Myseum.AI, Inc.
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 14, 2026
MYSE$1.26+0.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-15.
0001213900-26-057778
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-14.
0001213900-26-090015
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 75 previous paragraphs and 78 current paragraphs.
49 unchanged; 19 reworded; 7 added; 6 removed; 1 previous and 3 current paragraphs rearranged.
Tables are not compared: 10 previous and 10 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (7)
Current report
During the three months ended June 30, 2026 and 2025, general and administrative expenses amounted to $161,503 and $200,359, respectively, a decrease of $38,856, or 19.4%. The decrease was primarily attributable to a decrease in computer and internet expenses of $28,463, a decrease in travel expenses of $16,050, and a decrease in proxy meeting expenses of $10,000, offset by an increase in other general and administrative expenses of $15,657 primarily due to a decrease in the allocation of general and administrative expenses to RPM, which is included in loss from discontinued operations.
Current report
During the six months ended June 30, 2026 and 2025, general and administrative expenses amounted to $301,584 and $353,806, respectively, a decrease of $52,222, or 14.8%. The decrease was primarily attributable to a decrease in computer and internet expenses of $29,446, a decrease in travel expenses of $24,585, and a decrease in proxy meeting expenses of $20,749, offset by an increase in other general and administrative expenses of $22,558 primarily due to a decrease in the allocation of general and administrative expenses to RPM, which is included in loss from discontinued operations.
Current report
During the three months ended June 30, 2026, loss from operations amounted to $2,152,311 as compared to $1,194,161 during the three months ended June 30, 2025, an increase of $958,150, or 80.2%. During the six months ended June 30, 2026, loss from operations amounted to $3,837,781 as compared to $2,628,122 during the six months ended June 30, 2025, an increase of $1,209,659, or 46.0%. The increase was primarily a result of the changes in operating expenses discussed above.
Current report
During the three months ended June 30, 2026, loss from continuing operations amounted to $3,050,364 as compared to $1,144,522 during the three months ended June 30, 2025, an increase of $1,905,842, or 166.5%. During the six months ended June 30, 2026, loss from continuing operations amounted to $5,911,974 as compared to $2,537,147 during the six months ended June 30, 2025, an increase of $3,374,827, or 133.0%. The increase was primarily a result of the changes in operating expenses discussed above.
Current report
Due to the foregoing reasons, during the six months ended June 30, 2026 and 2025, our net loss was $5,911,974 and $2,976,299, respectively, an increase of $2,935,675, or 98.6%. During the six months ended June 30, 2026 and 2025, our net loss attributable to Myseum.AI, Inc. shareholders was $5,911,974 and $2,690,068, respectively, an increase of $3,211,906, or 119.8%.
Current report
During the six months ended June 30, 2026, cash flows provided by financing activities comprised of proceeds from sale of common stock, net of $3,208,239 offset by payments of deferred offering costs of $194,133.
Current report
During the six months ended June 30, 2025, cash flows provided by financing activities comprised of proceeds from sale of common stock, net of $4,532,000 offset by payments of deferred offering costs of $54,028.
Removed paragraphs (6)
Previous report
During the three months ended March 31, 2026 and 2025, general and administrative expenses amounted to $140,081 and $153,447, respectively, a decrease of $13,366, or 8.7%. The decrease was primarily attributable to a decrease in settlement expense of $9,719 recorded in connection with the Ambassador Settlement discussed elsewhere.
Previous report
During the three months ended March 31, 2026, loss from operations amounted to $1,685,470 as compared to $1,433,961 during the three months ended March 31, 2025, an increase of $251,509, or 17.5%.
Previous report
During the three months ended March 31, 2025, other income, net solely consisted of interest income of $41,336.
Previous report
During the three months ended March 31, 2026, loss from continuing operations amounted to $2,861,610 as compared to $1,392,625 during the three months ended March 31, 2025, an increase of $1,468,985, or 105.5%.
