Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 401

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 6
Chunk 401
---
 as of December 31, 2022 
    $- 
  
    Acquisition of TransportUS (October 20, 2023) 
     1,795,406 
  
    Balance as of December 31, 2023 
     1,795,406 
  
    Impairment 
     - 
  
    Balance as of December 31, 2024 
    $1,795,406 

As indicated the agreement generated a Goodwill
asset of $1,795,406
resulting from the $2,220,000 value of the shares issued for the purchase over the net book value of TransportUS, Inc. of $424,593
as of October 31, 2023. Due to the agreement’s two step issuance of the 3,000,000 AGSS shares,1,500,000 at signing and
1,500,00 at a future date, the impact on the Balance Sheet of AGSS is an increase in common stock book value and additional paid in
capital, by $1,110,000, a deferred liability of $1,110,000,
and an investment in subsidiary asset value of $424,593
along with the  Goodwill in the amount of $1,795,406,
as of October 31, 2023. The consolidated Balance Sheet presentation eliminates the investment in subsidiary asset reflected on the
Balance Sheet of AGSS.

As of December 31, 2023, the Deferred Liability
in Subsidiary increased by $30,000 due to the increase in share value as of that date. This created a loss from deferred liability of
subsidiary equal to $30,000. The result is a balance of $1,140,000 in Deferred Liability Subsidiary as of December 31, 2023.

As of December 31, 2024, the Deferred Liability in
Subsidiary decreased by $1,018,000
due to the decrease in share value as of that date. This created a gain from deferred liability of subsidiary equal to $1,018,000.
The result is a balance of $121,500
in Deferred Liability Subsidiary as of December 31, 2024.

NOTE 8 – DEFERRED REVENUE

During the first three years of operations of TransportUS Inc, Secure Transportation, Inc. (Secure), a subcontractor, advanced funds to TransportUS Inc. with the