My Size, Inc. Files Q2 2024 10-Q

TL;DR

My Size Inc. 10-Q filed for Q2 2024. Financials from Dec '23 & Mar '24 included.

AI Summary

My Size, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and first half of the fiscal year. Key financial data points from previous periods, such as December 31, 2023, and March 31, 2024, are referenced, including details on common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings.

Why It Matters

This filing provides investors with the latest financial performance and position of My Size, Inc. for the second quarter of 2024, crucial for understanding the company's ongoing operations and financial health.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided text.

Key Numbers

• Q2 2024 — Reporting Period (The primary period covered by the 10-Q filing.)
• June 30, 2024 — Period End Date (The specific date marking the end of the financial reporting period.)
• August 12, 2024 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• My Size, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240812 (date) — Filing date
• 7372 (dollar_amount) — Standard Industrial Classification code for Prepackaged Software
• 2023-12-31 (date) — Previous fiscal year end referenced
• 2024-03-31 (date) — Previous quarter end referenced

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share MYSZ Nasdaq Ca
• $1 — 5 (*) Represents an amount less than $1. (**) Adjusted to give retroactive e

Filing Documents

• form10-q.htm (10-Q) — 739KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-031274.txt ( ) — 3709KB
• mysz-20240630.xsd (EX-101.SCH) — 27KB
• mysz-20240630_cal.xml (EX-101.CAL) — 45KB
• mysz-20240630_def.xml (EX-101.DEF) — 94KB
• mysz-20240630_lab.xml (EX-101.LAB) — 268KB
• mysz-20240630_pre.xml (EX-101.PRE) — 202KB
• form10-q_htm.xml (XML) — 492KB

financial statements and the notes thereto for the year ended December 31, 2023

financial statements and the notes thereto for the year ended December 31, 2023. b. Significant Accounting Policies: The significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements. c. Critical accounting estimates: ASC 350 requires goodwill to be tested for impairment at the reporting unit level at least annually, or between annual tests under certain circumstances, and written down when impaired. Goodwill is tested for impairment by comparing the fair value of the reporting unit with it carrying value. During the first and second quarters of 2024, there was no more likely than not indication of impairment; therefore, no further impairment testing was required. d. Recent adopted accounting pronouncements: In June 2022, the FASB issued ASC 2022-03 "Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions". The ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring its fair value. The ASU also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The ASU also introduces new disclosure requirements for equity securities subject to contractual sale restrictions. The ASU do not have a material impact on the Company consolidated

financial statements

financial statements. In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity's Own Equity (Subtopic 815-40). This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock and amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related earnings per share guidance. This standard became effective for the Company beginning on January 1, 2024. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company adopted this guidance effective January 1, 2024, and the adoption of this standard did not have a material impact on its consolidated financial statements. Note 3 – Financial Instruments The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, other receivables, trade payables and accounts payable approximate their fair value due to the short-term maturities of such instruments. The Company holds share certificates in iMine Corporation ("iMine"), formerly known as Diamante Minerals, Inc., a publicly traded company on the OTCQB. Due to sales restrictions on the sale of the iMine shares, the fair value of the shares was measured on the basis of the quoted market price for an otherwise identical unrestricted equity instrument of the same issuer that trades in a public market, adjusted to reflect the effect of the sales restrictions and is therefore, ranked as Level 2 assets. Schedule of Significant Assets and Liabilities Measured at Fair Value on Recurring Basis June 30, 2024 Fair value hierarchy Level 1 Level 2 Level 3 Financial assets Investment in marketable securities (*) - 10 - 9 MY SIZE, INC. AND ITS SUBSIDIARIES Notes to Condensed Consolidated Interim Fina

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View this 10-Q filing on SEC EDGAR