Previous report
During the three months ended March 31, 2026, we paid deferred offering costs of $67,590.
Previous report
During the three months ended March 31, 2025, we received $4,532,000 from the sale of common stock, net, and paid deferred offering costs of $152,500.
Reworded paragraphs (19)
Previous wording
You should read the following discussion and analysis of our financial condition and results of operations together with our unaudited consolidated financial statements and the related notes appearing elsewhere in this Quarterly Report on Form 10-Q and the audited financial statements and related notes for the year ended December 31, 2025 included in our Annual Report on Form 10-K filed with the Securities Exchange Commission, or SEC. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially from those discussed below. Factors that could cause or contribute to such differences include, but are not limited to, those identified below, and those discussed in the section titled “Risk Factors” included elsewhere in this Quarterly Report on Form 10-Q. All amounts in this report are in U.S. dollars, unless otherwise noted.
Current wording
You should read the following discussion and analysis of our financial condition and results of operations together with our unaudited consolidated financial statements and the related notes appearing elsewhere in this Quarterly Report on Form 10-Q and the audited financial statements and related notes for the year ended December 31, 2025 included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially from those discussed below. Factors that could cause or contribute to such differences include, but are not limited to, those identified below, and those discussed in the section titled “Risk Factors” included elsewhere in this Quarterly Report on Form 10-Q. All amounts in this report are in U.S. dollars, unless otherwise noted.
Previous wording
During the three months ended March 31, 2026 and 2025, we generated revenues of $73 and $83, respectively, which consisted of subscription revenues.
Current wording
During the three months ended June 30, 2026 and 2025, we generated revenues of $37 and $78, respectively. During the six months ended June 30, 2026 and 2025, we generated revenues of $110 and $161, respectively. Revenue consisted of subscription revenues.
Previous wording
For the three months ended March 31, 2026, operating expenses amounted to $1,685,543 as compared to $1,434,044 for the three months ended March 31 2025, an increase of $251,499, or 17.5%. For the three months ended March 31 2026 and 2025, operating expenses consisted of the following:
Current wording
For the three months ended June 30, 2026, operating expenses amounted to $2,152,348 as compared to $1,194,239 for the three months ended June 30, 2025, an increase of $958,109, or 80.2%. For the six months ended June 30, 2026, operating expenses amounted to $3,837,891 as compared to $2,628,283 for the six months ended June 30, 2025, an increase of $1,209,659, or 46.0%. For the three and six months ended June 30, 2026 and 2025, operating expenses consisted of the following:
Previous wording
During the three months ended March 31, 2026 and 2025, compensation and related expenses amounted to $796,541 and $916,162, respectively, a decrease of $119,621, or 13.1%. The decrease was attributable to a decrease in bonus of $350,000, offset by an increase in stock-based compensation of $70,806 due to the accretion of stock-based option expense issuance for new stock options issued in 2025, and an overall increase in compensation and other related expenses of $159,573 partially as a result of a decrease in the allocation of compensation and related expenses to RPM, which is included in loss from discontinued operations.
Current wording
During the three months ended June 30, 2026 and 2025, compensation and related expenses amounted to $1,187,674 and $660,534, respectively, an increase of $527,140, or 79.8%. The increase was attributable to an increase in bonus of $350,000, an increase in stock-based compensation of $71,250, and an overall increase in compensation and other related expenses of $105,890 partially as a result of a decrease in the allocation of compensation and related expenses to RPM, which is included in loss from discontinued operations.
Previous wording
During the three months ended March 31, 2026 and 2025, marketing and advertising expenses amounted to $231,739 and $33,837, respectively, an increase of $197,902, or 584.9%, primarily due to an overall increase in promotions, branding and digital marketing strategies and social media advertisements.
