Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 51

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 to utilize the technology
that had been developed by our subsidiary.

24

Recent Events

On August 7, 2025, we filed a Certificate of Amendment
to our Amended and Restated Articles of Incorporation with the Secretary of State of the State of Nevada to change the name of the Company
to “Myseum, Inc.” In connection with the name change, the trading symbols for our common stock and Series A warrants
began trading on the Nasdaq Capital Market on August 11, 2025 as “MYSE” and “MYSEW”, respectively.

Basis of Presentation

The financial statements contained herein have
been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”)
and the requirements of the Securities and Exchange Commission.

Critical Estimates

This management’s discussion and analysis
of financial condition and results of operations is based on our financial statements, which have been prepared in accordance with U.S.
GAAP. The preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported
amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements,
and the reported amounts of revenue and expenses during the reported period. In accordance with U.S. GAAP, we base our estimates on historical
experience and on various other assumptions we believe to be reasonable under the circumstances. Actual results may differ from these
estimates if conditions differ from our assumptions. While our significant accounting policies and significant estimates are more fully
described in Note 2 in the “Notes to Financial Statements”, we believe the following estimates are critical to the process
of making significant judgments and estimates in preparation of our consolidated financial statements.

Capitalized internal-use software costs

We capitalize costs to develop or purchase internal-use
software in accordance with ASC section 350-40, Intangibles — Goodwill and Other — Internal-Use
Software. Costs incurred to develop internal-use software are expensed as incurred during the preliminary project stage. Internal-use
software development costs are capitalized upon purchase and during the application development stage, which is after: (i) the preliminary
project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed
and used to perform the intended function. Capitalization ceases at the point where the software project is substantially complete and
ready for its intended use, and after all substantial