Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 455

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 455
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 for income tax 
    $-  
    $- 

F-23

DATCHAT, INC. AND SUBSIDIARIES AND CONSOLIDATED ENTITIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024 and 2023

The Company’s approximate net deferred tax
asset on December 31, 2024 and 2023 was as follows:

    Deferred Tax Asset: 
    December 31, 2024  
    December 31, 2023 
  
    Net operating loss carryforward 
    $8,188,681  
    $6,963,393 
  
    Valuation allowance 
     (8,188,681) 
     (6,963,393)
  
    Net deferred tax asset 
    $-  
    $- 

Of the $31,494,927 of available net operating
losses, $1,403,306 begins to expire in 2034 and $30,091,621 which were generated after 2018 can be utilized indefinitely subject to annual
usage limitations.

The Company provided a valuation allowance equal to the deferred income
tax asset for the years ended December 31, 2024 and 2023 because it was not known whether future taxable income will be sufficient to
utilize the loss carryforward. The increase in the allowance was $1,225,288 and $1,597,948 in years 2024 and 2023.

Additionally, the future utilization of the net
operating loss carryforward to offset future taxable income may be subject to an annual limitation as a result of ownership changes that
could occur in the future. If necessary, the deferred tax assets will be reduced by any carryforward that expires prior to utilization
as a result of such limitations, with a corresponding reduction of the valuation allowance.

The Company does not have any uncertain tax positions
or events leading to uncertainty in a tax position. The Company’s 2021, 2022, 2023 and 2024 Corporate Income Tax Returns are subject
to Internal Revenue Service examination. 

NOTE 10 – SUBSEQUENT EVENTS

Sale of Common Shares

On January 8, 2025, the Company entered into a
securities purchase agreement (the “Purchase Agreement”) with certain institutional investors, pursuant to which the Company
agreed to sell to such investors 1,200,000 shares (the “Shares”) of