Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 117

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 117
---
6-month anniversary of the date of grant. The stock options were valued at $490,955
on the grant date using a Black-Scholes option pricing model which will be recognized as stock-based compensation expense over the vesting
period.

During the nine months ended September 30, 2025
and 2024, certain employees were terminated and accordingly, 12,750 and 18,100 unvested options were forfeited, resulting in reversals
of previously recognized stock-based compensation $19,883 and $27,031, respectively.

20

MYSEUM, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025 AND 2024

(Unaudited)

During the nine months ended September 30, 2025,
accretion of stock-based expense related to stock options amounted to $517,556 of which $509,825 was recorded in compensation and related
expenses and $7,731 was recorded in professional and consulting expenses as reflected in the unaudited consolidated statements of operations.
During the nine months ended September 30, 2024, the Company recognized total stock-based expenses related to stock options of $63,194
of which $13,430 was recorded in compensation and related expenses and $49,764 was recorded in professional and consulting expenses as
reflected in the unaudited consolidated statements of operations. As of September 30, 2025, a balance of $1,353,408 remains to be expensed
over future vesting periods related to unvested stock options issued for services to be expensed over a weighted average period of 1.64
years.

During the nine months ended September 30, 2025,
the stock options were valued at the grant date using a Black-Scholes option pricing model with the following assumptions. The simplified
method was used for the expected option term and expected volatility was based on historical volatility:

     2025 
  
    Dividend rate 
     -   
  
    Term (in years) 
     3.5 to 6 years 
  
    Volatility 
     164.0% to 189.1% 
  
    Risk—free interest rate 
     3.73% to 4.59% 

The following is a summary of the Company’s
stock option activity for the nine months ended September 30, 2025 as presented below: