As of September 30, 2024, AmeriGuard Security Services, Inc. reported total assets of $5.4 million, a decrease from $6.1 million at the end of 2023. Current assets fell to $3.1 million from $4.1 million, while non-current assets increased to $2.3 million from $1.9 million. Total liabilities rose to $8.7 million, up from $7.6 million, with long-term notes payable significantly increasing to $3.0 million from $2.0 million. Stockholders' equity declined to $(3.3 million) from $(1.5 million), and retained earnings showed a deficit of $(3.4 million), worsening from $(1.7 million) at the end of 2023.

For the nine months ending September 30, 2024, total revenue increased by 2.1% to $19.3 million, compared to $18.9 million in the same period of 2023. Revenue from services rose to $19.2 million from $18.9 million. The total cost of services decreased to $16.7 million from $17.2 million, resulting in a gross margin improvement to $2.6 million from $1.6 million. However, total operating expenses increased to $4.4 million from $3.4 million, primarily due to a $549,000 rise in loan interest expenses and increases in professional fees, advertising, and depreciation. Consequently, the net loss for the period was $(1.8 million), a decline from a net income of $816,000 in 2023, with net income per share dropping to $(0.0188) from $0.0086.

In the third quarter of 2024, revenue reached $7.0 million, up from $5.6 million in the same quarter of 2023. However, the net loss for this quarter was $(493,000), compared to a loss of $(209,000) in the prior year. The company reported a net cash decrease of approximately $1.3 million for the nine months ending September 30, 2024, with cash on hand at $896,616, down from $2.0 million a year earlier.

Strategically, AmeriGuard executed a share purchase agreement to acquire TransportUS Inc. on October 20, 2023, enhancing its service offerings in human transportation. The company is actively pursuing additional federal contracts, with proposals submitted that could yield $5 million to $15 million in revenue. Management anticipates a reduction in quarterly losses and aims for profitable operations within the next twelve months, driven by growth in the security and transportation sectors.

The company faces challenges, including dependence on federal contracts and rising operational costs. Additionally, as of September 30, 2024, AmeriGuard's internal controls were deemed ineffective, attributed to insufficient resources and the absence of an audit committee. Management plans to address these weaknesses by hiring additional staff and establishing an audit committee as resources allow.