AIRPORT CITY, Israel,
April 20, 2017 /PRNewswire/ --
MySize Inc. (the "Company" or "MySize") (Nasdaq: MYSZ; TASE:
MYSZ), developer of proprietary, smartphone measurement
applications, in a press release dated April
18, 2017, announced it had entered into a cooperation
agreement with the Israeli Postal Service (the "Israeli Post").
This press release was not a completely accurate description of the
parties interaction or relationship. While MySize has submitted a
proposal to the Israeli Post relating to a cooperation arrangement
in the form of a pilot program, which the Israeli Post has
indicated they are willing to undertake, the parties have not
entered into or signed any formal or definitive agreement, and do
not expect to enter into a formal or definitive agreement with
respect to the pilot program or new services until the completion
of the development and trial periods.
As previously disclosed, the pilot program calls for MySize to
develop and supply the Israeli Post with two new services. Once
these solutions are developed, MySize will provide the Israeli Post
with a three month trial period. Subsequent to the trial period,
the Israeli Post will have the service operational for another
three months at no charge. At the end of the second three month
period, the parties will determine whether, and on what commercial
terms, to enter into an agreement relating to this new service for
a non-exclusive agreement with the Israeli Post.
As stated in the prior press release, MySize's solution for the
courier market is proprietary to MySize, and MySize's goal is to
provide a solution to global Courier market. This application will
provide a solution to measure all types of packages using only a
smartphone. Based on the package size, the user will be quoted a
shipping price and picture of the package dimension.
In addition, the Israeli Post has developed relationships in the
online fashion apparel markets with fashion retailers and
contracted with MySize for solutions to ship the correct size with
using our "TrueSize" application.
These technology solutions are being developed in accordance
with the specifications provided by the Israeli Post. A team from
the Israeli Post will be selected to work on this project with
MySize staff.
Pursuant to MySize's proposal for the pilot program, all IP and
new patents developed shall remain the property of MySize.
About the Israel Postal Service:
The Israel Post, formerly the Israel Post Authority is a
government owned corporation that has 700 Post Office
branches.
About MySize
MySize Inc. (TASE: MYSZ) (NASDAQ: MYSZ) is developing unique
measurement technologies based on sophisticated algorithms and
cutting edge technology with broad applications including apparel
industry, e-commerce, shipping and parcel industry
measurement. This proprietary technology is driven by several
patent-pending algorithms which are able to calculate and record
measurements in a variety of novel ways. To learn more about
MySize, please visit our website. http://www.mysizeid.com.
Follow us on Facebook, LinkedIn and Twitter.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words "could," "believe,"
"anticipate," "intend," "estimate," "expect," "may," "continue,"
"predict," "potential," "project" and similar expressions that are
intended to identify forward-looking statements. All
forward-looking statements speak only as of the date of this press
release. You should not place undue reliance on these
forward-looking statements. Although we believe that our plans,
objectives, expectations and intentions reflected in or suggested
by the forward-looking statements are reasonable, we can give no
assurance that these plans, objectives, expectations or intentions
will be achieved. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from historical experience and present expectations or projections.
Known material factors that could cause actual results to differ
materially from those in the forward-looking statements include: an
active trading market for our common stock may not develop on
NASDAQ; the trading price for our common stock may fluctuate
significantly; and the Company will continue to be a "controlled
company," as defined under NASDAQ rules, and the interests of our
controlling stockholder may differ from those of our public
stockholders. Forward-looking statements also are affected by the
risk factors described in the Company's filings with the U.S.
Securities and Exchange Commission. Except as required by law, we
undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
Press Contact:
Marjie Hadad
MH Communications
marjierhadad@gmail.com
+972-54-536-5220
SOURCE MySize Inc.