Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 289

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 289
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 effective can provide only reasonable
assurance with respect to financial statement preparation and presentation.

As of December 31, 2024, under the supervision
and with the participation of our management, including our principal executive officer and principal financial officer, we conducted
an evaluation of the effectiveness of our internal control over financial reporting based on the Committee of Sponsoring Organizations
of the Treadway Commission in Internal Control-Integrated Framework - 2013. Based on this assessment, our management concluded that,
as of December 31, 2024, our internal control over financial reporting was not effective because it identified a material weakness. A
material weakness is a significant deficiency or a combination of significant deficiencies in internal control over financial reporting
such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented
or detected on a timely basis.

33

Specifically, management concluded that the ineffectiveness
of our internal controls over financial reporting was due to the following material weaknesses:

    ●
    We lack segregation of duties within accounting functions duties as
    a result of our limited financial resources to support hiring of personnel.

    ●
    The lack of multiples levels of management review on complex business,
    accounting and financial reporting issues.

    ●
    We have not implemented adequate system and manual controls.

While we used the services of a third-party accountant
to provide accounting and financial reporting services to us, we lack both an adequate number of personnel with requisite expertise in
the key functional areas of finance and accounting and an adequate number of personnel to properly implement internal control over financial
reporting. These factors represent material weaknesses in our internal control over financial reporting. Although we believe the possibility
of errors in our financial statements is remote and expect to continue to use a third-party accountant to address shortfalls in staffing
and to assist us with accounting and financial reporting responsibilities in an effort to mitigate the lack of segregation of duties,
until such time as we expand our staff with qualified personnel, we expect to continue to report material weaknesses in our internal
control over financial reporting. 

Attestation Report
of our Registered Public Accounting Firm

This Annual Report on Form 10-K does not include
an attestation report of our registered public accounting firm regarding internal control over financial reporting. As a smaller reporting
company, our management’s report was not subject to attestation by our registered public accounting firm pursuant to rules of the
SEC that permit us to provide only management’s report in this annual