Business Context and Reporting Period
My Size, Inc. filed this Form 8-K on June 5, 2017, reporting a regulatory notice received from the NASDAQ Stock Market LLC. The Company is an emerging growth company incorporated in Delaware with principal executive offices in Israel.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The only quantitative metric disclosed is the Market Value of Listed Securities (MVLS) threshold of $35 million, which the Company failed to maintain for 30 consecutive business days.
Material Changes
The material event reported is the failure to satisfy the NASDAQ Listing Rule 5550(b)(2) regarding the minimum Market Value of Listed Securities. The Company's stock did not maintain the required $35 million MVLS for the preceding 30 consecutive business days prior to June 5, 2017.
Outlook, Risks, and Management Commentary
- Delisting Status: The notice has no immediate effect on the listing or trading of the Company's common stock, which continues to trade on the NASDAQ Capital Market under the symbol "MYSZ."
- Compliance Period: The Company has a 180-calendar-day grace period, ending December 4, 2017, to regain compliance.
- Path to Compliance: Compliance can be achieved if the MVLS reaches or exceeds $35 million for a minimum of 10 consecutive business days during the grace period.
- Management Action: Management stated the Company will endeavor to rectify the situation and meet the MVLS Requirement.
Investor Verification Checklist
- Verify the current Market Value of Listed Securities (MVLS) to assess proximity to the $35 million threshold.
- Monitor the stock price and trading volume to determine if the 10-day consecutive compliance window can be met before December 4, 2017.
- Review subsequent filings for any updates on the Company's plan to increase market value or potential delisting proceedings if the grace period expires without compliance.