Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 89

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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, whichever is more clearly evident, and thus, more reliably
measurable. RPM Interactive used the market price of the 3,500,000 common shares issued of $1,050,000 as the fair value of the assets
acquired since this value was more clearly evident, and thus, more reliable measurable than the fair value of the assets. This acquisition
was treated as an asset acquisition under ASC 805 “Business Combinations” since RPM Interactive did not meet the definition
of a business under ASC 805. ASC 805 requires the use of the relative fair value method for asset acquisitions to allocate the purchase
price, however, since only a single internal-use software asset was acquired, the entire purchase price shall be allocated to this asset.

During the three months ending March 31, 2025,
the Company capitalized certain software development costs incurred amounting to $72,625 since the Company’s software development
projects were in the application development stage.

For the three months ended March 31, 2025 and
2024, amortization of intangible assets amounted to $0. The internal-use software has not yet been placed in service as of March
31, 2025.

13 

DATCHAT, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2025 AND 2024

(Unaudited)

NOTE 6 – OPERATING LEASE RIGHT-OF-USE
ASSETS AND OPERATING LEASE LIABILITIES

In January 2019, the Company renewed and extended
the term of its lease facility for another three-year period from January 2019 to December 2021 starting with a monthly base rent of $2,567
plus a pro rata share of operating expenses beginning January 2019. The base rent was subject to annual increases beginning the 2nd
and 3rd lease year as defined in the lease agreement. In addition to the monthly base rent, the Company is charged separately
for common area maintenance which is considered a non-lease component. These non-lease component payments are expensed as incurred and
are not included in operating lease assets or liabilities. On August 27, 2021, the Company entered into an amendment agreement with
the same landlord to modify the facility lease to relocate and increase the square footage of the lease premises. The term of the lease
commenced on October 1, 2021 and expired on December