Current wording
During the three months ended June 30, 2026 and 2025, marketing and advertising expenses amounted to $131,451 and $59,121, respectively, an increase of $72,330, or 122.3%. During the six months ended June 30, 2026 and 2025, marketing and advertising expenses amounted to $363,190 and $92,958, respectively, an increase of $270,232, or 290.7%. The increases were primarily due to an overall increase in promotions, branding and digital marketing strategies and social media advertisements.
Previous wording
During the three months ended March 31, 2026 and 2025, we reported professional and consulting expenses of $517,182 and $330,598, respectively, an increase of $186,584, or 56.4%. The increase was attributable to an increase in investor relations fees of $33,028, an increase in stock-based consulting fees of $163,766, an increase in other consulting fees of $34,500, and an increase in other professional fees of $32,142, primarily due to a decrease in the allocation of professional and consulting expenses to RPM, which is included in loss from discontinued operations, offset by a decrease in decrease in legal fees of $76,852.
Current wording
During the three months ended June 30, 2026 and 2025, we reported professional and consulting expenses of $671,720 and $274,225, respectively, an increase of $397,495, or 145.0%. The increase was attributable to an increase in stock-based consulting of $367,258, an increase in other consulting fees of $118,100, and an increase in other professional fees of $29,605, primarily due to a decrease in the allocation of professional and consulting expenses to RPM, which is included in loss from discontinued operations, offset by a decrease in investor relations of $101,472 and a decrease in legal fees of $15,996.
Previous wording
During the three months ended March 31, 2026, other expense, net primarily consisted of an unrealized loss on equity securities of $1,194,000 that are primarily related to the decrease in the valuation of the fair value of the Avalon Series E Preferred Stock caused by the decrease in Avalon’s quoted common share price, offset by interest income, net of $17,860.
Current wording
During the six months ended June 30, 2026 and 2025, we reported other (expenses) income, net of $(2,074,193) and $90,975, respectively, a negative change of $2,165,168, or 2,380.0%. The negative change was primarily due to an increase in unrealized loss on equity securities of $2,104,000 that are primarily related to the decrease in the valuation of the fair value of the Avalon Series E Preferred Stock caused by the decrease in Avalon’s quoted common share price, and a decrease in interest income, net of $61,168.
Previous wording
For the three months ended March 31, 2026, loss from discontinued operations amounted to $0 as compared to a loss from discontinued operations of $226,485 for the three months ended March 31 2025, a decrease of $226,485, or 100.0%. The following table summarizes the results of the discontinued operations for the three months ended March 31, 2026 and 2025:
Current wording
For the three and six months ended June 30, 2026, there were no loss from discontinued operations. For the three and six months ended June 30, 2025, loss from discontinued operations amounted to $212,667 and $439,152, respectively. The following table summarizes the results of the discontinued operations for the three and six months ended June 30, 2026 and 2025:
Previous wording
Due to the foregoing reasons, during the three months ended March 31, 2026 and 2025, our net loss was $2,861,610 and $1,619,110, respectively, an increase of $1,242,500, or 76.7%. During the three months ended March 31, 2026 and 2025, our net loss attributable to Myseum.AI, Inc. shareholders was $2,861,610 and $1,473,196, respectively, an increase of $1,388,414, or 94.2%.
Current wording
Due to the foregoing reasons, during the three months ended June 30, 2026 and 2025, our net loss was $3,050,364 and $1,357,189, respectively, an increase of $1,693,175, or 124.8%. During the three months ended June 30, 2026 and 2025, our net loss attributable to Myseum.AI, Inc. shareholders was $3,050,364 and $1,216,872, respectively, an increase of $1,833,492, or 150.7%.
Previous wording
During the three months ended March 31, 2026, our total basic and diluted net loss per common share attributable to Myseum.AI, Inc. shareholders was $(0.67). During the three months ended March 31, 2025, our total basic and diluted net loss per common share attributable to Myseum.AI, Inc. shareholders was $(0.36).
