Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 21

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 is based on a number of factors, including the length of time and
the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security,
such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required
to sell the security before recovery of its amortized cost basis.

Accounts receivable

The Company recognizes an allowance for losses
on accounts receivable and notes receivable in an amount equal to the estimated probable losses net of recoveries under the current expected
credit loss method. The allowance is based on an analysis of historical bad debt experience, current receivables aging and expected future
write-offs, as well as an assessment of specific identifiable customer accounts and notes receivable considered at risk or uncollectible.
On January 1, 2023, the Company adopted ASC 326, “Financial Instruments - Credit Losses”. In accordance with ASC 326, an allowance
is maintained for estimated forward-looking losses resulting from the possible inability of customers to make the required payments (current
expected losses). The amount of the allowance is determined principally on the basis of past collection experience and known financial
factors regarding specific customers. The expense associated with the allowance for doubtful accounts on accounts receivable is recognized
in general and administrative expenses. As of September 30, 2025 and December 31, 2024, accounts receivable amounted to $224 and $207,
respectively.

Property and equipment

Property and equipment are stated at cost and
are depreciated using the straight-line method over their estimated useful lives, which range from three to five years. Leasehold improvements
are depreciated over the shorter of the useful life or lease term including scheduled renewal terms. Maintenance and repairs are charged
to expense as incurred. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts,
and any resulting gains or losses are included in income in the year of disposition. The Company examines the possibility of decreases
in the value of these assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable.

10

MYSEUM, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025 AND 2024

(Unaudited)

Capitalized internal-use software costs

The Company capitalizes costs to develop or purchase
internal-use software in accordance with