XML 28 R16.htm IDEA: XBRL DOCUMENT v3.25.3
Operating Leases
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 2025 and 2024, was $53,061 and $57,051, respectively. Lease expense for the three months ended September 30, 2025 and 2024, was $19,653 and $5,950, 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  September 30,
2025		 
Asset       
Operating lease asset  Right of use asset  $108,517 
Total lease asset     $108,517 
         
Liability        
Operating lease liability – current portion  Current operating lease liability  $44,940 
Operating lease liability – noncurrent portion  Long-term operating lease liability   63,057 
Total lease liability     $107,997 

Lease obligations at September 30, 2025 consisted of the following:

 

For the year ended December 31:    
2025  $12,192 
2026   49,858 
2027   51,354 
2028   8,793 
Total payments  $122,197 
Amount representing interest  $(14,200)
Lease obligation, net   107,997 
Less current portion   (44,940)
Lease obligation – long term  $63,057