Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 96

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 with entering into the Sales Agreement. The Sales Agreement contains customary representations and warranties and conditions
to the sale of the Shares pursuant thereto. The Company is not obligated to sell any of the Shares under the Sales Agreement and may at
any time suspend solicitation and offers thereunder. The offering of Shares pursuant to the Sales Agreement will terminate on the earlier
of (1) the sale, pursuant to the Sales Agreement, of Shares having an aggregate offering price of $6,000,000 and (2) the termination
of the Sales Agreement by either us or Benchmark, as permitted therein. The Shares will be issued pursuant to our shelf registration statement
on Form S-3 (File No. 333-268058) filed by the Company with the SEC on October 28, 2022 and declared effective
by the SEC on December 6, 2022. On March 27, 2025, the Company issued 750,000 shares of its common stock to Benchmark to be held and issued
to future investors pursuant to the Sales Agreement. As of March 31, 2025, no proceeds from the sale of these shares have been received..
These shares are not considered issued and outstanding for accounting purposes, Upon the receipt of proceeds from the sale of the common
shares, the Company shall record the net proceeds from the sale of such shares to additional paid-in capital. As of March 31, 2025, the
Company paid $50,000 of offering costs related to the Sales Agreement, which has been reflected as part of deferred offering costs on
the accompanying unaudited consolidated balance sheet as of March 31, 2025 (See Note 2 – Deferred Offering Costs).

2023 Stock Repurchase Plan

On January 6, 2023, the Board of Directors of
the Company approved a stock repurchase program authorizing the purchase of up to $2 million of the Company’s common stock (the
“2023 Stock Repurchase Program”). In connection with the 2023 Stock Repurchase Program, during the year ended December 31,
2023, the Company purchased 66,945 shares of its common stock for $397,969, or at an average price of $5.94 per share, which has been
reflected as treasury stock on the accompanying consolidated balance sheet on March 31, 2025 and December 31, 2024. During the three months
ended March 31, 2025 and