Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 478

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 7A
Chunk 478
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 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

    2023

    Leasehold Improvements

    274,133

    274,133

    Machinery and Equipment

    298,974

    290,892

    Vehicles

    1,466,593

    635,172

    Total Fixed Assets

    2,039,700

    1,200,197

    Accumulated Depreciation

    (864,153
    )

    (626,083
    )
  
    Fixed Assets, Net
     
    $
    1,175,547

    $
    574,114

    F-10

NOTE 6 – OPERATING LEASES

We have leased vehicles with terms greater than
one year that are classified as operating 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 as calculated following
FASB guidelines is presented as a non-current asset on the balance sheet. As of December 31, 2024, the value is calculated to be $3,261