Current wording
During the three and six months ended June 30, 2026, our total basic and diluted net loss per common share attributable to Myseum.AI, Inc. shareholders was $0.61 and $1.28, respectively. During the three and six months ended June 30, 2025, our total basic and diluted net loss per common share attributable to Myseum.AI, Inc. shareholders was $0.29 and $0.65, respectively.
Previous wording
Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. On March 31, 2026, we had a cash balance of $777,159, short-term investments of $1,591,377, and working capital of $1,935,521. Short-term investments include U.S. Treasury zero coupon bills that are all highly rated and have initial maturities between one and five months. During the three months ended March 31, 2026, we incurred a net loss of $2,861,610 and used net cash in operations of $1,251,131. Additionally, the Company had nominal revenues in 2026.
Current wording
Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. On June 30, 2026, we had a cash balance of $1,874,149, short-term investments of $2,056,196, and working capital of $3,373,096. Short-term investments include U.S. Treasury bills that are all highly rated and have initial maturities between one and four months. During the six months ended June 30, 2026, we incurred a net loss of $5,911,974 and used net cash in operations of $2,762,657. Additionally, we had nominal revenues in 2026.
Previous wording
Our primary uses of cash has 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 the business. We received funds from the sale of our common stock, sale of common stock of RPM, and the exercise of warrants. The following trends are reasonably likely to result in changes in our liquidity over the near to long term:
Current wording
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 the business. We received funds from the sale of our common stock, sale of common stock of RPM, and the exercise of warrants. The following trends are reasonably likely to result in changes in our liquidity over the near to long term:
Previous wording
Net cash used in operating activities totaled $1,251,131 and $1,190,485 for the three months ended March 31, 2026 and 2025, respectively, an increase of $60,646.
Current wording
Net cash used in operating activities totaled $2,762,657 and $2,482,210 for the six months ended June 30, 2026 and 2025, respectively, an increase of $280,447.
Previous wording
Net cash flow used in operating activities for the three months ended March 31, 2026 primarily reflected a net loss of $2,861,610 adjusted for the add-back of non-cash items consisting of depreciation and amortization of $4,264, amortization of right of use assets of $12,231, accretion of stock-based stock option, compensatory warrants, and common stock expense of $389,627, reversal of short-term investment interest income discount of $43,692, and an unrealized loss on equity securities of $1,194,000, offset by changes in operating assets and liabilities primarily consisting of an increase in prepaid expenses of $19,608, a decrease in accounts payable and accrued expenses of $2,000, a decrease in contract liabilities of $4, and a decrease in operating lease liabilities of $11,723.
Current wording
Net cash flow used in operating activities for the six months ended June 30, 2026 primarily reflected a net loss of $5,911,974 adjusted for the add-back of non-cash items consisting of depreciation and amortization of $8,528, amortization of right of use assets of $24,879, accretion of stock-based stock option, compensatory warrants, and common stock expense of $986,747, changes in accrued interest income of $52,043, and an unrealized loss on equity securities of $2,104,000, offset by changes in operating assets and liabilities primarily consisting of a decrease in accounts receivable of $31, a decrease in prepaid expenses of $149,158, a decrease in accounts payable and accrued expenses of $151,813, a decrease in contract liabilities of $10, and a decrease in operating lease liabilities of $24,246.
Previous wording
Net cash flow used in operating activities for the three months ended March 31, 2025 primarily reflected a net loss of $1,619,110 adjusted for the add-back of non-cash items consisting of depreciation and amortization of $5,541, and accretion of stock-based stock option and common stock expense of $155,054, offset by changes in operating assets and liabilities primarily consisting of an increase in accounts receivable of $40, an increase in prepaid expenses of $21,934, a decrease in assets of discontinued operations of $220,879, a decrease in accounts payable and accrued expenses of $4,361, an increase in contract liabilities of $33, and an increase in liabilities of discontinued operations of $73,453.
