Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 751

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 751
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 for the years ended December 31, 2024 and 2023 because it was not known whether future taxable income will be sufficient to
utilize the loss carryforward. The increase in the allowance was $1,225,288 and $1,597,948 in years 2024 and 2023.

Additionally, the future utilization of the net
operating loss carryforward to offset future taxable income may be subject to an annual limitation as a result of ownership changes that
could occur in the future. If necessary, the deferred tax assets will be reduced by any carryforward that expires prior to utilization
as a result of such limitations, with a corresponding reduction of the valuation allowance.

The Company does not have any uncertain tax positions
or events leading to uncertainty in a tax position. The Company’s 2021, 2022, 2023 and 2024 Corporate Income Tax Returns are subject
to Internal Revenue Service examination. 

NOTE 10 – SUBSEQUENT EVENTS

Sale of Common Shares

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 (the “Shares”) of common stock of the Company (the “Common Stock”),
at a purchase price of $4.25 per share of Common Stock (the “Offering”), for gross proceeds from the offering were approximately
$5.1 million, prior to deducting placement agent’s fees and other offering expenses payable by the Company. The shares of Common
Stock were offered by the Company pursuant to its shelf registration statement on Form S-3 (File No. 333-268058), which was declared effective
by the Securities and Exchange Commission on December 6, 2022, a base prospectus dated December 6, 2022 and a prospectus supplement dated
January 8, 2025. 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 after deducting placement fees and expenses of $563,000. The Company intends to use the net proceeds
from the offering for working capital and other general corporate purposes.

On January 7, 2025, the Company entered into an
engagement agreement with The Benchmark Company, LLC, as exclusive placement agent (“Benchmark” or the “