Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 355

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 5
Chunk 355
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 2023 since it does not believe such returns will be
material.

Net Income/(Loss) per Share

Net income/(loss) per common share is computed by
dividing net income or loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards,
ASC Topic 260, “Earnings per Share”. Basic earnings/(loss) per common share (“EPS”) calculations are determined
by dividing net income/(loss) by the weighted average number of shares of common stock outstanding during the year. Diluted earnings
per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common
share equivalents outstanding.

Fair Value of Financial Instruments

The Company applies the accounting guidance under Financial Accounting Standards Board (“FASB”) ASC 820-10, “Fair Value Measurements”, as well as certain related FASB staff positions. This guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact business and considers assumptions that marketplace participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance.

    F-9

The guidance also establishes a fair value hierarchy for measurements of fair value as follows:

    ●
    Level 1 - quoted market prices in active markets for identical assets or liabilities. 

    ●
    Level 2 - inputs other than Level 1 that 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