Business Context and Reporting Period
This Form 8-K Current Report was filed by My Size, Inc. on January 22, 2019. The filing addresses a regulatory notification received from The Nasdaq Stock Market, LLC regarding the Company's compliance with listing standards.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on stock listing compliance rather than financial performance metrics.
Material Changes
The material event reported is the Company's failure to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. Specifically:
- The Company's common stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days prior to January 22, 2019.
- Trading of the stock under the symbol "MYSZ" continues without immediate interruption.
Outlook, Management Commentary, and Risks
Compliance Timeline: The Company has been granted an initial 180-day period, ending July 22, 2019, to regain compliance. To do so, the stock must close at or above $1.00 per share for 10 consecutive business days.
Contingencies: If compliance is not achieved by the initial deadline, the Company may be eligible for an additional 180-day period, provided it meets all other listing requirements and notifies Nasdaq of its intent to cure the deficiency. Failure to regain compliance during the second period could result in delisting, subject to an appeal process.
Management Action: Management intends to monitor the stock price and may consider implementing a reverse stock split to regain compliance.
Investor Verification Checklist
- Verify the current closing bid price of My Size, Inc. stock to assess proximity to the $1.00 threshold.
- Monitor upcoming announcements regarding the potential implementation of a reverse stock split.
- Track the Company's progress toward the July 22, 2019, compliance deadline.
- Review the Company's financial statements for underlying liquidity issues that may impact the stock price.