Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 88

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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     (72,620) 
     (67,079)

    $27,895  
    $33,436 

For the three months ended March 31, 2025 and 2024, depreciation of
property and equipment amounted to $5,541 and $5,782, respectively.

NOTE 5 – INTERNAL-USE SOFTWARE

As of March 31, 2025 and December 31, 2024, internal-use software,
net consists of the following:

    Useful Life (Years) 
    March 31, 2025  
    December 31, 2024 
  
    Internal-use software 
    3 Years 
    $1,122,625  
    $1,050,000 
  
    Less accumulated amortization 
      
     -  
     - 
  
    Internal-use software, net 
      
    $1,122,625  
    $1,050,000 

On October 29, 2024 (the “Closing Date”
and measurement date), RPM Interactive entered into and closed on a Share Exchange Agreement (the “Share Exchange Agreement”)
with (i) RPM Florida and (ii) the shareholders of RPM Florida (See Note 1). Pursuant to the Share Exchange Agreement, RPM Interactive
acquired 100% of the shares of RPM Florida in exchange for 3,500,000 shares of RPM Interactive’s common stock. RPM Florida is a
web publishing company that leverages generative AI systems to offer consumers entertaining gaming apps and podcasting offerings in the
sports, finance, entertainment and politics categories. These shares were valued at $1,050,000, or $0.30 per share, on the measurement
date based on recent sales of shares of RPM Interactive’s common stock. Pursuant to ASU 2017-01 and ASC 805, RPM Interactive analyzed
the Exchange Agreement and the business of RPM Florida to determine if RPM Interactive acquired a business or acquired assets. Other than
owning certain in-development internal-use software, RPM Florida had no operations or no employees and was not considered a business.
Based on this analysis, it was determined that RPM Interactive acquired an asset. No goodwill was recorded since the Exchange Agreement
was accounted for as an asset purchase. In accordance with ASC 805, the fair value of the assets acquired is based on either the fair
value of the consideration given or the fair value of the assets acquired