Business Context and Reporting Period
My Size, Inc. (MYSZ), a Delaware corporation headquartered in Israel, filed this Form 8-K on January 4, 2022. The report addresses a regulatory notification received on January 3, 2022, regarding the company's compliance status with Nasdaq listing standards.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on corporate governance and listing compliance matters.
Material Changes and Events
- Delisting Notification: The company received a Notification Letter from Nasdaq stating it failed to meet the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2).
- Deficiency Period: The non-compliance was based on the closing bid price for the 30 consecutive business days prior to the notification.
- Trading Status: The notification has no immediate effect; the common stock continues to trade on the Nasdaq Capital Market under the symbol "MYSZ."
Outlook, Management Commentary, and Risks
- Compliance Timeline: The company has 180 calendar days (until July 5, 2022) to regain compliance. This requires a closing bid price of at least $1.00 per share for 10 consecutive business days.
- Secondary Compliance Period: If the company fails to comply by July 5, 2022, it may be eligible for an additional 180-day period if it meets all other initial listing standards (excluding bid price) and provides written notice of intent to cure.
- Delisting Risk: Failure to qualify for or succeed in the second compliance period will result in a determination to delist the stock, subject to an appeal process.
- Management Action: Management intends to monitor the stock price and may consider a reverse stock split to regain compliance.
Investor Verification Checklist
- Verify the current closing bid price of MYSZ stock relative to the $1.00 threshold.
- Monitor the company's announcement regarding the implementation of a reverse stock split.
- Track the 180-day compliance deadline ending July 5, 2022.
- Review future filings for updates on the market value of publicly held shares if a second compliance period is sought.