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

Company: Myseum, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
---
 present noncontrolling interests as a separate
component of total shareholders’ equity on the consolidated balance sheets and the consolidated net loss attributable to its noncontrolling
interest be clearly identified and presented on the face of the consolidated statements of operations. Through January 10, 2024, the date
that VR Interactive purchased 8,000,000 shares of RPM Interactive from Metabizz LLC, any noncontrolling interest eliminated in consolidation.
Because this change in ownership moved from a consolidated entity (the VIE entities) to a nonconsolidated entity (VR Interactive), subsequent
to January 10, 2024 the Company ceased eliminating the noncontrolling interest in consolidation and recorded an initial negative noncontrolling
interest in total equity for the portion of equity ownership not attributable to Myseum based on the minority interest holders’
ownership interest in the carrying value of RPM Interactive’s equity. Due to the cancellation of common shares by RPM Interactive,
during the six months ended June 30, 2025, the Company recorded aggregate initial negative noncontrolling interest of $181,530 in total
equity for the portion of additional equity ownership not attributable to the Company based on the minority interest holders’ ownership
interest in the carrying value of RPM Interactive’s equity. The Company also allocated $286,231 of the net loss of the subsidiary
to noncontrolling interest during the six months ended June 30, 2025. As a result of changes in RPM Interactive outstanding common stock
and the Company’s share of losses of subsidiary since January 2024, aggregate noncontrolling interest deficit amounted to $2,605,550
as of June 30, 2025.

7

MYSEUM, INC. AND SUBSIDIARIES

(FORMERLY DATCHAT, INC.)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2025 AND 2024

(Unaudited)

Variable interest entities

Pursuant to ASC 810-10-25-22, an entity
is defined as a VIE if it either lacks sufficient equity to finance its activities without additional subordinated financial support,
or it is structured such that the holders of the voting rights do not substantively participate in the gains and losses of the entity.
When determining whether an entity that meets the definition of a business qualifies for a scope exception from applying VIE guidance,
the Company considers whether: (i) it has participated significantly in the design of the entity, (