DatChat(US:DATS)2025-11-13 21:34Product Development and Acquisitions - The company expanded its product offerings in March 2025 with the launch of the Myseum platform, a secure digital content management and storage solution [150]. - In October 2024, the company acquired RPM Interactive, Inc. for 3,500,000 restricted shares of common stock, shifting focus to AI-generated gaming and podcasting technologies [155]. - The company launched the Myseum social media platform, allowing users to create a digital legacy and share content securely [154]. - The Habytat platform development was ceased following the acquisition of RPM, with the company evaluating the use of the developed technology [157]. - The company changed its name to "Myseum, Inc." on August 7, 2025, with trading symbols on Nasdaq starting August 11, 2025 [158]. Financial Performance - Revenue for the three months ended September 30, 2025, was $328, compared to $62 for the same period in 2024, representing a significant increase [171]. - Operating expenses for the three months ended September 30, 2025, amounted to $1,280,929, an increase of $42,683, or 3.3%, compared to $1,238,246 in 2024 [172]. - Compensation and related expenses increased by $314,543, or 68.2%, to $775,965 for the three months ended September 30, 2025, primarily due to stock-based compensation [174]. - Marketing and advertising expenses rose by $19,953, or 58.4%, to $54,087 for the three months ended September 30, 2025, driven by increased promotions and digital marketing [176]. - Loss from operations for the three months ended September 30, 2025, was $1,280,601, an increase of $42,417, or 3.4%, compared to $1,238,184 in 2024 [182]. - Net loss attributable to common shareholders for the three months ended September 30, 2025, was $1,201,477, or ($0.28) per share, compared to $1,271,801, or ($0.42) per share in 2024, a decrease of 5.5% [185]. Cash Flow and Investments - As of September 30, 2025, the company had cash and cash equivalents of $457,626 and short-term investments of $4,346,310 [187]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $3,515,434, compared to $3,507,202 in 2024, an increase of $8,232 [189]. - Net cash used in investing activities for the nine months ended September 30, 2025, amounted to $(1,589,111), compared to $1,269,566 in 2024 [193]. - Net cash provided by financing activities increased to $4,365,472 for the nine months ended September 30, 2025, compared to $1,916,771 for the same period in 2024, representing a growth of approximately 128.5% [195]. - The company received $4,532,000 from the sale of common stock during the nine months ended September 30, 2025, compared to $559,251 in the same period of 2024, indicating a significant increase of approximately 708% [196]. Accounting and Compliance - The company has not entered into any off-balance sheet arrangements or derivative contracts that are indexed to its shares, ensuring no additional financial liabilities are present [197]. - The company intends to rely on exemptions provided under the JOBS Act, delaying compliance with certain accounting standards until they apply to private companies [200]. - The company will remain classified as an "emerging growth company" until it reaches total annual gross revenues of $1.235 billion or more, or until other specified conditions are met [200]. - The financial statements may not be comparable to those of companies that comply with public company effective dates for new or revised accounting standards due to the company's status as an emerging growth company [199]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures [201]. Shareholder and Noncontrolling Interests - As of September 30, 2025, the company holds approximately 34% of RPM Interactive's outstanding shares after returning and canceling 3,500,000 shares [156]. - The net loss attributed to noncontrolling interests in RPM Interactive was $316,235 during the nine months ended September 30, 2025, resulting in a noncontrolling interest deficit of $2,642,834 [164].