Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 485

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 485
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 the business. We received
funds from the sale of our common stock, sale of common stock in our subsidiary, RPM Interactive, and the exercise of warrants. The following
trends are reasonably likely to result in changes in our liquidity over the near to long term:

    ●
    An increase in working capital requirements to finance our current
    business,

    ●
    Cost of research and development,

    ●
    Addition of administrative, technical and sales personnel as the business
    grows, and

    ●
    The cost of being a public company.

Cash Flows from Operating Activities

Net cash used in operating activities totaled
$4,388,385 and $6,529,277 for the years ended December 31, 2024 and 2023, respectively, a decrease of $2,140,892.

Net cash flow used in operating activities for the year ended December
31, 2024 primarily reflected a net loss of $5,025,007, adjusted for the add-back (reduction) of non-cash items consisting of depreciation
and amortization of $23,129, amortization of right of use assets of $73,977, accretion of stock-based stock option and common stock expense
of $123,300, a non-cash gain from deconsolidation of variable interest entities of $(107), foreign currency exchange loss of $12,965,
and non-cash research and development expense of $166,667, offset by changes in operating assets and liabilities primarily consisting
of an increase in prepaid expenses of $9,649, an increase in accounts payable and accrued expenses of $307,568, and a decrease in operating
lease liabilities of $83,674.

Net cash flow used in operating activities for the year ended December
31, 2023 primarily reflected a net loss of $8,404,970 adjusted for the add-back (reduction) of non-cash items consisting of depreciation
and amortization of $28,943, amortization of right of use assets of $60,549, accretion of stock-based stock option and common stock expense
of $2,254,079, a non-cash gain from initial consolidation of variable interest entities of $(42,737), impairment loss on digital assets
of $23,381, impairment of property and equipment of $43,671, and net realized gain on short-term investments of $327,145, offset by changes
in operating assets and liabilities primarily consisting