Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 27

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material
assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similarities
in economic characteristics such as nature of services; and procurement processes. All revenues and expenses as reflected in the accompanying
unaudited consolidated statements of operations and comprehensive loss are allocated to the one segment.

Recent accounting pronouncements

In November 2024, the FASB issued ASU 2024-03,
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires entities
to provide more detailed disaggregation of expenses in the income statement, focusing on the nature of the expenses rather than their
function. The new disclosures will require entities to separately present expenses for significant line items, including but not limited
to, depreciation, amortization, and employee compensation. Entities will also be required to provide a qualitative description of the
amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, disclose the total amount of selling
expenses and, in annual reporting periods, provide a definition of what constitutes selling expenses. This pronouncement is effective
for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early
adoption permitted. The Company does not expect the adoption of this new guidance to have a material impact on its consolidated financial
statements.  

In September 2025, the FASB issued ASU 2025-06, Targeted Improvements
to the Accounting for Internal-Use Software. The amendments in this update require internal-use software development cost capitalization
to begin when both of the following occur: management has authorized and committed to funding the software project, and it is probable
that the project will be completed and that the software will be used to perform its intended function. The amendments also eliminate
the accounting considerations of software development stages. The amendments in ASU 2025-06 are effective for fiscal years beginning after
December 15, 2027. Early adoption is permitted. The Company is evaluating the impact ASC 2025-06 will have on its consolidated financial
statements.

Management does not believe that any other recently
issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on its consolidated financial statements.

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MYSEUM, INC. AND SUBS