Company: MYSZ
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000990
Chunk: 584

Company: My Size, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 584
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U.S.
dollars in thousands (except share data and per share data)

NOTE
2 - SIGNIFICANT ACCOUNTING POLICIES (Cont.)

c.
Principles of consolidation:

The
consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and
transactions have been eliminated upon consolidation.

d.
Cash equivalents:

Cash
equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or
less at the date acquired.

e.
Restricted cash

Restricted
cash are deposits for rent, credit card and for hedging activities.

f.
Inventories:

Inventories
are measured at the lower of cost or net realizable value. The cost of inventories comprises of the costs incurred in bringing the inventories
to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business. At the
point of the loss recognition, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances
do not result in the restoration or increase in that newly established cost basis. The costs of purchase of inventories comprise the
purchase price and other costs directly attributable to the acquisition of finished goods. Net realizable value is the estimated selling
price in the ordinary course of business. At the point of the loss recognition, a new, lower-cost basis for that inventory is established,
and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.
In 2024 and 2023, the company recorded an inventory mark-down of $30 and $39 respectively.

g.
Property and equipment:

Property
and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated by the straight-line method over the estimated
useful lives of the assets, at the following annual rates:

SCHEDULE
OF PROPERTY AND EQUIPMENT ANNUAL RATE

    %

    Computers and peripheral equipment 
     33 
  
    Office furniture and equipment 
     7-20 
  
    Leasehold improvements 
     Over the term of the lease or the useful life of the improvements, whichever is shorter 

h.
Impairment of long-lived assets:

The
Company’s property and equipment are reviewed for impairment in accordance with ASC 360, “Property Plant and Equipment”,
whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recover