Company: AGSS
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001829126-25-003800
Chunk: 12

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 value and additional
paid in capital, by $1,110,000, a deferred liability of $1,110,000, and an investment in subsidiary asset value of $424,593 along with
the Goodwill in the amount of $1,795,406, as of October 31, 2023. The consolidated Balance Sheet presentation eliminates the investment
in subsidiary asset reflected on the Balance Sheet of AGSS

As of December 31, 2024, the Deferred Liability
in Subsidiary decreased by $1,018,000 due to the decrease in share value as of that date. This created a gain from deferred liability
of subsidiary equal to $1,018,000. The result is a balance of $121,500 in Deferred Liability Subsidiary as of December 31, 2024.

As March 31, 2025, the Deferred Liability in Subsidiary
was increase by $133,500 to a balance of $255,000, due to the increase in market value of AGSS shares from $.08 at December 31, 2024 to
$.17 at March 31, 2025.

The Company reviewed events and circumstances during the quarter and
concluded there were no indicators of impairment as defined in ASC 350-20-35. Therefore, no interim impairment testing was performed.

Goodwill is reviewed annually for impairment as of October 1, or more
frequently if triggering events occur.

NOTE 8 – DEFERRED REVENUE

During the first three years of operations of TransportUS
Inc, Secure Transportation, Inc. (Secure), a subcontractor, advanced funds to TransportUS Inc. with the expectation of future services
provided for Secure. This arrangement ended, December 31, 2021, after Secure had advanced $1,087,327.
The agreement moving forward required TransportUS to provide services in the amount of $15,000
per month or return funds to Secure in that same amount. Since January 2022, TransportUS has returned funds in the amount
of $415,000,
leaving a balance of $657,327
as of December 31, 2024. There were no additional payments made during the 1st Quarter 2025. Leaving a balance
of $657,327
 on March 31, 2025.

    9

NOTE 9 – PAYROLL LIABILITY – PENSION

The company offers various pension plans to employee groups based