Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 52

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 52
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General and administrative expenses

During the years ended December 31, 2024 and 2023, general and administrative
expenses amounted to $942,990 and $892,972, an increase of $50,018, or 5.6%. The increases are primarily attributable to an increase in
computer and internet expenses of approximately $54,000.

30

Impairment loss on property and equipment
and intangible assets

During the year ended December 31, 2023, we wrote
off the balance of property and equipment held by MetaBizz since the property and equipment was abandoned and no longer being used by
the Company as of December 31, 2023. Accordingly, we recognized an impairment loss on property and equipment of $43,671. We did not recognize
any impairment loss on property and equipment during the year ended December 31, 2024.

Impairment loss on digital currencies and
other digital assets

During the year ended December 31, 2024 and 2023,
operating expenses included an impairment charge related to the write down of digital assets of $0 and $23,381, respectively.

Loss from Operations

During the year ended December 31, 2024, loss from operation amounted
to $5,280,903 as compared to $8,784,031 during the year ended December 31, 2023, a decrease of $3,503,128, or 39.9%.

Other Income (Expense)

Other income (expenses) primarily consisted of interest income, gain
on initial consolidation of variable interest entities, a forerign curreny exchange loss, a gain on deconsolidation of variable interest
entities, and realized gains on short-term investments. During the years ended December 31, 2024 and 2023, we reported other income, net
of $255,896 and $379,061, respectively.

During the year ended December 31, 2024, other
income, net primarily consisted of interest income of $268,754, a gain on deconsolidation of variable interest entities of $107, and
a foreign currency exchange loss of $12,965. During the year ended December 31, 2023, other income, net primarily consisted of interest
income of $384,098, a gain on initial consolidation of variable interest entities of $42,737, a foreign currency exchange loss of $102,
and a realized loss on short-term investments