Business Context and Reporting Period
This Form 8-K Current Report was filed by My Size, Inc. on June 6, 2019, covering events occurring on June 2, 2019. The Company is incorporated in Delaware and its common stock trades on The Nasdaq Capital Market under the symbol "MYSZ".
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Departure of Chairman: Eli Walles tendered his resignation as Chairman of the Board of Directors, effective immediately on June 2, 2019.
- Reason for Departure: The resignation was not the result of any disagreement with the Company regarding operations, policies, or practices.
- Employment Agreement Amendment: Mr. Walles's term of employment ceased as of June 1, 2019. The agreement was amended to provide an advance notice period of four months, entitling him to receive four monthly salaries.
- Option Extension: The termination date for all vested options granted to Mr. Walles was extended until June 1, 2020.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, outlook, management commentary on financial performance, or specific risk factors beyond the standard disclosure of the executive departure.
Investor Verification Checklist
- Confirm the appointment of a new Chairman of the Board to replace Eli Walles.
- Verify the impact of the four-month salary continuation on the Company's near-term cash flow and operating expenses.
- Review the Company's subsequent filings for any changes in strategic direction following the leadership transition.