Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 33

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 allocate the proceeds between the Notes
and the Warrants, which may result in recording a debt discount on the Notes and a corresponding increase to paid-in capital.

During the nine months ended September 30, 2025,
the Company recorded $52 in interest expense on the accompanying unaudited consolidated statement of operations and comprehensive loss.
As of September 30, 2025, the outstanding principal balance and accrued interest payable of the notes payable is $40,000 and $52, respectively.

NOTE 8 – RELATED PARTY TRANSACTIONS

See Note 10 for the Employment Agreement with
the Company’s chief executive officer, Darin Myman.

During the nine months ended September 30, 2025
and 2024, the wife of the Company’s chief executive officer was employed as an executive secretary and earned $54,000 and $54,000,
respectively.

On January 10, 2024, VR Interactive LLC (“VR
Interactive”), a company 45% owned by Darin Myman, the Company’s Chief Executive Officer and 3.75% owned by Peter Shelus,
the Company’s chief technology officer and director, purchased 8,000,000 shares of RPM Interactive from the Metabizz shareholders
for cash amounting to $120,000. Mr. Myman is a partner in VR Interactive. Therefore, VR Interactive, a related party, became a 25% non-controlling
interest in RPM Interactive.

16

MYSEUM, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025 AND 2024

(Unaudited)

NOTE 9 – STOCKHOLDERS’ EQUITY

Shares Authorized

The authorized capital stock consists of 200,000,000
shares, of which 180,000,000 are shares of common stock and 20,000,000 are shares of preferred stock.

2021 Omnibus Equity Incentive Plan

On July 26, 2021, the Company adopted the 2021
Omnibus Equity Incentive Plan (the “2021 Equity Plan”) and authorized the reservation of 200,000 shares of common stock for
future issuances under the 2021 Equity Plan. The 2021 Equity Plan provides that the Company may grant options, stock appreciation rights,
restricted stock, restricted stock units, other stock-based awards or any combination of the foregoing. On December 19, 202