Company: MYSEW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076607
Chunk: 100

Company: Myseum, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 as incurred
and are not included in operating lease assets or liabilities. For the six months ended June 30, 2025 and 2024, rent expense amounted
to $48,023 and $45,447, respectively, and were included in general and administrative expenses.

On April 24, 2025, upon the execution of the amendment
agreement, the Company recorded right-of-use assets and operating lease liabilities of $244,793. The remaining lease term for the operating
lease is 47 months as of June 30, 2025 and the incremental borrowing rate is 14.0% (based on historical borrowing rates).

Right-of- use assets are summarized below:

    June 30, 2025  
    December 31, 2024 
  
    Office lease 
    $244,793  
    $198,898 
  
    Less accumulated amortization 
     (10,318) 
     (198,898)
  
    Right-of-use asset, net 
    $234,475  
    $- 

Operating Lease liabilities are summarized below:

    June 30, 2025  
    December 31, 2024 
  
    Office lease 
    $244,793  
    $198,898 
  
    Reduction of lease liability 
     (3,562) 
     (198,898)
  
    Total lease liability 
     241,231  
     - 
  
    Less: current portion 
     46,502  
     - 
  
    Long term portion of lease liability 
    $194,729  
    $- 

Minimum lease payments under the non-cancelable
operating lease on June 30, 2025 are as follows:

    For the year ended June 30: 

    2025 
     38,502 
  
    2026 
     78,540 
  
    2027 
     80,892 
  
    2028 
     83,324 
  
    2029 
    $35,060 
  
    Total 
     316,318 
  
    Less: present value discount 
     (75,087)
  
    Total operating lease liability 
    $241,231 

15

MYSEUM, INC. AND SUBSIDIARIES

(FORMERLY DATCHAT, INC.)

NOTES TO CONSOLIDATED FINANCIAL STATE