,293	)		55,199			144		55,343

The accompanying notes are an integral part of the consolidated financial statements.

5

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

U.S. dollars in thousands

	Six months ended						Three months ended
	June 30,						June 30,
	2021			2020			2021			2020
Cash flows from operating activities:
Net loss for the period	$	(7,525	)	$	(7,380	)	$	(3,163	)	$	(3,331	)
Adjustments to reconcile loss to net cash used in operating activities		1,761			1,603			(808	)		803
Total net cash used in operating activities	$	(5,764	)	$	(5,777	)	$	(3,971	)	$	(2,528	)
Cash flows from investing activities:
Changes in short-term deposits		(23,296	)		(1,896	)		(3,343	)		(2,892	)
Proceed from sales of marketable securities		-			68			-			68
Purchase of fixed assets		(61	)		(9	)		(42	)		(3	)
Total net cash used in investing activities	$	(23,357	)	$	(1,837	)	$	(3,385	)	$	(2,827	)
Cash flows from financing activities:
Issuance of ordinary shares, net of issuance expenses		13,508			13,082			-			13,082
Proceeds from exercise of warrants		595			-			-			-
Proceeds from exercise of options		57			-			-			-
Total net cash provided by financing activities	$	14,160		$	13,082		$	-		$	13,082
Effect of exchange rate changes on cash and cash equivalents		72			17			(126	)		1
Increase (decrease) in cash, cash equivalents and restricted cash		(14,889	)		5,485			(7,482	)		7,728
Cash, cash equivalents and restricted cash at the beginning of the period	$	38,772		$	4,827		$	31,365		$	2,584
Cash, cash equivalents and restricted cash at end of the period	$	23,883		$	10,312		$	23,883		$	10,312

The accompanying notes are an integral part of the consolidated financial statements.

6

FORESIGHT AUTONOMOUS HOLDINGS LTD.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

U.S. dollars in thousands

	Six months ended						Three months ended
	June 30,						June 30,
	2021			2020			2021			2020
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based payment		1,663			350			502			195
Depreciation		80			131			36			65
Equity in loss of an affiliated company		--			1,344			--			598
Revaluation of marketable securities		31			(59	)		4			(16	)
Exchange rate changes on cash and cash equivalents		(72	)		(17	)		126			(1	)
Changes in assets and liabilities:
Decrease (increase) in other receivables		(123	)		302			(52	)		41
Increase (decrease) in trade payables		(171	)		(404	)		53			(71	)
Change in operating lease liability		(122	)		(17	)		43			31
Increase (decrease) in other accounts payable		475			(27	)		(1,520	)		(39	)
Adjustments to reconcile loss to net cash used in operating activities	$	1,761		$	1,603		$	(808	)	$	803

Supplemental cash flow information

	Six months ended				Three months ended
	June 30,				June 30,
	2021		2020		2021		2020
Non-cash activities
Accrued issuance expenses		--		153		--		153
Operating leases
Cash payments for operating leases	$	219	$	221	$	111	$	110
New operating lease assets obtained in exchange for operating lease liabilities	$	972	$	64	$	--	$	33

7

FORESIGHT AUTONOMOUS HOLDINGS LTD.

U.S. dollars in thousands

(Except share and per share data and exercise prices)

Notes to the Interim Condensed Consolidated Financial Statements (Unaudited)

NOTE 1 - GENERAL

A. Reporting Entity

Foresight Autonomous Holdings Ltd. (the “Company”) is an Israeli resident company incorporated in Israel. The address of the Company’s registered office is 7 Golda Meir St., Ness Ziona, Israel. The unaudited condensed consolidated interim financial statements of the Company as of June 30, 2021, comprise the Company and its fully owned subsidiaries in Israel (together referred to as the “Group”). The Company, through of its subsidiary, Foresight Automotive Ltd. (“Foresight Automotive”), is a technology company developing smart multi-spectral vision software solutions including modules of automatic calibration, sensor fusion and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. In addition, the Company, through of its subsidiary, Eye-Net Mobile Ltd. (“Eye-Net Mobile”), is also engaged in the development of a cellular-based solution suite that provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge artificial intelligence (“AI”) technology. The ordinary shares of the Company, no par value each (the “Ordinary Shares”), are registered for trade on the Tel Aviv Stock Exchange Ltd. In addition, since June 15, 2017, the Company has American Depository Shares (“ADSs”) registered with the U.S. Securities and Exchange Commission. The ADSs are listed on The Nasdaq Capital Market; the ratio of the Company’s Ordinary Shares to ADSs is 5:1.

