Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 18

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 16,956 
  
    Deferred offering costs 
     152,500  
     - 
  
    Intangible assets, net 
     1,231,626  
     1,050,000 
  
    Total assets 
    $1,408,402  
    $1,496,670 

    Notes payable 
    $40,000  
    $- 
  
    Due to Myseum (eliminates in consolidation) 
     5,224,288  
     4,990,706 
  
    Accounts payable and accrued expenses 
     149,622  
     26,845 
  
    Total liabilities 
    $5,413,910  
    $5,017,551 

Liquidity

The accompanying unaudited consolidated financial
statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and
commitments in the ordinary course of business. As of September 30, 2025, the Company had cash and cash equivalents of $457,626, short-term
investments of $4,346,610 and working capital of $4,193,316. Short-term investments include U.S. Treasury zero coupon bills that are all
highly rated and have initial maturities between two and eight months. On January 8, 2025, the Company entered into a securities purchase
agreement (the “Purchase Agreement”) with certain institutional investors pursuant to which the Company agreed to sell to
such investors 1,200,000 shares of common stock of the Company at a purchase price of $4.25 per share of Common Stock (the “Offering”).
The closing of the sales of these securities under the Purchase Agreement took place on January 9, 2025 and the Company received net proceeds
of $4,532,000 (See Note 9). Net cash used in operations was $3,515,434 for the nine months ended September 30, 2025. Until such time that
the Company implements its growth strategy, it expects to continue to generate operating losses in the foreseeable future, mostly due
to corporate overhead, research and development, and costs of being a public company. The Company believes that its existing working capital
and cash on hand will provide sufficient cash to enable the Company to meet its operating needs and debt requirements for the next twelve
months from the issuance date of this report.

Use of estimates