Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 484

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 484
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1.43)
per common share (basic and diluted) and $8,404,970, or $(4.14) per common share (basic and diluted), respectively, a decrease of $4,165,810,
or 49.6%.

Liquidity, Capital Resources and Plan of Operations 

As of December 31, 2024, we had cash and cash
equivalents of $1,196,699 and short-term investments of $2,952,512. Short-term investments include U.S. Treasury bills that are all highly
rated and have initial maturities between four and twelve months.

The accompanying 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 December 31, 2024, we had cash and cash equivalents of $1,196,699, short-term investments of $2,952,512, and working
capital of $3,657,711. Short-term investments include U.S. Treasury zero coupon bills that are all highly rated and have initial maturities
between four and twelve months. Additionally, 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 we received net proceeds of $4,537,000. Net cash
used in operations was $4,388,385 for the year ended December 31, 2024. 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. We believe that our 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.

31

Our primary uses of cash have been for research
and development, compensation and related expenses, fees paid to third parties for professional services, marketing and advertising expenses,
and general and administrative expenses. All funds received have been expended in the furtherance of growing