Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 113

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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, if other
assumptions had been used, stock-based compensation expense, as determined in accordance with authoritative guidance, could have been
materially impacted. Furthermore, if we use different assumptions on future grants, stock-based compensation expense could be materially
affected in future periods.

Recently Issued Accounting Pronouncements

Refer to the notes to the unaudited consolidated
financial statements.

Results of Operations

Revenue

During the three months ended March 31, 2025 and
2024, we generated minimal revenues of $83 and $131, respectively, which consisted of subscription revenues.

24 

Operating expenses

For the three months ended March 31, 2025, operating
expenses amounted to $1,660,529 as compared to $1,663,550 for the three months ended March 31, 2024, a decrease of $3,021, or 0.2%. For
the three months ended March 31, 2025 and 2024, operating expenses consisted of the following:

    Three Months Ended March 31, 

    2025  
    2024 
  
    Compensation and related expenses 
    $967,280  
    $897,664 
  
    Marketing and advertising expenses 
     38,262  
     34,717 
  
    Professional and consulting expenses 
     455,484  
     253,625 
  
    Research and development 
     6,000  
     233,918 
  
    General and administrative expenses 
     193,503  
     243,626 
  
    Total 
    $1,660,529  
    $1,663,550 

Compensation and related expenses

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

During the three months ended March 31, 2025 and
2024, compensation and related expenses amounted to $967,280 and $897,664, respectively, an increase of $69,616, or 7.8%. The increase
was attributable to an increase in executive bonus of $350,000, and an increase in stock-based compensation of $148,359 due to the issuance
of new stock options, offset by an overall decrease in compensation and other related expenses of $428,743 due to a reduction in staff.

Marketing and advertising expenses

During the three months ended March 31, 2025 and
2024, marketing and advertising expenses