Company: MYSZ
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010830
Chunk: 8

Company: My Size, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 on the
    region. Following Russia’s actions, various countries, issued broad-ranging economic sanctions against Russia. Such sanctions included,
    among other things, a prohibition on doing business with certain Russian companies, officials and oligarchs; a commitment by certain countries
    and the European Union to remove selected Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT)
    electronic banking network that connects banks globally; and restrictive measures to prevent the Russian Central Bank from undermining
    the impact of the sanctions.
     
    The Company shut down its operation in Russia and is expected to close
down its subsidiary, My Size LLC, but due to technical reasons it is expected to occur in the near future. Therefore, the impact from
the current situation is very limited.

    7

MY SIZE, INC. AND ITS SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial
Statements (Unaudited)

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

Note 2 - Significant Accounting Policies

    a.
    Unaudited condensed consolidated financial statements:

    The accompanying unaudited condensed consolidated interim financial statements included herein have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements are comprised of the financial statements of the Company. In management’s opinion, the interim financial data presented includes all adjustments necessary for a fair presentation. All intercompany accounts and transactions have been eliminated. Operating results for the three months ended March 31, 2025 not necessarily indicative of the results that may be expected for any future period or for the year ending December 31, 2025.

    These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2024.

    b.
    Significant Accounting Policies:

    The significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements.

Note 3 – Financial Instruments

The carrying amounts of cash and cash equivalents,
restricted cash, accounts receivable, other receivables, trade payables, accounts payable and short and long term loans approximate their
fair value due to the short-term maturities of such instruments.