Ameriguard Security Services Q1 2024 10-Q Filed

TL;DR

**AMERIGUARD SECURITY SERVICES (AGSS) FILED Q1 2024 10-Q. REVENUE AND EXPENSES DETAILED.**

AI Summary

Ameriguard Security Services, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial performance for the first quarter of 2024, comparing it to the same period in 2023. Key financial data points such as revenue, salaries, and employee benefits are presented.

Why It Matters

This filing provides investors with a quarterly update on Ameriguard Security Services' financial health and operational performance, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company, Ameriguard Security Services is subject to market fluctuations and regulatory scrutiny, making its risk level medium.

Key Numbers

• 2024 Q1 — Reporting Period (Financials for the first quarter of 2024 are detailed.)
• 2023 Q1 — Comparison Period (Financials for the first quarter of 2023 are used for comparison.)

Key Players & Entities

• AMERIGUARD SECURITY SERVICES, INC. (company) — Filer
• 0001514443 (company) — Central Index Key
• 20240331 (date) — Period of Report
• 20240522 (date) — Filing Date
• 5470 W. SPRUCE AVENUE , SUITE 102 (address) — Business Address
• FRESNO, CA (address) — Business Address City/State
• HEALTH REVENUE ASSURANCE HOLDINGS, INC. (company) — Former Company Name

FAQ

Key Financial Figures

• $3,655,695 — ntly completed second fiscal quarter is $3,655,695. The number of outstanding shares of
• $350,000 — yable from AmeriGuard was executed. The $350,000 note is amortized over 20 years, with a
• $739,508 — stallments of principal and interest of $739,508 each December 31, starting 2023. Intere
• $16,500 m — l retention. The agreement allows for a $16,500 monthly principal and interest payment st
• $22,477 — $ 525,000 ; the repayment term requires $22,477 per week for 32 weeks. As of March 31,
• $17,660 — $ 412,500 ; the repayment term requires $17,660 per week for 32 weeks. As of March 31,

Filing Documents

• ameriguardsec_10q.htm (10-Q) — 401KB
• ameriguardsec_ex21-1.htm (EX-21.1) — 3KB
• ameriguardsec_ex31-1.htm (EX-31.1) — 14KB
• ameriguardsec_ex31-2.htm (EX-31.2) — 14KB
• ameriguardsec_ex32-1.htm (EX-32.1) — 6KB
• ameriguardsec_ex32-2.htm (EX-32.2) — 6KB
• 0001829126-24-003664.txt ( ) — 2536KB
• agss-20230331.xsd (EX-101.SCH) — 32KB
• agss-20230331_cal.xml (EX-101.CAL) — 40KB
• agss-20230331_def.xml (EX-101.DEF) — 91KB
• agss-20230331_lab.xml (EX-101.LAB) — 186KB
• agss-20230331_pre.xml (EX-101.PRE) — 155KB
• ameriguardsec_10q_htm.xml (XML) — 210KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 13 Item 4.

Controls and Procedures

Controls and Procedures. 14 PART II Other Information 15 Item 1.

Legal Proceedings

Legal Proceedings 15 Item1A.

Risk Factors

Risk Factors 15 Item 6. Exhibits 17 i FORWARD-LOOKING The facts are "forward-looking statements". Forward-looking statements can be identified by the use of forward-looking terminology, such as "anticipate", "believe", "expect", "plan", "intend", "seek", "estimate", "project", "could", "may" or the negative thereof or other variations thereon, or by discussions of strategy that involve risks and uncertainties. Management wishes to caution the reader of the forward-looking statements that any such statements that are contained in this report reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, economic, competitive, regulatory, technological, key employees, and general business factors affecting our operations, markets, growth, services, products, licenses and other factors, some of which are described in this report including in "Risk Factors" in Item 1A and some of which are discussed in our other filings with the SEC. These forward-looking statements are only estimates or predictions. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of risks facing our company, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events. These risk factors should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. All written and oral forward-looking statements made in connection with this report that are attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given these uncertainties, we caution investors not to u

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) AmeriGuard Security Services, Inc. CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 Assets Current Assets Cash $ 1,451,475 $ 2,166,118 Accounts receivable, net (note 2) 1,331,385 1,583,379 Current Portion Note Receivable (note 3) 9,300 9,300 Prepaid Expenses 316,798 327,147 Deposits 60,575 61,575 Related Party Receivable (note 4) - - Total Current Assets 3,169,533 4,147,519 Other Non-Current Assets Fixed assets, net depreciation (note 5) 789,339 574,114 Note Receivable (note 3) 338,450 340,700 Operating Lease 1,005,633 1,005,633 Total Non-Current Assets 2,133,421 1,920,447 Total Assets $ 5,302,954 $ 6,067,966 Liabilities Current Liabilities Accounts payable $ 499,036 $ 449,921 Accrued Interest Due (note 9) 21,300 - Deferred Revenue (note 7) 722,327 722,327 Accrued Payroll 625,833 626,694 Payroll liability - Pension (note 8) 364,158 507,793 Current portion of notes payable (note 9) 2,338,060 2,160,347 Total Current Liabilities 4,570,714 4,467,082 Long Term Liabilities Long term portion of notes payable (note 9) 2,015,122 2,034,493 Operating Lease 1,060,015 1,060,015 Total Liabilities 7,645,851 7,561,590 Stockholders' equity Common stock, $ .001 par value, 94,917,302 shares issued and outstanding at December 31, 2023 and 2022 (Note 7) 159,846 159,846 Retained earnings/(deficit) ( 2,502,742 ) ( 1,653,470 ) Total Stockholders' Equity ( 2,342,896 ) ( 1,493,624 ) Total Liabilities and Stockholders' Equity $ 5,302,954 $ 6,067,966 See accompanying notes to financial statements 1 AmeriGuard Security Services, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ending March 31, March 31, 2024 2023 Revenue Services $ 5,855,111 $ 7,116,202 Discounts and allowances ( 4,169 ) ( 48,145 ) Other operational income 33,607 31,435 Total Revenue 5,884,549 7,099,492 Cos

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