Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 106

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 106
---
2025 and 2024, rent expense amounted to $68,703 and $68,215,
respectively, and were included in general and administrative expenses.

On April 24, 2025, upon the execution of the amendment
agreement, the Company recorded right-of-use assets and operating lease liabilities of $244,793. The remaining lease term for the operating
lease is 44 months as of September 30, 2025 and the incremental borrowing rate is 14.0% (based on historical borrowing rates).

Right-of- use assets are summarized below:

    September 30, 2025  
    December 31, 2024 
  
    Office lease 
    $244,793  
    $198,898 
  
    Less accumulated amortization 
     (21,760) 
     (198,898)
  
    Right-of-use asset, net 
    $223,033  
    $- 

15

MYSEUM, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025 AND 2024

(Unaudited)

Operating Lease liabilities are summarized below:

    September 30, 2025  
    December 31, 2024 
  
    Office lease 
    $244,793  
    $198,898 
  
    Reduction of lease liability 
     (14,496) 
     (198,898)
  
    Total lease liability 
     230,297  
     - 
  
    Less: current portion 
     (48,732) 
     - 
  
    Long term portion of lease liability 
    $181,565  
    $- 

Minimum lease payments under the non-cancelable
operating lease on September 30, 2025 are as follows:

    For the year ended September 30: 

    2026 
    $77,964 
  
    2027 
     80,298 
  
    2028 
     82,709 
  
    2029 
    $56,096 
  
    Total 
     297,067 
  
    Less: present value discount 
     (66,770)
  
    Total operating lease liability 
    $230,297 

NOTE 7 – NOTES PAYABLE

On September 17, 2025, RPM Interactive received
$40,000