Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 524

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 8
Chunk 524
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 the owner draw accounts. The total owner draw amount was $62,825
 for December 31, 2022.

From the reverse merger transaction in December 2022, there was a immaterial difference in the number of shares outstanding per our transfer
agent VStock Transfer LLC, and the internal records maintained by AGSS. It was decided to make the reconciliation adjustment for December
31, 2024, audit year and the immaterial difference of 990 shares were added to the Common Shares total bringing the total amount of outstanding
shares to 94,981,292. Matching the transfer agent’s shareholder listing of the same date.

NOTE 12 – COMMITMENTS AND CONTINGENCIES

The company has a multiple vehicle lease agreement with Enterprise Leasing. As of December 31, 2024, the company had 59 vehicles under lease. The lease agreement includes maintenance services and tracking. The terms of the lease agreement vary based on the date the vehicle was leased and the respective terms for each vehicle. The master lease is updated annually and requires annual internal financial reports and company tax return.

NOTE 13 – CONCENTRATION OF SALES

The Company has six Federal contracts continuing into 2025, approximately 89% of our total services revenue for the year ended December
31, 2024. All federal contracts are awarded with a term of 5 years, with annual renewals. At the end of each contract year the government
has the option to renew, cancel or renegotiate. Our six contracts and their respective terms are as follows:

    ●
    Social Security Administration, NSC
     
    -
    
        September 2022 through September 2027
        Annual Revenue of approx. $6.1M  

    ●
    Social security Administration, SSC 
     
    -
    
        June 2022 through June 2027
        Annual Revenue of approx. $5.4M  

    F-15

    ●
    Social Security Administration, WBDOC
     
    -
    
        June 2021 through July 2026
        Annual Revenue of approx. $3M  

    ●
    Veterans Administration – Long Beach CA
     
    -
    Feb 2019 through March 2025 (extension expected)
                                                                                Annual Revenue of approx. $9M

    ●
    Veterans Administration – Los Angeles CA
     
    -
    
        Oct 2024 through Sep 2029
        Annual Revenue of approx. $720K