Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 550

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 9
Chunk 550
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 are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. 

    ●
    
        Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.  

The carrying amount of the Company’s financial instruments approximates their fair value as of December 31, 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.