Company: AGSS
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001829126-25-003800
Chunk: 10

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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meriGuard, 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 March 31, 2025, the note receivable is presented with the current portion of $12,289,
and long-term portion of $192,455.
As of December 31, 2024, the short-term portion is $12,289 and a long-term portion of $288,459.

NOTE 4 – RELATED PARTY RECEIVABLE

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 March 31, 2025, and December 31, 2024:

    Schedule of fixed assets

    2025

    2024

    Leasehold Improvements

    274,133

    274,133

    Machinery and Equipment

    301,010

    298,974

    Vehicles

    1,481,593

    1,466,593

    Total Fixed Assets

    2,056,736

    2,039,700

    Accumulated Depreciation

    (942,660
    )

    (864,153
    )
  
    Fixed Assets, Net
     
    $
    1,114,076

    $
    1,175,547

    8

NOTE 6 – OPERATING LEASES