Business Context and Reporting Period
This Form 8-K filing by My Size, Inc. (MYSZ) is dated October 1, 2019. The report addresses a critical corporate governance event regarding the company's continued listing status on the Nasdaq Capital Market.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on regulatory compliance status rather than financial performance metrics.
Material Changes and Events
- Delisting Notice: On July 23, 2019, Nasdaq notified the company of non-compliance with Listing Rule 5550(a)(2) (Bid Price Rule), which requires a closing bid price of at least $1.00 per share.
- Appeal Process: The company requested a hearing before the Nasdaq Hearings Panel, which stayed the delisting. The hearing took place on September 19, 2019.
- Panel Decision: On October 1, 2019, the Panel granted an extension for continued listing through January 20, 2020.
Outlook, Risks, and Contingencies
The extension of listing is conditional. The company must regain compliance with the Bid Price Rule by January 20, 2020, and demonstrate compliance with all other Nasdaq listing requirements. Failure to meet these conditions, or the occurrence of significant events during the extension period, will result in the delisting of the company's common stock from the Nasdaq Capital Market.
Investor Verification Checklist
- Verify the current closing bid price of MYSZ stock to assess progress toward the $1.00 threshold.
- Monitor the company's stock price performance between October 1, 2019, and the January 20, 2020 deadline.
- Review subsequent filings for any updates on the company's compliance status or additional Nasdaq communications.
- Confirm whether the company has announced any capital actions (e.g., reverse stock splits) intended to address the bid price deficiency.