Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 96

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 96
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 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, expenses, and the related disclosures at the date of the consolidated financial
statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates include
assumptions used in assessing impairment of long-term assets, the valuation of intangible assets, the valuation of digital currencies
and other digital assets, the valuation of lease liabilities and related right of use assets, the valuation of short-term investments,
the valuation of deferred tax assets, the fair value of assets and liabilities of VIE’s on the initial VIE consolidation date, the
allocation of corporate expenses to subsidiaries which impacts noncontrolling interest, and the fair value of non-cash equity transactions.

Cash and cash equivalents

The Company considers all highly liquid debt instruments
and other short-term investments with maturities of three months or less, when purchased, to be cash equivalents. The Company maintains
cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation (“FDIC”).
The Company’s account at this institution is insured by the FDIC up to $250,000. On December 31, 2024 and 2023, the Company had
cash in excess of FDIC limits of approximately $524,000 and $446,000, respectively. To reduce its risk associated with the failure of
such financial institution, the Company evaluates at least annually the rating of the financial institution in which it holds deposits.
Any material loss that the Company may experience in the future could have an adverse effect on its ability to pay its operational expenses
or make other payments and may require the Company to move its cash to other high quality financial institutions.

Fair value measurements and fair value