Company: MYSEW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110045
Chunk: 39

Company: Myseum, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 be reduced to 3%. In addition, the Company
agreed to provide Benchmark with customary indemnification and contribution rights. The Company will also reimburse Benchmark for certain
specified expenses in connection with entering into the Sales Agreement. The Sales Agreement contains customary representations and warranties
and conditions to the sale of the Shares pursuant thereto. The Company is not obligated to sell any of the Shares under the Sales Agreement
and may at any time suspend solicitation and offers thereunder. The offering of Shares pursuant to the Sales Agreement will terminate
on the earlier of (1) the sale, pursuant to the Sales Agreement, of Shares having an aggregate offering price of $6,000,000 and (2) the
termination of the Sales Agreement by either us or Benchmark, as permitted therein. The Shares will be issued pursuant to our shelf registration
statement on Form S-3 (File No. 333-268058) filed by the Company with the SEC on October 28, 2022 and declared
effective by the SEC on December 6, 2022. On March 27, 2025, the Company issued 750,000 shares of its common stock to Benchmark to be
held and issued to future investors pursuant to the Sales Agreement. As of September 30, 2025, no proceeds from the sale of these shares
have been received. These shares are not considered issued and outstanding for accounting purposes, Upon the receipt of proceeds from
the sale of the common shares, the Company shall record the net proceeds from the sale of such shares to additional paid-in capital. During
the nine months ended September 30, 2025, the Company paid $54,028 of offering costs related to the Sales Agreement, which has been reflected
as part of deferred offering costs on the accompanying unaudited consolidated balance sheet as of September 30, 2025 (See Note 2 –
Deferred Offering Costs). The sale Agreement is still active and the Company plans on raising capital pursuant to the Sales Agreement
in the future.

2023 Stock Repurchase Plan

On January 6, 2023, the Board of Directors of
the Company approved a stock repurchase program authorizing the purchase of up to $2 million of the Company’s common stock (the
“2023 Stock Repurchase Program”). In connection with the 2023 Stock Repurchase Program, during the year ended December 31,
2023, the Company purchased 66,945 shares of its common