Ra'anana, Israel, May 24, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (NASDAQ:RVSN) (the "Company"), a technology company at the forefront of revolutionizing railway safety and the data-related SaaS market, today shared several commercial and technological accomplishments since the start of 2024, including valuable developments with tier one rail companies in the United States, the expansion of its distribution network and additional new partnerships and technological advancements. As Rail Vision progresses t ...

Ra'anana, Israel, May 21, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the "Company"), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced that it has received a notice of allowance from the United States Patent and Trademark Office for its innovative AI-based railway obstacle detection system. This patent outlines an advanced method for enhancing rail safety through the use of electro-optical imaging technologies combined with ar ...

Financial Performance - Revenues for the year ended December 31, 2023, amounted to $142,000, representing a decrease of $279,000 or 66% compared to $421,000 for the year ended December 31, 2022[262]. - Operating loss for the year ended December 31, 2023, was $11,403,000, compared to an operating loss of $10,735,000 for the year ended December 31, 2022, an increase of $668,000 or 6%[265]. - Net loss for the year ended December 31, 2023, was $11,148,000 compared to $10,475,000 for the year ended December 31, 2022, an increase of $673,000 or 6%[267]. - The company has not generated significant revenues and expects to continue incurring substantial operating losses, funding operations primarily through current financial resources and capital raises[289]. Expenses - Research and development expenses for the year ended December 31, 2023, amounted to $7,145,000, representing an increase of $915,000 or 15% compared to $6,230,000 for the year ended December 31, 2022[263]. - General and administrative expenses totaled $4,339,000 for the year ended December 31, 2023, representing an increase of $74,000 or 2% compared to $4,265,000 for the year ended December 31, 2022[264]. - Net cash used in operating activities for the year ended December 31, 2023, was $10,448,000, primarily for salaries and related personnel expenses totaling approximately $7,487,000[270]. Cash Position and Funding - Cash and cash equivalents as of December 31, 2023, were approximately $3.1 million[268]. - As of December 31, 2023, the company's cash and cash equivalents were $3.1 million, indicating a need for substantial additional capital for future operations[288]. - The company has funded operations with approximately $68.7 million from the issuance of shares and warrants since inception[268]. - In January 2024, the company completed a PIPE resulting in aggregate gross proceeds of approximately $3.5 million, including $0.5 million from the partial conversion of a Credit Facility[290]. - The company has exercised 920,000 January 2024 Facility Warrants, resulting in gross proceeds of approximately $0.375 million[281]. - The company issued 493,424 Concurrent Warrants in May 2023, which were exercised on a cashless basis, resulting in the issuance of 181,002 ordinary shares[282]. - The company expects cash and cash equivalents and future cash flow from sales to be sufficient for 12 months of operations, but may seek additional funds in 2024[291]. Contracts and Orders - The company signed a supply contract valued at up to $5,000,000 for AI-based Switch Yard Systems with a US-based rail and leasing services company in January 2024[254]. - A purchase order for a single Main Line System valued at $500,000 was received from a leading Latin American mining company in October 2023[254]. Market and Exchange Rate Impact - Changes of 5% and 10% in the U.S. dollar/NIS exchange rate would increase/decrease operating expenses for the year ended December 31, 2023 by approximately -4.23% and -8.07%, respectively[528]. Initial Public Offering and Obligations - The company completed its initial public offering in April 2022, raising approximately $15.6 million in gross proceeds[285]. - The company has contractual obligations totaling $849,000, with $313,000 due within one year[293].

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Rail Vision Ltd. (Exact name of registrant as specified in its charter) Not Applicable As filed with the Securities and Exchange Commission on November 24, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 (Translation of Registrant's Name into English) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Shahar Hania Chief Execu ...

Exhibit 99.1 Rail Vision Announces Third Quarter 2023 Financial Results RA'ANANA, Israel, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) ("Rail Vision" or the "Company"), a development stage technology company seeking to revolutionize railway safety and the data-related market, today reported financial results for the third quarter ended September 30, 2023. Shahar Hania, CEO of Rail Vision, stated, "I would like to begin by expressing our heartfelt sympathies and condolences to all those ...

