Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 327

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 327
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     1,050,000  
     - 
  
    Total assets 
    $1,496,670  
    $5,862 

    Due to DatChat (eliminates in consolidation) 
    $4,990,706  
    $1,023,746 
  
    Accounts payable and accrued expenses 
     26,845  
     - 
  
    Total liabilities 
    $5,017,551  
    $1,023,746 

Liquidity

The accompanying consolidated financial statements have been prepared
on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course
of business. As of December 31, 2024, we had cash and cash equivalents of $1,196,699, short-term investments of $2,952,512, and working
capital of $3,657,711. Short-term investments include U.S. Treasury zero coupon bills that are all highly rated and have initial maturities
between four and twelve months. Additionally, on January 8, 2025, the Company entered into a securities purchase agreement (the “Purchase
Agreement”) with certain institutional investors pursuant to which the Company agreed to sell to such investors 1,200,000 shares
of common stock of the Company at a purchase price of $4.25 per share of Common Stock (the “Offering”). The closing of the
sales of these securities under the Purchase Agreement took place on January 9, 2025 and the Company received net proceeds of $4,537,000
(See Note 10). Net cash used in operations was $4,388,385 for the year ended December 31, 2024. Until such time that the Company implements
its growth strategy, it expects to continue to generate operating losses in the foreseeable future, mostly due to corporate overhead,
research and development, and costs of being a public company. The Company believes that its existing working capital of $3,657,711 plus
cash raised in 2025 of $4,537,000 will provide sufficient cash to enable the Company to meet its operating needs and debt requirements
for the next twelve months from the issuance date of this report.

Use of estimates

The preparation of the financial statements in
conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect
the reported amounts of assets, liabilities, revenues