Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 386

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 386
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 the exercise of warrants. The following
trends are reasonably likely to result in changes in our liquidity over the near to long term:

    ●
    An increase in working capital requirements to finance our current
    business,

    ●
    Cost of research and development,

    ●
    Addition of administrative, technical and sales personnel as the business
    grows, and

    ●
    The cost of being a public company.

Cash Flows from Operating Activities

Net cash used in operating activities totaled
$4,388,385 and $6,529,277 for the years ended December 31, 2024 and 2023, respectively, a decrease of $2,140,892.

Net cash flow used in operating activities for the year ended December
31, 2024 primarily reflected a net loss of $5,025,007, adjusted for the add-back (reduction) of non-cash items consisting of depreciation
and amortization of $23,129, amortization of right of use assets of $73,977, accretion of stock-based stock option and common stock expense
of $123,300, a non-cash gain from deconsolidation of variable interest entities of $(107), foreign currency exchange loss of $12,965,
and non-cash research and development expense of $166,667, offset by changes in operating assets and liabilities primarily consisting
of an increase in prepaid expenses of $9,649, an increase in accounts payable and accrued expenses of $307,568, and a decrease in operating
lease liabilities of $83,674.

Net cash flow used in operating activities for the year ended December
31, 2023 primarily reflected a net loss of $8,404,970 adjusted for the add-back (reduction) of non-cash items consisting of depreciation
and amortization of $28,943, amortization of right of use assets of $60,549, accretion of stock-based stock option and common stock expense
of $2,254,079, a non-cash gain from initial consolidation of variable interest entities of $(42,737), impairment loss on digital assets
of $23,381, impairment of property and equipment of $43,671, and net realized gain on short-term investments of $327,145, offset by changes
in operating assets and liabilities primarily consisting of a decrease in prepaid expenses of $5,797, a decrease in accounts payable and
accrued expenses of $103,741