Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 398

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 6
Chunk 398
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 2023, and December 31, 2024, due to the short-term nature of these instruments.

NOTE
                                                                                                                                                         3 – RELATED PARTY NOTE RECEIVABLE

On December 31, 2022, TransportUS held a
receivable from a related company, AmeriGuard Security Systems, Inc (AmeriGuard) in the amount of $350,000.
The relationship with AmeriGuard relates to the contract the Company holds with the Veteran’s Administration in Long Beach,
California. The contract required this relationship with AmeriGuard, at the time of the award. Funds from the contract were shared
with AmeriGuard during the first 3.5
years of operations, which ended April 2022. As of December 31, 2022, the receivable was adjusted to $350,000
and a note payable from AmeriGuard was executed. The $350,000 note is amortized over 20
years, with a balloon payment December 31, 2032. The interest rate is 6%,
with the monthly payment of $2,500.
For 2023, the payments were interest only in the amount of $1,750.
The note receivable is presented with the current portion of $12,289 and long-term portion of $288,459 for the year ending December
31, 2024, and the current portion of $9,300
and long-term portion of $340,700
for the year ending December 31, 2023.

NOTE 4 – RELATED PARTY TRANSACTION

On July 7, 2021, AGS entered into an agreement to purchase 100% of the Preferred A-1 Stock of Health Revenue Assurance Holdings, Inc. a SEC registered company for $500,000. In March 2022, Health Revenue Assurance Holdings, Inc. name was changed to Ameriguard Security Services Inc. (AGSS). On December 9, 2022, we signed the definitive merger agreement initiating a reverse merger with AGSS, resulting in AGS becoming a 100% owned subsidiary of AGSS. Prior to the merger, AGS funded the operational expenses of AGSS and treated these expenses as related party expenses. These expenses were eliminated when the two companies were consolidated for the financial statement presentation.

NOTE 5 – FIXED ASSETS

Fixed assets consist of the following on December 31, 2024, and 2023:

    Schedule of fixed assets

    2024