Company: MYSZ
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000990
Chunk: 120

Company: My Size, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 120
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it is the Company’s functional currency. The reporting currency according to which these financial statements are prepared is the
U.S. dollar.

The
currency of the primary economic environment in which the operation of the subsidiaries, My Size Israel and Orgad International Marketing
Ltd. functional currency is the New Israeli Shekel (“NIS”).

The
currency of the primary economic environment in which the operation of the subsidiary, My Size LLC, functional currency is the
Russian Ruble.

The
currency of the primary economic environment in which the operation of the subsidiary, Naiz fit, functional currency is the
Euro.

    F-8

MY
SIZE, INC. AND ITS SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

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