Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 26

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 maintenance which is considered a non-lease component. These non-lease component payments are expensed as incurred and
are not included in operating lease assets or liabilities. On August 27, 2021, the Company entered into an amendment agreement with
the same landlord to modify the facility lease to relocate and increase the square footage of the lease premises. The term of the lease
commenced on October 1, 2021 and expired on December 31, 2024 with a new monthly base rent of $7,156 plus a pro rata share of operating
expenses beginning January 2022. The base rent was subject to 3% annual increases beginning in the 2nd and 3rd lease
year as defined in the amended lease agreement. For the three months ended March 31, 2025 and 2024, rent expense amounted to $25,677 and
$22,738, respectively, and were included in general and administrative expenses. As of the date of this report, the Company has not renewed
the lease and is leasing on a month-to-month basis. The Company does not record ROU assets or lease liabilities for short-term leases
that have a term of twelve months or less at lease commencement, The Company can vacate the premises without any disruption and find alternative
space, if needed.

NOTE 7 – RELATED PARTY TRANSACTIONS

See Note 9 for the Employment Agreement with the
Company’s chief executive officer, Darin Myman.

During the three months ended March 31, 2025 and
2024, the wife of the Company’s chief executive officer was employed as an executive secretary and earned $18,000 and $18,000, respectively.

On January 10, 2024, VR Interactive LLC (“VR
Interactive”), a company 45% owned by Darin Myman, the Company’s CEO and 3.75% owned by Peter Shelus, the Company’s
chief technology officer and director, purchased 8,000,000 shares of RPM Interactive from the Metabizz shareholders for cash amounting
to $120,000. Mr. Myman is a partner in VR Interactive. Therefore, VR Interactive, a related party, became a 25% non-controlling interest
in RPM Interactive.

NOTE 8 – STOCKHOLDERS’ EQUITY

Shares Authorized

The authorized capital stock consists of 200,000,000
shares, of which 180,000,000 are shares of common