Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 55

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 55
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Net cash flow used in operating activities for the year ended December
31, 2023 primarily reflected a net loss of $8,404,970 adjusted for the add-back (reduction) of non-cash items consisting of depreciation
and amortization of $28,943, amortization of right of use assets of $60,549, accretion of stock-based stock option and common stock expense
of $2,254,079, a non-cash gain from initial consolidation of variable interest entities of $(42,737), impairment loss on digital assets
of $23,381, impairment of property and equipment of $43,671, and net realized gain on short-term investments of $327,145, offset by changes
in operating assets and liabilities primarily consisting of a decrease in prepaid expenses of $5,797, a decrease in accounts payable and
accrued expenses of $103,741, and a decrease in operating lease liabilities of $67,339.

Cash Flows from Investing Activities

Net cash provided by investing activities amounted
to $2,236,751 and $6,160,932 for the years ended December 31, 2024 and 2023, respectively, a decrease of $3,924,181.

During the years ended December 31, 2024, we
purchased short-term investments of $10,767,288 and received gross proceeds from the sale of short-term investments of $13,004,039.

During the years ended December 31, 2023, we
purchased short-term investments of $8,599,121 and received gross proceeds from the sale of short-term investments of $14,745,000. Additionally,
we received $64,538 in cash upon initial consolidation of variable interest entities and purchased property and equipment amounting to
$49,485.

Cash Flows from Financing Activities

Net cash provided by (used in) financing activities
totaled $2,394,971 and $(398,284) for the years ended December 31, 2024 and 2023, respectively.

During the year ended December 31, 2024, we received
$559,251 from the sale of common stock, net, received $974,198 from the sale of subsidiary common stock, net, and received $861,522 from
the sale of pre-funded warrants.

During the year ended December 31, 2023, we repaid
related party advances of $1,315, we used