Ameriguard Security Services Files Q2 2024 10-Q

TL;DR

AMERIGUARD SECURES Q2 2024 RESULTS IN NEW 10-Q FILING.

AI Summary

Ameriguard Security Services, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and business activities are presented, reflecting the company's status in the security services sector.

Why It Matters

This filing provides investors and stakeholders with a crucial update on Ameriguard's financial health and operational performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal both positive and negative trends, requiring careful analysis to assess risk.

Key Players & Entities

• AMERIGUARD SECURITY SERVICES, INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240815 (date) — Filing date
• 559-271-5984 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $1,629,646 — ntly completed second fiscal quarter is $1,629,646. The number of outstanding shares of t
• $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 3

Filing Documents

• ameriguardsec_10q.htm (10-Q) — 530KB
• 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
• 0001829126-24-005540.txt ( ) — 2673KB
• agss-20240630.xsd (EX-101.SCH) — 33KB
• agss-20240630_cal.xml (EX-101.CAL) — 40KB
• agss-20240630_def.xml (EX-101.DEF) — 91KB
• agss-20240630_lab.xml (EX-101.LAB) — 187KB
• agss-20240630_pre.xml (EX-101.PRE) — 155KB
• ameriguardsec_10q_htm.xml (XML) — 213KB

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets - June 30, 2024 1 Condensed Consolidated Statements of Income – for the Six Months ended June 30, 2024 2 Condensed Consolidated Statements of Stockholders Equity for the six months ended June 30, 2024 3 Condensed Consolidated Statements of Cash Flows – for the six months ended June 30, 2024 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 12 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 15 Item 4.

Controls and Procedures

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

Legal Proceedings

Legal Proceedings 16 Item1A.

Risk Factors

Risk Factors 16 Item 6. Exhibits 18 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS The statements contained in this report with respect to our financial condition, results of operations and business that are not historical 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 unduly rely on our forward-looking statements. We d

– Financial

PART I – Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) AmeriGuard Security Services, Inc. CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 Assets Current Assets Cash $ 579,159 $ 2,166,118 Accounts receivable, net (note 2) 1,824,732 1,583,379 Current Portion Note Receivable (note 3) 9,300 9,300 Prepaid Expenses 378,108 327,147 Deposits 55,874 61,575 Related Party Receivable (note 4) - - Total Current Assets 2,847,173 4,147,519 Other Non-Current Assets Fixed assets, net depreciation (note 5) 795,497 574,114 Note Receivable (note 3) 336,200 340,700 Operating Lease 1,005,633 1,005,633 Total Non-Current Assets 2,137,330 1,920,447 Total Assets $ 4,984,503 $ 6,067,966 Liabilities Current Liabilities Accounts payable $ 315,242 $ 449,921 Accrued Interest Due (note 9) 42,600 - Deferred Revenue (note 7) 672,327 722,327 Accrued Payroll 630,134 626,694 Payroll liability - Pension (note 8) 451,804 507,793 Current portion of notes payable (note 9) 2,550,939 2,160,347 Total Current Liabilities 4,663,046 4,467,082 Long Term Liabilities Long term portion of notes payable (note 9) 1,995,632 2,034,493 Operating Lease 1,060,015 1,060,015 Total Liabilities 7,718,693 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) ( 2,894,036 ) ( 1,653,470 ) Total Stockholders' Equity ( 2,734,190 ) ( 1,493,624 ) Total Liabilities and Stockholders' Equity $ 4,984,503 $ 6,067,966 See accompanying notes to financial statements 1 AmeriGuard Security Services, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS For the Six Months Ending June 30, June 30, 2024 2023 Revenue Services $ 12,252,971 $ 13,319,932 Discounts and allowances ( 11,649 ) ( 65,120 ) Other o

Financial Statements

Financial Statements NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS AmeriGuard Security Services, Inc. ("AGS"), was incorporated on November 14, 2002, with an S-Corp tax election. The corporation was incorporated with the issuance of 1,000 shares of no-par value stock held by Lawrence Garcia, President and CEO with 550 shares, and Lillian Flores, VP of Operations with 450 shares. AGS provides armed guard services as a federal contractor with licenses in five states and provides commercial guard services in California. On July 7, 2021, AGS, entered into an agreement to gain 100% control of Health Revenue Assurance Holdings, Inc ("HRAA") a public corporation, incorporated in Nevada, by the purchase of 10,000,000 shares of Preferred A-1 Stock from the seller, Custodian Ventures LLC. The purchase of HRAA allowed the Company to begin plans to consummate a reverse merger with HRAA, becoming a wholly owned subsidiary of a public company. In March of 2022, a Certificate of Amendment was filed with the Nevada Secretary of State, changing the name of HRAA to Ameriguard Security Services, Inc. ("AGSS"). Shortly thereafter, a stock name and ticker change report was filed with the SEC, and the stock ticker of HRAA was changed to AGSS. On December 9, 2022, AGS executed the reverse merger agreement and became the subsidiary of AGSS (the "Company"). From that point forward, the financial statement filings will be the consolidation of Ameriguard Security Services, Inc, a Nevada company, with Ameriguard Security Services, Inc., a California company. On October 20, 2023, the Company executed a share purchase agreement to acquire TransportUS Inc. TransportUS, Inc. was incorporated on October 24, 2018, with an S-Corp tax election. The corporation was incorporated with the issuance of 1,000 shares with no-par par value stock held by Lawrence Garcia, President and CEO. TransportUS Inc. provides human transportation services as a federal contractor, currently providing services i

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