Company: AGSS
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001213900-25-091579
Chunk: 11

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-09-25
Form: 10-Q
Item: Item 1
Chunk 11
---
 leases per the guidelines. The lease terms vary between 48 and 60 months. At the end of the term the vehicle becomes the property of the Company.  The capital lease value is calculated following FASB guidelines annually and is presented as a non-current asset on the balance sheet. As of December 31, 2024, the value is calculated to be $3,261,415. There is an Operating Lease liability calculated, in the amount of $3,261,415 as of December 31, 2024. The Operating Lease liability is presented as current and long term. The current portion of the Operating Lease liability for December 31, 2024, is $924,808, and the long-term portion is $2,336,607. The non-current operating lease asset is $3,060,681 as of June 30, 2025 and the current portion of the Operating Lease Liability is $915,408, with long-term Operating Lease Liability of $2,145,274.   The discount rate is the interest rate that equates the present value of future lease payments to the Right-of-Use (ROU) asset or lease liability. The leasehold amortization was calculated using an incremental borrowing rate. The rate chosen was the 7-year risk-free Treasury rate as of January 3, 2024, set at 3.91%. This rate was applied to determine the present value of the lease payments and record the right-of-use asset and lease liability as recorded on the balance sheet. Since this calculation only impacts the Consolidated Balance Sheet, management determined that asset and liabilities would be adjusted annually unless a material change occurred in the number of leases held by the company.  

NOTE 7 – GOODWILL  As of March 31, 2025, the Company’s goodwill totaled $1,795,406, resulting from the purchase of TransportUS, Inc., in October 2023. No goodwill was acquired or disposed of during the quarter.   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