Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 50

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 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 amounted to $38,262 and $34,717, respectively, an increase of $3,545, or 10.2%. The increase
was primarily due to an increase in promotions, branding and digital marketing strategies and social media ads.

Professional and consulting expenses

During the three months ended March 31, 2025 and 2024,
we reported professional and consulting expenses of $455,484 and $253,625, respectively, an increase of $201,859, or 79.6%. The increase
was primarily attributable to an increase in investor relations of $77,500, an increase in legal fees of $73,410, an increase in accounting
fees of $40,137, an increase in consulting fees – related party of $18,000, and an increase of other professional fees of $1,485,
offset by a decrease in aggregate consulting fees of $8,673, which includes a decrease in stock-based consulting fees of $52,323 and an
increase in other consulting fees of $43,650.

Research and development expenses

During the three months ended March 31, 2025 and
2024, we incurred $6,000 and $233,918 in research and development expenses, a decrease of $227,918, or 97.4%. Research and development
costs were incurred in connection with our Metaverse software development project, including the development of Habytat which is in the
preliminary stage. As of March 31, 2025, we ceased development of our Metaverse software.

25 

General and administrative expenses

During the three months ended March 31, 2025 and
2024, general and administrative expenses amounted to $193,503 and $243,626, a decrease of $50,123, or 20.6%. The decrease was primarily
attributable to a decrease in computer and internet expenses of $26,517, a decrease in proxy meeting expenses of $19,288, and a decrease
in other general and administrative