Rail Vision Ltd. INTERIM CONDENSED FINANCIAL STATEMENTS As of June 30, 2023 Exhibit 99.2 U.S. DOLLARS IN THOUSANDS (Except share and per share data) (UNAUDITED) Rail Vision Ltd. INTERIM CONDENSED FINANCIAL STATEMENTS As of June 30, 2023 U.S. DOLLARS IN THOUSANDS (Except share and per share data) (UNAUDITED) INDEX | | Page | | --- | --- | | INTERIM CONDENSED BALANCE SHEETS | 2 | | UNAUDITED INTERIM CONDENSED STATEMENTS OF COMPREHENSIVE LOSS | 3 | | UNAUDITED INTERIM CONDENSED STATEMENTS OF CHANGES IN TEMPORA ...

As filed with the Securities and Exchange Commission on July 13, 2023 Registration No. 333-273152 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 AMENDMENT NO. 1 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Rail Vision Ltd. (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant's Name into English) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Isr ...

As filed with the Securities and Exchange Commission on July 6, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Rail Vision Ltd. (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant's Name into English) (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices) Puglisi & Associates 850 Librar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission ...

Financial Performance - Revenues for Q3 2022 amounted to $202,000, attributed to the completion of the long-term pilot with Rio Tinto[5] - Net loss for Q3 2022 was $2,769,000, or $0.17 per share, compared to a net loss of $2,638,000, or $0.28 per share, in Q3 2021[5] - Net loss for the nine months ended September 30, 2022, was $8,017 million, compared to a loss of $7,766 million in the same period of 2021, reflecting an increase of 3.2%[20] - Net cash used in operating activities for the nine months ended September 30, 2022, was $7,832 million, slightly higher than $7,582 million in the prior year[20] Expenses - Research and development expenses for Q3 2022 were $1,651,000, a decrease from $1,683,000 in Q3 2021[5] - General and administrative expenses increased to $1,050,000 in Q3 2022 from $703,000 in Q3 2021, primarily due to higher professional services and share-based compensation[5] - Depreciation expenses for the nine months ended September 30, 2022, were $115 million, up from $101 million in the same period of 2021[20] - Share-based payment expenses decreased to $380 million in the nine months ended September 30, 2022, from $741 million in the prior year[20] Cash Flow and Assets - Cash and cash equivalents at the end of Q3 2022 were $10.4 million, significantly up from $1.6 million as of December 31, 2021[5] - The company ended Q3 2022 with total assets of $12.9 million, compared to $4.4 million as of December 31, 2021[10] - Cash flows from financing activities provided $16,653 million in the nine months ended September 30, 2022, significantly up from $5,127 million in the same period of 2021[20] - Cash, cash equivalents, and restricted cash at the end of the period increased to $10,655 million from $4,233 million year-over-year[20] - The company experienced a net cash increase of $8,806 million for the nine months ended September 30, 2022, compared to a decrease of $2,710 million in the same period of 2021[20] Business Development - The company successfully completed initial testing under a long-term pilot with Rio Tinto for the AutoHaul® project, the world's first automated heavy haul rail network[5] - Rail Vision showcased its AI-based solutions at InnoTrans 2022, generating strong interest from potential customers globally[5] - The company received a notice of allowance from the U.S. Patent and Trademark Office for its AI-based technology designed for railways[5] - Rail Vision is actively working to convert completed pilot programs into revenue-generating commercial contracts[2] Other Financial Activities - The company issued preferred A shares netting $2,000 million and convertible debt proceeds of $1,000 million during the nine months ended September 30, 2022[20] - The company reported a decrease in other current assets by $43 million for the nine months ended September 30, 2022, compared to a decrease of $273 million in the same period of 2021[20] - Non-cash activities included the conversion of preferred shares amounting to $11,965 million during the nine months ended September 30, 2022[20]