Business Context and Reporting Period
This Form 8-K Current Report was filed by My Size, Inc. (NASDAQ: MYSZ) on March 10, 2025, covering events occurring on March 6, 2025. The filing addresses significant changes in the Company's executive leadership and Board of Directors composition.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial disclosure relates to a new service agreement with Accounting Team Ltd., a 100% owned entity of the incoming CFO, Oren Elmaliah. The Company agreed to pay a monthly fee of NIS 40,000 (approximately $11,000) for bookkeeping, controller, and CFO services effective March 1, 2025.
Material Changes
- CFO Departure: Or Kles resigned as Chief Financial Officer, effective March 31, 2025.
- CFO Appointment: Oren Elmaliah was appointed as Chief Financial Officer, effective April 1, 2025. Concurrently, Mr. Elmaliah stepped down from the Board of Directors and all its committees.
- Board Appointment: Roy Golan was appointed as a Class I Director to replace Mr. Elmaliah, effective immediately. Mr. Golan was also appointed Chair of the Audit Committee and member of the Compensation and Nominating and Corporate Governance Committees.
Outlook, Risks, and Management Commentary
The filing includes biographical details for the new appointees but offers no forward-looking guidance, risk factors, or management commentary regarding the Company's business outlook. Mr. Golan brings extensive experience as a CFO for several clinical-stage and commercial-stage biopharmaceutical companies, including Neurosense Therapeutics, Ayala Pharmaceuticals, BioSight, Exalenz Bioscience, and NeuroDerm. The filing confirms no undisclosed arrangements or family relationships regarding Mr. Golan's appointment.
Investor Verification Checklist
- Verify the transition timeline between the outgoing CFO (Or Kles) and incoming CFO (Oren Elmaliah) to ensure continuity of financial reporting.
- Review the definitive proxy statement filed on November 4, 2024, for the full biography of Oren Elmaliah.
- Confirm the terms of the service agreement with Accounting Team Ltd. and assess any potential related-party transaction implications.
- Monitor the composition of the Audit Committee under the new chair, Roy Golan, given his recent tenure as CFO at other public biotech firms.