Business Context and Reporting Period
This Form 8-K Current Report was filed by My Size, Inc. on December 5, 2017. The registrant is a Delaware corporation headquartered in Airport City, Israel. The report addresses a critical regulatory event regarding the company's 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 report focuses exclusively on compliance with listing standards rather than financial performance metrics.
Material Changes
The primary material change is the failure to regain compliance with NASDAQ Listing Rule 5550(b)(2), which requires a minimum Market Value of Listed Securities of $35 million. The company previously received notice on June 5, 2017, with a deadline of December 4, 2017, to meet this requirement. As of December 5, 2017, the company failed to meet this threshold.
Outlook, Risks, and Management Commentary
- Delisting Notice: NASDAQ notified the company that its securities will be delisted effective December 14, 2017, unless an appeal is requested.
- Appeal Strategy: Management intends to request an appeal before the Hearings Panel. This action will stay the delisting pending the panel's decision.
- Risk Factors: The company explicitly states that no assurance can be given that the appeal will be successful.
Investor Verification Checklist
- Verify the current market value of listed securities to confirm the breach of the $35 million threshold.
- Monitor the status of the appeal filed with the NASDAQ Hearings Panel.
- Check for subsequent filings regarding the final decision on the delisting determination.
- Review the company's plan to regain compliance if the appeal is unsuccessful.