Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 15

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 may exceed a NCI’s interests in the subsidiary’s equity. The excess attributable to NCI is attributed
to those interests. NCI shall continue to be attributed their share of losses even if that attribution results in a deficit NCI balance.

The Company allocates certain corporate common
expenses to its subsidiaries based on the ratio of direct subsidiary expenses to total consolidated expenses. Management believes that
this allocation method is reasonable.

7

MYSEUM, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025 AND 2024

(Unaudited)

The Company accounts for its noncontrolling interest
in RPM Interactive in accordance with ASC Topic 810-10-45, which requires the Company to present noncontrolling interests as a separate
component of total shareholders’ equity on the consolidated balance sheets and the consolidated net loss attributable to its noncontrolling
interest be clearly identified and presented on the face of the consolidated statements of operations. Through January 10, 2024, the date
that VR Interactive purchased 8,000,000 shares of RPM Interactive from Metabizz LLC, any noncontrolling interest eliminated in consolidation.
Because this change in ownership moved from a consolidated entity (the VIE entities) to a nonconsolidated entity (VR Interactive), subsequent
to January 10, 2024 the Company ceased eliminating the noncontrolling interest in consolidation and recorded an initial negative noncontrolling
interest in total equity for the portion of equity ownership not attributable to Myseum based on the minority interest holders’
ownership interest in the carrying value of RPM Interactive’s equity. Due to the cancellation of common shares by RPM Interactive,
during the nine months ended September 30, 2025, the Company recorded aggregate initial negative noncontrolling interest of $188,810 in
total equity for the portion of additional equity ownership not attributable to the Company based on the minority interest holders’
ownership interest in the carrying value of RPM Interactive’s equity. The Company also allocated $316,235 of the net loss of the
subsidiary to noncontrolling interest during the nine months ended September 30, 2025. As a result of changes in RPM Interactive outstanding
common stock and the Company’s share of losses of subsidiary since January 2024, aggregate noncontrolling interest deficit amounted
to $2,642,834 as of September 30, 2025.

Variable interest entities

Pursuant to