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Operating Leases | 3 Months Ended
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Mar. 31, 2025
Operating Leases [Abstract] |
OPERATING LEASES | NOTE 10 – OPERATING LEASES On November 13, 2024, eVance, Inc. (“eVance”) entered into a Lease Agreement (the “Lease”) with Royal Centre Holdings LLC (the “Lessor”) relating to approximately 1,740 square feet of property located at 11475 Great Oaks Way, Alpharetta, Georgia. The term of the Lease is for thirty-nine (39) months commencing December 1, 2024. The monthly base rent was $4,023.75 for the first twelve (12) months, beginning in April 2025, increasing each year thereafter. The total rent for the entire lease term is $162,435. Lease expense for the three months ended March 31, 2025 and 2024, was $2,907 and $22,072, respectively. The Company has multiple short term rental arrangements that are not captured under ASC 842. Those payments are expensed as incurred and included in the total lease expense for each year.
|  | Balance Sheet Classification |  | March 31, 2025 |
Asset |  |  |  |  |
Operating lease asset |  | Right of use asset |  | $ | 139,795 |
Total lease asset |  |  |  | $ | 139,795 |
Liability |  |  |  |  |  |
Operating lease liability – current portion |  | Current operating lease liability |  | $ | 46,491 |
Operating lease liability – noncurrent portion |  | Long-term operating lease liability |  |  | 93,869 |
Total lease liability |  |  |  | $ | 140,360 |
Lease obligations at March 31, 2025 consisted of the following:
For the year ended December 31: |  |  |
2025 |  | $ | 36,334 |
2026 |  |  | 49,858 |
2027 |  |  | 51,354 |
2028 |  |  | 20,863 |
Total payments |  | $ | 158,409 |
Amount representing interest |  | $ | (18,049 | )
Lease obligation, net |  |  | 140,360 |
Less current portion |  |  | (46,491 | )
Lease obligation – long term |  | $ | 93,869 |

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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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