MY SIZE, INC. (MYSZ) SPO
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|Company Name||MY SIZE, INC.|
|Company Address||3 ARAVA ST.
AIRPORT CITY 7010000
|Employees (as of 2/1/2018)||10|
|State of Inc||DE|
|Fiscal Year End||12/31|
|Shares Over Alloted||0|
|Shareholder Shares Offered||--|
|Lockup Period (days)||180|
|Quiet Period Expiration||3/13/2018|
We estimate that our net proceeds from the sale of the common stock and Warrants offered pursuant to this prospectus supplement will be approximately $5.4 million, based upon the combined public offering price of $2.00 per share and warrant and after deducting the placement agent fees and the estimated offering expenses that are payable by us and excluding the proceeds, if any, from the exercise of the Warrants issued pursuant to this offering. We currently intend to use the net proceeds from this offering for capital expenditures, repayment of indebtedness, and working capital. We have not yet determined the amount of net proceeds to be used specifically for any of the foregoing purposes. Accordingly, our management will have significant discretion and flexibility in applying the net proceeds from this offering. Pending any use, as described above, we intend to invest the net proceeds in high-quality, short-term, interest-bearing securities.
Management of the Company believes that its technology and applications are a win-win solution for consumers, retailers, couriers and individuals. The Company’s technology is protected by three issued patents, one in each of Russia, Japan and the U.S., one patent-pending submission and an additional patent application which is in process. My Size’s products are designed to allow users to measure themselves simply by sliding a smartphone over their body, and the measurements are recorded by the My Size application. Unlike other products claiming similar capabilities, there is no need for additional accessories (no webcam, photos, measuring tape, etc.). Users of the My Size apps will have their information protected and a unique identification number is provided that matches personal sizes with retailer size charts. When consumers get the right size products, there are fewer returns of such products involved. My Size’s advantage lies in its easy to use application in recording body measurements. Using special algorithmic equations, the software is able to determine which sizes will best fit the customer. The collection of this data, and tracking shoppers’ preferences, allows for a unique shopping experience both online and in brick and mortar stores where the technology can instantly match clothes the customer likes in sizes that will fit them. However, My Size does face competition in helping retailers increase conversation rate and reduce shipping costs. Competitive Landscape The following chart lists some but not all of our competitors: Name Technology User Action Product / Service Algorithm driven engine . Based on statistics; True Fit matches manufacturer Answer questions to doesn’t reflect real specs and data points create profile measurement with customer profile Software solution based . Virtual fitting room on a personal avatar; size Fits.me Algorithm driven engine Answer questions to . Recommendations based matches manufacturer create profile on statistics specs and data points with customer profile Reference items: a Compares a reference previous purchase or . Garment-to-garment Virtusize item the silhouette of a favorite item. comparison with tape the garment they are Measure it manually measure (manually) looking to buy and enter results to the app User needs to . Allows the user to photograph according measure large objects Uses camera and motion to the instructions and from far away (i.e. EasyMeasure sensors and conditions of a building). Low the app. (i.e accuracy requires certain lighting optimal lighting conditions) conditions . Only on iOS platform . Very intuitive Allows the user to . Requires bright light, AR MeasureKit AR kit and motion measure objects from and a contrast between sensors a distance with the the object and the camera background . When measuring small objects it can be difficult to “mark” them . Only on iOS platform Allows the user to . Easy to use Smart Measure Camera and motion measure objects from . Requires the user to sensors a distance . know the height of the device . Requires optimal lighting conditions . Only on Android platform Some of our competitors have significantly greater financial, marketing, personnel and other resources than we do, and many of our competitors are well established in markets in which we have existing retailers or intend to locate new retailers. We may also need to evolve our concepts in order to compete with popular new retail formats or concepts that develop from time to time, and we cannot offer any assurance that we will be successful in doing so or that modifications to our concepts will not reduce our profitability.
The Company is a technology company whose strategy is based on the development of applications that can be utilized to accurately take measurements of a variety of items via a smartphone. By downloading the application to a smartphone, the user is then able to run the smartphone over the surface of
an item the user wishes to measure. The information is then automatically sent to a cloud-based server where the dimensions are calculated through the Company’s proprietary algorithms, and the accurate measurements (+ or - 2 centimeters) are then sent back to the users smartphone. We believe that the commercial applications for this technology are significant in many areas. Currently, we are focusing on the following market segments: . E-commerce apparel industry – our main target-market; . Courier services; . Do it yourself (“DIY”) uses; and . Usage as a tape measure. While we are currently devoting much of our focus on the applications for the apparel business, management believes that all of the above mentioned applications will be useful to users, retailers and vendors alike. --- The Company was incorporated in the State of Delaware and commenced operations in September 1999 under the name Topspin Medical, Inc. In December 2013, the Company changed its name to Knowledgetree Ventures Inc. Subsequently, in February 2014, the Company changed its name to My Size, Inc. Our principal executive offices are located at 3 Arava St., pob 1026, Airport City, Israel 7010000, and our telephone number is +972-3-600-9030. Our website address is www.MySizeID.com.
|Auditor||Somekh Chaikin CPAs (Israel), a member firm of KMPG Internati...|
|Company Counsel||Sheppard, Mullin, Richter and Hampton LLP|
|Lead Underwriter||Roth Capital Partners, Inc|
|Transfer Agent||VStock Transfer, LLC|
|Underwriter Counsel||Ellenoff Grossman & Schole LLP|
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