Current wording
Net cash flow used in operating activities for the six months ended June 30, 2025 primarily reflected a net loss of $2,976,299 adjusted for the add-back of non-cash items consisting of depreciation and amortization of $11,209, amortization of right of use assets of $10,318, and accretion of stock-based stock option and common stock expense of $313,666, offset by changes in operating assets and liabilities primarily consisting of an increase in accounts receivable of $13, a decrease in prepaid expenses of $55,128, a decrease in assets of discontinued operations of $139,898, a decrease in accounts payable and accrued expenses of $132,181, an increase in contract liabilities of $17, a decrease in operating lease liabilities of $3,562, and an increase in liabilities of discontinued operations of $99,609.
Previous wording
Net cash provided (used in) by investing activities amounted to $1,346,840 and $(2,905,332) for the three months ended March 31, 2026 and 2025, respectively, a negative change of $4,447,090.
Current wording
Net cash provided by (used in) investing activities amounted to $873,670 and $(2,358,664) for the six months ended June 30, 2026 and 2025, respectively, a positive change of $3,232,334.
Previous wording
During the three months ended March 31, 2026, cash flows provided by investing activities comprised of gross proceeds from the sale of short-term investments of $2,437,334, offset by purchases of short-term investments of $1,090,494.
Current wording
During the six months ended June 30, 2026, cash flows provided by investing activities comprised of gross proceeds from the sale of short-term investments of $4,017,475, offset by purchases of short-term investments of $3,143,805.
Previous wording
During the three months ended March 31, 2025, we purchased short-term investments of $4,314,310 and received gross proceeds from the sale of short-term investments of $1,481,603. Additionally, we capitalized internal-use software of $72,625.
Current wording
During the six months ended June 30, 2025, we purchased short-term investments of $5,317,735 and received gross proceeds from the sale of short-term investments of $2,963,546. Additionally, we purchased property and equipment of $4,475.
Previous wording
Net cash used in financing activities totaled $67,590 for the three months ended March 31, 2026 as compared to net cash provided by financing activities of $4,379,500 for the three months ended March 31, 2025, a decrease of $4,447,090.
Current wording
Net cash provided by financing activities totaled $3,014,106 for the six months ended June 30, 2026 as compared to net cash provided by financing activities of $4,477,972 for the six months ended June 30, 2025, a decrease of $1,463,866.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
During the six months ended June 30, 2026 and 2025, compensation and related expenses amounted to $1,984,215 and $1,576,696, respectively, an increase of $407,519, or 25.8%. The increase was attributable to an increase in stock-based compensation of $142,056, and an overall increase in compensation and other related expenses of $265,463 partially as a result of a decrease in the allocation of compensation and related expenses to RPM, which is included in loss from discontinued operations.
Current report — wording carried from elsewhere
During the six months ended June 30, 2026 and 2025, we reported professional and consulting expenses of $1,188,902 and $604,823, respectively, an increase of $584,079, or 96.6%. The increase was attributable to an increase in stock-based consulting fees of $531,024, an increase in other consulting fees of $152,600, and an increase in other professional fees of $61,477, primarily due to a decrease in the allocation of professional and consulting expenses to RPM, which is included in loss from discontinued operations, offset by a decrease in legal fees of $92,848 and a decrease in investor relations of $68,444.
Current report — wording carried from elsewhere
Other income (expenses) primarily consisted of interest income and an unrealized loss on equity securities. During the three months ended June 30, 2026 and 2025, we reported other (expenses) income, net of $(898,053) and $49,639, respectively, a negative change of $947,692, or 1,909.2%. The negative change was primarily due to an increase in unrealized loss on equity securities of $910,000 that are primarily related to the decrease in the valuation of the fair value of the Avalon Series E Preferred Stock caused by the decrease in Avalon’s quoted common share price, and a decrease in interest income, net of $37,692.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Other income (expenses) primarily consisted of interest income and an unrealized loss on equity securities. During the three months ended March 31, 2026 and 2025, we reported other (expenses) income, net of $(1,176,140) and $41,336, respectively, a negative change of $1,217,476, or 2,945%.