Company: MYSZ
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000990
Chunk: 321

Company: My Size, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 321
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the non-current liabilities as “Operating lease liability – long term” on the Company’s December 31, 2024
consolidated balance sheets in an amount of $181.

In August 2024, the Company entered into a new office space lease agreement.
The lease term is for 12 months beginning on July 1, 2024 and ending on June 30, 2025, with an option to extend for an additional 12 months.

Monthly
rent payments for the previous office space including utilities amounted to approximately USD 14
(NIS 49,500)
per month. For the new office space the monthly rent payments including utilities amounted to approximately $2
per month.

In
addition, the Company entered into a three-year cancelable operating lease agreement for cars.

These
operating leases are included in “Right of use asset” on the Company’s December 31, 2024 consolidated balance
sheets and represent the Company’s right to use the underlying asset for the lease term. The Company’s obligations to
make lease payments are included in the current liabilities as “Operating lease liability” and in the non-current
liabilities as “Operating lease liability - long term” on the Company’s December 31, 2024 consolidated balance
sheets. As of December 31, 2024, right-of-use of asset was $23 based on the extension of the lease period (24 months in total).
Operating lease liabilities were $15
and non current operating lease liabilities were $8.

Because
the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present
value of the lease payments.

The
interest rate used to discount future lease payment was 21.8%.

Maturities
of lease liabilities as of December 31, 2024 were as follows:

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

    Year
    Ending: 

    2025 
    $18 
  
    2026 
    $9 
  
    Thereafter 
    $- 
  
    Less
    imputed interest: 
    $(4)
  
    Total
    lease liabilities 
    $23 

    F-16

MY
SIZE, INC. AND ITS SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

U.S.
dollars in thousands (except share data and per share data)

NOTE
7 – Goodwill and other Int