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Leases | 12 Months Ended
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Dec. 31, 2024
Leases |
Leases | 6. Leases The Company leases its office facilities under noncancelable operating lease agreements. The Company has leases for office facilities in Woodbridge, New Jersey and Schaumburg, Illinois. The operating lease agreement for the Woodbridge, New Jersey location was renewed in April 2024 for a 60-month period ending in April 2029. The Company’s operating lease liability balance was $337,304 as of December 31, 2023. During 2024, the Company renewed its office lease as discussed above and recorded an additional operating lease liability of $1,395,540. In 2024, the Company made payments of $282,861 against its operating lease liability, resulting in a lease liability of $1,449,983 as of December 31, 2024, of which the current portion of lease liability was $316,612, and a long-term lease liabilities balance of $1,133,371. The components of lease expense were as follows: Schedule of components of Lease Expenses
|  | Year Ended December 31, 2024 |  |  | December 30 to December 31, 2023 |  |  | January 1, 2023 to December 29, 2023 |
|  | Successor |  |  | Predecessor |
|  | Year Ended December 31, 2024 |  |  | December 30 to December 31, 2023 |  |  | January 1, 2023 to December 29, 2023 |
Operating lease expense |  | $ | 446,229 |  |  | $ | - |  |  | $ | 191,152 |
Supplemental information related to leases was as follows: Schedule of Supplemental Cash Flow Information
|  | Successor |
|  | As of December 31, 2024 |
Weighted average remaining lease terms (in years) |  |  | 4.05 |
Weighted average discount rate |  |  | 8 | %
Maturities of the Company’s operating lease liabilities are as follows as of December 31, 2024: Schedule of Maturities of Operating Lease Liabilities
|  | Successor |
|  | As of December 31, 2024 |
2025 |  | $ | 424,660 |
2026 |  |  | 438,374 |
2027 |  |  | 382,954 |
2028 |  |  | 359,654 |
2029 |  |  | 105,927 |
Thereafter |  |  | - |
Total |  |  | 1,711,569 |
Less: Imputed interest |  |  | (261,586 | )
Total operating lease liability |  | $ | 1,449,983 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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