Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 662

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 9C
Chunk 662
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 shareholder Lawrence Garcia agreed
to transfer 100,000 of his shares to the lender following payment of loan. On January 8, 2025, W.L.L Associates modified the note,
extending the payment date to February 12, 2025. Balance due on December 31, 2024, was $115,000.

The following schedule details the loans active as of December 31, 2024, and 2023:

    Schedule of the loan active

    2024

    2023

    Current Portion:

    Notes and loans payable
     
    $
    2,854,977

    $
    2,160,347

    Long term Portion:

    Notes and loans payable

    3,000,123

    2,034,493

    Total Notes Payable
     
    $
    5,855,100

    $
    4,194,840

    F-14

NOTE 11 – STOCKHOLDERS’ DEFICIT

On December 9, 2022, AGS executed a reverse merger agreement with AGSS resulting in significant adjustments to the equity section of both companies. The result of the merger was AGSS became the sole owner of AGS. Although the merger is dated December 9, 2022, for financial statement presentation purposes, we have presented the Equity Section as if the merger occurred in 2021.

The first significant impact on stockholders’ equity was the issuance of 90,000,000 AGSS shares to the shareholders of Ameriguard Security Services, Inc., in exchange for 1000 shares of AGS, adding a net increase in common shares outstanding of 89,999,000. Next was the cancelation and conversion of series 675,000 A-1 preferred shares held by AGSS on December 31, 2020. The final result in the total number of shares outstanding is 93,417,302.

On October 20, 2023, the Company executed a
purchase agreement to acquire a related company owned by Lawrence Garcia, CEO. TransportUS
Inc. valued at $3,000,000. The company agreed to issue 3,000,000 shares, with 1,500,000 shares issued at time of purchase, and a
bonus of 1,500,000 shares when TransportUS renews its main services contract with the Veterans Affairs Department of Long Beach,
CA. The purchase created