Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 1195

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1195
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 Interactive’s common stock. RPM Florida is a web publishing
company that leverages generative AI systems to offer consumers entertaining gaming apps and podcasting offerings in the sports, finance,
entertainment and politics categories. These shares were valued at $1,050,000, or $0.30 per share, on the measurement date based on recent
sales of shares of RPM Interactive’s common stock. Pursuant to ASU 2017-01 and ASC 805, RPM Interactive analyzed the Exchange Agreement
and the business of RPM Florida to determine if RPM Interactive acquired a business or acquired assets. Other than owning certain in-development
internal-use software, RPM Florida had no operations or no employees and was not considered a business. Based on this analysis, it was
determined that RPM Interactive acquired an asset. No goodwill was recorded since the Exchange Agreement was accounted for as an asset
purchase. In accordance with ASC 805, the fair value of the assets acquired is based on either the fair value of the consideration given
or the fair value of the assets acquired, whichever is more clearly evident, and thus, more reliably measurable. RPM Interactive used
the market price of the 3,500,000 common shares issued of $1,050,000 as the fair value of the assets acquired since this value was more
clearly evident, and thus, more reliable measurable than the fair value of the assets. This acquisition was treated as an asset acquisition
under ASC 805 “Business Combinations” since RPM Interactive did not meet the definition of a business under ASC 805.
ASC 805 requires the use of the relative fair value method for asset acquisitions to allocate the purchase price, however, since only
a single internal-use software asset was acquired, the entire purchase price shall be allocated to this asset.

For the years ended December 31, 2024 and 2023,
amortization of intangible assets amounted to $0. The internal-use software has not yet been placed in service as of December 31, 2024.

NOTE 6 – OPERATING LEASE RIGHT-OF-USE
ASSETS AND OPERATING LEASE LIABILITIES

In January 2019, the Company renewed and extended the term of its lease
facility for a three-year period from January 2019 to December 2021 starting with a monthly base rent of $2,567 plus a pro rata share
of operating expenses beginning January 2019. The base rent was subject to annual increases beginning the 2nd