Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 776

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 776
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     857,668  
     1,351,415 
  
    General and administrative expenses 
     942,990  
     892,972 
  
    Impairment loss on property and equipment and intangible assets 
     -  
     43,671 
  
    Impairment loss on digital currencies and other digital assets 
     -  
     23,381 
  
    Total 
    $5,281,339  
    $8,784,703 

Compensation and related expenses

Compensation and related expenses include salaries,
stock-based compensation, health insurance and other benefits.

During the year ended December 31, 2024 and 2023,
compensation and related expenses amounted to $2,320,127 and $4,760,180, respectively, a decrease of $2,440,053, or 51.3%. The decrease
was attributable to a decrease in stock-based compensation of $1,985,961 and a decrease in other compensation and other related expenses
of $454,092 related to a reduction in staff.

Marketing and advertising expenses

During the years ended December 31, 2024 and 2023, marketing and advertising
expenses amounted to $128,656 and $388,444, respectively, a decrease of $259,788, or 67.0%, primarily due to an overall decrease in promotions,
branding and digital marketing strategies and social media ads.

Professional and consulting expenses

During the years ended December 31, 2024 and 2023, we reported professional
and consulting expenses of $1,031,898 and $1,324,640, respectively, a decrease of $292,742, or 22.1%. The decrease is attributable to
a decrease in consulting fees of $96,202, which includes a decrease in stock-based consulting fees of $144,818, offset by an increase
in other consulting fees of $48,616, a decrease in investor relations fees of $224,026, a decrease in legal fees of $27,195, and a decrease
in other professional fees of $43,970, offset by an increase in accounting fees of $98,651.

Research and development costs

During the years ended December 31, 2024 and
2023, we incurred $857,668 and $1,351,415 in research and development costs, a decrease of $493,747, or 36.