Business Context and Reporting Period
This Form 8-K was filed by My Size, Inc. on September 12, 2018, reporting an event that occurred on September 6, 2018. The Company is incorporated in Delaware and maintains its principal executive offices in Airport City, Israel.
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 regulatory compliance regarding stock listing status rather than financial performance.
Material Changes
On September 6, 2018, the Company received a Notification Letter from The NASDAQ Stock Market, LLC stating it is not in compliance with NASDAQ Listing Rule 5550(a)(2). The deficiency stems from the common stock failing to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. There is no immediate effect on the listing or trading of the stock, which continues to trade under the symbol "MYSZ".
Guidance, Outlook, and Risks
- Compliance Timeline: The Company has 180 calendar days, until March 5, 2019, to regain compliance. This requires a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days.
- Contingencies: If compliance is not met by the initial deadline, an additional 180-day period may be granted if the Company meets all other continued listing requirements and notifies NASDAQ in writing. Failure to qualify for or meet the second period will result in a delisting determination, subject to appeal.
- Management Action: The Company intends to monitor the bid 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. common stock to assess proximity to the $1.00 threshold.
- Monitor the Company's stock price performance over the next 10 consecutive business days to determine if the initial compliance window is met.
- Review future filings for announcements regarding a potential reverse stock split or other capital structure changes.
- Track the March 5, 2019 deadline for the initial compliance period and any subsequent extensions.