TEL AVIV, Israel,
July 7,
2022 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ)
(TASE: MYSZ.TA) ("MySize" or the "Company"), an
omnichannel e-commerce platform and provider of AI-driven
measurement solutions to drive revenue growth and reduce costs for
its business clients, today announced the receipt of a notice from
Nasdaq granting the Company an additional 180 day period, or until
January 2, 2023, to meet Nasdaq's
minimum $1.00 bid price per share
requirement.
The Company was first notified by Nasdaq of its failure to
maintain a minimum bid price of $1.00
per share for 30 consecutive trading days under Nasdaq Listing Rule
5550(a)(2) and 5810(c)(3)(A) on January 3, 2022, and was given
until July 5, 2022 to regain compliance. The Company did not regain
compliance with the minimum $1 bid price per share requirement
during the first 180 calendar day compliance period and submitted
written request to the Nasdaq to afford it an additional 180-day
compliance period to cure the deficiency.
If at any time before January 2,
2023, the bid price of the Company's common stock is at
least $1.00 per share for a minimum
of 10 consecutive business days, Nasdaq is expected to provide
written confirmation of compliance to the Company and the listing
compliance matter will be closed.
"Nasdaq's extension is well received by MySize, as we expect
significant momentum in our revenue and operational performance
over the next six months. As reported in our first quarter
financial report, our revenue guidance for calendar 2022 is
$5 million, a substantial increase
over prior years," said Ronen Luzon, CEO, and Founder of
MySize.
About MySize Inc.
MySize, Inc. (NASDAQ: MYSZ)
(TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider
of AI-driven measurement solutions to drive revenue growth and
reduce costs for its business clients. Orgad, its online retailer
platform, has expertise in e-commerce, supply chain, and technology
operating as a third-party seller on Amazon.com and other sites.
MySize recently launched FirstLook Smart Mirror, a mirror-like
touch display that provides in-store customers an enhanced shopping
experience and contactless checkout. FirstLook Smart Mirror extends
MySize's reach into physical stores and is expected to contribute
to revenues through unit sales and recurring service fees.
MySize has developed a unique measurement technology based on
sophisticated algorithms and cutting-edge technology with broad
applications, including the apparel, e-commerce, DIY, shipping, and
parcel delivery industries. This proprietary measurement technology
is driven by several algorithms that are able to calculate and
record measurements in a variety of novel ways. To learn more about
MySize, please visit our website: www.mysizeid.com.
We routinely post information that may be important to investors
in the Investor Relations section of our website. Follow us
on Facebook, LinkedIn, Instagram,
and Twitter.
Please click here for a demonstration of how MySizeID
provides a full sizing solution for the retail industry.
Register here for a free plan of MySizeID solution for
your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for
Android.
To learn more about MySize and for additional information,
please visit: our website: www.mysizeid.com.
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. Actual results to differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. 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.
Investor Contacts:
Or Kles, CFO
ir@mysizeid.com
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SOURCE My Size Inc.