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Operating Leases

3 Months Ended

Mar. 31, 2025

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