Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 8

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 8
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 in 2014, and since then there have been a limited
amount of downloads of the application. To date, we have minimal revenues. As reflected in the accompanying consolidated financial statements,
for the years ended December 31, 2024 and 2023, we incurred a net loss of $5,025,007 and $8,404,970, respectively. Additionally, for the
years ended December 31, 2024 and 2023, we used cash in operations of $4,388,385 and $6,529,277, respectively. As of December 31, 2024,
we had working capital of $3,657,711. We intend, in the long term, to derive revenues from advertisement sales, technology licensing,
and other forms of revenue. The application is available for download on certain mobile platforms and we are developing compatibility
with other platforms. We also continue to develop and refine functions of the application.

6

We have not developed a strong customer
base, and we have not generated sustainable revenue since inception. We cannot assure you that we ever will. We will incur significant
losses in launching products and we may not realize sufficient subscriptions or profits in order to sustain our business.

We have not yet developed a strong customer base
and we have not generated sustainable revenue since inception. We are subject to the substantial risk of failure facing businesses seeking
to develop and commercialize new products and technologies. Maintaining and improving our platform will require significant capital.
We will also incur substantial accounting, legal and other overhead costs as a public company. If our offerings to customers are unsuccessful,
result in insufficient revenue or result in us not being able to sustain revenue, we will be forced to reduce expenses, which may result
in an inability to gain new customers.

We may fail to develop new products or
may incur unexpected expenses or delays.

Although the application is currently available
for download, we may need to develop various new technologies, products and product features to remain competitive. Due to the risks
inherent in developing new products and technologies, limited financing, loss of key personnel, and other factors, we may fail to develop
these technologies and products or may experience lengthy and costly delays in doing so. Although we are able to license some of our
technologies in their current stage of development, we cannot assure that we will be able to develop new products or enhancements to
our existing products in order to remain competitive.

We are dependent on the services of certain
key management personnel