After Registering its First Patent for the Body Measurement Technology: Management Believes "My Size" is the First in the World to Present Improved Measurement Capabilities on Small Areas
AIRPORT CITY, Israel, October 30, 2017 /PRNewswire/ --
My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), developer of proprietary, smartphone measurement applications, announced today that it has successfully improved its measurement algorithm to an exceptional accuracy level of 1 cm. This improved accuracy level will be integrated in the next version of the Company's application. The improvement will apply mainly to small areas such as on objects which are under 50 cm in size. Management believes that measurement accuracy will be plus or minus1 cm instead of the current plus or minus2 cm. On surfaces ranging from 50 to 200 cm, management believes that measurement accuracy will be plus or minus2 cm, and on surfaces which are greater than 200 cm, the measurement accuracy will be plus or minus2%.
In addition, My Size recently announced that it registered its first patent for body measurement technology in Russia, thus attaining international recognition for the uniqueness and innovativeness of its technology. The patent issued in Russia will expire 20 years after submission, or on January 20, 2033.
According to Ronen Luzon, CEO of My Size, "The technological improvement of our measurement algorithm, along with the registration of the patent in Russia, comprise an important milestone for the Company and position My Size at the forefront on matters relating to measurement technology in the e-commerce market. We invest time and resources in the development of our products and believe that the last developments will increase the popularity of our measuring tape."
The SizeUp "Measurement from the Air" application, available for download for Android and iOS users, enables users to immediately and accurately measure smooth or rough surfaced objects by placing the smartphone on one side, vertically or horizontally, slightly lifting it and transferring it to the other side. Spaces between surfaces can be measured and there is no need to clean the surface before performing the measurement. In addition, the application displays the previous measurement and measurements can be shared with friends. The application is broadly used throughout the global market and is capable of measuring in inches or centimeters. The application has exceeded 400,000 downloads and it is available for free download and use for 30 days after the initial download.
1. Please click here [https://www.youtube.com/watch?v=nCNHRyt-X1o ] to view a short video illustrating how the SizeUp "measurement from the air" smart measuring tape makes shopping easier and more fun than ever.
2. Please click here [https://play.google.com/store/apps/details?id=com.mysizeid.sizeup&referrer=af_tranid%3DX4pWvlKFasDX68nOrjS3ng%26pid%3Dpress%26c%3DSizeUp%20May%202017 ] to download SizeUp "measurement from the air" smart measuring tape for Android.
3. Please click here [https://itunes.apple.com/il/app/id1031088133?mt=8 ] to download the SizeUp "measurement from the air" smart measuring tape for iOS.
4. Please click here [http://showstoppers_ces.vporoom.com/MySize ] to access our electronic press kit.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting edge technology with broad applications including the apparel, e-commerce, DIY, shipping and parcel delivery industries. This proprietary technology is driven by several algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website. http://www.mysizeid.com. Follow us on Facebook [https://www.facebook.com/mysizeid ], LinkedIn [https://www.linkedin.com/company/mysizeid ] and Twitter [https://twitter.com/mysizeinc ] .
Cautionary Statement Regarding Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include: an active trading market for our common stock may not develop on NASDAQ; the trading price for our common stock may fluctuate significantly; and the Company will continue to be a "controlled company," as defined under NASDAQ rules, and the interests of our controlling stockholder may differ from those of our public stockholders. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Press Contact:
Eran Yoels
Rimon, Cohen and Co.
Eran@rcspr.co.il
+972-52-440-8020
SOURCE MySize Inc.
