Company: MYSEW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076607
Chunk: 52

Company: Myseum, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 nominal equity
investment at risk, and the Company absorbed or received a majority of the entity’s expected losses or benefits. The Company participated
significantly in the design of Metabizz. The Company provided working capital advances to Metabizz to allow Metabizz to fund its day-to-day
obligations. Substantially all of the activities of Metabizz were conducted for the Company’s benefit, as evidenced by the fact
that the operations of Metabizz consisted of development of software and technologies to be used by RPM Interactive and the Company provided
working capital to Metabizz to pay employees and independent contractors to perform the development services on behalf of the Company.
Repayment of the working capital advances is not guaranteed by the equity owner of Metabizz and creditors of Metabizz do not have recourse
against the Company. Accordingly, the Company was required to consolidate the assets, liabilities, revenues and expenses of Metabizz using
the fair value method. Additionally, the managing partner of Metabizz was also the Chief Innovation Officer of RPM Interactive. Since
Metabizz, LLC and Metabizz SAS were considered VIE’s, any noncontrolling interest eliminated in consolidation. In connection with
the initial consolidation of Metabizz, on February 14, 2023 (the initial consolidation date), the Company recorded a gain on initial consolidation
of variable interest entities of $42,737.

On March 31, 2024, based on the Company’s
analysis, the Company deconsolidated Metabizz, LLC and Metabizz SAS. During the three months ended March 31, 2024, the Company ceased
doing business with Metabizz, LLC and Metabizz SAS and will pay technology professionals directly. In connection with the deconsolidation
of Metabizz, LLC and Metabizz SAS, during the six months ended June 30, 2024, the Company recorded a gain on deconsolidation of $107.

On August 27, 2024, the Company entered into an
Asset Purchase Agreement with the Seller, pursuant to which it acquired from Seller the Assets (See Note 1) in consideration for the transfer
by the Company of 8,000,000 restricted shares of common stock of RPM Interactive. Accordingly, as of September 30, 2024, the Company owned
45.5% of RPM Interactive. On August 27, 2024, based on the Company’s analysis, the Company determined