Rail Vision Ltd. — Form 6-K Summary
Business context and reporting period
Rail Vision Ltd. filed this Form 6-K for May 2022 on May 12, 2022. The filing amends the company’s May 10, 2022 Amended and Restated Proxy Statement for its June 5, 2022 Annual and Extraordinary General Meeting of Shareholders.
The amendment corrects a typographical error in the disclosure of fees billed by Brightman Almagor Zohar & Co., an independent registered public accounting firm in the Deloitte Global Network.
Key financial metrics
This filing does not provide operating results, revenue, profit, cash flow, margins, debt, liquidity, or other company-level financial metrics. It reports auditor fees for the years ended December 31, 2021 and 2020.
| Fee category (USD thousands) | 2021 | 2020 |
|---|---|---|
| Audit fees | 120 | 255 |
| Audit-related fees | — | 71 |
| Tax fees | 6 | — |
| All other fees | — | — |
| Total | 126 | 326 |
Audit-related fees in 2020 consisted of services connected with the company’s initial public offering. Tax fees in 2021 consisted of professional services for tax compliance, tax advice, and tax audits.
Material changes versus the prior comparable period
- Total reported auditor fees decreased by $200 thousand, or approximately 61%, from $326 thousand in 2020 to $126 thousand in 2021.
- Audit fees decreased by $135 thousand, or approximately 53%, from $255 thousand to $120 thousand.
- Audit-related fees declined from $71 thousand in 2020 to none in 2021, while tax fees increased from none to $6 thousand.
Guidance, outlook, risks, and unusual items
The filing provides no management guidance, operating outlook, risk-factor updates, contingencies, or unusual operating items. Its sole substantive purpose is to correct proxy-statement auditor-fee disclosure.
Important facts to verify
- Confirm that the corrected auditor-fee table replaces the erroneous table in Proposal No. 2 of the proxy statement.
- Verify the June 5, 2022 date and proposals for the Annual and Extraordinary General Meeting.
- Consider the 2020 audit-related fees in the context of the company’s initial public offering when comparing annual auditor costs.
- Review the company’s annual report or other filings for operating performance, cash position, debt, liquidity, and forward-looking information not included here.