B. The Group’s activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize its technology before competitors develop similar technology. In addition, the Group is subject to risks from, among other things, competition associated within the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements and limited operating history.

C. In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on its operations and determined that there were no material adverse impacts on the Company’s results of operations and financial position as of June 30, 2021. These estimates may change, as new events occur and additional information is obtained.

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

A. Unaudited Interim Financial Statements 

The accompanying unaudited interim condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of the management, all adjustments considered necessary for a fair presentation have been included (consisting only of normal recurring adjustments except as otherwise discussed). For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2020.

The results of operation for the three and six months ended June 30, 2021, are not necessarily indicative of the results that may be expected for the year ending December 31, 2021.

B. Significant Accounting Policies

The significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements.

C. Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

8

FORESIGHT AUTONOMOUS HOLDINGS LTD.

U.S. dollars in thousands

(Except share and per share data and exercise prices)

Notes to the Interim Condensed Consolidated Financial Statements (Unaudited)

NOTE 3  - MATERIAL EVENTS IN THE REPORTING PERIOD

A. On January 22, 2021, the Company entered into an At the Market Sales Agreement, (the “Sales Agreement”) pursuant to which the Company may sell ADSs up to a total amount of $60,000 from time to time. As of March 25, 2021, the Company issued a total of 1,378,344 ADSs (6,891,720 Ordinary Shares) at a weighted average price of $10.137 per ADS. After deducting closing costs and fees, as of June 30, 2021, the Company received net proceeds of $13,508, net of issuance expense.

B. On January 18, 2021, the Company’s Board of Directors approved an extension of all the options previously granted under the Company’s 2016 Equity Incentive Plan to seven years from the grant date instead of three years from the vesting date. The Company recognized the incremental compensation cost attributable to vested options at the amount of $387, as stock compensation expenses for the six months ended June 30, 2021. The remaining incremental compensation cost at the amount of $137 will be expensed over the remaining vesting period.

On March 8, 2021, the Company’s shareholders at an extraordinary general meeting approved an extension of the options already granted to three members of the Board of Directors, the Chief Executive Officer, Vice President of Human Resources, and to one of its service providers, under the Company’s 2016 Equity Incentive Plan, to seven years from the grant date instead of three years from the vesting date. The Company recognized the incremental compensation cost attributable to vested options at the amount of $416, as stock compensation expenses for the six months ended June 30, 2021. The incremental compensation cost at the amount of $85, will be expensed over the remaining vesting period.

C. On February 25, 2021, the Company issued options to purchase 1,105,000 Ordinary Shares to its employees at an exercise price ranging between NIS 1.33 ($0.41) to NIS 5.93 ($1.81) (an average of approximately $1.41 per share at the grant date). The options shall vest over a period of three years until fully vested. The Company recorded in its statement of comprehensive loss a total expense of $182 in respect of those grants.

On March 25, 2021, and on June 3, 2021, the Company issued options to purchase 350,000 Ordinary Shares to its employees at an exercise price of NIS 4.75 (approximately $1.44 per share at the grant date). The options shall vest over a period of three years until fully vested. The Company recorded in its statement of comprehensive loss a total expense of $49 in respect of those grants.

D. On January 18, 2021, and on March 25, 2021, the Company granted options to several service providers to purchase a total of 500,000 Ordinary Shares at an exercise price ranging between NIS 2.9 ($0.90) to NIS 4.75 ($1.44) (an average of approximately $1.43 per share at the grant date). The options shall vest over a period of three years until fully vested.

E. On May 23, 2021, the Company issued 100,000 Ordinary shares to a service provider. The Company recorded in its statement of comprehensive loss a total expense of $79 in respect of such grant.

F. On March 31, 2021, the Company exercised its option to extend its office lease period of three years, ending March 31, 2024, and received an additional option to extend its office lease, at the same monthly fee, for an additional three years ending March 31, 2027. As a result, the Company modified its Right of Use asset and the Operating lease liability by the amounts of $972.

9