Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 1433

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1433
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 equal to the estimated probable losses net of recoveries under the current expected
credit loss method. The allowance is based on an analysis of historical bad debt experience, current receivables aging and expected future
write-offs, as well as an assessment of specific identifiable customer accounts and notes receivable considered at risk or uncollectible.
On January 1, 2023, the Company adopted ASC 326, “Financial Instruments - Credit Losses”. In accordance with ASC 326, an allowance
is maintained for estimated forward-looking losses resulting from the possible inability of customers to make the required payments (current
expected losses). The amount of the allowance is determined principally on the basis of past collection experience and known financial
factors regarding specific customers. The expense associated with the allowance for doubtful accounts on accounts receivable is recognized
in general and administrative expenses. As of December 31, 2024 and 2023, accounts receivable amounted to $207 and $183, respectively,
and for the years ended December 31, 2024 and 2023, the Company did not recognize any bad debt expense.

Accounting for digital currencies and other
digital assets

The Company accounts for digital currencies and
other digital assets held as indefinite-lived intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other
(“ASC 350”). The Company has ownership of and control over its digital currencies and digital assets and the Company may use
third-party custodial services to secure them. The digital currencies and digital assets are initially recorded at cost and are subsequently
remeasured, net of any impairment losses incurred since acquisition. The Company believes that digital currencies and other digital assets
meet the definition of indefinite-lived intangible assets and accounts for them at historical cost less impairment, applying the guidance
in ASC 350. The Company monitors any standard-setting, regulatory or technological developments that may affect the Company’s accounting
for digital currencies or its controls and processes related to digital currencies.

F-11

DATCHAT, INC. AND SUBSIDIARIES AND CONSOLIDATED ENTITIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024 and 2023

The Company determines the fair value of its digital
currencies and other digital assets on a nonrecurring basis in accordance with ASC 820, Fair Value Measurement, based on quoted prices
on the active exchange(s) that it has determined is the principal market for Ethereum (Level