Bos Better Online Solutions Ltd 6-K, filed May 10, 2022
Bos Better Online Solutions Ltd (BOSC)
About this 6-K
Bos Better Online Solutions Ltd filed this 6-K on May 10, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6 - K
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d -16
Under the Securities Exchange Act of 1934
For the Month of May 2022
Commission file number 001-14184
B.O.S. Better Online Solutions Ltd.
(Translation of Registrant's Name into English)
20 Freiman Street, Rishon LeZion, 7535825, Israel
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___________
B.O.S. Better Online Solutions Ltd.
The Press Release that is attached to this Form 6-K, is hereby incorporated by reference into all effective Registration Statements filed by us under the Securities Act of 1933, as amended, to the extent not superseded by documents or reports subsequently filed or furnished.
The following exhibit is attached:
| 99.1 | Press Release: BOS Purchases Warehouses and Office Space for Self-use. |
1
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| B.O.S. Better Online Solutions Ltd. | ||
| (Registrant) | ||
| By: | /s/ Moshe Zeltzer | |
| Moshe Zeltzer | ||
| Chief Financial Officer | ||
Dated: May 10, 2022
2
EXHIBIT INDEX
| EXHIBIT NO. | DESCRIPTION | |
| 99.1 | Press Release: BOS Purchases Warehouses and Office Space for Self-use. |
3
Exhibit 99.1
BOS Purchases Warehouses and Office Space for Self-use
RISHON LE ZION, Israel, May 9, 2022 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) announced today that it has purchased 546 sqm of offices, 495 sqm of warehouses and nine parking spots in Rishon Le Zion, Israel. The purchased real-estate is part of the facilities BOS has been leasing in Rishon Lezion. BOS shall pay for this acquisition NIS 6.5 million (approximately $1.9 million).
Eyal Cohen, BOS’ CEO, stated: “BOS leases 2,131 sqm in Rishon Lezion and 710 sqm in Rosh Hain, both in Israel. Our monthly lease expense for the facilities we acquired amounts to $10,000. This lease expense, and our expectation that it shall increase significantly upon lease renewal, led us to pursue the acquisition.
We plan to finance the purchase by a long-term bank loan in the amount NIS 4.5 million (approximately $1.3 million) in addition to cash we have at hand.”
About BOS
BOS provides services and systems for inventory production and management in three channels:
| ● | Services – The Supply Chain division provides inventory procurement and kitting. |
| ● | Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse. |
| ● | Development – the Intelligent Robotics division develops and builds custom-made robotic cells for the industrial and logistic processes. |
Contact: Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com
Safe Harbor Regarding Forward-Looking Statements
The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd., inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS, the effect of exchange rate fluctuations, general worldwide economic conditions, the impact of the COVID-19 virus and continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the US Securities and Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.