Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 98

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 of $5.50 per share. The options vest in equal 25% installments
every 6 months beginning on the 6-month anniversary of the date of grant. The stock options were valued at the grant date using a Black-Scholes
option pricing model which will be recognized as stock-based compensation expense over the vesting period.

On January 14, 2025, the Company granted an aggregate
of 230,000 options to purchase the Company’s common stock to an officer and employees of the Company. The options each have a term
of 10 years from the date of grant and are exercisable at an exercise price of $5.50 per share. The options vest in equal 25% installments
every 6 months beginning on the 6-month anniversary of the date of grant. The stock options were valued at the grant date using a Black-Scholes
option pricing model which will be recognized as stock-based compensation expense over the vesting period.

During the three months ended March 31, 2024,
certain employees were terminated and accordingly, 17,500 unvested options were forfeited and $27,031 of previously recognized stock-based
compensation was reversed.

During the three months ended March 31, 2025,
accretion of stock-based expense related to stock options amounted to $155,054 which was recorded in compensation and related expenses
as reflected in the unaudited consolidated statements of operations. During the three months ended March 31, 2024, the Company recognized
total stock-based expenses related to stock options of $28,714 of which $6,695 was recorded in compensation and related expenses and $22,019
was recorded in professional and consulting expenses as reflected in the unaudited consolidated statements of operations. As of March
31, 2025, a balance of $1,085,264 remains to be expensed over future vesting periods related to unvested stock options issued for services
to be expensed over a weighted average period of 1.79 years.

During the three months ended March 31, 2025,
the stock options were valued at the grant date using a Black-Scholes option pricing model with the following assumptions. The simplified
method was used for the expected option term and expected volatility was based on historical volatility:

     2025   Dividend rate   —%  Term (in years)   6 years   Volatility