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.
Also Read: How Marketing Can Support Sales Processes and Boost Growth
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.
For more such updates follow us on Google News TalkCMO News. Subscribe to our Newsletter for more update
