Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 779

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 779
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 a purchase price of $4.25 per share of Common Stock (the “Offering”). The closing of the
sales of these securities under the Purchase Agreement took place on January 9, 2025 and we received net proceeds of $4,537,000. Net cash
used in operations was $4,388,385 for the year ended December 31, 2024. Until such time that the Company implements its growth strategy,
it expects to continue to generate operating losses in the foreseeable future, mostly due to corporate overhead, research and development,
and costs of being a public company. We believe that our existing working capital and cash on hand will provide sufficient cash to enable
the Company to meet its operating needs and debt requirements for the next twelve months from the issuance date of this report.

31

Our primary uses of cash have been for research
and development, compensation and related expenses, fees paid to third parties for professional services, marketing and advertising expenses,
and general and administrative expenses. All funds received have been expended in the furtherance of growing the business. We received
funds from the sale of our common stock, sale of common stock in our subsidiary, RPM Interactive, and the exercise of warrants. The following
trends are reasonably likely to result in changes in our liquidity over the near to long term:

    ●
    An increase in working capital requirements to finance our current
    business,

    ●
    Cost of research and development,

    ●
    Addition of administrative, technical and sales personnel as the business
    grows, and

    ●
    The cost of being a public company.

Cash Flows from Operating Activities

Net cash used in operating activities totaled
$4,388,385 and $6,529,277 for the years ended December 31, 2024 and 2023, respectively, a decrease of $2,140,892.

Net cash flow used in operating activities for the year ended December
31, 2024 primarily reflected a net loss of $5,025,007, adjusted for the add-back (reduction) of non-cash items consisting of depreciation
and amortization of $23,129, amortization of right of use assets of $73,977, accretion of stock-based stock option and common stock expense
of $123,300, a non-cash gain from deconsolidation of variable interest entities of $(107), foreign currency exchange loss of $12,965,
and non-cash research and development